Tata Motors has established a wholly-owned subsidiary named “Tata Motors Digital.AI Labs Limited.”
Bajaj Finserv has signed share purchase agreements with Allianz SE to acquire the German insurer’s 26% stake in their joint ventures — Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC) — for a total consideration of Rs 24,180 crore. This marks the end of a partnership that has spanned over two decades between the Bajaj Group and Allianz. Additionally, Bajaj Finserv will acquire the entire equity stake held by Allianz in Bajaj Allianz Financial Distributors Limited (BAFDL), a 50:50 joint venture with the Company, by acquiring 12,00,000 equity shares for a consideration not exceeding INR 12.5 crore from Allianz.
Moody’s has maintained its ‘Ba1’ rating on IndusInd Bank with a stable outlook, citing the bank’s strong capital, core profitability, and stable funding. However, the possibility of an upgrade in ratings in the near term is unlikely due to the review for a downgrade of the BCA.
The board of Indian Renewable Energy Development Authority (IREDA) has approved an increase in its borrowing limit by Rs 5,000 crore to Rs 29,200 crore for FY 2024-25. The funds will be raised through corporate bonds, banks, and international investors.
Triveni Engineering and Industries Ltd reported an explosion at the CO2 plant of its Sabitgarh Sugar Unit in Bulandshahr, Uttar Pradesh.
Morepen Laboratories has launched Empamore, a treatment for Type 2 Diabetes Mellitus (T2DM), Heart Failure with Reduced Ejection Fraction (HFrEF), and Chronic Kidney Disease (CKD) in India. With over 101 million people in India suffering from diabetes, Empamore aims to provide high-quality treatment at an affordable price, empowering millions of Indians to manage their health effectively.
Bank of Maharashtra has received an administrative warning from SEBI for not conducting required NRC meetings in FY 2022-23 and 2023-24. The bank has stated that it will take necessary steps to address the issue.
Zota Health Care Limited has obtained a product license for Azitoz 500 product from the Ministry of Health, Cambodia, with plans to export the product in the near future.
IRCON International announced that its joint venture Badri Rai and Company has secured an EPC contract worth Rs 1,096.17 crore from the Directorate of Urban Affairs, Government of Meghalaya.
JM Financial will transfer its private wealth business to its subsidiary, JM Financial Services Ltd, for Rs 11.08 crore to consolidate its wealth management services.
NBCC India has been awarded a project management consultancy contract worth Rs 44.62 crore for infrastructure development at the Mahatma Gandhi Institute for Rural Industrialisation in Wardha.
The Managing Director and CEO of Suryoday Small Finance Bank, Baskar Babu Ramachandran, has increased his stake in the bank to 5.18% from 5.04% through an open market purchase of 1,50,000 shares. The promoter group’s holding has risen to 22.44%.
