Reliance Industries RIL): RIL said that its wholly owned subsidiary Reliance Petroleum Retail has executed definitive documents to acquire polyester business of Shubhalakshmi Polyesters (SPL) and Shubhlaxmi Polytex (SPTex). Reliance Petroleum Retail (under name change to 'Reliance Polyester') will be acquiring polyester business of SPL and SPTex for cash consideration of Rs 1,522 crore and Rs 70 crore, respectively, aggregating to Rs 1,592 crore by way of slump sale on a going concern basis.
Tata Steel: The board of the steel major is scheduled to meet on 14 September 2022 to consider the issuance of unsecured non-convertible debentures on private placement basis.
Oil and Natural Gas Corporation (ONGC): ONGC has signed 6 contracts for Discovered Small Fields (DSF) in the Offshore under DSF-III bid round, with 3 each for fields in the Arabian Sea and Bay of Bengal. These include 4 contract areas as sole bidder and 2 contract areas in partnership with Indian Oil Corporation Limited (IOCL). The company also signed 2 Contracts for Fields under Special CBM Bid round-2021 blocks in Jharkhand and Madhya Pradesh.
Bank of Baroda: The public sector lender on Friday announced an increase in marginal cost of funds based lending rate (MCLR) by 5-15 basis points, effective from Monday, 12 September 2022.
Container Corporation of India: Container Corporation of India said that ICRA has re-affirmed the credit rating on the debt instruments of the company. The ratings, however, continue to be on watch with developing implications, the agency stated.
Indian Overseas Bank: The PSU bank on Friday announced an increase in marginal cost of funds based lending rate (MCLR) by 10 basis points, effective from Saturday, 10 September 2022.
Spicejet: Spicejet on Friday announced the appointment of Ashish Kumar as the chief financial officer (CFO) with effect from 9 September 2022.
Trident: Trident announced its production update for August 2022 on Saturday, 10 September 2022. In the home textile division, production of bath linen tumbled 37.17% to 3,091 metric tonnes (MT) in August 2022 as against 4,920 MT posted in August 2021. Production of bed linen slipped 37.74% to 1.93 million metres (MM) in August 2022 from 3.1 MM recorded in August 2021. Production of yarn slumped 41.72% to 6,471 MT in August 2022 as compared to 11,103 MT reported in the same period a year ago.
Venus Pipes & Tubes: Venus Pipes & Tubes said that it has been recognised as ALL INDIA FIRST (AIF) manufacturer to receive Bureau of Indian Standards (BIS) approval for stainless steel seamless and welded pipes and tubes.
Spandana Sphoorty Financial: Spandana Sphoorty Financial said that its board has approved the allotment of 600 non-convertible debentures on a private placement basis for an aggregate consideration of Rs 60 crore.
H.G. Infra: The EPC company on Friday announced that its wholly owned subsidiary, H.G. Ateli Narnaul Highway has received the completion certificate for a construction project in Haryana.
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