Muthoot Finance, HDFC Life Insurance and GR Infraprojects to see some action today

Muthoot Finance’s board has approved additional equity infusion of Rs 300 crore in Belstar Microfinance, a subsidiary of the Company and secondary purchase of equity shares of Belstar from the existing promoters for a consideration of upto Rs 75 crore. Additional equity infusion is proposed to be made in order to strengthen the capital base and improve the capital adequacy ratio. Secondary acquisition from the promoters aids Muthoot Finance to increase its equity stake in Belstar 

HDFC Life Insurance Company and Lokmanya Multipurpose Cooperative Society have entered into a corporate agency tie-up that would enable the latter to distribute life insurance products of HDFC Life to its customers. HDFC Life offers a wide range of life insurance products, designed to meet various life stage needs of individuals. Through this new partnership, the company could contribute further towards increasing life insurance penetration.  

GR Infraprojects has entered into Share Purchase agreement with REC Power Development and Consultancy (RECPDCL) for acquisition of Pochora Power Transmission, wholly owned subsidiary of RECPDCL. After this acquisition, Pachora Power Transmission has become wholly owned subsidiary company of G R Infraprojects. The equity shares of Pachora Power Transmission have been acquired at total consideration of Rs 6.55 crore. 

Tata Consultancy Services (TCS) and Conga, a global leader in Revenue Lifecycle Management solutions, have forged a strategic partnership to offer more customized and state-of-the-art solutions to enterprises. TCS is the inaugural partner of Conga’s Elevated Partnership Program and will strategize with Conga on next-gen solutions and transformation opportunities for clients’ end-to-end revenue lifecycle management systems.

Balaxi Pharmaceuticals’ wholly owned subsidiary -- Balaxi Global DMCC has incorporated a new Wholly Owned Subsidiary in Chile by the name Balaxi Pharmaceuticals Chile SPA. Consequent to the incorporation, Balaxi Pharmaceuticals Chile SPA has become a Wholly Owned Step-Down Subsidiary of the Company. The object of Balaxi Pharmaceuticals Chile SPA is distribution and marketing of all types of medicines and pharmaceutical products which is in line with the company’s main objects. The acquisition is a part of Company’s expansion plans.

Kanoria Chemicals & Industries (KCI) is planning to add additional production capacity of Hexamine with 18 MTPD in Ankleshwar, Gujarat. This new capacity at Ankleshwar will cater to growing demand in various sectors such as Phenolic Resins, Textile, Agrochemicals, Explosives, Pharmaceuticals, etc. in the region as well as the exports markets. This additional capacity will help the company for sustainable development and inclusive growth in line with the company's vision. Expansion is expected to be completed by December 2024.

Reliance Industries (RIL) is reportedly in talks the Walt Disney Company, to buy 29.8 per cent stake in Tata Play. This move is seen as part of RIL’s broader strategy to deepen its footprint in India’s television distribution sector.