HDFC Bank Ltd.

Oil and Natural Gas Corporation (ONGC) has commissioned two projects costing Rs 6,000 crore to add 7.5 million tonnes of oil production and 1 billion cubic meters of gas output over the life of the Mumbai High fields, as it doubles down efforts to raise productivity from mature and aging fields. A Rs 3,740-crore spend has been made on a state-of-the-art 8-legged water injection-cum-living quarter platform, as part of the Mumbai High South Redevelopment Phase-IV, while Rs 2,292.46 crore have been spent on Cluster-8 marginal field development project at Mumbai High.

Torrent Power has inked a share purchase pact to acquire 100 per cent equity in a 50 MW solar plant of SkyPower Group at an enterprise value of Rs 417 crore. The company has entered into a Share Purchase Agreement (SPA) with SkyPower Southeast Asia III Investments and SkyPower Southeast Asia Holdings 2 (the Sellers) for the acquisition of 100 per cent securities of Sunshakti Solar Power Projects (the SPV special purpose vehicle). The SPV operates a 50 MW Solar Power Project in the state of Telangana.

RailTel Corporation of India has received work order from Electronics & information Technology Department, Government of Odisha for Provisioning of secondary bandwidth and replacement of equipment along with implementation of SDWAN for OSWAN project for a period of five years at a total cost of Rs 122.08 crore (Inclusive of GST).

HDFC Bank’s total advances in Uttar Pradesh have crossed Rs 65,000 crore. As of December 31, 2021, the bank’s advances in Uttar Pradesh stood at Rs 67,756 crore. Total advances include all loans offered by bank in the state - which include loans to Retail, Corporate, MSME, and Microfinance customers with major sector being MSME, Agri, Priority Sector lending & Consumer Loan.

JBM Auto has signed an agreement to purchase the balance 20.10% (30,15,343 equity shares) shareholding of JBM Solaris Electric Vehicles (Subsidiary Company) from the Joint Venture partner, Solaris Bus & Coach SP. Z O.O (formerly SOLARIS Bus & Coach S.A.), consequent to which JBM Solaris Electric Vehicles will become a wholly owned subsidiary of the Company, following the completion of the procedural requirements.

Linde India has acquired 11,375,000 (26%) equity shares of Rs 10 each in Avaada Mhyavat. The company has invested a sum of Rs 11.40 crore in Avaada Mhyavat. The main aim of acquisition is to purchase of renewable power under captive mechanism, which will result in a lower tariff and consequent cost savings.

REC and Jammu Power Distribution Corporation (JPDCL) have partnered with the Abdul Latif Jameel Poverty Action Lab (J-PAL) South Asia to test the impact of smart meters on improving consumer payments and electricity delivery in Jammu.