ITC to acquire 16% stake in D2C brand Mother Sparsh

ITC Limited has announced plans to acquire a 16% stake in Mother Sparsh for Rs 20 crore through a share subscription agreement. Mother Sparsh is a direct-to-consumer (D2C) Ayurvedic and natural personal care brand that focuses on mother and baby care segments. ITC said the acquisition will enable access to the fast-growing D2C space in the ‘personal care’ category, which has been identified by the company as an area of interest. 

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Tata Group in talks to set up $300 million semiconductor assembly unit: Report

According to reports, Tata Group is in talks with three states to invest up to $300 million (~Rs 2,245 crore) to set up a semiconductor assembly and test unit. The group is holding talks with the governments of Tamil Nadu, Karnataka, and Telangana and scouting for land for the outsourced semiconductor assembly and test (OSAT) plant. An OSAT plant assembles and tests foundry-made silicon wafers, turning them into finished semiconductor chips. 

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IRCON emerges lowest bidder in 2 projects worth Rs 1,500 crore

Ircon International Ltd has emerged as the lowest bidder for the construction of an eight-lane access-controlled expressway in the Shirsad-Akloli section of Vadodara-Mumbai Expressway in Maharashtra. The project, floated by the National Highways Authority of India (NHAI), is valued at ~Rs 1,124 crore. IRCON has also emerged as the lowest bidder for the supply, installation, testing, and commissioning of Track Works of Standard Gauge for Chennai Metro Rail Ltd. The value of the project is Rs 337.61 crore.

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Sanofi India to divest Soframycin, Sofradex brands for Rs 125 crore

Pharma major Sonafi India will divest its Soframycin and Sofradex brands to Encube Ehticals for a total consideration of Rs 125 crores. Upon completion of the transaction, Encube would acquire the right to sell and distribute the two skin ailment creams in India and Sri Lanka. The company’s board has also approved the transfer of the unregistered Intellectual Property (IP) and product inventory to Encube.

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Aurionpro Solutions to acquire majority stake in Toshi Automatic Systems

Aurionpro Solutions Ltd has announced plans to acquire a majority stake (51%) in Toshi Automatic Systems Pvt Ltd (TASPL). The acquisition will allow Aurionpro to further consolidate its position as the only integrated player in the Automatic Fare Collection (AFC) & transit solutions space in India. Uttar Pradesh-based TASPL is an innovator with products and solutions in industrial, public safety, mass transit segments.

Apollo Hospitals, Amazon in talks for pharmacy business partnership: Report

Online retail giant Amazon is reportedly in talks with Apollo Hospitals for a partnership in its pharmacy business, Apollo HealthCo. Apollo Hospitals is looking to sell up to a 20% stake in its pharmacy subsidiary and wants to raise around $500 million (~Rs 3,744 crore). The subsidiary is making strategic moves to expand its online sales and working towards being a dominant omnichannel player.

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CDSL becomes first depository to open 5 crore active Demat accounts

Central Depository Services (India) Limited (CDSL) has become the first depository to hold more than five crore active Demat accounts. CDSL is India’s leading and only listed depository. It provides convenient, dependable, and secure depository services at an affordable cost to all market participants. To learn more about CDSL, click here.

Vedanta promoters pledge shares to raise Rs 6,000 crore

Holding companies of Vedanta Ltd have raised $800 million (~Rs 6,000 crore) by pledging shares in the company. Promoter group firms pledged 242.26 crore shares or a 65.18% stake in Vedanta in three facility agreements to raise funds. The firm is evaluating all options including demergers, spin-offs, and strategic partnerships as part of a complete overhaul of its corporate structure. It is also looking at listing its aluminium, iron & steel, and oil & gas verticals as separate entities.

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NTPC Renewable Energy signs PPA for 325 MW solar projects

NTPC Renewable Energy has signed a Power Purchase Agreement (PPA) and other project agreements with Indian Railways, Madhya Pradesh Power Management Company, and Reva Ultra Mega Solar Ltd (RUMSL) for 325 megawatts (MW) solar projects. The projects will be installed in RUMSL at Shajapur Solar Park in Madhya Pradesh

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