Hero MotoCorp has commenced commercial production at its new greenfield manufacturing facility, situated at Chittoor in the southern Indian state of Andhra Pradesh. This facility is the company's eighth manufacturing plant and sixth in India.
State Bank of India informed that a meeting of the central board of the bank will be held on 27 March 2020 to consider the extension of approval accorded by central board for raising equity capital from market up to Rs 20,000 crore from the market till 31 March, 2021 subject to the approval of shareholders, RBI and Gol.
The board of the bank also approved divestment of entire equity stake (19.99%) held in A Little World.
Sobha informed that the board of directors approved the issue of secured redeemable non convertible debentures up to an amount of Rs 270 crore by way of private placement.
ICICI Lombard General Insurance Company said it has rolled out a focused 'COVID-19 Protection Cover'. The policy has been launched in group insurance mode. Amid the contagious pandemic, this policy on diagnosis of COVID-19 (+ve) will pay 100% of the sum insured irrespective of hospitalization expenses.
CreditAccess Grameen informed that its has completed the acquisition of 75.64% of equity share capital of Madura Micro Finance on 18 March 2020.
RITES said its board has decided to close its joint venture (JV) with BNV Gujarat Rail. The closure of the JV is subject to further approvals, if any.
Sun Pharmaceutical Industries informed that the company has approved the buy-back of its equity shares of face value of Re 1 each from the open market at a maximum price of Rs 425 per equity share for an aggregate maximum amount of up to Rs 1,700 crore.
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