On August 26, the stock market closed on a strong note as benchmark indices Nifty and Sensex gained momentum, primarily driven by positive performances in metal and IT stocks. The market was also buoyed by the US Federal Reserve’s signals of a potential interest rate cut in the near future.
GPT Infraprojects: Kolkata-based infrastructure firm GPT Infraprojects announced that its Fund Raising Committee has approved a qualified institutional placement (QIP) to raise funds. The floor price for the QIP is set at ₹183.83 per equity share. The company may offer a discount of up to 5% on the floor price at its discretion.
Arihant Foundations and Housing Ltd: Chennai-based Arihant Foundations, through its SPV Vilaya Properties LLP, has partnered with Empee Hotels Ltd, the owners of Hilton Chennai, to develop a Grade-A commercial space adjacent to the hotel. This project will cover around 3 lakh square feet, with a gross development value of approximately ₹500 crores.
KPI Green Energy: KPI Green Energy announced that its wholly-owned subsidiary, Sun Drops Energia Private Ltd, has received letters of intent to execute solar power projects with a total capacity of 13.30 MW under the captive power producer segment. The projects have been awarded by companies like Sumicot, Ekta Prints Private, Radhika Fabrics, and Sanjopin Industries.
UltraTech Cement: The flagship company of the Aditya Birla Group, UltraTech Cement, has successfully raised $500 million through a sustainability-linked loan, with participation from six banks. This marks the company’s second sustainability-linked financing, following its inaugural sustainability-linked bond issuance in 2021.
HCLTech: HCLTech has extended its strategic partnership with Xerox, focusing on AI-driven engineering services and digital process operations (DPO). This collaboration is crucial to Xerox’s “Reinvention,” aimed at ensuring the company’s long-term sustainable growth.
Paytm: Paytm clarified recent media reports regarding a notice from SEBI to the company and its directors. The company stated that this is not a new development and had been previously disclosed in its financial results for the quarter and year ended March 31, 2024, and the quarter ended June 30, 2024.
Bondada Engineering: Bondada Engineering has been awarded a contract worth ₹576 crore to execute solar power projects across various districts in Maharashtra under the PM-KUSUM scheme. The contracts were awarded by Lumina Clean Energy Private Ltd, Purelight Energy Private Ltd, and VVKR Photovoltaics Energy Private Ltd.
Lemon Tree Hotels: Lemon Tree Hotels has signed a new property in Ayodhya, Uttar Pradesh, set to open in FY2028. The upcoming Lemon Tree Hotel, Civil Lines, Ayodhya, will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited.
Medi Assist Healthcare Services: Medi Assist Healthcare Services announced that its wholly-owned subsidiary, Medi Assist Insurance TPA Private Ltd, will acquire a 100% equity stake in Paramount Health Services & Insurance TPA Private Ltd (Paramount TPA) for ₹311.8 crore. Paramount TPA is owned by Fairfax Asia and Dr. Nayan Shah and his family.
