GSAM Holdings LLC, an affiliate of Goldman Sachs Asset Management, sold a 2.7 per cent stake in Zinka Logistics Solutions for Rs 295 crore through an open market transaction on Monday. The US-based Goldman Sachs Asset Management oversees approximately USD 2.9 trillion in assets under supervision worldwide as of March 31, 2025. According to the bulk deal data available on the BSE, GSAM Holdings LLC offloaded 49.09 lakh equity shares, representing a 2.74 per cent stake in Zinka Logistics Solutions, the company of trucking aggregator BlackBuck.
Chip company Kaynes Semicon will allot 27,778 compulsorily convertible preference shares, offering up to 10 per cent share capital upon conversion, to US Technology International (UST) for collaboration in the semiconductor packaging business, according to an exchange filing. Kaynes Semicon, a wholly owned subsidiary of Kaynes Technology India Ltd., is setting up an Outsourced Semiconductor Assembly and Test (OSAT) plant in Sanand, Gujarat.
Axiscades Technologies informed the exchanges that it has entered the aircraft cabin interiors segment, securing two contracts worth $1.20 million from global industry leaders. The company will provide design, development, and retrofit solutions for cabin interiors, leveraging its expertise in aero-structures. Services include cabin design, seating systems, electrical wiring, retrofit solutions, and technical documentation. The projects are expected to be completed within 9 months, positioning Axiscades for growth in the expanding cabin interiors market.
State Bank of India (SBI) will provide increased insurance coverage for railway employees. As per the agreement with Indian Railways, it will cover Rs 1 crore for accidental death, Rs 10 lakh for natural death insurance, and additional benefits such as air accident coverage and disability insurance. This enhanced coverage will benefit approximately 7 lakh railway employees with SBI salary accounts, significantly improving their financial security compared to previous schemes.
Syrma SGS Technology has entered into a joint venture agreement with Italy-based Elemaster S.P.A Tecnologie Elettroniche to target growth in the rail, industrial, and medical electronics sectors. Syrma will hold a 60% stake, investing ₹33 crore, while Elemaster will own 40%, investing ₹22 crore. The venture, operating through Syrma SGS Design and Manufacturing Private Limited, aims to combine Syrma’s manufacturing expertise with Elemaster’s European OEM relationships. The JVCo’s board will have three directors, two from Syrma and one from Elemaster. This strategic move is expected to enhance Syrma’s presence in the European market and strengthen its position in specialised electronics sectors.
TD Power Systems Limited (in a notice to the stock exchange said that it has obtained a temporary court injunction from the Nelamangala Court to prevent potential disruptions from a workers’ union strike. The injunction restricts the Workers’ Union from obstructing company operations, allowing unhindered access for staff and vehicles, and permits agitation only within a 25-meter radius of the factory gates. This order ensures uninterrupted business operations for TDPS until the next court hearing.
Prestige Estates Projects, a leading real estate developer, has recently taken significant financial and strategic actions. The company has issued a corporate guarantee worth ₹1,000 crore for loan and construction finance availed by its wholly owned subsidiary, Prestige Acres Pvt Ltd.
Tyre maker CEAT has announced $171 million (around ₹1,500 crore) investment in Sri Lanka as it completes the acquisition of Michelin Group’s Camso Construction compact line business, including Sri Lanka’s Midigama plant and casting products plant in Kotugoda.