All You Need To Know Going Into Trade On March 17


  • Tata Consultancy Services: The company’s CEO CEO Rajesh Gopinathan resigned from the office, effective Sept. 15, after a six-year stint. K Krithivasan has been appointed as the CEO designate, effective March 16.

  • Zee Entertainment Enterprises: The company amicably settled disputes and claims with operational creditor Indian Performing Right Society. Subsequently, the insolvency plea filed by the latter against the former has been disposed of by the NCLT as withdrawn. The company has agreed to repay dues owned to IndusInd Bank in a bid to resolve insolvency, Bloomberg reported.

  • Infosys: The company’s subsidiary Infosys Finacle implemented the liquidity management solution for Netherlands-based financial services provider ABN AMRO.

  • Dr. Reddy’s Laboratories: The company divested its certain non-core brands in the dermatology segment to Eris Lifesciences for Rs 275 crore.

  • Samvardhana Motherson International: The board approved acquisition of the remaining 50% stake in Fritzmeier Motherson Cabin Engineering from JV partner F Holdings GmbH, Austria for Rs 110.7 crore. The company also incorporated a wholly owned subsidiary, Motherson Electronic Components, to carry on the business of manufacturing, design, development, assembly, marketing, sale of components, materials, etc.

  • Voltas: Universal MEP Projects & Engineering Services, a wholly owned subsidiary of the company, has bagged multiple power distribution and solar projects worth Rs 1,770 crore across Uttar Pradesh, Madhya Pradesh, West Bengal, Odisha, and Karnataka.

  • Glenmark Pharmaceuticals: The company received U.S. FDA acceptance for investigational new drug application to proceed with a Phase 1/2, first-in-human, clinical study for GRC 54276 for the treatment of patients with advanced solid tumours and lymphomas.

  • Rail Vikas Nigam: The company was selected as the lowest bidder for supply, installation, testing and commissioning of 11 KV line associated works in Sidhi, Singrauli, Sagar, Damoh, Chhatarpur, Panna and Tikamgarh regions of Jabalpur. The project cost without taxes is Rs 111.85 crore.

  • Lemon Tree Hotels: The company signed a license agreement for a 60-room property in Sri Ganganagar, Rajasthan, which is expected to be operational by July 2026.

  • GlaxoSmithKline Pharmaceuticals: The company estimated the impact of National List of Essential Medicines price revisions and is working on multiple mitigations. It expects the impact of the price revision on profits to be in low single digits in the next financial year.

  • Jtekt India: Satoshi Komeda resigned from the position of Director (Operations) of the company with effect from close of business on March 31.

  • Bajaj Finance: The company appointed Anup Saha and Rakesh Bhatt as executive directors and Arindam Bhattacharya as an independent director for five years with effect from April 1, 2023.

  • Glenmark Life Sciences: The board approved a dividend of Rs 21 per share for the current financial year.

  • Steel Authority of India: The board approved an interim dividend of Rs 1 for each share of face value Rs 10 for the current fiscal.

  • Hindustan Zinc: The board will meet on March 21 to consider an interim dividend for the current fiscal.