Shares pf United Spirits may come under pressure, as Pernod Ricard has become the largest Indian spirit maker in India in terms of revenue, with a consolidated sales revenue of Rs 26,773.22 crore in FY24, pushing its rival Diageo-owned United Spirits to the second spot. , according to a regulatory filing. United Spirits Ltd (USL) reported Rs 26,018 crore in revenue from operations for the fiscal ended on March 31, 2024, as per the regulatory filings on stock exchanges. Pernod Ricard India Pvt Ltd (PRI) has reported an overall 6.9 per cent increase in its revenue from operations for FY24, and its profit rose 20.9 per cent to Rs 1,620.58 crore, a PTI report quoting business intelligence platform Tofler said.
Tata Chemicals Europe (TCEL), wholly-owned subsidiary of Tata Chemicals is planning an investment of 60 million Euro (Rs 655 crore) to build a 1,80,000 tonnes per annum pharmaceutical grade sodium bicarbonate plant in Northwich in the UK. This new plant will triple TCEL’s production capacity of pharmaceutical grade sodium bicarbonate in the UK, Tata Chemicals aid in a regulatory filing.
Loss-making state-owned telecom firm MTNL has defaulted on a total payment of Rs 5,726.29 crore, comprising a principal amount of Rs 5,492 crore raised from various banks and an interest of Rs 234.28 crore, the company said in a regulatory filing. The company shared that its total financial debt now stands at Rs 32,097.28 crore — 40 times more than its consolidated annual income of Rs 798 crore. Union Bank of India has the biggest exposure to MTNL.
Aurobindo Pharma has received GMP certificate of compliance for its Hyderabad-based biosimilars manufacturing facility from the European Medicines Agency. CuraTeQ Biologics, a wholly-owned subsidiary of Aurobindo Pharma, has received the certification.
SEBI. on Tuesday slapped fines totaling Rs 12 lakh on seven entities, including LCC Infotech and its promoters — Kirti Lakhotia, Sidharth and Pratik Lakhotia — for misrepresenting the financial statements of the company. The regulator levied a penalty of Rs 6 lakh on LCC Infotech and a Rs 1 lakh fine each on Kirti Lakhotia (Chairperson and MD), Sidharth Lakhotia (CEO), Pratik Lakhotia, Kamaljit Singh, Rajat Sharma and Mayur P Shah.
Life Insurance Corporation (LIC) on Tuesday said it has sold more than 2.02 per cent stake in Tata Power Company for about Rs 2,888 crore and reduced its holding in the company to 3.88 per cent. In a regulatory filing, LIC said the insurance behemoth has decreased its shareholding in Tata Power Company Ltd from 18,87,06,367 to 12,39,91,097, that is, 5.906 per cent to 3.881 per cent of the paid-up capital of the company. The shares were sold between June 20, 2024, and November 11, 2024, at an average price of Rs 446.402 apiece through an open market sale.
Federal Bank has raised Rs 1,500 crore via its maiden issue of 10-year infrastructure bonds on a private placement basis at a coupon rate of 7.76 per cent. The bond issuance comprised a base issue of Rs 750 crore and a greenshoe option of similar amount.
EMS has received LoA in joint venture for the work valuing ₹681.5 crore (74% Share) from Kolkata Municipal Corporation.
Results Calendar: Eicher Motors, Aanchal Ispat, Apollo Tyres, Accel, Acrow Industries, Alkem Laboratories, Allcargo Terminals, Vodafone Idea, Happiest Minds, Brigade Enterprises, ESAF Small Finance Bank, NBCC, Deepak Nitrite, Century Plyboard, ISGEC Heavy Engineering, Kalyan Jewellers, Kaveri Seed, Torrent Power, Garden Reach, Unichem Laboratories Ltd., Dredging Corp., Ashiana Housing, AstraZeneca Pharma India Ltd. Prism Johnson, PI Industries, Shilpa Medicare, Thermax and Thomas Cook