NIIT Technologies to be in focus on buy-back approval

NIIT Technologies said the board of directors has approved buy-back of up to 19,56,290 fully paid equity shares at a price of up to Rs 1,725 per share aggregating up to Rs 337 crore. The number of securities proposed to be bought back represents 3.1 % of the existing paid up equity share capital of the Company.

Tata Motors said it has received NCLT order sanctioning the Scheme of Arrangement between the Company and Tata Advanced Systems for transfer of the Defense Undertaking.

Chalet Hotels said it has signed a franchise agreement with Hyatt India Consultancy (Hyatt) and its affiliates for Hyatt Regency Navi Mumbai Airoli. The Company's upcoming around 260 keys hotel at Airoli, Navi Mumbai will be the first Hyatt Regency branded hotel for Chalet.

Hindalco Industries said its Muri refinery in Jharkhand restarted production of Alumina after receiving consent to operate from Jharkhand State Pollution Control. On 10 April, 2019 the company had informed that operations of Alumina plant were suspended due to the spillage in the red mud cake storage area. Going forward, the company may not need to import Alumina.

GE T&T India said it has executed an agreement to sell its undertaking at Naini, Allahabad to M/s Shirdi Sai Electricals. This will result in optimising the utilisation level of the transformer manufacturing factories in the company and consolidation of company's transformer manufacturing related operations in India.

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