Latest News on Corporate Actions

InterGlobe Aviation's promoter Shobha Gangwal on Wednesday sold a nearly 2.9 per cent stake in the company for a little over Rs 2,800 crore through open market transactions. Shobha Gangwal is the wife of Rakesh Gangwal, the co-founder of the company, which is the parent of the country's largest airline IndiGo. The shares were sold [...]

Financial services provider Religare Enterprises Limited (REL) offers a variety of products. The company's main areas of concentration include loans, health insurance, and retail broking. The Burman Family on Wednesday acquired a 7.5 per cent stake in diversified financial services group Religare Enterprises for Rs 534 crore through open market transactions. Following the stake purchase, [...]

IndiGo is one of the world's fastest-growing airlines and the largest and most popular passenger airline in India. The Directorate General of Civil Aviation (DGCA) has approved flights of IndiGo to Tashkent, Uzbekistan. On Wednesday, the airline announced that it would start services to Tashkent on September 22. A senior official on Thursday said the [...]

Housing loan finance company Repco Home Finance expects to manage assets under management (AUM) of around Rs 14,000 crore by the current financial year, a top official said. The Tamil Nadu-based company was managing an AUM of around Rs 12,400 crore at the beginning of the year, Managing Director and CEO K Swaminathan said. "As [...]

Glenmark Pharmaceuticals Ltd. is an integrated, research–led, global pharmaceutical company, with a presence across Branded, Generics, and OTC segments; with a focus on therapeutic areas of respiratory, dermatology and oncology. The company has 10 world-class manufacturing facilities spread across 4 continents, and operations in over 80 countries.  In Vivo/Scrip 100 positions Glenmark amongst the Top [...]

India's top provider of wind energy solutions is Inox Wind, which caters to IPPs, utilities, PSUs, corporations, and retail investors. With three cutting-edge production facilities in Gujarat, Himachal Pradesh, and Madhya Pradesh with a combined manufacturing capacity of 1,600 MW, Inox Wind is a fully integrated player in the wind energy market.  Wind energy solutions [...]

As part of the OFS, 53.7 lakh equity shares will be offloaded by Paritosh Kumar Garg (HUF) and up to 26.85 lakh equity shares by India Business Excellence Fund - III. Also,  the company may consider a pre-IPO placement of shares aggregating up to Rs 100 crore. If such placement is completed, the fresh issue [...]

The telecom services industry is expected to post moderate revenue growth of 7-9% in FY 24, due to muted average revenue per user (ARPU) expansion in the absence of tariff hikes in the near-term, ICRA said. The industry has been "upfronting" 5G capex (capital expenditure) and ICRA foresees sectoral capex at around Rs 70,000 crore [...]

Chennai-based TVS Motor Company and Germany's BMW Motorrad are in discussions to expand the manufacturing network beyond India under their long-term strategic partnership, the companies said on Wednesday.  In April 2013, the two firms had entered into a partnership to manufacture sub-500cc motorcycles for global markets. It resulted in the development of four products on [...]

Household products and stationery manufacturer Cello World Ltd has filed preliminary papers with capital market regulator SEBI to raise Rs 1,750 crore through an initial public offering (IPO). The maiden public issue is a complete offer for sale (OFS) by promoters and other selling shareholders with no fresh issue of equity share component, according to [...]

Coal India Ltd's capital expenditure rose 8.5 per cent during April-July this fiscal to Rs 4,700 crore as it continued to invest heavily in evacuation infrastructure, land, and mining machinery, officials said. The capex spend during the first four months of the current fiscal year which started in April, was almost 100 per cent of [...]

Mahindra & Mahindra expects electric vehicle production at its upcoming plant in Chakan in Maharashtra to hit the peak production mark of 2 lakh units per annum between 2027 and 2029, according to company President -Automotive Sector Veejay Nakra. The company estimates that EVs would account for 30 per cent of the overall volumes by [...]

Stainless steel flexible hose manufacturer Aeroflex Industries Ltd on Wednesday said it has a fixed price band of Rs 102-108 a share for its Rs 351-crore initial public offering (IPO). The maiden public issue will open for subscription on August 22 and conclude on August 24. The bidding for anchor investors will open on August [...]

Taiwanese electronics manufacturing giant Foxconn sees the potential of investing several billions of dollars in India if it gets to completely implement its plan, a top official of the company said. Hon Hai Technology Group (Foxconn) Chairman and CEO Young Liu during the company's second-quarter earnings call on Friday said that the company's Indian arm [...]

State-owned Punjab & Sind Bank plans to double its ATM network to about 1,600 in the next two years to increase its touch points and brand visibility. Besides, the bank also intends to open 50 more branches during the current financial year taking the total network beyond 1,600, Punjab & Sind Bank managing director Swarup [...]

Shares of Adani group firms fell on Monday after Deloitte resigned as auditor of the group's port company. Deloitte has resigned as auditor of the Adani group's port company, with the firm run by billionaire Gautam Adani saying the auditor wanted a wider remit over other companies in the conglomerate following the report of a [...]

The initial share sale of stainless steel flexible hose manufacturer Aeroflex Industries Ltd will open for public subscription on August 22. The initial public offering will conclude on August 24 and the bidding for anchor investors will open on August 21, according to the red herring prospectus (RHP). The IPO consists of a fresh issue [...]

On the 12th of November 1981, Ramkrishna Forgings Limited was established on a foundation of honesty and blazing ambition. The company provides goods and services to a variety of industries, including those in India and other countries as well as the automotive, railroad, farm equipment, bearings, oil & gas, power, and construction industries.  Home-grown Ramkrishna [...]

The largest automobile battery producer in India, Amara Raja Batteries Limited, exports to more than 50 countries and provides vehicle batteries to the aftermarket, the best original equipment manufacturers (OEM), and private labelling. Amara Raja Batteries Limited (ARBL) on Friday held the foundation stone laying ceremony of Amara Raja's advanced energy research and innovation centre [...]

In the global market for high-end speciality chemicals, Vikas Ecotech is a rising participant. The business is committed to meeting consumer needs and providing the globe with items that are technologically advanced and eco-friendly. Recycling player Vikas Ecotech Ltd (VEL) on Friday announced bagging a Rs 50-crore order for the supply of multiple materials including [...]

ITC Limited is a multinational with its main office in Kolkata. ITC is present in a variety of sectors, including FMCG, hotels, software, packaging, paperboards, speciality papers, and agro. 13 enterprises across 5 market areas make up the organization. It exports its goods to 90 different nations.  Diversified conglomerate ITC Limited on Friday said the [...]

Aditya Birla Group flagship Hindalco Industries, and Texmaco Rail & Engineering on Thursday entered into a strategic alliance and announced a Rs 200 crore investment to develop and manufacture aluminum rail wagons and coaches that will help the Railways achieve emission goals and boost operating efficiency.  The companies are identifying land in the Eastern region [...]

Fast moving consumer goods major Godrej Consumer Products Ltd will invest Rs 515 crore in Tamil Nadu to set up a manufacturing facility and signed a memorandum of understanding with the state government on Thursday. "We aspire to develop this factory as a lighthouse unit and strive to be among the first few factories in [...]

TVS Supply Chain Solutions, a part of TVS Mobility Group, is gearing up for the initial share sale that would be open for public subscription from August 10 onwards, officials said on Wednesday. The city-based company is hitting the capital market after a gap of nearly 29 years, Executive Vice-Chairman R Dinesh said. "I think [...]

TFarm equipment manufacturer VST Tillers Tractors Ltd, on Wednesday announced the launch of six compact tractors. The six new Series 9 models, in the range of 18HP to 36HP, were designed and developed at the company's Hosur plant. The company would launch three more higher HP tractors in September, its CEO, Antony Cherukara, said, adding [...]

Taylormade Renewables specializes in offering options for renewable energy. The company specializes in producing Solar Parabolic Concentrating Systems for thermal energy-intensive applications including direct or indirect heating, solar drying, solar wastewater evaporation, steam generation for steam cooking and other industrial uses, solar air conditioning, and solar space heating. Taylormade Renewables Ltd on Wednesday said it [...]

The Indian Air Force (IAF) is a manufacturer of sophisticated aerostructures. The corporation creates military transport aircraft through design, engineering, and development. Tata Lockheed Martin Aerostructures Ltd on Wednesday said it has achieved the milestone of delivering the 200th C-130J Super Hercules empennage. The company, a joint venture between Tata Advanced Systems Ltd (TASL) and [...]

The largest manufacturer of passenger cars in India is Maruti Suzuki India Limited (MSIL), a division of Suzuki Motor Corporation of Japan. Maruti Suzuki is credited with starting the nation's automotive revolution. The company operates an automobile manufacturing and sales operation in India.  Maruti Suzuki India on Wednesday said its pre-owned car business has crossed [...]

The venture capital and private equity division of Unilever is called Unilever Ventures. By granting access to Unilever's global ecosystem, assets, and knowledge, the company invests in new, promising businesses, boosting their growth. A company is looking for the Personal Care and Digital world-beaters of tomorrow. FMCG major Unilever's venture capital arm Unilever Ventures has [...]

GMR Airports Infrastructure Ltd on Tuesday said its board will consider raising funds of up to Rs 5,000 crore during the meeting on August 14. At the meeting, the board will also consider the company's unaudited financial results for the quarter ended June, according to a regulatory filing. The board will consider "raising of funds [...]

NTPC Renewable Energy Ltd on Tuesday emerged as the successful bidder for an 80-megawatt floating solar project at Khandwa in Madhya Pradesh. The energy generated from the project will be supplied to Madhya Pradesh discoms, NTPC said in a statement. NTPC Renewable Energy is a subsidiary of power producer NTPC. "The bidding was conducted on [...]

Capital markets regulator Sebi has suspended the registration of Mavji Haribhai Commodities for its involvement in illegal paired contracts on the now defunct National Spot Exchange Ltd (NSEL). By providing access for taking exposure to paired contracts, the broking firm's clients were exposed to the risk involved in trading in a product that did not [...]

One of India's leading integrated power businesses, Tata Power offers next-generation client Tata Power, one of India's top integrated power companies, provides clients with cutting-edge solutions including solar rooftops, EV charging stations, and home automation in addition to having a presence along the whole value chain of traditional and renewable energy. Tata Power has 12772 [...]

The Board of Control for Cricket in India (BCCI) has paid Rs 1,159 crore in income tax in the 2021-22 fiscal, 37 per cent higher than the previous year. In a written reply to a question in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary gave details of the income tax paid by [...]

IT major Tata Consultancy Services on Tuesday said it has bagged a contract from the government to redesign and build a new version of the public procurement platform Government e-Marketplace (GeM). The GeM platform provides an end-to-end online marketplace for the central and state government bodies, including public sector undertakings, for procurement of common-use goods [...]

State-run Bharat Electronics Limited has set a target of Rs 20,300 crore for financial year 2023-24 as demand for indigenous products is driving growth for the company, its Chairman and Managing Director Bhanu Prakash Srivastava said on Tuesday. He also stated the order book of the 'Navratna' PSU under the Ministry of Defence stands at [...]

The initial public offer of Concord Biotech was subscribed 2.03 times on the second day on Monday. Kotak Mahindra Capital Company, Citigroup Global Markets India and Jefferies India are the managers to the offer. The Rs 1,550.59-crore public offering received bids for 2,34,03,680 shares against 1,15,13,609 shares on offer, according to NSE data. The portion [...]

TVS Supply Chain Solutions, part of TVS Mobility Group, on Monday, said it has fixed a price band of Rs 187-197 per share for its Rs 880 crore Initial Public Offering (IPO). The initial share sale will be open for public subscription during August 10-14 and the bidding for anchor investors will open on August [...]

Sunsure Energy Sunsure Energy is one of India's largest C&I focused Renewable Energy Power Producers. Sunsure is backed by Partners Group AG with a $400 million equity investment for developing over 3 GW of RE assets by 2027. Founded in 2015, Sunsure has developed and installed solar power plants for power-intensive industrial customers across 16 [...]

In the global market for high-end speciality chemicals, Vikas Ecotech is a rising participant. The business is committed to meeting consumer needs and providing the globe with items that are technologically advanced and eco-friendly. Vikas Ecotech Limited (VEL) on Monday announced its foray into the conventional energy segment after receiving a Rs 20-crore coal supply [...]

At its facilities in Andhra Pradesh's Medak District and Chattisgarh's Bhilai, Vishnu Compounds pioneered the production of chrome compounds such as sodium dichromate, potassium dichromate, basic chromium sulphate, and yellow sodium sulphate over a 17-year period. Speciality chemicals maker Vishnu Chemicals Ltd on Monday said it has raised Rs 200 crore via qualified institutions placement [...]

Harmony Organics is a Pune-based company that manufactures Phenyl Ethyl Alcohol (PEA) and its aroma chemicals are used in the fragrance and flavour industry. The company's flagship products are PEA and Cinnamic Aldehyde, with an installed production capacity of 20,000 tonnes per year at its factory located in Pune.  Speciality chemicals company Harmony Organics on [...]

Multipurpose project Damodar Valley Corporation (DVC) has drawn up capital expenditure plans of around Rs 70,000 crore by 2030 to boost power generation capacity from 6,700 MW at present to 16,000 MW, its chairman R N Singh said on Friday. He said DVC will increase its coal-fired power generation capacity through brownfield expansion. It also [...]

The Finance Ministry has approved the upgradation of Oil India Ltd to the category of 'Maharatna', a move which will impart enhanced powers to the OIL board while taking financial decisions. ONGC Videsh is a wholly-owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC). To be eligible for the grant of [...]

SJVN is a public sector undertaking involved in power trading, thermal and hydroelectric power generation and transmission. State-owned SJVN Ltd has signed a trade agreement with Sikkim Urja Ltd for supply of 180 megawatt (MW) hydro power. As part of the agreement, power will be supplied to distribution licensees and open access consumers, SJVN said [...]

Brookfield India Real Estate Trust will garner Rs 400 crore by issuing units to sponsor group entity Project Diamond Holdings on preferential basis and also plans to raise up to Rs 750 crore through issue of commercial papers to finance acquisition of two commercial assets in Gurugram and Mumbai. Brookfield India REIT is among four [...]

The largest privately owned thermal power producer in India is Adani Power Limited (APL), which is a member of the diversified Adani Group. A 40 MW solar power project in Gujarat and 12,450 MW of thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, and Chhattisgarh make up the company's total power-producing capacity. Shares of Adani [...]

Honasa Consumer Ltd, which owns FMCG brands Mamaearth and The Derma Co, and healthcare tech firm Indegene Ltd have received markets regulator SEBI's clearance to raise funds through Initial Public Offerings (IPOs). Shares of these three companies will be listed on BSE and NSE. In addition, engineering, procurement and construction (EPC) firm Vishnu Prakash R [...]

PFCCL is the wholly-owned subsidiary of Power Finance Corporation (PFC), a non-banking financial company under the Ministry of Power. PFC Consulting Limited (PFCCL) has transferred two transmission projects to Apraava Energy Private Limited, and one project to Sterlite Power. The selection of the bidder was carried out through a Tariff Based Competitive Bidding (TBCB) process [...]

One of the fastest growing realty firms in India, Elan Group on Thursday said it has given a Rs 1,000 crore contract to Leighton India for the construction of its luxury housing project in Gurugram. Leighton India is the Indian arm of Leighton Asia, a member of the internationally renowned CIMIC Group, headquartered in Australia. [...]

LT foods had announced a step up in investments in new product development and related plant and raw material needs based expansion almost a year ago, tracing that path, LT has made significant progress. Ready to eat food now has grown to 2.5%. LT Foods on Thursday said its subsidiary Nature Bio Foods has started [...]

Zydus Lifesciences Ltd, is involved in development & manufacture of formulations, biosimilars, biologics, APIs and intermediates. Zydus LifeSciences has 10 manufacturing facilities in APC & Americas and 4 R&D sites of which 2 are in India. It is the 4th largest Pharma company in India and a growing presence in other emerging markets in Asia [...]

Capital markets regulator Sebi has cancelled the registration of MMTC Ltd as a stockbroker for its involvement in illegal "paired contracts" in a case pertaining to the now-defunct National Spot Exchange Ltd (NSEL). While cancelling the licence, Sebi directed MMTC to allow its existing clients to withdraw or transfer their securities or funds held by [...]

STL Ltd, a leading optical and digital solutions company, today, announced a partnership with a public sector entity. In this multi-year agreement, STL will design, build, commission, and maintain 2 data centre facilities, with service deployment across multiple network sites across India. Datacenter investments are expected to accrue benefits to companies to STL in the [...]

PNB Housing Finance expects a 22% growth in fresh loan sales this fiscal, according to a top executive. The company, promoted by Punjab National Bank, has an aggressive growth plan and has set an internal target of crossing the Rs 1 lakh crore-mark on the assets side in the next three to three-and-a-half years. In [...]

Mahindra & Mahindra on Thursday said Singapore's sovereign investment firm Temasek will invest Rs 1,200 crore in its four-wheeler passenger electric vehicles arm -- Mahindra Electric Automobile Ltd. Earlier this year M&M announced its plans to launch 16 EVs by FY2028 and that it expects a 15-20% CAGR by FY2025 consolidated basis. It stated its [...]

Ipca Laboratories announced yesterday that it has completed the acquisition of a 33.38% stake in Unichem for Rs 945.35 crore. Last week, Ipca got approval from the Competition Commission of India (CCI) for a 59.38% stake purchase in listed Unichem Laboratories. "Post receipt of approval of CCI, the company has acquired 2,35,01,440 fully paid-up equity [...]

A government-owned coal mining corporation is called Coal India Ltd. (CIL). It produces coal and items made from coal. Coking coal, semi-coking coal, non-coking coal, hard coal, washed and beneficiated coal, coal fines, heavy oil, and coke are among the company's product offerings. The business runs mixed mines, underground mines, and open-pit mines. Products from [...]

Tamil Nadu-based NLC, under the ministry, operates three opencast lignite mines with a total installed capacity of 30 million tonnes per annum (MTPA) at Neyveli, another opencast lignite mine at Barsingsar in Rajasthan with an installed capacity of 2.1 MTPA and an opencast coal mine at Talabira in Odisha with an installed capacity of 20 [...]

Glenmark was established with the goal of becoming a preeminent, fully integrated, international pharmaceutical firm. The company's branded generics division is well-established in emerging market markets like India. The generics industry serves the needs of developed markets like the United States and Western Europe. The company's API division sells its goods in more than 65 [...]

Sewage solution provider EMS Limited is in the business of providing sewerage solutions, water supply systems, water and waste treatment plants, and water supply scheme projects for government authorities, among others. EMS on Wednesday, said it currently has an order book of nearly Rs 1,500 crore and will focus on securing more government contracts that [...]

The Bengaluru-based Vistaar, founded by Brahmanand Hegde and Ramakrishna Nishtala in 2010, has so far funded over 2 lakh small businesses across 12 states since inception and has a loan book of Rs 3,100 crore. Vistaar has more than 40,000 customers. Its average ticket size is about Rs 10 lakh and it covers business and [...]

Brookfield India REIT is among four listed Real Estate Investment Trusts (REIT) on Indian stock exchanges. Its portfolio comprises five large campus format office parks located in Mumbai, Gurugram, Noida, and Kolkata. The portfolio consists of 18.7 million square feet comprising 14.3 million square feet of completed area, 0.6 million square feet of under construction [...]

Godrej Properties, which is part of business conglomerate Godrej Group, is one of the leading real estate firms in the country. It has a major presence in Mumbai-Metropolitan Region (MMR), Delhi-NCR, Pune and Bengaluru. Godrej Properties on Wednesday said its board has approved Rs 155 crore for repair work in its completed housing project 'Godrej [...]

CRED is a Bangalore based fintech company that offers short term credit lines and peer-to-peer payments service. CRED now extends the power of credit cards to a seamless, secure and rewarding UPI experience Bengaluru, Karnataka, India. CRED, in collaboration with NPCI has launched RuPay credit card-based UPI payments on CRED for members. CRED currently supports [...]

Stainless steel flexible hose manufacturer Aeroflex Industries Ltd has received capital markets regulator SEBI's go ahead to raise funds through an initial share-sale. The IPO consists of a fresh issue of equity shares worth up to Rs 160 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by promoter entities -- Sat [...]

Hero MotoCorp on Wednesday announced an increase in prices of the newly launched Harley-Davidson X440 by Rs 10,500 across all variants. The model was launched last month at an introductory price range of Rs 2.29 lakh to 2.69 lahks (ex-showroom). The Harley-Davidson X440 will now start from Rs 2,39,500 onwards (ex-showroom, Delhi). This price increase [...]

An entity on Thursday offloaded shares of Piramal Enterprises for Rs 575 crore through open market transactions. According to the block deal data available with the BSE, SmallCap World Fund Inc sold a total of 61,09,068 shares of Piramal Enterprises 17 tranches. The shares were disposed at an average price of Rs 941.15 apiece, taking [...]

Amara Raja Electronics Ltd on Thursday said it has acquired a stake in engineering design firm Design Alpha. The acquisition will position Amara Raja Electronics Ltd AREL as a fully integrated electronic systems design and manufacturing (ESDM) company, unlocking numerous opportunities in the electronics manufacturing business, the company said in a statement without disclosing the [...]

Billionaire Gautam Adani-led group's renewable energy firm on Thursday announced plans to raise Rs 12,300 crore through a share sale to investors as the group continues to build on a comeback strategy to emerge out of allegations of fraud levelled by a US short-seller. Adani Green Energy Ltd in a stock exchange filing said its [...]

The Indian Oil Corporation Limited (IOCL), Chennai, has committed to invest Rs 54,000 crore in various projects in Tamil Nadu in the next few years, including a 9 MMTPA (million metric tonnes per annum) grass-root refinery at an estimated cost of Rs 35,580 crore, its executive director and state head (TN & Puducherry) V C [...]

State-owned Punjab National Bank (PNB) on Thursday announced the launch of a virtual branch, PNB Metaverse. It is a virtual branch of the bank, which will deliver a unique experience of banking to existing and new customers who can now explore the bank’s products and services such as bank deposits, retail/MSME loans, digital products, women/senior [...]

Biocon Biologics on Wednesday said it has completed the integration of the acquired biosimilars business from Viatris Inc in over 70 countries in emerging markets effective July 1, 2023, increasing the scale and scope of its business. Following the deal closure in November 2022, this marks the first wave of countries where Viatris' operations have [...]

Small businesses-focused non-bank lender Veritas Finance on Wednesday announced raising Rs 1,200 crore from Multiples Private Equity and other investors. Multiples along with International Finance Corporation (IFC) have put in Rs 1,050 crore while Avendus Future Leaders Fund has deployed Rs 150 crore, according to a statement. The deal comprises a primary issuance of Rs [...]

State-owned Bank of India (BOI) on Wednesday paid the government a dividend of Rs 668.17 crore for the financial year 2022-23. BoI managing director Rajneesh Karnatak presented the dividend cheque to Finance Minister Nirmala Sitharaman in the presence of Vivek Joshi, Financial Services Secretary. The dividend of Rs 2 per equity share (20 per cent) [...]

Bajaj Auto and British motorcycle brand Triumph on Wednesday launched co-developed Triumph Speed 400 and Scrambler 400 X motorcycles in India. These motorcycles were unveiled globally in London last week. The two companies formed a global partnership in 2017. Triumph Speed 400 has been priced at Rs 2.33 lakh with the inaugural price of the [...]

Consumer demand in the domestic market remained 'steady' in the April-June quarter and the company expects 'robust performance with double-digit volume growth" in the organic business, Godrej Consumer Products Ltd said on Wednesday. The performance was broad-based with double-digit volume growth in home care and higher than mid-single-digit volume growth in personal care, the Godrej [...]

Private sector lender HDFC Bank on Wednesday said it has registered a 15.8 per cent rise in loans to Rs 16,15,500 crore in the first quarter of current fiscal year. The credit book was Rs 13,95,000 crore as of June 30 last year. Gross transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances [...]

Construction and hospitality firm PKH Ventures has withdrawn its initial share sale amid disappointing participation from investors, particularly from institutional buyers, over a three-day period. The initial share sale of PKH Ventures was subscribed just 65 per cent on the last day of subscription on Tuesday. The Initial Public Offering (IPO) received bids for 1,67,25,800 [...]

State-owned REC Ltd on Tuesday said it will provide a loan of Rs 4,785 crore to HRRL's project in Rajasthan. HRRL is a joint venture between Hindustan Petroleum Corporation Ltd (HPCL) and Rajasthan government. HPCL holds 74 per cent equity stake in HRRL. "REC extends Rs 4,785 crore for HPCL Rajasthan Refinery's project in Barmer. [...]

Realty firm Macrotech Developers on Tuesday reported a 17 per cent growth in its sales bookings at Rs 3,350 crore in the first quarter of this fiscal year, mainly on better housing demand. Macrotech Developers, which sells properties under Lodha brand, had sold properties worth Rs 2,860 in the year-ago period. In a regulatory filing, [...]

Contract manufacturing services firm Syngene International has inked a pact to buy a manufacturing unit from Stelis Biopharma for Rs 702 crore. The company has entered into a binding term sheet with Stelis to acquire its Bengaluru-based Unit 3 biologics manufacturing unit, Syngene said in a late night statement on Tuesday. The facility, which was [...]

B2B e-commerce company mjunction on Tuesday said SAIL has selected mjPRO, its e-procurement platform, for all its project procurements. mjPRO is a cloud-based platform that comes with wide configurability and addresses key concerns of organisations such as access to new and credible suppliers, analytics and insights for decision-making, convenience of usage and integration with ERP [...]

NINL, a 1.1-million tonne steel manufacturing unit in Odisha, has reached 100 per cent capacity utilisation within one year of its acquisition by Tata Steel. On July 4 2022, the steel major completed the acquisition of Neelachal Ispat Nigam Ltd (NINL) through subsidiary company Tata Steel Long Products Ltd (TSLPL) for a consideration of Rs [...]

Global enterprise software company Ramco Systems has appointed Sundar Subramanian as its chief executive officer, the company said on Tuesday. Prior to taking up the new responsibility, Subramanian was serving leading multinational information technology services and consulting companies. Ramco Systems chairman P R Venketrama Raja said, "...the appointment of Sundar Subramanian as the CEO will [...]

Krishna Kumar Thakur, a 1998-batch officer of Indian Railway Personnel Service (IRPS), has been appointed as a director on the board of BHEL, an official statement said. Prior to joining BHEL, Thakur was heading the human resources and administration function of Central Railway as Chief Personnel Officer, state-owned BHEL said in a statement. "On his [...]

Reliance ADA Group Chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) here and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. The industrialist and his wife Tina Ambani have been summoned again for a similar round of questioning later [...]

Torrent Power on Monday said it is working on a pilot project for blending green hydrogen with natural gas in the city gas distribution (CGD) network. The pilot project underway in Gorakhpur, Uttar Pradesh, is expected to complete in 8 months, the company said in a statement. "Torrent Power is implementing a green hydrogen pilot [...]

Semiconductor company Microchip has earmarked USD 300 million for investment in India spread over multiple years, a senior company official said on Monday. Microchip President and CEO Ganesh Moorthy said that the investment will be made in people, training and certain infrastructure like research and development centre, lab and equipment, and offices. "USD 300 million [...]

Power trading solutions provider PTC India Ltd has clocked 16 per cent growth in its power trading volumes during the first quarter of this fiscal and hopes for around 20 per cent rise in the entire 2023-24, driven by targeted segment wise trade and innovative products, according to CMD Rajib Kumar Mishra. PTC India's trading [...]

Reliance Retail-owned robotics firm Addverb expects to cross Rs 8,000-crore revenue mark in five years, with scaling up of manufacturing operations and diversifying target market base, a senior company official said. Addverb Technologies co-founder and CEO Sangeet Kumar told PTI that the company will invest Rs 500 crore in its Greater Noida-based robot manufacturing facility [...]

The Indian room air conditioner market is likely to reach USD 5 billion by FY28 with a compound annual growth rate (CAGR) of 10 per cent, according to Tata group firm Voltas. The company expects to be at the forefront of this growth. Voltas, an industry leader in the segment with a market share of [...]

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 [...]