TCS announces buyback of up to 4.09 crore equity shares worth ₹17,000 crore ₹4150
Further to our intimation dated Friday, October 6, 2023 and in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at its meeting held today has approved a proposal to buyback up to 4,09,63,855 (Four crore nine lakh sixty three thousand eight hundred and fifty five) Equity Shares of the Company for an aggregate amount not exceeding ₹17,000 crore (Rupees seventeen thousand crore only) (hereinafter referred to as the “Buyback Size”), representing (1.12)% of the total paid-up equity share capital, at ₹4,150 (Rupees four thousand one hundred and fifty only) per Equity Share (hereinafter referred to as the “Buyback Price”).
L&T Hydrocarbon Business Wins Contract in Middle East for Gas Compression Plants
Larsen & Toubro’s Hydrocarbon Business, known as L&T Energy Hydrocarbon (LTEH), has recently been awarded a Letter of Intent from a prestigious client in the Middle East for a Mega onshore project.
The project involves the engineering, procurement, and construction of Gas Compression Plants, which includes Gas Inlet Facilities, Gas Compression System, Produced Water Handling, Propane Refrigeration System, Condensate Transfer, and Utilities.
The new onshore facilities will be integrated with existing Gas Compression Plants. Additionally, L&T Construction’s Power Transmission & Distribution arm will set up three 230 kV Extra High voltage substations to meet the power supply requirements of the Gas Compression Plants.
Bikaji Foods International Limited expands its global presence with new subsidiary in the USA
Bikaji Foods International Limited has established a new subsidiary, Bikaji Foods International USA Corp, in the State of New Jersey, USA on July 10, 2023. The subsidiary is wholly-owned by BFIL and has an authorized capital of $500,000, which is divided into 50,000 common stocks of $10 each. The paid-up capital for Bikaji Foods International USA Corp is also $500,000, which is divided into 50,000 common stocks of $10 each.
- The Bikaji USA is a related party of the BFIL and this transaction falls under the purview of section 177 of the Companies Act, 2013 and Regulation 23 of Listing Regulations.
- Mr. Deepak Agarwal and Mrs. Shweta Agarwal, Promoter and member of Promoter Group in BFIL, respectively, are also Director in Bikaji USA.
- It is on the Arm’s Length Basis.
Ashok Leyland introduces powerful Ecomet Star 1915 with impressive 18.49T GVW
Ashok Leyland, a major commercial vehicle manufacturer in India and a flagship company of the Hinduja Group, has announced the launch of their latest product, the ecomet Star 1915 truck. This truck belongs to the Intermediate Commercial Vehicle (ICV) segment and boasts a Gross Vehicle Weight (GVW) of 18.49T, making it one of the most efficient in its category. Customers can choose from four different loading span configurations to meet their specific needs. The newly launched truck is specifically designed to cater to long-distance haulage customers who require higher payload capacity and faster turnaround time. With 4-cylinder engines, this truck is sure to meet the expectations of its intended customers.