CGSB: The company will add the Vindhya Basin to production. The Hatta #3 exploration well was drilled in the Son Valley sector of Madhya Pradesh. During testing, the well produced over 62,044 cubic meters/day of gas, confirming the production potential of the Proterozoic basin for the first time in India.
ONGC, Petroleum India, GAIL India, RIL: The price of locally produced natural gas has been doubled. The gas price for regulated fields will be $6.1 per million British Thermal Unit, more than double the current price of $29 per million Btu. The new price will be in effect for six months from April 1.
Hindustan Oil: Pre-commissioning and safety checks at the KGB-offshore and FSO Prem Pride facility have been completed. The system is ready to receive the first hydrocarbons.
Nestle India: Consider declaration of dividend on April 11.
Lupine: The US FDA concluded an inspection at the company’s wholly-owned subsidiary, Novel Laboratories based in Somerset, New Jersey. The inspection ended with thirteen observations. The company does not believe this will impact the disruption of supplies or existing revenues from the operation of this facility. The facility contributes less than 5% of its global revenue, the company said.
Tata Consulting Services: Consider declaration of final dividend on April 11.
National Bank of India: India’s largest public sector lender has acquired a 5% stake in India Debt Resolution Company.
Vedanta/Hindustan Zinc: The company will provide 580 MW of renewable energy for its operations. at Hindustan Zinc, Bharat Aluminum Co. and Vedanta Ltd.
Sterlite Technologies: The company has sold 64.98% stake in Maharashtra Transmission Communication Infrastructure for Rs 43 crore.
Club Mahindra: The company voluntarily liquidated its Finnish branch Suomen Vapaa-aikakiinteistot Oy LKV.
Adani Companies: The unit wins an order of Rs 2,010 crore from NHAI.
Adani Wilmar: The company subscribed for 90,000 shares of Rs 10 each of AWL Edible Oils and Foods, a wholly owned subsidiary.
Bank of Punjab and Sindh: The bank issued 272.51 crore shares with a face value of Rs 10 each at Rs 16.88 per share on a preferential basis to the Government of India. Government ownership has now fallen from 97.07% to 98.25%.
Kansai Nerolac Paints: Consider the dividend on May 10.
CNC: The company will sell its entire stake in NCC Vizag Urban Infrastructure to GRPL Housing for Rs 199.5 crore.
Future Retail: The company has reappointed Kishore Biyani as executive chairman for three years from April 1. CEO Sadashiv Nayak resigned.
Union Bank: The bank reduced its stake in India Debt Resolution Co. from 12.3% to 5%.
National Bank of Punjab: The bank reduced its stake in India Debt Resolution Company from 11.18% to 5%.
Novartis/Bosch: Consider declaration of final dividend on May 19.
Indian bank: The bank has appointed Sunil Jain as CFO in place of Arun Kumar Bansal, effective March 31.
Japanese Asset Management: Consider declaration of dividend on April 26.
Vardhaman Textiles: The company has received NCLT approval for the proposed merger of VMT Spinning Company, Vardhman Nisshinbo Garments with Vardhman Textiles.
Mangalore Refinery and Petrochemical: The company acquired mandatory convertible debentures from ONGC Mangalore Petrochemicals for Rs 1,019.99 crore.
BASF: Consider declaration of dividend on May 9.
Gokalda exports: The company expects a two-week delay in raw material imports due to lockdowns in China, which could partially impact production in the near term.
CEAT: The company said it had “never participated in a cartel or engaged in anti-competitive practices” after media reports said India’s Competition Commission raided the company’s offices on March 30.
CSB Bank: The bank’s managing director and CEO, CVR Rajendran, took early retirement effective March 31.
Quote: The company has obtained tentative approval for Dolutegravir Lamivudine from the US FDA.
Ritesh Industries and Properties: The company has listed 12.22 lakh shares of Rs 10 each, issued with a premium of Rs 12 to the promoter on a preferential basis exercising the possibly fully convertible debentures.
Ruchi soy: The company has approved the issue price of Rs 650 per share for its follow-on public offer.
Raymond: The company has received NCLT approval for the plan to spin off Raymond Apparel, comprising B2C businesses, including apparel businesses.
Wipro: Unit Wipro GE Healthcare launches its new manufacturing facility in Bangalore.