M&M, Biocon, PVR in focus

Mahindra & Mahindra (M&M) announced that effective 1 January 2021, the company will increase the price of its range of passenger and commercial vehicles, across models. This has been necessitated due to the increase in commodity prices and various other input costs.

Biocon said its subsidiary Biocon Biologics has signed a Memorandum of Understanding (MoU) with the Christian Social Services Commission (CSSC), a faith-based organization active in Africa. CSSC works closely with the government as well as international and national partners to facilitate health and education services. Tanzania will be the first country in Africa that will benefit from this collaboration between Biocon Biologics and CSSC.

PVR said that the meeting of the board of directors of the company is scheduled on 18 December 2020, to consider and approve raising of funds, in one or more tranches. The funds may be raised through issue of equity shares or securities convertible into equity shares, and/or issuance of depository receipts including American depository receipts and global depository receipts or bonds including foreign currency convertible bonds or non-convertible debt instruments along with warrants, or any combination thereof, either by way of private placement.

HG Infra Engineering said the company has been declared as L-1 bidder by Ircon International for contract with bid price of Rs. 784.99 crore.

Indian Bank informed that it has fully provided Non Performing Account namely, IL&FS Financial Services with outstanding dues of Rs 408 crore has been declared as fraud and reported to RBI as per regulatory requirement.

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