👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Corporate moves: TVS to enter Europe, RBI fines, JSW's varied corporate landscape

EditorHari Govind
Published 2023-11-16, 10:34 p/m
© Reuters.
AXBK
-
JSTL
-
PROC
-
TVSM
-
MNFL
-
SJVN
-
9434
-
DELH
-
DCXS
-

MUMBAI - TVS Motor Company is setting its sights on the European market, announcing a strategic partnership with Emil Frey as part of its global expansion efforts. This move marks a significant step for the Indian multinational motorcycle manufacturer as it looks to increase its footprint beyond Asia.

In other corporate news, several companies are making headlines with financial updates and strategic developments:

  • Procter & Gamble (NYSE:PG) Hygiene will trade ex-dividend starting today with a dividend of Rs 105 per share.
  • The Reserve Bank of India (RBI) has imposed fines on Axis Bank and Manappuram Finance, amounting to Rs 90.92 lakh and Rs 42.78 lakh respectively, due to non-compliance issues.
  • SJVN Green Energy has entered into a power purchase agreement with the Solar Energy Corporation of India (SECI) for a 200 MW wind power project. The project, valued at Rs 1,400 crore, is expected to generate 482 million units in its first year of operation. This addition boosts SJVN's total wind portfolio to 497.6 MW.
  • SoftBank (TYO:9984) is planning to reduce its holdings in Delhivery by selling approximately 4% of its stake, which is valued at around $150 million. As of September 2023, SoftBank held a 14.46% stake in the logistics company.
  • JSW Steel has retracted its final mine closure plan for the Jajang iron ore block in Odisha as of September 1, 2023, citing lack of profitability as the reason for this decision.
  • JSW Infrastructure has been awarded the Keni port project in Karnataka. The project comes with an initial capacity of 30 million tonnes per annum (MTPA) and carries an estimated cost of Rs 4,119 crore.
  • DCX Systems has received board approval to raise funds up to Rs 500 crore.
  • Brigade Enterprises is collaborating with Krishna Priya Estates and Micro Labs to develop residential housing in Bengaluru. The project, worth Rs 2,100 crore, is part of Brigade's future pipeline that includes around 13 million square feet of space.

The series of announcements from these companies indicates a dynamic period for Indian corporations as they navigate expansions, partnerships, regulatory challenges, and financial strategies in both domestic and international markets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.