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LTI, Mindtree, Godrej Properties, NMDC in focus

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(08:57, 15 Nov 2022)

Larsen & Toubro Infotech (LTI), Mindtree: LTI and Mindtree announced that both Mumbai and Bengaluru Benches of National Company Law Tribunal (NCLT) have approved, via two separate orders, the scheme of amalgamation and arrangement between the two companies and their respective shareholders and creditors. The two companies had announced their intent to merge in May 2022. As part of the merger, all shareholders of Mindtree will be issued shares of LTI in the ratio of 73 shares of LTI for every 100 shares of Mindtree. The Record Date to determine the eligible shareholders of Mindtree for issue of equity shares of LTI pursuant to the scheme is fixed as 24 November 2022.

Godrej Properties: Godrej Properties announced that it has achieved sales worth Rs 500 crore through the launch of its new project, Godrej Woodsville in Hinjewadi, Pune. The company, till date has sold 675+ homes accounting for an area of over 6.90 lakh square feet for the project launched in September 2022.

NMDC: The company reported 62% fall in consolidated net profit to Rs 889 crore in Q2 FY23 as against a net profit of Rs 2342 crore in Q2 FY22. Total income fell 45% to Rs 3754 crore in Q2 FY23 from Rs 6882 crore posted in Q2 FY22.

CESC: The company reported consolidated net profit of Rs 319 crore in Q2 FY23 as against a net profit of Rs 340 crore in Q2 FY22. Total income rose to Rs 3977 crore in Q2 FY23 from Rs 3534 crore posted in Q2 FY22.

Greaves Cotton: The company reported consolidated net profit of Rs 32 crore in Q2 FY23 as against a net loss of Rs 23 crore in Q2 FY22. Total income rose 87% to Rs 699 crore in Q2 FY23 from Rs 374 crore posted in Q2 FY22.

Fusion Micro Finance: Shares of the company will be listed on stock exchanges today. The company launched an initial public offering (IPO) worth over Rs 1,100 crore in the first week of November in price band of Rs 350 to Rs 368 per equity share.

Thomas Cook (India): Thomas Cook (India), India's leading omnichannel forex services company, has signed a long-term agreement with KrisFlyer - Singapore Airlines (SIA) Group's loyalty membership program. The partnership offers Thomas Cook India a viable database of active travellers.