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Vedanta: Vedanta Resources, the parent company of Mumbai-based mining giant Vedanta Limited, plans to cut debt by up to $3 billion over the next three years, according to a senior official at an analyst conference. The company has no plans to roll over the loan over the next few years. “Our priority is deleveraging. We plan to reduce Vedanta Resources’ debt by $3 billion over the next three years. Vedanta Ltd’s pre-growth capex cash flow is between $3.5 billion and $4 billion in fiscal 2025. This is expected to be sufficient for the maturity of secured debt of USD 1.5 billion,” said Navin Agarwal, Vice-Chairman and Member, Vedanta Ltd. PTI reported the promoter group’s remarks at the analyst meeting.
LIC Housing Finance: The company has a strategy to accumulate capital through green bonds in the coming year with the aim of financing eco-friendly housing projects. According to a PTI report, Tribhuwan Adhikari, managing director and CEO of LIC Housing Finance, said, “Next year, we will look at green finance and use the funds to finance green housing projects. We plan to use it for many purposes.” LICHFL he hopes to achieve a net profit with the borrowing strategy in 2024-2025. INR500 crore milestone by the end of this fiscal on the back of strong loan demand and expansion of non-core businesses, Adhikari added.
Signature Global: Real estate firm Signature Global on Sunday said it has sold over 1,000 flats in a luxury residential project in Gurugram, generating revenue of over 1,000 units. INR360 billion. This success is due to strong demand for residential real estate, especially in the luxury segment.In regulatory filings, the company said pre-launch sales were INR360 billion for the latest luxury residential development project ‘DE LUXE-DXP’ located in Sector 37D, Gurugram.
Reliable industry: Under the leadership of President Mukesh Ambani, the company plans to focus on clean energy and launch hydropower pumped storage projects (PSP), two people familiar with the plans said. The company’s subsidiary Reliance New Energy is actively searching for suitable locations for these projects, the people said. “RIL has identified potential PSP sites and intends to participate heavily in bidding for these projects,” one of the two said.
Godrej properties: The real estate developer has finalized an agreement to build a township project in north Bengaluru. The project will span a 62-acre parcel and will be operated on a profit-sharing model. 5.6 million square feet of salable area is expected, with a reservation value of INR500 billion. The company plans to begin the first phase of development on this land within the next fiscal year.
coal india: Coal India officials expressed confidence of achieving the production target of 780 million tonnes in 2023-24, BusinessLine reported on Saturday. This claim is particularly noteworthy given recent media speculation suggesting that the coal mining company could fall short of its target by 10 million tonnes. At a stakeholder meeting aimed at alerting mining equipment manufacturers to growing demand for their products, company representatives said earlier statements that they might not be able to meet their targets had been misinterpreted. revealed. Furthermore, the company has set ambitious targets for next year, aiming to produce 838 million tons, an increase of 7.5% from the target for 2023-24.
SJVN: The state-run power producer on Sunday announced that its subsidiary SJVN Green Energy has won a 200 MW solar power project in an e-reverse auction organized by Gujarat Urja Vikas Nigam. This project will be developed on a build-and-operate basis and is estimated to cost: INR1.1 billion, according to the company’s announcement. The statement revealed that SJVN has secured 200 MW of capacity through fee-based competitive bidding for the development of a solar power project at the 1,125 MW Gujarat State Electricity Corporation Limited (GSECL) Solar Park in Kavda, Gujarat. .
Lupin: Lupine Digital Health (LDH), a platform specializing in digital therapeutics for cardiac rehabilitation, aims to increase its customer base tenfold in the next year. Sidharth Srinivasan, his CEO of Lupine Digital Health, said in his interview with Mint that this growth is expected as the company expands its reach by entering new cities and partnering with additional hospitals. says. Srinivasan added: “Through the pilot phase of our platform, we have demonstrated in India that digital therapeutics can significantly improve patient outcomes, even for patients with severe heart disease.” Ta. Within nine months, we have successfully enrolled approximately 5,000 paying patients, with more than 2,000 patients still in the trial. ”
Britannia Industries: Varun Berry, vice chairman and MD, Britannia Industries, said the company is exploring the possibility of joint ventures to expand its portfolio into high-margin categories such as chocolate, fresh dairy products and salty snacks. Stated. Berry said the company, known for its Marigold and Good Day biscuit brands, is working with global consulting firm Bain & Company to develop an aggressive “go-to-market” strategy using a data-driven approach. It is said that he did.
tata motorsTata Steel: Tata Motors has unveiled a new generation of commercial vehicles powered by green fuel. The lineup, which includes Prima tractors, tippers and Ultra EV buses, utilizes liquefied natural gas (LNG) and battery electric technology. These vehicles were unveiled during the Tata Group’s Foundation Day celebrations held in Jamshedpur, presided over by Tata Sons Chairman N. Chandrasekaran, and were used for transportation of steel products and raw materials. It was handed over to Tata Steel’s delivery partner.
Here is a comprehensive three-minute summary of what Finance Minister Nirmala Sitharaman said in her budget speech: Click to download!
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