State-owned Bank of Baroda (BoB) plans to sell up to 49 per cent stake in credit card business arm BOB Financial Solutions Ltd. Currently, it is 100 per cent owned by BoB. The bank has floated a Request for Proposal for roping in a strategic investor, and the process is expected to complete in one [...]
Central PSU Hindustan Copper Limited (HCL) is hopeful of commencing mining at its closed Rakha mine in Jharkhand, which will entail an investment of over Rs 2,000 crore, after getting final clearance from the state government, a top company official said. The Rakha mine has been closed since 2001, and the Jharkhand government has recently [...]
Bharat Electronics Ltd (BEL) on Friday said it has received new defence and non-defence orders worth Rs 2,191 crore. The orders are for supplying long-range guidance kits with warheads, airborne jammers, battlefield short range surveillance radars upgrades, missile guidance radars, shallow water craft sonars and spares, among others, it said in a statement. The Bengaluru-headquartered [...]
Shree Cement on Friday said it has completed the Rs 550-crore greenfield cement plant in the Purulia district, Bengal. The company said this is its first production facility in Bengal and has begun trial production from Friday. With this plant, the total cement production capacity of the group has increased to around 50 mt per [...]
Bharti Airtel's 5G network rollout has been more "measured" and lags behind its biggest rival Reliance Jio, according to an analyst report. Analysts at investment services provider JP Morgan in the report said the measured coverage could prompt a higher capital expenditure over the next 12-18 months by Bharti Airtel, which could face potential market [...]
State-owned NHPC Ltd on Thursday said it has completed over 90 per cent construction of its Subansiri Lower Hydroelectric project. NHPC is constructing the 2,000 MW power project located in Assam-Arunachal Pradesh. "More than 90 per cent of total project work has already been completed. After monsoon, balance work of radial gates will be completed [...]
Online grocery delivery firm Innovative Retail Concepts, which operates as BigBasket, has posted widening of loss to Rs 1,535 crore for 2022-23, according to details shared by Tofler. Tofler said the loss of BigBasket increased by 89 per cent, implying the company had posted a loss of around Rs 812 crore in 2021-22. The company's [...]
Coromandel International Ltd has acquired an additional 32.68 per cent stake in drone firm Dhaksha Unmanned Systems for Rs 204 crore, according to a regulatory filing. The company now has a 51 per cent stake in the start-up. In the regulatory filing, Coromandel International informed that its wholly owned subsidiary Coromandel Technology Ltd (CTL) is [...]
Vedanta Group has hired YJ Chen as the Chief Executive Officer (CEO) of its display business, the company said on Wednesday. Before joining Vedanta, Chen was with Chinese display maker HKC Corp, where he was Executive Vice President. He will spearhead Vedanta's plans to establish India's first display fab. "He (Chen) brings with him extremely [...]
The initial public offer of drone maker ideaforge Technology Limited was subscribed 13.27 times on the second day of share sale on Tuesday. The Rs 567.24 crore initial share sale received bids for 6,16,78,386 shares against 46,48,870 shares on offer, according to NSE data. The category for Retail Individual Investors (RIIs) received 36.36 times subscription, [...]
