Jindal Stainless Limited has taken a significant step towards sustainability by acquiring a 33.64% equity stake in a special purpose vehicle (SPV) to develop a 282 MW hybrid renewable energy project. Strategic Investment for Clean Energy The SPV, named Oyster Green Hybrid One Private Limited, has been formed in collaboration with Oyster Renewable Energy Private…
Bengaluru-based IT giant Infosys has announced a 22% increase in the annual compensation of its CEO & MD, Salil Parekh, bringing his total earnings to Rs 80.6 crore for the financial year 2024-25 (FY25). Breakdown of Salary Components Parekh’s compensation includes: The significant rise in his earnings is primarily attributed to restricted stock units (RSUs),…
Mumbai-based omnichannel furniture retailer Pepperfry has successfully raised Rs 43.3 crore from its existing investors, including General Electric Pension Trust, Norwest Venture Partners, Goldman Sachs, Growth Equity Opportunity Fund, and Panthera Growth Partners. Investment Breakdown & Purpose The latest funding round was led by General Electric Pension Trust, which contributed Rs 21.5 crore, followed by…
Adani Ports and Special Economic Zone (APSEZ), India’s largest private port operator, has successfully raised ₹5,000 crore through a 15-year bond issuance, with Life Insurance Corporation of India (LIC) fully subscribing to the offer. LIC’s Exclusive Investment in Adani Ports’ Longest-Tenor Bonds The bond sale, priced at a 7.75% annual coupon rate, marks Adani Ports’…
The Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) has commenced work on the ₹30-crore Integrated Manufacturing and Logistics Cluster (IMLC) in Unnao, aiming to boost industrial growth and logistics efficiency in the region. Project Overview and Infrastructure Development The IMLC spans 135.26 hectares near the Lucknow-Kanpur State Highway, strategically positioned for seamless connectivity to the…
Sanghvi Movers Ltd, India’s leading crane rental service provider, is aiming for 25–30% top-line growth in FY26, backed by a strong order book and expansion into the wind EPC segment. Strategic Growth and Market Expansion The company expects its core crane rental business to grow by 10–15%, while its wind EPC segment is projected to…
Shravin Bharti Mittal, heir to the $27.2 billion Bharti fortune, has officially relocated from the United Kingdom (UK) to the United Arab Emirates (UAE), citing Britain’s increasingly stringent tax regime. Mittal, a key stakeholder in BT Group Plc with a 24.5% share, had previously declared the UK as his residence but has now shifted to…
HBL Engineering Ltd has reported a 40.7% year-on-year (YoY) decline in EBITDA, falling to ₹78 crore in the January-March quarter of FY25. The company’s EBITDA margin contracted to 16.94%, down from 21.74% in the same period last year. Revenue and Profit Decline in Q4 FY25 HBL Engineering’s total revenue dropped 24% YoY, reaching ₹459.8 crore,…
Ashok Leyland Ltd, the flagship company of the Hinduja Group, has earmarked ₹1,000 crore for capital expenditure (capex) in FY26, focusing on product innovation, technology development, and subsidiary investments. Strategic Investments and Growth Plans The company, which ended FY25 with a net cash surplus of ₹4,242 crore, plans to invest heavily in its electric vehicle…
The Government of India has ratified the Employees’ Provident Fund (EPF) interest rate at 8.25% for the financial year 2024-25, ensuring stable returns for over 7 crore subscribers. The Employees’ Provident Fund Organisation (EPFO) will soon credit the interest amount to members’ accounts. Government Approval and EPFO Decision The Central Board of Trustees (CBT) of…
