Consumer electrical goods maker Havells India Ltd on Thursday (July 16) announced a further expansion of its cable manufacturing capacity at its Vasanthnarasapura Industrial Area facility in Tumakuru, Karnataka, with an additional investment of approximately ₹255 crore. The company plans to increase the annual cable manufacturing capacity at the facility to 7,34,640 km from the…
PC Jeweller Ltd‘s board has approved a proposal to raise up to ₹1,000 crore through a qualified institutions placement (QIP) in one or more tranches, while also approving an increase in the company’s authorised share capital, subject to shareholder and regulatory approvals. The company plans to increase its authorised share capital from ₹1,310 crore to…
US stocks opened mixed on Thursday, July 16, as investors digested a fresh batch of corporate earnings, monitored developments in the US-Iran conflict, and assessed the latest economic data. Weakness in semiconductor stocks weighed on technology shares despite a strong quarterly report from Taiwan Semiconductor Manufacturing Co. (TSMC). The Dow Jones Industrial Average rose 0.3%…
Siemens Energy India is well placed to benefit from India’s growing power transmission and energy infrastructure spending, according to Nuvama. The brokerage has initiated a ‘BUY’ rating on the stock with a 12-month price target of ₹4,200, citing strong growth potential in its power transmission business, export opportunities and a long-term opportunity from high-voltage direct…
Samvardhana Motherson’s strategy of expanding beyond its traditional automotive components business is expected to deliver faster earnings growth over the next two years, according to Nuvama Institutional Equities. The brokerage has retained its ‘Buy’ rating on the stock and raised its 12-month target price to ₹168 per share from ₹155, citing strong growth in consumer…
Edtech company Physicswallah Ltd on Thursday (July 16) said its board has approved the acquisition of an additional 11% stake in Guiding Light Education Technologies Private Ltd (Sarrthi IAS) for a total consideration of ₹71.81 crore. The acquisition will involve the purchase of 1,100 equity shares of Sarrthi IAS. Following the completion of the Tranche…
Adani Enterprises Ltd. said its wholly owned subsidiary, Adani Defence Systems & Technologies Ltd. (ADSTL), has signed a share purchase agreement to acquire the remaining 44.6% stake in Flight Simulation Solutions Pvt. Ltd. (FSSPL) from the existing shareholders. ADSTL currently holds a 55.4% stake in FSSPL. Upon completion of the transaction, its holding will increase…
Diamond Power Infrastructure Ltd on Thursday (July 16) said it has received a Letter of Award (LOA) from Adani Energy Solutions Ltd (AESL) for the supply of AL59 aluminium alloy conductors for two transmission projects, with the contract valued at ₹185.16 crore excluding Goods and Services Tax (GST). The order includes design, engineering, manufacturing, assembly,…
India’s AI data centre expansion could create opportunities for electrical equipment manufacturers, with JM Financial Institutional Securities saying companies such as ABB, Siemens, Honeywell, Cummins and Kirloskar Oil Engines are well placed to benefit from the investment cycle. Speaking to CNBC-TV18, Priyankar Biswas, Head of Industrials and Logistics Research at JM Financial Institutional Securities, said…
WeWork India reported a sharp improvement in its financial performance for the first quarter of FY27, with its net loss narrowing to ₹4.3 crore from ₹14.1 crore a year earlier, as higher demand for flexible workspaces drove strong growth in revenue and operating profit. Revenue rose 27.7% year-on-year to ₹705 crore from ₹535.3 crore, while…
