Current Affairs - Business

L&T (Larsen & Toubro) Construction's railways strategic business group has successfully secured a substantial contract for the Mumbai-Ahmedabad high-speed rail project. The contract, valued between ₹10,000 to ₹15,000 crore, involves the construction of 508 km of electrification works. This strategic win reinforces L&T's position in the infrastructure sector.

IndoSpace reaffirmed its commitment to Tamil Nadu's economic growth by signing a significant Rs 2000 crore Memorandum of Understanding during the Tamil Nadu Global Investors Meet 2024, attended by key dignitaries, including the Chief Minister of Tamil Nadu, and Union Minister of Commerce and Industry.

Tata Consumer Products Ltd (TCPL) successfully acquired a 100% stake in Capital Foods, the company famous for brands like 'Ching’s Secret' and 'Smith & Jones,' for ₹5,100 crore. The strategic acquisition is phased, with an initial 75% equity shareholding and the remaining 25% to be acquired over the next three years.

Simmtech, a South Korean company, is set to invest Rs 1,250 crore in establishing a semiconductor manufacturing plant in Sanand, Gujarat. This initiative aims to significantly strengthen the semiconductor ecosystem in the state, as revealed during the Vibrant Gujarat Global Summit by Union Minister Ashwini Vaishnav.

Viacom18 has entered into a four-year media rights deal with the International Hockey Federation (FIH) for the period 2023-2027, covering all FIH events except the FIH Nations Cup.