Altigreen, a manufacturer of commercial electric vehicles, has increased its manufacturing and expansion capacities by opening a new production plant in Malur, Karnataka. This action follows a recent round of financing of Rs 300 crore, which was spearheaded by Sixth Sense Ventures, Reliance New Energy, Xponentia Capital, and other investors. The Malur production plant, which
According to the chief executive of the salon chain, Reliance Retail, a division of the Indian oil-to-chemicals behemoth Reliance Industries, is in negotiations to purchase a 49% stake in Naturals Salon & Spa. The current promoters of Naturals Salon’s parent company, Groom India Salons & Spa, could continue managing operations and that Reliance’s funds would
A SeleQtions hotel in Munnar, Kerala, has been contracted by Indian Hotels Company (IHCL). This hotel, a brownfield project, is managed by CRB Hotels & Resorts. With this addition, IHCL now owns 14 hotels in Kerala, including three that are currently being built. The SeleQtions hotel, which will have a mix of 55 rooms and
The creation of a wholly owned subsidiary of the company called “Amara Raja Advance Cell Company” for the production of lithium-ion batteries has been approved by the board of Amara Raja Batteries. To supply energy storage systems for the electric mobility and stationary storage industries, the proposed wholly-owned subsidiary firm will be involved in the
The fresh orders received by Kalpataru Power Transmission total Rs. 1,290 crore. Among the contracts are orders for T&D services in international markets, oil and gas pipeline construction in India, and railroad construction in India. We are thrilled with the new order wins across our business verticals, said Manish Mohnot, managing director & CEO of
Zydus Lifesciences has disclosed the acquisition of an additional 0.31% fully diluted share in AMP Energy Green (AMP), bringing the total stake in AMP’s stock to 12.17%. The Company’s purchase up to 12.17% of AMP in one or more tranches on a fully diluted basis over the course of the Power Purchase Agreement, SPSSA, and
On Wednesday, Manali Petrochemicals Limited (MPL) announced that its Board has given the go-ahead for an additional $35 million investment in its wholly-owned subsidiary AMCHEM Speciality Chemicals Private Limited in Singapore for prospective international acquisitions. The Chennai-based petrochemical firm stated in a regulatory filing that the investment would be made in one or more tranches
On Thursday, Airtel announced the opening of its Airtel 5G Plus services at Bengaluru’s Kempegowda International Airport’s (KIAB / BLR Airport) new Terminal. In order to make Terminal 2 the first airport in India with access to the lightning-fast 5G network, Airtel announced the rollout of Airtel 5G Plus in that location. Customers can now
Under the output linked incentive plan, the domestic telecom equipment manufacturer HFCL will invest approximately Rs 425 crore for equipment manufacturing over the next four years. One of the 42 businesses chosen for the telecom PLI plan is HFCL, which qualifies it for incentives of up to Rs 652.79 crore. “For the development and production
By 2030, JSW Steel wants to increase its capacity from the current 27 million tonnes to 50 million tonnes. In both greenfield and brownfield developments, the expansion will take place. When PSUs like Rashtriya Ispat Nigam Ltd (RINL) and iron-ore producer NMDC Ltd’s steel factory are divested, JSW group would make an offer, according to
