Reliance, Elephant House Partner to Expand Beverage in India
Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Retail Ventures Limited (RRVL), has struck a strategic partnership with Sri Lanka’s iconic beverage brand, Elephant House. This collaboration aims to introduce, manufacture, market, and distribute Elephant House beverages across the vast Indian market. Expanding Beverage Portfolio and Challenging Dominance The partnership with Elephant House […]
Adani Power Denied Rs 1,300 Cr Surcharge by Supreme Court
In a setback for Adani Power Rajasthan Ltd. (APRL), the Supreme Court of India dismissed their petition seeking over ₹1,300 crore as a late payment surcharge (LPS) from Jaipur Vidyut Vitran Nigam Limited (JVVNL). JVVNL is a power distribution company owned by the Rajasthan government. A Long-Standing Power Purchase Agreement Dispute The dispute stems from […]
Tata Sons Sells 0.6% TCS Stake for ₹9,300 Crore
Tata Sons, the holding company of the Tata Group, has announced the sale of a 0.65% stake in its crown jewel, Tata Consultancy Services (TCS), for ₹9,362.3 crore (approximately $1.13 billion) as of March 19, 2024. This move comes amidst talks of a potential TCS Initial Public Offering (IPO) and has sparked discussions within the […]
Tamil Nadu Signs MoU to Implement PM SHRI School Scheme
In a significant development for Tamil Nadu’s education sector, the state government has signed a Memorandum of Understanding (MoU) with the Ministry of Education to implement the PM SHRI Schools scheme. This collaboration signifies the state’s commitment to providing high-quality education aligned with the National Education Policy (NEP) 2020, while leveraging crucial financial support from […]
SANY India, J&K Bank MoU: Finance Solutions for Customers
In a significant development poised to propel infrastructure advancement in Jammu and Kashmir (J&K) and Ladakh, leading construction equipment manufacturer SANY India has signed a Memorandum of Understanding (MoU) with J&K Bank. This strategic collaboration aims to bridge the financing gap for customers, enabling them to readily acquire advanced construction equipment and expedite infrastructure projects […]
Axis Bank Funds ₹100 Cr for National Cancer Grid
In a significant boost to India’s fight against cancer, Axis Bank, a leading private sector bank, has announced a ₹100 crore contribution to the National Cancer Grid (NCG) spread over a five-year partnership. This strategic collaboration aims to revolutionize cancer care in India by focusing on three key areas: improved access, research advancements, and digital […]
Centre Advises Coal India, NLC India to Cut Supply Costs
The Indian government has issued a directive to Coal India and NLC India, the country’s leading coal producers, urging them to explore avenues to reduce coal supply costs by 10-15%. This move comes amidst growing concerns over the rising cost of coal, which is squeezing power generation companies and pushing electricity prices upwards for consumers. […]
FPIs’ March Investments: Rs 50,000 Cr in Equity, Debt
Foreign Portfolio Investors (FPIs) have exhibited sustained optimism in the Indian economy by injecting a net investment of Rs 50,493 crore ($6.3 billion) into the Indian stock and debt markets during March 2024. This positive stance comes in the face of significant volatility that roiled the stock market throughout the month. Data gleaned from the […]
BSNL Plans Two 10-Year Govt-Guaranteed Bonds
Faced with a substantial debt burden, India’s state-owned telecom operator, Bharat Sanchar Nigam Limited (BSNL), is taking a proactive step towards financial recovery. The company has announced plans to issue two separate 10-year bonds with a government guarantee, aiming to raise a total of ₹24.06 billion. This initiative follows the Indian government’s revival package unveiled […]
Meeting MPS Norms: 5 PSU Banks to Reduce Govt Holding
The Indian government is accelerating its efforts to bring public sector banks under the purview of SEBI’s minimum public shareholding norms. This regulatory requirement mandates that all listed companies maintain at least 25% public shareholding. While four PSBs – State Bank of India, Punjab National Bank, Bank of Baroda, and Bank of India – achieved […]