Adani Power Ltd on Thursday said it has signed an agreement with MPSEZ Utilities Limited (MUL) for power supply. In a regulatory filing, Adani Power said the power supply agreement is for 15 years. "Adani Power has entered into a long-term power supply agreement (PSA) with MUL for 360 MW capacity to be supplied from [...]

HDFC Bank on Thursday said it has appointed Kaizad Bharucha as deputy managing director and Bhavesh Zaveri as executive director for three years. These appointments have been made after clearance from the Reserve Bank of India, HDFC Bank said in a regulatory filing. The RBI, in its communication dated April 19, 2023, has approved the [...]

To expand its presence in the fast-growing food market, Wipro Consumer Care and Lighting on Thursday announced the acquisition of Brahmins, a Kerala-based traditional vegetarian, spice mix and ready-to-cook brand. Part of Azim Premji-led Wipro Enterprises had forayed into the foods segment six months before with the acquisition of the Nirapara brand -- known for [...]

Oriana Power on Thursday announced commissioning of a one megawatt peak (MWp) floating solar power project in Rajasthan. The project has been commissioned for Udaipur Cement Works Limited (UCWL), a subsidiary of JK Lakshmi Cement, at its Dabok mine in the state. According to the company, the project will generate approximately 1.7 million units of [...]

Fortis Healthcare on Thursday said it has inked a pact with the VPS Group to acquire Manesar-based Medeor Hospital for Rs 225 crore. The healthcare major said it has signed definitive agreements to acquire Medeor Hospital for an overall purchase consideration of Rs 225 crore. The hospital has a potential capacity of 350 beds and [...]

Integrated power company Tata Power has partnered with the Coimbatore municipal corporation to install 20 public electric vehicle charging stations in the textile city, the company said on Thursday. With the installation of 20 public EV chargers, the total EV charging stations set up by Tata Power in Tamil Nadu would increase to 116. The [...]

Natco Pharma Ltd on Thursday said its board has approved setting up of a subsidiary in Indonesia with an investment of up to USD 3 million (nearly Rs 25 crore) for selling pharmaceutical products in that country. The new subsidiary -- PT. NATCO Lotus Farma -- will be a joint venture with Natco holding 51 [...]

Hospitality technology firm OYO on Thursday said it will add 50 new properties in Ayodhya in 2023 under a collaboration with Ayodhya Development Authority and Uttar Pradesh State Tourism Development Corporation. Out of the 50 new properties to be added in Ayodhya, about 25 will be homestays run by homeowners and 25 will be small [...]

Most of the stores of quick commerce player Blinkit have resumed operations after being affected by strike of delivery partners, according to a regulatory filing by Zomato. Blinkit, formerly known as Grofers India, was acquired last year by Zomato. Recently the operations of the platform were affected by the strike of delivery partners who were [...]

Billionaire Gautam Adani's Adani Ports and Special Economic Zone Limited (APSEZ) on Wednesday said its board will meet on Saturday to consider first and a partial buyback of certain of its debt securities, either denominated in rupee or US dollar in the current financial year. "... a meeting of the Board of Directors of Adani [...]

Tata Group has sought fair-trade regulator Competition Commission of India's (CCI) approval on the deal to merge its full-service carriers Vistara and Air India. Tata SIA Airlines Ltd (TSAL) is a joint venture between Tata Sons Pvt Ltd (TSPL) and Singapore Airlines (SIA), with Tata Sons and SIA having 51 per cent and 49 per [...]

HDFC Capital Advisors will increase its stake in proptech startup Loyalie IT Solutions (now renamed as Reloy) to up to 9.6 per cent from 7.2 per cent currently, amid surge in adoption of technologies in Indian real estate market. According to a regulatory filing on Wednesday, HDFC Capital Advisors will acquire 1.67 lakh compulsory convertible [...]

Private sector lender IndusInd Bank on Wednesday said it has entered into a USD 100 million long-term loan agreement with JBIC to facilitate Indian entities interested in buying Japanese construction equipment. The finance is being done through a special agreement signed with Japan Bank for International Cooperation (JBIC) by the lender's branch in the Gift [...]

Zydus Lifesciences Ltd on Wednesday said it has received final approval from the US health regulator to manufacture and market its generic Roflumilast tablets used in reducing inflammation in the lungs. The approval granted by the United States Food and Drug Administration (USFDA) is for manufacturing and marketing of Roflumilast tablets of strength 250 mcg, [...]

Cube Highways Trust (CHT) has raised USD 630 million from a clutch of investors including British Columbia Investment Management Corporation (BCI) and Abu Dhabi's sovereign investor Mubadala Investment Company (Mubadala). Cube Highways Fund Advisors Private Limited, the Investment Manager to InvIT, in a statement announced the listing of its fully subscribed privately placed ordinary units [...]

AU Small Finance Bank on Wednesday said it has received permission from Reserve Bank of India to deal in foreign exchange. Reserve Bank of India vide its letter dated April 19, 2023 has granted Licence to act as Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999 to deal in foreign exchange, AU Small [...]

Finolex Cables, a leading manufacturer of electrical and telecommunication cables, on Wednesday announced a Rs 200-crore capex to expand its manufacturing capacity this fiscal. The Pune-based company said the Rs 200-crore capex will be deployed over the next few months to enhance the manufacturing capabilities at its Urse plant near Pune. The plant serves the [...]

Drug maker Mankind Pharma on Wednesday said it has fixed a price band of Rs 1,026-1,080 a share for its Rs 4,326-crore initial public offering (IPO). The three-day initial public offering (IPO) will open for subscription during April 25-27, and the bidding for anchor investors will open on April 24, the company announced. The company's [...]

Adani Green Energy Ltd (AGEL) on Wednesday said it has received a recognition for conserving water against consumption. "AGEL has been certified Water Positive by DNV, an independent global assurance agency. The verification statement signifies that AGEL's water conservation is greater than consumption," a company statement said. DNV conducted qualitative and quantitative assessment of water [...]

Government-owned steel companies have cleared Rs 7,673.95 crore dues of various MSMEs during FY23, 39.3 per cent higher than Rs 5,511.07 crore paid during the preceding fiscal, the steel ministry said. "The status of pending payments to MSMEs by CPSEs (Central Public Sector Enterprises) of the ministry is being monitored on a weekly basis to [...]

RattanIndia Enterprises on Tuesday launched a wholly-owned subsidiary Neobrands, marking its entry into the fast-growing apparel fashion business. Neobrands will be a house of brands across multiple fashion categories, including everyday fashion, denim, athleisure and performance wear categories, a statement from RattanIndia Enterprises said. In the first phase, all these brands will be digital native [...]

Bay Capital Investment Advisors, an India-focused investment manager, is expecting to garner Rs 5,000 crore in AUM from its maiden equity, long-only, category III open-ended AIF, over the next five years. The fund would seek to generate long-term capital appreciation by investing in a diversified portfolio of up to 30 businesses across consumption, digitization, financialization, [...]

The board of the country's biggest lender State Bank of India (SBI) on Tuesday said it proposes to raise USD 2 billion (about Rs 16,000 crore) from bonds to fund its global operations. The board of the bank on Tuesday approved the proposal to raise fund in "single or multiple tranches up to USD 2 [...]

The board of state-owned Bank of India (BoI) on Tuesday approved plans to raise Rs 6,500 crore from various means, including share sale, to fund business growth in 2023-24. The proposal in this regard was cleared by the board in a meeting held on Tuesday, BoI said in a regulatory filing. The board considered and [...]

French cosmetic major L'Oreal on Tuesday announced a strategic investment in DSG Consumer Partners IV, the fourth fund of Singapore-based venture capital DSGCP, without disclosing the amount. DSG Consumer is focused on growing consumer brand startups across Southeast Asia and India. "Through this investment, L'Oreal will support early-stage entrepreneurs building the next generation of insurgent [...]

The Karnataka High Court has quashed the order of the National Company Law Tribunal (NCLT) that had passed an order allowing the operations of windmills on forest land in the state to a Mumbai-based company. The HC said the tribunal did not have jurisdiction over the matter of setting aside a government order. "The company [...]

Entertainment OTT player Netflix has slashed subscription rates in 116 countries following the success of its business model in India, the company said on Wednesday. Netflix has seen a 30 per cent growth in customer engagement and 24 per cent revenue growth year-on-year in India after it launched a low-priced subscription plan in the country [...]

Popular ice cream brand Baskin Robbins, operated by the Graviss Group, has planned to open about four to six parlours in the city every year and another 100 stores across the country this year, a top official said on Tuesday. The company currently has 16 parlours in Chennai. Witnessing a strong demand, the company has [...]

Co-working operator Awfis has taken on lease 1.74 lakh square feet of office space in Pune from realty firm Nyati Group amid rising demand for flexible workspace from corporates. In a statement, Awfis said it has entered into a strategic leasing partnership with realty firm Nyati Group to open new facilities in Pune. Through this [...]

Public sector Indian Bank has signed a memorandum of understanding with the Tamil Nadu e-Governance Agency, the city-headquartered bank said on Tuesday. The agreement is to integrate the Indian Bank Payment Aggregator platform with the e-Governance Applications of various departments in Tamil Nadu. "With this MoU, all government departments can avail plug and play platform [...]

The Singapore Exchange on Tuesday said NSE IFSC-SGX Connect at International Financial Service Center in GIFT City will become operational on July 3 after the transition of SGX Nifty derivatives to NSE IFSC. The move will enable investors to trade in dollar-denominated Nifty futures contracts available on the SGX in Gujarat International Finance Tec-City or [...]

Dubai-based aerial work platform rental firm Manlift Group has planned an additional investment of up to 25 million euros in India as it is eying massive expansion in the country over the next five years. Manlift India has been operational since 2010 and has already invested up to 70 million euros in the country by [...]

Jindal Stainless Ltd on Tuesday said it supplied 300 metric tonnes of stainless steel for 125-ft tall statue of B R Ambedkar in Telangana. On April 14, Telangana Chief Minister K Chandrasekhar Rao unveiled the 125-ft tall statue of Babasaheb in Hyderabad on the occasion of his 132nd birth anniversary. In a statement, the steel [...]

Diversified contract manufacturing company Aequs has secured USD 27.5 million (about Rs 225.50 crore) in funds from Amicus Capital and existing investors, a release said on Tuesday. Aequs said it plans to deploy the capital from the fundraise led by Amicus in ramping up its manufacturing capabilities to cater to both domestic and multinational OEM [...]

Social media platform Twitter will allow freedom of speech but not "freedom of reach" as it will restrict visibility of tweets that violate its rules, the company said in its policy update. Twitter will initially apply the visibility filter on tweets that are found violating hateful conduct rules and expand it to other domains later. [...]

The Mumbai-bench of National Company Law Tribunal (NCLT) has extended the deadline for completing the resolution process of Reliance Capital by three months to July 16 as lenders have agreed to hold a second round of auction to maximise their recovery. The earlier deadline of April 16 has already ended. The 90 days deadline extension [...]

Co-working major WeWork India has taken on lease 92,000 square feet office space in Pune from Panchshil Realty to expand its business. In a statement, WeWork India said it has signed a lease agreement for a new building 'Eleven West' in Pune. Located in Baner, the workspace spans over 92,000 square feet and marks WeWork [...]

The initial share sale of drug maker Mankind Pharma will open for public subscription on April 25. The three-day initial public offering (IPO) will conclude on April 27, and the bidding for anchor investors will open on April 24, according to the red herring prospectus (RHP). The company's IPO is entirely an offer for sale [...]

Indian Hotels Company Limited on Tuesday announced the signing of two new hotels in Dhaka, Bangladesh. The Taj and Vivanta branded hotels will be part of an integrated complex that will also include hi-end retail. These are greenfield projects. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL said, "We are delighted to debut in [...]

Sterling and Wilson Pvt Ltd has bagged three rural electrification orders worth Rs 1,080 crore. While one order is from Chhattisgarh State Power Distribution Company Ltd (CSPDCL) in Rajnandgaon district, Chhattisgarh, two others are from South Bihar Power Distribution Company Ltd (SBPDCL) in Nalanda (also covering districts in Nawada) and Gaya. The projects, aimed at [...]