SBI, AHAsolar Technologies and Power Grid Corporation to see some action today

State Bank of India (SBI) has raised Rs 5,000 crore through its first Basel III compliant Additional Tier 1 bond issuance for the current financial year at a coupon rate of 7.98%. The tenor of these bonds is perpetual with call option after 10 years and each anniversary date thereafter and are rated AA+ with stable outlook from CRISIL Ratings and CARE Ratings.

In a strategic initiative aimed at propelling India’s clean energy and electric vehicle (EV) revolution, AHAsolar Technologies and MCS Cargar have entered into a Memorandum of Understanding (MoU). This collaboration brings together two leading organizations with distinct yet complementary expertise in the renewable energy and EV charging sectors. By merging their technological innovations, AHAsolar and Cargar are set to drive transformational change in the EV and solar energy ecosystems, accelerating the transition towards a sustainable future.

Power Grid Corporation of India has been declared as the successful bidder under Tariff based competitive bidding to establish Inter-State transmission system for ‘Evacuation of Power from Potential Renewable Energy Zone in Khavda area of Gujarat under Phase-V (8 GW): Part A’ on build, own, operate and transfer (BOOT) basis. The Letter of Intent (LoI) has been received by Power Grid Corporation of India on October 24, 2024.

L&T Technology Services (LTTS) has opened its state-of-the-art LTTS Experience Zone at its design hub in Bengaluru benefitting customers in segments like Mobility and Tech. This AI-driven LTTS Experience Zone, leveraging the NVIDIA AI platform, is set to serve clients in the Mobility and Tech segments. The LTTS Experience Zone offers an immersive environment where visitors can engage with live demonstrations, interactive displays and expert consultations. It showcases the transformative power of NVIDIA AI, pushing the boundaries of AI-driven technologies to address complex challenges in critical sectors.

Tarmat has bagged Letter of Intent (LoI) worth Rs 23.90 crore from Mumbai International Airport for Civil Works for Taxiway ‘M’ phase -- 1 on Airside at Chhatrapati Shivaji Maharaj International Airport (CSMIA), Mumbai. The Contractor (Tarmat) shall perform the works and achieve completion within six months from the date of Notice to proceed.  

Godrej Consumer Products has reported results for second quarter ended September 30, 2024 (Q2FY25). The company has reported 19.04% fall in its net profit at Rs 392.54 crore for the quarter ended September 30, 2024 as compared to Rs 484.87 crore for the same quarter in the previous year. However, total income of the company increased by 2.16% at Rs 2376.03 crore for Q2FY25 as compared to Rs 2325.76 crore for the corresponding quarter previous year. On consolidated basis, the company has reported 13.53% rise in net profit at Rs 491.31 crore for Q2FY25 as compared to Rs 432.77 crore for the same quarter in the previous year. Total income of the company increased by 2.30% at Rs 3,752.32 crore for Q2FY25 as compared to Rs 3,667.88 crore for the corresponding quarter previous year.

IndusInd Bank has reported results for second quarter ended September 30, 2024 (Q2FY25). The Bank has reported 39.24% fall in its net profit at Rs 1,325.45 crore for the quarter ended September 30, 2024 as compared to Rs 2,181.47 crore for the same quarter in the previous year. However, total income of the Bank increased by 9.91% at Rs 14,870.18 crore for Q2FY25 as compared to Rs 13,529.53 crore for the corresponding quarter previous year. On consolidated basis, the Bank has reported 39.54% fall in net profit at Rs 1,331.26 crore for Q2FY25 as compared to Rs 2,202.05 crore for the same quarter in the previous year. However, total income of the Bank increased by 9.92% at Rs 14,871.25 crore for Q2FY25 as compared to Rs 13,529.68 crore for the corresponding quarter previous year.