IGI Logo

Key News

Vedanta puts $12-bn price tag on privatisation-bound Bharat Petroleum

Vedanta Group is willing to spend $12 billion to acquire India’s state-owned refiner Bharat Petroleum Corp., an asset sale that’s among the nation’s biggest and which has faced delays in completion. “We’re not going to bid aggressively, but we will put the right price,” billionaire chairman Anil Agarwal said in an interview in Riyadh on Wednesday. “The market cap of the company is about $11 billion to $12 billion, so this is the amount of investment we’re looking at.”

Mindtree Q3 profit up 34% YoY to Rs 438 cr, rises 9.7% sequentially

Mid-cap IT services provider Mindtree reported profit of Rs 437.5 crore for the third quarter of FY22, an increase of 34 per cent y-o-y and up 9.7 per cent sequentially.

Revenue grew 35.9 per cent to Rs 2,750 crore in the Q3 of FY22, revenue were up 6.3 per cent q-o-q. Mindtree’s third quarter performance reflected the strong growth momentum that the top three players showcased on Wednesday in their results in a seasonally weak quarter.

RIL to invest Rs 5.95 trn in Gujarat for green energy, other projects

As part of Investment Promotion Activity for the now-postponed Vibrant Gujarat Summit 2022, Mukesh Ambani-led Reliance Industries Limited (RIL) on Thursday signed a memorandum of understanding (MoU) with the government of Gujarat for a total investment of Rs 5.95 trillion. The MoU entails an investment of Rs 5 trillion in Gujarat over the next 10-15 years for setting up a 100 Gw Renewable Energy Power Plant and Green Hydrogen Eco-System development in order to make the state net zero and carbon free.

Bharat Biotech seeks full marketing approval from DCGI for Covaxin

Bharat Biotech has sought from the Drugs Controller General of India regular market approval for its COVID-19 vaccine Covaxin', which is currently only authorised for emergency use in the country, official sources said on Thursday. In an application sent to the Drugs Controller General of India (DCGI) this week, V Krishna Mohan, Whole-Time Director at the Hyderabad-based company submitted complete information regarding chemistry, manufacturing and controls, along with pre-clinical and clinical data while seeking regular market authorisation for Covaxin. The company, however, is yet to submit the full follow up data of clinical trila of Covaxin to DCGI, a source said.

Braithwaite & Co aims at Rs 2,500 crore revenue, IPO by FY26

State-run Braithwaite & Co Ltd is aiming at a four-fold increase in its revenue to Rs 2,500 crore and planning to hit the capital market with an Initial Public Offer by the 2025-26 fiscal, a top company official said on Thursday. The public sector undertaking has made a turnaround in the last three years and posted Rs 609 crore revenue in 2020-21, he said. The PSU company under the administrative control of the Ministry of Railways is expecting to touch Rs 700 crore topline in the current fiscal.

To Read Complete Report & Disclaimer Click Here

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