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**AI legalese decoder for Business News Updates**

**L&T Finance Holdings**

According to the latest financial report, L&T Finance Holdings has estimated retail disbursements at Rs 14,500 crore for Q3FY24, marking a significant growth of 25 percent on a YoY basis. Meanwhile, the retail loan book at the end of Q3FY24 is pegged at Rs 74,750 crore, showing a 31 percent YoY increase. At the end of Q3 FY24, the retailisation of the portfolio is estimated at 91 percent, indicating a strong performance in the retail segment.

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**RBL Bank**

The private sector lender, RBL Bank, has reported a 13 percent on-year growth in total deposits at Rs 92,743 crore for the quarter ended December FY24. Notably, retail LCR deposits have experienced a 16 percent YoY increase to Rs 41,209 crore. The CASA ratio dropped to 33.8 percent in Q3 FY24 from 36.6 percent in the same period last year. Furthermore, there has been a 20 percent YoY growth in gross advances to Rs 81,870 crore, with retail advances rising 32 percent YoY.

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**Lupin**

Lupin, the global pharma major, has obtained a tentative approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application for Dapagliflozin and Saxagliptin tablets, which are available in 5 mg/5 mg and 10 mg/5 mg strengths. The company plans to market a generic equivalent of Qtern tablets from AstraZeneca AB. This product will be manufactured at LupinÔÇÖs Pithampur facility in India, and it is indicated as adjuncts to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus.

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**Dabur India**

The quarter ended December FY24 witnessed an upturn in demand trends for Dabur India, with early indications of a revival in consumption. The consolidated revenue is projected to register mid- to high-single-digit growth during Q3 FY24. In India, the food and beverage (F&B) segment is expected to grow in the high single digits, and home and personal care (HPC) is anticipated to record growth in the mid-single digits. Additionally, international business is expected to register double-digit growth in constant currency terms, led by good momentum in the MENA region.

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**Utkarsh Small Finance Bank**

At Utkarsh Small Finance Bank, the small finance bank has witnessed a robust 30.8 percent on-year growth in gross loan portfolio at Rs 16,408 crore for the quarter ended December FY24. Furthermore, total deposits increased by 17.6 percent YoY and 8.2 percent QoQ to Rs 15,111 crore during the same period. CASA deposits rose by 11.6 percent YoY and 8.3 percent QoQ to Rs 3,016 crore, with the CASA ratio improving sequentially to 19.9 percent.

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**Grasim Industries**

The Aditya Birla Group company, Grasim Industries, has received approval from the Board of Directors for the rights issue worth Rs 3,999.80 crore with the issue price set at Rs 1,812 per share. The rights issue is scheduled to open between January 17 and January 29, 2024, with the record date fixed as January 10.

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**Power Finance Corporation**

The state-owned power projects financing company, Power Finance Corporation, has raised its market borrowing program to Rs 1.05 lakh crore from Rs 80,000 crore for the current financial year 2023ÔÇô24.

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**Jammu & Kashmir Bank**

Jammu & Kashmir Bank has recorded gross advances for the December FY24 quarter at Rs 93,626.5 crore, reflecting a 14.13 percent growth over the year-ago period. Furthermore, total business grew by 11.8 percent YoY to Rs 2,18,650 crore, while total deposits increased by 9 percent YoY to Rs 1,28,544 crore, with CASA deposits for the quarter rising by 2.68 percent year over year to Rs 65,035 crore.

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**Coforge**

The board members of Coforge have appointed Saurabh Goel as the Chief Financial Officer (CFO) of the company, with effect from January 5, while Ajay Kalra has relinquished the position of CFO due to personal reasons and to pursue other opportunities.

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**Jupiter Wagons**

Jupiter Wagons has secured a contract worth Rs 473 crore from the Ministry of Defense for the manufacturing and supply of 697 Boggie open military (BOM) wagons.

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**Torrent Pharmaceuticals**

The pharma company, Torrent Pharmaceuticals, has incorporated a subsidiary, Farmac├®utica Torrent Colombia SAS, in Colombia for 429 crore Colombian pesos.

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**Sunteck Realty**

Pabrai Investment Funds offloaded a 2.03 percent stake in Sunteck Realty via open market transactions on January 2, reducing their stake in the company to 6.58 percent from 8.61 percent earlier.

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**Sobha**

Foreign investor Dendana Investments Mauritius has acquired 5,09,500 equity shares, equivalent to 0.53 percent of paid-up equity, via open market transactions for an average price of Rs 1,269.57 per share, valued at Rs 64.68 crore. The south-based real estate developer has recorded 37 percent on-year growth in total sales value at Rs 1,951.6 crore, with Sobha’s share at Rs 1,735.5 crore, representing a 56.2 percent YoY increase.

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**Sun TV Network**

Kal Radio has approved the scheme of amalgamating Udaya FM with Kal Radio, subject to necessary statutory and regulatory approvals, including sanction by the National Company Law Tribunal, with the appointed date for the proposed amalgamation fixed as April 1, 2023.

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**Syrma SGS Technology**

Syrma SGS Technology has incorporated a wholly owned subsidiary, Syrma Mobility, to engage in the business of designers, manufacturers, and assemblers of memory chips, memory modules, PCB assemblies, and other storage products.

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**ESAF Small Finance Bank**

ESAF Small Finance Bank has reported total deposits at Rs 18,860 crore for the quarter ended December FY24, marking a 40.62 percent YoY and 8.3 percent QoQ growth, while CASA deposits increased 20.34 percent YoY and 13.33 percent QoQ to Rs 3,562 crore. Gross advances for the quarter at Rs 17,156 crore grew by 36.77 percent YoY and 13.44 percent QoQ, with the asset quality weakening.

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**Kay Cee Energy & Infra**

The EPC company, Kay Cee Energy & Infra, is set to list shares on the NSE Emerge on January 5, with the final issue price fixed at Rs. 54 per share. Its equity shares will be available for trading in the trade-for-trade segment.

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**UFO Moviez India**

UFO Moviez India has approved the termination of its joint venture agreements with Qube Cinema Technologies, due to an inability to reach a consensus on certain matters, including the management structure of the joint venture companies. As a result, they have mutually agreed to terminate the JV agreements.

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**Dhampur Sugar Mills**

The board of Dhampur Sugar Mills has approved a share buyback proposal worth up to Rs 30 crore, with the record date set as January 17, 2024.

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**Zuari Industries**

Zuari Envien Bioenergy has ceased to be a wholly-owned subsidiary of Zuari Industries and will continue as a 50:50 joint venture company of Zuari Industries and Envien International. Zuari Envien Bioenergy has allotted partly-paid-up equity shares to Envien, with Zuari Industries holding partly-paid-up equity shares and 1,84,90,000 partly-paid-up equity shares in Zuari Envien Bioenergy.

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**Waaree Renewable Technologies**

The Board of Directors of Waaree Renewable Technologies will be meeting on January 20 to consider the proposal for sub-division of the equity shares of the company.

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**Tracxn Technologies**

Foreign company Seabright II sold a percentage of paid-up equity capital at a certain price per share, with Seabright holding a stake as of September 2023.

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**Conclusion**

AI legalese decoder can revolutionize the way businesses and professionals interpret and analyze complex legal and financial documents, enhancing productivity, accuracy, and informed decision-making across diverse sectors and industries. With the support of AI technologies, professionals can efficiently navigate legal and regulatory provisions, monitor compliance requirements, and ensure accurate interpretation and analysis of vital business information.

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