1 / 11Vedanta | The board of Anil Agarwal-owned mining conglomerate has approved its fourth interim dividend of ₹8.5 per share. The announcement was made after market closing on Monday, December 16. The company had made the announcement with regards to the board meeting in an exchange filing on December 12. Promoters of Vedanta currently own a 56.38% stake in the company, based on which, they will receive a total payout of ₹1,874 crore.
2 / 11Mindspace REIT | Abu Dhabi Investment Authority (ADIA), the world’s second-largest sovereign wealth fund, is likely to divest a 9.2% stake in Mindspace Business Parks REIT through a block deal valued at ₹1,903 crore, sources privy to the developments told CNBC-TV18. The floor price for the transaction is fixed at ₹350 per unit, indicating a clean-out trade, sources in the know told CNBC-TV18.
3 / 11Gravita India | Recycling player has launched a Qualified Institutional Placement (QIP) to raise ₹750 crore, with an option to upsize the issue, confirming the CNBC-TV18 news break. The company has received shareholder approval to raise up to ₹1,000 crore through the offering. The indicative issue price for the QIP is ₹2,096.2 per share, representing a 6.1% discount to the closing price and a 5% discount to SEBI’s floor price, sources in the know told CNBC-TV18. The offering will result in an equity dilution of 5.2%.
4 / 11HDFC Bank | Private sector lender HDFC Bank said it has received an administrative warning letter from the Securities and Exchange Board of India (SEBI) for alleged non-compliance with disclosure norms under the SEBI Listing Regulations. The warning pertains to the bank’s handling of disclosures regarding the resignation of senior management employee Arvind Kapil.
5 / 11Wipro | IT services company announced the acquisition of 100% shareholding in Applied Value Technologies, Inc, and its affiliates Applied Value Technologies Pte Ltd and Applied Value Technologies BV. The acquisition, valued at up to $40 million, is expected to bolster Wipro’s existing application services capabilities and create new growth opportunities. The deal involves a cash purchase consideration, with a deferred earnout contingent on the achievement of certain performance metrics.
6 / 11Religare Enterprises | Diversified financial services group said its material subsidiary, Care Health Insurance Ltd (CHIL), has received a letter of advice and a show-cause notice from the Insurance Regulatory and Development Authority of India (IRDAI). This follows an inspection by IRDAI from August 30, 2021, to September 9, 2021, and CHIL’s submissions in relation to the inspection. The notice details non-compliance with several provisions of IRDAI’s regulatory framework, including multiple clauses from the master circulars on operations, corporate governance, and protection of policyholders’ interests.
7 / 11HPCL | The company said its board of directors has approved a modernisation project at its Mumbai refinery. The lube modernisation and bottoms upgradation project will increase the production capacity and quality of the refinery’s output at a total investment of ₹4,679 crore. The project aims to increase the production of lube oil base stocks (LOBS) from the current 475 kilotonnes per annum (KTPA) to 764 KTPA. The upgraded facility will produce superior-grade Group II+ and Group III LOBS, HPCL said.
8 / 11India Pesticides | The company disclosed that the Income Tax Department is conducting searches at its registered office and other company premises. The company confirmed its full cooperation with the authorities, stating that its employees are providing all necessary information and support during the process. “The company and its employees are fully cooperating with the authorities and providing them with all necessary information and support,” it said.
9 / 11Nitco | Tile maker said it has secured a ₹105.40 crore order from Prestige Estates Projects Ltd for the supply of tiles, marble, and mosaic. The order is set to be executed within six months. Additionally, based on the current ongoing projects, the company anticipates receiving orders worth ₹104 crore in the near future from Prestige Estates Projects Ltd. “The company further anticipates additional purchase orders worth ₹104 crore from Prestige Estates by March 2025, based on ongoing projects,” it said.
10 / 11Godavari Biorefineries | Ethanol and bio-based chemicals maker announced plans to invest ₹130 crore in a new 200 KLPD (kilo litres per day) corn/grain-based ethanol distillery. This initiative aims to enhance the company’s ethanol production capabilities and operational flexibility with a dual-feedstock system. The investment will be financed through a combination of internal accruals and debt, with the distillery expected to be commissioned by Q4 FY2026.
11 / 11Mawana Sugars | The company disclosed that its Nanglamal Sugar Complex and Mawana Sugar Works units, located in Meerut, Uttar Pradesh, have received notices from the Anti-Corruption Branch of the government of the National Capital Territory of Delhi. The notices, dated December 15, 2024, seek information about transactions involving an agent of the company in sugar purchases. The agent’s name surfaced during an investigation into accounts linked to gross GST refunds claimed by bogus firms allegedly in collusion with GST officials.
