International Paper APPM: Promoter group International Paper entered into an agreement with West Coast Paper Mills to sell its controlling stake in the company. As per the tender offer, West Coast Paper Mills will acquire 51% to 60% stake in the company.
Jaypee Infratech clarified on the news of Adani Group offering Rs500cr to the lenders stating that no such negotiations took place.
Nava Bharat Ventures board approved buyback of 15.6 lakh shares to Rs160 per share aggregating to Rs25cr.
Tata Power’s two arms entered into an agreement to sell their entire stake in Nelito Systems worth Rs15.6cr to Japan-based DTS Corporation.
IOL Chemicals and Pharma board approved increasing capacity for Ibuprofen from 10,000 MT to 12,000 MT and for Iso Butyl Benzene from 9,000 MT to 12,000 MT, per annum respectively for a capex of Rs1cr.
HDFC board approved subsidy worth Rs22,136cr to over 1.04 lakh homebuyers under Pradhan Mantri Awas Yojna-CLSS scheme.
Goa Carbon said operations in its Goa unit have resumed with effect from May 25.
Patanjali Ayurveda has approached state-run banks to help fund its Rs4,350cr acquisition of Ruchi Soya Industries, as per ET report.
Punjab National Bank intends to recover Rs20,000cr of bad loans in the current financial year through one-time settlements and resolutions under the Insolvency and Bankruptcy Code (IBC), as per ET report.
Results today: Coal India, ONGC, Ujjivan Financial Services, IDBI Bank, Berger Paints, National Aluminium Company, Entertainment Network, Ahluwalia Contracts, Prabhat Dairy, Pricol, Infibeam Avenues, Jindal Poly Films, Sadbhav Engineering, Suzlon Energy, Greenply Industries, Alkem Laboratories, Apollo Hospitals Enterprise, MMTC.