JSW Energy: JSW Energy arm to set up 960 MW capacity hydro pumped storage project (PSP) in Maharashtra. JSW Neo Energy has entered into a memorandum of understanding with the government of Maharashtra for setting up a 960 MW capacity hydro PSP. With this MoU, the company has secured resources for 6 GW hydro PSPs from various state governments.
Atul Auto: Atul Auto to consider fundraising on October 8. The company said the board of directors will meet on October 8 to consider a proposal for raising funds via a rights or preferential issue.
Sterlite Technologies: Sterlite Technologies completes divestment of stake in UK-based Impact Data Solutions. The company has completed its divestment of stake in IDS UK. In September 2022, it had entered into definitive documents to sell its stake (through its wholly-owned subsidiary) in IDS UK to Hexatronic Group AB.
Tata Steel: Tata Steel arm completes sale of 19% stake in AI Rimal to Tanmia. The company through subsidiary T S Global Holdings Pte Ltd has completed the divestment of its 19% equity stake in AI Rimal to Tanmia. With this, its shareholding in Al Rimal has reduced from 70% to 51%.
Godrej Consumer Products: Godrej Consumer Products expects higher than mid single-digit sales growth, mid-teen decline in EBITDA in second quarter. The FMCG company, at a consolidated level, expects to deliver higher than mid single-digit sales growth. It expects close to double-digit sales growth ex-Indonesia’s Hygiene comparator. On the profitability front, it expects a mid-teen decline in EBITDA due to high cost materials, significant upfront marketing investments to drive category development, and a weak performance in Indonesia. However, with significant correction in commodities like palm oil derivatives and crude oil, we expect recovery in consumption, gross margin expansion and upfront marketing investments in upcoming quarters.
Jubilant FoodWorks: Jubilant FoodWorks arm acquires additional stake in Netherlands-based DP Eurasia NV. Subsidiary Jubilant FoodWorks Netherlands BV acquired additional stake in Netherlands-based DP Eurasia NV. As on October 3, the subsidiary held 49.04% stake in DP Eurasia NV, the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan and Georgia.
NPR Finance: NPR Finance sells wind turbine generator plant in Maharashtra. The company has sold a wind turbine generator plant in Dhule, Maharashtra. Further, the agreement for sale of the other remaining wind turbine at Sangli, Maharashtra will be entered into in due course of time.
Trimurthi: Trimurthi completes transfer of 100% stake in subsidiary Trimurthi Pharmaceuticals. The company has completed transfer of 100% stake in subsidiary Trimurthi Pharmaceuticals. With this, Trimurthi Pharmaceuticals has ceased to be a subsidiary.
