State Bank Of India

ICICI Prudential Life Insurance is on course to meet the target of doubling the value of new business this fiscal from the FY19 levels, as the largest private-sector life insurer expects to continue the good run it had in FY22 and expand the margin by 22 per cent. It had nearly trebled the net income in the March quarter on the back of robust margin growth from new sales. The ICICI Group firm had in FY19 set a target of doubling the value of its new business (VNB) by FY23 -- from Rs 1,328 crore in FY19 to Rs 2,650 crore by FY23.

SJVN has achieved financial closure by signing of loan agreement amounting to Rs 494.00 crore with Himachal Pradesh State Co-Operative Bank for development of 66 MW Dhaulasidh HEP (DSHEP) coming under Hamirpur and Kangra District of Himachal Pradesh. The project has already commenced its construction activities since May 2021 and moving fast forward to generate 304 Million unit in a 90% dependable year of clean Hydro Power from FY 2025-26 with levelized tariff of Rs. 4.46/Kwh. The total project cost of Rs 688 crore of DSHEP has to be financed through a Debt Equity Ratio of 80:20.

Jindal Stainless (JSL) is keen make an investment in the renewable energy sector to set up 300 MW solar and wind capacities in three states. There will be no more investments in thermal energy.

State Bank of India (SBI) has raised $500 million (over Rs 3,800 crore) through its IFSC Gift City branch. This is the first offshore USD Secured Overnight Financing Rate (SOFR) linked syndicated loan raised by SBI through its Gift City branch. The facility is for $400 million plus $100 million as a green shoe option.

Tata Motors’ wholly owned subsidiary -- Jaguar Land Rover (JLR) has opened bookings for the all-new Discovery Metropolitan Edition with prices starting from Rs 1.26 crore (ex-showroom). The latest seven-seater SUV comes with many upgrades and enhanced new age features.  

Rail Vikas Nigam (RVNL) has entered into an MoU with Mahanadi Coalfields (MCL), a subsidiary of Coal India (a Govt. of India undertaking under the Ministry of Coal & Mines), for entrusting Project Management Consultancy for Rail Infrastructure works of MCL to RVNL from concept to commissioning.

LT Foods’ flagship brand -- Daawat has launched a new communication to celebrate Biryani in Eid. The New Eid TVC (television commercial) aims at positioning Daawat Biryani as one of the most integral & coveted food especially during the festival times to welcome families & friends at home. Daawat the Finest Basmati Rice from LT Foods has always given its consumers in India & around the globe reasons to rejoice & cherish those special occasions in their lives.