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Pritika Auto Industries Achieves Highest Ever Monthly Dispatch

Pritika Auto Industries Achieves Highest Ever Monthly Dispatch

2 August 2024

Pritika Auto Industries Limited has recently announced its highest ever monthly dispatch, reaching an impressive 3,550 tons in July 2024. This landmark achievement underscores the company’s robust operational capabilities and commitment to excellence. Commitment to Excellence The company has been consistently striving to enhance its production and distribution processes. This recent milestone is a testament …

Netweb Technologies Block Deal: Rs.459 Crore Worth of Shares Exchanged

Netweb Technologies Block Deal: Rs.459 Crore Worth of Shares Exchanged

2 August 2024

Netweb Technologies India (NTI) is a top provider of high-end computing solutions (HCS) in India, offering design and manufacturing services. Yesterday, shares of Netweb Technologies worth Rs.459 crore were sold in a block deal which consisted of approximately 20.5 lakh shares, representing a 3.64% stake in the company. The shares were exchanged at an average …

Nestle India Acquires Stake in Dr. Reddy’s JV For Rs.705 Cr

Nestle India Acquires Stake in Dr. Reddy’s JV For Rs.705 Cr

2 August 2024

In a strategic move to bolster its presence in the nutritional health solutions market, Nestle India Ltd. has invested Rs 705.5 crore in a joint venture with Dr. Reddy’s Laboratories Ltd. This partnership is expected to synergize the strengths of both companies, catering to the growing demand for health supplements and nutraceuticals in India. Investment …

Zomato Announces The Launch New App “District” for Going Out Business

Zomato Announces The Launch New App “District” for Going Out Business

2 August 2024

Zomato, a leading food aggregator, is diversifying its services by launching a new app called District. This innovative platform is designed to consolidate a wide range of ‘going-out’ services, offering customers a one-stop destination for dining, movies, sports ticketing, live performances, shopping, and staycations. The announcement was made by CEO Deepinder Goyal following Zomato’s first-quarter …

Automakers Posted Mixed Sales Numbers in July 2024

Automakers Posted Mixed Sales Numbers in July 2024

2 August 2024

India holds a dominant position in the global heavy vehicles market as it is the largest tractor producer, 2nd largest bus manufacturer, and 3rd largest heavy truck manufacturer in the world. During July 2024, most of the automobile manufacturers recorded a mixed sales number on a YoY basis: Let us now have a look at …

Tata Technologies Ends Chhattisgarh ITI Upgrade Project

Tata Technologies Ends Chhattisgarh ITI Upgrade Project

12 August 2024

Tata Technologies Ltd., a leading engineering services provider, has received a notice from the Chhattisgarh government to cancel the upgrade of Industrial Training Institutes (ITIs) in the state. In response, the company has accepted the termination of the agreement and has initiated steps to refund the funds held in escrow. Termination of the Agreement The …

Public Sector Banks Increase MCLR Rates Due to Increased Deposit Costs

Public Sector Banks Increase MCLR Rates Due to Increased Deposit Costs

12 August 2024

Several public sector banks, including Bank of Baroda, Canara Bank, and UCO Bank, have increased their benchmark marginal cost of funding-based lending rate (MCLR) following the Reserve Bank of India’s (RBI) recent monetary policy announcement. The hike in MCLR, ranging from 5 to 10 basis points, reflects the higher cost of funds for banks due …

IIHL Deposits Rs.2,750 Crore for Reliance Capital, Meets NCLT Deadline

IIHL Deposits Rs.2,750 Crore for Reliance Capital, Meets NCLT Deadline

12 August 2024

IndusInd International Holdings Limited (IIHL) has recently announced that it deposited Rs.2,750 crore into the escrow account designated by the Committee of Creditors (CoC) and Vistra. This deposit was made a day before the August 10 deadline set by the National Company Law Tribunal (NCLT). It was important for the ongoing insolvency resolution of Reliance …

CVC Capital Partners to Acquire 52.47% Stake in Aavas Financiers from Promoters

CVC Capital Partners to Acquire 52.47% Stake in Aavas Financiers from Promoters

12 August 2024

In a significant financial sector development, CVC Capital Partners, a global private equity giant, has announced a major acquisition in India. The firm is set to take control of Aavas Financiers, a leading non-banking financial company (NBFC) specializing in affordable housing loans. This acquisition not only marks a milestone for CVC Capital but also highlights …

Suzlon Market Cap Surges Past Rs 1 Lakh Crore; Stock Hits Upper Circuit

Suzlon Market Cap Surges Past Rs 1 Lakh Crore; Stock Hits Upper Circuit

9 August 2024

Third Consecutive Day of Gains for Suzlon Energy Suzlon Energy Ltd., one of India’s leading wind turbine manufacturers, has achieved a significant milestone by crossing a market capitalization of Rs 1 lakh crore. The stock has been on a winning streak, gaining for the third consecutive day. On Friday, Suzlon’s shares surged by 5%, marking …

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