In a major development in the Philippines public transport sector, Ward wizard, a leading electric vehicle company, has secured a groundbreaking order worth $1.29 billion from Beulah International Development Corporation. The order aims to revolutionize public transport in the Philippines by introducing a fleet of electric vehicles, reducing carbon emissions and promoting sustainable transportation solutions.
Meanwhile, KEC Int has announced new orders worth Rs 1,061 crore across various business verticals, showcasing the company’s strong growth trajectory. Artson Engineering has also secured a significant order worth Rs 126 crore for engineering and construction at Guwahati International Airport, further solidifying its presence in the infrastructure sector.
In other news, Vakrangee has partnered with Tax2Win to offer income tax return filing services, GST registration, and other value-added services on a pan-India basis. IDBI Bank has received an income tax order determining a refund of Rs 2,701.6 crore for the assessment year 2016-17, providing a financial boost to the bank.
RVNL has emerged as the lowest bidder for a project of Southern Railways worth ₹156.47 crore, highlighting the company’s expertise in the railway infrastructure sector. Kotak Mahindra Bank has received RBI’s approval for a 70% stake sale in Kotak Mahindra General Insurance to Zurich Insurance, paving the way for strategic partnerships in the insurance industry.
Raymond is set to redevelop a residential project in Bandra with an estimated revenue potential of over Rs 2,000 crore, signaling the company’s commitment to real estate development. Gulsha Polyols has successfully conducted a trial run for a grain-based ethanol plant in Assam, showcasing its focus on sustainable energy solutions.
Sharda Motor plans to buy back up to 10,27,777 equity shares at INR 1,800 per share, demonstrating confidence in the company’s growth prospects. Lupin has signed a business transfer agreement with arm Lupin Life Sciences for its generics business in India, enhancing its market presence.
Adani Green is set to establish two wind farms in Sri Lanka, expanding its renewable energy portfolio in the region. HDFC AMC has approved an interim dividend of Rs. 70 per equity share, rewarding its shareholders for their continued support.
Railtel Corp has secured an order worth Rs 81 crore from the National Informatics Centre Services for ICT infrastructure, showcasing its expertise in digital solutions. Samvardhana Motherson and its subsidiary have been upgraded to “Baa3 Stable / Investment Grade” ratings by Moody’s, reflecting the company’s strong financial position.
Ami Organics has successfully concluded an inspection without any critical observations, underscoring its commitment to quality standards. EIH Associated Hotels is set to consider issuing bonus shares in an upcoming board meeting, providing additional value to its shareholders.
Godawari Power is considering a buyback of equity shares, while Adani Enterprises has achieved a significant market share in cargo handling. PFC has seen Maithan Alloys acquire shares worth Rs 101 crore, strengthening its position in the power finance sector.
Happy Forging has received in-principle approval for setting up a solar power plant with an investment of up to Rs 120 crore, showcasing its commitment to sustainable energy solutions. Thermax has seen Nalanda Capital sell a stake in the company, reflecting changes in its shareholder base.
Tata Motors has launched the Altroz Racer with prices starting from Rs 9.49 lakh, catering to the growing demand for premium hatchbacks. Petronet LNG faces challenges with draft regulations impacting its pricing strategy, highlighting the regulatory hurdles in the energy sector.
HDFC Bank has announced a reduction in its home loan rate for the 2-year tenure, providing relief to homebuyers. ICICI Bank has received an administrative warning from SEBI regarding outreach for ICICI Securities’ delisting, emphasizing the need for compliance with regulatory norms.
Borosil Renewables has approved raising up to Rs 450 crore via a rights issue of shares, signaling its expansion plans in the renewable energy sector. Dalmia Bharat has received reaffirmation in credit rating for its bank facilities, reflecting its strong credit profile.
MPhasis is likely to see a stake sale by BCP Topco IX Pte via block deals, indicating changes in its ownership structure. Dr. Reddy’s manufacturing unit in Andhra Pradesh has received observations from the US FDA, highlighting the importance of regulatory compliance in the pharmaceutical industry.
Jubilant Pharmova has completed an audit of its contract manufacturing facility in Washington, with the US FDA issuing observations. Gland Pharma has appointed Srinivas Sadu as Executive Chairman & CEO, underscoring its leadership transition.
Suzlon has seen an independent director resign citing corporate governance standards, reflecting the company’s commitment to transparency and accountability. Jindal Saw has received reaffirmation in credit rating for its non-convertible debentures, showcasing its strong financial position.
IIFL Finance has concluded an audit by the RBI-appointed auditor, addressing concerns raised in the case. Inox Wind has incorporated four wholly-owned subsidiaries, expanding its business operations.
Elgi Equipment’s joint venture in the USA is expected to be completed by May 31, 2024, highlighting its global expansion strategy. Uco Bank is set to hike MCLR on 3-month and 1-year tenures, reflecting changes in interest rates.
APL Apollo’s promoter entity has pared a stake for Rs 485 crore, signaling changes in its shareholding pattern. Max Estate has provided a corporate guarantee to its subsidiary company, showcasing its financial support.
PTC India has seen a 30% fall in net profit in Q4, reflecting challenges in the power sector. These developments across various industries highlight the dynamic nature of the business landscape and the companies’ efforts to adapt and grow in a competitive environment.
