State Bank Of India

Adani Logistics, a wholly-owned subsidiary of Adani Ports and Special Economic Zone, has signed a definitive agreement to acquire ICD Tumb (Vapi) from Navkar Corporation for Rs 835 crore. The deal comprises the acquisition of the operational ICD (inland container depot) with a capacity to handle 0.5 million TEUs (twenty-foot equivalent unit).

Techno Electric & Engineering Company has recently secured prestigious new orders for FGD totaling to Rs 1,455 crore. The details are as follows: Rajasthan Rajya Vidyut Utpadan Nigam LTD - Kota - Rs 666 crore (1x210 MW +2X 195 MW). Rajasthan Rajya Vidyut Utpadan Nigam LTD - Jhalawar - Rs 789 crores (2x 600 MW).

Maithan Ferrous (MFPL), a subsidiary of Maithan Alloys, had submitted a proposal for installation of Ferro Alloy Ptant of 4x16.5 MVA Submerged Arc Furnaces along with Sinter & Briquette Plant at District Bankura, West Bengal, with Ministry of Environment, Forest and Climate Change (MoEF&CC). The MoEF&CC on August 11, 2022 communicated the Minutes of the Expert Appraisal Committee held during August 1-3, 2022 to MFPL, recording the recommendation for the grant of Environment Clearance under the provisions of EIA Notification, 2006 (subject to the stipulation of certain specific and general conditions) to the instant proposal of MFPL.

Arvind SmartSpaces has incorporated the wholly owned subsidiary namely Arvind SmartHomes. As per the certificate of incorporation dated August 12, 2022, issued by the Registrar of Companies, Ministry of Corporate Affairs and the date of the incorporation of the subsidiary is August 12, 2022. The subsidiary shall be in the business of construction and development of real estate projects. The company will hold entire 100% stake in Arvind SmartHomes and will subscribe to 10,000 equity shares at the face value of Rs 10 each aggregating to Rs 1 lakh in cash. 

Lupin is rationalizing its product portfolio in the US, transitioning from simple oral solid medicines to more complex generics to overcome the impact of price erosion witnessed in the market. In the years to come, the company hopes to have up to 40 per cent of its revenue coming from such medicines in the US market with its planned product pipeline for complex generic medicines in the next two years.

NLC India has reported a rise of 59.07% in its consolidated net profit at Rs 568.83 crore for the quarter under review as compared to Rs 357.59 crore for the same quarter in the previous year. Total consolidated income of the company increased by 23.10% at Rs 3966.01 crore for Q1FY23 as compared Rs 3221.79 crore for the corresponding quarter previous year.

State Bank of India (SBI) has launched its first branch dedicated to start-ups in Koramangala, Bengaluru. Apart from providing funding and regular banking service to start-ups, SBI will also support such players through associated services such as investment banking, treasury operations, advisory and other ancillary financial services through its subsidiaries. The branch will provide services ranging from the stage of formation of start-ups to Initial Public Offerings and Follow-on Public Offerings.