News Overview

Telecommunications Consultants India, the only public shareholder in Bharti Hexacom, is diluting its 15% stake, equivalent to 7.5 Crore equity shares, out of its total 30% shareholding, through the OFS route. Promoter Bharti Airtel holds a 70% stake in the company.

The company has reached significant milestones in FY24, including its highest-ever cast metal production of 463,428 metric tons, bauxite excavation totaling 76,00,230 metric tons, and metal sales amounting to 470,108 metric tons. Additionally, during the year, the company expanded its product range by introducing a new aluminum alloy ingot (AL59).

The Sensex and Nifty indices are likely to open lower today, reflecting weak cues from global markets and SGX Nifty.

Leading the losses on the Nifty were Hero MotoCorp, HCL Technologies, Kotak Mahindra Bank, ICICI Bank, and SBI Life Insurance, while notable gainers included Tata Consumers Products, M&M, BPCL, Bajaj Auto, and Adani Ports.

According to George Kovoor, Senior Vice President, Beverages at PepsiCo India, the new establishment would be the company's second flavour manufacturing plant in India.

The contracts mandate completion within 12 months, with an additional 25-year operation and maintenance period from the commercial operation date for each project.

The new subsidiary will have an initial paid-up capital of ₹5 Crore, with a potential further investment of up to ₹250 Crore in one or more tranches, subject to board decisions.

As India progresses towards the critical phase of global polio eradication, this collaboration is poised to contribute significantly to the endeavor of creating a polio-free world.

Despite this setback, IREDA shares have surged by 150% over the past six months, outperforming the benchmark Nifty 50 index, which recorded gains of around 15% during the same period.

Two-wheeler sales saw a significant rise of 27%, reaching 3,13,885 units compared to 2,47,002 units YoY.