Suzlon Energy witnessed a 3% decline in its share price on February 29th, notwithstanding its recent achievement of securing a substantial 30-MW wind power project for EDF Renewables in Gujarat. This setback notwithstanding, Suzlon maintains its steadfast commitment to providing sustainable and eco-friendly energy solutions. CEO JP Chalasani reiterated the company’s unwavering dedication to environmental…
Platinum Industries Ltd., a leading multi-product company specializing in manufacturing stabilizers and lubricants, has successfully secured Rs. 70.59 crore from anchor investors in anticipation of its forthcoming initial public offering (IPO). The IPO is set to open for public subscription on Tuesday, February 27, 2024. Notably, the company allocated 41,28,237 equity shares at a price…
RBI Holds Key Interest Rate Steady at 6.5% in February Monetary Policy In its February monetary policy meeting, the Reserve Bank of India (RBI) opted to maintain the key interest rate at 6.5 percent. This decision came amidst ongoing concerns surrounding inflationary pressures and economic uncertainties. Cautious Outlook on Inflation by RBI MPC Members The…
Prime Minister Narendra Modi, in a historic move, met with UAE President Sheikh Mohammed Bin Zayed Al Nahyan in Abu Dhabi, marking a significant milestone in bilateral relations. During this momentous occasion, the PM took the opportunity to launch the UPI RuPay card service, a groundbreaking initiative aimed at fostering seamless cross-border transactions between India…
Exploring the IPO Journey of Wise Travel India Limited Wise Travel India Limited, a leading innovator in India’s urban mobility sector, is embarking on its IPO journey. This document delves into the company’s initial public offering (IPO) process, providing insights into its growth potential, market positioning, and strategic objectives. With a formal tone, it offers…
Hyundai has selected JP Morgan, Citi, and HSBC as advisors for the planned mega IPO of its Indian arm. The decision to enlist these financial institutions reflects Hyundai’s strategy to leverage their expertise and global network in executing a successful initial public offering. The move is part of Hyundai’s efforts to capitalize on the growing…
NASA’s Pace satellite soared into the cosmos, marking a pivotal moment in climate research. Here’s how this groundbreaking mission is set to reshape our understanding of Earth’s oceans and atmosphere. Unveiling Earth’s Dynamic Environment The launch of NASA’s Pace satellite heralds a new era of exploration, as it embarks on a mission to unravel the…
In a surprising turn of events on January 31, the Reserve Bank of India (RBI) dealt a severe blow to Paytm Payments Bank, imposing an unprecedented ban on all banking activities after February 29. Unlike previous actions, this move lacked any potential for redemption, raising questions about the gravity of the regulatory concerns that led…
In a recent interview with Moneycontrol on February 2, Finance Secretary TV Somanathan asserted that India’s growth trajectory remains robust, irrespective of private capital expenditure. Somanathan highlighted the noteworthy 11-percent surge in capital spending for FY25, deeming it significant against the backdrop of a modest 8.9 percent nominal GDP growth in the current financial year….
Solid Earnings Surge: In the third quarter of the fiscal year 2024, Union Bank of India witnessed a remarkable 60.00% surge in its net profit compared to the same period last year. The net interest income of the bank also experienced substantial 6.26% YoY growth during Q3 FY24. Reinforcing its Financial Foundation: Building a Strong…
