Page 440 - Company News
OYO to invest $10 million in US-based G6 Hospitality's digital assets
OYO recently acquired iconic American budget hotel chain Motel 6 and Studio 6 brands from Blackstone Real Estate for $525 million in an all-cash transaction, as it eyes expansion in the US
 "OYO to invest $10 million in US-based G6 Hospitality's digital assets")
Torrent Group to acquire a majority stake in Gujarat Titans for Rs 7,500 cr
Indian Premier League franchise Gujarat Titans, currently owned by CVC Capital Partners, was acquired in 2021 for Rs 5,625 crore
 "Torrent Group to acquire a majority stake in Gujarat Titans for Rs 7,500 cr")
Simple Energy unveils upgraded electric scooter, seeks aggressive expansion
Bengaluru-based EV startup says its product is India's longest-range electric scooter
 "Simple Energy unveils upgraded electric scooter, seeks aggressive expansion")
US Congressmen slam Biden admin for 'misguided crusade' against Adani Group
The six Congressmen questioned why the DOJ proceeded with the indictment despite the allegations being centred in India, involving Indian officials
 "US Congressmen slam Biden admin for 'misguided crusade' against Adani Group")
Bajaj Group likely to make an investment of Rs 10,000 cr for hospital chain
Bajaj's move coincides with growth in Indian health care as the nation's wealth and insurance coverage increases and the number of people reaching retirement age accelerates
 "Bajaj Group likely to make an investment of Rs 10,000 cr for hospital chain")
THDC enters thermal energy sector, begins ops of 660-MW unit at UP plant
Until now, the company was generating 1,424 MW from hydro, 113 MW wind and 50 MW solar energy
 "THDC enters thermal energy sector, begins ops of 660-MW unit at UP plant")
Signature Global sales bookings jump 2.8 times to Rs 8,670 cr in Apr-Dec
Signature Global has given a sales guidance of Rs 10,000 crore for the entire 2024-25 fiscal as against Rs 7,270 crore in the preceding financial year
 "Signature Global sales bookings jump 2.8 times to Rs 8,670 cr in Apr-Dec")
Bangladesh seeks full power supply restoration from 1,600 MW Adani plant
The state-run Bangladesh Power Development Board (BPDB) said it had been paying $85 million a month to Adani to clear outstanding dues and has now told the company to resume supply
 "Bangladesh seeks full power supply restoration from 1,600 MW Adani plant")
NTPC eyes expansion, in talks with foreign firms for nuclear buildout
Prime Minister Narendra Modi's government is seeking to revive interest in India's nuclear power potential, promising easier regulations for suppliers and more than $2 billion of public resources
 "NTPC eyes expansion, in talks with foreign firms for nuclear buildout")
Avendus Capital attracts domestic insurers hunting for private funds
Avendus Capital, the investment bank, which is backed by KKR & Co, is raising as much as Rs 3,000 crore ($343 million) for its Future Leaders Fund III
 "Avendus Capital attracts domestic insurers hunting for private funds")
Space tech firm Digantara eyes $30 million revenue with US expansion
The Bengaluru-based startup plans to invest $10 million to $15 million over the next six to eight months to establish a spacecraft manufacturing and space optics production facility in Colorado
 "Space tech firm Digantara eyes $30 million revenue with US expansion")
HPCL plans to raise Vizag oil refinery capacity by 20% to meet fuel demand
India is raising its crude processing capacity as the world's third-largest oil importer and consumer wants to be a major global refining hub while its fuel demand is expected to continue growing
 "HPCL plans to raise Vizag oil refinery capacity by 20% to meet fuel demand")
Coffee Day Enterprises negotiates settlement with IDBI Trusteeship
On August 14, 2024, the National Company Law Appellate Tribunal (NCLAT) stayed the insolvency proceedings initiated against CDEL by NCLT over the plea of DBI Trusteeship Services Ltd (IDBITSL)
 "Coffee Day Enterprises negotiates settlement with IDBI Trusteeship")
GAIL revives plan to buy US LNG as Trump ends ban on export permits
GAIL had to stall its 2023 process to buy a stake of up to 26 per cent in an LNG plant in US after then-President Biden paused approvals for pending and future applications to export LNG
 "GAIL revives plan to buy US LNG as Trump ends ban on export permits")
Hudco raises Rs 2,910 crore; Sidbi garners Rs 6,000 crore through bonds
Cut-offs rise by 7-10 bps since rate cut
 "Hudco raises Rs 2,910 crore; Sidbi garners Rs 6,000 crore through bonds")
Market regulator Sebi bars Kalahridhaan Trendz from securities market
Sebi conducted an inspection of the small and medium enterprise (SME) listed on NSE's SME exchange after receiving a complaint from HDFC Bank regarding a loan repayment default
 "Market regulator Sebi bars Kalahridhaan Trendz from securities market")
Religare saga: Rashmi Saluja plans to stay on until open offer ends
Shareholders have right to remove/appoint directors, say lawyers
 "Religare saga: Rashmi Saluja plans to stay on until open offer ends")
To reduce reliance on Nvidia, OpenAI to finalise its own chip design soon
The ChatGPT maker is finalising the design for its first in-house chip in the next few months and plans to send it for fabrication at Taiwan Semiconductor Manufacturing Co
 "To reduce reliance on Nvidia, OpenAI to finalise its own chip design soon")
PE/VC pullback brings dark clouds over Indian climate-tech companies
Funding fell 61% to $1.3 bn in 2024
 "PE/VC pullback brings dark clouds over Indian climate-tech companies")
Indian Hotels set to add another 'Taj' to Mumbai, to invest Rs 2,500 crore
The construction of the Taj Bandstand, which will house 330 rooms, 85 apartments, and convention spaces, is expected to commence in 2025
 "Indian Hotels set to add another 'Taj' to Mumbai, to invest Rs 2,500 crore")