IT Stocks: Accenture Plc’s revenue rose in the fourth quarter but its FY23 guidance remained below estimates. Accenture expects revenue to rise between 10% to 14% for the first quarter of FY23. And grow 8% to 11% in the fiscal 2023.
Tata Steel: Board approves the merger of Tata Metaliks, Tata Steel Long Products, Tinplate Company of India, TRF, The Indian Steel & Wire Products, Tata Steel Mining and S&T Mining Company with itself.
Mahindra & Mahindra Financial Services: The RBI asks the company to stop outsourcing all recovery and repossession arrangements immediately, till further orders. It may continue taking these actions through its own employees. The action came after a pregnant woman was mowed down by a recovery agent of the company.
Hero MotoCorp: The company has increased ex-showroom prices of its motorcycles and scooters up to Rs 1,000, with effect from Sept. 22, to partially offset the impact of cost inflation.
Aster DM Healthcare: Medcare Hospital, a step-down material subsidiary of the company has acquired 60% stake in Dubai-based Skin III, for 16.65 million dirhams (Rs 36.74 crore). Skin III offers IV drips (vitamin and detox) and other aesthetics procedures.
TVS Motor Company: Sundaram Auto Components, a wholly owned subsidiary of the company, has sold its entire stake of 50.05% in Sundaram Holding USA Inc., a material step-down subsidiary of TVS Motor, to the holding company, Sundaram-Clayton for a consideration of Rs 317.01 crore.
Adani Enterprises: Adani Road Transport, a wholly owned subsidiary of the company, has incorporated two wholly owned subsidiaries—Adani Road STPL and Adani Road GRICL—for promotion and development of road and other infrastructure projects.
Zydus Lifesciences: The company will subscribe to additional equity shares and compulsorily convertible debentures of AMP Energy Green Nine, as per the agreement entered on March 16, 2022.
Somany Ceramics: The company has decided to sell its entire stake of 51% in subsidiary Amora Ceramics for a consideration of Rs 3.62 crore. The sale is expected to be completed within the next 30 days.
Trident Group: The company has completed a solar power project of 8.87 MWp at Budhni, Madhya Pradesh, of which 5.48 MWp capacity has been commissioned in the first phase for captive use. The remaining capacity of the solar power plant is expected to be commissioned in the next 15 days. The power from this solar power project will be consumed captively in the local manufacturing facilities of the company.
Cipla: The company has received the establishment inspection report from USFDA for product specific pre-approval inspection at its Indore plant, indicating closure of the inspection.
Udaipur Cement Works: The company will raise Rs 350 crore via NCDs on a private placement basis at a coupon of 7.45%.
Century Textiles & Industries: Birla Estates, a wholly owned subsidiary, and the real estate arm of the company, has acquired a 10-acre land parcel at Raja Rajeshwari Nagar, South Bengaluru. The project has a development potential of 10 lakh square feet with a revenue potential of Rs 900 crore.
Heranba Industries: Promoter Raghuram K. Shetty has acquired 1,500 shares of the company from open market.
Shilpa Medicare: The company’s analytical services division at Nacharam, Hyderabad has received USFDA clearance for the inspection performed between April 26, 2022, and April 29, 2022. The facility is a testing laboratory for numerous ANDAs filed by Shilpa Medicare and its agreed parties. The clearance will allow the company to test and release batches into the U.S. from this facility, and to Europe and rest of the world after appropriate submissions.
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