The Indian government has abruptly halted its planned ₹30,000 crore equity infusion into state-owned oil giants Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL). This reversal comes on the heels of a record-breaking fiscal year for these companies, which collectively amassed a staggering ₹81,000 crore in profits. Initially proposed in …
Linde India, formerly known as BOC India, operates in the industrial, medical, and special gases sector. The company underwent a name change following its acquisition by Germany-based Linde AG in 2006, the global merger between Linde AG and Praxair Inc. in 2018 led to the formation of Linde Plc, with Linde India and Praxair India …
Indian Energy Exchange Limited (IEX) announced robust financial results for the quarter ended June 30, 2024 (Q1 FY25), marked by record-breaking power demand and increased trading volumes. Trading Volume and Revenue Surge The exchange witnessed a significant 21.1% year-on-year (YoY) growth in total trading volume, reaching 30.4 billion units (BUs). This surge was driven by …
The State Bank of India was founded on July 1, 1955, and has been successfully operating for the past 69 years. It has 22,219 branches and 62,617 ATMs in India, along with 229 branches in 31 countries internationally. The State Bank of India (SBI) has signed a non-binding Memorandum of Understanding with the UK’s Foreign, …
Dish TV India Ltd. has announced plans to raise Rs.1,000 crore through the issuance of various securities. The company has not yet finalized the method for raising capital but is considering a range of options including equity shares, convertible bonds, debentures, warrants, preference shares, and foreign currency convertible bonds. These could be issued through preferential …
Radhakishan S. Damani, the founder of DMart, made a major move yesterday by divesting a stake worth Rs.142 crore in VST Industries Ltd. The sale was executed through open market transactions by two of his investment arms. Derive Trading and Resorts Pvt. sold a 1.7% stake, translating to 2.62 lakh shares, at Rs.4,102 per share, …
Lemon Tree Hotels has announced the signing of its latest property, Keys Prima by Lemon Tree Hotels, in Kota. Managed by Carnations Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited, the hotel is slated to open in FY 2025. Kota, located along the Chambal River in Rajasthan, is a city renowned for …
According to people with knowledge of the situation, the foreign portfolio investor, acting through Maple II BV, has suggested selling Rs. 4.78 crore shares at a floor price of at least Rs. 226 each, less 5%. This transaction is valued at Rs 1,081 crore. IIFL Securities Ltd. has been appointed as the exclusive broker for …
Ramkrishna Forgings Limited announced on July 24, 2024, its decision to acquire Resortes Libertad S.A. DE C.V., based in Mexico. This strategic move marks a significant step in the company’s global expansion strategy. Strategic Rationale The acquisition is aimed at establishing machining facilities in Mexico. A 10-year take-or-pay agreement with a North American customer, valued …
The full-service and integrated diagnostic chain Suraksha Diagnostic Limited has filed the Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float an Initial Public Offering (IPO). Suraksha Diagnostic IPO is entirely an offer-for sale comprising 1,91,89,330 equity shares of face value ₹2 each. Suraksha Diagnostic has …
