HDFC Asset Management Company (HDFC AMC) said it has decided to provide a liquidity arrangement to certain fixed maturity plan (FMP) schemes of HDFC Mutual Fund, to deal with the illiquidity faced by such FMP schemes due to their exposure to the non-convertible debentures (NCDs) issued by the Essel Group companies. The liquidity arrangement may involve an aggregate outlay not exceeding Rs 500 crore and will be put in place shortly. The arrangement is in the long term interest of the company and is being undertaken purely as a measure to provide liquidity to the relevant unit holders. The announcement was made after market hours yesterday, 17 June 2019.
Biocon said it approved sale of its branded formulations India (BFI) business on a 'going concern' basis to Biocon Biologics India for Rs 45 crore. The sale will lead to consolidation of marketing and manufacturing activities relating to BFI business under a single entity with common leadership and achieve synergies / value accretion for the group. The announcement was made after market hours yesterday, 17 June 2019.
Reliance Industries (RIL) informed that a minor fire occurred in Linear Alkyl-Benzene (LAB) plant at Patalganaga while restarting the plant from a routine maintenance shutdown. The fire was contained immediately and there were no casualties. All other plants at the site are operating normally. The announcement was made after market hours yesterday, 17 June 2019.
Tech Mahindra announced that a special committee of the board approved a proposal to acquire 100% shareholding in Objectwise Consulting Group Inc for CAD 2.75 million. The all-cash transaction is expected to close by 31 July 2019. The announcement was made after market hours yesterday, 17 June 2019.
TCS said it partnered with SAP to launch an Intelligent Field Inventory Management (iFlM) solution, powered by SAP Leonardo, which leverages Internet of Things (IoT) and blockchain to help medical device manufacturers streamline surgical kit handling. The announcement was made after market hours yesterday, 17 June 2019.
AU Small Finance Bank said that its board will meet on 20 June 2019, to consider the issue of Basel II compliant, rated unlisted, tier II unsecured subordinated redeemable non-convertible debentures, being classified as subordinated debt in one or more tranches. The announcement was made after market hours yesterday, 17 June 2019.
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