Buzzing Stocks Today: KPI Green Energy, Hinduja Group, Tata Steel, VI and More – A Closer Look
KPI Green Energy
KPI Green Energy shared its Q2 results on Monday. They earned 215.95 crores in revenue this quarter, but that’s more than the 190.56 crores they made last quarter. The company’s growth increased by 13.32 percent when comparing the two quarters. In terms of profits, the company’s PAT (Profit After Tax) for this quarter was 34.74 crores, up from 33.26 crores in the previous quarter. Their quarter-to-quarter growth increased by 4.46 percent.
In a strategic move, Hinduja Group is currently engaged in discussions with private debt funds to secure approximately $800 million in financing. The intended purpose of this funding is to support the potential acquisition of Reliance Capital. People with knowledge of the matter, who have requested anonymity due to the confidential nature of the discussions, have revealed these developments.
In a recent development, Fitch Ratings has announced a notable upgrade in the credit ratings of Tata Steel Ltd (TSL), a prominent player in the domestic steel industry. Tata Steel’s ratings have been elevated to ‘BBB-‘ with a stable outlook, showcasing a positive trajectory for its financial standing.
Vodafone Idea (VI) has taken a decisive step to address the contentious issue of Adjusted Gross Revenue dues (AGR dues). On Monday, the telecom giant filed a curative petition with the Supreme Court, seeking a correction in the AGR dues they are required to pay.
In a significant development, GOCL Corporation wins order as IDL Explosives Limited (IDLEL), a subsidiary of GOCL Corporation Limited (GOCL) specializing in energetics, explosives, and mining services, has clinched its largest-ever order from Coal India Limited (CIL). This substantial order, valued at Rs. 766 crore, is slated for execution over a two-year span, commencing from October 2023 and concluding in October 2025.
Ather Energy, a prominent electric two-wheeler manufacturer, is gearing up for substantial growth by adding a state-of-the-art manufacturing facility to its arsenal, as reported by Hindu Businessline. Ravneet Phokela, Chief Business Officer of Ather Energy, shared exciting insights with Hindu Businessline, revealing the company’s strategic move to enhance production capabilities beyond their current base in Tamil Nadu.
In a significant move, Inox Green Energy Services, a subsidiary of Inox Wind, has revealed its plans to divest a 100% stake in Nani Virani Wind Energy Private Ltd, located in the vibrant state of Gujarat, known for its robust Gujarat Wind Farm. This announcement was made in a recent regulatory filing.
Shakti Pumps proudly announced its triumphant win of a massive Rs 149.71-crore contract within the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan scheme (PM-KUSUM Scheme). This momentous achievement marks the initiation of Component C within this visionary government initiative.
Bhopal-based construction and infrastructure development powerhouse, Dilip Buildcon, has announced a significant milestone by signing a substantial project deal worth Rs 396.93 crore with The Water Resources Zone in Udaipur, Rajasthan. The agreement was officially disclosed via an exchange filing.
In recent news, Vedanta Ltd, a prominent player in the mining and natural resources sector, disclosed that its Vedanta Ltd subsidiary, Hindustan Zinc, is facing a substantial tax penalty of Rs 1.81 crore.
Glenmark Life Sciences
On October 9, Glenmark Life Sciences unveiled its plan to distribute an interim dividend of Rs. 22.50 per share. This news was shared by the company via stock exchange notifications.
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