IIFL Samasta Finance Limited is launching its Tranche II of secured, redeemable, non-convertible debentures (Secured NCDs) from June 3, 2024, to June 14, 2024. The issue size for this tranche is Rs 1,000 crores, with a base issue size of Rs 200 crores and an oversubscription option of Rs 800 crores. The total shelf issue …
Corporate earnings exhibited robust performance in Q4 FY 2024, with broad-based outperformance across various sectors. The strong gains were primarily fueled by domestic cyclicals such as automobiles, financials, healthcare, capital goods, and cement industries. However, global cyclicals such as metals and oil & gas sectors weighed down profitability. The Nifty 50 achieved impressive results, with …
On June 3, 2024, Cupid Ltd announced in an exchange filing the initiation of a strategic foray into the Indian market by launching its distribution network for Rapid In Vitro Diagnostic (IVD) kits. This step forms a vital part of Cupid’s broader strategy to enhance its footprint in the global IVD market. Cupid Limited has …
Reliance Infrastructure Limited (RInfra) announced a strategic move to bolster its digital capabilities through the incorporation of a new subsidiary, Reliance Unlimit Private Limited (RUPL). This wholly-owned subsidiary of Reliance Energy Limited (REL), another RInfra subsidiary, positions Reliance to leverage advanced IT solutions and infrastructure for enhanced business operations. Fostering Business Growth Through Technology RUPL’s …
Techno Electric & Engineering Company (TEEC) announced the successful acquisition of M/s. NERES XVI Power Transmission Limited (NERES XVI PTL) on May 30, 2024. This strategic move significantly bolsters TEEC’s presence in the Indian power transmission sector. Competitive Bidding Secures Project Following a rigorous and transparent process, TEEC emerged as the winning bidder for the …
On June 3, 2024, Punjab National Bank (PNB) and India Infrastructure Finance Company Ltd (IIFCL) signed an agreement to offer long-term financial assistance to viable infrastructure projects. This collaboration aims to jointly fund infrastructure projects through a consortium or multiple lending arrangements, with both parties participating, pending thorough due diligence on a case-by-case basis. The …
On June 3, 2024, Aurigene Pharmaceutical Services Limited (“Aurigene”), a Dr. Reddy’s Laboratories Limited subsidiary, inaugurated a 70,000 sq. ft. biologics facility in Genome Valley, Hyderabad, India. The facility will support customers with the process, analytical development, and small-scale manufacturing of antibodies and other recombinant proteins for preclinical and early-phase clinical trials. While the process …
Mahan Energen Limited owns and operates a thermal power plant. The Company generates, transmits, and distributes electricity through coal. Mahan Energen serves customers in India. The company is a subsidiary of the Adani group power company, Adani Power. Mahan Energen to merge with Staratech Mineral The Adani Group’s Mahan Energen Ltd. has announced its decision …
Sapphire Foods is one of the largest franchisees of Yum! Brands Inc. in the subcontinent, and operates more than 400 KFC, Pizza Hut, and Taco Bell restaurants across India, Sri Lanka, and the Maldives. The underperforming Pizza Hut, KFC operator is considering a stock split. Sapphire Foods Ltd. to consider on June 19 Sapphire Foods …
Indian benchmark indices faced significant selling pressure, plunging around 3% amidst heightened volatility due to uncertainty surrounding the outcome of the Lok Sabha elections. Broader indices also dropped around 4% each, reflecting bearish investor sentiment. The FMCG, healthcare, and information technology sectors were the least affected. At 10:55 am, the BSE Sensex plunged 3.86% reaching …
