Technology-driven firm in the aerospace, defence, and homeland security sectors, Apollo Micro Systems Ltd, on Thursday (July 9), said it has entered into a Share Purchase Agreement (SPA) with the promoter shareholders of Premier Explosives Ltd to acquire a 41.33% stake in the company for ₹1,550 crore. The acquisition involves the purchase of 2.22 crore…
Shares of EMS companies, including Dixon Technologies Ltd., Kaynes Technology India Ltd., Amber Enterprises India Ltd. and Syrma SGS Technology Ltd., gained up to 5% on Thursday, July 9, after the Centre exempted basic customs duty (BCD) on specified goods used in the manufacture of display assemblies, inductor coil modules and Lithium-Ion cells to boost…
Pune-based manufacturer of diesel and natural gas engines Cummins India Ltd on Thursday (July 9) informed exchanges that the Income Tax Department has filed appeals before the Bombay High Court against an Income Tax Appellate Tribunal (ITAT) order that had granted relief to the company in respect of adjustments amounting to ₹210.77 crore. The company…
Viatris-owned Mylan is looking to sell part of its 5.64% stake in Biocon Ltd through a block deal, according to sources. The transaction is expected to take place in the coming days and could be executed within the next seven to eight days. Mylan acquired the stake after Biocon completed its acquisition of the company’s…
Groww on Thursday clarified that direct mutual funds will continue to remain the core of its investment platform, seeking to dispel confusion over the launch of its new subscription-based mutual fund offering, MF Prime. In a post on X, the company said direct mutual funds are, and will remain, “the heart of Groww”, adding that…
India’s power companies are expected to report a stronger first quarter of FY27 after electricity demand surged during the April-June period, aided by an intense summer and a delayed monsoon, according to a report by PL Capital. The brokerage expects companies under its power sector coverage (excluding Coal India) to post profit growth of around…
According to a Bloomberg report, Starbucks is working on internally developed AI tools that could replace certain third-party software it currently uses. The company is reportedly developing alternatives to replace Microsoft’s inventory management system and IBM maintenance management platform. Some of these in-house applications could be introduced by the end of next year, but it…
The government has approved the long-pending proposal to form a joint-venture partnership with homegrown smartphone manufacturer Dixon Technologies and Chinese smartphone maker Vivo Mobile India for the manufacturing of smartphones. Dixon Technologies informed the stock exchanges of the regulatory clearance late on Thursday, noting that the government’s nod was granted on July 8. The development…
Leading NBFC player Bajaj Finserv Ltd on Thursday (July 9) shared monthly business updates from its unlisted insurance subsidiaries — Bajaj General Insurance Ltd and Bajaj Life Insurance Ltd — submitted to the Insurance Regulatory and Development Authority of India (IRDAI) and the respective insurance councils. Bajaj General Insurance reported gross direct premium underwritten at…
State-run Oil and Natural Gas Corporation (ONGC) on Thursday said its board has accorded in-principle approval for the development of a 1.75 million metric tonne (MMT) Strategic Petroleum Reserve (SPR) at Mangalore under the Phase-I extension. The company said the project, along with associated facilities, will be developed as a project of national importance in…
