Lemon Tree Hotels, Sun Pharmaceutical Industries and MPS to see some action today

Lemon Tree Hotels has signed a License Agreement for a 40 room hotel at Chirang, Assam under the Company's brand 'Keys Select, by Lemon Tree Hotels'. The hotel is expected to be operational by June, 2026. Carnation Hotels, a subsidiary and the hotel management arm of the Company will be operating this hotel.

Sun Pharmaceutical Industries is expecting high single-digit top-line growth in the current financial year with all its business verticals well placed to lead the charge. The company, which posted revenues of Rs 38,426 crore in FY22, aims to invest 7-8 per cent of sales in the R&D front in the ongoing fiscal.

To serve the needs of premium households who want the next generational connectivity and entertainment experience, Bharti Airtel (Airtel) has once again raised the bar in the home broadband segment with the launch of three new all-in-one plans built for the evolving entertainment needs of today’s connected homes.

MPS has completed the acquisition of 100% of the issued and paid up equity share capital of E.I. Designs through MPS Interactive Systems (MPSI), a wholly owned subsidiary of the Company by executing a share purchase agreement (Share Purchase Agreement). The shares held by the shareholders of E.I. Design have been purchased by MPSI by executing a share purchase agreement at a consideration of Rs 40 crore on a cash-free, debt-free basis.

Lux Industries has received an approval for capital expenditure of Rs 50 crore for capital expansion plans at Ludhiana and for other Capital expenditure of the Company. The company has participated in e-auction organized by Punjab Small Industries & Export Corporation and has been allotted plot No. A-10, Phase V, Focal point, Ludhiana measuring about 34,067 sq. yards.

Jubilant FoodWorks’ wholly owned subsidiary-- Jubilant Foodworks Netherlands B.V. (JFN) has increased its stake in DP Eurasia N.V. (DPEU) through various on-market purchases. As on May 29, 2022, JFN is holding 62,067,676 ordinary shares in DPEU representing 42.70% of its issued share capital.

Axis Bank has started to reap the benefits of its strategy to grow organically alongside strong partnerships to fuel growth in the credit cards business, raking in the highest ever acquisition in the March quarter. Buoyed by the growth, the bank is eyeing capturing one-fifth of the credit card market in the medium term. The fourth-largest private sector bank clocked the highest ever quarterly growth with over 1.1 million credit card acquisitions in the March quarter of 2021-22.