GMR Infrastructure, JSW Steel, ICICI Bank, Cipla and others

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Nifty futures on the Singapore Stock Exchange traded down 12.5 points, or 0.08%, to 15,821.50, signaling Dalal Street was heading for a muted start on Tuesday. Positive global indices and buying across most sectors helped benchmarks gain eight tenths of a percent in the past session, extending their uptrend for the third straight session. The BSE Sensex jumped 433 points to 53,161, while the Nifty50 rose 133 points to 15,832.

Sterling Tools

Subsidiary Sterling Gtake E-mobility (SGEM) has made a foray into the electric LCV segment. With this development, SGEM continues to strengthen its presence in the various segments of E-mobility. Starting with supplies to a single Electric 2W customer a year ago, the company has now confirmed orders from over 10 customers.

Bilcare

The company said the board has appointed Shreyans Bhandari as an additional director and chief executive officer of the company. He is the son of Mohan Bhandari, former Chairman and Managing Director, who is now appointed Managing Director.

ICICI Bank

The private lender will maintain its strong market position and market capitalization over the next 12 to 18 months, S&P Global Ratings said and affirmed its “BBB-” long-term credit rating with a stable outlook.

cipla

The pharmaceutical company has agreed to acquire an additional stake of almost Rs 26 crore in digital technology company GoApptiv Private to increase its stake to 22.02%. The investment will be made in shares and mandatory convertible preferred shares and is expected to be completed within 30 days.

JSW Steel

Moody’s Investors Service has announced that it has raised the steelmaker’s Corporate Family Rating (CFR) from Ba2 to Ba1. At the same time, Moody’s changed the outlook for the ratings of JSW Steel Ltd and Periama Holdings LLC from “positive” to “stable”.

Bank of Baroda

The public sector lender said it would raise Rs 5,000 crore by issuing long-term infrastructure bonds. The board at its meeting held on Monday approved the proposal to issue long-term bonds for financing infrastructure and affordable housing projects worth Rs 5,000 crore.

Star Health and Allied Insurance

The health insurance company has signed a corporate agency agreement with IDFC FIRST Bank, for the distribution of its health insurance solutions to the bank’s customers.

GMR infrastructure

Delhi International Airport’s GMR Infrastructure branch plans to use Rs 1,000 crore for the Phase 3A expansion program. Delhi International Airport (DIAL), a subsidiary of GMR Airports and a declining subsidiary of GMR Infrastructure, has completed the issuance of five-year non-convertible debentures (NCDs) in the amount of Rs 1,000 crore which were listed on the BSE on June 23. The NCDs were priced at an interest rate of 9.52% per annum payable monthly for an initial period of 36 months, then at 9.98% payable monthly. Proceeds from the tickets will be used to partially fund the Phase 3A expansion program.

Brigade companies

Brigade Group has signed a joint development agreement to develop 2.1 million square feet of residential apartments in Chennai. Brigade is targeting revenue of Rs 6,000 crore from its residential business over the next 5 years in the city.

Capri Global Capital

APV Tradesol Pvt Ltd and PACs sold a 2.055% stake in the company via open market transactions. With this, their stake in the company is reduced to 6.102% from 8.156% previously.

Brigade companies

Brigade Group has signed a joint development agreement to develop 2.1 million square feet of residential apartments in Chennai. Brigade is targeting revenue of Rs 6,000 crore from its residential business over the next 5 years in the city.

Indian map clothes

The company said the board declared a special interim dividend of Rs 25 per share on a nominal value of Rs 10 each for the financial year 2022-23. The board also gave its approval for the acquisition of a remaining 40% stake in Garnett Wire, UK – an overseas subsidiary of the company, from joint venture partner – Joseph Sellers & Son Limited.

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