Patel Engineering Limited, in consortium with a joint venture partner, has been awarded a significant contract valued at ₹317.60 crore by the Office of the Executive Engineer, Government of Maharashtra. The project entails the construction of a water-lifting arrangement for the initial phase of the Jigaon project, which has been submerged. The scope of work …
Manali Petrochemicals Limited (MPL), a leading petrochemical manufacturer and a subsidiary of AM International, Singapore, has announced its financial results for the quarter ended June 30, 2024. The company recorded a consolidated total income of ₹246 crore and a profit after tax of ₹13 crore for the quarter, compared to ₹262 crore and ₹1.30 crore …
On August 5, 2024, Thomas Cook (India) Limited announced that it has decided to invest an additional ₹6,00,000 in its wholly-owned subsidiary, Indian Horizon Marketing Services Limited. This investment was made through a rights issue, allocating 60,000 fully paid-up equity shares at ₹10 each. This investment is classified as a related party transaction, as the …
On August 5, 2024, Craftsman Automation Limited announced its decision to acquire Sunbeam Lightweighting Solutions Private Limited (Sunbeam) through a securities subscription and purchase agreement (SSPA). This move follows an earlier stock exchange notification dated June 24, 2024, and is in compliance with Regulation 30 and other applicable regulations of the Securities and Exchange Board …
Bangladesh, India’s neighbouring country, has been experiencing severe turmoil for the past 2 months. The crisis in Bangladesh could disrupt trade with India, impacting goods movement and stalling a potential free trade agreement. India’s trade surplus with Bangladesh was $9.2 billion in FY24. Bangladesh is India’s 25th largest trading partner, with bilateral trade totalling $12.9 …
On August 19, 2024, Glenmark Therapeutics Inc., USA, announced the launch of its new over-the-counter eye drop product, Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1%. This product’s active ingredient is similar to that found in Pataday® Twice Daily Relief. According to Nielsen® data for the 52 weeks ending July 13, 2024, Pataday® Twice Daily Relief (OTC) …
The mutual fund (MF) industry in India has experienced a phenomenal journey over the past decade. According to the Association of Mutual Funds in India (AMFI), the assets under management (AUM) have witnessed an impressive more than six-fold increase from Rs 9.75 lakh crore in June 2014 to Rs 61.16 lakh crore in June 2024. …
T2T stocks or Trade to Trade stock means stocks are those that must be delivered in order to be traded (T+2 settlement). This implies that such equities cannot be traded intraday or, in the case of Buy Today Sell Tomorrow, on a daily basis. This means, If you acquire Trade 2 Trade stocks today, you …
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 …
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% …
