News Overview

The carmaker is getting ready to make a significant move into the electric vehicle market with the launch of its "Born Electric" range.

The broader market also trended downwards, with the BSE SmallCap index falling by 0.86% and the BSE MidCap index declining by 0.71%.

The action takes place in the midst of a plan to permit composite insurance providers on the market.

The discussion and approval of suggestions pertaining to fund-raising is on the agenda for the meeting.

Kunjal Mehta, the company's CFO, stated that the pipeline bids will comprise high voltage direct current (HVDC) lines.

The project, which was initially approved by the Indian Railways in 2015, now has fully functioning overhead electrification, according to the business.

The fiscal year ending March 31, 2024 had a total premium income of ₹4,75,070 Crore, up from ₹4,74,005 Crore the previous year.

NMDC experienced a loss of ₹30 Crore during the quarter due to interest on penalties for compensatory afforestation mandated.

Timken then stated that the net proceeds from the transaction would be used to support its 2023 capital allocation targets, with an emphasis on share repurchases.

Citigroup is the transaction's only book runner. Ontario Inc will retain a 2% ownership in the company following the acquisition.