Kumar Infra has secured a lucrative project valued at ₹1,847 crore from the Mumbai Metropolitan Region Development Authority (MMRDA). Meanwhile, Bajaj Finance reported impressive growth for the second quarter, with its Assets Under Management (AUM) increasing by 29% to ₹3.74 lakh crore, up from ₹2.90 lakh crore. The company’s deposits book also witnessed a significant rise of 21%, reaching ₹66,100 crore compared to ₹54,821 crore previously. In a notable financial move, Reliance Power plans to issue $500 million in unsecured foreign currency convertible bonds (FCCBs), offering a 5% annual interest rate over a tenure of 10 years.
The Indian Union Cabinet has granted approval for two significant farm sector schemes: the PM Rashtriya Krishi Vikas Yojana and the Krishonnati Yojana, with a combined value of ₹1.01 lakh crore. These schemes offer flexibility to state governments for their implementation, aiming to invigorate the agricultural sector.
Further adding to the dynamic business landscape, Mahindra Last Mile Mobility has unveiled the Mahindra ‘ZEO’—a zero-emission small commercial vehicle (SCV), with prices starting at ₹7.52 lakh. This eco-friendly initiative underscores Mahindra’s commitment to sustainable transportation solutions.
On the global front, the U.S. services sector showed robust activity in September, with the ISM Services Purchasing Managers’ Index (PMI) registering a reading of 54.9, surpassing the anticipated 51.3. Additionally, the ISM services business activity index stood at 59.9, significantly higher than the forecasted 53.
In a parallel development, ITD Cementation India has secured an order worth ₹1,937 crore in Uttar Pradesh, bolstering its project portfolio and strengthening its presence in the region. These developments signal a period of robust growth and strategic advancements across various sectors.
Original Story https://www.pratidintime.com/assambusinessnews/indian-equities-selloff-as-caution-grows-amid-geopolitical-risks
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