In a move to boost its coal sales volume, Coal India Limited (CIL) has relaxed restrictions on coal supplies to thermal power plants, including independent power plants (IPPs). Previously, CIL allowed supplies up to 120% of the Annual Contracted Quantity (ACQ) to power plants with fuel supply agreements (FSA) containing such a provision. This new …
In a significant development, the Mumbai bench of the National Company Law Tribunal (NCLT) has approved the acquisition of SKS Power Generation (Chattisgarh) Ltd by BSE-listed Sarda Energy & Minerals. The division bench, comprising judicial member Kishore Vemulapalli and technical member Anu Jagmohan Singh, gave its nod to Sarda Energy & Minerals‘ resolution plan in …
Shalby Limited, a leading multispecialty hospital chain in India, has announced a strategic partnership with Monogram Technologies Inc., a pioneer in AI-driven orthopaedic surgery robotics. The collaboration will focus on conducting a multicenter clinical trial in India to evaluate the safety and effectiveness of Monogram’s mBȏs TKA System, a precision robotic surgical system designed for …
Black Box Limited announced its unaudited financial results for the quarter ended June 30, 2024 (Q1 FY2025). Revenue and Order Book Declining Revenue: Revenue dipped 9% YoY to 1,423 crore due to decision-making delays and project execution setbacks. Strong Pipeline and Order Book: Despite these challenges, the company’s pipeline remains robust, with the order book …
On August 13, 2024, Vedanta announced that its board had approved the sale of up to 11 crore shares, or 2.6% of its stake, in Hindustan Zinc through an offer for sale (OFS). “We wish to inform you that the duly authorised Committee of Directors of Vedanta Limited, at its meeting held today on August …
Indus Towers Limited, a major player in India’s telecom infrastructure sector, will start its share buyback program on August 14, 2024. The company plans to repurchase up to 56.77 million shares at ₹465 each, with the buyback closing on August 21, 2024. As of 12:55 p.m. on August 13, Indus Towers’ share price was down …
On August 13, 2024, Max Financial Services Limited reported a consolidated revenue of ₹7,709 crore for Q1 FY25, marking a 21% increase, largely due to higher investment income. Excluding investment income, the revenue stood at ₹5,235 crore, up 11% year-on-year. Max Life Insurance Company Ltd. (Max Life) saw its New Business Premium (including individual and …
On August 13, Hero MotoCorp, the world’s leading manufacturer of motorcycles and scooters, announced solid financial results for the first quarter of FY 2024-25, covering April to June 2024. Hero MotoCorp’s revenue from operations surpassed ₹10,000 crore for the first time, reaching ₹10,144 crore in the first quarter, up from ₹8,767 crore last year, marking …
Lemon Tree Hotels Limited has announced its latest venture with the signing of Keys Select by Lemon Tree Hotels in Varanasi, set to open in FY 2028. This new property will be franchised by Lemon Tree Hotels and marks a significant addition to their expanding portfolio. Varanasi, also known as Banaras or Kashi, is one …
Satin Creditcare Network Limited (SCNL) has announced the formation of a new wholly-owned subsidiary, Satin Technologies Limited (STL). Leveraging its expertise in technology, SCNL is strategically positioning itself at the cutting edge of innovation in financial services and beyond. The company stated that Satin Technologies will function as an independent entity, providing it with the …
