News & Announcements

Radico Khaitan announced the launch of The Kohinoor Reserve Indian Dark Rum at IAADFS Summit... read more of the Americas in Florida, USA from 14 April to 17 April 2024. Renowned for its extensive portfolio, including award-winning Rampur Indian Single Malt Whiskies and Jaisalmer Indian Craft Gin, Radico Khaitan has been producing rum since its inception.

The Kohinoor Reserve Indian Dark Rum is crafted through small-batch distillation, using only fresh cane juice during the North Indian winter season. The Rum is then matured in American Oak Barrels previously used for maturing Indian Single Malt, followed by further maturation in Cognac XO and Vermouth casks.

The Kohinoor Reserve Indian Dark Rum will be rolled out in coming months across global markets including the USA, UK, EU, Asia as well as Global Travel Retails.

Happy Forgings announced the confirmation of an order for the supply of Brake Flanges for pa... read moressenger vehicles (utility vehicles / pickup trucks) to a large leading Global Tier-1 manufacturer of automobile driveline components and systems. 

Supplies under the contract will commence from Q4FY26/Q1FY27 post the interim part approval process. The total order value is estimated to be worth Rs. 60-70 crores p.a. and approximately Rs. 500 crore for the entire agreement period until December 2034.

This order signifies HFL`s entry into the US Passenger Vehicles segment, enhancing its export share, product mix, and diversifying its revenue geographically.

Dynacons Systems & Solutions announced its latest achievement in securing a significant contr... read moreact worth Rs. 233 crore (all inclusive) from the National Bank for Agriculture and Rural Development (NABARD). This monumental contract encompasses the upgradation and migration of Core Banking Solution (CBS) from Finacle 7.0 to Finacle 10.2.25, operating on the Application Service Provider (ASP) model. The scope of the contract includes serving 1391 branches of 38 State Coop Banks across 8 states.

Under the terms of the contract, Dynacons will deploy its comprehensive suite of services, encompassing consultancy, implementation, customization, and ongoing support. Leveraging its domain knowledge and technical expertise, Dynacons aims to minimize disruptions to banking operations while maximizing the benefits of the new Finacle platform. The project scope includes Core Banking Solution upgrade, migration, and maintenance, alongside infrastructure and network enhancements from leading technology vendors such as HPE, Oracle, Fortinet, Array, and Versa.

Sasken Technologies and JOYNEXT, a respected Tier1 player in the automotive industry, announ... read moreced a strategic partnership to collaborate on the development and launch of cutting-edge platforms for both in-vehicle systems (navigation, digital cockpit and 5G telematics) and off-vehicle cloud and digital services leveraging emerging technologies for the automotive industry.

Sasken and JOYNEXT will leverage their complementary expertise, global presence, and strong ecosystems to deliver innovative and integrated solutions to the automotive industry. This collaboration will enable faster time to market with the best IPs and provide unparalleled support throughout the product development process. By combining JOYNEXT`s proven advanced automotive solutions with Sasken`s innovative automotive hardware and software capabilities, including chip-tocloud cognitive engineering, connected car solutions, optimised edge computing solutions, computer vision, generative AI, and cybersecurity, the partnership aims to address the complex needs of the automotive market while delivering enhanced customer experiences.

The partnership began with a multi-year collaboration focused on automotive software maintenance for navigation and ASPICE compliance. It also includes the definition and implementation of enhancements for new products to keep pace with evolving Software Defined Vehicle (SDV) architectures. Sasken will drive the initiative to address EV challenges such as range anxiety, compatibility with navigation ecosystem players, increasing driver confidence by incorporating realtime data on charging points, driving terrains and integration with ADAS systems. Proprietary algorithms will optimise battery range for safer, more efficient journeys.

Coal India`s (CIL) capital expenditure as whole has risen by 6.5% on year to Rs.19,840 crore endi... read moreng FY 2024, the highest till date. Comparatively, the capex was Rs. 18,619 crore in the preceding fiscal year. CIL achieved 120% target satisfaction over the year`s capex target of Rs. 16,500 crore. For the fourth fiscal on sequence CIL`s capex breached the budgeted target.

With the company focusing on strengthening coal transportation and handling infrastructure in its mining areas, capex under this head was highest among others at Rs.6,070 crore, 30.6% of the year`s capex spend. CIL is aiming to have adequate infra in place to evacuate increased quantities of coal produced in future. This includes setting up first mile connectivity projects with Coal Handling Plants and Silos; rail sidings, rail lines and roads. South Eastern Coalfields Limited (SECL) and Mahanadi Coalfields Limited (MCL) between them accounted for 65.4% of this head with Rs. 2,214 crore and Rs. 1,754 crore respectively.

Evincing a sharp upward swing on land acquisition and associated rehabilitation and resettlement, capex for land was Rs.5,135 Crores in FY 2024, the second highest, posting a jump of 52.5% over Rs.3,367 crore of FY 2023. CIL requires large tracts of land to enhance its production from OC mines which account for 96% of the company`s total output.

CIL`s three subsidiaries Central Coalfields Limited (CCL), SECL and MCL lined up 77.3% of the capex under land head. CCL led the list with Rs.1,909 Crores followed by SECL at Rs. 1,159 Crores and MCL, Rs.904 Crores. These three companies have sizeable production potential in future. Combined they are expected to contribute around 68% to CIL`s 1 Billion Tonne output goal.

Procurement of heavy earth moving machinery (HEMM) made up the third highest head with Rs.3,078 Crores during FY 2024 achieving the target satisfaction of 156.5%. The target was Rs.1,965 Crores. Northern coalfields Limited alone took up Rs.2,262 Crores. In its technology and modernization drive, CIL continuously upgrades its mining fleet having larger capacities, better safety and ergonomic features.

The remaining capex amounting to Rs.5,557 Crores was spread among other heads which include solar projects, joint ventures, washeries, other plant and machinery, mine development activities including safety, environment, exploration & prospecting and office equipment etc.

Bharti Airtel announced that it has 3 million customers enjoying 5G service in Mumbai. The Compan... read morey has successfully deployed 5G service across all locations in Mumbai reflecting a promising shift towards offering next-generation mobile connectivity.

Airtel has registered a significant increase in 5G users in the past 6 months in Mumbai. The Company`s expansive network deployment has effectively extended its services across the entire city, greatly simplifying the process for customers to embrace 5G.

Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect De... read moresign Arena, has won an extended mandate with National Bank of Kuwait (NBK), a top 10 ranking bank in GCC, to accomplish a full digital transformation by modernising existing channels and providing new digital capabilities in transaction banking.

With iGTB`s Digital Transaction Banking, NBK is modernising and enhancing its online corporate banking platform by offering streamlined, secure, and user-friendly digital solutions to gain & retain corporate customers and SMEs. By focusing on next-generation digital banking, NBK can offer its customers the best omnichannel and mobile banking experience across various industries like oil and gas, construction, power and water and transport.

This transformation is a significant leap forward for the bank in terms of scalability and volumes of transactions. It is a key catalyst in accelerating the NBK`s growth ambitions in Kuwait and the Middle East

Ambuja Cements has signed definitive agreement to acquire My Home Group`s 1.5 MTPA Cement Gr... read moreinding Unit in Tuticorin, Tamil Nadu. The acquisition estimated at a total value of Rs. 413.75 crore through internal accruals will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerela. The total cement capacity of Adani Group stands at 78.9 MTPA.

The asset spread across 61 acres of land, conveniently located near the Tuticorin Port with a long-term fly ash agreement will be value accretive from the beginning. Ambuja Cements will leverage the coastal footprint and state-of-the-art marine infrastructure and equipment, ensuring that the best quality products are delivered.

This acquisition provides access to the southern market customers with an opportunity to experience and instil their trust in one of the most iconic and trusted brands � Ambuja Cement. Furthermore, the limited availability of limestone in Tamil Nadu presents a unique competitive advantage with coastal movement of clinker from the Sanghipuram Plant ensuring cost-efficient operations.

Ramkrishna Forgings announced the receipt of a significant order for the prestigious Vande Bharat... read more Train Set. This order, valued at Rs 270 crore, is to be supplied to the BHELTRSL consortium, marking a pivotal moment in the Company`s journey towards excellence in rail infrastructure development.

The scope of this project involves the development and validation of the Bogie Frame for the sleeper version of the Vande Bharat Trainset. The Company`s expertise and commitment to innovation make it the ideal partner for this critical endeavor.

This order encompasses 32 train sets, each comprising 16 coaches. Consequently, RKFL will be producing a total of 1024 bogie frames, showcasing the company`s capacity to handle large-scale and intricate manufacturing requirements.

Subex has announced a deal win with a leading telecom operator in the APAC region. This deal, sig... read morened by Subex (Asia Pacific) , (wholly owned subsidiary of the Company) leveraging Subex`s advanced Business Assurance solution on HyperSense, marks the continuation of a productive alliance that spans over 15 years, building on the ROC Revenue Assurance system`s success.

 The operator is poised to emerge as a visionary leader in telecom technology, striving to deliver unparalleled 5G connectivity, integrated solutions, and an enhanced customer experience. This ambition is supported by the partnership with Subex, aimed at enhancing service quality and providing superior connectivity and integrated solutions.

This initiative is expected to transform the operator`s approach to Business Assurance. Utilizing Subex`s AI-based solutions, the operator plans to enhance its assurance capabilities significantly, address a wider array of risks, and elevate its operational maturity. It`s a strategic step designed to proactively manage risks, particularly those emerging in the evolving 5G landscape, enabling rapid innovation and growth in the digital ecosystem.

Computer Age Management Services has hired graduating professionals from IIT, IIM and other premi... read moreer institutes under its FUEL (Future Emerging Leaders) program. The 21-month immersive learning program - FUEL (Future Emerging Leaders) focuses on building a talent pipeline of new age leaders with deep understanding across technology and business operations.

Over 180 experienced professionals and graduates from premium business management schools and engineering colleges across India will gain deep financial services related domain knowledge that will enable them to emerge as well-rounded, effective leaders for tomorrow`s financial services landscape. As part of the FUEL program, CAMS has hired for roles in technology including 10+ PhDs across Artificial Intelligence (AI) and Computer Vision technology to bring cutting edge research capabilities to augment the technology offerings in the fintech space. Besides Graduate Engineer Trainees and Software Development Engineers from these eminent institutions the company has also recruited for Risk, Process and Market Analysts positions from Madras School of Economics.

CAMS`s hiring focus has been to onboard experienced business school graduates who bring operations experience from a wider gamut of industries that will be leveraged in the new roles while comprehensive hands-on exposure to Asset management processes, operations, technology integration, regulatory environments, and investor perspectives will be given under the FUEL program. Students from IIM � Bangalore, Indore, Raipur, Shillong, Kozhikode, Udaipur, Trichy, Lucknow, Bodh Gaya, Mumbai; IIT � Delhi, Chennai; Great Lakes Institute of Management, SOIL and XLRI, to name a few.

TVS Supply Chain Solutions (TVS SCS) announced that they achieved a milestone of 500,000 CKD (Com... read moreplete Knock-Down) kits for its customer, TVS Motor Company. This was achieved in TVS SCS` dedicated warehouse facility at Hosur. The company`s advanced warehouse facility spanning 1,50,000 sq. ft, ensures defect-free dispatches and prevents parts mismatch.

At its Hosur facility, TVS SCS provides end-to-end value-added services like, production planning, quality management, inbound material activities, kitting, reverse logistics, export, etc. The fully automated facility achieved its first milestone of 100,000 CKD kits in July 2022, subsequently, it demonstrated a consistent pattern of adding one lakh kits to the milestone once in every five months.

Larsen & Toubro (L&T) has announced the completion of divestment of L&T Infrastructur... read moree Development Projects (LTIDPL), a joint venture between Larsen & Toubro and Canada Pension Plan Investment Board (CPP Investments) holding 51% and 49% shares respectively.

LTIDPL has been a pioneer in PublicPrivate-Partnership (PPP) model of Infrastructure development in India. Both L&T (51%) and CPP Investments (49%) stakes have been acquired by Epic Concesiones, an investee company of Edelweiss Infrastructure Yield Plus Strategy, managed by Edelweiss Alternative Asset Advisors (EAAA).

This deal is in line with L&T`s strategy to exit non-core businesses for reducing its exposure to the asset heavy developmental projects portfolio thereby enhancing its Return on Equity.

Uno Minda has marked a significant milestone with the groundbreaking ceremony for its upcomi... read moreng greenfield passenger vehicle alloy wheel plant with a capacity of 120,000 wheels per month at IMT Kharkhoda, Haryana.  The plant with a capital outlay of Rs 542 crore will be set up in a phased manner over the next 5 years with phase 1 commissioning in Q2 FY26.

Uno Minda had recently secured an allotment of a strategic land parcel of 94.32 acres at IMT Kharkhoda, Haryana HSIIDC, to fuel its ongoing and future expansions. A part of this land i.e. around ~ 25 acres has been designated for this greenfield Alloy wheel plant. Uno Minda`s proactive land acquisitions and greenfield project demonstrate its commitment to staying ahead of the curve in the rapidly evolving Indian auto landscape.

IMT Kharkhoda is evolving as a thriving industrial centre with a mega plant from a leading passenger car OEM already under construction and various downstream units securing land for their own investment. The authorities are further boosting the region by offering streamlined clearances under one roof. This location offers Uno Minda logistical advantages for sourcing and supply with its various suppliers and customers at the Industrial Township as well as in the vicinity.

Considering the growth prospects as OEMs announce large capacity expansions, Uno Min.da is also strategically aligning its own growth trajectory. Uno Minda has been proactively securing land parcels in all major auto hubs to be ready to meet the growing demand from OEMs. Last year, Uno Minda had acquired 86 acres of land at Khed City Industrial Park, Pune followed by recent acquisition of 37 acres in Hosur Tamil Nadu and 94.32 acres in IMT Kharkhoda Haryana. The Company is also in process of acquiring land parcel in Gujarat.

These acquisitions also mark a shift in the company`s strategy, moving from buying pocket of land as per the exact requirement every time we expand to buying a large plot of land to meet current and as well as future needs. This revised strategy offers two key advantages: First Uno Minda avoids delays associated with land acquisition by having readily available land, enabling a quicker response to growth opportunities. Secondly, larger plots allow for building bigger plants and consolidating existing ones, leading to improved operational management and economies of scale.

Ramco Systems announced its strategic engagement with Korean Air, a flag carrier of South Korea a... read morend its largest airline, to implement its flagship aviation software, Ramco Aviation Suite at Korean Air`s Engine Maintenance Center. This association was officially announced at MRO Americas 2024, Chicago.

This engagement comes close on the heels of the airline announcing the construction of its new engine MRO facility in Unbuk, near Incheon International Airport, claiming to be the largest engine maintenance plant in Asia, consolidating all engine MRO capabilities into a single cluster. The airline currently conducts MRO work on six engine models, and with this expansion, Korean Air is looking to add three more engine types to its aircraft family.

The implementation of Ramco`s Aviation Software will replace multiple legacy systems to streamline operations across current engine shops and planned expansion sites. With comprehensive MRO-specific functionalities, and integrated e-publications all on a unified platform, offered as an out of the box solution, Ramco Aviation will be the technological foundation for Korean Air. In addition, the airline`s engine maintenance center will also benefit from digital enablers such as Mobility via Anywhere Apps, HUBs, Dashboards and other integrations to the ecosystem offerings, powered by Ramco.

Ramco`s robust Engine MRO solution will cater to the current and future expansion plans of the airline, thereby strengthening the airline`s aircraft engine maintenance capabilities and solidifying its presence in the MRO segment.

Dr. Reddy`s Laboratories announced the launch of the drug-free non-invasive migraine managem... read moreent wearable device Nerivio� in Germany through its step-down subsidiary betapharm. The launch marks the company`s entry into digital therapeutics in Europe. Nerivio� is approved by the United States Food and Drug Administration (USFDA), and is CE-mark certified in Europe.

Nerivio� was presented in 2023 by Dr. Reddy`s at the DGN Kongress organised by the German Association of Neurology in Berlin, and the 17th European Headache Congress held in Barcelona, Spain. Dr. Reddy`s will present and launch Nerivio� during the Neurological Association of South Africa annual congress on April 17, 2024, in the presence of Dr. Stewart Tepper, Professor of Neurology at the Geisel School of Medicine � Dartmouth, and Vice President, New England Institute for Neurology and Headache. In May 2024, Nerivio� will also be presented at International Headache Society 2024 iHEAD meeting in Berlin, Germany. In subsequent months, Dr. Reddy`s will launch Nerivio� in Spain and the UK.

Last year, Dr. Reddy`s entered into an exclusive agreement with Theranica, a prescribed digital therapeutics company developing advanced neuromodulation devices for migraine and other pain conditions, for the marketing and distribution of Nerivio� in multiple markets.

Dr. Reddy`s launched Nerivio� in India in 2023. In India, Nerivio� is supported by Dr. Reddy`s unique patient support programme called �M-Free`. The programme is a comprehensive support system that enhances and streamlines the journey of the patients. M-Free includes services such as onboarding and counseling of patients, device demonstrations, doorstep delivery, flexible payment options, informative content, and dedicated customer care to help patients get the most out of the device. With lifestyle modification as a key recommendation for better management of migraine, M-Free awareness program offers a suite of value-add services such as nutritionist consultation, yoga and meditation sessions with certified specialists for holistic medicine free migraine management.

Gensol Engineering has received significant order book that stands at an impressive Rs. 1783... read more crore in the beginning of FY25, signaling a promising year and solidifying its position as a key player in the renewable energy and electric mobility industry.

Gensol`s diverse order book showcases its involvement in multiple sectors, each contributing significantly to its overall portfolio. These include solar EPC business and EV leasing business contributing Rs 1448 crore and Rs 335 crore respectively.  

Novoloop, a leading plastic circular economy technology company, announced the successful startup... read more of its pilot plant in India. In collaboration with Aether Industries, the pilot plant`s ground breaking in Surat was announced in January 2024. Construction was completed in March 2024 with astounding speed. The pilot plant has now passed equipment testing and solvent runs, and has achieved continuous operations with the usage of commercially-representative waste feedstock.

This milestone marks the successful transition from batch reactions to an integrated and automated plant that validates Novoloop`s first-of-a-kind Lifecycling� technology. Novoloop`s Lifecycling� process transforms post-consumer polyethylene plastic waste into virgin-quality monomers for performance materials at a carbon footprint reduction of up to 91% when compared to the conventional process of producing adipic acid.

Novoloop is a mission-driven company focused on creating scalable solutions for the hardest-to-recycle plastics. In recognition of the company`s potential for world-scale environmental impact, this pilot scaleup has received the support of Rolex as part of its Perpetual Planet Initiative.

The primary objectives of the pilot plant are to demonstrate the safe and reliable operations of the integrated process, validate key equipment performance in an industrial environment, and achieve production of high purity products. The facility also provides a platform for training personnel and developing protocols for commercial operations. The plant will produce ton-scale samples to enable off-take commitments with early customers.

Aether`s operational expertise is a strong asset and instills confidence in the potential for larger scale collaborations between the companies in the future. Novoloop`s plans to expand the pilot capacity to the full 70 metric tons per year demonstration plant scale are already underway.

Suraj Estate Developers has amicably settled a pending litigation with OLV & OLPS Societ... read morey. It has also filed consent terms enabling the development of property bearing F.P.557 of TPS III, Mahim Division admeasuring 7,625.73 square meters of thereabouts.

As per the consent terms, the company agreed to pay to the landowner a consideration of ~Rs. 47 crore and additional flats to OLV & OLPS Society which admeasures ~3,300 square meters (~35,500 Sq. Ft). This leaves the company with built-up area of 10,813.63 square meters (~1,16,400 Sq. Ft.) including fungible FSI for sale amounting to a GDV of Rs 350 crore.

Alongside this, the Company won a bid for obtaining Development Rights of Land Component admeasuring 4,790.76 square meters (~51,500 Sq. Ft.) with Five existing Buildings thereon in the occupation of 108 tenants/occupants. The FSI to be consumed for rehousing the 108 existing tenants/occupants of the said Five Buildings is estimated to be 6,688.90 square meters (~72,000 Sq. Ft.) and after handing over surplus area to MHADA, the balance built-up area for sale available to the Company is estimated to be a minimum of 6,467.52 square meters (~70,000 Sq. Ft.) with a GDV of ~Rs 225 crore.

Long term fund based ... read morelimits (Rs 500 crore) and unallocated limits (Rs 300 crore) - ICRA AAA; Stable


Short term non fund based limits (Rs 4500 crore) - ICRA A1+ (reaffirmed)<Less

 Fenesta has achieved a major milestone of achieving Order booking of Rs 1000 crore in FY24 ... read moreacross its multiple segments, which includes UPVC and aluminium windows and doors, solid panel doors and facades. Fenesta has also surpassed the Rs 200 crore mark in the order booking of aluminium windows and doors category.

Strides Pharma Science today announced that its step‐ down wholly owned subsidiary, St... read morerides Pharma Global, Singapore, has received approval for Fluoxetine Tabs 10 mg and 20 mg, from the United States Food & Drug Administration (USFDA).  

The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD) Prozac�   Tablets of Eli Lilly.   Fluoxetine tablets has a market size of ~US$ 23.9 Mn as per IMS.

This approval further strengthens the Company`s presence in the Fluoxetine portfolio, complementing the existing approval of Fluoxetine  capsules, which has a marketsize of US$106 Mn. The Fluoxetine tablets will be manufactured at the company`s facility in Puducherry.

The company has 260 cumulative ANDA filings (including the recently acquired portfolio from Endo at Chestnut Ridge) with USFDA, of which 245 ANDAs have been approved. The company has set a target to launch ~ 60 new products over three years in the US.

Consequ... read moreent to the above allotment the total number of equity shares of the Company has increased from 188,135,800 to 188,547,732 shares.<Less

Jyoti Structures has successfully executed all three transmission lines awarded by Mundra Po... read morert and Special Economic Zone (MPSEZL).

The scope of work covers manufacture and supply of Transmission Line towers, supply of all line materials, survey, soil investigation, open cast foundations, pile foundations, erection of towers, stringing and commissioning of each of the transmission line. The initial value of the contract was Rs 39.04 crore.

MPSEZL had also awarded a contract to Jyoti Structures Limited for Mundra Mega project involving 400 kV and 220 kV transmission lines on turnkey basis, which has also been completed and test charged.

The company has a long track record for supply of towers, design and testing of towers, as well as turnkey transmission lines, substations and distribution projects in India and abroad.

Adani TotalEnergies E-Mobility (ATEL), a wholly owned subsidiary of Adani Total Gas (ATGL), and p... read moreart of the diversified Adani Portfolio and MG Motor India signed a Memorandum of Understanding (MoU) to strengthen the EV charging infrastructure in India.

The joint collaboration to develop the charging solutions for electric vehicle (EV) and value-added services to MG`s EV customers nationwide and will underpin India`s rapidly evolving EV ecosystem by helping build a robust and efficient charging infrastructure.

In terms of MoU, Adani TotalEnergies E-Mobility (ATEL) will set up CC2 60 kW DC chargers at upcoming MG dealerships to bolster the charging network and enhance customer accessibility. The partnership will also provide a comprehensive solution encompassing supply, installation, commissioning, operations, and maintenance of charging infrastructure. In addition, a digital platform will be launched to facilitate a seamless customer experience, covering discovery, user authentication, charging, and billing settlement through a dedicated mobile application.

Under this strategic partnership, both parties shall explore the potential of integrating public charging stations across platforms by leveraging advanced application programming interfaces (APIs) to enhance network visibility and accessibility. This integration will offer increased accessibility and visibility to the PCS Network and a seamless experience across the integrated network owned and deployed by both entities.

JLR today reports its full year sales are up over 20 per cent year-on-year reflecting improved pr... read moreoduction and sustained global demand.

Wholesale volumes of 110,190 units in the fourth quarter (excluding the Chery Jaguar LandRover China JV) were up16% compared to the same quarter a year ago and up 9% compared to the quarter ended 31 December 2023. By brand, compared to the prior year, wholesale volumes increased in the quarter for Range Rover (up 22% to 58,280 units), Defender (up 5% to 28,702 units), Jaguar (up 39% to 13,528 units) and Discovery (up 1% to 9,680 units).

Retail sales for the fourth quarter were 114,038 units (including the Chery Jaguar Land Rover China JV), up 11% compared to the same quarter a year ago and up 4% compared to the quarter ended 31 December 2023. Compared to the prior year, retail sales in the quarter were up 32% in the UK, 21% in North America, and 16% Overseas. Compared to the prior year, retail sales in China weredown9% and down 2% in Europe for the quarter.

For the full year ended 31 March 2024, wholesale volumes were 401,303 and retail sales were 431,733, up 25% and 22% respectively compared to the prior year; wholesale volumes and retail sales were up in all regions compared to the prior year.

JLR will report results for the fourth quarter and full financial year ended 31 March 2024 in May 2024.

Godrej Properties announced that it has sold over 1050 homes worth over Rs 3,000 crores in its pr... read moreoject, Godrej Zenith, located in Sector 89, Gurugram. This is Godrej Properties` most successful ever launch in terms of the value and volume of sales achieved.

Godrej Zenith is GPL`s largest residential development in Gurugram. The company has recorded a 473 % YoY increase in sales in Gurugram in FY24 and has a strong launch pipeline for FY25 which includes new project launches planned in Sector 103, Sector 43, and Sector 54. These planned launches will significantly strengthen GPL`s presence in the city.

This is the second time in Gurugram, and the fourth time pan India, that GPL has recorded sales of over Rs 2,000 crore during launch in FY24. The company sold inventory worth Rs 2,690 crore in its project, Godrej Reserve, located in Kandivali, Mumbai in Q4 FY24. It also sold inventory worth over Rs 2,875 crore in its project, Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram, and achieved sales worth over Rs 2,000 crore in its project, Godrej Tropical Isle in Noida in Q2 FY24.

Coforge has been honored with the coveted ServiceNow 2024 Emerging Industry Partner of the Y... read moreear � Worldwide award. The ServiceNow Global Partnerships & Channels organization recognizes the dedication and investment of ServiceNow partners made in expanding the ecosystem and contributing to ServiceNow`s growth trajectory by driving transformational value for customers. This recognition underscores Coforge`s exceptional growth trajectory and its pivotal role in delivering transformative value to clients across the globe.

ServiceNow`s recognition is a resounding endorsement of Coforge`s unwavering commitment to leveraging domain expertise and robust capabilities to craft industry-specific solutions in Banking & Financial Services, Insurance, Travel, Tourism & Hospitality and Utilities, that cater to the unique business needs of its clients. As an Elite partner to ServiceNow, Coforge stands out for its proven expertise in providing a comprehensive array of workflow solutions, ranging from IT and employee experience transformation to modern, digital customer experiences.

Gland Pharma has received approval from the United States Food and Drug Administration (USFD... read moreA) for Eribulin Mesylate Injection, 0.5 mg/mL Single Dose Vial (Product).

The Product is expected to be the first generic approval on the market, and the Company expects to launch this product in the near term through its marketing partner.

The Product has US sales of approximately USD 92 million for twelve months ending in February 2024, according to IQVIA

Term loans ... read more(Rs 200 crore) - IND AA; Stable (affirmed)


Term loans (Rs 100 crore) - IND AA; Stable (assigned)


Proposed bank facilities (Rs 150 crore) - IND AA; Stable/ IND A1+ (assigned)<Less

Greaves Retail, the retail unit of Greaves Cotton, a provider of clean mobility and energy soluti... read moreons in the e3W, ICE 3W, and SCV segments, has entered into a strategic technology transfer and supply agreement with Tsuyo Manufacturing (Tsuyo), an innovative Indian company specialising in electric vehicle components. The agreement marks a significant milestone in Greaves Cotton`s commitment to advancing its presence in the low-speed electric 3-wheeler (L3) vehicle segment.

This collaboration underscores Greaves Cotton`s endeavour to leverage Tsuyo`s expertise in electric vehicle technology and manufacturing machinery to enhance its capabilities in the electric L3 vehicle domain. Through this partnership, Greaves Cotton anticipates significant growth opportunities within the 3W segment, aligning with its vision to drive sustainable mobility solutions.

Redington has announced a strategic partnership with Zoho Corporation, a leading global tech... read morenology company. This alliance aims to bring Zoho`s industry-leading cloud solutions for office productivity, team collaboration, and customer engagement to a broader customer base in India by leveraging Redington`s extensive network of partners.

Through this partnership, Redington will leverage its wide distribution network to offer a range of Zoho solutions, including Zoho Workplace (Unified enterprise collaboration platform), Bigin by Zoho CRM (Pipeline-centric CRM solution for small and micro businesses), and Zoho ZeptoMail (Transactional email delivery solution) to businesses of all sizes. These solutions are tailored to streamline operations, boost productivity, and drive growth across diverse industries.

Godrej Properties announced that it has sold inventory worth Rs 2,690 crore in its project, Godre... read morej Reserve, located in Kandivali, Mumbai. Launched within fifteen months of acquiring the land, this is GPL`s most successful launch ever in Mumbai in terms of the value and volume of sales achieved.

Godrej Reserve has a developable potential of ~ 3.72 million square feet with an estimated revenue potential of approximately Rs 7,000 crore. The project has significant unlaunched inventory remaining, which the company plans to sell in the coming years. This is one of GPL`s largest residential developments and significantly enhances its presence in the western suburbs of Mumbai

ZEE Entertainment Enterprises` MD & CEO, Punit Goenka, has proposed the implementation of a l... read moreean and streamlined management structure to the Board, in line with his strategic plan focused towards achieving the targeted goals for the Company.

In line with his overall strategic approach, the MD & CEO has initiated the process of rationalization of the workforce by 15%, that will prune the staff strength across the Company to arrive at a streamlined team that is sharply focused on the set goals for the future.

The proposed structure is aimed towards arriving at a cost-effective operational model with speed and agility as the core areas of focus. It will further enable the Company to chart higher growth by maintaining a keen eye on Performance and Profitability, thereby seamlessly executing its strategic priorities as required for a content creation company.

The proposed team structure will foster a more collaborative performance-oriented culture. In order to nurture and encourage the entrepreneurial spirit, which is an intrinsic part of ZEE`s DNA, every team member of the lean structure will function as a partner and a co-owner of the Company.

In the lateral structure, the MD & CEO has also proposed the elevation of certain team members across businesses, in order to provide them higher level of responsibilities; besides him assuming direct charge of the critical business verticals leading to cross functional collaboration, quick decision making and higher productivity levels.

As the leading entertainment powerhouse with a strong pulse on the audiences` diverse entertainment needs, the core strength of the Company lies in content creation. In order to further strengthen the content creation capabilities, the lateral structure will focus on a more collaborative environment across the core business segments to leverage synergies in terms of creativity, technology and revenue generating opportunities.

The core business units of the proposed structure will include: Broadcast, Digital, Movies and Music.

Punit Goenka, MD & CEO, ZEE added, �Building a simplified, lateral structure for the Company, will ensure that we maintain a sharp focus on Performance and Profitability as the key growth drivers, and the structure proposed to the Board is in line with this core thought. The streamlined team at ZEE will maintain a sharper focus on targeting higher levels of productivity to drive growth in order to generate value for all our stakeholders going forward. I look forward to the Board`s guidance on this approach, enabling us to pursue our goals more effectively and take advantage of the opportunities before us."

Ashoka Buildcon has received Completion Certificate w.e.f. 02 April 2024 for its Hybrid Annu... read moreity Mode (HAM) Project of National Highways Authority of India (NHAI) vide letter issued by Independent Engineer on 04 April 2024 for the Project viz. �Eight Lane Vadodara Kim Expressway from Km 279.00 to Km 292.00 (Ankleshwar to Manubar Section of Vadodara Mumbai Expressway) in the State of Gujarat under NHDP Phase - VI on Hybrid Annuity Mode (Phase IA-Package IV)` (Project).

The Company also announced that the said SPV has received a Completion Certificate for completion of 11.25 KMs out of total Project stretch of 13.00 KMs and balance 1.75 KM have been de-scoped by NHAI.

The Project is executed by Ashoka Ankleshwar Manubar Expressway (SPV), a wholly owned subsidiary of Ashoka Concessions, a subsidiary of the company. The SPV has been receiving Annuity amount for 11.25 KMs from NHAI already.

Artemis Medicare Services has signed definitive agreements with International Finance Corporation... read more (IFC), a member of the World Bank Group, to raise funds of Rs 330 crore in the form of Compulsorily Convertible Debentures (CCDs).

Artemis operates a total of 713 beds predominantly in the Delhi NCR region, including a 541-bed quaternary care, super speciality hospital accredited by Joint Commission International and National Accreditation Board of Hospitals and Healthcare Providers and five hospitals under the Artemis Lite and Daffodils brands. Additionally, the Company runs seven centres under the Artemis Cardiac Care brand under a Joint Venture with Philips. Artemis has 30% representation of women in its board including its Managing Director, Dr Devlina Chakravarty.

The Company aims to increase bed capacity, introduce advanced speciality services, and enhance patient care to bridge demand-supply gaps and bolster its presence in Delhi NCR. Leveraging brownfield and greenfield opportunities, it aims to expedite growth and extend services to all sections of society in the coming years.

IFC`s investment will help the Company improve healthcare accessibility and quality by supporting its growth plans in bed capacity, introducing newer medical treatment specialities, and establishing cardiac care centers in Tier 2 and 3 cities. It aims to foster job creation and professional development in the medical field, particularly among women, driving a sector-wide shift towards more affordable and high-quality healthcare solutions in areas they are needed most.

The transaction is subject to the approval of Artemis`s shareholders, in-principle approval from stock exchanges and fulfilment of customary closing conditions

Thomas Cook`s forex prepaid card data reiterates that the corporate/business traveller is its fas... read moretest growing segment with over 50% share. In a strategy to rapidly grow its market share while supporting corporates in reducing their carbon footprint, Thomas Cook (India) has launched EnterpriseFx - a pioneering, environment friendly prepaid forex corporate card. In partnership with Visa & Mastercard, the innovative product has been thoughtfully designed, offering a range of premium benefits to empower business travellers � across India Inc, multinationals and SMEs. This initiative reiterates Thomas Cook`s position as India ka Forex Specialist (#IKFS) � highlighting the Company`s sustained focus on innovation and elevated customer experience.

Aligned with the Company`s sustainability goals, Thomas Cook`s EnterpriseFx Card features three key elements: 1) made from recycled plastic 2) security feature of a green pin (paperless) 3) Thomas Cook pledge to plant a tree on behalf of the Corporate for every 25th card sold; additionally an e-certification and geo-tagging. The cumulative impact is a saving of approx. 30 kgs carbon emissions per card. So, for 1 lakh EnterpriseFx cards, a significant 3000 tonnes of carbon emission saved which is equivalent to over 12 lakh trees.

TVS Motor Company forayed into the premium lifestyle motorcycle segment with the launch of TVS RO... read moreNIN for its customers in Colombia today.

TVS RONIN is the first �modern-retro` motorcycle from the company made for those who dare to live the #Unscripted way of life. With this launch in Colombia, TVSM has added another significant product to the market. Designed from the ground up, TVS RONIN is a lifestyle statement that takes inspiration from the modern, new-age rider.

TVS RONIN is designed with the style, technology, and riding experience to promote an unscripted lifestyle for the new generation of urban riders. The 225cc motorcycle weighs 160 Kgs and delivers a whopping 20.4 PS Power, making it one the best power to weight ratio in its category, along with a 19.93 Nm Torque.

The motorcycle has been engineered with unique tech features like rain and urban ABS modes, Glide Through Technology (GTT) and Smart Bluetooth connectivity with voice and ride assistance, in a retro design package. Its brand philosophy - �Live the Unscripted life` - stems from the motorcycle`s unique capabilities, in the city and on the open road application.

Organic Recycling Systems announced that the company poised to venture into the Middle East marke... read moret as they have entered into a Memorandum of Agreement (MOA) with BioCatalyst, the authorized Middle East distributor and service provider for Bio Organic Catalyst Inc., headquartered in California, USA. This significant agreement emphasizes ORS`s commitment to advancing sustainable solutions for waste management in the Middle East Region.

The MOA establishes the terms under which ORS and BioCatalyst will cooperate jointly in the marketing and business development of various centralized and decentralized Waste Management (MSW) projects. Through this strategic collaboration, the partners seek to introduce and promote innovative technologies and practices that can revolutionize waste handling, treatment and disposal processes in the Middle East. By combining their strengths in marketing, business development, and technical expertise, ORS and BioCatalyst aspire to establish themselves as key players in the Middle East`s waste management sector, offering solutions that are not only effective but also environmentally friendly and economically viable. This collaboration marks a pivotal moment in addressing environmental challenges and advancing sustainable solutions in the Middle East region.

Indian Energy Exchange achieved 110 BU in FY`24, registering an increase of 13.8% on YoY basis. E... read morelectricity volumes at 101.7BU increased 12% YoY. Additionally, 75.39 lac RECs (equivalent to 7,539 MU) were traded during FY`24. REC traded volume in FY`24 increased 26% on YoY basis. The Government undertook several measures which led to a better supply scenario in the country, as a result of which the sell side liquidity improved on the Exchange.

During the year, the sell liquidity on the exchange increased by 16.9% YoY, which led to a decline in the DAM prices from Rs 5.94/unit in FY`23 to Rs 5.24/unit in FY`24, i.e a decline of 12% YoY. Indian Energy Exchange, India`s premier electricity exchange, achieved 110 BU in FY`24, registering an increase of 13.8% on YoY basis. Electricity volumes at 101.7BU increased 12% YoY. Additionally, 75.39 lac RECs (equivalent to 7,539 MU) were traded during FY`24. REC traded volume in FY`24 increased 26% on YoY basis.

The Government undertook several measures which led to a better supply scenario in the country, as a result of which the sell side liquidity improved on the Exchange. During the year, the sell liquidity on the exchange increased by 16.9% YoY, which led to a decline in the DAM prices from Rs 5.94/unit in FY`23 to Rs 5.24/unit in FY`24, i.e a decline of 12% YoY.

During Q4 FY`24, IEX achieved 30.1 BU volume across all segments, registering an increase of 15.7% on YoY basis. This volume comprises 25.9 BU from the conventional power market segment, 1 BU from the green market segment, and 32.48 lac Renewable Energy Certificates (RECs) (equivalent to 3.2 BU). REC traded volume in Q4FY`24 increased by ~98% on YoY basis. The DAM prices on the exchange reduced from Rs 6.08/unit in Q4 FY`23 to Rs 4.89/unit in Q4 FY`24, a decline of 20% YoY.

For the month of March`24, IEX achieved 9.8 BU overall volume, marking a 6.2 % year-over-year increase. The Market Clearing Price in Day Ahead Market during March�24 was Rs. 3.91/unit, down approximately 28% year-on-year, due to increased sell quantum. The sell bids on the exchange (Day Ahead Market plus Real Time Market) during the month increased by ~37% on YoY basis.

The fiscal year 2024 witnessed several favourable policy and regulatory interventions that further deepened power markets. Notable among these were the General Network Access (GNA) regulation, the Indian Electricity Grid Code (IEGC) regulations, and Transmission Charges Sharing regulations. Further there were amendments in the Electricity Late Payment Surcharge Rules of 2024, which requires the sale of URS power on exchanges.

According to government data, for the year, the energy requirement at 1,626 BU grew by 7.5% YoY in 2023-24.

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

The Day-Ahead Market (DAM) volume was at 4,653 MU in March`24, as compared to 4,745MU in March`23. The DAM segment registered 14,916 MU during Q4FY`24, as compared to 14,301 MU in Q4FY`23, registering an increase of 4.3% on YoY basis. The segment achieved 53,353 MU for the cumulative FY`24, as compared to 51,151 MU in FY`23, registering an increase of 4.3% on YoY basis.

The Real-Time Electricity Market (RTM) volume increased to 2,786 MU in March`24, from 2,098 MU in March`23, registering an increase of 32.8% on YoY basis. The RTM segment registered volume of 7,505 MU during Q4FY`24, as compared to 5,914 MU during Q4FY`23, registering an increase of 26.9 % on YoY basis. The segment achieved 30,125 MU for the cumulative FY`24, as against 24,174 MU in FY`23, registering an increase of 24.6% on YoY basis.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 806 MU during March`24. The total volume on the segment during the quarter was 3,511 MU, growth of 19.3% over Q4 FY`23. For the FY`24, the segment achieved 14,944 MU, registering a growth of 48% 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 426 MU volume during March`24, 960 MU in Q4 FY`24 and 3,227MU in FY`24.

The Green Day-Ahead Market (G-DAM) achieved 410 MU volume with a weighted average price of Rs 3.81 per unit. The market saw participation from 244 market participants during the month. The G-DAM segment achieved 885 MU during Q4 FY`24 and 2,502 MU during FY`24.

The Green Term-Ahead Market (G-TAM) achieved 16 MU volume in March`24. The G-TAM segment achieved 75 MU during Q4 FY`24 and 725 MU for FY`24.

RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)

A total of 11.14 lac RECs (equivalent to 1114 MU) were traded in the trading sessions held on 13th March`24 and 27th March`24, at a clearing price of Rs. 300/REC and Rs. 270/REC respectively. REC traded volume in March`24 increased by ~28% on YoY basis.

32.48 lac RECs (equivalent to 3248 MU) were traded during Q4FY`24. REC traded volume in Q4FY`24 increased by ~98% on YoY basis.

75.39 lac RECs (equivalent to 7539 MU) were traded during FY`24. REC traded volume in FY`24 increased by ~26% on YoY basis.

The next REC trading sessions at the Exchange are scheduled on 10th April`24 and 24th April`24.

ENERGY SAVING CERTIFICATES (ESCerts)

During FY`24, 8.55 lac ESCerts (equivalent to 855 MU) were traded on IEX, at the floor price of Rs. 1840 per ESCert.

Trading of Energy Saving Certificates Market (ESCerts) under PAT Cycle III is scheduled to start from April 09, 2024.

This achievement h... read moreas been driven by multi-fold factors including its expanding network of 122 branches which provides wide geographical coverage, focused around MSME hubs. The company has been investing in on-ground outreach initiatives, improving customer service, as well as
expanding opportunities with its Lending-as-a-Service or L-A-A-S partners.<Less

Aforza, the leading cloud and mobile solution specifically built for the Consumer Products indust... read morery that empowers businesses of all sizes to protect margins on every channel, and LTIMindtree  announced a strategic partnership to deliver digital transformation in CRM & TPM across the consumer products industry.

The partnership between Aforza and LTIMindtree is set to support the front office operations of Consumer Products manufacturers and distributors. This collaboration aims to empower businesses to grow profitably and safeguard margins through comprehensive omnichannel pricing control. It will enable access to real-time data insights, enhancing planning and decision-making capabilities.

Additionally, the partnership promises to boost field productivity throughout the value chain by delivering a world-class user experience. With industry-specific offline mobile apps, professionals can work from anywhere, ensuring flexibility and efficiency. The initiative will also focus on increasing distribution, availability, stock accuracy, and fulfilment rates. Furthermore, it will provide robust measures to manage compliance issues effectively and prevent fraud, ensuring a secure and compliant operational environment.

ABB`s AquaMaster electromagnetic flowmeters were first introduced in India 20 years ago with the ... read morefirst installation in the city of Bengaluru. Today, there are approximately 500 units in operation in the city, helping the water utility with accurate flow measurement. ABB has supplied the AquaMaster to 15 cities spread across 8 states. Over the years, the association that started with Bengaluru has grown with approximately 2000 units operating in the country, in states such as Gujarat, Rajasthan, Odisha, New Delhi and more.

AquaMaster measures water flow in real time, tracking the exact quantities of water passing through the water network. The flowmeter improves control at pumping stations and reservoirs, helping water utilities measure and optimize water use. Additionally, it enables metering to ensure efficient & equitable water distribution even in areas without power, this helps utilities to pump and distribute treated river water to rural homes.