Indian Market

RITES Jumps 13% as Northeast Frontier Railway Ups Project Value

RITES Jumps 13% as Northeast Frontier Railway Ups Project Value

Shares of RITES surged nearly 13% on November 25 after the Northeast Frontier Railway increased its project estimate for the LMG-BPB electrification work to Rs 531.77 crore, up 84% from the earlier estimate of Rs 288.44 crore. This project, part of the Lumding division of Northeast Frontier Railway, is being executed on a turnkey basis […]

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Edelweiss Plans Minority Stake Sale in Mutual Fund Unit, Hires Nomura

Edelweiss Plans Minority Stake Sale in Mutual Fund Unit, Hires Nomura

Edelweiss Financial Services has engaged Nomura Holdings to assist in selling a minority stake in its mutual fund business. The Mumbai-based financial group is reportedly exploring the sale of a 25-35% stake in the unit, aiming for a valuation of $700-800 million for the entire business, as per sources familiar with the matter. The company’s

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Apollo Micro Systems Shares Rise After Securing Rs 4.65 Crore Order from DRDO

Apollo Micro Systems Shares Rise After Securing Rs 4.65 Crore Order from DRDO

Apollo Micro Systems (AMSL) shares gained over 3% on November 25 after the company announced receiving orders worth Rs 4.65 crore from the Defence Research and Development Organization (DRDO). The company also revealed that it has been declared the lowest bidder for additional orders totaling Rs 16.96 crore from DRDO, public sector units, the Indian

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CESC Arm Secures Rs 871 Crore Deal for Chandigarh Power Distribution

CESC Arm Secures Rs 871 Crore Deal for Chandigarh Power Distribution

Eminent Electricity Distribution Ltd, a wholly-owned subsidiary of CESC, has signed a deal worth Rs 871 crore to take over the electricity distribution company in the Union Territory of Chandigarh. The agreement follows the receipt of a ‘Letter of Intent’ (LOI) for acquiring 100% shares in the distribution entity responsible for supplying electricity in the

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SEBI Suggests External Oversight in Hiring Key Roles at Stock Exchanges and MIIs

SEBI Suggests External Oversight in Hiring Key Roles at Stock Exchanges and MIIs

SEBI has proposed new guidelines for hiring key management personnel (KMPs) at market infrastructure institutions (MIIs), including stock exchanges. The market regulator suggested involving an independent external agency and SEBI itself in the recruitment process for critical positions like heads of technology, operations, and compliance. These, among other proposals, have been set out in a

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Enviro Infra Engineers Raises Rs 195 Crore from Anchor Investors Before IPO

Enviro Infra Engineers Raises Rs 195 Crore from Anchor Investors Before IPO

Enviro Infra Engineers, a provider of water and wastewater management solutions, raised Rs 194.7 crore from institutional investors through its anchor book on November 21. The company aims to raise Rs 650.4 crore via its IPO, which includes a fresh issue of 3.86 crore equity shares worth Rs 572.46 crore and an offer-for-sale of 52.68

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SJVN Share Price in Focus After MoU with Rajasthan Government for 7 GW Renewable Projects

SJVN Share Price in Focus After MoU with Rajasthan Government for 7 GW Renewable Projects

SJVN shares are expected to attract attention on November 22 after the company signed a Memorandum of Understanding (MoU) with the Energy Department of the Government of Rajasthan. The MoU aims to develop renewable energy projects in the state, including 5 GW of pumped storage projects and 2 GW of floating solar projects. This collaboration

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Afcons Infrastructure Shares in Focus After Winning Rs 1,274 Crore Song Dam Project

Afcons Infrastructure Shares in Focus After Winning Rs 1,274 Crore Song Dam Project

Afcons Infrastructure is expected to see increased attention in the stock market on November 22 after receiving a Letter of Acceptance (LoA) from the Uttarakhand Project Development and Construction Corporation (UPDCC). The LoA is for civil and hydromechanical works related to the construction of a 130.6-meter-high concrete gravity dam as part of the Song Dam

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