1 / 11Vedanta | The company is set to invest $2 billion in Saudi Arabia to establish copper-processing facilities, marking a major boost for the kingdom’s ambitions to become a global hub for mining and metals. The investment will fund the construction of a smelter and refinery with a capacity of 400,000 metric tonnes per year. Vedanta also plans to build a facility producing up to 300,000 tonnes annually of copper rods, a crucial component for electric cables.
2 / 11Dabur | Indian FMCG major said it has received an order from the Additional Commissioner, CGST Commissionerate, Chandigarh, confirming a demand of ₹320.6 crore along with applicable interest. The demand pertains to tax ascertained by the Directorate General of Goods and Services Tax Intelligence, as part of an ongoing review of the company’s tax compliance. The company clarified that the order does not impact its operations or business activities, and the financial impact will be limited to the final tax liability and any related interest.
3 / 11Siemens | Engineering and automation major reported a 45.4% year-on-year (YoY) jump in net profit at ₹830.7 crore for the fourth quarter that ended on September 30, 2024. In the corresponding quarter of the previous fiscal, Siemens posted a net profit of ₹571.3 crore. The CNBC-TV18 poll had predicted a profit of ₹717 crore for the quarter under review. The company's revenue from operations increased 11.2% to ₹6,461 crore against ₹5,807.7 crore in the year-ago period. The CNBC-TV18 poll had predicted revenue of ₹6,526.1 crore for the quarter under review.
4 / 11GE Vernova | The company announced that its promoter, Grid Equipments Private Ltd, will exercise the green shoe option in its offer for sale (OFS). The total offer size will reach up to 21,451,168 equity shares, representing 8.38% of the company’s paid-up equity capital. The OFS comprises a base offer of 14 million shares (5.47% of equity), with an additional green shoe option of 7,451,168 shares (2.91%). The floor price for the offer is set at ₹1,550 per share.
5 / 11Exide Industries | Battery maker said it has made a ₹99.99-crore investment in its wholly-owned subsidiary, Exide Energy Solutions Ltd (EESL), through a rights issue. This investment increases EIL's total stake in EESL to ₹3,052.24 crore, with no change in the ownership percentage, which remains at 100%. EESL, incorporated in March 2022, is focused on manufacturing and selling lithium-ion battery cells, modules, and packs for the electric vehicle (EV) market and stationary applications in India.
6 / 11Patanjali Foods | State-owned Life Insurance Corporation of India (LIC) said it has increased its shareholding in edible oil major from 4.986% to 5.02% of the company’s paid-up capital. The move involved the acquisition of 1,25,000 equity shares through an open market purchase at an average price of ₹1,764.96 per share. Following the transaction, LIC’s total equity holding in Patanjali Foods rose from 1,80,48,377 shares to 1,81,73,377 shares.
7 / 11NTPC | NTPC Green Energy under the Ministry of Power has partnered with Maharashtra State Power Generation Company (MAHAGENCO) to form a 50:50 joint venture company. The joint venture, named MAHAGENCO NTPC Green Energy Private Ltd (MNGEPL), will focus on developing, operating, and maintaining renewable energy parks across Maharashtra. These parks, part of the Ultra Mega Renewable Energy Power Parks (UMREPP) programme, aim to attract investments by providing infrastructure and land for renewable energy projects.
8 / 11UltraTech Cement | India's largest cement manufacturer said it has approved the allotment of unsecured redeemable non-convertible debentures (NCDs) worth ₹1,000 crore on a private placement basis. The NCDs, with a tenure of 10 years, will be listed on the National Stock Exchange (NSE). The debentures, with an interest rate of 7.22%, were allotted on November 26, 2024, and are set to mature on November 24, 2034. The principal amount will be redeemed at par on the maturity date.
9 / 11Kotak Mahindra Bank | The Competition Commission of India (CCI) on Tuesday approved Kotak Mahindra Bank's proposed acquisition of Standard Chartered Bank India's personal loans portfolio for ₹4,100 crore. "The proposed combination is in the nature of an acquisition of the Target Business (unsecured personal loans portfolio) by Kotak Mahindra Bank Ltd (acquirer) from the Standard Chartered Bank, India Branch (Transferor)," CCI said in a release.
10 / 11Aster DM Healthcare | Hospital chain said it has entered into an agreement to acquire the balance stake in Aster Adhaar Hospital (Prerana Hospital Limited) in Kolhapur, Maharashtra. With this acquisition, Aster DM Healthcare will own 100% of the target company, from the 87% stake it previously held. The transaction will be completed in two tranches and the indicative time period for completion of the acquisition is December 31, 2025.
11 / 11Zee Entertainment | The company said its subsidiary, Margo Networks Private Ltd, faced a setback as the Arbitral Tribunal rejected their claims against Railtel Corporation of India Ltd. The claims pertained to the alleged wrongful termination of a Content on Demand Agreement and the forfeiture of funds by Railtel. The Tribunal also dismissed the counterclaims filed by Railtel in the same arbitration proceedings.
