Business News

Ahead of the inauguration of a manufacturing facility for C-295 planes in Vadodara, official sources on Sunday said of the 40 aircraft to be made in India, the first C-295 is likely to roll out of the plant in September 2026. Prime Minister Narendra Modi had laid the foundation stone of the Final Assembly Line (FAL) plant of C-295 aircraft in Vadodara in October 2022. The Ministry of Defence in September 2021 signed a Rs 21,935-crore contract with Airbus Defense and Space SA, Spain for supply of 56 aircraft. Of these 56 aircraft, a total of 16 will be brought in flyaway condition directly from Spain, and 40 will be built in India by Tata Advanced Systems Ltd (TASL). First C-295 medium tactical transport aircraft was delivered in September 2023. As on date, the IAF has "already inducted six C-295 aircraft" in its Vadodara-based 11 Squadron. The last of the 16 flyaway aircraft will be delivered by August 2025, an official source said. Spanish Prime Minister Pedro Sanchez is scheduled to visit India from October 28-30, during which he will visit the Vadodara facility on Monday. PM Modi and his Spanish counterpart will inaugurate the Final Assembly Line plant of C295 aircraft at Vadodara, the first private sector final assembly line for military aircraft in India, the Prime Minister's Office (PMO) said in a statement on Saturday. "Of the 40 aircraft to be made in India, the first C-295 will roll out of the Vadodara facility in September 2026 and the remaining 39 aircraft by August 2031," the source added. The IAF is procuring the C-295 aircraft to replace its fleet of ageing Avro-748 planes that entered the service over six decades ago.

The Board of Sky Gold approved a bonus issue of shares in the proportion of 9:1, meaning investors will receive 9 additional shares for every share they hold in the company.The record date for this will be announced in due course.A company issues bonus shares for its shareholders to increase the liquidity of the stock and decrease its price, making it more affordable for investors.Bonus shares are fully paid additional shares issued by a company to its existing shareholders. When a firm issues bonus shares, its shareholders do not incur any extra costs to receive them. The number of bonus shares you receive depends on the number of shares you already hold in the firm.All shareholders who own shares of the firm before the record date, as determined by the company, are eligible for additional shares.The bonus shares, once allotted, will rank pari-passu in all respects and carry the same rights as the existing equity shares. They will also be entitled to participate fully in any dividends and other corporate actions recommended.Sky Gold is engaged in the design, manufacturing, and marketing of gold jewelry. The company offers a wide variety of designs to suit the preferences of its customers.It provides an extensive range of designs and incorporates studded American diamonds and colored stones in many of its jewelry products. The gold jewelry is available for special occasions such as weddings and festivals, as well as for daily wear, catering to all ages and genders at various price points.The product range includes necklaces, rings, pendants, bracelets, earrings, bangles, and customized jewelry based on customer demand. Its collection features designs such as Rangi, Marisa, Saathiya, Sovana, and Misha.Sky Gold shares have delivered exceptional returns to investors over the past year, surging by as much as 418%. On a year-to-date basis, the stock has risen by 256%.