Power Finance Corp
In a significant development, Power Finance Corporation (PFC), a state-owned organization, announced its financial assistance of Rs 9,187 crore to HPCL Rajasthan Refinery Ltd. This marks PFC’s first foray into extending support to the refinery and petrochemical sector, highlighting its commitment to nation-building in both power and infrastructure segments.
Tata Power
Tata Power Ltd, a prominent member of the Tata Group, Tata Power shares surge over 3% today, The surge followed the announcement of the company securing a smart metering project valued at Rs 1,744 crore in the state of Chhattisgarh. The contract was awarded to Tata Power by Chhattisgarh State Power Distribution Company Limited (CSPDCL). On the Bombay Stock Exchange (BSE), Tata Power’s stock experienced a rise of 3.15%, reaching Rs 228.65. The stock opened higher at Rs 225, in contrast to the previous closing price of Rs 221.65 on the BSE.
KEC International
In a recent announcement on July 5, KEC International, a prominent Indian engineering, procurement, and construction (EPC) company, revealed that it has successfully secured new orders totaling Rs 1,042 crore. Notably, a significant portion of these fresh orders comes from international clients, marking a significant milestone for KEC International’s railway business as it ventures into global markets.
Ideaforge Technology
The top drone manufacturer Ideaforge Technology is set to make its debut on the stock exchange on July 7. The initial public offering price has been set at Rs 672 per share.
JK Cement
JK Cement’s subsidiary JK Maxx Paints has acquired an additional 20% stake, as the second installment, in Acro Paints for Rs 60.24 crore. As a result, JK Maxx Paints now holds a total stake of 80% in Acro Paints, the manufacturer of paint and construction chemicals, effective immediately.
TCS
Tata Consultancy Services (TCS), the largest software services company in India, announced on Thursday that it plans to provide training to 25,000 engineers in generative artificial intelligence (AI) tools and services. The training will be conducted by OpenAI, the renowned AI research firm known for creating ChatGPT, a popular chatbot.
Infosys
On Thursday, the IT company Infosys announced the establishment of a new subsidiary in Canada through its US arm, Infosys Public Services. The newly formed entity, known as Infosys Public Services Canada, will be headquartered in Ottawa and will occupy an area of 10,000 square feet.
Adani Green
Adani Green Energy Ltd (AGEL) announced on Thursday its plans to raise up to Rs. 12,300 crore. The renewable energy company stated, after a board meeting, that it intends to raise the capital through qualified institutional placement (QIP) or any other eligible securities, as per an exchange filing.
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