Lemon Tree Hotels has announced its plans to open a brand-new hotel in Meerut, Uttar Pradesh. Scheduled to open in FY25, the hotel will be franchised by the company and will consist of 75 rooms. This new addition aims to cater to the growing demand for hospitality services in the city and provide guests with a comfortable and enjoyable stay.
Tata Steel and The Tinplate Company of India Merger
Tata Steel and The Tinplate Company of India Limited (TCIL) are set to merge, with the record date for the merger scheduled for Friday, January 19, 2024. This strategic move will further strengthen Tata Steel’s position in the market and enhance its capabilities in the steel industry.
Inox Wind Receives Letter of Intent for Wind Power Project
Inox Wind Ltd, a leading wind energy solutions provider, has received a letter of intent (LoI) for a 50 MW turnkey wind power project from NLC India Ltd. The project will be executed at the Dayapar site in Gujarat and will be connected to the Indian electricity grid (ISTS). Inox Wind will also provide comprehensive operations and maintenance services for over 10 years, ensuring the smooth operation of the project.
RailTel to Supply Teaching Learning Material for Bihar Education
RailTel Corporation has been awarded a work order from the Bihar Education Project Council to supply teaching learning material for Class IV to V. The order is valued at Rs 39.88 Crore (Including GST) and highlights RailTel’s commitment to supporting educational initiatives in the state.
ZEE-Sony Merger Could Potentially Be Called Off
The proposed merger between ZEE Entertainment and Sony is reportedly facing uncertainty, with speculation that the deal might be called off. This development could have significant implications for both companies and the media industry as a whole.
Jaguar Land Rover Reports Rise in Sales Volumes
Jaguar Land Rover, a subsidiary of Tata Motors, has witnessed a rise in sales volumes for the third quarter of FY24. This increase reflects improvements in supply and the successful delivery of vehicles to clients.
Oil India Collaborates with Assam Power Generation Corporation for Renewable Energy
Oil India, a state-owned oil and gas exploration company, has entered into a Joint Venture Agreement (JVA) with Assam Power Generation Corporation to collaborate in the renewable/green energy business. This partnership aims to maximize renewable power generation in the state and contribute to sustainable energy development.
BEML Secures Order from Ministry of Defence
BEML has secured an order worth Rs 329.87 crore from the Ministry of Defence for the supply of a Mechanical Minefield Marking Equipment Mark-II. This order highlights BEML’s expertise in defense manufacturing and its commitment to supporting national security initiatives.
Brigade Enterprises Signs MoUs with Tamil Nadu Government
Brigade Enterprises, a renowned real estate developer based in Bengaluru, has signed MoUs worth Rs 3,400 crore with the Tamil Nadu government. These agreements outline plans for the development of various projects over the next 3-4 years, as part of the Tamil Nadu Global Investors Meet 2024 in Chennai.
Bajaj Allianz General Insurance Records Gross Direct Premium
Bajaj Allianz General Insurance Company, a subsidiary of Bajaj Finserv, has recorded a Gross Direct Premium underwritten worth Rs 1,425.1 crore for the month of December 2023. This achievement reflects the company’s strong performance in the insurance sector.
Royal Enfield to Invest in Tamil Nadu for Greenfield Projects
Royal Enfield, a division of Eicher Motors, has signed a non-binding MoU with the Tamil Nadu government to invest Rs 3000 crore over 8 years. The investment aims to establish greenfield and brownfield projects in the state, contributing to economic growth and employment opportunities.
Tata Communications to Announce Third Quarter Financial Results
Tata Communications’ board will convene on January 18, 2024, to discuss and announce the financial results for the third quarter. This announcement will provide insights into the company’s performance and financial standing.
Cipla Forms Joint Venture for Cell Therapy Products
Cipla, a leading pharmaceutical company, has announced a joint venture in the US with Kemwell Biopharma and Manipal Education & Medical Group. The partnership aims to develop and commercialize novel cell therapy products to address unmet medical needs in the US, Japan, and the EU.
CG Power and Industrial Solutions Receives GST Demand Notice
CG Power and Industrial Solutions has received a demand notice for Goods and Services Tax (GST) amounting to Rs 25.86 lakh. The company will address this notice in compliance with applicable regulations.
Bajaj Auto Approves Share Buyback
Bajaj Auto’s board has approved a share buyback of up to Rs 4,000 crore at Rs 10,000 per share through the tender offer route. This buyback represents a significant portion of the company’s total paid-up equity share capital and free reserves.
Skipper Announces Equity Rights Issue
Skipper has announced its plans to raise Rs 199 crore through an equity rights issue on a partly-paid basis. The company’s board has approved the rights issue, which will be made available to eligible shareholders. The proceeds from this issue will be utilized for specific purposes outlined by the company.
As the stock market fluctuates and various companies make significant announcements, it is crucial for investors and stakeholders to stay informed about the latest developments. These updates provide insights into the strategies, expansions, and partnerships of key players, offering valuable information for making well-informed investment decisions.