1 / 14Bank of Baroda | State-owned bank said its board of directors has approved the issuance of long-term bonds amounting to up to ₹10,000 crore for financing infrastructure and affordable housing projects. The bonds may be raised in single or multiple tranches during the financial year 2024-25 and beyond, depending on market conditions and feasibility.
2 / 14Asian Paints | The company announced the resignation of two senior management members. Shyam Swamy, Vice President of Home Improvement, Décor, Services & Retailing; and Vishu Goel, Associate Vice President of Retail Sales, Commercial & Marketing, resigned on December 17, 2024. Their resignations were accepted by the company, and they ceased to be employees and senior management members at the close of business on the same day. The company has not provided details on the reasons behind their departure.
3 / 14Lupin | Drug firm announced that it has received approval from the US Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA) for HIV tablets emtricitabine and tenofovir alafenamide tablets, 200 mg/25 mg. The approval allows Lupin to market a generic version of Descovy tablets, a product originally developed by Gilead Sciences Inc. Lupin is one of the first companies to receive approval for this generic formulation, making it eligible for 180 days of shared generic exclusivity in the US market.
4 / 14ITC | The company has boosted its shareholding in EIH and HLV by acquiring additional stakes from its wholly-owned subsidiary, Russell Credit. The company purchased 2.44% of EIH’s share capital, which includes 1,52,32,129 equity shares of ₹2 each, and 0.53% of HLV’s share capital, comprising 34,60,829 equity shares of ₹2 each. Following the acquisition, ITC’s total stake in EIH now stands at 16.13% of its paid-up share capital, while its holding in HLV has increased to 8.11%.
5 / 14DOMS Industries | Italian stationery maker Fabbrica Italiana Lapis ed Affini (FILA) is set to offload up to 4.57% of shares in its Indian unit, according to sources. The deal size is estimated at a base size of 3.05% (₹509.7 crore) with an upsize option of 1.52% (₹254.3 crore), totaling a possible ₹764 crore. The floor price is set at ₹2,755 per share. Fabbrica Italiana Lapis ed Affini held a 30.58% stake in Doms Industries at the end of Q2.
6 / 14IOL Chemicals | The company announced that its Board of Directors will meet on December 27, 2024, to consider the sub-division or split of its existing equity shares. A stock split is generally aimed at making shares more affordable and increasing liquidity in the market.
7 / 14Yasho Industries | Chemical manufacturer announced that its Board of Directors has approved the issuance of up to 657,895 fully paid-up equity shares on a preferential basis, following a meeting held earlier this afternoon. The equity shares will be issued at ₹1,900 per share, including a premium of ₹1,890, totaling ₹125 crore.
8 / 14JSW Infrastructure | JSW Group firm said its wholly-owned subsidiary, JSW Tuticorin Multipurpose Terminal Private Ltd, has secured a ₹500-crore term loan to fund the development and mechanisation of North Cargo Berth-III (NCB-III) at V.O. Chidambaranar Port in Tuticorin. The loan facility, provided equally by ICICI Bank and Canara Bank, will finance the dry bulk cargo terminal, which is being developed on a design, build, finance, operate, and transfer (DBFOT) basis with a capacity of 6.96 million tonnes per annum.
9 / 14Brigade Enterprises | Bengaluru-based real estate developer has unveiled India’s first net-zero residential project, Brigade Citrine, with an estimated Gross Development Value (GDV) of ₹500 crore. The project, located on a 4.3-acre site in Budigere Cross, Whitefield, will feature 420 residential units, including 1, 2, 3, and 4 BHK homes. Brigade Citrine is designed to save around 8,900 tankers of water annually and uses renewable energy for the entire common area lighting.
10 / 14SBI | The bank announced that the Centre has appointed Rama Mohan Rao Amara as its new Managing Director for a three-year term. The decision was made by the Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi. Amara, who was previously serving as the Deputy Managing Director and Chief Risk Officer, was recommended for the role by the Financial Services Institutions Bureau (FSIB) in September this year.
11 / 14Borosil Renewables | Solar glass manufacturer said its board of directors has approved key decisions, including a temporary cooldown of its German subsidiary’s furnace, a production capacity expansion in India, and revised fundraising strategies to support growth amid improving market conditions. Borosil’s step-down subsidiary, GMB Glasmanufaktur Brandenburg GmbH, based in Tschernitz, Germany, will temporarily cool down its 350 tonne per day (TPD) furnace by the end of December 2024.
12 / 14NITCO | Tiles maker said it has secured orders worth ₹105 crore from the real estate firm, Bengaluru-based Prestige Group. NITCO will supply tiles and marble to Prestige Group’s several real estate projects spread across various cities in India. “The promoters of NITCO have a 40-year-old relationship with the Razaak family of the Prestige Group, which exclusively buys its requirements from NITCO,” it said.
13 / 14FDC | The company said it has received final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Cefixime 400 mg Tablets. Cefixime is used to treat bacterial infections in many different parts of the body. It belongs to the class of medicines known as cephalosporin antibiotics. It works by killing bacteria or preventing their growth.
14 / 14Gandhar Oil Refinery | The company said it has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) following an inspection of its manufacturing facility in Taloja. This classification by the USFDA suggests that while the Taloja facility met most of the regulatory standards, the agency found minor issues that may be addressed through voluntary actions by the company.
