Today, several major companies are making headlines in the business world. Here are some of the key updates:
-
ITC: The company is finalizing the demerger of its hotel business, with January 1, 2025, set as the effective date. Shareholders are closely watching as January 6 is the record date for eligibility. The demerger ratio is 1:10, meaning that for every 10 shares of ITC Ltd, shareholders will receive 1 share of ITC Hotels.
-
Viacom18 Media: The media conglomerate has become a subsidiary of Reliance Industries after the conversion of over 24.61 crore compulsorily convertible preference shares into equity shares.
-
Thomas Cook: The company has disclosed a cyberattack on its IT infrastructure and is working with cybersecurity experts to contain the impact.
-
Easy Trip Planners: Co-founder Nishant Pitti has divested a 1.4% stake in the company for ₹78 crore through an open market transaction.
-
Power Grid Corporation of India: The company has signed a green loan pact with Sumitomo Mitsui Banking Corporation to develop critical infrastructure for renewable energy evacuation.
-
Authum Investment & Infrastructure: The Competition Commission of India has cleared its proposal to acquire Prataap Snacks Ltd.
-
Kirloskar companies: Four Kirloskar companies are preparing to legally challenge SEBI’s request to disclose a family settlement deed signed in 2009.
-
TVS Holdings: The company has sold its stake in TVS Emerald to a promoter group firm for Rs 485.85 crore.
-
ITD Cementation: The company has secured a Rs 1,648 crore marine contract for the Vadhvan Port in Maharashtra.
-
Piramal Enterprises: The company has infused ₹1,000 crore into its subsidiary, Piramal Capital & Housing Finance Ltd, via a rights issue subscription.
- Sun Pharmaceutical Industries: The company has agreed to sell its subsidiary, Sun Pharma Japan Technical Operations, to Japan’s Zaza Industrial Holdings KK for a nominal consideration.
These developments reflect the dynamic nature of the business world and the strategic moves being made by companies to navigate the competitive landscape. Stay tuned for more updates on these and other key developments in the business domain.
