ACC, Ambuja, Bajaj Finance, Marico in the spotlight


ACC and Ambuja Cements: offers open to public shareholders begin today. Adani to buy ACC shares at Rs 2,300; CMP at Rs 2147. Adani to buy Ambuja shares at Rs 385; CMP at Rs 367.

Bajaj Finance: NBFC said new loans recorded in the first quarter of FY23 were 7.4 million, compared to 4.6 million in the first quarter of FY22. The customer franchise as of June 30, 2022 was 60.3 million compared to 50.5 million as of June 30, 2021. The company said it recorded the largest quarterly increase ever in its customer franchise of 2.7 million in the first quarter of FY23.

Marico: India business volumes in Q1FY23 were down mid-single digit, particularly driven by a sharp decline in saffron oils, while Parachute Coconut Oil saw a slight volume decline . Value-added hair oils recorded sub-single digit growth in value despite weak consumer sentiment, especially in rural areas. International activity maintained its strong momentum, recording growth at constant exchange rates. Consolidated revenue for the quarter ended June 2022 increased slightly year-over-year.

Biocon: The Company’s subsidiary, Biocon Biologics, has received an EU GMP certificate from the Healthcare Products Regulatory Authority (HPRA), Ireland, for its new monoclonal antibody drug substance manufacturing facility ( mAbs) (B3) at Biocon Park, Bengaluru, following a GMP inspection in April 2022.

Rama Steel Tubes: The board of directors of the company has recommended the sub-division of the capital share with a nominal value of Rs 5 each into capital shares with a nominal value of Re 1 each on the date of record ( 5 to 1). In addition, the company will acquire 51% of the capital of Ashoka Infrasteel, a partnership company, and 50% of Hagar Mega Mart, through the issuance of new shares of Rama Steel Tubes against the amount of the share subscription.

J Kumar Infraprojects: The company has received a Letter of Acceptance from Brihanmumbai Municipal Corporation for the Design, Construction and Commissioning of Don Bosco Priority Sewer Tunnel – Phase I at New Malad IPS with Lining Method segment in Mumbai. The cost of the project is Rs 571.01 crore. J Kumar Infraprojects in joint venture with Michigan Engineers bagged this project with a ratio of 60:40.

KPI Green Energy: The company received the largest order for the execution of a solar energy project with a capacity of 23.60 MWdp from New Jewelery LLP and a capacity of 3 MWdp from New Diamonds Manufacturing India LLP. The order falls under the company’s ‘captive power producer (CPP)’ segment.

Satia Industries: The company has received an order worth over Rs 105 crore from the National Council for Educational Research and Training (NCERT). The company will supply 11,000 tons of 80 GSM Maplitho paper in sheets and rolls for the printing of textbooks.

Equitas Holdings: The company on Tuesday announced that it has divested its entire stake in Equitas Technologies (ETPL) as part of the requirements under Reserve Bank of India (RBI) standards for its merger with Equitas Small Finance Bank (ESFB).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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