Business strategy

Tata Motors, Nykaa, Equitas SFB, Suven Life, and Others

Nifty futures on the Singapore Exchange traded 65 points, or 0.35 per cent higher at 18,440, signaling that Dalal Street was headed for a positive start on Friday.

Tata Motors: The automaker bagged order for 1,000 buses from Haryana Roadways. As per the contract, the auto major said that it will supply 52-seater fully built BS VI diesel buses in a phased manner. The management said that the partnership with Haryana government would help in offering modern public transport to the citizens of the state.

Nykaa: Citigroup plans to sell shares worth Rs 1,000 crore of Nykaa through a block deal on Friday, November 18. American private equity firm, TPG Capital is the seller in the block deal, which would provide 0.5 per cent discount from the ongoing rate. This comes days after the lock-in expiry for pre-IPO investors came to an end.

Aditya Birla Fashion and Retail: The company inked pact with Galeries Lafayette to open luxury department stores and a dedicated e-Commerce platform in India. The flagship stores in Mumbai and Delhi will bring more than 200 luxury and designer brands under one roof, said the management.

Equitas Small Finance Bank: DSP Investment Managers Private Ltd will buy nearly 10 per cent stake in Equitas Small Finance Bank, following approval from the Reserve Bank of India. The merger is aimed to meet the RBI’s licensing conditions to bring down the shareholding of the holding company to 40 per cent within a period of five years.

Suven Life Sciences: The Hyderabad-based company has started recruitment of patients for the Phase-3 trial of Alzheimer’s drug Masupirdine to treat agitation in patients with dementia of the Alzheimer’s type. The study will enroll approximately 375 patients who will be randomised in a 1:1:1 ratio to receive Masupirdine. Top-line data from the trial is expected to be available by early 2025.

Future Enterprises: The debt-ridden company defaulted on payment of interest on non-convertible debentures of Rs 1.07 crore. The debentures have a coupon rate of 9.28 per cent and Future Enterprises has defaulted on interest payments for the period from May 17, 2022, to November 15, 2022.

PTC India Financial Services: The company reported multi-fold jump in net profit to Rs 129.98 crore in the March quarter (Q4FY22) from Rs 25.6 crore, in the year-ago period. Total income, however, declined 15 per cent year-on-year (YoY) to Rs 968.74 crore in FY22 from Rs 1,139.45 crore in FY21.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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