Fitch Ratings has affirmed its BBB- ratings with a stable outlook on $400 million senior secured notes issued by Adani Transmission Limited (ATL). On the rationale behind the move, the rating agency said the credit assessment of the group reflects the project companies’ availability-based revenue under a supportive regulatory framework, with low technical complexity, reflected in high availability levels and operating performance that we expect to remain stable.
NCLAT, the Appellate Tribunal body of NCLT, has listed the plea challenging insolvency proceedings against the company. Meanwhile, the NSE has removed the stock from the F&O segment following the IBRC (bankruptcy board) move to admit the company for insolvency proceedings.
Tech Mahindra on Thursday said it has engaged group firm Comviva to expand partnership with Vodafone Germany for the digital transformation of its sales and customer experience processes. As part of this multi-year engagement, Comviva will deliver a unified sales solution across mobile, fixed, cable, and TV services businesses of Vodafone Germany.
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Rail Vikas Nigam Ltd has received a letter of award for a project worth ₹196.77 crore from MP Madhya Kshetra Vidyut Vitaran Company.
Infosys on Thursday announced that it will expand collaboration with tech giant Microsoft to drive enterprise cloud transformation globally. According to a statement, the extended strategic collaboration between Infosys and Microsoft is expected to benefit enterprises by bringing them the best of Infosys Cobalt cloud offerings and Microsoft’s cloud computing technologies, led by Azure, across the business value-chain.
Alkem Laboratories has informed the exchanges that after the inspection at the Indore manufacturing facility in July 2022, USFDA issued an Establishment Inspection Report (EIR) with one observation. The company had submitted a detailed corrective and preventive action (CAPA) plan to the regulator within the stipulated timelines, for the observation and hence the inspection has now been closed by the USFDA.
The investment committee of Bharat Forge has approved the transfer of the company’s stake in Aeron Systems, to wholly owned subsidiary Kalyani Strategic Systems. The leading forging company has decided to house all its defense-related investments under Kalyani Strategic Systems, for a better strategic alignment.
Isgec Heavy Engineering has received an order from a major steel company in eastern India for the supply of seven waste heat recovery boilers utilising waste gases from DRI sponge iron kiln. These boilers will generate steam at 125 kg/cm2(a) pressure.
West Coast Paper Mills has said the illegal strike of contract workers was called off and production at the paper and paper board division at Dandeli has re-started. There has been marginal production loss due to the disruption of plant operations.
Arvind Subramanian has resigned as Managing Director and Chief Executive Officer of Mahindra Lifespace Developers with effect from May 22, to pursue his personal interests outside the company. The company has appointed Amit Kumar Sinha as MD and CEO, for a period of five years with effect from May 23.
The National Company Law Tribunal’s Chandigarh bench has sanctioned the scheme of arrangement for the amalgamation of Cotton County Retail with Nahar Industrial Enterprises.