Tata Steel: Global credit rating agency Moody’s has upgraded the corporate family rating of Tata Steel from Ba1 to Baa3, and changed the outlook from Positive to Stable. The rating agency expects the company's profitability to increase even as softer steel prices dent revenues, and the company to maintain conservative financial policies with a well-balanced capital allocation and financial metrics appropriate for its Baa3 rating.
Wipro: The IT services company announced the sale of land measuring 14 acres and 02 cents, in Chennai, together with a 20-year-old building for Rs 266.38 crore. The company executed the sale deed on September 25 and Casagrand Bizpark was the buyer.
Fortis Healthcare: The company has received approval from the board of directors to enter into a Share Purchase Agreement for acquiring a 99.9% stake in Artistry Properties. The enterprise value of the stake buy is Rs 32 crore. Artistry owns a land and building adjacent to Fortis Hospital at Anandpur in Kolkata. The building is entirely constructed with all statutory compliances in place and with minimal customization and re-layout, it can be utilized for accommodating OPD, diagnostics, and daycare services, relocated/shifted from the main building of Fortis Anandpur Hospital.
HDFC Asset Management Company: HDFC AMC has invested Rs 25 crore in its subsidiary HDFC AMC International (IFSC) and continues to hold a 100% stake in the subsidiary.
Bannari Amman Spinning Mills: Shareholders have given approval for the reappointment of S V Arumugam as Managing Director of Bannari Amman Spinning Mills, for three years with effect from June 27, 2023, to June 26, 2026. They also approved an appointment of C Sivasamy as an Independent Director of the Company for 5 consecutive years, from June 28, 2023 to June 27, 2028.
