The Central Board of Direct Taxes (CBDT) has taken a significant step towards modernising the Indian tax system by awarding the Taxnet 2.0 project to Bharti Airtel Ltd. This project aims to overhaul the Income Tax Department’s (ITD) existing digital infrastructure by providing a robust and secure platform for taxpayers and departmental users. A Leap …
On July 20, 2024, Netweb Technologies India Limited (Netweb), a leading Indian-origin OEM specialising in High-End Computing Solutions (HCS), announced its Q1 FY25 results. Key Financial Highlights: Q1 FY25 Total Income: ₹1,532 million, a 154.4% increase from Q1 FY24. EBITDA: ₹239 million, up 164.1% from Q1 FY24, with an EBITDA margin of 15.6%. PAT (Profit …
On July 20, 2024, Poonawalla Fincorp Limited, a key non-deposit-taking NBFC specialising in consumer and MSME finance, released its unaudited financial results for the quarter ending June 30, 2024. The company showed steady growth in assets under management (AUM) and profitability and maintained high asset quality and strong customer engagement. Poonawalla Fincorp Limited Q1 FY25 …
Rail Vikas Nigam Ltd (RVNL) surged 9% amid a correction in the market on July 19, after the railway RVNL said it has signed a Memorandum of Understanding (MoU) with Israeli firm United Construction Limited to support each other to get the projects in the field of Railways, MRTS, Tunnels, Roads (Highways & Expressways), Bridges, …
JSW Infrastructure Ltd. has taken significant steps to enhance its iron ore transportation capabilities by approving the purchase of an under-construction slurry pipeline from JSW Utkal Ltd. The acquisition, valued at Rs 1,700 crore, comes alongside a strategic 20-year take-or-pay agreement with JSW Steel This move aims to bolster the company’s logistics solutions for iron …
Introduction to SEPC SEPC (Shriram EPC Ltd until February 2021) was incorporated in June 2000. Since September 2022, Mark AB has become its majority stakeholder following an infusion of Rs 350 crore. SEPC specializes in executing EPC (Engineering, Procurement, and Construction) contracts, providing integrated solutions encompassing design, engineering, procurement, construction, and project management services in …
On July 22, 2024, Coal India Limited (CIL) announced via a stock exchange filing that it had made its first move into domestic critical minerals by winning the bid for the Khattali Chotti graphite block in Madhya Pradesh. This was part of the second tranche of auctions held by the Ministry of Mines on July …
Zydus Lifesciences Limited (Zydus) has achieved a significant milestone by securing marketing approval for its Bevacizumab biosimilar, Bhava™, from the Mexican regulatory authority, COFEPRIS (Federal Commission for the Protection Against Sanitary Risk). This approval marks Zydus’ continued commitment to providing patients worldwide with access to high-quality, affordable biosimilar treatments. Bhava™ will be available in two …
Fineotex Chemical Limited (Fineotex), a leading specialty chemical manufacturer, has successfully raised ₹342.5 crores through a preferential allotment of equity shares and convertible warrants. This strategic move strengthens the company’s financial position and fuels future growth. Multi-Phased Fundraising The fund-raising was executed in two distinct phases: Phase I: Equity Allotment: 9,70,000 shares issued at ₹346 …
JSW Energy, a leading Indian power company, announced 2 significant developments on July 22, 2024, that solidify their commitment to renewable energy and position them for substantial growth. 300 MW Solar Project in Karnataka: JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy, received a Letter of Award (LoA) from Karnataka Renewable Energy Development …
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