IGI Logo

Key News

Adani group raises $250 million debt to fund development at six airports

Adani group on Monday announced it has raised $250 million three year debt from Standard Chartered Bank and Barclays Bank for capital expenditure at six airports that it manages under a public private partnership. The group has option to raise another $200 million under the existing facility, the company said in a statement.

The Adani group runs seven airports, including Mumbai, Ahmedabad, Guwahati, Jaipur, Lucknow, Mangaluru and Thiruvananthapuram. While the Adani group took over Mumbai airport from GVK last year, it won the bid to operate six Airport Authority of India (AAI) airports on 50 year lease. The group is also developing the Navi Mumbai airport.

MG Motor India crosses 100,000 cumulative sales mark in nearly 3 yrs

MG Motor India on Monday said it has crossed 1 lakh cumulative sales milestones in the country since the launch of its first vehicle nearly three years ago. The company, which started selling its vehicles in India with the launch of Hector SUV in June 2019, currently has a portfolio including the electric SUV, ZS EV, premium SUV Gloster and compact SUV Astor.

Ruchira Green Earth eyes Rs 500 cr revenue by 2025 on pent-up demand

Lithium-ion batteries maker Ruchira Green Earth on Monday said it is eyeing Rs 500-crore revenue by 2025, driven by pent-up demand for such batteries in the fast growing domestic EV space. The company also said it is looking to tap into battery swapping and replacement markets apart from large Energy Storage System (ESS) applications in the domestic market.

L&T bags water project in Jharkhand; to irrigate 22,283 hectares in Dumka Engineering major

Larsen & Toubro (L&T) on Monday said it has bagged a significant project from Jharkhand government for irrigation. The project envisages to provide water to irrigate 22,283 hectare of Culturable Command Area (CCA) in Dumka district of Jharkhand by way of pumping water from the Sidheshwari river. The scope includes survey, design, and constructing a barrage acrossthe river.

JSW Group to make $7 bn bid for Holcim's India cement business:

Report Indian metals-to-cement conglomerate JSW Group will make a $7 billion bid for Holcim AG's Indian subsidiaries Ambuja Cements Ltd and ACC Ltd, the Financial Times reported on Tuesday. The company will offer $4.5 billion in its own equity and $2.5 billion from undisclosed private equity partners for the bid, JSW Group Chairman Sajjan Jindal told the newspaper, adding that it will acquire 63% stake in Ambuja Cements.

The move comes as Switzerland's Holcim tries to diversify away from its core business of cement and aggregates to focus more on building technology amid increased emphasis on sustainability.

NSE scam: Court defers order on bail plea of Chitra Ramkrishna, Subramanian

A special CBI court here on Monday deferred the verdict on the bail applications of former NSE head Chitra Ramkrishna and former employee Anand Subramanian, who were arrested by the probe agency in connection with the NSE co-location case. The special CBI judge of the Rouse Avenue court deferred the order for May 12. Both Ramkrishna and Subramanian, currently lodged in Tihar Jail under judicial custody, have been charge sheeted under various sections of the IPC.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at http://www.aretesecurities.com/
SEBI Regn. No.: INM000012740

Above views are of the author and not of the website kindly read disclaimer