Zomato: SoftBank, a Japanese investment company, plans to sell shares of Zomato worth $135 million (approximately Rs 1,125.5 crore). These shares will be sold at a price of Rs 120.50 per share.
Maruti Suzuki India: The company, known for being India’s largest carmaker, received an order withdrawing a previous notice from the Gujarat Goods and Services Tax (GST) Authority. The notice demanded Rs 1.79 crore in taxes for the period between July 2017 to March 2018.
TVS Electronics: A part of the TVS Group, the company faced an order from the office of the Commissioner of Customs (Audit), Chennai, amounting to Rs 35.58 crore. This order includes differential duty and fines on the company, its Customs House Agent, Company Secretary, and other officials. TVS Electronics is appealing this order before the CESTAT in Chennai.
Shriram Finance: The company has signed an agreement with the Small Industries Development Bank of India (SIDBI) for co-lending loans to Micro, Small, and Medium Enterprises (MSMEs).
IIFL Securities: The Securities Appellate Tribunal (SAT) overturned a Securities and Exchange Board of India (SEBI) order that restricted the company from onboarding new clients as a stockbroker for two years. Additionally, the penalty imposed by the adjudicating officer was reduced to Rs 20 lakh.
Container Corporation of India (CONCOR): CONCOR and NTPC Vidyut Vyapar Nigam (NVVN) have agreed to set up solar energy projects in CONCOR terminals. This move aligns with their commitment to reduce carbon emissions and promote renewable energy.
Birla Corporation: The Nomination and Remuneration Committee and Audit Committee have extended the term of Aditya Saraogi as the Chief Financial Officer (CFO) for an additional four years, starting from February 1, 2024.
Olectra Greentech: The electric bus manufacturer secured a contract to supply and maintain 40 electric buses for Vasai Virar City Municipal Corporation in Mumbai. The total value of this supply is Rs 62.80 crore.
IRCON International: The Government of India decided to sell an additional 4 percent stake in the offer-for-sale (OFS) issue of IRCON International. The issue had a strong subscription, being oversubscribed 4.6 times the base issue size. The sale will be open for retail investors on December 8.
These updates provide insights into the financial, automotive, technology, and infrastructure sectors, showcasing the current developments and activities within these companies.