Tata Consumer Products
Tata Consumer will demerge Tata Coffee’s plantation operations into a subsidiary and merge Tata Coffee’s ex-plantation operations with Tata Consumer. Tata Consumer will buy a 10.15 percent stake in Tata Consumer Products UK Group.
The board has granted in-principle approval for divestment of the bank’s stake up to 11.10 percent in National Securities Depository through a market-driven process and also approved selling the bank’s entire stake in Ageas Federal Life Insurance Company to Ageas Insurance International NV, pursuant to exercise of a Call option by Ageas
The two-wheeler maker will increase the ex-showroom prices of its motorcycles and scooters, with effect from April 5, 2022, to partially offset the impact of higher commodity prices. The price increase will be up to Rs 2,000 and the exact quantum of increase will be subject to specific models and the market.
The Government of India proposed to sell more than 9.43 crore equity shares (0.75 percent of the total paid-up equity) through an offer for sale on March 30 and March 31. The government also has an option to sell another lot of more than 9.43 crore equity shares via OFS, collectively representing a 1.5 percent stake. The floor price for the offer has been fixed at Rs 159 per share.
BEL and Defence Ministry contract for the supply of Advanced Electronic Warfare suite for Fighter aircraft of Indian Air Force. The overall cost of the contract is estimated to be Rs 1,993 crore. Sarang’ perform during the 87th Indian Air Force Day celebrations at Hindon Airbase, in Ghaziabad, Tuesday, Oct. 8, 2019.
Jiten Chopra has resigned as Chief Financial Officer (CFO) of the company. The board has approved the appointment of Gaurav Negi as the new CFO.
The strategic review of brands is still on and is expected to be complete by May 31.
Lemon Tree Hotels
The company has signed a License Agreement for a 132-room hotel project at Rishikesh in Uttarakhand under the company’s brand Aurika Hotels & Resorts – Luxury. The hotel is expected to be operational by March 2025. Carnation Hotels, a subsidiary and the hotel management arm of the company, will be operating and marketing this hotel.
Rail Vikas Nigam
The company has signed an agreement with a wholly-owned subsidiary of JK Cement – Jaykaycem (Central) for the development of a 50-km long new railway line between Devendra Nagar and Puraina in West Central Railway in Madhya Pradesh through SPV mode.