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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102282) | |
22531. Ivanhoe Cambridge, a Canada based company to invest Rs 740 crore in Hyderabad
- Canada based company; Ivanhoe Cambridge announced that it will be setting up its unit in Genome Valley through MN park with an investment commitment of USD 100 Million for the creation of about 1 million SFT lab space in Genome Valley
- This is one of the first such transactions by a pension fund in the life sciences real estate segment in South Asia and shall set a benchmark for the sector in India. An investment of this nature in Hyderabad reinforces the leadership position in the life sciences sector.
- Ivanhoe Cambridge holds interest in more than 1,100 buildings, primarily in the industrial and logistics, office, residential and retail sectors.
22532. Tanuj Shori, CEO of proptech startup Square Yards, on building a one-stop shop for home buyers in India
- 1. Proptech or property technology is the application of technology to the real estate market.
- 2. It strives towards reducing paperwork while making transactions quicker, efficient, and secure. According to a report by JLL, India has the highest number of proptech startups in the Asia Pacific region.
- 3. Tanuj further explained through statistics that the demand for housing is set to grow by leaps and bounds in the coming years. According to him, “The segment that we are currently in, without expanding, we can grow by 20 to 50 times in the next few years.”
22533. FedEx To Invest $100 Million In Delhivery To Boost Business In India
- FedEx Express, a subsidiary of FedEx Corporation, will invest $100 million into Delhivery, India's leading logistics and supply chain services company in an attempt to "utilize their combined strengths to unlock India's international trade potential."
- FedEx Express will focus on international export and import services to and from India, and Delhivery will, in addition to FedEx, sell FedEx Express international products and services in the Indian market and provide pick-up and delivery services across India
- This strategic alliance will support our long-term vision to grow our India business and serve customers seeking to expand in or enter the Indian market, as well as provide opportunities to develop product and technology solutions together with Delhivery for the benefit of our customers
22534. WinZO announces 3rd Game Developer Fund of USD 20 mn
- a vernacular social interactive gaming platform, announced the third edition of its Game Developer Fund (GDF) with the largest ever corpus of USD 20 million (about Rs 147.2 crore).
- The company had announced its first fund of USD 1.5 million in July 2019, followed by Fund II of USD 5 million in November last year. WinZO made investments in the range of USD 100,000-USD 500,000 in each of the partnership varying from concept stage to near completion stage in the product life cycle, a statement said.
- Completion The games cover diverse genres from casual, action, sports to mid-core multiplayer games such as tennis, golf etc. The company aims to collaborate with the companies working in these areas through capital investment, infrastructural support and monetisation support, it added
22535. GAIL starts India's maiden project of blending hydrogen into CGD network
- GAIL (India) Limited has commenced India's first-of-it's-kind project of mixing hydrogen into natural gas system at Indore, Madhya Pradesh. The hydrogen blended natural gas will be supplied to Avantika Gas Limited, one of GAIL's Joint Venture (JV) company with HPCL, operating in Indore.
- GAIL has started hydrogen blending as a pilot project to establish the techno-commercial feasibility of blending hydrogen in City Gas Distribution (CGD) network. This project marks the stepping stone of India's journey towards hydrogen based and carbon neutral future.
- GAIL started injection of grey hydrogen at City Gate Station (CGS), Indore. This grey hydrogen would subsequently be replaced by green hydrogen. GAIL has already obtained necessary regulatory permissions to commence the project. GAIL has also engaged domain experts to carry out the impact assessment of blending of hydro gen in natural gas.
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22536. Isro gears for first launch of 2022, RISAT-1A to liftoff in February
- The Indian Space & Research (Isro) is gearing up for its first launch of 2022 during Valentine's Day week.
- The space agency is set to launch the Earth Observation Satellite, also called the RISAT-1A onboard the Polar Satellite Launch Vehicles as it gears up to find the lost rhythm due to Covid-19.
- Isro is planning to launch the satellite onboard its workhorse PSLV-C52 to Low Earth Orbit (LEO), likely between February 14-17. The final date for the launch is yet to be announced. Several missions led by Isro had been delayed in the last two years due to the coronavirus pandemic and the successive lockdowns that followed.
22537. SBI, Tata Power launch 'Surya Shakti Cell' for financing solar projects
- India’s largest lender State Bank of India (SBI) has launched a dedicated centralised processing cell - ‘Surya Shakti Cell’ after entering into an agreement with Tata Power Solar Systems Ltd (a Tata Power Company).
- SBI aims to offer an end-to-end platform for digital and hassle-free loan applicants for financing Solar projects. The bank, with this digital initiative, plans to provide a complete solution at competitive rates for Solar projects.
- The Surya Shakti Cell, which is set up in the Mumbai’s Ballard Estate, will process all the loan applications for Solar Projects (capacity up to 1 MW) from across the country, for business entities as well as household installation.
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22538. Indore first city to get H-CNG service commercially
- Indore has become the country’s first city to get hydrogen-blended CNG – called H-CNG – service, with state-run GAIL starting a project for selling the fuel from outlets run by its city gas joint venture, Avantika Gas Ltd.
- H-CNG is a cleaner-burning fuel than CNG and its use further reduces vehicular emission, which further helps address air pollution in cities. H-CNG is also a key component of the National Hydrogen Mission.
- H-CNG is a cleaner-burning fuel than CNG and its use further reduces vehicular emission, which further helps address air pollution in cities. H-CNG is also a key component of the National Hydrogen Mission.
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22539. Adani Total to invest Rs 12,000 crore on 14 geographical areas
- Adani Total Gas (ATGL), a joint venture between Adani Group and TotalEnergies of France, plans to invest Rs 12,000 crore on expanding the city gas distribution (CGD) network in 14 new geographical areas, won under the 11th round of bidding for CGD.
- the 52 geographical areas account for 15% of the country covering 124 districts across 18 states and 3 union territories, the company said.
- The government plans to increase natural gas share in the total energy basket to 15% from 6% at present by 2030. The 11th round of CGD bids were invited in September 2021 for 65 geographical areas spread across 215 districts in 19 states, and covers 26% of India’s population.
22540. IOC profit increases 19% to Rs 5,861 crore
- Indian Oil Corporation (IOCL) reported a net profit of Rs 5,860.8 crore on a standalone basis for the quarter ended December 31, recording a 19.2% rise from the same period a year ago.
- The rise in profit was also supported by the company’s tax expenses falling 43.8% annually to Rs 1,618.8 crore in the quarter.
- The refining throughput was 17.4 mt and the throughput of the corporation’s countrywide pipelines network was 21.8 mt during the quarter
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