RBI’s Industry Survey: Manufacturing Companies
The Reserve Bank of India (RBI) launched the 65th round of its Order Books, Inventories and Capacity Utilisation Survey (OBICUS) on April 9, 2024. Initiated in 2008, this critical quarterly survey serves as a vital tool for the RBI to gauge the health of the manufacturing sector and shape its monetary policy decisions. Data for […]
HDFC Credila Raises $100M via ECB Route for Loan Expansion
HDFC Credila, a leading education-focused lender in India, announced on Tuesday, April 9, 2024, that it has successfully raised USD 100 million through the External Commercial Borrowing (ECB) route. This strategic move aims to fuel the company’s loan book expansion and cater to the burgeoning education loan market in India. The Indian education loan market […]
Baba Ramdev, Balkrishna Apologize: SC on Misleading Ads
Yoga guru Baba Ramdev and Patanjali Ayurved Ltd’s managing director, Acharya Balkrishna, recently submitted affidavits to the Supreme Court expressing their unconditional apology for the company’s misleading advertisements. This action follows a lawsuit filed by the Indian Medical Association (IMA) against Patanjali. The IMA accused the company of making unsubstantiated claims about curing diseases and […]
SIDBI, KarmaLife Offer Gig Workers Micro Loans
The Small Industries Development Bank of India (SIDBI) has partnered with fintech platform KarmaLife to provide much-needed financial support to gig workers. This pilot program aims to bridge the gap in financial inclusion for this segment of the workforce, by offering microloans specifically tailored to their needs. A Growing Workforce in Need of Support The […]
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 […]