After the tower business’s August 14 buyback, which Bharti Airtel led, concludes, the telecom infrastructure company will have only one shareholder Indus Towers. Previously holding 48.95% of the business, Airtel will now own over 50% of Indus Towers, forming the telecom behemoth’s subsidiary. On August 14, Indus Towers started repurchasing Rs 465 per share, for…
The SME IPO market was introduced back in 2012, thus it has been around for well over ten years. However, it has never made headlines as much as it has this year because several of the offers have achieved exceptionally high subscription numbers followed by significant listing gains. Public issues that entered the market in…
On Wednesday, KPI Green Energy declared that, on its own, it has effectively achieved zero net debt status. “We are pleased to inform you that as of August 28, 2024, the company has successfully attained zero net debt status on a standalone basis,” the company stated in a regulatory statement. This accomplishment demonstrates our commitment…
After ending at 83.91 on August 26 instead of 83.95 roughly a week earlier, the Indian rupee has somewhat appreciated over the previous trading days. Though importers’ dollar demand and foreign portfolio withdrawals from Indian equities (totaling USD 1.5 billion as of August 26) have restricted the rupee’s gains, the currency is seeing some support…
On Tuesday, Maharashtra State Electricity Distribution Company Limited (MSEDCL) sent a Letter of Award (LoA) for the establishment of a 200 MW Wind-Solar Hybrid Power Project to JSW Neo Energy Limited (JSW Neo), a wholly owned subsidiary of JSW Energy Limited, in response to a tariff-based competitive bid (MSEDCL – Phase III). The company reported…
On Monday, Bharat Heavy Electricals Limited (BHEL) revealed that it had received orders totaling more than Rs 11,000 crore from Adani Power and Mahan Energen, a subsidiary of Adani Power, for the provision of equipment (such as boilers, turbines, and generators) and supervision of the erection and commissioning of three power projects located in Mahan,…
In the benchmark Nifty 50, Trent and Bharat Electronics will take the places of Divis Laboratories and LTIMindtree. The Nifty 50 Equal Weight index will likewise be affected by the replacement in Nifty 50. As part of the semi-annual assessment of broad market indices, the Index Maintenance Sub-Committee (Equity) of NSE Indices has agreed to…
JSW Neo Energy, a JSW Energy subsidiary, declared that it has obtained a letter of award (LoA) from NTPC to establish a 300 MW wind-solar hybrid power plant that is connected to the ISTS. The award is a component of the tariff-based competitive bid that was requested for the creation of 1,000 MW ISTS-connected Wind-Solar…
The consumer goods company Dabur India is launching its first manufacturing venture in the southern region with an investment of Rs 400 crore to establish a new plant in Tamil Nadu. The business and the Tamil Nadu government inked a memorandum of understanding (MoU) on Thursday to develop a cutting-edge manufacturing facility in the Villupuram…
In August, the manufacturing purchasing managers’ index fell from 58.1 in July to 57.9, while the services purchasing managers’ index increased from 60.3 to 60.4 in July. The composite index consequently dropped to 60.5 from 60.7 in July, the lowest level since May. Despite this, the most recent manufacturing PMI number was higher than the…
