Techno Electric & Engineering Company (TEEC) announced the successful acquisition of M/s. NERES XVI Power Transmission Limited (NERES XVI PTL) on May 30, 2024. This strategic move significantly bolsters TEEC’s presence in the Indian power transmission sector. Competitive Bidding Secures Project Following a rigorous and transparent process, TEEC emerged as the winning bidder for the …
On June 3, 2024, Punjab National Bank (PNB) and India Infrastructure Finance Company Ltd (IIFCL) signed an agreement to offer long-term financial assistance to viable infrastructure projects. This collaboration aims to jointly fund infrastructure projects through a consortium or multiple lending arrangements, with both parties participating, pending thorough due diligence on a case-by-case basis. The …
On June 3, 2024, Aurigene Pharmaceutical Services Limited (“Aurigene”), a Dr. Reddy’s Laboratories Limited subsidiary, inaugurated a 70,000 sq. ft. biologics facility in Genome Valley, Hyderabad, India. The facility will support customers with the process, analytical development, and small-scale manufacturing of antibodies and other recombinant proteins for preclinical and early-phase clinical trials. While the process …
Mahan Energen Limited owns and operates a thermal power plant. The Company generates, transmits, and distributes electricity through coal. Mahan Energen serves customers in India. The company is a subsidiary of the Adani group power company, Adani Power. Mahan Energen to merge with Staratech Mineral The Adani Group’s Mahan Energen Ltd. has announced its decision …
Sapphire Foods is one of the largest franchisees of Yum! Brands Inc. in the subcontinent, and operates more than 400 KFC, Pizza Hut, and Taco Bell restaurants across India, Sri Lanka, and the Maldives. The underperforming Pizza Hut, KFC operator is considering a stock split. Sapphire Foods Ltd. to consider on June 19 Sapphire Foods …
Indian benchmark indices faced significant selling pressure, plunging around 3% amidst heightened volatility due to uncertainty surrounding the outcome of the Lok Sabha elections. Broader indices also dropped around 4% each, reflecting bearish investor sentiment. The FMCG, healthcare, and information technology sectors were the least affected. At 10:55 am, the BSE Sensex plunged 3.86% reaching …
On Tuesday, the benchmark indices were trading in the red with the Sensex down around 2,876 points or 3.75% at 73,671, while the Nifty-50 was down around 760 points or 3.27% at 22,505. About 612 shares have advanced; 2,894 declined and 124 are unchanged on the BSE. Top gainers and losers on the BSE Sensex …
The financial health of a company is often gauged by various metrics, among which the debt-to-equity ratio is a critical indicator. High debt levels can be a double-edged sword; while they can fuel growth, they also carry significant risks. This article analyses the performance of companies with the highest debt-to-equity ratios, examining their sales, profit, …
Inox Wind Limited (IWL), a leading Indian wind energy solutions provider, announced a strategic move to strengthen its financial position and fuel future growth. This decision follows a board meeting held on May 31, 2024, where the Board of Directors approved the raising of funds for the company. Capital Infusion via Share Issuance Subject to …
Nifty Bank’s Historic Milestone Nifty Bank surged by 4.09% on Monday, reaching an all-time high of 51,133. This significant milestone marks the first time the index has crossed the 51,000 mark, with the previous close being 48,983.95. The index comprises both private and state-run lenders, reflecting the sector’s overall health and performance. Key Drivers of …
