Business

Ahmedabad :  Adani Enterprises Limited (“the Company” or “AEL”), the flagship company of the Adani Group and one of India’s largest business incubators in terms of market capitalization with a long track record of creating sustainable infrastructure businesses since 1993, has announced the launch of its maiden public issuance of secured, rated, listed redeemable, non-convertible debentures. The NCDs proposed to be issued under the Issue have been rated “CARE A+; Positive (Single A Plus; Outlook: Positive) by CARE Ratings Limited. Securities…

Ahmedabad : Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest ports and logistics company, has entered into a definitive agreement to acquire 80% stake in Astro, in an all-cash deal for USD 185 million, implying an EV of USD 235 million and EV / FY25E EBITDA at 4.4x. The transaction is expected to be value accretive from the first year itself. Incorporated in 2009, Astro is a leading global OSV operator in the Middle East, India, Far East Asia…

New Delhi: ‘PFC Consulting Limited’, (PFCCL) a wholly-owned subsidiary of Power Finance Corporation Limited, a Maharatna CPSE, has announced its final dividend for the year ending March 31, 2024. This was decided at the company’s 16th Annual General Meeting (AGM) held recently. For the year 2023-24, PFCCL has paid a total dividend of Rs. 18,222 per share. This amount is 60% of the company’s Profit After Tax (PAT). PFC Consulting Limited remains committed to delivering value to its shareholders while…

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the proposal for conduct of 3rd batch of ascending e-auctions for 730 channels in 234 new cities with estimated reserve price of Rs.784.87 crore under Private FM Radio Phase Ill Policy. State-wise list of the cities / towns and the number of Private FM channels approved for fresh auctions is enclosed as Annexure. The Cabinet also approved the proposal to charge Annual License Fee (ALF) of FM…

The Competition Commission of India (CCI) has approved the proposed combination involving Reliance Industries Limited (RIL), Viacom18 Media Private Limited (Viacom18), Digital18 Media Limited, Star India Private Limited (SIPL) and Star Television Productions Limited (STPL), subject to the compliance of voluntary modifications. The proposed combination envisages to combine the entertainment businesses (along with certain other identified businesses) of Viacom18, part of RIL group and SIPL, wholly owned by The Walt Disney Company (TWDC). As a result of the transaction, SIPL,…

REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the Maharatna CPSU under the aegis of Ministry of Power, handed over a project specific SPV (Special Purpose Vehicle). viz, Bhadla-III Power Transmission Limited to M/s Power Grid Corporation of India Limited (PGCIL) on 28th August 2024 at Gurugram.  M/s Power Grid Corporation of India Limited (PGCIL) emerged as the Transmission Service Provider (TSP) through Tariff-based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for development…

Namaste! I am honoured by the opportunity to address a gathering of so many eminent personalities – at the 2024 Regional Industrial Conclave. I am also humbled to stand before all of you today, in this historic city of Gwalior. The unparalleled story of India’s independence is never complete without the inspiring history of Gwalior, whose significance extends across India’s history, culture, heritage, and architecture. Gwalior has produced great leaders such as Swargiya Rajmata Vijaya Raje Scindia ji, Swargiya Shri…

REC Limited, Maharatna PSU under Ministry of Power and a leading NBFC, signed an MoU with Jawaharlal Nehru Port Authority (JNPA) for financing upto Rs. 45,000 Cr for various upcoming projects of JNPA, which includes development of Vadhavan Port. Shri Rahul Dwivedi, IAS, Executive Director, REC signed the MoU with Shri Unmesh Sharad Wagh, Chairman, JNPA. MoU was signed in the presence of Shri Sarbananda Sonowal, Hon’ble Union Minister for Ports, Shipping and Waterways. Shri Sanjay Sethi, IAS, Additional Chief…

Gurugram : In a significant Corporate Social Responsibility (CSR) initiative, REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has committed Rs. 15 crore to provide free medical treatment and surgery for approximately 1,000 children born with congenital heart disease from economically weaker sections of society. The Memorandum of Agreement (MoA) formalizing this noble endeavour was signed between Ms. Taruna Gupta, Executive Director of CSR at REC Limited, and Shri Vivek Gaur, Trustee of Sri Sathya…

Extensive Guidance on Sericulture and Success Stories Shared During Technical Sessions Parli Vaidyanath, 23rd: On the third day of the ongoing agriculture festival at Parli Vaidyanath, farmers from across the state have shown overwhelming enthusiasm. Thousands of farmers from various districts, including Gadchiroli, Amravati, Nagpur, Ratnagiri, Raigad, and Kolhapur, have attended the event and benefited from the agricultural exhibition. A large number of women, alongside men, were seen purchasing various agricultural products displayed at the exhibition, including stalls set up…