Nestle India, Infosys, APSEZ, ICICI Bank in spotlight

Nestle India reported 2.26% rise in standalone net profit to Rs 483.31 crore on 9.16% rise in net sales to Rs 3,417.52 crore in Q4 December 2020 over Q4 December 2019. Nestle India said the board of directors recommended final dividend for the year 2020 of Rs 65.

Infosys McCamish Systems, a US-based subsidiary of Infosys BPM, the Business Process Management arm of Infosys, announced the strategic purchase of a state-of-the-art New Business and Underwriting platform from STEP Solutions Group LLC to ease the complexity of all types of insurance products such as Life, Annuity, and Health, for individuals and groups across North America.

Adani Ports and Special Economic Zone (APSEZ) completed the acquisition of 100% stake of Dighi Port (DPL) for Rs 705 crore on 15 February 2021. APSEZ plans to invest over INR 10,000 Cr to develop the port into a multi-cargo port with world class infrastructure as well as investing in the development of rail & road evacuation infrastructure for seamless and efficient cargo movement.

ICICI Bank has entered into an agreement in relation to an Investment in the equity shares and compulsorily convertible preference shares ('CCPS') of Thillais Analytical Solutions.

IndusInd International Holdings (IIHL), the promoter company of IndusInd Bank, confirms that it has completed its capital raise through its Rights Issue which was oversubscribed. IIHL raised capital at an overwhelming premium of 1400% towards the subscription of this Rights issue. This reiterates the confidence of IIHL's global shareholders, spread across 34 countries, in the decision of IIFL and its subsidiary, IndusInd Limited, to redeem the balance of 75% of the warrants at the price of Rs. 1709/- per share, aggregating to Rs. 2021.45 crores.

TVS Srichakra signed a Memorandum of Understanding (MOU) with the Government of Tamil Nadu to facilitate the investment program of Rs 1,000 crore.

Heritage Novandie Foods, a joint venture between Heritage Foods and Novandie Foods, a subsidiary of Andros, France, started in 2017, announced their entry in the Indian market with its first line of products.

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