IndusInd Bank, during an internal review of processes relating to parts of its derivative portfolio, has estimated an adverse impact of 2.35 per cent on its networth, a company filing said on March 10. The review was undertaken following RBI’s directions on the investment portfolio of lenders, issued in September 2023, relating to ‘Other Asset and Other Liability’ accounts of the portfolio. The bank said it has noted some discrepancies in these account balances.
Bharat Electronics Limited (BEL), has secured additional orders worth ₹843 crore. Major orders include RF seekers, vessel and air traffic management systems, electrooptic repair facility, radar upgradation, spares, services, etc. With these, the total accumulated orders received by BEL during the current financial year stand at ₹14,567 crore.
The Ministry of Corporate Affairs (MCA) on Monday said it is examining the probe report on the affairs of Salt Experiences and Management Pvt Ltd (SEMPL) and Hero MotoCorp Ltd, and that no final conclusion should be drawn at this stage. In June 2023, an investigation was ordered into the affairs of SEMPL and Hero MotoCorp, for alleged irregularities and an investigation was carried out through the Office of the Regional Director (Northern Region) under the ministry. Later, the report was submitted to the ministry. In a statement on Monday, the ministry said the investigation report into the affairs of the two companies is under examination and that “no final conclusion should be drawn in this matter at this stage”.
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Hitachi Energy India has launched a Qualified Institutions Placement. The company has set the floor price at ₹12,112.50 per share and may offer a discount of up to 5 per cent at its discretion.
Syngene International on Monday said it has acquired its first manufacturing facility in the US for around $50 million. Syngene USA Inc, a wholly-owned subsidiary of the company, has acquired the site from Emergent Manufacturing Operations Baltimore, LLC. The acquisition will help the company better serve its customers across both the human and animal health market segments, Syngene International said in a statement.
The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed petitions challenging ICICI Securities’ delisting process from stock exchanges, saying appellants failed to demonstrate any illegality in the procedure. Rejecting the petitions, a two-member NCLAT bench said the petitioners did not have requisite shareholding and were trying to stop a process approved by 93.82 per cent of equity shareholders and 71.89 per cent of public shareholders. As per the scheme of arrangement, shareholders of ICICI Securities (ISEC) will get 67 shares of ICICI Bank for every 100 shares they hold.
Infosys Finacle on Monday announced the successful migration of Cholamandalam Investment and Finance Company’s operations to the Finacle treasury solution. According to a release, the move will centralise treasury management on a unified web-based platform for Chola. It, however, did not divulge the financial details of the contract.
Quest Global on Monday announced the acquisition of US-based VLSI design company Alpha-Numero Technology Solutions. Irvine, CA-headquartered Alpha-Numero employs over 150 engineers globally. Its research and development centres are in Ahmedabad, Hyderabad, and Endicott, according to a release.
The board of NLC India has inter-alia considered and in-principal approved External Commercial Borrowing within the overall ceiling of Japanese Yen equivalent to $200 million with an equivalent green shoe option.
Anupam Rasayan India has signed a 10-year letter of intent valued at $106 million (approximately ₹922 crores) with a Korean multinational recognised for its leadership in specialty chemicals for a high-performance niche chemical expected to be supplied from FY26. This long-term partnership reinforces Anupam’s expertise in delivering advanced chemical solutions and strengthens its presence in high-growth global markets.
MSTC Ltd has received a work order from Coal India for engagement as an E-auction Service Provider for conducting the e-auction of coal and coal products of CIL/ coal companies for two years.
Sangam India has informed the exchanges about a fire at the company’s Denim Division located at Billiya Kalan, Bhilwara, Rajasthan March 6. Further, as per the estimated provisional loss due to the fire it is considered as a material event and it has adequate insurance coverage. The claim process with the insurance company has been initiated.