Bajaj Consumer Care Ltd (BBCL), a prominent fast-moving consumer goods (FMCG) company, has recently unveiled a revolutionary 100% Henna product in the haircare segment. This launch comes at a time when the market experiences subdued demand and volume growth due to inflationary pressures.
According to a report from The Economic Times (ET), the Reserve Bank of India (RBI) has authorized Reliance Industries (RIL) to retain an additional $2 billion on top of the $3 billion it raised during the 2022-23 fiscal year (FY23). Sources cited in the report reveal that Reliance intends to utilize the surplus funds for working capital requirements and to fuel the growth of its new energy and telecom ventures.
New Delhi, June 22, 2023 – NTPC (National Thermal Power Corporation) announced today that its Board of Directors will convene in New Delhi on Saturday, June 24, 2023, to consider the issuance of bonds or non-convertible debentures (NCDs) amounting to Rs. 12,000 crore. The final decision is subject to approval by the company’s shareholders at the upcoming annual general meeting.
Mumbai, June 21, 2023: India Infrastructure Finance Company Ltd (IIFCL), a state-owned infrastructure lender, is gearing up to raise ₹17,000 crore through bond issuance in the current financial year. The move comes as IIFCL prepares to meet the increasing demand for project finance, according to the company’s Managing Director, PR Jaishankar.
Tata AIA Life
Tata AIA Life Insurance, a subsidiary of the Tata Group, has announced a significant dividend payout of Rs 1,183 crore to participating policyholders for the previous fiscal year. This dividend represents a remarkable 37% increase compared to the previous year, making it the highest dividend payout to date.
LIC Mutual Fund
LIC Mutual Fund (LICMF) has unveiled its plans to acquire the schemes of IDBI Mutual Fund (IDBIMF), signaling a significant development in the mutual fund industry. In a letter sent to all unitholders of IDBIMF schemes, the company outlined the proposed changes in sponsorship, trusteeship, management, and administration that would accompany the acquisition. Complying with regulations, IDBIMF has also provided unitholders with the option to exit their investments without incurring any exit load.
Societe Generale, a financial services group based in Europe, has acquired 296,000 shares, equivalent to a 0.56% equity stake, in the diagnostic and preventive care laboratories chain Thyrocare Technologies. The shares were purchased at an average price of Rs 527.93 per share.
Quant Mutual Fund has increased its stake in the largest wine manufacturer in the country by acquiring an additional 500,000 shares, representing a 0.59% equity stake. The acquisition was made through open market transactions at an average price of Rs 470.99 per share. However, Karishma Singh sold the same number of shares at an average price of Rs 471 per share. As of March 2023, Quant Mutual Fund, through its Quant Quantamental Fund, held 2.103 million shares, accounting for a 2.5% stake in Sula Vineyards.
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