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…
IREDA’s shares surged 11.2% to an intraday high of Rs 265.70 on the company’s announcement in an exchange filing that it is exploring options for funding up to Rs 4,500 crore through rights issues, qualified institutional placement, and other ways. The financing will be presented to the board of directors for approval on August 29…
According to a CRISIL Ratings report, India’s cement manufacturers are anticipated to invest around Rs 1,25,000 crore in capital expenditure (capex) during the fiscal years 2025–2027. It also stated that the pursuit of market share and a positive prognosis for demand will be the driving forces behind this. The projected expenditure will be 1.8 times…
In the context of the Navi Mumbai Airport Influence Notified Area (NAINA) Project in Maharashtra, Larsen and Toubro (L&T) stated on Wednesday that its Transportation Infrastructure company had obtained a sizable order for the Integrated Infrastructure Development project in Town Planning Schemes 2 to 7. The project was given the go-ahead by City and Industrial…
Data from the National Securities Depository (NSDL) shows that in the first half of August, foreign portfolio investors (FPIs) sold shares worth $1.76 billion of financial services businesses, marking the largest outflow from the industry since January. With $2.24 billion in total sales, the financial services industry accounted for over 78% of all net outflows…
Manufacturer of steel tubes and pipes Hi-Tech Pipes received an order for ERW steel pipes worth Rs 105 crores from clients in the renewable energy industry. The company claims that within the next three months, its newly constructed, state-of-the-art facility in Sanand, Gujarat, with its enhanced technology, would help meet this demand. Solar power plants,…
During the week ending August 16, the Indian rupee saw little change, finishing at 83.95 with little variation. There was modest support for the rupee due to the US recession fears abating, carry trade unwinding slowing down, and oil prices easing. Pressure was applied, though, in part because of a larger trade imbalance in July…
