Overview of SEBI’s Order The Securities and Exchange Board of India (SEBI) has taken decisive action against 12 entities, including Add-Shop E-Retail, a listed firm, and several members of its promoter-management team. This order prohibits them from participating in the securities market due to serious allegations of financial manipulation. The Root of the Problem: Fictitious …
On May 7, 2024, Tata Communications introduced Tata Communications CloudLyte, a fully automated edge computing platform. This new platform is designed to empower future-ready companies to thrive in a data-driven world. The company stated that real-time data processing, intelligent decision-making, and low-latency applications are crucial in an era of hyperconnectivity and the rising adoption of …
On May 6, 2024, Gujarat Fluorochemicals Limited (GFL), a leading Indian manufacturer of fluorochemicals and speciality chemicals, announced a strategic move to acquire the remaining 0.60% stake in IGREL Mahidad Limited (IGREL). This acquisition will solidify IGREL’s position as a wholly-owned subsidiary of GFL. Strengthening Control and Aligning Strategies By acquiring the outstanding shares, GFL …
Despite opening the trading session on a notably higher note, domestic indices later witnessed a significant decline, largely influenced by downturns in the telecommunications, power, utilities, and banking sectors. With the exception of the BSE FMCG Index, which saw shares of HUL soar 5% today, all other sectoral indices were trading lower. At 11:10 am, …
On May 7, 2024, VA Tech WABAG informed the stock exchanges that the company had secured a repeat order from Office National De L’assainissement (ONAS). The consortium order from ONAS is for the Design, Build, Operate (DBO) of a 36 MLD Wastewater Treatment Plant (WTP) worth approximately 114.22 million Tunisian Dinars (around Euro 34 million) …
Leading automaker Mahindra & Mahindra Limited (M&M) announced a significant move towards expanding its presence in the renewable energy sector on May 6, 2024. Mahindra Susten Private Limited (MSPL), a wholly-owned subsidiary of Mahindra Holdings Limited, has incorporated four new companies: Neon Hybren Private Limited Orion Hybren Private Limited Pulse Hybren Private Limited Quest Hybren …
IRB Infrastructure Developers Limited (IRB Infra), India’s leading developer of multi-modal transport infrastructure, and its associate, IRB Infrastructure Trust (IndInfraTrust), India’s largest Infrastructure Investment Trust, have commenced the new financial year (FY25) on a positive note. Both companies reported a solid 29% year-on-year (YoY) growth in toll revenue for April 2024, the first month of …
On May 6, 2024, VST ZETOR Private Ltd, a collaborative venture between VST Tillers Tractors Ltd and HTC Investments a.s, unveiled 3 new higher HP tractors in the 41 to 50 HP range—VST ZETOR 4211, 4511, and 5011. These tractors, representing the pinnacle of joint development efforts between VST and ZETOR, were rigorously tested and …
In May, Rallis India Limited announced a significant development in the company. Rallis India, a Tata Group company, announced that they established an automated 8,000 Metric Ton Water Soluble Fertiliser (WSF) plant in Akola, Maharashtra. Rallis India, a leading player in the Indian Agri inputs industry, stated that this strategic initiative highlights the company’s commitment …
REC Limited, a leading public-sector NBFC under the Ministry of Power in India, has secured a significant nod of approval. The Reserve Bank of India (RBI) granted REC a ‘No Objection Certificate’ to establish a wholly-owned subsidiary at the Gujarat International Finance Tec-City (GIFT) in Gandhinagar, Gujarat. This move signifies REC’s strategic expansion into GIFT …
