Page 7 - Megha Engineering News Today

With the new year’s beginning, the countdown to the Lok Sabha elections in 2024 has started. The recent report from the Association of Democratic Reforms (ADR) has revealed that the Bharatiya Janata Party (BJP) received the highest donations through electoral trusts in 2022–23.

Olectra Greentech share price: On technical setup, the counter was trading higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150- and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 73.51. A level below 30 is defined as oversold while a value above 70 is considered overbought.

Megha Engineering and Infrastructure, Serum Institute of India, and ArcelorMittal Nippon Steel India emerged as the highest donors in the electoral bonds funding political parties in India in FY23, according to a report by ADR. Bhartiya Janata Party (BJP) received the highest amount of funding.

The BJP received Rs 259 crore or 70.69% of the total donations received by all political parties from electoral trusts. The BRS got Rs 90 crore or a fourth of the total donations received by all parties from all five electoral trusts. Other three political parties including YSR Congress, AAP and the Congress together got Rs 17.40 crore.

Government is considering allowing Chinese companies to dilute their stakes in Indian ventures on a case-by-case basis, potentially opening the doors for expansion in India. The decision comes amid tightened scrutiny on FDI from China since 2020, with security concerns being a top priority.

Olectra Greentech shares jumped 10.66 per cent to hit an intraday high of Rs 1,378.55 in Friday's trade. The stock was last seen trading 7.77 per cent higher at Rs 1,342.50. At this price, the multibagger scrip has rallied over 159 per cent in 2023.

On Friday afternoon Sudhakar Shinde and a delegation of civic officials carried out an inspection on multiple sites in Mumbai where construction work was underway for various infrastructure projects.

As of September 2023, promoters held 50.02 per cent stake in the company. It is a subsidiary of Megha Engineering and Infrastructures Ltd (MEIL) and manufactures electric buses in India. Olectra is also India's largest silicone rubber/composite insulators manufacturer for power transmission and distribution networks.

The BrihanMumbai Municipal Corporation (BMC) has finalised four major infra firms to construct the northern Dahisar-Versova section of the upcoming Mumbai Coastal Road Project (MCRP) set to cost more than Rs 18,000 crore, officials said ...

The entire project has been bifurcated into six different packages and the civic authorities invited tenders for all the six together.