News & Announcement

Long term fund-based Cash credit (Rs 48 crore) - [ICRA]A+; placed on rating watch with negative implications

L... More>ong term/Short term Fundbased/Non-fund based (Rs 55 crore) - [ICRA]A+; placed on rating watch with negative implication/[ICRA]A1; placed on
rating watch with negative implications


Short-term non-fund based Letter of credit (Rs 29.80 crore) - [ICRA]A1; placed on rating watch with negative implications<Less

Knowledge Marine & Engineering Works, working through its subsidiary `Knowledge Dredging Co. W.L.L.` situated in Bahrain, has been granted a commercial registration with License by the Bahrain ... More>Ministry of Industry and Commerce, specifically for the extraction of marine sand.

The commencement of operations is scheduled for January 2024.

"Securing the License for the extraction of marine sand marks a significant milestone for our company, making us the first Indian entity in Bahrain to achieve this recognition. Attaining this position in Bahrain underlines our company`s global competence and showcases our ability to compete on an international scale. Moreover, the License also underscores our execution capabilities in the mining and supply of sand, making a direct contribution to our revenue. This contribution to our topline is set to commence in January 2024," said the company.

With this order, the

Long term bank facilities (Rs 5513 crore) - ICRA AA+; Stable (reaffirmed)
Long term bank fac

Mphasis announced its adoption of Amazon Web Services (AWS) Skill Builder, an online digital learning center, to invest in talent development of employees through upskilling and reskilling on speci... More>alized technologies.

AWS Skill Builder will help Mphasis provide its workforce with the cloud skills necessary to successfully drive digital transformation for its clients globally.

Expanding on Mphasis`s cloud expertise, the diverse learning experiences in AWS Skill Builder have allowed the company to seamlessly translate intricate training concepts into practical solutions for its technical and non-technical employees. Moreover, it has proven useful in identifying the requisite cloud skills training, learning cloud-related proficiencies, and facilitating the seamless management of learners` educational paths

Ramco Systems announced that its U.S. based, wholly owned subsidiary Ramco Systems Defense and Security Incorporated (RSDSI), has completed the Phase I implementation of its Aviation M&E MRO Su... More>ite V5.9 at General Atomics Aeronautical Systems, Inc. (GA-ASI), the world leader in unmanned aerial systems. Ramco Aviation Suite provides GA-ASI and its customers with end-to-end visibility of all aspects of GA-ASI`s new SkyGuardian Global Support Solutions (SGSS) program.

With modules for Engineering & CAMO, Journal Log Entry Management, Maintenance, Supply Chain Management, General Accounting, as well as Safety, Compliance & Quality, Ramco`s one-stop solution enables GA-ASI and its customers to track supply chains and maintenance from start-to-finish, at a global level. By utilizing the data gathered from its customers, the comprehensive suite also empowers GA-ASI to enhance its product engineering, optimize supply chain for parts and services, and improve overall customer satisfaction. In addition, Ramco`s next-gen innovations like its Ramco Anywhere mobile apps, hubs and digital task card will facilitate part pooling and optimization of maintenance execution for GA-ASI.

Power Grid Corporation of India has been declared as successful bidder under Tariff Based Competitive Bidding to establish Inter-State Transmission System Project for �Transmission Scheme for Int... More>egration of Renewable Energy Zone (Phase-II) in Koppal-II (Phase-A & B) and Gadag-II (Phase-A) in Karnataka� on Build, Own Operate and Transfer (BOOT) basis.

The Letter of Intent (LoI) has been received by Power Grid Corporation of India on 5 December 2023.

The aforesaid Project comprises establishment of a new 765/400kV Koppal- II Pooling Station; a new 400/220kV Gadag- II Pooling Station; 2 nos. of 765kV D/c transmission lines traversing in the state of Karnataka; 1 no. of 400kV D/c transmission line traversing in the state of Karnataka as well as associated bay extension works at Narendra and Raichur Substations.

Under the new five-year agreement, HCL Technologies will lever

Average client funding book stood at Rs 1855 crore in N... More>ovember 2023, lower by 1.6% on month-on-month basis.


Average daily turnover in overall equity segment stood at Rs 34,36,300 crore in November 2023, jumping 9% on month-on-month basis.


In November, the retail turnover market share in overall equity segment jumped 19 bps to 26.7% on month-on-month basis.<Less

Un... More>der the MOU, IndianOil will share the technology of "Surya Nutan" with EKI to enhance its production and distribution, supported by carbon finance while contributing towards the betterment of society and environment. EKI will oversee the end-to-end management of `Surya
Nutan` encompassing manufacturing, marketing, installation, and the provision of after-sales services. This will be achieved by leveraging carbon finance, corporate social responsibility, or any other similar means.<Less

Through this collabora... More>tion, EV users will be able to seamlessly use both VIDA and Ather Grids across the country. The combined network will cover 100 cities with over 1900 fast charging points.


The Bureau of Indian Standards (BIS) recently approved Light Electric Combined Charging System (LECCS), India`s first-ever indigenously developed AC and DC Combined Charging connector standard for light electric vehicles. This combined network, which utilises the approved charging system, will be the largest EV charging ecosystem in the country.<Less

Long term bank loan ratings (Rs 2325 crore) - ACUITE C
Long term bank loan ratings (Rs 120 crore)

i) Term loan of Rs.1750 crore for the purpose of repayment of existing loans from banks as a

MOIL achieved Manganese (Mn) ore production of 1.62 lakh MT in November, 2023, which is 35% higher y-o-y.

In the current FY also, the company has registered a remarkable growth of 43% y-o-... More>y, with production of 10.9 lakh tonnes of manganese ore in Apr-Nov, 23.

On the sales front too, the company continued to scale impressive growth, which was 18% and 52% during November, 2023 and Apr-Nov, 23 respectively.

In the recent past, the company has been giving utmost thrust to exploration. In November, 2023 alone, MOIL accomplished core drilling spanning 7551 meters, marking a two-fold increase compared to November, 2022. During Apr-Nov, 23 period, MOIL has effectively carried out core drilling of 49,389 meters, showcasing a 2.5-fold rise over CPLY.

The expansion is expected to be completed ... More>by the end of Q4 of FY25, post which commercial production will commence.


The company is setting up state of the art cold rolling mill and steel sheet galvanizing facility to cater the in house requirement of raw material.


The total Capex for this expansion will be ~Rs.30 crore and will be funded through internal accruals of the company.<Less

Indian Energy Exchange achieved 9,136 MU overall volume, including 7.55 Lac Renewable Energy Certificates (RECs) (equivalent to 755 MU), marking a 17.5% increase on YoY basis. IEX achieved 8,371 MU... More> total electricity volume in November 2023, registering an increase of 13% on YoY basis.

According to government data published in November `23, the country`s energy consumption reached 120 billion units, representing an 8.5% increase on a year-on-year basis. The Market Clearing Price in Day Ahead Market during November �23 was Rs. 3.98/unit, down 13% year-on-year, due to a combination of factors including lower demand due to festive season, temperature drop and much improved sell side liquidity on the Exchange platform.

Price on the exchange has been experiencing a downward trend and average monthly price is currently at its lowest levels this financial year, offering an opportunity for Discoms and industrial consumers to optimize their power procurement costs.

ELECTRICITY MARKET: DAY- AHEAD, TERM- AHEAD & REAL-TIME MARKET

The Day-Ahead Market (DAM) volume was at 5,144 MU in November `23, as compared to 5,087 MU in November `22.

The Real-Time Electricity Market (RTM) volume increase to 2,359 MU in November �23, from 1,407 MU in November`22, registering an increase of 68% YoY.

The RTM segment enables distribution utilities and industries with greater flexibility and efficient optimisation of portfolios by balancing their power demand-supply on a real-time basis.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 679 MU during November `23, higher by 24 % on YoY basis.

GREEN MARKET: GREEN DAY-AHEAD & GREEN TERM-AHEAD MARKET

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 189 MU volume during November`23.

The Green Day-Ahead Market (G-DAM) achieved 182 MU volume during the month, with a weighted average price of Rs 5.05 per unit. The segment saw participation from 182 market participants during the month.

The Green Term-Ahead Market (G-TAM) achieved 7 MU volume in November �23, with average monthly price of Non-Solar- Rs 6.22/unit.

RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)

A total of 7.55 lac RECs (equivalent to 755 MU) were traded in the trading sessions held on 08th November `23 and 29th November`23, at a clearing price of Rs. 375/REC for both the sessions. REC cleared volume in November`23 increased by 103% on YoY basis.

The next REC trading sessions at the Exchange are scheduled on 13th December `23 and 27th December`23.

ENERGY SAVING CERTIFICATES (ESCerts)

Trading of ESCerts for PAT Cycle-ll officially concluded on October 30, 2023, with a total coverage of 544 DCs and 40 successful trading sessions. A total of 13.2 lakhs ESCerts were traded on IEX in PAT Cycle-ll.

The company`s subsidiary, Svaks

1) Reaffirmed long term credit rating at [ICRA] AA
2) Reaffirmed short-term credit rating at [ICRA] A1+
3) Revised outlook on long term cr

The existing bankers support of the Company reached to the count of nine as ... More>Kotak Mahindra Bank got added to the list by sanctioning a term loan of Rs. 10 crore. As of today, the Company is backed by 30 lenders which includes 9 leading banks such as HDFC Bank, Federal Bank, State Bank of India and now, Kotak.


Additionally, the Company also listed its Non-Convertible Debentures (NCD) amounting to Rs. 25 crore for the first time on BSE to diversify its funding profile. With the addition of listed NCD, the company will be able to tap resources through retail debt participation.<Less

This prestigious recognition is a testam... More>ent to Happiest Minds` unwavering commitment to creating an inclusive, innovative, and high-trust workplace culture. The company`s placement among the Top 50 list is reflective of its excellence in people practices, employee well-being, and responsible leadership.


Great Place to Work� conducts a rigorous evaluation process that includes an assessment of employee experience through their proprietary Trust Index� Survey and a Culture Audit� that evaluates the organization on various parameters, including leadership, fairness, respect, and camaraderie.<Less

In November 2023,  Adani Ports & Special Economic Zone ... More>;(APSEZ) recorded strong cargo volumes of around 36 MMT, a robust 42% year-on-year increase. Growth was witnessed across all three broad cargo categories � dry bulk (over 60% Y-o-Y), containers (over 26%) and liquids and gas (over 23%).

In the initial eight months of FY 24 (April-November 2023), APSEZ handled around 275 MMT of cargo, a healthy 21% Y-o-Y growth. This marks over 70% of the top-end of its full-year guidance range of 370-390 MMT.

Adani International Container Terminal (AICTPL), the joint venture terminal at the Adani Ports and Special Economic Zone in Mundra, achieved a momentous milestone by successfully handling over 3,00,000 containers in the month of November. This remarkable accomplishment is not only a significant achievement for APSEZ but also marks a historic event in the annals of Indian maritime history.

AICTPL created a national record by handling 3,00,431 TEUs across 97 vessels in November 2023, breaking its own record of 2,98,634 TEUs in March 2021, by handling approximately 10,000 TEUs every day.

Two other ports of APSEZ, Dhamra and Ennore, also recorded their highest ever monthly volumes, handling 3.96 MMT and 65,658 TEUs respectively.

Logistics volumes continue to witness record growth with year-to-date (YTD) rail volumes of around 379,000 TEUs (over 23% YoY) and GPWIS (general purpose wagon investment scheme) volumes of 12.3 MMT (over 44% YoY). The highest-ever monthly GPWIS volumes were recorded in November 2023 at 1.72 MMT.

Apparel Group, a global fashion and lifestyle conglomerate, has exclusively partnered with Shoppers Stop, to expand the presence of one of America`s #1 fragrance brands - Bath & Body Works into the

BLS International Services has been awarded a substantial order from the State Health Agency � Ayushman Bharat-Pradhanmantri Jan Arogya Yojana, Uttar Pradesh. This strategic collaboration involve... More>s the processing of Ayushman Cards on the National Health Authority (NHA) IT Platform.

BLS International Services has earned this prestigious project as an empanelled service provider for the National Health Authority, solidifying its position as a trusted partner in delivering essential e-governance services. The agreement reached with the National Health Authority is set to remain in effect perpetually, showcasing the enduring commitment and expertise that BLS International brings to the table.

The primary objectives of this collaborative initiative are centered around streamlining the processing of Ayushman Cards in a time-bound manner, expanding outreach to beneficiaries, and contributing to the growth of the Ayushman ecosystem. By strategically deploying trained manpower to verify the details and authenticity of Ayushman, we aim to facilitate a more inclusive and convenient processing of Ayushman Cards. This effort is designed to ensure the seamless integration of Ayushman services into the lives of beneficiaries, enhancing overall accessibility and convenience.

The districts covered under this initiative include Auraiya, Etawah, Kanpur Dehat, Pratapgarh, Kanpur Nagar, Prayagraj, Farrukhabad, Fatehpur, Kannauj, and Kaushambi.

Long term fund based limit (Rs 105 crore) - ICRA A; Stable (reaffirmed)
Short term non fund based limit (Rs

The details of the aforesaid new orders are as follows:
-

63 moons technologies unveiled its path-breaking innovative technology initiatives in the domains of Cybersecurity, LegalTech, and Web 3.0 and Blockchain.

These emerging technology domains ... More>having a market potential of trillions of dollars, are set to create a paradigm shift in their respective areas, and revamp public lives as we know them today. These domains will define the fabric of the future and 63 moons technologies limited is geared to weave its magic with the following tech initiatives: 63 SATS (Cybersecurity), QiLegal (LegalTech), and 3.0 Verse (Web 3.0 and Blockchain).

63 SATS : Cybersecurity is crucial to safeguard an estimated annual risk of USD 10.5 trillion by 2025. Given the scale and viciousness of cyberattacks, cybersecurity is no longer a good-to-have, but a must-have for both corporate entities and individuals. In this regard, 63 SATS is a robust defence mechanism against modern-day cyberattacks.

63 SATS is a dedicated Strategic Business Unit for everything related to cybersecurity. It is a state-of-the-art and avant-garde cybersecurity technologies end-to-end products and solutions provider whose services include, but are not limited to, Red Team Assessment, External Threat Exposure, and Technical Surveillance Counter Measures.

3.0 Verse : As the real-world and financial assets witnessed tremendous growth to reach USD 1,600 trillion between 2000 and 2021, the potential for tokenisation of these assets is humongous by 2030. Soon, the digital economy will surpass the physical economy and therein lies the opportunity. For instance, Blockchain is established, but how enterprises leverage it will play a huge role in establishing their presence. And 3.0 Verse is a key player in this arena.

 The 3.0 Verse platform seamlessly combines the role of DeFi and CeFi multi-platform aggregator driven with AI-ML, a 24x7 global 3.0 TV, 3.0 Wire, and the world`s first 3.0 University with a community of 3 million users.

QiLegal : The size of the global LegalTech market is estimated to cross USD 100 billion in a decade. To cater to this market 63 moons technologies has introduced QiLegal, which is a robust cloud-based platform for practice management, combined with various integrated tools for a complete legal ecosystem.

QiLegal is envisioned to digitise the legal framework with modern-day technology for everyone connected with the judicial network. It will overhaul and empower the justice system and help it function at lightning speed with solutions such as Virtual Courts, Online Dispute Resolution (ODR), AI-enabled Drafting, and much more.

Pursuant to the scheme:
i) Scient... More>ific and Industrial Products Business of the Company stands demerged into Klass Pack;


ii) Borosil Technologies stands amalgamated into Klass Pack and accordingly ceases to be a subsidiary of the Company; and


iii) Klass Pack as well as Goel Scientific Glass Works also ceases to be subsidiaries of the Company<Less

Escorts Kubota Agri Machinery Business Division in November 2023 sold 8,258 tractors, registering a growth of 3.7% as against 7,960 tractors sold in November 2022.

Domestic tractor sales in... More> November 2023 were at 7,855 tractors registering a growth of 6.7% as against 7,359 tractors sold in November 2022. Overall festive demand has been good barring few states where demand was marginally impacted due to scanty and/or unseasonal rainfall. Keeping in view the fact that Domestic Tractor Industry has been almost at its record levels and given generally positive macroeconomic factors, we expect current momentum to continue in balance of the year too.

Export tractor sales in November 2023 were at 403 as against 601 tractors sold in November 2022.

Total sales include domestic sales of 68,

Tata Motors sales in the domestic & international market for November 2023 stood at 74,172 vehicles, compared to 75,478 units during November 2022, recording a decline of 1.7%.

Total s... More>ales include domestic sales of 72,647 vehicles (lower by 1% YoY basis). Domestic sales include commercial vehicle sales of 26,579 vehicles (lower by 3% YoY basis) and passenger vehicle sales of 46,068 vehicles (0% YoY basis).

Exports stood at 1525 vehicles, lower by 24%. Commercial vehicle exports declined 11% to 1450 units and passenger vehicle exports declined 81% to 75 units.

Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) for Ivabradine Tablets, 5 mg and 7.5 mg (USRLD: Corlanor� Tablets, 5 mg and 7.5 mg). ... More>>

Ivabradine is indicated to reduce the risk of hospitalization for worsening heart failure in adult patients with stable, symptomatic chronic heart failure with reduced left ventricular ejection fraction. It is also used in children aged 6 months and older for the treatment of stable symptomatic heart failure due to cardiomyopathy.

The drug will be manufactured at the group`s formulation manufacturing facility at Ahmedabad SEZ, India.

Zydus was one of the first ANDA applicants to submit a substantially complete ANDA with a paragraph IV certification for Ivabradine Tablets, 5 mg and 7.5 mg and therefore may be eligible for 180 days of shared generic exclusivity for Ivabradine Tablets, 5 mg and 7.5 mg.

Ivabradine Tablets, 5 mg and 7.5 mg had annual sales of USD 136.5 mn in the United States (IQVIA MAT October,2023).

... More>Spread across 14 acres on the Whitefield-Sarjapur Road, Brigade Sanctuary is a joint development comprising 1275 units with 1, 3 & 4 bedroom homes and has a gross revenue potential of Rs. 2,000 crore. The total development area will be around 2 million sq. ft.


Strategically located with convenient access to Sarjapur, Varthur, Whitefield, and the outer ring road, the development is designed with meticulous attention to comfort, functionality, and aesthetics. The project is uniquely situated amidst renowned international educational institutions and is in close proximity to the upcoming Dommasandra metro station.<Less

Total sales comprise of domestic sales of 2,57,744 units (69% u

Overnight - 7.95%
One month - 8.25%
Three month - 8

TVS Motor Company recorded monthly sales of 364,231 units in November 2023 with a growth of 31% as against 277,123 units in the month of November 2022.

Total two-wheelers registered a growt... More>h of 34% with sales increasing from 263,642 units in November 2022 to 352,103 units in November 2023. Domestic two-wheeler registered growth of 50% with sales increasing from 191,730 units in November 2022 to 287,017 units in November 2023.

Motorcycle registered a growth of 19% with sales increasing from 145,006 units in November 2022 to 172,836 units in November 2023. Scooter registered a growth of 62% with sales increasing from 83,679 units in November 2022 to 135,749 units in November 2023.

The Company sold 16,782 units in November 2023 as against sales of 10,056 units in November 2022. The booking pipeline for TVS iQube continues to be healthy.

The Company`s total exports registered sales of 75,203 units in November 2023 as against 84,134 units registered in November 2022. Two-wheeler exports registered sales of 65,086 units in November 2023 as against 71,912 units in November 2022. Customer retails continue to grow in the IB markets.

Three-wheeler of the Company registered sales of 12,128 units in November 2023 as against 13,481 units in November 2022.

1) Procurement and installation of 4,000 Fast Electric Vehicle Chargers at an estimated ca

As a part of this e... More>ngagement, LTIMindtree will transform Metasphere`s next-generation wastewater monitoring solution portfolio, and enable scalable delivery and platform to their customers.


Metasphere, part of Grundfos, provides smart network management solutions to the global utility industry. The company helps customers prevent leaks and spills for a cleaner, greener world and has deployed more than 200K sensors for their customers worldwide. By leveraging cutting-edge technology, the company offers intelligent, innovative, all-in-one wastewater application solutions. These solutions provide full network
visibility, performance and forecasting that reduce telemetry ownership cost for customers to manage timecritical remote assets and system.<Less

Tata Tele Business Services (TTBS) has collaborated with Truecaller, the leading global communications platform. This collaboration introduces the innovative �Verified Business Caller Id Solution... More>` to TTBS enterprise customers making a significant advancement in secure and efficient communication by providing an additional layer of identity, credibility, and spam prevention.

Establishing trust between enterprises and their customers is paramount in today`s digital era. The Verified Business Caller ID solution suite by Truecaller promises to transform how TTBS enterprise customers interact with their users. Truecaller, through its Verified Business Caller ID solution, will enable users to instantly recognize verified business calls, displaying the brand and logo with precision. The solution ensures that when businesses call their customers, a distinctive green badge accompanies the caller ID, reassuring the authenticity of the business. This verified identity fosters an environment of trust where customers can confidently recognize and engage with legitimate callers.

Brand protection measures are put in place to maintain the integrity of their verified identity, restricting access to editing the name, logo, and tags associated to avoid brand impersonation. Moreover, the advanced and dynamic features such as Call Reason, Video Caller ID, Call Feedback and other rich media offerings enhancing customer engagement.

Through this strategic eng... More>agement, Infosys and Shell will bring together their capabilities in Digital and Energy, respectively, and an eco-system of partners, to create an integrated offering for green data centers.
This will be achieved by leveraging Shell Immersion Cooling Fluid, a synthetic, single-phase immersion cooling fluid designed to maximise the energy efficiency and performance of data servers and IT components, and Infosys Topaz, an AI-first set of services, solutions and platforms using generative AI technologies.<Less

Furthermore, a joint v... More>enture is envisaged to be established between Delta & PLL with a capital outlay of Rs 250 crore where Delta will be a majority stakeholder. This JV will help Delta expand into the sector.


The need for expansion in the real estate sector stems from the fact that Delta has in the past successfully executed several projects and exited profitably coupled with its promoter having over 35 years of experience in this industry. Considering that Delta`s flagship project at Dhargalim, Goa has been deferred and given its free reserves and cash flows, the company sees a compelling opportunity for long term growth in this
sector. Delta, being the majority stakeholder, through its JV proposes to execute projects mainly in Mumbai and Goa and will continue with its philosophy of running a debt free company.<Less

1. Proposal of equity investment in Hindustan Power Exchange (HPX), for an amount upto Rs 14.25 crore (i.e. u... More>pto 19% of proposed equity share capital of Rs 75.00 crore of HPX).


2. Revision in Market Borrowing Programme of the Company under different debt segments with interchangeability amongst various instruments including Bonds/ Debentures, Term Loans, External Commercial Borrowings, Commercial Papers etc. on private/ public
placement basis from Rs 1,20,000 crore to Rs 1,50,000 crore for FY 2023-24. The funds under the said revised market borrowing programme will be raised, from time to time, during the financial year 2023-24, with the approval of Competent Authority as per powers delegated in this regard by the Board of Directors, in the said meeting.<Less

Aurobindo Pharma announced that its wholly owned subsidiary company, Eugia Pharma Specialities, has received final approval from the US Food & Drug Administration (USFDA) to manufacture and mar... More>ket Budesonide Inhalation Suspension, 0.5 mg/2 mL Single-Dose Ampule, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), PULMICORT RESPULES� (budesonide) Inhalation Suspension by Astrazeneca Pharmaceuticals LP.

The product is expected to be launched in FY25.

The approved product has an estimated market size of US$ 226.4 million for the twelve months ending September 2023, according to IQVIA.

This is the 173rd ANDA approval (including 9 tentative approvals received) out of Eugia Pharma Specialities Group (EPSG) facilities, manufacturing both oral and sterile specialty products. Budesonide Inhalation Suspension, 0.5 mg/2 mL Single-Dose Ampule is indicated for maintenance treatment of asthma and as prophylactic therapy in children of age 12 months to 8 years.

This will be accomplished through the issuance of converti... More>ble equity warrants via Preferential Issue, subject to the necessary statutory and regulatory approvals. The approval process includes seeking the nod from the shareholders of the company, wherever required.


The funds will be raised through issue and allotment of up to 3,55,05,000 warrants, being each warrant convertible into 1 (one) Equity Share of the face value of Rs. 2/- each on preferential basis at an issue price of Rs. 155/- including premium of Rs. 153/- per warrant. The total fund to be raised amounts to Rs. 550 crore.<Less

Long term bank facilities (Rs 3500 crore) - CARE AA-; Stable (revised from CARE A+; Stable)

Datamatics Global Services announced the ongoing success of its partnership with imageOne. Over the past year, Datamatics has helped power imageOne`s digital transformation through its intelligent ... More>automation solutions, TruCap+ Intelligent Document Processing (IDP) and TruBot Robotic Process Automation (RPA). These solutions have helped imageOne automate various manual processes to gain business efficiency, scalability, and cost savings.

Datamatics` TruCap IDP leverages AI and ML to automate high-volume, repetitive tasks involving data capture and classification from scanned documents and forms. TruBot RPA enables rapid automation of business processes through robotic process automation.

These intelligent automation solutions have helped imageOne automate multiple manual processes, saving team members several hours per week. The increased automation has allowed imageOne to have a more scalable, efficient, and empowered workforce

Commenting on this, Sula CEO Rajeev Samant s... More>aid, �Though there was some damage to vineyards, especially where there were hailstorms, the overall impact on our wine grape procurement and upcoming harvest will be negligible, meaning zero impact on the overall business.


�With over 25 years of experience, we have developed a robust grape procurement model where we anticipate a few unseasonal rain events exactly like this one will occur every year. We therefore always
target a slightly higher grape tonnage than we need to fulfil our sales projections. The result is that if and when such unseasonal rains occur, Sula will always get the grapes it needs.


�Interestingly, the net impact of these rains has actually been a positive in many ways as some rain deficient districts such as Dindori and Sinnar have received a much-needed water top up due to the rains.


�There will be those farmers who were hit badly, and we empathise with them. However, I would like to reiterate that the outlook for our 2024 harvest remains extremely strong.�<Less

The decision to expand... More> was catalyzed by Rajoo Engineers` strategic acquisition of an adjoining 2620.85 sq. meters of land in September 2023 and October 2023, enabling the company to further enhance its production infrastructure. The Bhumi Pujan ceremony, a traditional
groundbreaking ritual, was conducted on 28 September 2023, marking the formal initiation of this ambitious expansion project.


The new factory shed is poised to become a cornerstone in Rajoo Engineers` quest for technological advancement and operational efficiency. It will house state-of-the-art machinery, fostering an environment conducive to research, development, and manufacturing of highquality plastic extrusion solutions.<Less

As part of the project, the Mun... More>dra Plant, which is India`s largest private sector power plant, will co-fire up to 20% green ammonia in the boiler of a conventional coal fired 330MW Unit.


Green ammonia, produced from green hydrogen, which in turn is produced through electrolysis using renewable energy, would be a feedstock for the boilers. As ammonia contains no carbon, there is no CO2 emission from its combustion, making it a long-term carbon neutral alternative to fossil fuels. Adani Power has already set a benchmark in the industry for `per-unit` emissions and has adopted state of the art `Ultra Supercritical technology` in its newest plants.


Adani Power has partnered with IHI and Kowa-Japan to deliver the pilot and examine expansion to other APL units and stations as well. Kowa is active in energy saving and energy creating products, while IHI is a heavy industry company which has ammonia firing technology. Combustion tests at IHl`s facility in Japan have begun with 20%
ammonia blend, simulating Mundra Power Station equipment. The partners believe that the results will be encouraging enough to implement this solution at the Mundra Power Station once economic parity is achieved between both feedstocks. The Mundra plant is the first location outside of Japan to have been selected for this cutting-edge green
initiative.<Less

The MSCI India Index is designed to measure the perf... More>ormance of the large and mid cap segments of the Indian market. With 122 constituents, the index covers approximately 85% of the Indian equity universe. The S&P BSE 100 covers the 100 largest and most liquid Indian
companies within the S&P BSE LargeMid Cap while the S&P BSE SENSEX Next 50 indices include the next 50 largest and liquid stocks after those included in the S&P BSE SENSEX 50.<Less

The company had collaborated with P... More>rozeal Green Energy (PROZEAL) for the installation of a 7.82 MWp Solar PV Project at Unit 5 and Unit 6&7. Out of the total 7.82 MWp capacity, 5.2 MWp solar capacity is operational at the site. The balance 2.62 MWp is expected to be operational shortly.


PROZEAL is a leading Solar EPC Company with a track record of serving over 200 customers across various sectors and an installed capacity exceeding 1 GW.<Less

This strategic expansion under... More>scores Zen Technologies` commitment to innovation and excellence in the defence technology sector. The new facility, to be set up at the Electronic Manufacturing Cluster (EMC) Tuem, Goa, represents an investment of up to Rs 50 crore and is
expected to create employment opportunities for approximately 800 individuals. This move aligns with the company`s vision to enhance its manufacturing capabilities, particularly in cutting-edge simulators and drone-related technologies.<Less

The state of the art facility provides IFGL a world class capab... More>ility to complete fundamental research along with a metal melting facilities to enable confirmation of material, steel, slag interface reactions. At IFGL, we see the creation, tabulation, benchmarking and development of our own material intellectual property to be fundamental to our future growth. This Research Centre will give emphasis to Basic research in developing indigenous Raw materials, alternate materials, recycling, new product development in order to provide better quality solutions to our user industries.<Less

Allcargo Gati has launched a state-of-the-art and tech-enabled Surface Transhipment Centre and Distribution Warehouse (STCDW) at Mayasandra, Hobli, on the outskirts of Bengaluru, Karnataka.

Jiga... More>ni is one of the prime industrial areas in Karnataka on the
outskirts of Bangalore with close proximity to certain key customers of Suprajit.


Suprajit Technology Center (STC) is in an advanced stage of negotiating with customers on certain �beyond cables� projects which are expected to be housed in this facility, once all infrastructure updates are done and these new contracts are won.<Less

LTIMindtree has launched a state-of-the-art Quantum-Safe Virtual Private Network (VPN) link at its London premises. This is an exciting move towards the era of quantum-secure communications, w... More>here data transmission is protected today from the looming "harvest now, decrypt later" threat. LTIMindtree`s Quantum-Safe VPN demonstrates the practical application of PostQuantum Cryptography (PQC) within a live network, using quantum-based key generation and out-of-band key delivery, which is secured by Post-Quantum Cryptography algorithms that are on track for standardization by NIST, thereby bolstering the security and integrity of encrypted data.

LTIMindtree`s Quantum-Safe VPN platform is realized in close collaboration with its partners Quantum Xchange, a leader in quantum-safe communication solutions, and Fortinet, the global cybersecurity leader driving the convergence of networking and security. Quantum Xchange provides the quantum hardware and software that enable the generation, distribution, and management of quantum keys, while Fortinet`s FortiGate firewall provides the VPN functionality that integrates quantum-safe keys with standards-based VPN protocols. LTIMindtree leverages its integration and domain expertise to implement and operate the Quantum-Safe VPN link across its active network.

This platform offers several benefits and opportunities for its customers and stakeholders. LTIMindtree`s Quantum-Safe VPN setup, designed as a robust testbed, not only drives the development of industry-specific solutions, but also creates avenues for its customers to co-create industry aligned prototypes and pilots using this advanced infrastructure. LTIMindtree`s customers can benefit from the opportunity to experiment with quantum-safe technologies and explore their potential applications and use cases in various sectors and scenarios.

Long term bank facilities (Rs 501.03 crore) - CARE A+; Stable (revised from CARE AA-; Stable)
Short term bank facilities

This collaboration is designed to leverage

Strides Pharma Science (Strides) today announced that its step�] down wholly owned subsidiary, Strides Pharma Global, Singapore, has received approval for Sodium Sulphate, Potassium Sulphate and ... More>Magnesium Sulphate Oral Solution 17.5g/ 3.13g/ 1.6g per 6 ounces (Product) from the United States Food & Drug Administration (USFDA).  

The Product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Suprep Bowel Prep Kit Oral Solution 17.5g/ 3.13g/ 1.6g per 6 ounces of Braintree Laboratories Inc. (Braintree).

 The approval bolsters the Company`s portfolio of products in bowel preparation that spans both prescription and over the counter offerings. The Product has a marketsize of ~US$143 Mn per IQVIA.

The Product will be manufactured at the company�fs facility in Bengaluru.

The Product belongs to a group of medicines prescribed to those who are required to undergo a colon cleanse prior to a colonoscopy. The kit is available in a carton containing two 6 ounce bottles of the liquid and a mixing container.

Consequent to the aforesaid allotment, the paid-up equity share capital of

Fund based working capital facilities (Rs 600 crore) - ICRA AA

Ashoka Buildcon announced the declaration of 18 October 2023 as the Commercial Operations Date (CoD) for stretch of 7.55 KMs vide letter issued by Independent Engineer on 21 November 22023, in addi... More>tion to stretch of 34.730 KMs already received w.e.f. 26 October 2021 (First CoD) vide NHAI letter dated 10 November 2022, for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India (NHAI) for the Project viz. �Construction of Four Laning of Tumkur - Shivamogga section from 12+310 (Design km 12+300) to km 66+540 (Design km 65+195) from Mallasandra to Karadi Village of NH-206 on Hybrid Annuity Mode, under NHDP phase-IV in the state of Karnataka (Package I)� (Project).

The Project is executed by Ashoka Mallasandra Karadi Road (SPV), a Wholly Owned Subsidiary of Ashoka Concessions, a Subsidiary of the Company.

The Company also announces that the said SPV has received a Provisional Certificate for completion of 42.280 KMs in aggregate, out of total Project stretch of 50.645 KMs.

Further to inform that consequent upon the declaration of CoD, the SPV is already eligible for receipt of Annuity payments from NHAI for the operation period of 15 years at the interval of every 6 months from the date of achievement of First CoD.

Rama Complex, Civil Lines, Azamgarh- 276001, Uttar Pradesh - (131st Showroom)

Hawai Nagar, Khunti Road, Birsa Chowk,

Rs.5500 crore Infrastructure Bonds - CRISIL AAA/Stable (Assigned)
Rs.4500 crore Tier I Bonds (Under Basel III) - CRISIL AA+/Stab

Rs.10000 crore Infrastructu... More>re Bonds - CRISIL AAA/Stable (Assigned)

Rs.500 crore Upper Tier-II Bonds (under Basel II) - CRISIL AAA/Stable (Reaffirmed)

Rs.3500 crore Tier I Bonds (Under Basel III) - CRISIL AA+/Stable (Reaffirmed)

Rs.2132 crore Tier I Bonds (Under Basel III) - CRISIL AA+/Stable (Reaffirmed)

Rs.4500 crore Tier I Bonds (Under Basel III) - CRISIL AA+/Stable (Reaffirmed)

Rs.1000 crore (Reduced from Rs.2000 Crore) Tier II Bonds
(Under Basel III) - CRISIL AAA/Stable (Reaffirmed)<Less

RattanIndia Power announced that post refinancing of senior secured debt of Rs. 1,125 crore lead by Kotak Bank in the month of June 2023, the Company has till date made prepayments of Rs. 179&

Brigade Group has expanded its flexible and managed offices brand BuzzWorks, by launching a distinctive premium workspace in Brigade Towers. This expansion is part of the BuzzWork`s plan to have 50... More>00+ seats in its portfolio by FY24 that includes the establishment of new centres in pivotal locations such as Hyderabad, Chennai, and Ahmedabad Gift City. BuzzWorks at Brigade Towers offers meticulously designed, dynamic and sophisticated workspaces, along with dedicated spaces for meetings and discussions. Incidentally Brigade Towers was the first commercial development by the Brigade Group and continues to remain an iconic landmark in the city.

To oversee the planned expansion of BuzzWorks has appointed Siddharth Verma, who brings with him industry experience in both the hospitality and real estate sectors, to head the BuzzWorks vertical in the capacity of General Manager.