South West Pinnacle, Lemon Tree Hotels and Ramkrishna Forgings to see some action today

25 Jul 2024 Evaluate

South West Pinnacle Exploration (SWPE) has got an order from Hindalco Industries for providing services of exploration and activities related thereto of a Coal block situated in the state of Odisha. The aggregate value of order is Rs 536 lakh including GST.

Lemon Tree Hotels has signed a new property -- Keys Prima by Lemon Tree Hotels, Kota, Rajasthan. The property, which shall be managed by Carnations Hotels, a wholly-owned subsidiary of the company, is expected to open in FY 2025.

Ramkrishna Forgings has received an approval for acquisition of an existing company, Resortes Libertad S.A. DE. C.V. in Mexico. The said company will become 100% subsidiary of the Company. The Board of Directors at its meeting held on July 24, 2024, has considered and approved the same. Upon successful completion of the acquisition and receipt of statutory approvals, the name of the existing Mexican Company is proposed to be change from Resortes Libertad S.A. DE. C.V. to Ramkrishna Forgings Mexico S.A. DE. C.V.

State Bank of India (SBI) has signed non-binding Memorandum of Understanding (MoU) with Foreign, Commonwealth & Development Office (FCDO), UK on July 24, 2024 for 750 million Pounds where FCDO and SBI, each, will collectively invest matched contributions of 375 million Pounds equivalent over a pre agreed timeline.

Hindustan Zinc has launched EcoZen, its low carbon ‘green’ zinc brand. Recognized as the world’s most sustainable metals & mining company as per S&P Global CSA, the company has launched Asia’s first low carbon ‘green’ zinc offering for its customers worldwide. EcoZen has been certified as low-carbon zinc by a renowned global sustainability consulting firm through a life cycle assessment (LCA) and has a carbon footprint of less than one tonne of carbon equivalent per tonne of zinc produced. Manufactured using renewable energy, the carbon footprint of EcoZen is about 75% lower than the global average.

Axis Bank has reported results for first quarter ended June 30, 2024 (Q1FY25). The bank has reported 4.10% rise in its net profit at Rs 6034.64 crore for the quarter ended June 30, 2024 as compared to Rs 5797.10 crore for the same quarter in the previous year. Total income of the bank increased by 16.97% at Rs 35844.22 crore for Q1FY25 as compared to Rs 30644.04 crore for the corresponding quarter previous year. On consolidated basis, the bank has reported 5.76% rise in net profit at Rs 6450.03 crore for Q1FY25 as compared to Rs 6098.95 crore for the same quarter in the previous year. Total income of the bank increased by 18.50% at Rs 37795.88 crore for Q1FY25 as compared to Rs 31894.20 crore for the corresponding quarter previous year.

SBI Life Insurance Company has reported results for first quarter ended June 30, 2024 (Q1FY25). The company has reported 36.34% rise in its net profit at Rs 519.52 crore for the quarter under review as compared to Rs 381.04 crore for the same quarter in the previous year. Net premium income of the company increased by 15.27% at Rs 15105.48 crore for Q1FY25 as compared Rs 13104.49 crore for the corresponding quarter previous year.

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