Reliance Industries
The National Company Law Tribunal in Mumbai has approved the arrangement between Reliance Industries and Reliance Strategic Investments. Reliance Industries and Reliance Strategic Investments will now proceed with the necessary actions, such as determining the record date for the allotment and listing of equity shares of Reliance Strategic Investments.
Ideaforge Technology
The prominent drone manufacturing company is set to make its debut on the stock exchange on July 7. The issue price has been finalized at Rs 672 per share.
Titan Company
The renowned jewellery-to-watch maker has achieved a 20% year-on-year revenue growth in the June quarter of FY24. All key consumer businesses experienced double-digit growth during this period. Titan added a total of 68 stores (including CaratLane) in the quarter, bringing its retail presence to 2,778 stores. The jewelry division saw a 21% YoY growth with the addition of 18 new stores. The watches and wearables segment recorded a 13% growth, while the eyecare division witnessed a 10% YoY increase in sales. Fragrances and fashion accessories saw an 11% YoY growth, driven by a 9% increase in fragrances and a 13% rise in fashion accessories. CaratLane reported a robust 32% YoY growth, with significant contributions from multiple avenues.
Dabur India
The FMCG major, including the recently acquired Badshah Masala, is expected to achieve a growth rate exceeding 10% in the quarter compared to the previous year. The easing of inflation in international markets is expected to have a positive effect on the business and result in double-digit growth in constant currency for the international division. The India business is projected to post high single-digit growth.
Indian Oil Corporation and Praj Industries
Both companies have signed a term sheet to advance their plans of strengthening biofuels production capacities in India. The memorandum of understanding (MoU) covers various biofuels, including sustainable aviation fuel (SAF), ethanol, compressed bio-gas, biodiesel, and bio-bitumen, among others. In October 2021, the companies entered into an agreement to establish a 50:50 joint venture.
