ICICI Lombard: FAL Corporation, a wholly-owned subsidiary of Canadian investor Prem Watsa’s Fairfax Financial Holdings, has sold 4.99 per cent equity stake in ICICI Lombard general insurance for Rs 2,562 crore in a block deal.
Promoters of the company are planning to sell 38 lakh shares, or 2.5 per cent stake, as per reports.
Tata Motors: Jaguar Land Rover (JLR) will suspend production at its UK plants for one week in November to adjust to adverse market conditions, including uncertainty over Brexit. READ MORE: https://wap.business-standard.com/article-amp/companies/jlr-to-suspend-production-in-uk-plants-for-a-week-in-november-119092601581_1.html
Biocon: The company has made a pledge to offer recombinant human insulin for less than $0.10 per day in low- and middle-income countries (LMICs).
Goodyear India: has decided to close its manufacturing operations of the Plant situated jn 'Ballabgarh, (Distt. - Faridabad), Haryana, from September 27, 2019 to October 02, 2019 (both days inclusive).
Lakshmi Vilas Bank:
The Economic Offences Wing in New Delhi has registered a First Information Report (FIR) against members of the Lakshmi Vilas Bank (LVB) board.
Quess Corp: It has allotted equity shares by way of private placement on a preferential issue basis to Amazon.com NV Investment Holdings LLC.
Sterling and Wilson Solar: Sterling and Wilson Brasil Servicos Ltd, a, a wholly-owned subsidiary of the Company in Brazil, has been dissolved.
Reliance Capital: Brickwork downgraded rating on Reliance Capital’s secured NCDs program, market linked debentures and subordinated debt to ‘D’ due to delay in interest payment for NCDs.
The government may ask the Reserve Bank of India (RBI) to allow co-origination of loans for deposit-taking non-banking finance companies (NBFCs) as well in a bid to boost credit in economy. READ MORE
Piramal Enterprises: SoftBank may shelve plan to invest in Piramal Group, according to a report by The Economic Times.
Bharti Airtel: As per reports, the company’s chief people officer for India, South Asia, Gautam Anand, has resigned from the company with immediate effect.
GMR Infra: The company has tied up with low-fare carrier Thai AirAsia as part of a consortium to bid for the $2-billion expansion project of the U-Tapao airport in Thailand, reports say.
Allcargo, Sical, Coffee Day Enterprises: According to a report by The Economic Times, Allcargo and TVS Supply Chain Solutions are in initial discussions to acquire the supply-chain business of Sical Logistics, the offshore and multimodal logistics services firm owned by the Coffee Day Group.
Sharekhan, which is one of the top five brokerages in India, is going through a restructuring process that could impact 350 employees. A spokesperson for BNP Paribas India said: “Our business is evolving to meet the more complex needs of clients, including through the provision of value-added advisory services, for which we have been hiring.” READ MORE