BPCL: Bharat Petroleum Corporation Ltd, India's second-largest oil refining and fuel retailing firm, plans to scale up its renewable energy portfolio to 10 GW by 2040 - the year it is targeting net-zero carbon emission, chairman Arun Kumar Singh said on Monday. Addressing the company's annual shareholders' meeting, he said BPCL is diversifying and expanding into adjacent and alternate businesses, which will not only provide additional revenue streams but also offer a hedge against any decline in the oil and gas business.
NDTV: Adani group and NDTV's promoter entity RRPR Holding Ltd have approached Sebi, seeking clarity on the applicability of the regulator's earlier order regarding the conversion of warrants into shares, a decisive factor in the hostile takeover battle for the media group. Days after Adani group on August 23 announced acquiring a 29.18 per cent stake in NDTV through the acquisition of VCPL, which holds a 99.99 per cent stake in RRPR Holding, the media group's promoters have asserted that the deal cannot go ahead without Sebi's nod.
IRCTC: Indian Railway Catering and Tourism Corporation (IRCTC) issued a clarification to the exchanges on Monday after media reports suggested that the government has dropped its plans for IRCTC's offer for sale (OFS) for now due to volatile market conditions. IRCTC said it is not aware of any information regarding the government dropping the OFS plan. The reports suggested that the government was looking to raise ₹3,000 crore via dilution of 3.5% in IRCTC via offer for sale.
Adani Green: A key credit metric of Adani Green Energy Ltd. that ballooned as the firm’s billionaire-owner took on more debt will show a pullback in leverage, according to Nomura Holdings Inc. The Abu Dhabi-based International Holding Co. has injected $500 million into Gautam Adani’s green company, which will help stabilize its debt-to-capital ratio in the low 60% range from 95.3% at the end of March, said Eric Liu, credit desk analyst at Nomura Holdings in Hong Kong.
Vodafone Idea: Debt-ridden telecom operator Vodafone Idea's 5G services launch will depend on several factors such as use cases, customer demand, competitive dynamics etc., a senior official of the company said on Monday. While speaking at the 27th annual general meeting, Vi Managing Director and CEO Ravinder Takker said that the promoters of the company have invested ₹4,940 crore and the company is in active discussion with investors for fundraising. VIL acquired spectrum worth ₹18,800 crore, which includes radiowaves in the mid-band (3,300 MHz band) in 17 priority circles and spectrum in the 26 GHz band in 16 circles for 5G services.
Maruti Suzuki: Maruti Suzuki India Ltd, the country’s largest carmaker, expects the small or entry-level car market to remain a major part of the domestic market and a strong bet for the company despite dwindling sales of such vehicles. R.C. Bhargava, chairman, Maruti Suzuki, said the automaker will play a major role in the ₹5 lakh car segment in the coming years, even as its rivals vacate the market where volumes have halved as a percentage of total auto sector volumes over the last three years.
InterGlobe Aviation: The country's largest carrier IndiGo on Monday said it has joined a sustainable initiative spearheaded by the World Economic Forum (WEF). The airline has become a signatory to the Clear Skies for Tomorrow, India Coalition campaign. "IndiGo's commitment to the deployment of sustainable initiatives will help in achieving a significant scale for SAF (Sustainable Aviation Fuel) to gain a critical mass and bring in cost-efficiency for widespread adoption in India," it said in a release.
M&M: Mahindra Electric Mobility Limited (MEML), part of the Mahindra Group, has launched its all-new cargo electric three-wheeler – Zor Grand. The vehicle is priced starting at ₹3.60 lakh, ex-showroom Bengaluru. Mahindra has 12,000-plus bookings of the Zor Grand through Memoranda of Understanding with logistics companies like Mahindra Logistics, Magenta EV Solutions, MoEVing, EVnow, Yelo EV, and Zyngo, a company statement said.
EIH Limited: EIH Limited's luxury hotel chain Oberoi Group plans to invest ₹1,500 crore in setting up various projects in Andhra Pradesh, as per an official statement released on Monday. Oberoi Group President and Chief Operating Officer Rajaraman Shankar called on Andhra Pradesh Chief Minister YS Jagan Mohan Reddy. During the meeting Shankar expressed interest to invest about ₹1,500 crore in Andhra Pradesh, the statement said.
Lupin: Lupin on Monday said it has received tentative approval from the US health regulator to market Dasatinib tablets, used to treat certain types of cancer, in America. The company in partnership with Pharmascience Inc. has received approval from the US Food and Drug Administration (FDA) for Dasatinib tablets in strengths of 20 mg, 50 mg, 70 mg, 80 mg, 100 mg, and 140 mg, it said in a statement.
