Government Begins Selling NHPC Stake, Offers 3.5% through OFS at ₹66 Each Share
Background The government of India has initiated a stake sale plan for the state-owned power producer NHPC Ltd, which operates 24 hydroelectric power stations across the country. The government currently holds 70.95% stake in NHPC, and aims to divest a 3.5% stake through an Offer for Sale (OFS) at ₹66 per share. Details The OFS […]
HCL Group and Foxconn Join Forces to Establish Chip Packaging Unit in India
Introduction In a major boost to India’s semiconductor industry, HCL Group and Foxconn have announced a partnership to set up an outsourced assembly and testing unit (OSAT) for semiconductor chips in the country. The joint venture will leverage the engineering and manufacturing expertise of both the companies and create an ecosystem for the domestic chip […]
L&T Lands ‘Mega Order’ for Electrification of Mumbai-Ahmedabad Bullet Train Project
Introduction Larsen & Toubro (L&T), India’s leading engineering and construction company, has secured a ‘mega order’ to build the electrification system for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Project, popularly known as the bullet train project. The order, awarded by an authorised Japanese agency, involves the construction of 508 km of high-speed electrification system works for […]
Telangana Government and World Economic Forum Partner to Set Up C4IR in Hyderabad
A landmark agreement for health tech and life sciences The Telangana government and the World Economic Forum (WEF) have signed an agreement to establish the Centre for the Fourth Industrial Revolution (C4IR) in Hyderabad, the capital city of the southern Indian state. The agreement was signed by Chief Minister A. Revanth Reddy and WEF president […]
IndoSpace’s Rs 2000 Cr Contract with Tamil Nadu Government Signed
IndoSpace, a leading developer of industrial real estate in India, has signed a memorandum of understanding (MoU) with the Tamil Nadu government during the Tamil Nadu Global Investors Meet 2024 . The MoU is valued at Rs 2000 crore and signifies IndoSpace’s commitment to the state’s industrial landscape and economic growth . Investment and Employment […]
EPFO No Longer Recognizes Aadhaar as Proof of Date of Birth
The Employees’ Provident Fund Organisation (EPFO), a statutory body under the Ministry of Labour and Employment of the Government of India, has announced that it will no longer accept Aadhaar card as a valid proof for date of birth. The decision, which was made with the approval of the Central Provident Fund Commissioner (CPFC), follows […]