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Jet Airways: NCLT Mumbai has approved the resolution plan submitted by the consortium comprising of Murari Lal Jalan and Kalrock Capital. The plan has been approved with the caveat that determination of landing slots will be done by the appropriate authority. Historic rights over landing slots won’t be available to Jet
Airways but a request is being made to the government to see that the plan doesn’t get frustrated because of its obduration, the tribunal said.
HDFC Bank: To hire 500 people over two years in two entities the lender is setting up to strengthen its technology infrastructure. The “Digital Factory” arm will build new businesses based on upcoming tech stacks or applications, while the “Enterprise Factory” will upgrade legacy infrastructure. The bank will also develop IP
technologies and move to a native cloud architecture in collaboration with technology companies, fintech and large IT firms.
Hero MotoCorp: To increase prices of its scooters and motorcycles by up to Rs 3,000 from July 1 to offset the impact of increased commodity costs. This is the third such price hike by Hero MotoCorp this year.
Vedanta: Has been awarded the Kuraloi (A) North coal block in Odisha with a geological reserve of 1,680 million tons. The mine, with an estimated annual capacity of 8 million tons, will ensure fuel security, improve power availability and further strengthen the company’s aluminium smelter operations in Jharsuguda, the company said.
The Phoenix Mills: CPP Investment has completed Rs 180 crore investment in Mindstone Mall, a wholly-owned subsidiary company, by subscribing to 11,682 equity shares and 17.65 crore Compulsorily Convertible Debentures.
Minda Industries: To acquire 51% stake in UZ Chasys LLC in Uzbekistan for a purchase consideration of 83.1 Bn Sams equivalent to Rs 58 crore.
Century Plyboards (India): The company’s wholly-owned subsidiary, Century Panels, has considered a proposal for setting up a new unit in Andhra Pradesh for manufacturing of Medium Density Fiber boards. The new MDF unit will cost company approximately Rs 500 crore.
Earnings: Allcargo Logistics, Apollo Hospitals Enterprise, Andrew Yule & Company, Hindustan Construction Co, Schneider Electric Infrastructure, Precision Wires India, Sharda Motor Industries.
By: via @AlliesFin Serve Stock Market
