Daily Stock Market News: India’s Share Market Today: 30 November 2023

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Tata Coffee Initiates Expansion with New Freeze-Dried Coffee Facility in Vietnam

The board of Tata Coffee has given the green light for the establishment of an additional 5,500 metric ton freeze-dried coffee facility in Vietnam. This strategic move reflects Tata Coffee’s commitment to expanding its production capabilities and meeting growing market demands.

L&T Technology Services Receives NCLT Approval for Amalgamation

L&T Technology Services has secured approval from the National Company Law Tribunal (NCLT) for the amalgamation of Esencia Tech, Graphene Semicon, and Seastar with the company. This regulatory nod marks a significant milestone in L&T Technology Services’ corporate restructuring efforts.

SJVN Achieves Milestone with Synchronization of Naitwar Mori Hydro Electric Project

SJVN has achieved a noteworthy milestone by successfully synchronizing the Second Unit of the 60 MW Naitwar Mori Hydro Electric Project with the National Grid. This accomplishment underscores SJVN’s commitment to advancing sustainable energy solutions.

Aurobindo Pharma Subsidiary Granted US FDA Approval for Budesonide Inhalation Suspension

Eugia Pharma Specialties Ltd, a subsidiary of Aurobindo Pharma, has received FDA approval to produce and market Budesonide Inhalation Suspension, expanding Aurobindo Pharma’s respiratory product line.

Tata Tele Business Services Partners with Truecaller for ‘Verified Business Caller ID Solution

Tata Tele Business Services has entered into a collaboration with Truecaller to offer a ‘Verified Business Caller ID Solution.’ This partnership aims to enhance caller identification accuracy for business calls, providing a reliable communication solution.

Joint Venture Agreement Signed by Ganesh Benzoplast Ltd and Subsidiary

Ganesh Benzoplast Ltd and its wholly-owned subsidiary, GBL LPG Pvt Ltd, have entered into a Joint Venture Agreement with BW Confidence Enterprise Pvt Ltd, BW LPG Holding Pte. Ltd., Confidence Petroleum India Ltd, and GBC LPG Pvt Ltd. This joint venture signifies strategic collaboration in the petroleum sector.

HCL Technologies Explores Outsourced Semiconductor Facility in Karnataka

HCL Technologies is reportedly considering the establishment of an outsourced semiconductor assembly and test facility in Karnataka. This potential move aligns with HCL Technologies’ expansion strategy in the semiconductor industry (India Daily Stock Market News).

Mahanagar Gas Plans Expansion with 6 New LNG Outlets

Mahanagar Gas is gearing up for expansion with plans to build six new liquefied natural gas (LNG) outlets by the next year. This strategic initiative aims to cater to the growing demand for clean energy solutions.

Siemens Granted Approval for Automatic Train Collision Avoidance System on Indian Railway

Siemens, along with Kyosan Electric Manufacturing Co, has received government approval to deploy the automatic train collision avoidance system, Kavach, on Indian Railways. This technology aims to enhance safety measures and improve railway operations.

Ramco Cements Establishes Wholly-Owned Subsidiary in Korea

Ramco Cements has ventured into Korea with the incorporation of its wholly-owned subsidiary, Ramco Systems Korea Co, investing ₹200 million. This strategic move positions Ramco Cements to conduct business operations in the Korean market.

Competition Commission Clears Proposal for Vodafone Idea Stake Increase

The Competition Commission of India has approved Atlas 2022 Holdings’ proposal to increase its stake in Vodafone Group to below 25% from 14.6%, indicating investment plans in the telecom sector.

ICICI Bank Receives Nod for Delisting ICICI Securities Shares

ICICI Bank has received no-objection letters from the BSE and the National Stock Exchange for the delisting of shares of ICICI Securities. This regulatory clearance marks a crucial step in ICICI Bank’s corporate restructuring efforts.

Thomas Cook (India) Announces Stake Sale through Offer-For-Sale

Fairbridge Capital (Mauritius), which holds a stake in Thomas Cook (India), is planning to sell up to 8.5% of its holding in the company through an Offer-For-Sale on November 30 and December 1. The minimum price for the offer is set at Rs. 125 per share (India Daily Stock Market News).

Shareholders Approved Appointment of Amit Jhingran as MD & CEO of SBI Life Insurance

Shareholders of SBI Life Insurance have approved the appointment of Mr. Amit Jhingran as the Managing Director and chief Executive Officer of the company. This decision reflects the confidence of shareholders in the leadership of Mr. Jhingran.

Welspun Specialty Solutions Secures Orders Worth Rs 15.87 Crore for Duplex Grade Seamless Tubes

Welspun Specialty Solutions has received orders totaling Rs 15.87 crore for the supply of Duplex Grade Seamless Tubes. The company is expected to execute these orders by March 2024, contributing to its business growth.

UltraTech Cement Acquires Cement Grinding Assets of Burnpur Cement Ltd

UltraTech Cement has successfully acquired the 0.54 million ton per annum cement grinding assets of Burnpur Cement Ltd in Patratu, Jharkhand, at a consideration of Rs. 169.79 crores. This strategic acquisition strengthens UltraTech Cement’s position in the cement industry.

JSW Infrastructure Issues Corporate Guarantee for Term Facility

JSW Infrastructure has issued a corporate guarantee of USD 126 million in favor of Axis Trustee Services Ltd (GIFT city branch) for a term facility to be availed by its wholly-owned subsidiary, JSW Terminal (Middle East) FZE, from Axis Bank Ltd. This guarantee supports the subsidiary’s financing requirements for infrastructure development.

Brigade Enterprises Increases Stake in BCV Developers Pvt Ltd

Brigade Enterprises has acquired an additional 12.50% stake in the equity shares of BCV Developers Pvt Ltd, a subsidiary of the company, from existing shareholders who are joint venture partners. This move increases Brigade Enterprises’ shareholding in BCV Developers Pvt Ltd from 50.01% to 62.51%.

Max Estates Plans Group Housing Project in Harsaru, Gurugram

Max Estates has proposed the development of a Group Housing Project on a land parcel measuring 11.80 acres in Harsaru, Gurugram, Haryana. This project aligns with Max Estates’ vision for real estate development in the region.

JSW Infrastructure Enters Concession Agreement for Development of Port in Karnataka

Masad Infra Services Pvt Ltd, a subsidiary of JSW Infrastructure, has entered into a concession agreement with Karnataka Maritime Board, Government of Karnataka, for the development of an all-weather, deep-water, greenfield port at Keni in Karnataka. This project follows the Public Private Partnership (DBFOT) model and signifies JSW Infrastructure’s commitment to port development.

Modi Naturals Receives Order Worth Rs 230 Crores for Ethanol Division

Modi Naturals has received an order worth Rs 230 crores from various Oil Marketing Companies (OMCs) for its ethanol division. This order reflects the demand for ethanol products in the market and contributes to Modi Naturals’ business growth.

Castrol India Appoints Anoop Jindal as Vice-President and Head of Customer Excellence and Operations

Castrol India has appointed Mr. Anoop Jindal as Vice-President and Head of Customer Excellence and Operations, effective from January 1, 2024. This leadership appointment is part of Castrol India’s strategic initiatives for operational excellence (India Daily Stock Market News).

Mahindra Logistics to Acquire 60% Stake in ZipZap Logistics for Rs 72 Crore

Mahindra Logistics has announced plans to acquire a 60% stake in ZipZap Logistics Pvt Ltd for Rs 72 crore. This acquisition aligns with Mahindra Logistics’ growth strategy in the logistics and supply chain sector.

Muthoot Capital Services Raises Rs 31 Crore through Commercial Papers

Muthoot Capital Services has successfully raised Rs 31 crore through Commercial Papers. This financial move supports the company’s capital requirements and reflects investor confidence in Muthoot Capital Services.

Elgi Equipments: CRISIL Reaffirms Rating for Long-Term and Short-Term Bank Loan Facilities

CRISIL has reaffirmed the rating for the long-term and short-term bank loan facilities of Elgi Equipments at CRISIL AA/Stable and CRISIL A1+, respectively. This rating reflects the creditworthiness and stability of Elgi Equipments in the financial market.

PCBL Board In-Principle Approval for Joint Venture with Kinaltek Pty Limitedlgi Equipments

The board of PCBL has given in-principle approval for the term sheet to enter into a joint venture (51:49) with Kinaltek Pty Limited. This strategic joint venture aligns with PCBL’s growth objectives and expansion plans.

Ind-Swift Laboratories Collaborates with CSIR-IMTECH for Biotransformation Process Development

Ind-Swift Laboratories has entered into a collaboration with CSIR-IMTECH for the development of a biotransformation process (enzymatic process). This collaborative effort aims to enhance the biotechnological capabilities of the company (India Daily Stock Market News).

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