Samvardhana Motherson International Ltd, formerly known as Motherson Sumi Systems Limited, is a prominent player in the global automotive supply chain. Established in 1986 as a joint venture with Sumitomo Wiring Systems, the company has grown into one of the world’s leading specialised automotive component manufacturers for Original Equipment Manufacturers (OEMs). SAMIL, listed on the …
RVNL announced a significant new contract win from Central Railway, marking another milestone in its extensive portfolio of railway infrastructure projects. The company received a Letter of Acceptance (LoA) for an overhead modification work project aimed at upgrading the existing 1 x 25 kV electric traction system. Traction System Upgrade to Enhance Capacity The project …
The US drug regulator conducted a pre-approval inspection of Piramal Pharma’s PPDS Ahmedabad facility for three days, from July 10, 2024, to July 12, 2024. The United States Food and Drug Administration (USFDA) inspection was completed with zero Form 483 observations and no action-indicated designation. Tanya Sanish, Company Secretary, informed the exchange that the successful …
Reserve Bank of India (RBI) Governor Shaktikanta Das expressed concerns about the widening gap between credit and deposit growth as household savings increasingly shift away from traditional deposits. He urged banks to adopt new strategies to attract deposits and manage liquidity risks effectively. Das noted that households, which traditionally relied on banks for saving and …
Shares of railway companies surged over 15% in a week on the BSE amid heavy trading volumes, outperforming a sluggish market. Over the last 5 days, these stocks have seen gains of up to 20%, driven by a positive business outlook. Companies like Rail Vikas Nigam (RVNL), Indian Railway Finance Corporation (IRFC), IRCON International, and …
Adani Wilmar (AWL), a leading player in India’s food and FMCG sector, has taken a significant step towards diversifying its portfolio by acquiring a majority stake in Omkar Chemical Industries Private Limited (OCIPL). This strategic move, announced on July 11, 2024, positions AWL to gain a strong foothold in the burgeoning speciality chemicals market. Strategic …
Mirae Asset Mutual Fund will acquire 9.95% paid-up share capital or voting rights in the Utkarsh Small Finance Bank within a year from the date of approval from RBI, the bank said in an exchange filing on Thursday. Mirae Asset Mutual Fund has a footprint not only in India but also a global presence in …
GTPL Hathway Limited, India’s leading Digital Cable TV and Broadband service provider, announced positive financial results for the quarter ending June 30, 2024 (Q1FY25). The company demonstrated consistent growth across key metrics, showcasing a robust business performance. Financial Highlights Revenue: GTPL Hathway reported a total revenue of ₹8,506 million in Q1FY25, reflecting a 4% growth …
Prakash Industries Limited announced in a stock exchange filing that the Ministry of Environment, Forest and Climate Change, Government of India, has granted Final/Stage-II approval for the Bhaskarpara Commercial Coal Mine in Chhattisgarh, following the In-principle Stage-I approval received on August 21, 2023. The company stated that the Permission to Establish has already been obtained …
Tata Elxsi Limited announced the inauguration of the Tata Elxsi + NI Mobility Innovation Centre (TENMIC) in Bengaluru. In a stock exchange filing, the company stated that this state-of-the-art facility is designed to accelerate automotive innovation through advanced systems, software solutions, and global automotive expertise. The launch event was led by Manoj Raghavan, MD and …
