The two-wheeler maker in its BSE filing said the Board of Directors on June 14 will consider a proposal for buyback of fully paid-up equity shares of the company. This seems to be the first buyback announcement, if any, by the company since 2000.
Kotak Mahindra Bank
The private sector lender announced a 0.50 per cent increase in savings account interest rate for deposits of over Rs 50 lakh to 4 per cent, a day after RBI hiked the policy rate to tame inflation. Term deposit rates have also been increased by up to 0.25 per cent.
The country’s largest mortgage lender announced a hike in its retail prime lending rate, while state-owned Indian Overseas Bank raised the repo-based lending rates. This comes a day after RBI hiked the benchmark repo rate by 0.50 per cent to control inflation.
Sebi has let off the homegrown auto major with a warning to be “more careful” in its future dealings in the securities market, saying any adverse orders passed against the company at this stage may not practically serve any purpose for the events accrued over 18 years ago.
Butterfly Gandhimathi Appliances
Crompton Greaves Consumer Electricals now holds 81 per cent equity stake in the company after acquiring 26 per cent stake through open offer on June 8, up from 55 per cent earlier.
Sona BLW Precision Forgings
The company informed exchanges that the Board has re-appointed Vivek Vikram Singh as the Managing Director and Group CEO of the company for a period of 5 years starting from July 5, 2022, to July 4, 2027. This is subject to the approval of the shareholders.
Dr Reddy’s Laboratories
Nasdaq-listed Olema Pharmaceuticals, Inc signed an exclusive Collaboration and License Agreement with the company’s subsidiary Aurigene Discovery Technologies to discover and develop novel cancer therapies. Under the terms of the agreement, Olema will make an upfront licensing payment of $8 million for rights to a pre-existing Aurigene program. Aurigene will be eligible for up to $60 million in potential clinical development and regulatory milestones and up to $370 million in potential commercial milestones, as well as royalties ranging from the mid-single digits to the low double digits based on annual net sales.
LGOF Global Opportunities sold 6,901 equity shares in the company via open market transactions on June 7. With this, its shareholding in the company stands reduced to 5.999 percent, down from 6.012 percent earlier.
The company’s subsidiary Oriental Aromatics & Sons has received environmental clearance for its proposed greenfield project for manufacturing of speciality chemicals & chemical intermediates, at additional MIDC Mahad, Maharashtra.
Asian Granito India
The company informed exchanges that the board has appointed Mehul Shah as new Chief Financial Officer of the company with effect from June 10, after Amarendra Kumar Gupta has tendered his resignation from the statutory position of Chief Financial Officer.
The company has received orders worth Rs 73.39 crore consisting of Rs 51.09 crore from one of the leading private telecom operators of the country for supply of UBRs (unlicensed band radio) along with accessories. The order worth Rs 22.30 crore has been bagged from one of the leading EPC players of India for supply of optical fibre cables.
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