Shares of all Adani Group companies will continue to remain in focus, following charges from US prosecutors against Gautam Adani. Adani has been accused of participating in a scheme that allegedly involved promising to pay over $250 million in bribes to Indian government officials to secure solar energy contracts. The charges have intensified scrutiny on Adani-owned companies, which have already experienced a sharp decline, losing ₹2.6 lakh crore in market capitalization to date. Meanwhile, reports said that Kenyan President William Ruto on Thursday scrapped controversial deals with India’s embattled Adani Group over Nairobi’s Jomo Kenyatta International Airport (JKIA) and a state-owned electricity service.
NSE Investments is poised to divest up to 20.31 per cent of its stake in Protean eGov Technologies offer for sale (OFS) window. The OFS will include a base issue of 10.16 per cent equity, along with a green shoe option to sell an additional 10.16 per cent equity if the issue gets strong bids. The floor price for the OFS has been set at ₹1,550 per share, providing potential investors an entry point as NSE Investments reduces its holdings in the company.
The Department for Promotion of Industry and Internal Trade (DPIIT) has given a go-ahead to Hinduja Group firm IIHL for acquisition of debt-ridden Reliance Capital Ltd (RCAP), sources said. DPIIT approval was required as some of the shareholders of IndusInd International Holdings Ltd (IIHL) are residents of Hong Kong, a special administrative region controlled by China.
Tata Power on Thursday said it has signed an initial pact with Asian Development Bank (ADB) to evaluate financing worth USD 4.25 billion for its several strategic projects. A memorandum of understanding has been signed with ADB at Baku, Azerbaijan, Tata Power said in a statement.
Afcons Infrastructure has received Letter of acceptance dated November 21 from Uttarakhand Project Development and Construction Corporation Ltd for Civil Works including HM Works for Construction of 130.6 m High Concrete Gravity Dam and Appurtenant Works across River Song of Song Dam Project in Dehradun. The bid project cost ws ₹1,274 crore and has to be executed within 60 months.
Kotyark Industries, India’s only pure play listed biodiesel Company, has been allocated the tender for supply of 48,381 KL of Biodiesel between October 2024 to September 2025. The company will be supplying biodiesel to IOCL, BPCL and HPCL.
BSE and the National Stock Exchange have issued ‘No objection’ letter for merger between Raymond and Raymond Realty. Raymond Group is restructuring to form a conglomerate with three business verticals: Raymond Ltd for auto components and aerospace and defense, Raymond Lifestyle for lifestyle (to be listed soon), and Raymond Realty for real estate.
The Georgia Department of Labor in the USA has imposed a penalty of $3.28 million on Infosys. The Company has received an intimation from the Georgia Department of Labor towards levy of penalty and pending tax payment for the period from Q3’2019 to Q1’2024 (Calendar Year). Infosys is in the process of seeking clarifications regarding the outstanding tax amounts and the associated penalties.
Life Insurance Corporation of India (LIC) has increased its stake in LTIMindtree, raising its holding from 5.033 per cent to 7.034 per cent. According to a disclosure by the latter, the stake hike happened between March 20 and November 19.
Hyundai Motor India has signed a Power Purchase and Shareholder Agreement with Fourth Partner Energy to establish two renewable energy plants in Tamil Nadu. This strategic partnership aims to enhance HMIL’s renewable energy portfolio and transition to 100 per cent renewable electricity across its manufacturing operations by 2025. HMIL currently fulfills 63 per cent of its energy requirements using renewable sources (as on June 2024), and aims to reach the 100 percent mark. Through this agreement, the company will invest ₹38 crore in the development of these facilities, reinforcing its commitment to sustainability.
Mphasis informed the exchanges that it has been appointed as the ‘Official Digital Partner’ of the MoneyGram Haas F1 Team, marking the beginning of a multi-year, technology-focused partnership. This collaboration aims to leverage the company’s expertise to enhance the team’s on-track performance and improve operational efficiency off the track, signaling a strategic alliance in the realm of Formula 1 innovation.
SJVN has signed a memorandum of understanding (MoU) with the Rajasthan government’s Energy Department to develop extensive renewable energy projects across the state. The agreement, announced on Tuesday, details SJVN’s commitment to invest in 5 GW of pumped storage capacity and 2 GW of floating solar projects.
NLC India Ltd, ACC Ltd, and JSW Energy Utkal Ltd are among the five companies that have bagged five mines on the first day of the tenth round of commercial coal mine auction, according to an official statement issued on Thursday. While ACC Ltd bagged a coal mine in Madhya Pradesh, NLC India Ltd and JSW Energy Utkal Ltd won one block each in Odisha. Two other companies that won coal blocks are Mineware Advisors Pvt Ltd and Shreeji Nuravi Coal Mining and Trading Pvt Ltd. A total of nine blocks have been put on sale in the tenth round of auction.
Nippon Life India Asset Management has announced the signing of a definitive agreement with One Place Commercials Private Limited to acquire commercial office premises in Mumbai. The new office space, located at One Lodha Place in Lower Parel, spans a carpet area of 52,162 square feet, marking a strategic expansion in a prime business location.