Krishna Institute of Medical Sciences Limited (KIMS) has announced the approval of the proposed merger between its step-down wholly-owned subsidiary, Rajyalakshmi Healthcare Private Limited (RHPL), and its holding company, Sarvejana Healthcare Private Limited (SHPL). The merger was sanctioned by the boards of both companies on July 22, 2024. Rajyalakshmi Healthcare Private Limited, the transferor company, …
Schaeffler India Limited announced that the Board of Directors approved the results for the second quarter and half year ended June 30, 2024. April – June 2024 (2nd Quarter) The company’s revenue from operations (net) for Q2’24 was ₹20,719 million, 13.3% higher than the corresponding quarter of 2023 and 12.0% higher than the preceding quarter …
Infosys Ltd has announced a strategic investment in UVC Partners, a prominent venture capital fund based in Germany, committing €5.0 million. This move is part of Infosys’ broader strategy to enhance its capabilities in artificial intelligence (AI) and deep technology, areas that are increasingly integral to its clients’ digital transformation efforts. The investment will be …
In a stock exchange filing, Bajel Projects Limited recently announced that the company has secured a significant contract from PowerGrid Corporation of India Limited (PowerGrid). This contract has been awarded for the supply of goods and services related to the Beawar-Mandsaur Transmission Line Project in Rajasthan. The specific entity on whose behalf PowerGrid awarded the …
Ester Industries Limited, in a recent stock exchange filing, announced the incorporation of ESTER LOOP INFINITE TECHNOLOGIES PRIVATE LIMITED (ELITe) as a wholly-owned subsidiary. This development follows the execution of a Joint Venture Agreement dated May 1, 2024, between Ester Industries Limited (EIL) and Loop Industries Inc. (Loop). ELITe was officially incorporated in India on …
On July 22, 2024, Titagarh Rail Systems Limited (TRSL) began exporting traction converters. The first shipment of 8 converters was sent to Titagarh Firema S.p.A in Italy on July 19, 2024. This export is part of a EUR 7.18 million (approximately ₹65 crore) order from Titagarh Firema. It marks the first time traction converters have …
In the latest Union budget, Finance Minister Nirmala Sitharaman announced a hike in the basic customs duty on imported printed circuit board applications (PCBAs) for specific telecom equipment. This decision is part of a broader strategy to encourage domestic manufacturing and reduce reliance on imports. However, this change will have mixed impacts on various stakeholders …
Hindustan Unilever (HUL), India’s largest consumer goods company, reported a 2.7% y-o-y increase in standalone net profit for Q1FY25, reaching Rs.2,538 crore. This figure aligns with street estimates, which had forecasted a profit of Rs.2,561 crore. Revenue, encompassing product sales and other operating income, rose 1.3% y-o-y to Rs.15,339 crore, meeting analysts’ expectations of Rs.15,325 …
The Union budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, brought significant movements in the stock market With the announcement of no changes in the tax rates for cigarettes and tobacco products, ITC Ltd. experienced a notable surge in its share price, The stock of ITC Ltd. has scaled new 52-week high of Rs.510.65 …
India’s non-bank lender, Bajaj Finance, reported a smaller-than-expected Q1 FY25 profit on Tuesday, weighed down by higher provisions for bad loans. The company disclosed a consolidated net profit after tax of Rs 3,912 crore, marking a 14% year-on-year increase for the quarter ended June 30, 2024. This figure fell short of many analysts’ estimates of …
