Latest News on Corporate Actions

The initial public offer (IPO) of DOMS Industries procured bids for 5,04,55,458 shares as against 88,37,407 shares on offer, as per stock exchange data on Wednesday (13 December 2023). The issue was subscribed 5.71 times. The IPO was introduced for bidding on Wednesday (13 December 2023) and it will close on Friday (15 December 2023). [...]

Merging with Fincare Small Finance Bank will help AU Small Finance Bank enter the micro lending segment and also ramp up the presence in southern India, a top official said on Monday. In a significant development in the small finance banking sector, Fincare is poised to amalgamate into AU Small Finance Bank (AU SFB), with [...]

iPhone maker Apple India witnessed a 48 per cent jump in revenue on a year-on-year basis to Rs 49,322 crore in the financial year ended March 2023, according to financial details provided by business intelligence firm Tofler. Apple India had registered revenue of Rs 33,381 crore in the financial year (FY) 2022. The company's profit [...]

On Friday, JSW Steel reported returning to black as it posted a consolidated net profit of Rs 2,773 crore for the July-September quarter on the back of higher income. In the second quarter of the last financial year, the steelmaker suffered a loss of Rs 915 crore. JSW said in a regulatory filing, the total [...]

Adani Cement announced on Friday that it had refinanced a USD 3.5 billion loan it took to acquire ACC and Ambuja Cement, indicating the growing trust of international institutions in the conglomerate. The firm said in a statement that as many as 10 international banks refinanced the facility. "The re-financing program of USD 3.5 billion [...]

On Friday, TVS Motor Company announced that its foray into the Venezuelan market with plans to launch 14 products, including two-wheelers and three-wheelers. TVS Motors Company said in the filing that the company will be introducing the products with its local distributor, SERVISUMINISTROS JPG. The company's product line includes premium motorcycles like as the RR [...]

On Friday, digital, engineering and technology solutions company Cyient said it has signed an initial pact with the Centre of Excellence in Maritime and Shipbuilding (CEMS) to collaborate on skill enhancement training for the student community. Cyient said in the statement that one of the primary objectives of this industry-academia partnership is to leverage Cyient's [...]

The company’s CMD Prasanna Kumar Motupalli said on Friday that NLC India Ltd is exploring the possibility of mining critical minerals, including lithium, and will participate in the auction of the blocks once they are on offer. The statement comes at a time when the government is in the process of auctioning critical minerals. In [...]

Omega Seiki Mobility, an electric vehicle maker on Friday announced a strategic partnership with Honda Power Pack Energy India (HEID) for implementing battery swap technology in over 10,000 passenger and cargo vehicles in the next two years. OSM said in the statement that under this collaboration, HEID, the subsidiary company of Japanese automobile giant Honda [...]

On Thursday Biocon Biologics said it has appointed Kedar Upadhye as its new CFO. Upadhye replaces MB Chinappa who will take up a finance role at the Biocon Group. The Bengaluru-based compnay said in a statement that the leadership changes will be effective October 31, 2023, the Bengaluru-based company said in a statement. "He (Upadhye) [...]

Manoj Kumar Jhawar has resigned as the director and chief financial officer (CFO) of the company. KIOCL said on Thursday. According to a regulatory filing, Being a government company, Jhawar's resignation has been submitted to the Union Ministry of Steel for consideration and further details will be submitted on receipt of communication from the ministry. [...]

On Thursday Welspun Corp Ltd (WCL) said it has bagged a contract to supply 61,000 metric tonnes (MT) of LSAW pipes and bends in the Middle East. WCL said in the statement that the company will supply the longitudinally submerged arc welding (LSAW) pipes and bends from its plant, located at Anjar in Gujarat. "Welspun [...]

On Thursday, Granules India Ltd said it has received approval from the US health regulator for its generic Esomeprazole Magnesium delayed-release capsules indicated for short-term treatment of heartburn and other symptoms associated with gastroesophageal reflux disease. Granules India said in a regulatory filing that the approval by the US Food & Drug Administration (USFDA) is [...]

Blue Jet Healthcare a pharmaceutical ingredient maker fixed a price band of Rs 329-346 per share for its Rs 840 crore Initial Public Offering (IPO) on Thursday. The bidding for the issue, which is entirely an Offer for Sale (OFS) component of 2.42 crore shares by promoters - Akshay Bansarilal Arora and Shiven Akshay Arora [...]

Adani Energy has commissioned the largest inter-regional 765 KV Warora-Kurnool electricity transmission line. The company said on Thursday. According to a statement, The project, spanning 1,756 circuit kilometres (ckm) across Maharashtra, Telangana and Andhra Pradesh, will strengthen the national grid to ensure a seamless power flow of 4,500 MW between western and southern regions. The [...]

On Wednesday Piramal Enterprises Limited said it plans to raise Rs 1,000 crore from the maiden issuance of Non-Convertible Debentures (NCDs) to fund business growth. The tranche I consists of a Rs 200 crore base issue and a green-shoe option of up to Rs 800 crore, for a total of Rs 1,000 crore, which is [...]

Blue Jet Healthcare, a manufacturer of pharmaceutical chemicals, has announced that its initial share sale would be open for public subscription on October 25. The bidding for the Initial Public Offering (IPO), which is entirely an offer for sale (OFS) of 2.42 crore shares by promoters - Akshay Bansarilal Arora and Shiven Akshay Arora - [...]

Rating agency Crisil said on Wednesday India's diamond polishing industry will see its revenue drop by 30-35 per cent to USD 14-15 billion in current fiscal year on poor demand from the US, EU and China. It added, in these three geographies account for 75 per cent of India’s polished diamond exports. Rahul Guha, Director [...]

The government on Wednesday again extended restrictions on sugar exports beyond October 31 this year, a step aimed at enhancing the commodity's availability on the domestic market during the festive season. Earlier, the restrictions were imposed until October 31 this year. The directorate general of foreign trade (DGFT) said in a notification that "Restriction on [...]

On Wednesday, Glenmark Pharmaceuticals said it has launched a triple-fixed-dose combination (FDC) drug for the treatment of diabetes. Under the name Zita, the compnay has introduced a combination of Teneligliptin, Dapagliflozin and Metformin.  It is indicated to improve glycemic control in patients with Type 2 diabetes. The company stated that Priced at Rs 14 per [...]

According to a report, The massive infra spending by the government towards building roads, railway lines and power, among others, will boost cement demand by 10-12 per cent this fiscal. The Centre has increased its infrastructure budget allocation for fiscal 2024 by Rs 1.6 lakh crore to Rs 5.9 lakh crore from a revised estimate [...]

In order to install EV charging stations at residential complexes in Greater Noida, close to the national capital, Statiq, a provider of electric vehicle (EV) charging services, and Noida Power Company Ltd. According to a statement from the company, the memorandum of understanding (MoU) represents a further consolidation of Statiq's recent efforts to take the [...]

Government borrowing costs will decrease as a result of J.P. Morgan's announcement that it intends to incorporate Indian government bonds (IGBs) or government securities (G-Secs) into its benchmark Emerging Market index starting in 2019. From June 28, 2024, to March 31, 2025, the inclusion of the IGBs will happen in stages, representing a 1% increase [...]

On Friday, shares of fintech company Zaggle Prepaid Ocean Services Ltd. made a subdued market debut, falling over 1% on the BSE in comparison to the Rs 164 issue price. On the BSE, the stock began trading at Rs 162, down 1.21% from the issue price. Later, it made up the ground lost, rising 4% [...]

In order to develop 4-6 affordable housing projects in the Mumbai Metropolitan Region (MMR), Sunteck Realty and IFC have established a joint platform to receive investments of up to Rs 750 crore. The largest international development organization with a focus on the private sector in emerging markets is IFC, a subsidiary of the World Bank. [...]

Shares of Samhi Hotels Ltd on Friday listed with a gain of nearly 7% against the issue price of Rs 126. The stock made its debut at Rs 130.55, up 3.61% from the issue price on the BSE. Later, it climbed 5.55% to Rs 133. At the NSE, it began the trade at Rs 134.50, [...]

A framework for resolving complaints received through the SCORES platform for registered entities and for monitoring such concerns by designated bodies was released by capital markets regulator Sebi on Thursday. The Securities and Exchange Board of India said in a circular that the new guidelines will come into force from December 4. SCORES was introduced [...]

On Thursday Kotak Alternate Asset Managers (Kotakalt) announced an additional Rs 600 crore investment in Sify Technologies. The investment by Kotak Data Center Fund into Sify Infinit Spaces (SISL), which takes the overall bet by Kotakalt to Rs 1,600 crore, has been deployed for expanding data centre capacity across India and investing in renewable energy, [...]

For the third straight session, selling pressure caused the equity benchmark indexes Sensex and Nifty to falter, and they ended the day over 1 per cent lower on Thursday as investors reduced their exposure to shares of financial, banking, and automotive companies. Following the US Federal Reserve's announcement that they anticipate raising rates again this [...]

ITC Hotels on Thursday announced that it has signed a management agreement with a construction company for Welcomhotel Kalimpong resort in West Bengal. The 70-key greenfield project will spread over four acres of land and will offer plush rooms with views of the Himalayas and the valley, a company statement said. The business disclosed the [...]

The GG Engineering Ltd. board has given the approval for the company to merge with Integra Essentia Limited, which is involved in the steel and renewable energy industries. GG Engineering said in the regulatory filing on September 20 that the proposal remains subject to several other necessary approvals. "We would like to inform that the [...]

On Thursday renewables solution provider Tata Power Renewable Energy said that it has collaborated with Nepalese firm Dugar Power to accelerate Nepal's renewable energy initiatives. According to a statement, this tie-up heralds TPREL's strategic entry into Nepal's rapidly evolving renewable energy sector and sets the stage for a quantum leap in accelerating Nepal's shift toward [...]

The capital market regulator Sebi fined 15 entities, including Kapil Wadhawan and Dheeraj Wadhawan, a total of Rs 6 crore on Wednesday for violating disclosure laws in the case of Deewan Housing Finance Corp Ltd (DHFL). Wadhawans are the former promoters of DHFL. The Securities and Exchange Board of India said in an order that [...]

On Thursday shares of water and sewerage infra solutions player EMS Ltd listed with a premium of nearly 34 per cent against the issue price of Rs 211. The stock started trading on the BSE at Rs 281.55, a jump of 33.43 per cent. Later, it increased by 36.82% to Rs 288.70. At the NSE, [...]

On Thursday Chennai-based integrated facilities management firm Updater Services announced the price band for its Rs 640-crore public offering, at Rs 280-300 per share, for the issue opening on September 25. The business, which was founded in Chennai way back in 1987, claims to be the market leader with revenues of Rs 2,100 crore in [...]

On Thursday Mahindra & Mahindra said its Canada-based associate firm Resson Aerospace Corporation has ceased to exist. The automaker from Mumbai owned 11.18 per cent of the company that had requested a voluntary winding-up. "Resson has received a Certificate of Dissolution from Corporations Canada dated September 20, 2023, which was informed to the company," Mahindra [...]

After contributing Rs 26.44 lakh toward the settlement sum, Goldman Sachs (Singapore) Pte settled with capital markets regulator Sebi a matter involving some inconsistencies in the monthly ODI (offshore derivative instruments) reporting. The order came after Goldman Sachs, a registered Foreign Portfolio Investor (FPI) that deals in off-shore derivative instruments, proposed to settle the alleged [...]

On Wednesday Realty firm Godrej Properties said that it has raised Rs 1,160 crore through the issue of non-convertible debentures on a private placement basis. The company said the allotment committee of the Board of Directors approved the allotment of the Non-Convertible Debentures (NCDs). In a regulatory filing. Godrej Properties said the company has allotted [...]

Infosys a global leader in next-generation digital services and consulting, and NVIDIA today announced that they have expanded their strategic collaboration with the aim to help enterprises worldwide, drive productivity gains with generative AI applications and solutions. The expanded alliance will provide Infosys Topaz, an AI-first suite of services, solutions, and platforms that accelerate business [...]

On Wednesday Aurobindo Pharma said that the US health regulator has issued a Form 483 with one observation after inspecting a formulation production facility of its unit in Andhra Pradesh.  The US Food and Drug Administration (US FDA) inspected Unit IV of APL Healthcare Ltd, a wholly-owned subsidiary of the company, in Tirupati district of [...]

On Wednesday India Ratings and Research upwardly revised its FY24 real GDP growth estimate to 6.2 per cent from the 5.9 per cent expected earlier. The local rating agency ascribed its revision to a number of elements, including the government's capital expenditure, deleveraged bank and India Inc. balance sheets, low global commodity prices, and the [...]

Debt-oriented mutual fund schemes experienced a stunning influx in July, but last month saw a withdrawal of Rs 25,872 crore as investors remained cautious given the US interest rate environment. Data with the Association of Mutual Funds in India (Amfi) showed that out of 16 debt categories, nine of them witnessed net outflows during the [...]

On Wednesday the Indian conglomerate said in the stock exchange filing that France's TotalEnergies SE will invest USD 300 million in a new joint venture with Adani Group for the renewable energy project. Adani Green Energy Ltd, the renewable energy arm of the Adani group, said: "Total will make a further investment (either directly or [...]

On Wednesday, Asia Healthcare Holdings announced that it had purchased the majority of the shares in the Asian Institute of Nephrology and Urology and that it would contribute Rs 600 crore to the latter.  The investment will be made using a combination of primary and secondary infusion, according to a statement from Asia Healthcare Holdings [...]

According to Wednesday's statement by Minister of State for Electronics and IT Rajeev Chandrasekhar, organizations may be given about a year to adjust their systems to conform to the requirements of the Digital Personal Data Protection Act, 2023. On the sidelines of an industry consultation, Chandrasekhar addressed the media and promised that the Data Protection [...]

On Wednesday, shares of R R Kabel Ltd, a manufacturer of wires and cables, were listed at a premium of 14% over their Rs 1,035 issue price. The stock began trading on the BSE at Rs 1,179, up 13.91% from the issue price. Later, it increased 15.75 percent to Rs 1,198.05. It started trading at [...]

In an effort to hasten the adoption of electric vehicles in the nation, German luxury automaker Mercedes-Benz India announced on Friday that its network of charging stations will now serve users of other brands. The automaker also unveiled a brand-new "Customer Experience Center" at Chakan, in Pune, and the top-of-the-line EQE 500 4MATIC electric SUV, [...]

The acquisition will improve CRISIL's standing in the new energy and renewables market. Bridge To India Energy Private Limited (also known as "Bridge To India") is a leading provider of renewable energy consulting and knowledge services to financial and corporate clients worldwide. Bridge To India is a subsidiary of S&P Global. CRISIL has entered into [...]

Kerala's renowned Marayoor sandalwood trees are prized for their unmatched fragrance, and this month's auction brought in a record amount of money for the state's forest department. According to officials, the department won the auction, in which major corporations and organizations including Karnataka Soaps, Oushadhi, Jaipur CMT and India Limited, KFDC, and Devaswom Boards participated, [...]

Indian Business Wire Nominations open through October 5, 2023, L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a major international digital engineering and R&D organization. Awards acknowledge excellent engineers and creative techniques in the area. In collaboration with Information Services Group (ISG), a preeminent worldwide technology research and consultancy firm, and the Indian business news [...]

Encourages sustainable business practices and aims to meet the country's 9000 dealers and 180 distributors' needs for operating finance. India's Bengaluru, Karnataka Greaves Retail, the retail division of Greaves Cotton Limited, a supplier of clean mobility and energy solutions in the e3W, ICE 3W, and SCV segments, and UGRO Capital Limited, a top DataTech NBFC [...]

For initial share sales, On Thursday Ethnic apparel retailer Sai Silks (Kalamandir) fixed a price band of Rs 210-222 per share for its Rs 1,201 crore, which opens on September 20. The Initial Public Offering (IPO) will bring in around Rs 1,201 crore at the top of the price range. The Hyderabad-based company was founded [...]

On Thursday, Online travel company Yatra Online said that it has mobilised Rs 348.75 crore from anchor investors ahead of its Rs 775-crore initial public offering (IPO). According to the circular uploaded on the BSE, The company has allocated 2.45 crore equity shares to 33 entities at Rs 142 apiece. ICICI Prudential Mutual Fund (MF), [...]

The second phase of Pratt & Whitney's engine recall will be covered by a service bulletin in two months, according to the aviation regulator DGCA, and the majority of engine removals are anticipated to take place in the first quarter of 2024. According to a note, the Directorate General of Civil Aviation (DGCA) also brought [...]

According to officials, Indian oil companies are looking into the possibility of using the nearly USD 600 million in dividend income that is currently stuck in Russia to purchase oil there. The top four oil companies in India, including Oil India Ltd., ONGC Videsh Ltd., and Indian Oil Corporation (IOC), a division of Bharat Petroleum [...]

In order to provide a unique experience to customers choosing the environmentally friendly models, Tata Motors plans to establish a separate sales network for its electric passenger vehicles in the current fiscal year, according to a top company official. The Mumbai-based auto giant said it will begin experimenting with new outlets in some of the [...]

On Thursday Union Road Transport and Highways Minister Nitin Gadkari said that dealers of automobiles should also open vehicle scrapping facilities. Addressing the fifth Auto Retail Conclave, Gadkari said the government is encouraging a circular economy, and accordingly the government will give permission to dealers to start vehicle scrapping facilities. He also noted that India [...]

On Thursday Serentica Renewables said it has tied up with PFC for a Rs 2,600 crore debt funding for its upcoming projects in Karnataka. The business is installing 400 MW of wind and solar capacity in Karnataka, where it has already obtained connectivity to the interstate transmission system (ISTS). "The debt funding...will accelerate our journey [...]

Naresh Goyal, the founder of Jet Airways, was ordered to judicial custody for 14 days by a court in this city on Thursday in connection with a money laundering case involving an alleged fraud of Rs 538 crore at the Canara Bank. The Enforcement Directorate (ED) arrested Goyal on September 1 under the Prevention of [...]

Adani Group on Thursday said it has formed a 50:50 joint venture with Japanese conglomerate Kowa Group for the sale of green hydrogen in Japan, Taiwan and Hawaii markets. A corporation led by billionaire Gautam Adani is investing up to USD 50 billion over the following ten years in the creation of an entirely integrated [...]

On Thursday Sun Pharmaceutical Industries said one of its wholly-owned subsidiary unit has tied up with US-based Pharmazz Inc to commercialise a drug used to treat cerebral ischemic stroke in India. One of the company's wholly-owned subsidiaries has entered into a license agreement with the US-based biopharmaceutical company to commercialise a first-in-class innovative drug, Tyvalzi, [...]

Enterprise Wire India An important market for credit cards and other financial products in India is Bajaj Markets, a division of Bajaj Finserv. It recently partnered with IndusInd Bank to offer credit cards with alluring deals and advantages. Now, one can apply online via the Bajaj Markets app or website for the IndusInd Bank Platinum [...]

Ethnic apparel retailer Sai Silks (Kalamandir) Ltd. on Wednesday said that on September 20 its initial share sale will open for public subscription. On September 18 bidding will open for anchor investors. According to the Red Herring Prospectus (RHP), The offer of Sai Silks (Kalamandir) Ltd (SSKL) comprises fresh issue of equity shares worth up [...]

Adani Enterprises Ltd. said on Wednesday that its arm Adani New Industries Ltd has received a key international certification and will now be able to start production of 5.2 MW series wind turbine generators for global markets. The company was so far manufacturing and supplying 5.2 MW Wind Turbine Generators (WTGs) for domestic wind industry [...]

On Wednesday Sajjan Jindal-owned JSW Infrastructure said its initial share sale will open for public subscription on September 25. The IPO comprises a fresh issue of shares worth Rs 2,800 crore. According to the Red Herring Prospects (RHP) JSW Infrastructure's issue will conclude on September 27, while the bidding for the anchor investors will open [...]

Commerce and Industry Minister Piyush Goyal said on Wednesday that US-based electric vehicle maker Tesla is looking to source components worth around USD 1.9 billion from India this year against USD 1 billion last year. The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth [...]

Early on Thursday, amid a generally robust trend in Asian markets and buying in IT and financial sectors, the equity benchmark indices Sensex and Nifty reached their record highs as part of their continuous rise. Rallying for the 10th day running, the 30-share BSE Sensex jumped 304.06 points to 67,771.05 -- its all-time peak -- [...]

Units of REITs and ETFs issued by companies headquartered in GIFT City or traded on local exchanges are to be exempt from capital gains tax, according to the government. Any unit of an investment trust, a unit of a scheme, or a unit of an ETF launched under the International Financial Services Centres Authority (Fund [...]

In order to support space-tech innovations through cloud computing, ISRO and IN-SPACe have signed a memorandum of understanding with Amazon Web Services (AWS). AWS said in a statement on Wednesday that the partnership with ISRO and the Indian National Space Promotion and Authorization Centre (IN-SPACe) aims to give space startups, research institutions, and students access [...]

On Wednesday, the government gave the go-ahead for Cyprus-based Berhyanda Ltd.'s proposed foreign investment of up to Rs 9,589 crore in Suven Pharmaceuticals. An official statement following the meeting of the Cabinet Committee on Economic Affairs stated that the approval is for Berhyanda to purchase up to 76.1% of the outstanding shares of Suven Pharmaceuticals [...]

The benchmark Sensex increased for a ninth consecutive session on Wednesday as buying in banking, energy, and telecom shares was sparked by positive macroeconomic data. The Nifty also closed above the record 20,000 mark for the first time. In day trading, the 30-share BSE Sensex recovered from early lows to trade close to its all-time [...]

The opening of DP World's 3.80 million square foot warehouse in Bhiwandi, Maharashtra, was announced on Wednesday. The facility, which went into operation on September 1, will serve companies in and around the region involved in industries like chemicals, pharmaceuticals, electric vehicles, and agriculture. The company said that with the addition of the new strategically [...]

To avoid having its assets seized to cover a loan default, lenders claim Byju's hid USD 533 million in a mysterious, three-year-old hedge fund. However, the ed-tech giant claims that its agreement with lenders did not explicitly forbid the movement of funds. According to a lawsuit filed in a US court, Byju's US-based subsidiary Alpha [...]

According to a senior government official, the government is investigating legal options against electric two-wheeler companies for failing to adhere to the FAME II scheme norms. In response to seven manufacturers of electric two-wheelers claiming incentives while failing to follow the rules of the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme, the [...]

With 6.8 million square feet, BFSI leasing recovered in 2022 and surpassed pre-pandemic levels. In H1 2023, higher domestic demand helped the BFSI sector's share of overall leasing increase once again to 15%. Bengaluru came in second with 24% of the leasing market, trailing Mumbai's 31% share. According to Colliers, the banking and finance industry [...]

Allcargo group firm Gati on Wednesday said it is expecting an 18–20% increase in festive season demand, particularly in segments such as e-commerce and white goods, among others, this year. The company said it is geared up to cater to this anticipated surge with its enhanced warehousing and service delivery capabilities. Gati has surface transhipment [...]

Hinduja Group on Tuesday said it has collaborated with Raffles Hotels & Resorts to restore 'The Old War Office' of Britain's World War II era prime minister Winston Churchill. The group said in a statement that the property with 120 guest rooms and suites, along with restaurants and spas, will be inaugurated on September 26, [...]

On a private placement basis to issue non-convertible debentures for up to Rs 250 Cr, MSME and vehicle loan provider Baid Finserv Ltd has approved.   In the recent 32nd Annual General Meeting (AGM), the company approved the issuance. The terms and conditions of the issue will be decided by the board of directors, a release [...]

In protest of the high value-added tax (VAT) rate on petrol, the Rajasthan Petroleum Dealers Association has called for a strike on Wednesday and Thursday from 10 a.m. to 6 p.m. across the state. The Association has called for a two-day symbolic strike on September 13 and September 14. State President of Rajasthan Petroleum Dealers [...]

To fund business growth state-owned Bank of Maharashtra (BoM) on Tuesday said it plans to raise Rs 1,500 crore through bonds. BoM said in a regulatory filing, the lender intends to raise the funds through private placement of Basel-III compliant tier II bonds. The issue size is Rs 250 crore with a green shoe option [...]

In the illiquid stock option segment on the BSE for indulging in non-genuine trades, SEBI has imposed fines totaling Rs 35 lakh on seven entities. In seven different orders on Monday, the regulator slapped a fine of Rs 5 lakh each on Subhash Kumar Poddar HUF, Manoj Kumar Goenka HUF, Ayan Akhter Husain, Ankita Didwania, [...]

On Tuesday TPG-backed wires and cables manufacturer RR Kabel Ltd said that it has mobilised Rs 585.62 crore from anchor investors ahead of its initial share sale. According to a circular uploaded on the NSE, an average price of Rs 1,035 apiece, the company has allocated 56,58,201 equity shares to 54 entities. HDFC Mutual Fund, [...]

Due to the sale of the retail division to Axis Bank, the net profit for the Indian operations of the American lender Citi increased to Rs 13,614 crore in FY23. A net profit of Rs 4,700 crore, or a 26% increase over the Rs 3,727 crore it reported for FY22, was reported by the lender [...]

On Tuesday, Tata Power Delhi Distribution disclosed a strategic alliance with Utiltyx, the Indian division of a US-based software company that specializes in data analytics and cyber security. According to a statement from the company, the partnership aims to improve the organization's readiness against potential threats and challenges related to cyber security. According to the [...]

In an effort to promote environmentally friendly coal transportation, Coal India Ltd has committed to investing a total of about Rs 24,750 crore in 61 first-mile connectivity (FMC) projects over the next few years. The projects, which will be built in three phases, will have a combined annual capacity of 763.5 million tonnes, according to [...]

The US International Development Finance Corporation has authorized financial assistance to Tata Power Renewable Energy Ltd. in the amount of up to USD 425 million (Rs 3,521 crore) for the establishment of a 4.3 GW solar cell in Tamil Nadu by its subsidiary. According to a statement released on Monday by Tata Power Renewable Energy [...]

According to industry group SIAM, wholesale sales of passenger vehicles in the nation increased 9% year over year in August as a result of strong demand for SUVs and other utility vehicles. From 3,28,376 units in August 2022, the total number of passenger vehicles dispatched to dealers increased to 3,59,228 units last month. Sales of [...]

According to Diversified PSU Balmer Lawrie, some of its business units, including industrial packaging (IP) and logistics services (LS), may face significant challenges as a result of global geopolitical developments like the conflict between Ukraine and Russia. The firm's outlook indicates that the Russia-Ukraine situation is still having a negative impact on the world economy, [...]

To raise funds through an IPO, Integrated Facilities Management Updater Services Ltd has received SEBI approval. Integrated facilities management Updater Services Ltd has received capital markets regulator Sebi's approval to raise funds through an Initial Public Offering (IPO). The IPO will comprise both a fresh issue of equity shares aggregating up to Rs 400 crore [...]

According to its MD Ishver Dholakiya, Gujarat-based Goldi Solar and Desert Technologies of Saudi Arabia have signed a contract to look into investment opportunities in the green energy sector. According to the Memorandum of Understanding (MoU), Goldi Solar said in a statement that it will provide technologies to develop green projects. "As part of the [...]

In order to reduce air pollution, Union Minister Gadkari stated on Tuesday that he will seek a "pollution tax" in the form of an additional 10% GST on diesel cars and generators.  Speaking at the 63rd Annual SIAM convention here, the Union Road Transport and Highways Minister said the rising level of pollution is a [...]

In order to collect money through an Initial Public Offering (IPO), the government-run Indian Renewable Energy Development Agency (IREDA) has submitted draft papers with Sebi. The state-owned company is planning to go public for the third time following two unsuccessful bids in 2017 and 2019 against the backdrop of unfavourable market conditions. According to the [...]

The RBI has approved the reappointment of Sandeep Bakhshi as Managing Director and CEO of the private lender for three years. Private sector ICICI Bank on Monday said. The reappointment of Bakhshi will be effective from October 4, 2023, till October 3, 2026, ICICI Bank said in a regulatory filing. The bank's shareholders have already [...]

In order to produce reinforced products, Tata Steel on Monday opened a completely automated construction service centre in Uttar Pradesh. The centre in Ghaziabad, which is the company's second such unit after Cuttack in Odisha, will also provide solutions to the construction industry, Ashish Anupam, Chairperson, Marketing & Sales, Long Products, Tata Steel, said while [...]

NTPC Green Energy Limited (NGEL) has entered into a pact with Nayara Energy to explore opportunities in the green hydrogen space. NTPC said in a statement, on Monday the memorandum of understanding (MoU) was signed between NGEL CEO Mohit Bhargava and Nayara Energy Head-Technical Amar Kumar, in the presence of other senior officials of both [...]

The company said on Tuesday that NTC Group, engaged in logistics and supply chain management, has forayed into the Indonesian market further strengthening its presence overseas. Besides having a presence as an integrated logistics solution provider, in Singapore, Malaysia, Hong Kong, Belgium, and Saudi Arabia. NTC Group has launched operations in Jakarta. With the presence [...]

On Friday for public subscription, the initial share sale of travel service provider Yatra Online Ltd will open. According to the Red Herring Prospectus filed on Friday, the three-day Initial Public Offering (IPO) will conclude on September 20 and the bidding for anchor investors will open on September 14 and for retail on September 15. [...]

Reliance Industries Ltd said on Monday that, Reliance Retail Ventures Ltd. will get an investment of Rs 2,069.50 crore from the international investment firm KKR in exchange for an additional 0.25 per cent share in the retailer, which is valued at roughly Rs 8.36 lakh crore. By making this investment, KKR would boost its ownership [...]

On Monday, strong buying by domestic investors helped equity markets extend the winning streak to a seventh straight session. The benchmark Sensex increased by 528 points to reclaim the 67,000 level, while Nifty scaled the record 20,000 level for the first time. The positive momentum in stocks was also aided by the success of the [...]