Larsen & Toubro has secured an ultra-mega contract worth more than Rs. 15,000 cr. in West Asia. The project involves engineering and construction work related to gas-compression facilities and associated infrastructure.
Larsen & Toubro has secured an ultra-mega contract worth more than Rs. 15,000 cr. in West Asia. The project involves engineering and construction work related to gas-compression facilities and associated infrastructure.
Sumax Engineering’s SME IPO entered its second day of bidding after opening on August 25. The Rs. 53.4-cr. issue has a price band of Rs. 95–101 per share and will remain open until August 28.
The Indian rupee strengthened by around 33 paise to close at Rs. 95.41 against the US dollar on Tuesday, recovering from its previous close of Rs. 95.74. The gain came as crude oil prices declined sharply and the Reserve Bank of India stepped in through dollar sales to support the domestic currency.
TVS Supply Chain Solutions has entered into a strategic partnership with Japan’s Sankyu Inc. to pursue opportunities across supply-chain and engineering services. Sankyu also intends to acquire a 0.5% stake in TVS Supply Chain, subject to regulatory approvals.
Annu Projects opened its IPO on August 25 with an issue size of around Rs. 175.06 cr. The price band has been fixed at Rs. 94–99 per share, with the bidding window closing on August 28.
Lumino Industries is the next major IPO to watch, with its public issue scheduled to open on August 27. The company plans to raise around Rs. 700 cr., with a price band of Rs. 78–82 per share.
The continuing conflict involving the US and Iran remains one of the biggest risks for global markets. The Strait of Hormuz is particularly important because disruptions to shipping through the waterway can quickly affect crude supplies, freight costs and insurance premiums.
India’s data-centre industry is entering a major expansion phase as artificial intelligence and cloud computing drive demand for computing infrastructure. Industry capacity has reportedly quadrupled, highlighting the rapid growth of India’s digital infrastructure ecosystem.
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