Royal Enfield is developing 'uniquely differentiated electric motorcycles' and has already started investing towards product development and creating a supplier ecosystem around its Chennai-based plant, according to CEO B Govindarajan. The company, which is part of Eicher Motors, has announced a capex of Rs 1,000 crore for the current fiscal with a focus on various [...]
Six entities including four foreign portfolio investors (FPIs) are under lens for suspicious trading in Adani group shares prior to the release of the damning Hindenburg report, the Supreme Court-appointed expert committee has said. There was a build up of short positions in the Adani scips prior to the January 24 release of the Hindenburg [...]
Global private equity giant Blackstone on Sunday announced the acquisition of International Gemological Institute (IGI) at an enterprise value of over USD 525 million. IGI is headquartered in Antwerp, Belgium, but counts on India, the largest diamond polisher in the world, for a majority of its revenues and profits. Blackstone has acquired 80 per cent [...]
Gail India plans to borrow up to Rs 7,000 crore in FY24 to fund the Rs 10,000 crore capital expenditure plan for this fiscal, a top company official said on Friday. The state-owned company's chairman and managing director SK Gupta said, "For this fiscal, we plan to spend Rs 10,000 crore". He added that even [...]
Technology firm Siemens' board on Friday approved the sale of low voltage motors and geared motors businesses to a Siemens AG subsidiary -- Siemens Large Drives India -- for Rs 2,200 crore. The Board of Directors of Siemens Limited has approved the sale and transfer of low voltage motors and geared motors businesses, including related [...]
An expert committee appointed by the Supreme Court said it cannot conclude any regulatory failure around Adani Group's stock rallies, and that Sebi has "drawn a blank" in its probe into alleged violations in money flows from offshore entities into the conglomerate. But the six-member panel said there was an evidence of a build-up in [...]
Shares of Nexus Select Trust, the first REIT backed by rent-yielding retail real estate assets, listed with a gain of 3 per cent against the issue price of Rs 100 per unit on Friday. The stock made its debut at Rs 102.27, up 2.27 per cent on the BSE. It further climbed 4.9 per cent [...]
State-owned non-banking finance firm REC Ltd is planning to increase its loan book over two-fold to Rs 10 lakh crore by 2030, including Rs three lakh crore for renewable energy projects. This assumes significance given India's ambitious target of having 500GW of renewable energy capacity by 2030. REC Ltd's loan book is Rs 4.35 lakh [...]
A former unit of Russian energy giant Gazprom has resumed supplying LNG to Indian state gas utility GAIL a year after it halted supplies due to the Ukraine war, GAIL chairman Sandeep Kumar Gupta said Thursday. The resumption of supplies, which came to a halt in June last year, has shored up gas availability in [...]
A promoter of BLS International Services on Thursday offloaded shares worth Rs 196 crore through an open market transaction. BLS International Services is into visa and consular services and Diwakar Aggarwal (promoter) has sold his shares. According to the bulk deal data available with the National Stock Exchange (NSE), Diwakar Aggarwal offloaded 1.12 crore shares, [...]
