Piramal Alternatives Invests Rs 110 Cr in Biodeal Pharma
India’s booming pharmaceutical sector, valued at a staggering $78 billion , has attracted the attention of Piramal Alternatives, the alternative investment arm of Piramal Enterprises. In a recent move, Piramal Alternatives announced a significant investment of Rs 110 crore in Biodeal Pharmaceuticals, a Noida-based CDMO specializing in nasal sprays and nutraceuticals. Investment Boosts Biodeal’s Infrastructure […]
Adani Gas, MG Motor Partner for EV Charging
India’s electric vehicle (EV) sector is poised for a major leap forward with the collaboration between Adani Gas’s subsidiary, Adani TotalEnergies E-Mobility (ATEL), and MG Motor India. This strategic partnership aims to bridge the critical gap in EV charging infrastructure, a critical factor hindering widespread EV adoption. According to a recent report by the Society […]
NTPC Targets 40M MT Coal Production FY25
State-owned power giant NTPC has set its sights on a significant boost in coal production from its captive mines. The company has unveiled an ambitious target of producing 40 million metric tonnes (MMT) of coal in the upcoming financial year 2024-25 (FY25). This aggressive target represents a substantial 17% year-on-year growth, marking a significant step […]
Vedanta Holdings Boosted by Blackrock, ADIA, Funds
Vedanta Limited’s stock has been on a tear in recent months, experiencing a remarkable nearly 30% increase (around ₹322 per share) since December 2023. This impressive rally has been fueled by a surge in investment activity, with leading financial institutions and domestic mutual funds significantly increasing their stake in the company. BlackRock, ADIA Among Major […]
Voltas AC Reaches 2M Sales Milestone FY24
Voltas, a titan in the Indian home appliance industry, has cemented its leadership position in the air conditioner segment by achieving a phenomenal sales milestone. The company has surpassed the impressive mark of 2 million AC units sold in FY24, registering a stellar 35% growth year-on-year. This accomplishment not only underscores Voltas’ unwavering commitment to […]
ICICI Bank Loans Tata Steel Rs 2,675 Crore
Tata Steel has received a significant boost of Rs 2,675 crore in its ongoing financial restructuring efforts. ICICI Bank stepped in, sanctioning a crucial debt facility with a three-year term. This timely intervention comes as the Indian banking sector experiences a positive uptrend in credit growth. Punjab National Bank (PNB) reported an impressive 11.5% loan […]
Vi Board Approves Rs 2,075 Cr Raise from Aditya Birla
In a move critical for its survival, Vodafone Idea (Vi) received a much-needed shot in the arm from its promoter, the Aditya Birla Group. The company’s board, on April 6, 2024, approved a proposal to raise Rs 2,075 crore through a preferential share issue to Oriana Investments Pte. Ltd., an Aditya Birla Group entity. This […]
J&K Bank Teams with Paymart India for Virtual ATM
J&K Bank is shaking up the banking landscape in Jammu & Kashmir and Ladakh with the introduction of a Virtual ATM (VATM) facility. This strategic collaboration with Paymart India Pvt Ltd promises to enhance accessibility for customers, particularly in areas with limited traditional ATM reach. Cardless Convenience at Your Fingertips The VATM service streamlines cash […]
RBI Fines IDFC First Bank, LIC Housing Finance
The Reserve Bank of India (RBI) sent a strong message to the financial sector recently, imposing penalties on IDFC First Bank and LIC Housing Finance for non-compliance with regulatory norms. This move reinforces the central bank’s unwavering focus on maintaining a robust and fair financial ecosystem in India. IDFC First Bank Stumbles on Due Diligence: […]