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The company has been declared the ‘preferred bidder’ for the mining lease of the Juipahar New Umrangso Limestone Block (A and B) in Assam. The limestone blocks (A and B) are spread over an area of 405 hectares. Additionally, the board has approved the acquisition of a 77.96 percent equity shareholding in NECEM Cements. Max Financial Services The board has approved fund-raising worth Rs 2,000 crore via a qualified institutional placement (QIP) or any other method. The proposed utilisation of the funds is primarily to meet the funding requirements of its material subsidiary, Axis Max Life Insurance, to support its business growth and expansion plans, with the balance to be used for general corporate purposes. Manorama Industries - The board has approved raising funds of up to Rs 500 crore through the issuance of equity shares, non-convertible debt instruments along with warrants or other convertible securities, via a qualified institutional placement or any other method. Nectar Lifesciences - The company has entered into an inter-corporate loan agreement worth up to Rs 100 crore with Avensis Exports. Avensis Exports is a subsidiary of the company. Balaji Amines - Balaji Amines is currently experiencing significant logistics disruptions in the procurement of ammonia, one of the key raw materials used in the manufacture of methylamines, ethylamines, and their derivatives, due to the ongoing war in the Middle East region. The situation has arisen due to the non-availability of ammonia. The disruption has adversely affected the supply of Liquefied Natural Gas (LNG)—a key input used for the production of ammonia by most fertiliser manufacturers in India. Consequently, several ammonia manufacturers have expressed their inability to supply the product during this period due to force majeure conditions. All this is for information only. This is not a buy/sell recommendation. Thank you, Technofunda24