Actions to follow for October 13, 2021: Tata Motors, RIL, Centrum Capital, IndusInd Bank, Kotak Mahindra Bank, GR Infraproject, Power Grid

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Actions to follow for October 13, 2021: Tata Motors, RIL, Centrum Capital, IndusInd Bank, Kotak Mahindra Bank, GR Infraproject, Power Grid

Highlights

  • Happiest Minds: enters into a partnership with Tech4TH Solutions, a company incorporated in the United States
  • Zen Technologies: to consider a fundraising plan on October 17, 2021
  • Zee Ent: Invesco wanted ZEE to merge with “large Indian group”, calls EGM in retaliation, says Punit Goenka

Tata Engines

The company will raise up to $ 1 billion for a new subsidiary of electric passenger vehicles (TML EV Co.) from TPG Rise Climate and its co-investor ADQ. Investors will inject funds through mandatory convertible instruments for an 11-15% stake in TML EV Co.

Trusted industries

Reliance New Energy Solar is leading Series C fundraiser from German solar component manufacturer NexWafe. RIL’s subsidiary will inject $ 29 million to accelerate product and technology development.

Central capital

RBI grants a small corporate banking license to the consortium of Centrum Group and Resilient Innovations. The new SFB, Unity Small Finance Bank, to take over the assets and liabilities of the Punjab & Maharashtra Cooperative Bank.

IndusInd Bank, Kotak Mahindra Bank

Both banks have received government approval to collect direct and indirect taxes. Customers of both banks will be able to use net banking and mobile applications to pay their taxes.

GR infraproject

The company incorporated a wholly owned subsidiary “GR Ludhiana Rupnagar Highway Private Limited” on October 12, 2021 under the name SPV.

Electrical network

The company has received investment approval for the establishment of an electric vehicle charging station at Navi Mumbai at an estimated cost of Rs 14.2 crore. It has formed a wholly owned subsidiary to undertake telecommunications and digital technology activities.

Bhansali engineering polymers

The company has seen its profits increase 3.5 times year over year. Profits stood at 124 crore against Rs 35.5 crore in the same period last year. The income grew by 21.7% and amounted to Rs375 crore. Besides the profits, the board of directors approved the expansion project of Brown Field ABS in the existing factories, namely Abu Road (Rajasthan) and Satnoor (MP) to increase the production capacity to 200,000 TPA with approx. Capex of Rs 500 Crore.


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