Swan Energy Limited rebranded the acquired company, RNEL, to Swan Defence and Heavy Industries Limited, effective January 02, aiming to establish itself as a key player in naval defence and oil and gas vessel manufacturing. The acquisition was made possible through a partnership with Nikhil Merchant and Hazel Mercantile, with Swan Energy owning a 74% stake in the SPV. The company’s stock rose by 3.06% on Thursday, with plans to collaborate with Balu Forge Industries Ltd. to address demands in the global railways, defence, and aerospace sectors.
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Top 5 news of the day: Another mid-air scare on Air India flight, Rahul Gandhi slams EC over data handling; & more
An Air India flight experienced mid-air door issues, prompting the DGCA to impose penalties for crew violations, while Rahul Gandhi raised concerns with the Election Commission regarding data handling. In a separate incident, Gurgaon police found the body of Tanu Rajput, believed to be murdered by her husband and in-laws, as investigations continue into these matters. Need More Context? 🔎
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