Bharti Airtel: Announced a collaboration with Intel for 5G network development by leveraging virtualised radio access network and open radio access network technologies. The collaboration is part of Airtel’s 5G roadmap for India. Airtel said it will deploy Intel’s latest 3rd gen “Xeon Scalable processors, FPGAs and eASICs, and Ethernet 800 series to build a solid foundation for rolling out wide-scale 5G, mobile edge computing and network slicing”.
Adani Ports and SEZ: To issue benchmark-sized USD-denominated senior notes with long 10-year and/or 20-year tenors. Note issue to repay existing indebtedness, for capital expenditures and for general corporate purposes in India and Sri Lanka. Further, Adani Ports whose renewable energy installation has been 20 MW as of FY21, aims to be carbon neutral by 2025. It also aims to ensure high growth and Ebitda margin, while maintaining investment grade ratings. The company reduced capex plans of FY21 to focus on maintaining adequate liquidity and conserving cash.
Bajaj Finserv: Bajaj Finance to buy 19.9% stake in Bajaj Finserv Direct Ltd. BFSD is a wholly-owned subsidiary of Bajaj Finserv. Bajaj Finance will invest Rs 284 crore and Bajaj Finserv will invest Rs 342 crore in BFSD during the transaction. BFSD is in the business of distribution of insurance products through digital marketplace. The investments would be in the form equity shares and/or convertible loan or security into equity shares.
IDFC: Reserve Bank of India has, vide its letter dated July 20, 2021, clarified that after the expiry of lock‐in period of 5 years, IDFC Limited can exit as the promoter of IDFC FIRST Bank Limited.
Wipro: To invest $1 billion in cloud technologies, capabilities, acquisitions and partnerships over the next three years. The IT company also launched Wipro FullStride Cloud Services, which will work with clients to better align business and IT with the cloud imperative. Wipro currently employs more than 79,000 cloud professionals.
Asian Paints: Demand outlook is positive, especially with the second wave of coronavirus waning, and a good monsoon forecast would further underpin sales from the rural sector, the company said. Diwali festival season is expected to help retail demand from September onward. The company is witnessing early signs of softening in prices of raw material prices, after an increase of 13%-15% in Q1. Further, it has taken another round of price increases effective July 1.
HCL Technologies: Launched HCL SoFy, the Cloud Native solution factory and HCL Now, a Cloud-Native-as-a-service offering. The two new additions will further enhance the company’s cloud offering.
Avenue Supermarts: The recovery in sales trend continues as authorities further ease restrictions in areas where Covid-19 infections have declined, the company said.
Infosys: Infosys Public Services, a U.S.-based subsidiary of the company, has launched blockchain network to modernise public recordkeeping for County of Riverside in California. The pilot blockchain initiative will digitise access and improve the efficiency and security of vital recordkeeping in the County, the company said.
3i Infotech: Elegon Infotech, a wholly-owned subsidiary in Chengdu in China’s Sichuan province has been liquidated voluntarily. The Chinese unit was not a material subsidiary of the company and did not have any business activity.
Bajaj Hindusthan Sugar: Allotted 14.38 crore shares at Rs 13.28 per share on preferential basis aggregating to Rs 190 crore by way of conversion of existing outstanding unsecured loan, extended by the promoters as a part of promoters contribution to the Restructuring Package approved by the Joint Lenders Forum.
Granules India: Granules Pharmaceuticals Inc., a Virginia-based wholly-owned subsidiary of the company has cleared U.S. Food and Drug Administration’s audit. GPI had undergone a pre-approval inspection audit by the FDA from June 21 to June 25.
Cadila Healthcare: Received tentative approval from the U.S. Food and Drug Administration to market Ibrutinib Tablets. Ibrutinib belongs to a class of drugs known as kinase inhibitors and is used to treat certain cancers. The drug will be manufactured at the group’s formulation manufacturing facility at the SEZ, Ahmedabad.
JTL Infra: Board to consider stock split and fund-raising proposals on August 7.
Earnings: Hindustan Unilever, Bajaj Auto, Hindustan Zinc, Ultratech Cement, Biocon, Bajaj Holdings & Investment, ICICI Lombard General Insurance Company, Mphasis, Indian Energy Exchange, Persistent Systems, IndiaMART InterMESH, Sterlite Technologies, Wockhardt, Can Fin Homes, CSB Bank, Heidelbergcement India, Bank of Maharashtra, IIFL Securities, Agro Tech Foods, Chennai Petroleum Corporation, India Pesticides, Oriental Aromatics, Music Broadcast, Saregama India, Sahyadri Industries, Shiva Cement, South Indian Bank, Vimta Labs
