LTIMindtree has secured an interim stay from the Karnataka High Court on a writ petition challenging a GST order related to a refund of input tax credit. The company is contesting a demand of ₹879 million, including tax, penalty, and interest. Case Details of Tax Dispute The company informed the stock exchanges that it had …
On December 18, 2024, Ambuja Cements’ share price (NSE: AMBUJACEM) traded 0.19% lower, at ₹570 as of 10:40 AM on the NSE. The stock opened at ₹577, higher than the previous close of ₹571.10. Meanwhile, Sanghi Industries’ share price dropped 11% to ₹68.31 on the NSE in opening trade. Ambuja Cements has revealed plans to merge its …
Aditya Birla Real Estate Ltd. announced that its wholly-owned subsidiary, Birla Estates Private Ltd., has successfully acquired a 70.92-acre land parcel in Boisar, Maharashtra, for ₹104.3 crore. This acquisition, revealed in a regulatory filing on December 17, 2024, marks a significant investment in the company’s real estate sector. Aditya Birla Estates Q2 FY25 Financials Aditya …
Federal Bank announced a strategic partnership with Ecofy, India’s pioneering green-focused NBFC, to address a critical challenge faced by MSMEs: affordable financing for commercial rooftop solar installations. This collaboration aims to empower MSMEs to transition to renewable energy while contributing to India’s ambitious climate goals. At 2:20 PM on December 18, 2024, shares of Federal …
Mukka Proteins Limited announced the successful disinvestment of its entire stake in MSFI (Bangladesh) Limited, an associate company. The transaction, valued at USD 14,038.44 (approximately ₹11,82,739), marks the conclusion of its strategic exit from the venture. With this, MSFI (Bangladesh) Limited has ceased to be an associate company of Mukka Proteins. This development follows earlier …
Indian Oil Corporation (IOC), India’s largest refiner and fuel retailer, is planning to raise ₹15,000 crore in long-term debt by March 2025 to fund its capital expenditure of ₹35,000 crore for the fiscal year. Anuj Jain, Director of Finance stated that around 30% of this amount, approximately $500 million to $1 billion, is expected to …
On December 17, 2024, Exide Industries Limited (EIL) announced an equity investment of ₹99.99 crore in its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL). This latest funding increases EIL’s total equity investment in EESL to ₹3,152.24 crore, with no change in its shareholding percentage. The investment is part of EESL’s ongoing greenfield project in Bengaluru, …
The retail market in India experiences a significant boost during the festival season, with consumer spending reaching new heights. Festivals like Diwali, Durga Puja, and Christmas drive substantial demand across various segments, including apparel, electronics, home goods, and luxury items. Retailers often offer attractive discounts, promotions, and festive collections to capture consumer interest, leading to …
In a significant corporate development, Chennai Petroleum Corporation Limited (CPCL) has nominated Shri Arvinder Singh Sahney, Chairman of Indian Oil Corporation Limited (IOCL), as the Part-Time Chairman of its Board. The announcement, made in compliance with SEBI regulations, underlines CPCL’s commitment to enhancing its strategic leadership with experienced industry veterans. Appointment Details The Ministry of …
The food delivery market in India has witnessed a dramatic shift with the advent of rapid food delivery services. What was once a novelty is now becoming the norm, with established players and new entrants vying for dominance. Ola, a major player in the mobility space, has reintroduced its brand “Ola Dash” to provide 10-minute …
