Dilip Buildcon Limited on October 15 received a letter of acceptance from the Gujarat Metro Rail Corporation (GMRC) for a Rs 702.02-crore Surat Metro Rail Project Phase 1. According to the statement, the project must be finished in 26 months and includes building an 8.702-km elevated metro line with seven stations from Majura Gate to Saroli
The light tank being developed by the Defence Research and Development Organisation (DRDO) and Larsen & Toubro (L&T) will be ready for testing by mid-2023, L&T’s J D Patil has said in an interview. The light tank is being developed under the ‘Make-I’ or ‘Government Funded’ category of the Defence Procurement Procedure. Projects under the ‘Make-I’ category
The purchase of Channel Bridge Software Labs’ assets by Infosys has been given approval. Excluding employee retention and performance bonuses, the purchase consideration for IP and contracts is Rs. 1.42 crore. The goal of the acquisition is to add a mobile-based sales force automation solution to EdgeVerve’s TradeEdge lineup. The same was approved by the
On October 13, HDFC Life Insurance Company notified stock exchanges that Exide Life Insurance Company Limited’s merger with itself had been given final approval by the Insurance Regulatory and Development Authority of India (IRDAI). With the transfer of its life insurance business to HDFC Life, Exide Industries acquired 4.12 per cent stake in HDFC Life.
Due to a lack of interest from bidders, the government decided to abandon the privatisation of SAIL’s Bhadravathi steel plant on Wednesday. The Department of Investment and Public Asset Management (DIPAM) in a statement said the strategic sale of SAIL’s Visvesvaraya Iron and Steel Plant (VISP), Bhadravathi in Karnataka, had received multiple EoIs and bidders
Infosys stated on Thursday that its consolidated revenue for the September quarter increased by 23.4% year over year to Rs 36,538 crore. The net profit increased 11% to Rs 6,021 crores. In Europe, the company experienced a 30% growth, and in the US, a 15% growth. Parekh responded that Infosys is vigilant given the current
Achieving de-carbonizing targets requires a concerted and wide-ranging roadmap across all energy intensive sectors. As a part of this road map, hydrogen co-firing in gas turbines can play a key role in reducing the CO2 emissions. NTPC Ltd., being the largest power generator in India, intends to play a major role in energy transition and
BHEL has entered into two separate agreements with Coal India and NLC India Ltd to set up coal gasification based plants. Under the Memorandum of Understanding (MoU) with Coal India Limited (CIL), BHEL said it will jointly set up a coal to ammonium nitrate project based on gasification of high ash domestic coal. As per
Higher food prices caused retail inflation to spike to a five-month high of 7.4%, while factory output fell for the first time in 18 months, dealing a double blow to India’s economic recovery. The second consecutive month of rise in consumer price index (CPI)-based inflation will add to the pressure on the Reserve Bank of
Tata Motors Limited and Tata Power have entered into a Power Purchase Agreement (PPA) for a 7 MW captive solar power project at its Pantnagar plant in Uttarakhand. This solar plant will generate 215 million units of electricity, and will also help mitigate over 1.7 lakh tonnes of CO2, equivalent to planting 2.72 lakh teak trees
