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CNBC TV18

GE T&D India promoters to sell 11.7% stake via OFS at ₹1,400 per share

The floor price of the offer will be ₹1,400 per equity share. The OFS involves up to 11.7% of the company’s equity share capital, which amounts to 30 million shares. Each share has a face value of ₹2. Shares of Ge T&D India Ltd ended at ₹1,705, up by ₹18, or 1.07%, on the BSE.

Business Standard

Mahindra & Mahindra launches 'All-New Veero' under LCV <3.5 t segment

Veejay Nakra, President - Automotive Division, Mahindra & Mahindra Ltd., said, The Mahindra Veero will further strengthen our leadership in the LCV <3.5 t segment. Built to help customers maximise earnings, it offers best-in-class payload, exemplary mileage, and superior maneuverability. With multiple segment-first technology and features, the vehicle ensures a premium cabin experience, unmatched safety, exceptional performance, and capability. The Mahindra Veero is designed to be a category disrupter ahead of all other offerings in this segment, truly living up to the promise of being 'Soch Se Aage'."

Business Standard

Kalpataru Projects International bags orders worth Rs 2,774 crore

Kalpataru Projects International on Thursday said the company and its arms secured orders worth Rs 2,774 crore. Kalpataru Projects International Ltd (KPIL), one of the largest Engineering & Construction companies listed in India along with its international subsidiaries have secured new orders/notification of awards of Rs 2,774 crore, a company statement said. These include new orders in the Transmission & Distribution (T&D) business in overseas markets and the EPC project for Extension of Airport from Airports Authority of India (AAI). The new orders also include Design & Build project for residential buildings in India. Manish Mohnot, MD & CEO, KPIL, said in the statement, "We are pleased with the continuous ordering momentum, especially in our T&D and Buildings and Factories (B&F) business." The order from the AAI will mark our entry into the growing domestic airport sector and further diversify our clientele, he added. The orders in the T&D and ...

Business Standard

Shubham Polyspin Ltd leads losers in 'B' group

Premier Energies Ltd, RPG Life Sciences Ltd, Globale Tessile Ltd and T.V. Today Network Ltd are among the other losers in the BSE's 'B' group today, 11 September 2024.

The Economic Times

India's semiconductor ambition grows with L&T's $300 mn bet

Larsen & Toubro Ltd. plans to invest over $300 million in a fabless chip company, aiming to design 15 products by year-end and start sales in 2027. This move aligns with India's push to boost local semiconductor capacity and reduce imports, supported by government subsidies.

CNBC TV18

KEC International bags ₹1,423-crore transmission line orders in Saudi Arabia

In August this year, KEC International secured new orders totalling ₹1,079 crore in its transmission & distribution (T&D) and cables divisions in India, the Middle East, and the Americas. Shares of KEC International Ltd ended at ₹989, up by ₹57.30, or 6.15%, on the BSE.

Mint

Didn't pay salary or granted ESOPs post-retirement to Sebi's Madhabi Puri Buch: ICICI Bank amid Congress' allegations

ICICI Bank Ltd denied Congress allegations of salary payments or the issue of any employee stock options (Esops) to Madhabi Puri Buch, according to the company's BSE filing on 2 September.

CNBC TV18

Bharat Dynamics risk-reward may turn favourable if the stock falls to these levels, advises chartist

The chartist believes that Bharat Dynamics Ltd. is a solid stock, but said that the timing isn't right at the moment.

Business Standard

Restaurant sector to turn around after tough Q1: Speciality Restaurants CMD

The restaurant industry is expected to turn around on the back of India's overall strong fundamentals after facing temporary headwinds such as high food inflation and people dining out less that hurt the sector in the first quarter, according to Speciality Restaurants Ltd CMD Anjanmoy Chatterjee. The company, which has a slew of brands such as Mainland China, Asia Kitchen by Mainland China, Episode One, Haka, and Sweet Bengal, among others and shut 29 outlets during the pandemic, is now focussing on profitable growth while expanding its footprint. "It should be clear that India not eating out or inflation not settling down is something which I don't believe in. India is better than many more countries...," Chatterjee told PTI. He was responding to a query on how long factors such as high food inflation and people dining out less after the diminishing of 'revenge eating' post pandemic that affected the restaurant industry, will continue to impact the sector. "It is a short-term ...

The Economic Times

Tata Steel acquires 178 crore shares in Singapore arm TSHP for USD 280 million

Tata Steel on Wednesday said it has acquired about 178 crore additional equity shares of T Steel Holdings Pte Ltd for USD 280 million, taking the total fund infusion into its Singapore-based arm to USD 1,337 million.

CNBC TV18

Temu owner PDD shares fall 29% after warning of slowing sales

Co-founder Chen Lei repeatedly stressed that PDD’s current trajectory wasn’t sustainable, at a time competitors such as ByteDance’s TikTok and Alibaba Group Holding Ltd. are vying for budget-conscious shoppers.

CNBC TV18

KEC International's order flow is 60% higher than last year so far; Stock jumps over 3%

KEC International Share Price | "The significant orders across Saudi Arabia, Oman and the UAE have substantially expanded our International T&D order book in the Middle East. With these orders, our year-to-date order intake has surpassed ₹8,700 crore, reflecting an impressive growth of 60% compared to last year,” Vimal Kejriwal MD & CEO of KEC International Ltd said.

Business Standard

Candytoy plans to raise 90 cr by diluting 10% stake at Rs 900-cr valuation

Candytoy Corporate, the manufacturer of candy toys for companies such as Colgate, Puma, MTR, Bournvita, Yellow Diamonds, Vistara Airlines and AirAsia among others, is aiming for around Rs 450 crore turnover by the next fiscal year, founder Director Gaurav Mirchandani has said. Moreover, to fund its growth plans, the Indore-based company has plans to raise 90 crore by divesting 10 per cent equity at a valuation of Rs 900 crore, he added. Besides, the bootstrap startup firm also plans to get listed on the stock exchange in the next three years, Mirchandani said. "We are diluting 10 per cent stake in the company through a VC. We are bringing Rs 90 crore which will be primarily invested this year to make sure that we are touching around Rs 400 crore to Rs 450 crore turnover by the next financial year," Mirchandani told PTI. Candytoy Corporate Pvt Ltd (CTC) had a turnover of around Rs 250 crore in FY 2023-24. "Now with 30 per cent y-o-y growth in orders for the last two years, we see t

Business Standard

National Insurance Company aims for Rs 100-200 cr profit in FY25

Public sector general insurer National Insurance Company Ltd (NIC) is aiming at a return to profit in the current 2024-25 fiscal, after incurring losses for nearly a decade, an official said on Saturday. The company is expecting Rs 100-200 crore profit this year, NIC Executive Director T Babu Paul said. The Kolkata-based insurer noted that a single-digit revision in policy tariffs is expected as medical treatment costs have increased, he said. "We were able to narrow down the loss to Rs 187 crore in FY'24 (2023-24) from a whopping Rs 3,865 crore loss in the previous year. We expect to post a net profit of Rs 100-200 crore, provided no catastrophe hits us in the remaining quarters," Paul said on the sidelines of the 6th edition of the Insurance Leader Meet & Excellence Awards organised by Assocham. He mentioned that the company's ability to reduce loss-making insurance products and implement other cost-saving measures has set the public sector insurer on a path to turnaround. "We .

Business Standard

Tata Steel acquires about 1.16 bn equity shares in Singapore-based T Steel

Tata Steel on Wednesday said it has acquired about 116 crore equity shares in its Singapore-based arm for USD 182 million. "Tata Steel acquired 1,15,92,35,669 ordinary equity shares of face value USD 0.157 each aggregating to USD 182 million (Rs 1,528.24 crore) in T Steel Holdings Pte Ltd (TSHP)," the company said in an exchange filing. Post this acquisition, TSHP will continue to be a wholly-owned subsidiary of the company, it added.

Business Standard

MapmyIndia CEO calls Ola Maps a gimmick, warns people to be cautious

Homegrown digital navigation firm MapmyIndia has questioned claims of Ola-parent ANI Technologies on developing a navigational map of India and called the announcement a "gimmick". In the first interview with PTI after sending a legal notice to Ola Electric, MapmyIndia CEO and Executive Director Rohan Verma questioned Ola's claim that the map has been supplied by a startup Geospoc Pvt Ltd, which was acquired and became a subsidiary of ANI Technologies, based on its financial records as developing a digital navigational map of large country like India requires huge investments and expertise. Verma denied any risk to the company's business due to Ola Maps as its quality is not good. "We don't see a business risk, because we don't see a good product coming from there. People are complaining left, right and centre, about their (Ola) updated cab app, their updated electric vehicle app, that their maps are pathetic and causing users problems. Everybody knows that these are more ...

The Economic Times

Larsen & Toubro bags 'significant' order from Hindustan Shipyard

Larsen & Toubro has secured a significant order, valued between Rs 1,000 crore and Rs 2,500 crore, from Hindustan Shipyard Ltd to construct part of two Fleet Support Ships (FSS) for the Indian Navy. The ships, crucial for logistical support, will be built at L&T's advanced shipyard in Kattupalli.

The Economic Times

L&T Semiconductor Technologies to acquire SiliConch Systems for Rs 183 cr

Larsen & Toubro (L&T) announced on Tuesday that it will acquire Bengaluru-based SiliConch Systems for Rs 183 crore to enhance its fabless semiconductor business. The deal, involving L&T Semiconductor Technologies Ltd., will be finalized by September, pending customary conditions. The acquisition includes an upfront payment of Rs 133 crore and a deferred Rs 50 crore over four years, contingent on certain targets.

The Economic Times

Birla Estates acquires 16.5 acre land in Pune; to build Rs 2,500 cr housing project

Birla Estates Pvt Ltd acquired a 16.5-acre land in Manjri, Pune for a housing project with a revenue potential of Rs 2,500 crore. It is a wholly-owned subsidiary of Century Textiles and Industries Ltd, part of the Aditya Birla Group. K T Jithendran, MD & CEO, stated Pune is a strategic market for them.