On September 10, US defense giant Lockheed Martin announced an expanded partnership with Tata Advanced Systems Ltd (TASL) to advance the C-130J Super Hercules tactical airlifter project in India. The announcement follows recent discussions between Indian Defence Minister Rajnath Singh and the US to strengthen defense collaborations. The agreement outlines a framework for future business […]
Shares of Tata Power jumped by as much as 6% on September 10 after the company announced that its subsidiary, TP Solar, has begun commercial production of solar cells at India’s largest single-location solar cell and module manufacturing plant in Tirunelveli, Tamil Nadu. This move is a significant step toward boosting domestic manufacturing of solar
Tata Power Stock Surges 6% as Subsidiary Begins Solar Cell Production in Tamil Nadu Read More »
For the first time, India has surpassed China to become the top-weighted nation in the MSCI Emerging Market (EM) Investable Market Index (IMI). Indian equities now carry a weight of 22.27% in the index, edging out Chinese stocks, whose weighting has fallen to 21.58%. Despite China’s market capitalisation of $8.14 trillion being over 60% larger than
India Overtakes China as Top Weight in MSCI EM Index for the First Time Read More »
Shares of HG Infra Engineering are poised to attract attention on September 10 following the company’s recent contract win valued at Rs 781 crore from the Ministry of Road Transport & Highways (MoRTH). The contract involves the upgrade of a 10.63 km stretch of National Highway 47 (NH-47) in Gujarat, specifically from Narol to Sarkhej
HG Infra Gains Focus with Rs 781 Crore Contract to Upgrade NH 47 in Gujarat Read More »
Automotive components manufacturer Sona BLW Precision Forgings Ltd successfully raised Rs 2,400 crore through a Qualified Institutional Placement (QIP) of equity shares, as per a stock exchange filing made on September 9. The QIP saw strong participation from major institutional investors, with SBI Mutual Fund emerging as the largest buyer, acquiring 25% of the shares
Sona BLW Raises Rs 2,400 Crore via QIP; SBI Mutual Fund Invests Rs 600 Crore Read More »
In a significant boost to India’s defense capabilities, the Ministry of Defence (MoD) on September 9 signed a Rs 26,000 crore contract with Hindustan Aeronautics Limited (HAL) for the supply of 240 AL-31FP aero engines for the Su-30MKI fighter jets. The contract marks a crucial step in ensuring the long-term operational capability of the Indian
GMR Airports Infrastructure Ltd announced on 9 September that it has entered a major acquisition to buy a 10% stake in Delhi International Airport Limited from Fraport AG Frankfurt Airport Services Worldwide for a consideration of $126 mn. Inked through a Share Purchase Agreement between GMR Airports and the German-based Fraport AG, who has been
GMR Airports to Acquire 10% Stake in Delhi Airport for $126 Million Read More »
Electric two-wheeler manufacturer Ather Energy has filed for an Initial Public Offering (IPO), including a fresh issue of shares worth Rs 3,100 crore, according to a draft red herring prospectus submitted on September 9. The IPO also includes an offer for sale (OFS) of up to 22 million shares by investors and promoters. Founders Tarun
Ather Energy Files for Rs 3,100 Crore IPO, Including Fresh Issue Read More »
The Rs 6,560-crore IPO of Bajaj Housing Finance, which opened for bidding on September 9, was fully subscribed within the first four hours. The portion reserved for HNIs (Non-Institutional Investors) has already been oversubscribed, while the Retail Individual Investors (RII) category is nearing full subscription, having been 97% subscribed by 2 PM. Bajaj Housing Finance
On World EV Day, September 9, Mahindra & Mahindra’s electric vehicle arm, Mahindra Last Mile Mobility Limited (MLMML), introduced its upcoming commercial electric four-wheeler, the ‘e-ZEO’. The name stands for “Zero Emission Option,” reflecting the vehicle’s eco-friendly benefits. Designed to compete with internal combustion engine (ICE) vehicles in the small commercial vehicle (SCV) sector, the
Mahindra & Mahindra Unveils ‘e-ZEO’ Commercial Electric Four-Wheeler on World EV Day Read More »
