The company posted a loss of Rs 72.3 crore for the quarter ended December 2021 against a profit of Rs 322 crore in the year-ago period. However, revenue grew 52 percent YoY to Rs 4,026 crore in Q4CY21.
The company is going to buy a 4.7 percent stake in Indus Towers, from Vodafone. It has entered into an agreement with Euro Pacific Securities, an affiliate of Vodafone Group Plc for the acquisition of a stake in the tower infrastructure company.
Hinduja Global Solutions
Subsidiary HGS International Mauritius has completed the acquisition of the Australian company Diversify. In January, its arm entered into a definitive agreement to acquire a 100 percent equity stake in Diversify Offshore Staffing Solutions Pty Ltd, Australia.
Patel Engineering’s wholly-owned subsidiary, Patel Energy Resources, has divested its entire stake in Nepal arm Naulo Nepal Hydroelectric for Rs 11.53 crore.
Mahindra & Mahindra
M&M is likely to invest at least Rs 3,000 crore for developing electric vehicles (EV) over the next three years, with the capital expenditure on EVs and internal combustion engine vehicles approximating each other, as per a report.
The government has granted in-principle approval for the development of a 400MW solar park at Kinnaur, to SJVN. These projects will assist SJVN in achieving its ambitious shared vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW by 2040.
Mahindra Lifespace Developers
Kotak Mahindra Mutual Fund bought additional 2.19 lakh equity shares through open market transactions on February 23. With this, its shareholding in the company stands at 5.13 percent now, up from 4.98 percent earlier.
The aluminium major has entered into an agreement with Brazilian firm Terrabel Empreedimentos to divest entire equity shareholding in the wholly-owned step-down subsidiary Hindalco Do Brazil Industria Comercia de Alumina LTDA.
Rating agency CRISIL has upgraded long term rating to ‘AA-, from ‘A+’ for the private hospitals’ chain, and placed the rating on watch with developing implications. Further, the short-term rating has been upgraded to A1+, from ‘A1’ and placed the rating on watch with developing implications.
Buyout group TPG has joined forces with Hinduja family-owned IndusInd Bank and a private promoter entity of the lender to form a consortium and make a firm bid for IDFC’s mutual fund business, according to a report.
The company has bagged an order for “Construction of Road from Paletwa (Myanmar) to Zorinpuri (Mizoram) under Kaladan Multi Modal Transit Transport Project (KMMTTP)” in Myanmar, on EPC mode at a lump sum cost of Rs 1,780 crore by Ministry of External Affairs, Government of India.