Mahindra & Mahindra | Enters into an asset transfer agreement with Mahindra Electric Automobile Ltd., the EV wholly-owned subsidiary for transfer of certain identified assets. Transfer of the balance assets will be completed by June 30, 2026. Additionally, the first tranche of the Rs 1,925 crore investment in MEAL by the company and British International Investment Plc, up to Rs 1,200 crore will be completed not later than March 31, 2024 compared to the earlier date of June 30, 2023. The second tranche of Rs 725 crore will be based on the milestones being achieved by July 1, 2024.

Wockhardt | The company during its investor meet said that the restructuring of business will result in annual savings worth $12 million. Restructuring will include shut down of its manufacturing facility at Morton Grove. The company has also signed an agreement with the Serum Institute of India to manufacture vaccines at its UK facility for which it has received 10 million Pounds as contribution for reserving capacity.

Hindustan Zinc | The Vedanta Group firm on Tuesday said the company has called shareholders to meet on March 29 in the matter of the scheme of arrangement with the company and shareholders. This comes after the government opposed the use of Hindustan Zinc's balance sheet by the Vedanta Group to fund the purchase of its global zinc assets. Vedanta holds 64.92 percent of the equity share capital of Hindustan Zinc.

Bharat Electronics | Navratna defence PSU on Tuesday signed a memorandum of understanding (MoU) with Aeronautical Development Agency (ADA) and DRDO for the Advanced Medium Combat Aircraft (AMCA) programme. The MoU was announced on the sidelines of the 'Bandhan,' event held at Aero India 2023. The AMCA is a fifth-generation, multi-role, all-weather fighter aircraft designed with high survivability and stealth capability.

ITI | State-owned firm on Tuesday (21, February) said the government has appointed Rajesh Rai as the chairman and managing director (CMD) of the company for a period of five years. He has earlier served as general manager (admin) of Mahanagar Telphone Nigam Ltd (MTNL), Mumbai.

Lemon Tree | Signs franchise agreement for a 34 room property in Manali under the Lemon Tree Hotel brand name. The hotel is expected to be operational by June 2023. The hotel will feature 34 rooms, two restaurants, a bar, a meeting room, a recreation room and a fitness center.

Mirza International | NCLT approves amalgamation of RTS Fashions Pvt. Ltd. and de-merger of the branded business into Redtape Ltd.