Business Archives

20 Apr

Suzlon secures a 100.8 MW Wind Order from Sunsure Energy

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#SuzlonSunsureEnergy Chandigarh: Suzlon is accelerating renewable energy adoption among large corporations through Independent Power Producers (IPPs), supporting India's clean energy transition and the national goal of achieving 500 GW of non-fossil fuel capacity by 2030. Strengthening this commitment, Suzlon has secured a 100.8 MW EPC wind power order from Sunsure Energy, marking their maiden foray into wind energy. The project is set to be executed in Maharashtra’s Jath region. Under this agreement Suzlon will supply 48 state-of-the-art S120 wind turbine generators (WTGs) with Hybrid Lattice Towers (HLT), each rated at a 2.1 MW capacity. It will supply the wind turbines,…

20 Apr

Tata Steel Tubes Division Crosses One Million Tonne Milestone in FY25

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#TataSteelTubesMilestone ~ Positions Tata Steel as the most diversified tubes manufacturer in India ~ Chandigarh: Tata Steel’s Tubes Division has crossed a significant milestone of one million tonnes of production and sales in FY25, making Tata Steel the most diversified tubes player in the country. With applications ranging from large-scale construction, infrastructure projects, including metros, airports, and railways, to industrial ventures such as warehouses, Tata Steel Tubes continues to set industry standards. Its products cater to a wide array of sectors, including the automotive industry, serving both two-wheeler and four-wheeler manufacturers, the oil and gas sector, and various retail applications…

20 Apr

Knowledge transfer and technology sharing are key pillars to collective growth

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#Knowledgetransfercollectivegrowth Chandigarh: Africa’s largest tech and startup show, GITEX provided a platform for policy leaders, changemakers and visionaries to collectively discuss and deliberate on the opportunities to collaborate and further the imperative of inclusive and equitable growth of the global economy. India, where the pace of digitalization is higher relative to some other developing economies, with established open-source Digital Public Infrastructure systems, have the potential to catalyze speed of digitalization in other developing countries seeking to develop such systems through collaboration and knowledge sharing. Also, India has is a key resource talent hub for AI professionals leading the way with…

20 Apr

Mahindra Tractors flags off ‘Ashwamedh’ as part of its Nationwide ‘Rag Rag Laal Hai’

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#MahindraTractorsAshwamedh #RagRagLaalHai Campaign to Commemorate Four Decades of Market Leadership Chandigarh: Mahindra Tractors, a part of the Mahindra Group and the world’s largest tractor manufacturer by volume, today flagged off ‘Ashwamedh’ – a key initiative as part of its inspiring national campaign ‘Rag Rag Laal Hai’. This campaign marks four decades of Mahindra’s unmatched leadership in the Indian tractor industry and its enduring commitment to the nation’s farmers. The campaign commenced with a ceremonial flag-off from Mahindra’s mother plant in Nagpur, where six specially designated tractors, began a symbolic and spirited journey. Over the course of 45 days, the Ashwamedh…

19 Apr

Jio Financial Services Limited AUM crosses Rs. 10,000 crore, FY25 PPoP at Rs. 1,594 crore

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#JioJFSLAUMcrossesRs10000crore Mumbai: The Board of Directors of Jio Financial Services Limited (“JFSL”), at its meeting held in Mumbai today, approved the audited ﬁnancial results for the fourth quarter and ﬁnancial year ended March 31, 2025. Consolidated ﬁnancial highlights for the ﬁnancial year ended March 31, 2025, were as follows: ● Assets under Management (AUM) of Jio Finance Ltd. (JFSL’s NBFC subsidiary) stood at Rs. 10,053 crore as of March 31, 2025, up from Rs. 173 crore as of March 31, 2024, and Rs. 4,199 crore as of December 31, 2024. ● Income from Business Operations stood at Rs. 349 crore.…

19 Apr

KFintech to acquire Ascent Fund Services to expand into fast growing Global Fund Administration market

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#KFintechAscentFundServices Chandigarh: KFin Technologies Limited ("KFintech”), a leading provider of investor and issuer solutions to global asset managers, has entered into a definitive agreement with Ascent Fund Services Pte. Ltd (“Ascent”) to acquire controlling stake of 51% for US$ 34.7 million, with a path to 100% ownership over the next five years. Post this transaction, KFintech will become the sole promoter of Ascent, and the residual 49% stake will be acquired in three equal tranches of 16.33% each after the end of fiscal year 2028, 2029, and 2030 respectively. The transaction is subject to customary regulatory approvals. Headquartered in Singapore,…

19 Apr

Groww contributed by 40% to NSE’s 84 Lakh New Accounts in FY25

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#GrowwNSE ~Groww emerges as India’s fastest-growing brokerage platform, leading in active client growth and market share gains~ Chandigarh: India’s investing landscape continues to evolve rapidly, with FY25 witnessing the addition of over 84 lakh new active demat accounts on the National Stock Exchange (NSE), reflecting an annual growth of 20.5%. The total number of active demat accounts stands at 4.92 crore. At the forefront of this shift is Groww, which alone accounted for over 40% of these net additions – reinforcing its position as the country’s fastest-growing brokerage platform. As per NSE data, Groww’s active client base surged from 95…

19 Apr

PNB Housing Finance and Aadhar Housing Finance Expand Presence in North East India

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#PNBHousingFinanceAadhar Chandigarh: PNB Housing Finance Ltd. and Aadhar Housing Finance Ltd. announced their foray into the North East region of the country with the inauguration of their first -ever branch in Guwahati, Assam. This expansion marks a significant milestone in advancing affordable housing solutions, aligned with the government’s mission of ‘Housing for All’ and driving financial inclusion through the Pradhan Mantri Awas Yojana (PMAY) agenda. With a commitment to fostering home ownership in the underserved North East region, PNB Housing Finance and AadharHousing Finance will offer tailored, innovative affordable housing finance solutions as part of a strategicpush to bridge the…

18 Apr

SEBI is looking to ease AMC’s business activity restrictions, streamline MF scheme categorisation

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#SEBIAMCMFschemecategorisation Overhaul of mutual fund regulations, possible relaxations are in process Mumbai: The Securities and Exchange Board of India (SEBI) is working on a review of mutual fund (MF) regulations, including possible relaxations on clause 24 (b) restrictions on business activities, the scheme categorisation framework, and other recent operational changes, said Executive Director Manoj Kumar. Speaking at the CII’s 18th Mutual Fund Summit 2025, Kumar said, “We are doing a significant review of regulation 24. Those who are familiar with the regulation may recall that this is the only respective clause of the entire mutual fund regulation. We are also…

18 Apr

FIU-IND and RBI sign MoU for enhanced coordination and information exchange

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#FIU-INDRBIMoU The MoU will facilitate coordinated efforts towards effective compliance with Prevention of Money Laundering Act and Rules framed thereunder New Delhi: The Financial Intelligence Unit- India (FIU-IND) and the Reserve Bank of India (RBI) signed a Memorandum of Understanding (MoU) at New Delhi, today, as part of continued coordinated efforts in effective implementation of requirements of the Prevention of Money Laundering Act and Rules framed thereunder. The MoU was signed by Shri Vivek Aggarwal, Director, FIU-IND and Shri R.L.K. Rao, Executive Director, Department of Regulation, Reserve Bank of India. According to the MoU, FIU-IND and RBI will cooperate with…