Latest News on Corporate Actions

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, [...]

BLS International Services is planning to invest Rs 2,000 crore over the next three years in the domestic and international markets, its Joint MD Shikhar Aggarwal has said. BLS International Services provides numerous tech-enabled services to governments and individuals in various geographies. "We have plans to invest over Rs 2,000 crore in domestic and global [...]

A Kotak Mahindra Bank arm on Tuesday announced a Rs 450 crore investment in automobile components company Viney Corporation and its promoter Brijesh Aggarwal. As part of the deal, Kotak Strategic Situations India Fund II, which is managed by Kotak Investment Advisors, has helped Aggarwal acquire a majority stake in the company, clean up the [...]

Electronic manufacturing services firm Cyient DLM Ltd announced that it has mobilised Rs 260 crore from anchor investors. The company has allocated 97.98 lakh equity shares to 20 funds at an average price of Rs 265, according to a BSE circular. Amansa Holdings, Societe Generale, BNP Paribas, Catamaran Ekam are among the anchor investors. In [...]

The merger of housing finance major HDFC with the country's largest private lender HDFC Bank will be effective from July 1, HDFC Chairman Deepak Parekh said on Tuesday. The boards of HDFC and the private bank will meet on June 30 post to clear and approve the merger, Parekh told reporters here. The merger of [...]

Amara Raja Infra Pvt Ltd (ARIPL), part of the USD 1.75 billion Amara Raja Group, has accomplished a significant achievement by securing a new solar project worth USD 130 million in Bangladesh. A press release from Amara Raja said the venture serves as ARIPL’s entry into the international solar market, marking a new milestone for [...]

IT major Infosys has bagged a digital transformation deal from Denmark-based Danske Bank estimated to be around USD 454 million for five years, the company said on Monday. As part of the strategic collaboration with Danske Bank, Infosys will acquire Danske Bank's IT centre in India, which employs 1400 digitally skilled professionals "Danske Bank, a [...]

City Union Bank on Monday said it will raise Rs 500 crore through the Qualified Institutional Placement (QIP) route to fund business growth. The board of directors at a meeting approved raising of further capital through the QIP route to the tune of Rs 500 crore, City Union Bank said in a regulatory filing. The [...]

Adani Power Ltd (APL) has started exporting power to Bangladesh from its 1,600 MW ultra-supercritical power project in Jharkhand. In a regulator filing on Monday, the company said Unit 2 of 800 MW capacity of its 2x800 MW ultra-supercritical power project of its wholly-owned subsidiary Adani Power (Jharkhand) Ltd (APJL) has achieved commercial operations at [...]

IT company L&T Technology Services on Monday said it has partnered with state-owned Bharat Sanchar Nigam Limited (BSNL) for the deployment of private 5G network for enterprise customers. According to the agreement framework signed by both companies, the spectrum will be provided by BSNL using both PLMN (public land mobile network) and isolated allotment. L&T [...]

Axis Bank on Monday said it will continue to grow 4-6 per cent faster than the industry in the medium to long term, helped by focus on rural and semi-urban markets, improving digital infrastructure and Citibank India retail business. Fiscal year 2023 was a breakout year for digital banking platform Axis 2.0 and the early [...]

India's largest software exporter TCS has won the contract for running and maintaining the government procurement portal GeM, Commerce and Industry Minister Piyush Goyal said on Monday. The Government e-Market (GeM) portal was launched on August 9, 2016, by the commerce ministry for online purchases of goods and services by all the central government ministries [...]

PTC India Financial Services (PFS), a subsidiary of PTC India, has appointed Mahendra Lodha as Director (Finance) and CFO, the company said in a regulatory filing. PTC India Financial Services is a finance company and systematically important non-deposit-taking NBFC. It is an Infrastructure Finance Company, classified by the RBI and listed on the NSE and [...]

IT services and solutions provider Synoptics Technologies on Monday said it has fixed a price of Rs 237 a share for its initial offer sale, which will open on June 30. The initial public offering (IPO) will conclude on July 5. The minimum application size is 600 shares and multiples thereafter. Its shares will be [...]

Construction and hospitality firm PKH Ventures on Monday said it has fixed a price band of Rs 140-148 a share for its initial share sale, which will open for public subscription on June 30. The initial public offering (IPO) will conclude on July 4, the company announced. The public issue comprises a fresh issue of [...]

The Chief Executive Officer of Bharti Airtel's enterprise arm Airtel Business, Ajay Chitkara, has resigned from the company, according to a filing. Following the resignation, Bharti Airtel has restructured leadership in the enterprise arm by dividing it into three segments. "Ajay Chitkara, CEO Airtel Business, has decided to move on from Airtel. He will continue [...]

New Delhi: India’s leading EV charger manufacturer Servotech Power Systems Limited showcased its extensive range of EV DC fast chargers during the Electric Vehicle Innovation Summit in Abu Dhabi. Servotech participated in this 3-day-long summit in association with its distribution and marketing partner in the Middle East, Al Ansari Motors. This opportunity will help Servotech [...]

Discount brokerage firm 5paisa Capital on Thursday said it has appointed former Google executive Narayan Gangadhar as Chief Executive Officer with immediate effect. Gangadhar has over two decades of experience, mostly with global technology companies like Google, Uber and Amazon. He is a Bachelor of Engineering from Mumbai University and a Master in Computer Science [...]

A Delhi consumer forum has directed the SBI Cards & Payments Services Pvt. Ltd. to pay Rs 2 lakh to a person here for sending him bill even after his card's expiry and blacklisting him for non-payment of the charges. The New Delhi District Consumer Disputes Redressal Forum comprising its president Monika A Srivastava and [...]

Auto components maker Pricol Ltd on Thursday said it has moved the Madras High Court challenging the validity of the application of rival Minda Corporation to the Competition Commission of India to acquire a 24.5 per cent stake in it. Minda Corporation had earlier this month decided to approach the CCI to increase its stake [...]

BSNL has started rolling out of 4G network with 200 sites, and after a three-month trial, it will launch an average of 200 sites per day, Union IT and Communications Minister Ashwini Vaishnaw said on Wednesday. The minister said the 4G network of BSNL will be upgraded to 5G by November-December. "The 4G-5G telecom stack [...]

State-owned Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and deposit growth in percentage terms during 2022-23. The Pune-headquartered lender also recorded highest growth in profitability with bottomline growing almost 126 per cent to Rs 2,602 crore during the year. However, all the 12 public [...]

Adani Group-owned ACC and Ambuja Cement have launched a Cement and Concrete Research & Development facility at Kalamboli, Navi Mumbai. The newly established R&D facility will help Ambuja and ACC drive progress, enhance cost optimization, and create sustainable solutions to shape the future of the cement industry, said a statement. A focus on new product [...]

Cement manufacturer The India Cements Ltd was in discussions with interested parties and "on the verge" of monetising its assets in Tamil Nadu, part of the proceeds of which would go towards reducing its total debt by Rs 500 crore, a top official said on Wednesday. The company's Vice-Chairman and Managing Director N Srinivasan said [...]

Market value of investments made by state-owned Life Insurance Corporation of India (LIC) in seven companies of the Adani group has swelled to Rs 44,670 crore as stock prices rose from the lows seen in the aftermath of the Hindenburg report. The country's largest insurer and leading institutional investor in the Adani group has seen [...]

JSW Ventures on Wednesday said it has sold a part of its holding in e-commerce firm Purplle to Abu Dhabi Investment Authority (ADIA). "The partial exit in Purplle has generated 18x return on the capital invested," JSW Ventures said in a statement. The company, however, did not disclose any financial details of the transaction. In [...]

Dish TV on Tuesday proposed to appoint Manoj Dobhal as the new CEO of the company as incumbent Anil Dua has decided to quit the direct-to-home company. Dobhal is the current Chief Operating Officer (COO) of the company. Dish TV is embroiled in a tussle between its largest shareholder Yes Bank Ltd (YBL) and the [...]

Adani Green Energy on Tuesday said that its board meeting scheduled for May 24 to has been cancelled due to non-availability of directors. The board meeting to consider fundraising proposals has been cancelled for the second time this month. The company in a filing stated that on account of the non-availability of Directors, the meeting [...]

India's second-largest IT services company Infosys on Tuesday launched Topaz, an AI-first set of services, solutions and platforms using generative Artificial Intelligence technologies, and said the 'responsible by design' approach ensures uncompromising ethics, trust, privacy, security and compliance. Topaz leverages Infosys applied AI framework to build an AI-first core that empowers people to deliver cognitive [...]

Pharma major Venus Remedies on Tuesday said it has secured a good manufacturing practices (GMP) certification from Kenya for all its production facilities at Baddi, in Himachal Pradesh. The Pharmacy and Poisons Board (PPB) of the Kenyan Health Ministry granted the certification following a rigorous audit of the company's production facilities in Baddi, a company [...]

Kalpataru Power Transmission Ltd (KPTL) on Tuesday announced changing its name to Kalpataru Projects International Ltd. The name was changed after the receipt of approvals from shareholders and regulatory authorities including Ministry of Corporate Affairs, a company statement said. The name change is effective from May 22, 2023 and the company will henceforth operate under [...]

JSW Steel on Monday said NCLT-Mumbai has approved Rs 621-crore resolution plan submitted by its subsidiary JSW Steel Coated Products Ltd (JSWSCPL) for debt-laden National Steel and Agro Industries Ltd (NSAIL). "We now inform you that the written order of NCLT approving the resolution plan has been received," JSW Steel said in a BSE filing. [...]

GQG Partners on Monday acquired shares of hospital chain Max Healthcare Institute for Rs 415 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), GQG Partners Emerging Markets Equity Fund bought 75,50,000 lakh shares of the firm. The shares were purchased at an average price [...]

Odisha Chief Minister Naveen Patnaik on Monday inaugurated ITC's integrated consumer goods manufacturing and logistics facility at Khurda. Congratulating ITC CMD Sanjeev Puri, Patnaik urged him to expand the company's footprint in the state. He reiterated the state government's commitment to making Odisha the next industrial hub in the country. The Industrial Policy Resolution (IPR) [...]

East Pipes Integrated Company for Industry (EPIC), an associate company of homegrown Welspun Corp Ltd (WCL), has secured an order worth SAR (Saudi riyal) 1.8 billion from Saudi Aramco. "This is one of the single largest orders for EPIC from Saudi Aramco and represents the major share of the first package of the Master Gas [...]

JSW Steel and JFE Steel have signed an agreement to set up a JV company to manufacture the entire range of cold rolled grain-oriented electrical steel (CRGO) products at Vijaynagar in Karnataka. In 2021, JSW Steel and Japan's JFE Steel signed a memorandum of understanding (MoU) to conduct a joint feasibility study to establish a [...]

Tata Consultancy Services has expanded its partnership with Google Cloud for generative AI offerings, the company said on Monday. Under the partnership, TCS will leverage Google Cloud's generative AI services to design and deploy custom-tailored business solutions for the clients. "Our launch partnership with Google Cloud on generative AI enables us to rapidly create value [...]

Reliance Power has made a Rs 1,200 crore one-time settlement (OTS) proposal to the lenders of its subsidiary Vidarbha Industries Power Ltd (VIPL) to settle its debt, sources aware of the matter said. As per the proposal, the company has offered to pay around Rs 1,200 crore in upfront cash to the lenders which include [...]

India's flagship overseas oil firm ONGC Videsh has got a new partner in Oil India Ltd to replace a reluctant IndianOil (IOC) for the potential acquisition of a 50 per cent stake in Tullow Oil Plc's USD 3.4 billion oilfield project in Kenya, according to people with knowledge of the matter. But the OVL-OIL duo [...]

Larsen & Toubro (L&T) on Monday said it has bagged large orders worth over Rs 2,500 crore in the domestic and offshore markets. The power transmission & distribution (PT&D) business of its arm Larsen & Toubro Construction has secured large orders to be set up on engineering, procurement and construction (EPC) basis, it said in [...]

Renewable energy solutions provider Suzlon has bagged a 204 MW wind energy project from Serentica Renewables. "Suzlon Group has bagged a significantly large order for its 3 MW series of wind turbines from Serentica Renewables - a decarbonization platform that seeks to accelerate the energy transition for energy-intensive industries," a company statement said. The company, [...]

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 [...]

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, [...]

Analytics and AI solutions company Course5 Intelligence on Thursday said it closed a fundraise of USD 28 million, about Rs 231 crore, from 360 ONE Asset Management, formerly known as IIFL Asset Management Limited. The fundraise is part of its ongoing USD 55 million, about Rs 455 crore, funding round. "Course5 Intelligence announced today that [...]

Godrej Agrovet's Oil Palm Business on Thursday said it has partnered with the State Bank of India (SBI) to offer loans to oil palm farmers for setting up micro irrigation facility and install fencing to protect crops from cattle and improvement of tube well at their oil palm farms. Introduced with an objective of aiding [...]

Jubilant FoodWorks Ltd (JFL), the master franchisee for Domino's Pizza and Dunkin, on Thursday said it is not in the race to acquire Restaurant Brands Asia Ltd, formerly known as Burger King India Ltd. The leading Quick Service Restaurant (QSR) chain operator said it "strongly refutes" any information appearing about a deal speculating it to [...]

Payments and financial services company Paytm on Thursday announced that it has partnered with SBI Card to launch Paytm SBI Card on the RuPay network. The Paytm and SBI Card partnership, which began in 2020, is now expanding with the addition of National Payments Corporation of India's RuPay, as all three home-grown brands join forces [...]

Media firm New Delhi Television Ltd (NDTV), now owned by Adani group, on Thursday said it plans to launch nine news channels in different Indian languages in phases. The board of the company, at its meeting held on Thursday, has "approved a proposal to seek the permission of the Ministry of Information & Broadcasting for [...]

JSW Steel on Wednesday said it has been declared as the preferred bidder for an unexplored iron ore mine in Maharashtra. The company will take all requisite steps as per the tender document to obtain letter of intent, all statutory clearances to execute the lease deed with mine development and production agreement (MDPA) and start [...]

State-run hydro power giant NHPC on Wednesday said that it has received a letter of intent to build a 200 MW solar power project worth Rs 1007.60 from Gujarat Urja Vikas Nigam. "Gujarat Urja Vikas Nigam Ltd (GUVNL) had issued a Letter of Intent dated 16.05.2023 to NHPC Limited for 200 MW capacity Solar Power [...]

The lenders of debt-ridden Future Retail Ltd (FRL) have received six bids from prospective buyers by May 15, which was the last date for submission of resolution plans. The company is "in receipt of resolution plans/bids from 6 prospective resolution applicants in response to the Request for Resolution Plans" said the regulatory filing by FRL [...]

Capital markets regulator Sebi on Wednesday levied fines totalling Rs 50 lakh on ten entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. In ten separate orders, the regulator imposed a fine of Rs 5 lakh each on Auroplus Marketing Pvt Ltd, Baba Iron Industries, Atlantic Invest Advisory, Avinash V [...]

Electronics manufacturing services company Optiemus Electronics is actively considering and evaluating options to participate in the Rs 17,000-crore incentive scheme approved by the Cabinet to boost local production of laptops, tablets and computing devices, a senior company official said on Wednesday. Optiemus Electronics Limited Managing Director A Gururaj said that additional financial outlay for IT [...]

Renewable energy solution provider Suzlon has bagged a 99-MW wind energy project from Vibrant Energy. "Suzlon Group has received an order from Vibrant Energy for 33 wind turbine generators featuring its new 3 MW (each) series with a Hybrid Lattice Tubular tower for a 99 MW wind power project which is expected to be commissioned [...]

IT major TCS and Intellect Design Arena are in the race for a contract for the development of an advanced version of public procurement portal GeM, sources said. The government invited tenders for new GeM (Government e-marketplace) portal development work in February-March this year and after scrutiny of the bids, TCS and Intellect Design Arena [...]

Indian Hotels Company Ltd (IHCL) on Tuesday announced the signing of a 400-key Taj branded hotel at Indira Gandhi International Airport's Terminal 3 in New Delhi in partnership with Chalet Airport Hotel. The 400-key hotel will be situated adjacent to the Indira Gandhi International Airport's Terminal 3, an integrated terminal used for both international and [...]

Competition Commission on Friday opened an inquiry into alleged non-compliance with the order passed by the regulator in October last year with respect to Play Store policies, according to a source. The watchdog has issued a show cause notice with specific questions and has asked the internet major to submit its response in four weeks. [...]

TP Saurya has signed a power purchase agreement with Tata Power Trading Company Ltd (TPTCL) to set up a 200 MW solar project at Bikaner in Rajasthan. TP Saurya Ltd (TPSL) is a subsidiary of Tata Power Renewable Energy Limited (TPREL), which is an arm of Tata Power. With the latest win, the total renewable [...]

Shares of Adani Total Gas and Adani Transmission fell in morning trade on Friday after MSCI announced that the two companies will move out of the MSCI India Index with effect from May 31. The stock of Adani Total Gas tumbled 5 per cent to Rs 812.60 -- its lower circuit limit -- on the [...]

State-owned Oil and Natural Gas Corporation (ONGC) has discovered crude oil and natural gas in two blocks in Mumbai offshore, the company said on Thursday without giving details of reserves found. The discoveries, which have been named 'Amrit' and 'Moonga', were made in the blocks that the company won in recent open acreage licensing rounds. [...]

The initial public offering (IPO) of Nexus Select Trust, the first REIT backed by rent-yielding retail real estate assets, was subscribed 5.45 times on the last day of subscription on Thursday. The Rs 3,200-crore share sale received bids for 101.03 crore units against 18.52 crore units on offer, according to an update available with the NSE. [...]

German retailer METRO AG on Thursday announced the completion of the sale of its Indian cash & Carry business to Reliance Retail Ventures Ltd (RRVL), which holds the retail empire of Reliance Industries Ltd. The deal includes all 31 wholesale stores operated by METRO Cash & Carry India and the entire real estate portfolio (6 [...]

Billionaire Gautam Adani's conglomerate is looking to raise USD 2-2.5 billion through an equity share sale in the boldest comeback strategy after the ports-to-energy conglomerate was rocked by allegations of fraud levelled by a US short seller. Boards of two group companies will meet on May 13 to consider fundraising, according to stock exchange filings. [...]

There are a lot of business opportunities for startups in the domestic mining sector where production worth around USD 7 billion happens annually, Mines Secretary Vivek Bharadwaj said on Thursday. The sector faces several technological challenges, and the startups can explore these issues as a business opportunity for them, the official said while addressing the [...]

Electrification and automation major ABB India on Thursday announced the expansion of its facility at Peenya factory in Bengaluru by setting up a new line for the production of variable speed drive modules. Variable speed drive modules are used to control the speed of electric motors to match the actual demands of the process to [...]

Budget carrier SpiceJet on Thursday said it has no plans to file for insolvency proceedings and has also started the process of reviving its grounded fleet with USD 50 million. The statement from SpiceJet comes at a time when a lessor has filed an insolvency resolution plea against the airline and crisis-hit rival Go First [...]

State-owned Hindustan Copper on Thursday said it plans to raise around Rs 548 crore through various financial routes. A proposal in this regard will be taken up at the company's board meeting next week on May 19, 2023. In a regulatory filing, the company said its board will consider the "recommendation for seeking approval of [...]

Apollo Tyres is bullish on India, which is performing better than the rest of the world, and the company is making the country its export hub as it looks to expand further in the US and the Middle East, according to company's vice chairman and managing director Neeraj Kanwar. The Indian tyre major, which has [...]

Cummins Inc, promoter of Automotive Axles Ltd, has settled with markets regulator Sebi a case pertaining to alleged violation of open offer lapses, after paying Rs 91.22 lakh as settlement charges. The order came after the applicant (Cummins Inc) filed a settlement application for proposing to settle by neither 'admitting nor denying the guilt'. "The [...]

In a major relief for crisis-hit Go First, the National Company Law Tribunal (NCLT) on Wednesday admitted its plea for voluntary insolvency resolution proceedings and declared a moratorium under the insolvency law. The ruling means that lessors are barred from taking back aircraft and creditors are restrained from taking coercive action. The tribunal's ruling, which [...]

Billionaire Gautam Adani's group on Tuesday said it will prepay USD 130 million of debt as it looks to boost investor confidence post being targeted by a US short-seller. Adani Ports and Special Economic Zone, the ports company of the Adani Group, had last month floated a tender to buy back as much as USD [...]

Fitch on Tuesday affirmed India's sovereign rating at 'BBB-' with a stable outlook, on robust growth and resilient external finances, but said weak public finances remain a challenge. India's rating has been unchanged at 'BBB-', which is the lowest investment grade, since August 2006. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) [...]

Shares of Mankind Pharma made a remarkable debut on the stock exchanges on Tuesday, listing with a premium of over 20 per cent against the issue price of Rs 1,080. The stock began the trade at Rs 1,300, up 20.37 per cent on the BSE. It further zoomed 24.53 per cent to Rs 1,366. At [...]

Pharma major Venus Remedies Ltd on Tuesday said it has further consolidated its position in the oncology space with marketing authorisation from Philippines and Iraq for two more widely used cancer drugs. While Venus Remedies has secured marketing approval for bleomycin from Philippines, the second largest market in the Association of Southeast Asian Nations (ASEAN) [...]

Godrej Properties expects 14 per cent growth in sale bookings this fiscal to a record Rs 14,000 crore on strong housing demand, a top company official said. In an interview with PTI, Godrej Executive Chairman Pirojsha Godrej highlighted that the company's performance in 2022-23 was very strong on all important metrics like sale bookings, cash collections from [...]

Tyre maker CEAT expects recovery in its international business and replacement market, which are more profitable segments, going forward, according to company Vice Chairman Anant Goenka. With raw material prices remaining stable, the company is expecting "double digit plus margins" going forward. "The international business or export segment has faced a little bit of headwinds [...]

TPG Capital-backed wires and cables manufacturer RR Kabel Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 225 crore and an offer for sale (OFS) of over 1.72 crore equity shares by [...]

K P Energy Ltd on Monday announced the commissioning of a 29.4 mega watt (MW) wind energy project in Gujarat. The capacity is a part of the 250.8 MW ISTS connected wind power project capacity awarded by Solar Energy Corporation of India Limited (SECI) under Tranche-VIII bidding, the company said in a regulatory filing. "In [...]

Power trading solution provider PTC India has inked a long-term power purchase agreement with VS Lignite Power for 115 MW of electricity supply. PTC India executed a long-term power purchase agreement (PPA) for 115 MW with VS Lignite Power Pvt. Ltd, a company statement said. VS Lignite operates a 135-MW lignite-fired power plant in Bikaner [...]

State-owned SJVN Ltd has bagged 100 MW solar power project worth Rs 600 crore from Rajasthan Urja Vikas Nigam Ltd. SJVN Green Energy Ltd (SGEL), a wholly-owned subsidiary of SJVN, participated in an open competitive tariff bidding process followed by e-Reverse Auction (e-RA) organised by Rajasthan Urja Vikas Nigam Ltd (RUVNL). Nand Lal Sharma, Chairman [...]

Blackstone-sponsored Nexus Select Trust, which will soon launch Rs 3,200 crore retail REIT public issue, has acquired 17 shopping malls in the last seven years and will further expand portfolio through inorganic route as it remain bullish about retail consumption. Nexus Select Trust will hit the capital market on May 9 to raise up to [...]

Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday said it has concluded the Myanmar Port sale for a total consideration of USD 30 million. In May 2022, APSEZ had announced signing of a Share Purchase Agreement (SPA) for the sale of its Myanmar Port. The SPA had certain Condition Precedents (CPs), including completion [...]

Indian Energy Exchange (IEX) on Thursday said its total trade volume increased by 6 per cent on a yearly basis to 7,928 million units (MU) in April. In a statement, the power trading exchange said "it achieved 7,928 MU overall volume in April 2023, including green market trade of 280 MU, 1.99 lac RECs (equivalent [...]

State-run Central Bank of India on Wednesday said it has an outstanding exposure of Rs 1,305 crore to cash-strapped airline Go First as on March 31. The Wadia group-owned airline's plea for initiation of insolvency proceedings was mentioned before NCLT's Delhi bench-headed by president Justice Ramalingam Sudhakar and the bench agreed to an urgent hearing [...]

TVS Supply Chain Solutions, part of TVS Mobility Group, has re-filed draft IPO papers with capital markets regulator Sebi and cut the fresh issuance size to Rs 750 crore from Rs 2,000 crore planned earlier. The company, which got approval from Sebi in May 2022 to float the initial public offering (IPO), did not launch [...]

Tata group owned Air India on Wednesday announced entering into an interline pact with Vistara. An interline arrangement refers to a pact to issue and accept tickets for flights that are operated by the partner airline. When selling an interline ticket, the operating airlines own flight numbers are used. The partnership allows Air India's passengers [...]

Fincare Small Finance Bank Ltd has refiled its preliminary IPO papers with market regulator Sebi after updating documents on financial earnings for fiscal 2022-23. This came after the Securities and Exchange Board of India (Sebi) returned the small finance draft IPO (Initial Public Offering) papers on March 3 and asked the company to refile the [...]

Airtel Payments Bank on Tuesday said it has collaborated with the National Payments Corporation of India (NPCI) to roll out face authentication for the Aadhaar-enabled Payment System at its 5 lakh banking points. Airtel Payments Bank is among the first four banks to offer face authentication for AePS (Aadhaar-enabled Payment System). "We are delighted to [...]