On August 03, 2024, the Bank of India announced its financial results for the June 30, 2024 quarter. Bank of India Ltd experienced significant growth in its global business, with a 12.34% year-over-year (YoY) increase. Global deposits rose by 9.74% YoY, while global advances saw a 15.82% YoY increase. Retail credit surged by 20.46% YoY, …
On August 04, 2024, Shalby Hospital announced the opening of the Shalby Orthopedics Centre of Excellence in Rajkot. This specialised orthopaedic hospital, with 25 beds, aims to transform healthcare in Rajkot and the Saurashtra region. The Shalby Orthopedics Centre of Excellence strives to provide medical services that surpass international standards, focusing on the world’s best …
On August 03, 2024, Ambuja Cements Limited, part of the Adani Group, announced its first project in Bihar, marking the largest investment in the state by a cement company. The Warisaliganj Cement Grinding Unit will be built in 3 phases with a total capacity of 6 million tonnes per annum (MTPA) and an investment of …
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has sanctioned a significant investment in a hydropower project in Nepal. This development marks a critical step in enhancing India’s collaboration with its neighbors in renewable energy. Major Investment in Lower Arun Hydroelectric Project The 669-megawatt Lower Arun hydroelectric project, located downstream of …
Samvardhana Motherson International Ltd (SAMIL) has announced a significant acquisition that will enhance its stake in Motherson Auto Solutions Ltd (MASL). This strategic move is set to consolidate SAMIL’s position in the auto components sector, reinforcing its growth trajectory. Strategic Acquisition Details On August 2, 2024, the Board of Directors of Samvardhana Motherson International Ltd …
Power Mech Projects Limited is one of the leading infrastructure construction companies based in Hyderabad, India, with a global presence and a strong reputation for providing a wide range of services in the power and infrastructure sectors. In 1999, S. Kishore Babu, an enthusiastic entrepreneur in the engineering field, founded the company with the core …
Tube Investments of India Ltd. (TIIL) has a strong presence in the Indian market and is known for its high-quality products and innovative technology. The company’s diverse product portfolio caters to a wide range of industries, including automotive, industrial, and fitness. With a focus on sustainability and customer satisfaction, TIIL continues to expand its offerings …
Infosys Ltd. has received partial relief as the Directorate General of GST Intelligence (DGGI) withdrew its tax demand of Rs.3,898 crore for FY18. According to the reports, this decision follows the Centre’s intent to resolve the ongoing tax dispute swiftly. Background of the Tax Dispute The tax dispute began when Karnataka GST officials issued a …
In a formal ceremony, CIL chairman P. M. Prasad received the dividend from BCCL chairman and managing director Samiran Dutta. On August 1, during BCCL’s 53rd Annual General Meeting, shareholders approved the dividend payment. Dutta credited the company’s steady growth rate of 15 percent over the past few years for its solid financial performance and …
In a crucial auction, Omkara Asset Reconstruction Company (ARC) has emerged as the winning bidder to acquire non-performing assets (NPAs) worth Rs.6,151.16 crore from the Stressed Asset Stabilisation Fund (SASF) of the erstwhile Industrial Development Bank of India (IDBI), according to the reports. This sale translates to a recovery of 10.5% for IDBI Bank, positively …
