Goyal Aluminiums has plans to invest Rs 200 crore to set up an electric vehicle (EV) manufacturing plant in Uttar Pradesh. The company has been allotted 4,000 square metre land from the Greater Noida Industrial Development Authority (GNIDA) for the project. "Goyal Aluminiums...is gearing up to set up a new electric vehicle manufacturing plant with [...]
Average increments are likely to drop to 9.1 per cent this year in almost all sectors following inflation, higher interest rates and a slowdown in the economy, according to a study. The average increment in 2022 was 9.4 per cent, Deloitte India Talent Outlook 2023 stated on Wednesday. The study found that in 2023 increments [...]
Auto components maker Lifelong Group on Wednesday said it has acquired stressed automobile after-sales service startup GoMechanic for an undisclosed amount. The GoMechanic business has been acquired by the Lifelong Group as the majority shareholder under Servizzy consortium, the Delhi-based firm said in a statement. The Lifelong Group is an Indian company established in 1985 [...]
ReNew Energy Global Plc (ReNew) on Tuesday said it has repaid more than USD 1 billion to its offshore bondholders in the current financial year. The amount repaid includes the recent amortisation of USD 180 million, ReNew said in a statement. "ReNew has repaid more than USD 1 billion to its offshore bondholders in FY [...]
Adani Group CFO Jugeshinder Robbie Singh on Tuesday said stock exchanges update data on promoter share pledges at the end of the quarter, as he tried to clarify on present data not matching with the conglomerate's statement of repaying all the USD 2.15 billion of share-backed debt. Singh termed reports suggesting that the company's March [...]
The Ministry of Heavy Industries on Tuesday said Rs 800 crore under FAME India Scheme Phase II has been sanctioned to three PSU oil marketing companies (OMC) for setting up 7,432 public fast charging EV stations across the country. The amount has been sanctioned under FAME Scheme Phase II. The ministry has released Rs 560 [...]
Aster DM Healthcare on Tuesday said its main promoters, the family of its founder Azad Moopen, recently bought the 4 per cent stake held by a private equity investor for Rs 460 crore, increasing their holding to 41.88 per cent now. The deal values Aster DM Healthcare at USD 1.4 billion, the company said. Its [...]
The states have been forced to pay a near record high of 7.81 per cent for their market borrowings on the final auction of the outgoing fiscal on Tuesday, despite record supplies. Fifteen states have raised a record Rs 41,200 crore from the market, which is a record supply in recent years. This supply is [...]
The government has exercised the call option for the redemption of non-interest bearing special security to the tune of Rs 255 crore given to IDBI Bank in 2004. With this redemption the total outstanding amount will come down to Rs 2,378.73 crore, a gazette notification dated March 27, 2023, said. These 20-year tenure special securities [...]
State-owned NTPC Renewable Energy will supply 1,300 MW round-the-clock clean power to Greenko’s upcoming green ammonia plant at Kakinada. NTPC Renewable Energy Ltd, a wholly-owned subsidiary of NTPC Green Energy Limited, has signed a term sheet with Greenko ZeroC Pvt Ltd (A Greenko Group company) on March 28, 2023, to supply 1,300 MW round-the-clock RE [...]
