Tata Power, KEC International and Avenue Supermarts to see some action today

Tata Power Company’s subsidiary Tata Power Renewable Energy’s (TPREL) subsidiary -- TP Saurya (TPSL) has successfully commissioned a 200MW solar project located in Bikaner, Rajasthan, for Tata Power Trading Company (TPTCL). Expected to generate an impressive 485 million units of energy annually, the project aligns with the Company’s mission to drive substantial contributions to India's renewable energy capacity. Furthermore, the project will be seamlessly integrated into the Central Transmission Utility (CTU) Bus, ensuring efficient distribution of clean energy across the region.

KEC International has secured new orders of Rs 816 crore across its various businesses. The company’s Civil business has secured orders for infrastructure projects in India including setting up of a Steel plant in Northern India; Building a Cement plant in Central India; and establishing a plant for Carbon derivates in Eastern India. The company’s Transmission & Distribution (T&D) business has secured orders for supply of towers in the United States of America. Its Cables business has secured orders for supply of various types of cables in India and overseas.

Avenue Supermarts (DMart) has reported a 19.89% increase in its standalone revenue from operations at Rs 12,393.46 crore in the fourth quarter of Financial Year 2023-24 (Q4FY24). The company had registered standalone revenue from operations of Rs 10,337.12 crore in Q4FY23. The total number of stores as of March 31, 2024 stood at 365. 

Brigade Enterprises has signed a Joint Development Agreement (JDA) with United Oxygen Company to develop a ‘Grade A’ office space on ITPL Road, Whitefield in East Bengaluru. The project will have a leasable area of 3.0 lakh sq. ft., and a Gross Development Value (GDV) of around Rs 340 crore.

Dhanlaxmi Bank’s gross advances stood at Rs 10409 crore (provisional) as of March 31, 2024 (Q4FY24), posting a 5.63% rise in year-on-year (YoY) terms against Rs 9854 crore as of March 31, 2023. Total deposits grew 6.80% to Rs 14259 crore (provisional) as of March 31, 2024, as compared to Rs 13351 crore as of March 31, 2023.

Thomas Cook (India) has inaugurated a new branch in the high potential market of Bhuj with a strategic intent to capitalise on the strong and growing demand from Gujarat. This increases the company’s consumer access in the state to 7 locations across Ahmedabad, Baroda, Surat, Rajkot, Anand and Bhuj. In addition to the customers from the city of Bhuj, the new branch will also service customers from the surrounding catchments of Anjar, Mundra, Gandhidham, Kandla, Bhachau, Naliya, Madhapar and Jodiya. 

Union Bank of India has raised $500 million (about Rs 4,200 crore) from foreign markets to fund overseas business growth. The fund was arranged by Dubai International Financial Centre (DIFC), Dubai Branch, Union Bank of India said in a regulatory filing.