Zee Entertainment, Craftsman Automation and Swan Energy to see some action today

25 Jun 2024 Evaluate

Zee Entertainment Enterprises has incorporated wholly owned step-down subsidiary company by name Zee Media Kenya (ZMKL) in Kenya. ZMKL is incorporated with an objective of pursuing Broadcasting Business to launch the FTA Channel in Kenya and East Africa.

Craftsman Automation has entered into a Memorandum of Understanding (MoU) with Sunbeam Lightweighting Solutions (Sunbeam) and Kedaara Capital Fund II LLP (Kedaara), for acquiring the whole or part of the business of Sunbeam (excluding certain specific assets of Sunbeam situated in Gurugram) in one or more tranches.

Swan Energy has received approval for the acquisition of 26,21,50,000 equity shares of Rs 10 each of Triumph Offshore (TOPL) (representing 49% of total equity of TOPL) from Indian Farmers Fertiliser Cooperative (IFFCO) at a total price of Rs 440 crore, as per duly executed Share Purchase Agreement. At present, the company holds 51% equity in TOPL. With the above acquisition, TOPL shall become 100% subsidiary of the company. The acquisition is to be completed on or before August 10, 2024. The Board of Directors of the company at its meeting held on June 24, 2024, has approved the same.

Sun Pharmaceutical Industries (together with its subsidiaries and/or associated companies) has successfully completed the merger of Taro Pharmaceutical Industries (Taro) with its subsidiary. As part of this merger, Sun Pharma acquired all outstanding ordinary shares of Taro other than the shares already held by Sun Pharma or its affiliates. As a result of the merger, Taro is now a private company and wholly-owned by Sun Pharma. Sun Pharma has been the majority shareholder of Taro since 2010.

Amara Raja Energy & Mobility’s wholly owned subsidiary -- Amara Raja Advanced Cell Technologies (ARACT) has signed a technical licensing agreement with GIB EnergyX Slovakia s.r.o., a subsidiary of Gotion High-Tech Co. As part of the agreement GIB EnergyX will license Gotion’s world class LFP technology for lithium-ion cells to ARACT. This comprehensive agreement enables Amara Raja to manufacture world class LFP cells in both cylindrical and prismatic form factors. The scope of licensing provides access to cell technology IP, support in establishing Gigafactory facilities conforming to latest generation process technologies, integration with Gotion’s global supply chain network for critical battery materials, and customer technical support for solution deployment.

Ceinsys Tech has been awarded further extension letter up to December 31, 2024, for two of the major projects from State Water and Sanitation Mission (SWSM), Uttar Pradesh as Consultant for Third Party Inspection (TPI) and Monitoring of Physical and Financial Progress through a Quality and Cost Based Selection (QCBS) process for various Rural Water Supply Projects for two clusters viz. Lucknow and Devipatan.

Maruti Suzuki has received a show cause notice (SCN) from the Goods and Services Tax (GST) Authority, Gujarat, amounting to Rs 5.4 crore. The notice concerns alleged denial of input tax credit on certain services during the period from July 2017 to March 2023.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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