Indian Market

Ambuja Cements to Acquire 37.9% Stake in Orient Cement for Rs 8,100 Crore

Ambuja Cements to Acquire 37.9% Stake in Orient Cement for Rs 8,100 Crore

/ Indian Market /

Ambuja Cements Ltd has announced its decision to acquire a 37.9% stake in Orient Cement from the company’s promoters, at a price of Rs 395.4 per share. The deal is valued at an enterprise value of Rs 8,100 crore and will be funded through cash. This acquisition aligns with Ambuja Cements’ strategy to expand its

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TD Power Secures Rs 300 Crore Traction Motor Deal with European Client

TD Power Secures Rs 300 Crore Traction Motor Deal with European Client

/ Indian Market /

TD Power Systems has signed a five-year contract to supply traction motors to Europe, anticipating a business volume of Rs 300 crore from the agreement. The initial order, worth Rs 18 crore, is scheduled for delivery in April 2025. Shares of the company rose over 2% in mid-day trading on October 21 following the announcement.

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Waaree Energies IPO Fully Subscribed in Just Two Hours on Day 1, Retail Portion Oversubscribed by 117%

Waaree Energies IPO Fully Subscribed in Just Two Hours on Day 1, Retail Portion Oversubscribed by 117%

/ Indian Market /

Waaree Energies, a key player in the solar energy sector, launched its Rs 4,321 crore Initial Public Offering (IPO) on October 21, and it saw a great response. Within the first two hours of opening, the IPO was fully subscribed, receiving bids for 2.12 crore shares compared to the 2.1 crore shares available, according to

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Oberoi Realty Shares Climb 3% on Thane Project Success; Q2 Profit Surges 29%

Oberoi Realty Shares Climb 3% on Thane Project Success; Q2 Profit Surges 29%

/ Indian Market /

Oberoi Realty’s stock rose over 3% on October 21 after the company reported strong performance from its new Thane project, which saw gross bookings worth ₹1,348 crore within the first three days of launch. The Mumbai-based real estate developer also announced a 29% year-on-year increase in its consolidated net profit for the second quarter, reaching

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Adar Poonawalla Acquires 50% Stake in Dharma Productions for ₹1,000 Crore

Adar Poonawalla Acquires 50% Stake in Dharma Productions for ₹1,000 Crore

/ Indian Market /

Adar Poonawalla’s Serene Productions has entered into a strategic agreement to acquire a 50% stake in Karan Johar’s Dharma Productions and its digital content arm, Dharmatic Entertainment, for ₹1,000 crore. Karan Johar will retain 50% of his remaining ownership and continue as the executive chairman, while Apoorva Mehta will remain the production house’s chief executive

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PNC Infratech Plummets 20% After One-Year Ban from Road Ministry Tenders

PNC Infratech Plummets 20% After One-Year Ban from Road Ministry Tenders

/ Indian Market /

Shares of PNC Infratech dropped 20% to hit the lower circuit at ₹366 on October 21, following a one-year disqualification from participating in tenders issued by the Ministry of Road Transport & Highways. The ban, which came into effect on October 18, 2024, also extends to the company’s subsidiaries, PNC Khajuraho Highways and PNC Bundelkhand

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Garden Reach Shipbuilders Secures ₹491 Crore Contract from Ministry of Defence

Garden Reach Shipbuilders Secures ₹491 Crore Contract from Ministry of Defence

/ Indian Market /

Garden Reach Shipbuilders & Engineers (GRSE) will be in focus on October 21 after securing a significant Letter of Intent (LoI) from the Ministry of Defence. The ₹491 crore contract entails the design, development, construction, integration of equipment, testing, certification, and commissioning of an Acoustic Research Ship (ARS) within a 36-month timeline. Recent Contracts and

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RBL Bank Q2 FY25 Profit Drops 24% YoY to ₹222.52 Crore, Asset Quality Weakens

RBL Bank Q2 FY25 Profit Drops 24% YoY to ₹222.52 Crore, Asset Quality Weakens

/ Indian Market /

RBL Bank reported a 24.3% year-on-year decline in net profit to ₹222.52 crore for the second quarter of FY25, with a sharp sequential drop of 40.1%. The bank’s gross non-performing asset (NPA) ratio increased to 2.88% as of September 30, 2024, compared to 2.69% in the previous quarter and 3.12% a year earlier. Net NPA

RBL Bank Q2 FY25 Profit Drops 24% YoY to ₹222.52 Crore, Asset Quality Weakens Read More »

PG Electroplast Approves ₹1,500 Crore Fundraising via QIP, Plans EGM for Shareholder Approval

PG Electroplast Approves ₹1,500 Crore Fundraising via QIP, Plans EGM for Shareholder Approval

/ Indian Market /

PG Electroplast’s board has approved raising up to ₹1,500 crore through Qualified Institutional Placement (QIP) in a meeting on October 19. The board also approved the draft notice for an Extraordinary General Meeting (EGM) to seek shareholder approval for the QIP issuance through a special resolution. The proposed QIP of ₹1,500 crores is in compliance

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