Embassy Developments Ltd has signed a non-binding Memorandum of Understanding (MoU) with the Government of Uttar Pradesh under the Invest UP framework for a proposed large-scale commercial development in Lucknow, Uttar Pradesh. The indicative proposal envisages the development of 2.5-3.0 million square feet of commercial real estate, with an investment of ₹1,500 crore.
Bharat Dynamics Ltd (BDL) has received following orders worth about ₹1,347.71 crore (gross) from M/s Hindustan Aeronautics Limited (HAL): Helina Launchers & LRUs of ₹1,109.37 crore (gross) and CMDS LRUs of ₹238.34 crore (gross). The order is to be executed in a span of 24-60 months.
Vedanta Ltd on Wednesday said it has incorporated a wholly-owned company Vedanta Property Platforms Ltd (VPPL) to foray into real estate sector. VPPL will serve as a strategic vehicle for Vedanta’s real estate business and related activities.
Bharti Airtel has been upgraded to a ‘BBB+’ rating from ‘BBB’ by S&P Global Ratings, reflecting strong growth in Africa and India and balance sheet discipline. The upgrade reflects Airtel’s improving earnings, disciplined capital management and strong market position, with a stable outlook contingent on maintaining leverage and cash flow growth, it said. “The stable outlook reflects our view that Bharti Airtel will pay down debt as earnings and cash flows rise, while maintaining a supportive leverage tolerance for the ‘BBB+’ rating over the next 12-24 months,” S&P said in a report on Wednesday.
Apis India Ltd, one of India’s leading honey processing and FMCG companies with a legacy spanning 100 years, has announced three senior leadership appointments as part of its ongoing efforts to strengthen organisational capabilities, and support next phase of growth. The company has appointed Arun Mishra as National Sales Head – General Trade, Ankit Nagar as Chief Financial Officer (CFO) and Key Managerial Personnel, and Pankaj Tripathi as GM-HR, Admin & IT.
Muthoot Capital Services Ltd has received a binding bid from an Asset Reconstruction Company, in connection the transaction involving the transfer of stressed loan portfolio (Financial Assets) to an Asset Reconstruction Company, which is being executed in accordance with the approval of the Board of Directors. The bid amounts up to ₹96 crore, for the stressed loan portfolio with a Principal Outstanding of up to ₹209.10 crore. The company will follow Swiss Challenge Method for further bidding and a final decision on sale of the referred assets shall be taken as per extant guidelines and the relevant policy of the Company.
Electrosteel Castings Ltd has successfully completed the regular annual maintenance activities and resumed operations at the MBF Production Facility at the Khardah Works. Furthermore, operations at the Main Plant are scheduled to resume from Thursday.
Shilpa Biologicals Pvt. Ltd, a material Subsidiary of Shilpa Medicare Limited and Sartorius Stedim India Pvt. Ltd have entered into a settlement agreement before the Addl. City Civil and Sessions Court, Bengaluru , for payment of ₹9 crore. This settlement amount is paid by Shilpa Biologicals Pvt. Ltd to Sartorius Stedim India Pvt. Ltd. Sartorius has alleged claim of ₹20.13, crore and applicable rate of interest. Both the Parties amicably negotiated and signed the settlement agreement for the settlement amount.
Western Railway has issued Letter of Acceptance worth ₹6.28 crore to Texmaco Rail & Engineering for work relating to Provision of Nylon Net, Anti monkey Climbing Device and anti-bird discover.
HCLTech, a leading global technology company, announced an expanded partnership with Nokia, to accelerate the adoption of autonomous networks through AI-driven network automation and co-innovation of network automation RAN applications (rApps) with four new rApps hosted on Nokia’s SMO Marketplace.
Accord Transformer & Switchgear Ltd (ATS), one of India’s leading manufacturers of transformers and switchgear solutions, has received Vendor Registration Approval from Uttar Gujarat Vij Company Ltd (UGVCL) for the manufacturing and supply of 500 KVA, 11/0.415 KV Level1 CRGO Copper Wound Distribution Transformers. The approval marks another significant milestone in the Company’s growth journey and further strengthens its position in India’s power transmission and distribution ecosystem.
Infosys, a global leader in AI-first business consulting and technology services, has announced its strategic collaboration with Sentara, a leading not-for-profit healthcare organization, to create a scalable foundation for AI-driven transformation that aims to enhance efficiency, support clinicians and staff, and improve experiences for patients and members. In a separate disclosure, Indy said that it is in collaboration with ANA’s Global CMO Growth Council, global leadership body driving growth for marketers, and LIONS, the parent platform and organiser of the Cannes Lions International Festival of Creativity, has announced the launch of the CMO AI Hub.
Building on their long-standing partnership, Hindustan Copper Ltd (HCL) and Engineers India Limited (EIL) signed a Memorandum of Agreement (MeA) on June 22. To support its expansive, vertically integrated operations-spanning from mineral exploration and end-to-end mining to smelting, refining, and downstream extraction-HCL will engage EIL under this agreement for consultancy, engineering, project management, safety and integrity studies, sustainability, and advanced technical solutions focused on copper, critical minerals, and rare earth elements.