The scheme of arrangement between Tata Coffee Ltd (TCL), Tata Consumer Products Ltd (TCPL) and its wholly owned subsidiary TCPL Beverages and Foods Ltd (TBFL) will be effective from January 1, 2024.

The scheme involves the demerger of Tata Coffee's plantation business into TCPL Beverages and Foods and the merger of the remaining business with Tata Consumer Products.

Innova Captab made a quiet debut on Friday with its shares listing just 2 per cent higher at Rs 456 against the issue price of Rs 448 on the BSE. The stock of the pharmaceutical company listed 1 per cent higher at Rs 452 on the National Stock Exchange (NSE).

However, soon after the listing, Innova Captab gained steam and moved to Rs 502, up 12 per cent over its issue price on the BSE. It hit a low of Rs 452 in intra-day trade. A combined around 7.3 million equity shares had changed hands on the NSE and BSE.

State Bank of India (SBI), HDFC Bank, and ICICI Bank continue to be in the list of the domestic systemically important banks (D-SIBs) of the Reserve Bank of India, though the first two will require maintaining higher capital as they move up one notch in the ladder.

“While ICICI Bank continues to be in the same bucketing structure as last year, SBI and HDFC Bank move to higher buckets – SBI shifts from bucket 3 to bucket 4, and HDFC Bank shifts from bucket 1 to bucket 2,” RBI said in a statement.

Actor-politician and founder of the Desiya Murpokku Dravida Kazhagam (DMDK), Vijayakanth (also known as Narayanan Vijayaraj Alagarswami), passed away at MIOT Hospital in Chennai on Thursday.

The hospital said in a statement that the 71-year-old actor was on ventilator support following his admission for pneumonia. "Captain Vijayakanth was on ventilatory support following his admission for pneumonia. Despite the best efforts of the medical staff he passed away in the morning on 28th December 2023," the hospital said.

Shares of Housing & Urban Development Corporation (HUDCO) rallied 13 per cent on the BSE to fresh highs of Rs 129.29 in Thursday’s intra-day trade after the company signed a financing pact with Gujarat govt for investment of Rs 14,500 crore.

In the past two days, the stock of the state-owned financial institution has surged 23 per cent. It has surpassed its previous high of Rs 119.55 touched on December 14.

Shares of KPI Green Energy zoomed 9.5 per cent to hit a new high at Rs 1,402 after the company announced its plans to consider issue of bonus shares.

The company in an exchange filing post market hours on Wednesday, said that its board will meet on December 30 to consider a proposal for issue of bonus equity shares.

The Reserve Bank of India (RBI) has approved the appointment of C S Rajan, an independent director of Kotak Mahindra Bank, as its part-time chairman for a period of two years, with effect from January 1, 2024, the lender told the exchanges.

Rajan’s appointment follows the retirement of the incumbent non-executive independent part-time chairman, Prakash Apte, whose term expires onDecember 31, 2023.

Food delivery platform Zomato has received a Rs 401.7 crore show cause notice from the Directorate General of GST Intelligence, Pune Zonal Unit, the company said in a regulatory filing late on Wednesday. The notice is based on the non-payment of goods and services tax (GST) on money collected by the company as delivery charges from the customers.

In the regulatory filing, the company said, "The show cause notice requires the company to show cause as to why an alleged tax liability of Rs 401,70,14,706 along with interest and penalty for the period from October 29, 2019, to March 31, 2022, should not be demanded from the company.

Reliance Jio Infocomm chairman Akash Ambani on Wednesday said the country's largest telco is working with Indian Institute of Technology-Bombay to launch a 'Bharat GPT' programme.

The company, a unit of Reliance Industries, is also "comprehensively thinking" to launch an operating system for televisions, he said, adding that it has been working on it for a while now.

Adani Green Energy Ltd, on Wednesday, announced that it has completed a joint venture agreement with TotalEnergies Renewables Singapore Pte Limited where the latter has acquired a 50 per cent stake in Adani Renewable Energy Nine Limited for $300 million. ARE9L houses a 1,050 MW project portfolio.

The total comprises a mix of already operational (300 MW), under construction (500 MW) and under development assets (250 MW) with a blend of both solar and wind power projects in India.

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