Tata Power secures contract worth Rs 400 crore from KSEB

Tata Power Company has secured a contract worth Rs 400 crore from the Kerala State Electricity Board Ltd (KSEB). The order consists of developing an 84 megawatt (MW) solar rooftop project for domestic consumers across all districts of Kerala. The project has to be commissioned within three months of receipt of an order from individual residential customers. The rooftop solar project is expected to generate 120 million units (MUs) of energy every year. 

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Delta Corp Q1 Results: Net loss at Rs 28.93 crore

Delta Corp Limited reported a consolidated net loss of Rs 28.93 crore for the quarter ended June 2021 (Q1 FY22). It had posted a net loss of Rs 28.24 crore in the corresponding quarter last year (Q1 FY21). Delta Corp had reported a net profit of Rs 57.77 crore in Q4 FY21. The company’s total income increased by 34.92% YoY to Rs 82.72 crore in Q1 FY22. Delta Corp is a gaming and hospitality company that owns and operates casinos and hotels.

Ashoka Buildcon receives order worth Rs 482 crore from Ircon International

Ashoka Buildcon Ltd has received a Letter of Award (LoA) from Ircon International for an order worth Rs 482.34 crore. The order consists of the supply, erection, testing, and commissioning of an Electro-Mechanical (E&M) System on the Dharam-Katra section of the Udhampur-Srinagar-Baramulla Rail Link (USBRL) project. Out of the 272 kilometers of the USBRL Project, work has been completed on 161 km and commissioned, said the Ministry of Railways in a press release. 

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JSW Steel’s output rises 65% YoY to 5.07 MT in Q1

JSW Steel Limited reported a 65% year-on-year (YoY) growth in production to 5.07 million tonnes (MT) for the quarter ended June 2021 (Q1 FY22). Total production rose 16% when compared to the previous quarter. The company’s capacity utilisation at the standalone level was at 91% in Q1. Amidst the second wave of the Covid-19 pandemic, JSW Steel had supplied over 65,000 tonnes of liquid oxygen across India during the April-June quarter.

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HCL Tech helps transform BP’s workplace services in multi-year deal

HCL Technologies Ltd has completed the first phase in building a modern digital workplace for UK-based multinational energy company BP. As part of a multi-year deal, HCL will help transform BP’s workplace services, enabling it to drive efficiency and create a standardised end-user experience for its employees across 500 sites. HCL Tech has been providing global site support services and managed telephony for 60,000 IT end-users at BP.

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HG Infra declared lowest bidder for road project in Delhi

HG Infra Engineering has been declared the lowest (L-1) bidder by the National Highways Authority of India (NHAI) for a road project in Delhi. The project involves the development of a six-lane Urban Extension Road (UER) on NH 344 M (Karala-Kanjhawala Road) in Delhi. The company’s bid project cost is Rs 1,393.11 crore. The order has to be completed within two years.

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Maruti Suzuki launches digital platform to provide car financing solutions

Maruti Suzuki India Ltd has announced the nationwide roll-out of its digital platform that provides end-to-end online car financing solutions to customers. The platform, Maruti Suzuki Smart Finance, will be available across India for customers of both Arena and Nexa dealerships. The automaker has on-boarded HDFC Bank, ICICI Bank, Yes Bank, Axis Bank, IndusInd Bank, and 9 other financiers to provide enhanced car financing experience to customers.

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Tata Motors partners with IndusInd Bank to finance solutions for passenger vehicles

Tata Motors Limited has launched offers for its passenger vehicle customers in partnership with IndusInd Bank. As part of the collaboration, Tata Motors will provide the ‘Step Up’ scheme where customers can choose and buy from its range of passenger cars in India, with a special low EMI option scheme for the first 3-6 months. This is part of the automaker’s constant effort to fast-track the availability of safe personal mobility solutions to individuals and families at pocket-friendly rates.

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BHEL receives order from NPCIL for Nuclear Steam Generators

Bharat Heavy Electricals Ltd (BHEL) has secured an order for the supply of 12 steam generators from Nuclear Power Corporation of India Ltd (NPCIL). The order has been valued at Rs 1,405 crore. The generators will be manufactured at BHEL’s plant at Tiruchirapalli (Tamil Nadu). This is part of NPCIL’s Fleet Mode procurement program, which mandates the supply of steam generators for India’s highest-rated 700 MWe Pressurised Heavy Water Reactors to be set up at 4 different locations in the country.

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Kitex Group being kicked out of Kerala: MD

Sabu M. Jacob, the Managing Director of Kitex Garments Ltd, has alleged that he is being ‘kicked out’ of Kerala due to harassment by the state government. The company is planning to shift its proposed project worth Rs 3,500 crore to Telangana. Tamil Nadu and Karnataka had also shown interest in the project after the MD announced that Kitex was winding up the project in Kerala, citing an alleged witch-hunt. Read more here.

IPO Updates

The Rs 963.27-crore initial public offering (IPO) of G R Infraprojects was subscribed 102.58 times on the final day of bidding. The portion reserved for retail investors was subscribed 12.57 times. The portion set aside for non-institutional investors (NIIs) saw a subscription of 238.04 times and that of qualified institutional buyers (QIBs) 168.58 times. To know more about the IPO, click here.

The Rs 1,546.62-crore IPO of Clean Science and Technology was subscribed 93.41 times on the final day of bidding. The portion reserved for retail investors was subscribed 9 times. The portion set aside for non-institutional investors (NIIs) saw a subscription of 206.43 times and that of qualified institutional buyers (QIBs) 156.37 times. To know more about the IPO, click here.


At the recent United Nations Climate Change Conference at Glasgow (COP26), India pledged to achieve net-zero carbon emissions by 2070. The Centre has committed to installing a non-fossil fuel electricity generation capacity of 500 gigawatts (GW) and sourcing 50% of India’s energy requirement from renewable sources by 2030. The government also aims to reduce 1 […]