Titan Company has clocked a standalone revenue growth of 9 per cent in the first quarter ended June 30, 2024 (Q1FY25). The company has added 61 stores during April-June FY25, taking its combined retail network presence to 3,096 stores. Its jewellery division, which contributes over three-fourths of its revenue, reported 9 per cent growth in the domestic market and added 34 stores.
The United States Food and Drug Administration (USFDA) has issued an Establishment Inspection Report (EIR) to Fermenta Biotech’s manufacturing facility situated at Dahej, Gujarat, India with no observations as to any significant objectionable conditions, and the inspection has been successfully ‘closed’ by the USFDA.
Coforge has acquired 4,618,199 equity shares of Cigniti, representing 16.92 per cent of the current paid-up share capital and 16.76 per cent of the expanded capital, at Rs 1,398.50 per share. Following this acquisition, Coforge now holds 27.98 per cent of the current paid-up share capital and 27.73 per cent of the expanded capital of Cigniti.
JM Financial has received approval for acquisition of 42.99% stake in JM Financial Credit Solutions (JMFCSL) for a consideration of around Rs 1,282 crore. Post transaction, the stake held by JM Financial in JMFCSL shall increase from 46.68% to 89.67%.
Federal Bank has launched new Life Insurance products. This product caters to domestic market. The bank has launched new product on July 5, 2024. Furthermore, the bank has entered into a strategic Bancassurance partnership with Bajaj Allianz Life Insurance. With this collaboration, it now has a total of 10 insurance partners. This strategic alliance aims to provide Federal Bank's customers access to Bajaj Allianz Life insurance company’s product suite.
Union Bank of India’s global deposits grew 8.52% to Rs 12,24,191 crore (Provisional) as of June 30, 2024 (Q1FY25), as compared to Rs 11,28,052 crore as of June 30, 2023 (on a yearly basis). On a quarterly basis, the global deposits stood at Rs 12,21,528 crore as of March 2023.
UGRO Capital has received approval to raise upto Rs 75 crore through issuance of upto 7,500 Listed, Rated, Senior, Secured, Taxable, Redeemable, Non-Convertible Debentures (NCDs) denominated in Indian Rupees, having a face value of Rs 1 lakh each and an aggregate face value of Rs 75 crore, in dematerialised form, on a private placement basis.
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