ICICI Bank: ICICI Bank has refuted allegations of paying salary or granting stock options to SEBI Chairperson and former employee Madhabi Puri Buch. This statement follows claims by Indian National Congress spokesperson Pawan Khera, who alleged that Buch received ₹16.8 crore from the bank group between FY18 and FY24. The bank clarified in a regulatory filing that neither ICICI Bank nor its group companies have paid any salary or granted to Buch post-retirement, except for her retiral benefits. They also noted that she opted for superannuation from 31 October 2013.
Vedanta: Vedanta Ltd's Board of Directors has approved the issuance of an interim dividend for the third time in the financial year 2024-25, as per the company's filings with the Bombay Stock Exchange (BSE) on Tuesday, September 2. The mining giant announced an interim dividend of ₹20 per equity share with a face value of ₹1 per share for FY25. The total dividend payout amounts to ₹7,821 crore, according to the company's statement.
Yatra Online: Online travel agency Yatra Online Ltd announced on Monday its acquisition of Globe All India Services Ltd (Globe Travels) from Ramkrishna Forgings Ltd for ₹128 crore. This strategic acquisition aims to strengthen Yatra’s corporate business and support its inorganic growth strategy. Expected to be completed within this quarter, the acquisition will enhance Yatra’s capabilities in reservation and booking services, encompassing both corporate and leisure travel, as well as tour planning and car rentals. Additionally, the acquisition is set to expand Yatra’s corporate client base by 40 percent, adding 360 companies to its existing 850 clients.
Signature Global: Property developer Signature Global is planning to invest ₹1,500 crore this year to acquire land as it seeks to expand its presence in Gurugram and enter the Noida market in the National Capital Region (NCR). The company intends to purchase land through outright transactions and auctions conducted by the Noida Development Authority, according to founder and chairman Pradeep Aggarwal.
Adani Power: The Supreme Court on Monday agreed to hear a plea by Adani Power Ltd seeking a ₹280 crore refund from the Himachal Pradesh government concerning the 960-megawatt Jangi Thopan Power Project in Kinnaur district. A bench of Justices M.M. Sundresh and Aravind Kumar issued a notice to the state government but refused to stay a recent Himachal Pradesh High Court order that overturned a single bench's decision to refund the ₹280 crore premium associated with the hydropower project. Adani Power has challenged the High Court's ruling.
TVS Motor Company: TVS Motor Company reported a 13 percent growth in total sales for August 2024, reaching 391,588 units compared to 345,848 units in the same month last year. The two-wheeler segment saw a 14 percent increase, with sales rising from 332,110 units in August 2023 to 378,841 units in August 2024. Domestic two-wheeler sales grew by 13 percent, reaching 289,073 units, up from 256,619 units in the previous year.
Mahindra & Mahindra: Mahindra & Mahindra announced a 9 percent year-on-year increase in total wholesales for August, reaching 76,755 units. Dealer dispatches for the month stood at 70,350 units. Domestic passenger vehicle sales rose by 16 percent, with 43,277 units sold compared to 37,270 units in August of the previous year. The company's exports also increased by 26 percent, with 3,060 units shipped compared to 2,423 units in August 2023. Additionally, Mahindra's total tractor sales for August reached 21,917 units.
Adani Green Energy: With TotalEnergies planning to invest an additional $444 million in Adani Green Energy to establish a joint venture, the Adani Group company's board has approved definitive agreements to operationalize this investment.
Indian Renewable Energy Development Agency (IREDA): IREDA aims to raise approximately ₹25,000 crore through debt and ₹4,500 crore through equity in the current fiscal year. The company is also seeking government approval for a natural dilution of up to 10 percent of its stake and hopes to be included in the list of companies eligible to raise funds through bonds under Section 54EC of the Income Tax Act.
Sterlite Technologies: The company has reached a $467,400 settlement with the Data Management Centre to resolve a dispute related to delays and unmet obligations. This settlement, which does not involve an admission of liability, settles claims that originally amounted to $2.7 million.
NMDC: The company reported a 9.9 percent decline in iron ore production for August, producing 3.07 million tonnes, down from 3.41 million tonnes in the same month last year. Additionally, NMDC's cumulative production for April-August 2024 dropped to 14.43 million tonnes, compared to 16.56 million tonnes in the previous year.
Vodafone Idea: The telecom company has received tax demand orders totaling over ₹73 crore from various GST offices for alleged short payment of taxes and excess input tax credit claims. The largest penalty, ₹33.44 crore, was imposed by the GST office in Kolkata.
Hindustan Aeronautics Limited (HAL): The Cabinet Committee on Security (CCS) has approved the acquisition of 240 AL-31FP aero-engines for the Indian Air Force’s Su-30 MKI aircraft. The contract, valued at over ₹26,000 crore, will be executed by Hindustan Aeronautics Ltd (HAL) under the Buy (Indian) category.
