Page 425 - Company News
SAIL to set up new rail mill with $800 million investment: Chairman Prakash
The company has decided to go ahead with the investment plan despite not having any order indication from its largest buyer Indian Railways
 "SAIL to set up new rail mill with $800 million investment: Chairman Prakash")
Mahindra Lifespace to raise Rs 1,500 cr via rights issue to cut debt, grow
Recently, Mahindra Lifespace reported a consolidated net loss of Rs 22.47 crore for the quarter ended December 2024
 "Mahindra Lifespace to raise Rs 1,500 cr via rights issue to cut debt, grow")
Hexaware Technologies IPO subscribed 2.7 times, driven by strong QIB demand
The company had allotted shares worth almost Rs 2,600 crore to anchor investors
 "Hexaware Technologies IPO subscribed 2.7 times, driven by strong QIB demand")
Delhi HC upholds govt claims in $1.7 billion gas dispute with RIL
"It is contended that the migrated gas alone was valued at about $1.5 billion as of June 30, 2016," the single judge order had noted
 "Delhi HC upholds govt claims in $1.7 billion gas dispute with RIL")
Financial services firm Navi appoints new CEOs as part of leadership rejig
Sachin Bansal steps down as Navi CEO; to serve as executive chairman of the group
 "Financial services firm Navi appoints new CEOs as part of leadership rejig")
Mahindra bags 30,179 bookings for two new electric models on opening day
The two models are priced between Rs 18.9 lakh and Rs 30.5 lakh (ex-showroom). Electric passenger vehicle sales in India stood at around 1 lakh units last year
 "Mahindra bags 30,179 bookings for two new electric models on opening day")
Hyundai India completes 25 years of exports; crosses 3.7 million mark
The company began exports in 1999 and has covered over 150 nations. It currently exports to more than 60 countries
 "Hyundai India completes 25 years of exports; crosses 3.7 million mark")
Meta to build a 50,000 km undersea cable spanning five continents
The addition of Meta's undersea cable will make it the 18th project with a landing station in India
 "Meta to build a 50,000 km undersea cable spanning five continents")
BHEL bags Rs 6,700 cr contract from Singareni Collieries for Telangana unit
Significantly, these units were also entrusted upon BHEL for Boiler-Turbine-Generator (BTG) scope and both units were commissioned by BHEL in 2016
 "BHEL bags Rs 6,700 cr contract from Singareni Collieries for Telangana unit")
Fortis Healthcare to acquire 228 bed hospital in Punjab for Rs 462 crore
Move aims to strengthen chain's Punjab cluster with over 1,000 beds
 "Fortis Healthcare to acquire 228 bed hospital in Punjab for Rs 462 crore")
Mahindra electric origin SUVs get bookings of over 30,000 units on day 1
The split between the XEV 9e and BE 6 is 56 per cent and 44 per cent, respectively. Deliveries will begin in the latter part of March 2025
Asian Paints to exit Indonesia in $5.6 million deal with Omega Property
The Indian paint maker said early last year that pursuing growth in Indonesia was "tough" due to profitability and cost control being under pressure
 "Asian Paints to exit Indonesia in $5.6 million deal with Omega Property")
Ola Consumer turns Ebitda profitable; revenue declines 21% in FY24
Full-year Ebitda (excluding discontinued operations) grew significantly to Rs 271 crore from Rs 87 crore last year
 "Ola Consumer turns Ebitda profitable; revenue declines 21% in FY24")
Poor governance: RBI replaces New India Co-op Bank's board for 12 months
Customers queued outside New India Cooperative Bank's branches in Mumbai on Friday seeking answers on the abrupt shut down of certain key services
 "Poor governance: RBI replaces New India Co-op Bank's board for 12 months")
Reliance acquires Velvette, the FMCG brand behind the sachet revolution
This acquisition aligns with Reliance's approach of combining tradition with new opportunities to ensure Indian brands grow in the market
 "Reliance acquires Velvette, the FMCG brand behind the sachet revolution")
Adani-backed firm among 3 finalists for India's small satellite rocket bid
That move has been the highest-profile piece of India's privatisation efforts, which the government hopes will help the country claim a greater share of the booming global satellite launch market
 "Adani-backed firm among 3 finalists for India's small satellite rocket bid")
Trident Group allocates Rs 1,000 cr capex on sustainability, modernisation
It is also looking to tap opportunities in HORECA (hotel, restaurant, and Cafe/Catering) and institutions, to increase market share in these sectors
 "Trident Group allocates Rs 1,000 cr capex on sustainability, modernisation")
Boeing partners with HPCL for sustainable aviation fuel ecosystem
With decarbonisation in focus, efforts are being made to reduce emissions and over the years, Indian carriers have operated some flights with a blend of SAF and traditional aviation turbine fuel (ATF)
 "Boeing partners with HPCL for sustainable aviation fuel ecosystem")
Venus Pipes Tubes Q3 results: PAT drops 22% to Rs 18 cr, revenue up 11%
For the first nine months of FY25, net profit rose by 14 per cent to Rs 69 crore while revenue was up by 21 per cent at Rs 700 crore
 "Venus Pipes Tubes Q3 results: PAT drops 22% to Rs 18 cr, revenue up 11%")
Delhi HC overturns $1.7 billion arbitration award in Reliance gas dispute
The case revolves around state-owned ONGC's claims that RIL drilled wells near their block boundaries, allowing gas to migrate from ONGC's fields to RIL's KG-D6 block between 2009 and 2013
 "Delhi HC overturns $1.7 billion arbitration award in Reliance gas dispute")