Food delivery aggregator Zomato, which began charging platform fee on orders from last August, collected Rs 83 crore through the new levy till March, the company’s annual report has revealed. Platform fee has been cited as one of the three key factors driving Zomato’s Adjusted Revenue, which grew 27 per cent year-on-year to ₹7,792 crore in FY24.
Infosys on Saturday said it has got a communication from the Directorate General of GST Intelligence (DGGI), closing the pre-show cause notice proceedings for 2017-2018 that amounted to ₹3,898 crore.
Earlier this week, the IT major said I had received a ₹32,403-crore GST notice from authorities.
JSW Steel has submitted a notice to surrender a mining lease for a block in Odisha, citing “uneconomic operation”. Jajang iron ore block in Keonjhar, is one of the four iron ore mining leases which were acquired through an auction in 2020, JSW Steel said in a regulatory filing on Saturday.
A unit of Qatar Investment Authority, SBI Mutual Fund, and foreign investment funds Nomura and Citigroup were the biggest buyers of shares in Adani group’s power transmission unit’s USD 1 billion QIP, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of Adani Energy Solutions Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Billionaire Stanley Druckenmiller’s family office-led investment firms were among the companies that sought shares of AESL in the QIP.
Adani Group-owned Ambuja Cement Ltd (ACL) on Saturday announced an investment of around Rs 1,600 crore in Bihar to set up a cement grinding unit at Warisaliganj in Nawada district. The 6 MTPA Warisaliganj cement grinding unit is the first venture in Bihar of ACL, which is aggressively expanding its capacity in the country, according to a statement from the Adani Cement entity. “The Warisaliganj Cement Grinding Unit, a standalone facility with an overall capacity of 6 MTPA (million tonnes per annum), will be established at an investment of nearly Rs 1,600 crore,” it said.
Power Mech Projects has received an order worth ₹142.5 crore from Meenakshi Energy in Andhra Pradesh for the revival of Phase II (2 X 350 MW) in Nellore District. The order needs to be executed within eight months.
USFDA has issued form 483 with three observations to Gland Pharma for its Pashamylaram facility. The facility was inspected between July 25 – August 2. The Hyderabad-based company said these observations are procedural in nature and corrective steps will be submitted within a stipulated period.
The Union Cabinet has approved investment proposal of ₹5,792.36 crore for SJVN’s 669 MW lower Arun Hydro Electric project in Nepal at a levelised tariff of ₹4.99 per unit.
Ashoka Buildcon said it has been declared lowest bidder for two projects worth ₹1,280.8 crore from the MMRDA.
DEE Development Engineers has bagged two international orders worth Rs 14 crore from Mitsubishi Heavy Industries, Japan, and GE Vernova International. Both orders are for supply of pre-fabricated carbon and stainless-steel piping components. While Mitsubishi’s order is expected to be fulfilled within 10 months, the other will likely be completed in 7 months. The GE Vernova International order is worth $473,249. The total value of Mitsubishi’s order is $12,79,995.
The board of Savita Oil Technologies has approved a buyback not exceeding 5,40,000 (representing 0.78% of the total number of equity shares in the paid-up share capital of the Company) at a price of Rs. 675 a share payable in cash for an aggregate consideration not exceeding Rs. 36.45 crore. The company has fixed August 16 as record date to identify eligible shareholders to participate in the buyback.
The board of Jay Bharat Maruti approved raising of up to Rs 500 crore through issue of securities.
State Bank of India (SBI) reported a marginal increase in first quarter (Q1FY25) standalone net profit at ₹17,035 crore despite robust credit growth as loan loss provisions weighed on the bottomline. In addition to moderate growth in net interest income, the current quarter’s net profit, up 0.89 per cent compared to the year-ago quarter’s ₹16,884 crore, was supported by write-back in other provisions.
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