· Ruchi Soya agreed to acquire food retail business of its founder and change its name to Patanjali Foods. Ruchi will acquire Patanjali Ayurved’s food retail business for Rs690cr in a related party transaction. For the year ended March, Patanjali Ayurved’s sales were at Rs10610cr; the acquired food business comprises of 21 products including butter, honey, juices and spices.- Positive
· Tata Consumers in Buyout Talks With as Many as Five Consumer Brands - Tata Consumer Products wants to go on an acquisition spree to bolster its position in the country’s competitive consumer goods sector, and is in discussions to buy up to five brands. A “significant amount” of the Mumbai-based firm’s future growth will come from inorganic expansion, Tata Consumer Products’ Chief Executive Officer Sunil D’Souza said in an interview. – positive
· Kotak Bank - Kotak Mahindra Group ("Kotak Group") has unveiled Kotak Private - a new proposition that offers a comprehensive platform covering the entire gamut of solutions for ultra-high net worth individuals (UHNI) and high net worth (HNI) individuals, comprising entrepreneurs, business families, and professionals. – positive
· JK Tyre has launched 4 new offerings in their Off-the-Road Tyre Segment at South Asia's largest construction equipment event Excon 2021 in Bangalore. – positive
· Hindware Appliances recently launched a range of products under its Air Coolers and Fans category with an aim of expanding the existing product portfolio for air cooling solutions during this summer season. – positive
· Page Industries launched an industry-first sustainability initiative by unveiling its Chemical Management Policy and Restricted Substances List (RSL) for its supply chain. At a curtain raiser event attended by Page's leadership team and 120 vendors from its strategic supply chain, the company unveiled its Chemical Management Policy and laid down the roadmap for the implementation and monitoring process of RSL. – Long term positive
· Aurobindo Pharma says U.S. FDA Concludes Assessment With 'No Remaining Deficiencies' - Aurobindo Pharma has said that the U.S. FDA has concluded its assessment at Unit - 5, one of the company's facilities, with 'no remaining deficiencies'. The U.S. drug regulator conducted its inspection at the plant between Feb. 8 and Feb. 22. The U.S. FDA had issued Form 483 with five observations following the inspection– positive
· Vedanta-Foxconn joint venture has indicated its interest in setting up a semiconductor manufacturing facility in Karnataka, but the talks between its top executives and the state government officials have been stuck over incentives, people in the know told ET. – negative
· Aster DM Healthcare has partnered with Skye Air Mobility to deliver diagnostic samples and medicines using the technology. The project has been taken up on pilot basis for seven days, to carry medicines and lab samples from Aster RV in JP Nagar to Aster clinics located within Bengaluru city.- positive
· Endurance Technologieshas entered into agreements with ION Energy Inc. (ION) for acquisition of 100% stake in Maxwell Energy Services (Maxwell), ION'S advanced electronics subsidiary with significant presence in BMS. This all-cash deal involves initial share subscription and share purchase leading to Endurance holding 51% stake in Maxwell by investing Rs. 1,35cr – positive
· Savita Oil Technologies to consider investment of Rs. 35 crores Tecso Charge Zone, engaged in the business of electric vehicle charging services through fast DC/AC chargers as well as battery swapping stations for electric vehicles amongst related activities. – Positive
· Dividend – Lupin Rs4, NXT Digital Rs5, LIC Housing Rs8.5, JK Lakshmi Cement Rs5, Steel Cast Rs1.80, Route Mobile Rs2, ITC Rs6.25, Sandur Manganese Rs5, Ucal Fuel Rs2 , Shyam Metalik Rs2.70, TN News Print Rs4
By: via @AlliesFin Serve Stock Market
