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RIL, Zee Entertainment, Dixon Technologies in spotlight

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Reliance Industries (RIL) yesterday announced that its subsidiary Reliance Retail Ventures (RRVL) has acquired a majority equity stake in Vitalic Health Pvt. Ltd. (Vitalic) and its subsidiaries (Collectively known as 'Netmeds') for a cash consideration of approximately Rs 620 crore. This investment represents ~60% holding in the equity share capital of Vitalic and 100% direct equity ownership of its subsidiaries, viz: Tresara Health Private Limited, Netmeds Market Place Limited and Dadha Pharma Distribution Pvt Limited.

Zee Entertainment Enterprises reported 94.28% fall in consolidated net profit to Rs 30.37 crore on 36.7% fall in total income to Rs 1,338.45 crore in Q1 June 2020 over Q1 June 2019.

Dixon Technologies (India) said that the meeting of the board of directors of the company is scheduled on 21 August 2020, to consider and approve the raising of funds by way of issuance of any instrument or security, including equity shares, fully / partly convertible debentures, foreign currency convertible bonds, warrants, or any combination thereof, in one or more tranches, at such price or prices as may be permissible under applicable law by way of a public issue, preferential allotment, private placement (including one or more qualified institutions placements), or through any other permissible mode and / or combination thereof as may be considered appropriate, to eligible investors.

Agro Tech Foods said that CRISIL has reaffirmed long term credit rating of to AA-, but revised outlook from negative to stable.

Dilip Buildcon (DBL) said that the company through joint venture HCC-DBL received letter of acceptance for a project worth Rs 1,334.95 crore in Uttarakhand, from Rail Vikas Nigam.

Centum Electronics announced the divestment of the energy division of its subsidiary in France Centum Adetel Group (CAG) for a total consideration of Euro 9.8 million to Chauntie Electric (Tianjin) Co., Ltd. 65% of the amount, Euro 6.37 million has been received by the French subsidiary and the remaining 35% will be received after a transition period of 2 years.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, August 19 2020. 08:33 IST