National Aluminium Company (NALCO) has issued a Mining Lease deed with the State Government of Odisha, on 13 June 2024. The lease covers over 697 hectares of Bauxite Mines in Pottangi Tehsil, Koraput District, projecting a mine life of 32 years. The mines have an annual production capacity of 3.5 Million tonnes and have reserves …
Suraksha Group invested ₹125 crore in Jaypee Infratech Limited (JIL), providing hope to over 20,000 homebuyers who had invested in halted projects. Equity Infusion to Accelerate Construction This investment, made in the form of promoter’s equity, signifies a critical step towards expediting construction work on unfinished projects. Suraksha Group, which emerged as the successful bidder …
A recent stakeholder meeting hosted by the Petroleum and Natural Gas Regulatory Board (PNGRB) regarding draft regulations for petroleum product pipeline tariffs sparked debate among oil marketing companies (OMCs). Reliance Opposes Annual Escalation Reliance Industries, a major player in the Indian oil and gas sector, stated its disapproval of the proposed annual escalation of 3.4% …
Tata Consumer Products Ltd (TCPL) intends to evolve into a comprehensive, Fast-Moving Consumer Goods (FMCG) entity, announcing plans to venture into new product categories. The company has substantially increased its capital expenditure to ₹785 crore for FY 2025, primarily toward establishing a new facility in Vietnam. During the annual general meeting, Chairman N Chandrasekaran, who …
On June 13, 2024, Zaggle Prepaid Ocean Services Limited (Zaggle) entered into an agreement with Skydo Technologies Private Limited. Under this service agreement, Skydo Technologies will provide cross-border payment capabilities to Zaggle’s corporate customers. The contract, awarded by a domestic entity, will begin on June 13, 2024, and will continue until terminated based on mutually …
Suzlon Energy, a leading Indian wind turbine manufacturer, recently sent shockwaves through the market with the resignation of an independent director, Marc Desaedeleer. Citing concerns about the company’s corporate governance practices, Desaedeleer’s departure raises questions for investors: Is this a significant issue, or is it only a temporary glitch? What Happened? In his resignation letter, …
Signatureglobal (India) Limited (SGIL), a leading real estate developer, announced key developments that are strengthening its market position. Strategic Land Acquisition On June 13, 2024, SGIL’s wholly-owned subsidiary, Sternal Buildcon Private Limited, executed a sale deed to acquire approximately 3.80625 acres of land in Sector 37D, Gurugram. Strategically located on Dwarka Expressway near Village Harsaru, …
On June 13, 2024, Suven Pharmaceuticals Limited announced that it had signed definitive agreements to acquire 100% of Sapala Organics Private Limited, a contract development and manufacturing organisation (CDMO) based in Hyderabad that specialises in oligo drugs and nucleic acid building blocks. The acquisition will occur in stages, starting with an initial 67.5% purchase through …
Zee Media Corporation Limited (Zee Media) announced a strategic expansion into the burgeoning spirituality and wellbeing market through the incorporation of a wholly-owned subsidiary (WOS). This move signifies Zee Media’s commitment to content diversification and catering to a growing global audience. Tapping into a Lucrative Market The decision to establish a dedicated subsidiary reflects Zee …
On June 13, 2024, Bartronics India Limited announced in a stock exchange filing the renewal of its current contract on a financial inclusion project with Aryavart Bank for an additional one year. This agreement marks a significant milestone in the company’s efforts to deliver business correspondent services and promote financial inclusion in rural areas. They …
