The company plans to complete the separation of its hotel business with an effective date of January 1, 2025, and all eyes are on ITC. Shareholders will be watching closely, especially as January 6 is marked as the qualifying record date. The split ratio for ITC hotels is 1:10. This means that ITC shareholders whose names appear in the company’s books as of January 6 will be entitled to one share in ITC Hotels for every 10 shares in ITC Ltd.
Media conglomerate Viacom18 Media became a subsidiary of Reliance Industries with effect from December 30, 2024, after converting over 24.61 billion Compulsory Convertible Preference Shares (CCPS) into equal number of shares. Previously, Viacom18 Media was an important subsidiary of Network18 Media & Investments Ltd, a subsidiary of Reliance Industries Ltd (RIL). “As a result, Viacom18 became a subsidiary of the Company and ceased to be a subsidiary of Network18 as of December 30, 2024. The Company received a notice regarding allotment of shares from Viacom18 on December 30, 2024,” RIL said. said in a regulatory filing.
Thomas Cook has notified the exchange of a cyber attack on its IT infrastructure. The company further said in the notice that it took immediate action to investigate this breach and is working with cybersecurity experts to contain the impact.
Nishant Pitti, promoter and co-founder of Easy Trip Planners, on Tuesday sold 1.4% stake in the company for Rs 780 crore through an open market transaction. Ease Trip Planners Ltd is the parent company of online travel company EaseMyTrip. According to bulk trading data available on the National Stock Exchange (NSE), Nishant Pitti sold 4.99 billion shares or 1.41% stake in Easy Trip Planners.
India’s state-run Power Grid Corporation announced on Tuesday that it has signed a green financing agreement with Sumitomo Mitsui Banking Corporation (SMBC). The facility is valued at US$200 million in Japanese yen, with a greenshoe option of $150 million, and will develop critical infrastructure for the evacuation and integration of renewable energy into the national power grid, according to a statement from the company. It emphasizes the strategic cooperation between Power Grid and SMBC.
The Competition Commission of India (CCI) gave the permission on Tuesday. Awesome Investments and Infrastructure Indore-based Pratap Snacks is a snack manufacturer that sells chips, nuts and potato chips under the ‘Diamond’ brand. The company operates 15 manufacturing facilities and has partnered with over 5,200 super or sub-distributors, helping it reach over 2.5 million touchpoints across India.
Four Kirloskar companies on Tuesday said they are preparing to legally challenge market regulator SEBI’s letter seeking disclosure of the family settlement deed signed by members of the Kirloskar family on September 11, 2009. Announced.
In separate regulatory filings, Kirloskar Steel Industries Ltd. (KFIL), Kirloskar Industries Ltd. (KIL), Kirloskar Pneumatic Company Ltd., and Kirloskar Oil Engines Ltd. DFS) claimed that it would not be bound by, have no influence on, or cause family reconciliation. LIMITATIONS OR LIABILITIES THEREOF. In a letter dated December 30, 2024, SEBI advised companies to disclose DFSs entered into in their personal capacities between members of the Kirloskar family in accordance with the provisions of SEBI’s Listing Obligations and Disclosure Requirements. said.
TVS Holdings has sold 100% of the entire stake in TVS Emerald (totaling 25.54 billion shares) to Vee Ess Trading, a promoter group company, for Rs 485.85 million.
ITD Cementation has been awarded a Rs 1,648-crore maritime contract for Vadovan Port in Maharashtra, which is set to become India’s largest deep-water port.
Piramal Enterprises has announced an infusion of Rs 1,000 crore into its wholly-owned subsidiary Piramal Capital & Housing Finance Ltd (PCHFL) through subscription of share issue. The funds will be used for business expansion and corporate activities and will ensure that PCHFL remains a 100% subsidiary of Piramal Enterprises.
Sun Pharma Industries has agreed to sell its subsidiary Sun Pharma Japan Technical Operations to Japan’s Zaza Industrial Holdings Co., Ltd. for a nominal consideration of 1 yen. As a result, this entity is no longer a subsidiary. The subsidiary is no longer part of the company.
