Shares of Rail Vikas Nigam Ltd (RVNL) rose nearly 2% on June 30 after the company announced it had emerged as the lowest bidder (L1) for a major ₹213.22 crore contract awarded by South Central Railway. According to an exchange filing, the project involves designing, supplying, installing, testing, and commissioning an overhead equipment (OHE) system upgrade—transitioning from the current 1x25kV setup to a 2x25kV AT feeding system with feeder and earthing works. The upgrade will
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Multi-brand food services company Curefoods India has officially filed its draft papers with the Securities and Exchange Board of India (SEBI), gearing up to raise capital through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the IPO will feature a fresh issue of shares worth ₹800 crore, along with an offer-for-sale (OFS) of 4.85 crore equity shares by existing investors. Prominent shareholders participating in the OFS include Curefit Healthcare, Iron
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IndusInd Bank, reeling from one of the largest accounting scandals in India’s banking sector, has zeroed in on three seasoned executives to fill its top leadership positions. The shortlist includes Rajiv Anand of Axis Bank, Anup Saha of Bajaj Finance, and Rahul Shukla of HDFC Bank. The bank has been without a permanent CEO since late April, when Sumant Kathpalia and deputy Arun Khurana resigned, citing moral responsibility for massive undisclosed losses in its forex
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In what could become the biggest private investment in Bihar’s power sector, four major energy companies have lined up to build a 2,400 MW thermal power plant in Pirpainti, Bhagalpur. Adani Power, JSW Energy, Torrent Power, and Bajaj Group’s Lalitpur Power Generation Company have each submitted proposals to develop the project, which is expected to cost around ₹28,000 crore. The planned facility will comprise three units of 800 MW each, spread across approximately 1,200 acres
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The United States Securities and Exchange Commission (SEC) has informed a New York federal court that it has not yet been able to serve summons and complaints to Gautam Adani and Sagar Adani in connection with allegations of misleading investors about a major debt transaction. In a filing submitted to the US District Court of New York, the SEC confirmed that the process of serving legal notices is still underway. The case dates back to
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