South Indian Bank has appointed Dolphy Jose as Whole-time Director (Executive Director) effective from July 15. Dolphy Jose has over 25 years of experience in the financial sector. His expertise encompasses Retail and Commercial Banking, including Retail assets and liabilities, Branch Banking, P&L Management, and Institutional & Government Business. Jose has a proven track record in building robust distribution channels, establishing strategic partnerships, and leveraging digital capabilities to drive business growth. Jose has held significant roles, most notably his nearly two-decade-long association with Kotak Mahindra Bank Ltd., where he rose to the position of Executive Vice-President – Institutional Business (Retail Liabilities). He was also associated with The Karur Vysya Bank as Chief General Manager & Group Head-Consumer Banking, where he demonstrated exceptional leadership and expertise.
Subhash Dandekar, the head of the Camlin Group of Industries, passed away today at the age of 81 in Mumbai. Dandekar was instrumental in transforming Camlin into a leading name in the production of high-quality painting materials. Under his exceptional leadership, Camlin significantly expanded its product range to include office supplies, professional artist tools, and educational materials such as mathematical instruments, pencils, markers, and inks. Shares of Kokuyo Camlin will be in focus.
Hindustan Unilever Ltdon Monday announced that it has entered into a deal with the Indian division of AO Smith to sell its water purification business for an enterprise value of ₹601 crore, equivalent to $72 million. The proposed transaction will be undertaken via a slump sale through a business transfer agreement between HUL and AO Smith India Water Products Pvt.
NLC Indiaa has formally bagged a large coal mine in Odisha — one that has the potential to double the company’s lignite-cum-coal production. The company has signed a Coal Mine Development and Production Agreement with the Ministry of Coal, formally taking over the Machhakata coal mine in Angul district of Odisha. NLC India expects to spend around ₹12,000 crore in developing the mine. It was won on a ‘revenue sharing’ model. Production is likely to commence in 2030. NLC India won the mine in the 8th round of auctions held by the Ministry recently.
Tata Steel has embarked on transformation journey by adopting advanced manufacturing techniques and this will lead to unavoidable job losses, especially in the UK. N Chandrasekaran, Executive Chairman, Tata Steel said the company recognises that the transformation is difficult from an execution perspective and also difficult for some of the employees who will not have a future with Tata Steel, especially in the UK. The company is working with the government and unions to make sure that the company does a sufficient level of investment to support them in their skill development so they can have a better future, he said at the company’s annual general meeting on Monday.
Zee Entertainment Enterprises on Monday passed a resolution for issuance of securities for an amount not exceeding ₹2,000 crore with requisite majority. Shareholder approval for the proposal comes nearly a month after the Zee board gave its in-principle approval to raise up to ₹2,000 crore through the issuance of shares or any other eligible securities.
Lemon Tree Hotels Ltd announces the opening of Lemon Tree Hotel, Centre Point, Jamshedpur. This managed hotel is the first property of the group in Jharkhand. It has 42 well-appointed rooms, Slounge – a hip recreation bar, Republic of Noodles – the award winning Pan-Asian restaurant, a banquet, a fully equipped fitness center and other public areas.
Aster DM Healthcare said it is in receipt of anonymous complaints against certain employees alleging unethical practices and professional misconduct, a forensic investigation is to be initiated by the company. Following this, the company has engaged Grant Thornton Bharat LLP to conduct an independent fact-finding review to ascertain the veracity of allegations pertaining to Aster hospitals located in Medcity, Kannur and Calicut.
Lupin has divested its women’s health specialty business in the US to Evofem Biosciences Inc for a potential total consideration of up to $84 million. The company’s US Commercial Women’s Health Specialty Business is focused on commercialising Solosec (secnidazole) 2g oral granules. The FDA-approved single-dose antimicrobial agent provides a complete course of therapy for the treatment of bacterial vaginosis (BV) and trichomoniasis, two common sexual health infections.
The board of Max Estates has has approved raising ₹800 crore by way of issuing fully paid-up equity shares, fully or partly convertible debentures, other equity-based instruments or securities, convertible preference shares of any kind or type, Global Depository Receipts, American Depository Receipts, Foreign Currency Convertible Bonds, and/or other financial instruments/securities convertible into and/or linked to equity shares .