SpiceJet has expressed satisfaction with the Supreme Court’s recent decision to dismiss an appeal filed by Kalanithi Maran, challenging a previous High Court ruling in favour of the airline. The High Court had overturned a single-judge order that mandated SpiceJet to pay a substantial sum to Maran as interest on an arbitral award. This latest …
Le Travenues Technology, better known as ixigo, debuted on the Indian stock exchanges in June 2024. The online travel platform’s IPO garnered interest for its growth potential in the booming travel sector. IPO Performance and Market Demand The issue size of ₹740.10 crore consisted of a fresh issue to raise capital and an Offer for …
Dr Reddy’s Laboratories announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) had issued a positive opinion recommending the approval of its biosimilar Rituximab candidate, DRL_RI (ITUXREDI®), for the European market. This positive CHMP opinion is a significant milestone for Dr Reddy’s, paving the way for the potential commercialisation …
Rajoo Engineers Limited, a leading plastic extrusion machine manufacturer in India, announced robust financial results for the quarter ended June 30, 2024 (Q1 FY25). Financial Highlights The company recorded a substantial 63.01% year-on-year (YoY) increase in revenue from operations to ₹50.87 crore. This growth was driven by a strong order book, with deliveries scheduled across …
Spandana Sphoorty Financial Limited announced its financial results for the quarter ended June 30, 2024 (Q1 FY25), reflecting a mix of strong growth and asset quality challenges. Operational Highlights Asset Under Management (AUM): Demonstrated robust growth, increasing by 32% year-on-year (YoY) to ₹11,723 crore. Disbursements and Customer Acquisition: The company added approximately 2 lakh new …
REC Limited, a ‘Maharatna’ company under the Ministry of Power, has applied to establish a subsidiary in Gujarat’s Gift City. This move will enable the company to start financing offshore projects. Vivek Kumar Dewangan, Chairman and Managing Director of REC Limited, mentioned in a recent interview following the company’s Q1 FY 2025 earnings release that …
DLF Ltd’s rental arm, DLF Cyber City Developers Ltd (DCCDL), reported an 11% increase in office rental income, reaching ₹942 crore in the first quarter of this fiscal year. This growth is attributed to higher demand for its premium office spaces. DCCDL is a joint venture between DLF and Singapore’s sovereign wealth fund, GIC, with …
Vikas Lifecare Limited has announced a significant update on the acquisition of Ebix Inc. On July 26, 2024, the consortium, led by Eraaya Lifespaces Limited, remitted USD 14 million (approximately ₹117 crore), bringing the total payments made to date to USD 35.75 million (approximately ₹299 crore). The company stated that an additional USD 6.60 million …
Cosmic CRF Ltd recently announced significant new orders through a stock exchange filing, highlighting a robust demand for its products within the Indian rail industry. The company has secured contracts from 3 distinct Wagon Manufacturing Companies and 6 divisions of Indian Railways, collectively valued at ~₹2,560.41 lakh (inclusive of GST). Order Details First Order Gross …
Multi Commodity Exchange of India Limited (MCX) announced in a stock exchange filing that its Board of Directors, during a meeting on July 27, 2024, approved further investment in its associate company, India International Bullion Holding IFSC Ltd (IIBH). MCX will subscribe to the Rights Issue of 20 crore equity shares at ₹1 each, totalling …
