Larsen & Toubro: Larsen & Toubro’s electrical and automation business is recovering from the impact of demonetisation but the lack of orders from industrial clients continues to weigh on it, SC Bhargava, senior vice president and head of the business, told ET.
Purvankara: The company on Tuesday announced that the board of directors at meeting held on Tuesday have passed an enabling resolution for exit from the investment of Rs 403 crore at Raidurg, Panamaktha Village which would involve the sale of its entire shares in three wholly owned subsidiaries of Puravankara. The transaction has been authorised on a condition that total inflow should not be less than a sum of Rs 475 crore.
United Bank ofBSE -1.81 % India: State-owned United Bank of IndiaBSE -1.81 % has set Rs 24.44 as the floor price for its Rs 1,500 crore QIP programme.
Adani Enterprises: Adani EnterprisesBSE -1.59 % on Tuesday said it has acquired Adani Infrastructure Pvt Ltd (AIPL), which is yet to commence business operations.
State Bank of India (SBI): Private equity firm Carlyle has emerged as the frontrunner to partner SBI in its credit cards business and replace long-term partner GE CapitalBSE 0.18 %, said multiple sources aware of the matter.
IDBI BankBSE -0.97 %, Bank of MaharashtraBSE 1.36 %, Dena Bank: State-owned IDBI Bank, Bank of Maharashtra and Dena BankBSE -0.26 % will receive a capital infusion from the government in lieu of preferential allotment of shares.
NALCO: Navaratna PSU National Aluminium CompanyBSE -1.83 % Limited (NALCO) declared an interim dividend of 56 per cent amounting to Rs 541.22 crore for 2016-17, the highest ever by the company since inception.
NilaBSE 4.62 % Infrastructures: The company on Tuesday said it has signed two pacts with Gujarat State Road Transport CorporationBSE -2.32 % (GSRTC) for development of bus terminals at Amreli and Modasa in the state.
Wockhardt: Drug firm WockhardtBSE 1.15 % has received approval from the US health regulator to market generic version of Wyeth’s Zosyn, used for treating bacterial infections, in the American market.
ABC Bearings: The company on Tuesday informed bourses that it has sold its entire 2.5 per cent equity stake in NSK-ABC Bearnngs Private Ltd to NSK India Sales Company.