HYDERABAD: Cyient announced a corporate venture investment in Cylus, a global leader in cybersecurity solutions for the rail industry. This investment is in line with the company’s focus on developing smarter and safer mobility solutions for the rail industry. It brings together Cyient’s leadership position in engineering solutions for rail and focus on digitalization, with Cylus’ cybersecurity solutions developed specifically for the rail industry.
Sagar Cements said its consolidated production rose 12.91% to 277,146 metric tonne in May 2019 as against May 2018. Consolidated sales rose 13.29% to 2,75,330 MTs in May 2019 as against May 2018.
IndusInd Bank will be watched. The credit rating of the debt instruments issued by IndusInd Bank has been reaffirmed by IndiaRatings. The rating of infra bonds and the long term issuer rating have been reaffirmed at AA+, with stable outlook. The rating of additional tier I bonds was reaffirmed at AA with stable outlook and short term issuer rating has been reaffirmed at A1+.
JSW Steel said it has agreed to acquire 10,000 shares, comprising the entire issued and paid-up share capital, of Piombino Steel from JSW Techno Projects Management. Further Piombino Steel, shall, by itself and/or through nominees, acquire 8,000 shares, comprising the entire issued and paid-up share capital of Makler from JSW Techno Projects Management. Pursuant to the above, Piombino Steel shall become a wholly owned subsidiary of the Company and Makler shall become a wholly owned subsidiary of Piombino Steel.
Bharti Airtel said it partnered with OYO Hotels & Homes, to launch OYO Store on ‘Airtel Thanks’ application. Through OYO Store, Airtel customers can now seamlessly book quality and affordable accommodations directly out of the Airtel Thanks app. Additionally, customers can also make online payments seamlessly via Airtel Payments Bank.
Ramco Systems will be watched. Reliance Mutual Fund has purchased 91,000 shares or 0.29% of Ramco Systems. Post acquisition, Reliance Mutual Fund’s stake in Ramco Systems has increased to 5.22% from 4.93% earlier. The announcement was made after market hours today, 6 June 2019.
Mahanagar Telephone Nigam (MTNL) will be watched. Life Insurance Corporation of India (LIC) sold 1,29,65,758 shares or 2.05% of MTNL. Post sale, LIC’s stake in MTNL has decreased to 15.62% from 17.68% earlier. The announcement was made after market hours today, 6 June 2019.
Orissa Minerals Development Company will be watched. Life Insurance Corporation of India (LIC) sold 1,20,840 shares or 2.01% of Orissa Minerals Development Company. Post sale, LIC’s stake in Orissa Minerals Development Company has decreased to 15.23% from 17.25% earlier. The announcement was made after market hours today, 6 June 2019.