Waaree Energies Ltd announced its board has approved a total investment of ₹850 crore to establish manufacturing facilities for electrolysers and storage cells. The investments include: ₹551 crore in capex and ₹200 crore investment for a 300 MW electrolyser plant under the PLI scheme through Waaree Clean Energy Solutions, a wholly-owned subsidiary. ₹2,073 crore in …
Indian markets are likely to be impacted today, as GIFT Nifty futures indicated a 25-point rise to 23,794, higher than Nifty50 futures. On Monday, the BSE Sensex surged 498 points (+0.64%) to close at 78,540.17, while the Nifty50 gained 165 points (+0.7%) to settle at 23,753.45. Here are key stocks to keep an eye on …
India’s electric vehicle (EV) sector is witnessing swift expansion, driven by government incentives, growing environmental awareness, and technological progress. Through initiatives such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, India seeks to accelerate EV adoption, transforming its transportation system towards sustainability and innovation. In this blog, we will explore …
On December 23, 2024, Vakrangee share price is in focus as its board has approved the issuance of 35 crore convertible warrants via a preferential allotment to 11 non-promoter investors. This move aims to raise ₹980 crore, contingent on shareholder approval. Vakrangee share price opened at ₹33.38 and touched the day low of ₹31.85 at 10:30 AM. …
On December 23, 2024, Siemens India share price opened at ₹6,860.05 reflecting a slight dip of 0.13% from the previous close of ₹6,868.90. This follows a significant 10% decline in the stock price on Friday, December 20, driven by concerns sparked by the company’s management commentary. The drop marked Siemens India’s steepest single-day fall since June 2024, …
On December 20, 2024, Vedanta Ltd announced changes to its previously proposed demerger scheme, with a significant revision to retain its base metals operations within the parent company. This decision came after extensive discussions with stakeholders, including lenders. Original Demerger Proposal Initially, Vedanta had proposed the demerger of five major undertakings into separate entities, aiming …
On December 21, 2024, NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Ltd announced that it has signed a Memorandum of Understanding (MoU) with the Department of Industries, Government of Bihar. The MoU was exchanged between Shri Alok Ranjan Ghosh, Director (Industries), Government of Bihar, and Shri Bimal Gopalachari, Additional GM (Business Development), NGEL, …
On December 20, 2024, Waaree Energies announced that its wholly-owned subsidiary, Waaree Solar Americas Inc., has commenced trial production of solar modules at its manufacturing facility in the United States. The first phase of the facility is designed to have a 1.6 GW solar module manufacturing capacity, with plans to expand it to 3 GW. …
On Friday, December 20, 2024, the Competition Commission of India (CCI) gave its approval for UltraTech Cement Limited’s acquisition of India Cements Limited. Details of the Proposed Acquisition The proposed acquisition involves UltraTech Cement Limited (UltraTech/Acquirer) acquiring: UltraTech will acquire 32.72% of the paid-up equity share capital of India Cements Limited (India Cements/Target) from the promoters and …
The Production-Linked Incentive (PLI) scheme for India’s automobile and auto component sector has recently seen significant developments. Initially intended to bolster local manufacturing, the scheme is experiencing hurdles as several companies face exclusion due to unmet investment requirements. Overview of the PLI Scheme for Automobiles Launched to enhance local manufacturing capabilities, the auto PLI scheme …
