One97 Communications ( Paytm) will remain in focus as Paytm Payments Bank Limited (PPBL) has appointed veteran banker Surinder Chawla as its new MD and CEO. The appointment has been approved by the Reserve Bank of India for a period of three years. Chawla brings with him an illustrious career in Retail Banking spanning over 28 years across marquee institutions, such as HDFC Bank, RBL Bank, ABN Amro Bank, and Standard Chartered Bank.
Hi-Tech Pipes Limited has signed a Memorandum of Understanding with the Uttar Pradesh Government for setting up a mega manufacturing facility of steel tubes and pipes and flat steel processing. The MoU is signed under the Invest U.P. Programme of the UP Government.
R&B Denims, one of the most influential textile houses with the largest vertically integrated textile manufacturing facilities of over 30 million meters capacity of denim, has done major expansion with new Air jet Looms – Dobby Machines. It has started to manufacture the prominent luxury level of denim fabric with a width of 85 inches. The company is expeced to generate very good margins from the current operating margins with this technology. At present, the company’s clients include major brands, such as Arvind, Killer, Lifestyle, Reliance Retail, etc.
Girnar Spintex Industries Ltd has informed the exchanges that its manufacturing plant is running at full capacity as the cotton prices have eased.
NR Agarwal Industries Ltd’s Unit III (Duplex Board) situated at Plot No. 901, Phase III, GIDC, Vapi – 396 195, Dist. Valsad, Gujarat, has been permanently shut down from January 6.
Bharat Wire Ropes Ltd entered into Share Purchase Agreement and Shareholders’ Agreement on January 6 and invested a total amount of ₹2.41 crore constituting 26.72 per cent in the paid-up share capital of MITCON Solar Alliance Limited. Further, pursuant to the above acquisition of shares, MSAL will become an Associate of the Company.
Ashoka Buildcon has received the aggregate accepted Bid Project Value for the Projects at ₹807.64 crore. The company had submitted its bids to the Dakshinanchal Vidyut Vitran Nigam Ltd for the development of distribution infrastructure at Aligarh-2 Zone and development of distribution infrastructure at Agra-1 Zone District Agra, Mainpuri & Firozabad of Uttar Pradesh State Under Revamped Reforms-Based And Results-Linked, Distribution Sector Scheme. The company emerged as the lowest bidder (L-1) for the Project for Danapur – Bihta Section (Bihar) for ₹2,161.00 crore.
Markets likely to open higher on strong global cues
SGX Nifty at 18,088 signals that Nifty may once again regain the crucial 18,000-mark
Keystone Realtors Ltd (Rustomjee Group), one of the leading real estate companies of Mumbai, has been selected as the Developer of choice to redevelop the plot and premises of Basant Park Co-operative Housing Society Ltd on a land admeasuring approximately 16,896.40 square meters in Chembur, Mumbai, Maharashtra.
The board of Asian Paints has accorded their approval for setting up a new water-based paint manufacturing facility with a capacity of 4 lakh kilolitres per annum at an approximate investment of ₹2,000 crore. The manufacturing at the facility is expected to be commissioned in 3 years, after acquisition of land.
The US FDA issued a Complete Response Letter (CRL) for the Biologics License Application (BLA) for the Insulin-R product filed by Biocon Biologics. The CRL cites additional data required in the BLA submission and an expectation of satisfactory implementation of a CAPA plan pertaining to the Pre-Approval Inspection of its Bangalore facilities in Aug’22. The company is in the process of comprehensively addressing the CRL.
Gensol Engineering has subscribed 1,37,935 shares, which is 58.08 per cent of the total share capital of the company, by investing ₹3,50,35,490 in Gensol Electric Vehicles Private Limited, by virtue of this transaction, the target Company will become the subsidiary company of the Gensol Engineering Ltd.
Aditya Birla Fashion & Retail proposes to raise funds by issuing 5,000 listed, unsecured, rated, redeemable non-convertible debentures of the face value of ₹10,00,000 each issued at par aggregating to ₹500 crore on private placement basis, on or after January 13.
ODP Corporation has selected HCL Technologies as its primary IT partner for end-to-end IT operations and enterprise-wide digital transformation to support ODP’s business strategy in its Office Depot, ODP Business Solutions, and Veyer business units.
Gland Pharma International PTE, a Singapore subsidiary of Gland Pharma, has entered into a share purchase agreement with FPCI Sino French Midcap Fund and others to acquire 100% stake in Cenexi and the Cenexi Holding Entities.
Results Calendar: Emerald, Gyscoal Alloys, Gautam Gems, JBF Industries, TCS, Tijaria Poly