On August 20, 2024, Hi-Tech Pipes Ltd announced the successful procurement of orders totalling ₹105 crore (inclusive of GST) for supplying ERW steel pipes to major players in the renewable energy sector. The company stated that this significant achievement underscores the rising demand for sustainable energy solutions and highlights Hi-Tech Pipes’ commitment to supporting the …
Motilal Oswal Financial Services Limited has established itself as a trusted name in the financial services industry in India. With a strong focus on research and customer service, the company has built a loyal client base over the years. Their diverse range of products and services cater to the needs of both individual investors and …
Anil Dhirubhai Ambani Ventures Pvt. Ltd. (ADAVPL), a firm owned by Anil Ambani, has sought intervention from the National Company Law Tribunal (NCLT) in Mumbai as the company is asking the court to prevent IndusInd International Holdings Ltd. (IIHL), owned by the Hinduja Group, from using the ‘Reliance’ brand name once the resolution plan for …
Bank of Baroda has emerged as the preferred lender for a significant ₹5,000 crore loan deal with Steel Authority of India Limited (SAIL), a state-owned steelmaker. BoB’s competitive bid of 7.49% for a five-year loan, linked to the 364-day treasury bill, secured the deal over other major public and private sector banks. Key Highlights Bank of …
Indian banks are increasingly turning to market instruments to bolster their balance sheets, with borrowings surging past ₹9 lakh crore. This unprecedented rise has caught the attention of regulators, primarily driven by the widening gap between credit growth and deposit mobilisation. Data from the Reserve Bank of India (RBI) reveals that banks’ borrowings climbed 20% …
Bajaj Auto Limited has announced that it will need to increase its provision for deferred tax by Rs 211 crore due to recent changes in tax regulations pertaining to long-term capital gains on debt mutual funds. The company’s investments in debt mutual funds have resulted in fair value gains, which are subject to deferred tax …
Aurobindo Pharma, a Hyderabad-based pharmaceutical player, stated that it is set to begin production at its new China facility in the upcoming quarter. According to the company’s Chief Financial Officer, Santhanam Subramanian, full-scale operations are expected in the next fiscal year. The plant, located in China, is anticipated to commence a small volume rollout between …
ONGC Videsh, the international arm of the Oil and Natural Gas Corporation (ONGC), has achieved significant milestones. Vietnamese authorities have granted crucial extensions for its oil and gas operations in the region. The company has secured a 16-year extension for oil and gas production in Block 06.1 and a three-year extension for exploration in Block …
Zodiac Energy Limited, a prominent player in the renewable energy sector with over 30 years of expertise, announced its unaudited financial results for the quarter ended June 30, 2024. The company reported a significant rise in Total Income to ₹79.59 crore in Q1 FY25, marking a 144.56% increase from ₹32.54 crore in Q1 FY24. EBITDA …
Allcargo Logistics Limited, one of the key players in the global logistics industry, recently released its International Supply Chain Solutions (ISC) operational update for July 2024. The update showcases steady growth in both Less than Container Load (LCL) and Full Container Load (FCL) operations. In July 2024, LCL operations recorded a volume of 8,18,000 cubic …
