Tata Power to Take Over Jalpura Khurja for Rs 838 Crore
Tata Power, India’s largest integrated power company, has announced that it has won the bid to acquire Jalpura Khurja Power Transmission Limited (JKPTL), a project special purpose vehicle (SPV) set up by REC Power Development and Consultancy, a wholly-owned subsidiary of REC Limited, a non-banking finance company (NBFC) and infrastructure financing company under the Ministry […]
Adani Realty Secures ₹30,000 Cr Bandra Reclamation Project
Adani Realty, the real estate arm of Adani Group, has emerged as the preferred bidder for the redevelopment of the Bandra Reclamation land parcel in Mumbai, one of the most coveted and expensive properties in the country. The company has offered 22.79% revenue share to the Maharashtra State Road Development Corporation (MSRDC), which owns the […]
Dr. Reddy’s Aims to Acquire Novartis India
Dr. Reddy’s Laboratories, one of India’s leading pharma companies, is reportedly interested in acquiring a majority stake in Novartis India, the listed subsidiary of Swiss multinational Novartis AG. This comes after Novartis AG announced a strategic review of its 70.68% shareholding in Novartis India on February 16, 2024. Why Dr. Reddy’s wants Novartis India Dr. […]
Sebi Confirms Refund to 21 Lakh PACL Investors
The Securities and Exchange Board of India (SEBI) has announced that it has refunded Rs 1,022 crore to nearly 21 lakh investors of PACL Ltd, a company that ran illegal investment schemes for decades. The refund process was initiated by the Justice (Retd.) R.M. Lodha Committee, which was constituted by SEBI in 2016 to sell […]
E-Mobility Boost: M&M, Volkswagen Enter Supply Agreement
Mahindra & Mahindra Ltd. (M&M), one of India’s leading automakers, has signed a supply agreement with Volkswagen Group, the largest car manufacturer in Europe, for components of Volkswagen’s Modular Electric Drive Matrix (MEB) for Mahindra’s purpose-built electric platform INGLO. The deal will enable Mahindra to launch five all-electric SUVs in India based on its new, […]
Bandhan Bank Authorized by WB Govt for Tax Collections
Bandhan Bank, one of the leading private sector banks in India, has been authorized by the West Bengal government to collect tax and non-tax receipts through the Government Receipt Portal System (GRIPS). This will make it easier and convenient for the people of the state to pay their dues online. What is GRIPS? GRIPS is […]
LIC Launches Amritbaal Plan for Child’s Higher Studies
LIC, the largest life insurance company in India, has launched a new plan called ‘LIC’s Amritbaal’ to help parents save for their child’s higher education. The plan is a traditional endowment policy that offers guaranteed additions and maturity benefits. What is LIC’s Amritbaal Plan? LIC’s Amritbaal is a non-linked, non-participating individual savings and life insurance […]
India Advocates for Cheaper Cross-Border Payments at WTO
India has proposed a work programme at the World Trade Organization (WTO) to lower the Cross-Border Payments for promoting international trade. In a submission made on Tuesday, New Delhi said one of the means to achieve cheaper, faster and more transparent and accessible cross-border payments including remittances is “promoting interoperability and interlinkages of digital payment […]
NTPC and NALCO Sign Preliminary Power Supply Pact
State-owned power producer NTPC and aluminium major NALCO have inked a preliminary agreement to supply over 1,200 MW of round-the-clock power for the latter’s expansion of smelter plant capacity in Angul, Odisha. The MoU was signed on Friday in the presence of Dillip Kumar Patel, Director (HR), NTPC, and Jagdish Arora, Director (Project &Technical), NALCO […]
Ola Electric S1 Prices Cut by Rs 25,000: New Rates
Ola Electric has announced a price drop of Rs 25,000 for its S1 scooter range this month. The company said it has achieved this due to its strong cost structure, in-house technology and manufacturing capabilities, and eligibility to manufacturing incentives. What are the new prices of Ola Electric S1 scooters? The revised prices of the […]