Shriram Properties, Bharti Airtel and LIC to see some action today

Shriram Properties and ASK Property Fund (ASK) have signed a Memorandum of Understanding (MoU) for setting up an investment platform for acquisition of residential real estate projects. Under the platform arrangement, Shriram and ASK will co-invest in plotted and residential developments projects in Bengaluru, Chennai, and Hyderabad. Aggregate commitments towards the platform will be up to Rs 500 crore and the committed capital is expected to be deployed over the next 12 months. ASK will invest through its managed Category II AIF.

Bharti Airtel has reported rise of 49.09% in its consolidated net profit at Rs 2,978.90 crore for the quarter under review as compared to Rs 1,998.10 crore for the same quarter in the previous year. Total consolidated income of the company increased by 22.13% to 34,728.70 crore for the quarter under review as compared to Rs 28,435.20 crore for the same quarter in the previous year.

Life Insurance Corporation of India (LIC) has raised its stake in Capri Global Capital by 2 per cent over the last few months at an investment of Rs 257.37 crore. Its shareholding in Capri Global has increased from 1,24,00,000 to 1,59,51,171 equity shares, increasing its stake from 7.052 per cent to 9.072 per cent of the paid up capital of the company.

Tilaknagar Industries would buy a 19.50% stake in Pune-based startup Incredible Spirits for Rs 1 crore. The acquisition would allow the company to participate in the rapidly growing alcohol ready-to-drink (RTD) market. The equity investment would be made using its internal resources immediately after signing the definitive agreement.

Strengthening its commitment towards environment-friendly mobility solutions, Maruti Suzuki India (MSIL) has been offering a gamut of green powertrain options for its customers to choose from. This ‘technology agnostic’ approach to achieve democratization of green mobility has received an overwhelming response from customers. The recently launched Intelligent Electric Hybrid in the Grand Vitara has witnessed strong demand, while the Smart Hybrid and S-CNG technologies in the MSIL portfolio have already proven their mettle with more than 2 million cumulative sales.

Bank of Baroda has launched two new premium Debit Cards for Bank of Baroda customers - bob World Opulence - a super-premium Visa Infinite Debit Card (Metal Edition) and bob World Sapphire - a Visa Signature Debit Card. The two debit card variants come packed with a best-in-class and powerful rewards proposition exclusively designed for the Bank's High Networth Individual (HNI) customer segment.

Asahi India Glass has reported rise of 29.34% in its consolidated net profit at Rs 104.35 crore for the quarter under review as compared to Rs 80.68 crore for the same quarter in the previous year. Total consolidated income of the company increased by 27.39% to 1019.39 crore for the quarter under review as compared to Rs 800.23 crore for the same quarter in the previous year.