Dewan Housing Finance Corporation (DHFL) will be watched. Brickwork Ratings India has downgraded the credit ratings on DHFL's facilities/instruments, including secured non-convertible debentures and fixed deposits, aggregating Rs 56,550 crore. The downgrade is on account of limited progress in building up liquidity, selling/ exiting riskier construction finance loans, according to DHFL's stock exchange notice issued after market hours yesterday, 11 April 2019.
Lumax Auto Technologies announced its joint venture with JOPP, Germany to manufacture and supply transmission products to the Indian automotive industry. Under the joint venture, both the partners will hold an equal 50% share in the new entity to be named Lumax JOPP Allied Technologies. While JOPP will bring the world class technology for its products to joint venture, Lumax will provide its 7 decades' rich experience towards management of the JV in India. Focus of JV is towards self-reliance in technology & establish a state of art R&D centre in India along with manufacturing operations. The announcement was made after market hours yesterday, 11 April 2019.
Sterlite Technologies announced that its board will meet on 23 April 2019, to consider offering subscription of non-convertible debentures on private placement basis. The board will also consider approval of raising of funds by issue of equity shares or any other securities convertible into equity shares or a combination of such securities by way of further public offer, rights issue, American depository receipts/global depository receipts/foreign currency convertible bonds, qualified institutions placement, preferential issue or any other method as may be permitted under applicable laws. The announcement was made after market hours yesterday, 11 April 2019.
Narayana Hrudayalaya said it incorporated a wholly-owned subsidiary company (limited liability company) 'Narayana Health North America LLC' in Delaware, United States on 9 April 2019. The announcement was made after market hours yesterday, 11 April 2019.
AGC Networks announced that it has entered into an agreement to acquire 100% stake in COPC Holdings Inc. from Global Quality Assurance for $5.5 million. The said acquisition is anticipated to be completed by 30 April 2019. The announcement was made after market hours yesterday, 11 April 2019.
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