Tue, Nov 5, 2024 4:58 PM
Mazagon Dock's Orderbook Expands To ₹39,872 Cr In Q2
A Flip by Shubhangi Gupta
The union government on Tuesday proposed to sell up to 2.5% stake in Hindustan Zinc through an offer for sale (OFS), which opens on November 6. The floor price for the same is fixed at Rs 505 apiece, which is nearly 10% discount to the current market price. Under the OFS, the government will sell about 5.28 crore shares or 1.25% of equity with additional oversubscription option of 1.25% equity.
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Oil India reported its Q2 results on Tuesday evening. What Happened: Oil India reported a massive 464% year-on-year increase in standalone net profit to ₹1,834.07 crore. The company’s profit in the same quarter last year was affected by a one-time exceptional loss of ₹2,362 crore. The company’s revenue dipped 6.7% from the previous year to ₹5,518.95 crore.
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The joint venture (JV) between Rail Vikas Nigam Limited (RVNL) and Rithwik Projects Pvt. Ltd. (RPPL) has been announced as the lowest bidder for a significant rail infrastructure project in Karnataka. What Happened: RVNL disclosed on November 5, 2024, that the JV has emerged as the lowest bidder for the “Package C4A: Construction of Nine Stations” project.
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