In her budget speech on July 23, 2024, Finance Minister Nirmala Sitharaman highlighted the importance of recycling by announcing the Critical Mineral Mission. This initiative will focus on domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets. The mission will cover technology development, skilled workforce training, EPR frameworks, and suitable financing …
Organic Recycling Systems Limited (ORS) has announced a strategic investment in Sonu Infratech Limited (Sonu) through the acquisition of convertible warrants. This move is aimed at enhancing ORS’s ability to compete in large-scale projects that require significant resources, which ORS cannot manage independently. Sonu Infratech Limited operates in the construction sector, specialising in mechanical and …
About Development MIC Electronics Limited has announced a significant breakthrough in railway technology with the development of a cutting-edge GPS (Global Positioning System) based Public Address System (PA), Passenger Information System (PIS) (“PAPIS”), and LED Destination boards. Designed to enhance passenger experience and railway operations, this innovative system is compatible with both new and existing …
Adani Power Limited (APL) has announced a significant development in a recent stock exchange filing. The company has acquired 10,000 equity shares of Mirzapur Thermal Energy (UP) Private Limited (MTEUPL), which represents 0.025% of MTEUPL’s total equity. As a result of this acquisition, MTEUPL has become a wholly-owned subsidiary of APL. MTEUPL, incorporated on December …
On July 24, 2024, Fischer Medical Ventures Ltd, formerly Fischer Chemic Limited, announced that it is expanding its investment in Health Digital Technologies (HDT). They join existing investors like Samsung Ventures and Malaysia’s Khazanah, through MTDC. This investment aims to extend HDT’s teleconsultation and e-prescription service, DoctorOnCall, beyond Malaysia. Overview of DoctorOnCall’s Services and Reach …
About Project Adani Renewable Energy Forty-One Limited, a wholly-owned subsidiary of Adani Green Energy Limited, has announced a significant milestone in its renewable energy portfolio with the operationalization of a 250 MW wind power project at Khavda, Kutchh, Gujarat. This achievement is highlighted by the incorporation of India’s largest and one of the world’s most …
Tata Consumer Products Limited (TCPL) unveiled a significant capital-raising initiative through a rights issue on July 23, 2024. This strategic move, announced via a stock exchange filing, aims to generate up to ₹3,000 crore (approximately USD 370 million) to bolster the company’s growth and expansion plans. Key Details of the Rights Issue Target Amount: ₹2,997.77 …
Reliance Industries Ltd., India’s largest privately owned refiner, has received approval from the U.S. to resume importing crude oil from Venezuela, marking a huge development amid ongoing White House sanctions. This decision enables Reliance to restart purchasing Venezuelan crude, a move that carries major geopolitical and economic implications. Background & Regulatory Changes Last year, Washington …
The proposed $8.5 billion merger of Indian media assets between Reliance Industries and Walt Disney is facing heightened scrutiny from the Competition Commission of India (CCI). This intense review underscores concerns about the deal’s potential impact on competition within the Indian entertainment landscape. Barrage of Questions The CCI has bombarded both companies with nearly 100 …
Sundaram-Clayton Limited, a diversified Indian conglomerate, announced a strategic expansion on July 23, 2024, with the incorporation of a wholly-owned subsidiary named “SCL Properties Private Limited” (SCLPPL). This move signifies the company’s foray into the promising data centre and IT services sector. Wholly-Owned Subsidiary Strengthens Strategic Position Sundaram-Clayton has fully subscribed to SCLPPL’s equity shares, …
