Kishore Biyani, the founder of Future Group, has made an unexpected proposal of ₹476 crore to lenders led by Canara Bank. This offer is intended for a one-time settlement (OTS) of the ₹571 crore debt of Bansi Mall Management Co (BMMCPL), the owner of SOBO Central Mall located in Mumbai’s Haji Ali area. Details of …
Aditya Birla Sun Life Asset Management Company (AMC) is set to undergo a significant change in its shareholding structure. The company’s promoters, Aditya Birla Capital and Sun Life (India) AMC Investments Inc., have announced an offer for sale (OFS) to divest up to 11.47% of their stake, translating to roughly 33 million shares. This comprises …
On Monday, the market had a mixed performance with trading mostly within a narrow range. The main stock index, Sensex, ended slightly higher, up by 0.14% at 72,748.42, while the Nifty50 index also saw a slight increase, up by 0.15% to close at 22,055.70. Among individual stocks, Tata Steel, M&M, and JSW Steel saw gains, …
On March 18, 2024, Godawari Power and Ispat Ltd informed that the company’s board approved the merger of its wholly-owned subsidiary, Godawari Energy Ltd (GEL), with the parent entity. Details of the Amalgamation On Monday, Godawari Power and Ispat Ltd announced the amalgamation in the stock exchange filing. The company held a board meeting, and …
The Indian automobile industry is shifting into high gear, with carmakers expressing optimism about domestic sales reaching a staggering 4.2 million units in the ongoing financial year (FY24). This projected figure signifies a significant jump from the previous year and paints a rosy picture for the sector. Experts predict that car sales in India will …
These three equities’ volume gained significantly during Monday’s trading sessions, indicating strong bullish action. Here’s an in-depth look. Sakuma Exports Ltd The stock of Sakuma Exports saw a significant increase in price and volume, indicating heightened investor interest. This surge has pushed the stock towards its recent levels after overall market drawdown bouncing from a …
On Monday, Manoj Vaibhav Gems N Jewellers Ltd informed the exchanges in a filing that the company is opening a new showroom in Vizianagaram, Andhra Pradesh, in March. On March 18, 2024, Manoj Vaibhav Gems N Jewellers Ltd stated in the exchange filing that they are opening a new showroom in Andhra Pradesh on March …
On March 15, 2024, a Memorandum of Understanding (MoU) was signed between REC Ltd wholly-owned subsidiary, REC Power Development and Consultancy Limited (RECPDCL), and Bharat Heavy Electrical Limited (BHEL), to build utility-scale renewable energy projects around the nation jointly. The purpose of the Memorandum of Understanding is to use a specific Special Purpose Vehicle (SPV) …
An initial use case of 5G mobile networks, Fixed Wireless Access (FWA) will get monetised in India as telecom operators cannot use fibre in every place due to the cost and time constraints. Telecom Operators’ Strategy Randeep Sekhon, Chief Technology Officer (CTO) of Airtel, stated that telecom operators cannot try to fiberise every place since …
NHPC Limited, one of India’s foremost hydropower companies and a central public sector enterprise under the Ministry of Power, has won a significant bid to spearhead the development of a 200 MW capacity Solar Power Project on March 15, 2024. This venture is slated to be established within the 1,125 MW RE Park operated by …
