Dalmia Bharat’s wholly owned subsidiary -- Dalmia Cement (Bharat) (DCBL) has entered into Share Subscription and Shareholders agreement (SSSHA) on January 17, 2025, to acquire 26% of equity share capital of Solis Urja Energy, consisting of 17,50,000 equity shares aggregating to Rs 1,75,00,000, in one or more tranches to source solar power as a captive consumer for a capacity upto 7.0 MWp located in the State of Andhra Pradesh.
Ashapura Minechem’s overseas subsidiary has entered into a long-term Memorandum of Understanding (MoU) with China Railway, a Global Fortune 500 Company, to jointly develop its Fako bauxite deposit in the Kindia region of Guinea. In terms of MOU, China Railway will be responsible for production of Bauxite and provide logistic solution while Ashapura will be totally responsible for sales and marketing and providing technical support including quality assurance for the project.
TD Power Systems has received order from Nuclear Power Corporation of India (NPCIL) valued at Rs 57 crore (inclusive of GST of Rs 9 crore) for the supply of Induction motors. These unique low-speed motors will replace existing high-speed imported motors with reduction gearboxes.
Shiva Texyarn has received an order from Central Government, Ministry of Defence, Department of Military Affairs, Indian Airforce for supply of 21,333 pieces of NBC HAVERSACK MK-ll. The said order will be delivered between January 18, 2025 and January 18, 2026. Broad consideration or size of the order is Rs 9.06 crore (inclusive of all duties and taxes).
Minda Corporation has completed the acquisition of 49% stake in Flash Electronics (India) (Flash) from existing shareholders of Flash. The investment is a strategic partnership and would help unlock synergies across products, customers, technology and manufacturing excellence.
Kotak Mahindra Bank has reported 10.23% rise in its consolidated net profit at Rs 4701.02 crore for the quarter ended December 31, 2024 as compared to Rs 4264.78 crore for the same quarter in the previous year. However, total income of the bank decreased by 0.57% at Rs 23945.79 crore for Q3FY25 as compared to Rs 24083.15 crore for the corresponding quarter previous year.
Reliance Industries has acquired 100% equity stake of Reliance New Energy Battery. With this acquisition, Reliance New Energy Battery has become a direct wholly owned subsidiary of the company.
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