Published on: 4:54 pm
- HDFC Bank on Tuesday said in the filing that it has sold over 2% stake in Central Depository Services (India) Ltd (CDSL) in tranches during June 22, 2021 to August 24, 2021, garnering nearly Rs223cr from the sale.
- The private lender sold 23,11,000 Equity shares of face value Rs10/- each fully paid up held by the Bank in Central Depository Services (India) Limited (“CDSL” or the “Company”) through the secondary market route on the National Stock Exchange of India Limited (“NSE”). The divestment of a 2.21% stake in CDSL took place over a period from June 22 to August 24, 2021. Read more
Published on: 4:50 pm
- Max Healthcare Institute Limited board has approved additional investment in a wholly-owned subsidiary viz. Alps Hospitals Limited for an amount up to Rs50cr by way of subscription towards Rights Issue of equity shares of Alps.
- The company's stock trade ended at Rs324.80 per piece down by Rs1.3 or 0.4% from its previous closing of Rs326.10 per piece on the BSE. Read more
Published on: 4:49 pm
- ICRA has reaffirmed the credit ratings of the Container Corporation of India (ConCor). ICRA said that the rating continues to be on watch with developing implications.
- In its rationale note, ICRA said that the rating factors in the dominant position of CONCOR in the containerised rail freight business are supported by a large, pan India infrastructure and an established track record of healthy operational performance. Read more
Published on: 4:45 pm
- Poonawalla Fincorp Limited (Formerly Magma Fincorp Limited), has signed an MoU with Institute of Company Secretaries of India (ICSI) to provide collateral-free term loans to ICSI members as well as its employees.
- The scheme will benefit over 65,000 ICSI members across the country.
- The scheme offers an attractive interest rate, zero prepayment charges and host of other attractive benefits. Read more
Published on: 4:39 pm
- Asian Granito has made the clarification in the regulatory filing on Wednesday on its promoters will maintain the current level of holding and, if required, may also increase their stake.
- “There were some misconception posts the promoters holding coming down. The company also wishes to clarify that Promoters are holding around 26.12%, and they will continue to hold at this level. The promoters will increase holdings when the situation demands," the company said in the regulatory filing.
- The stock ended at Rs166.70 down by Rs1.5 or 0.89% from its previous closing of Rs168.20 on the BSE. Read more
Published on: 4:37 pm
- The Cabinet Committee on Economic Affairs chaired by Hon’ble Prime Minister Narendra Modi has approved Fair and Remunerative Price (FRP) of sugarcane for sugar season 2021-22 (October - September) at Rs. 290/- per quintal for a basic recovery rate of 10%, providing a premium of Rs. 2.90/qtl for each 0.1% increase in recovery over and above 10%, & reduction in FRP by Rs. 2.90/qtl for every 0.1% decrease in recovery.
- The Government’s proactive approach to protect interest of farmers is also seen in the decision of no deduction in case of sugar mills where recovery is below 9.5%. Such farmers will get Rs. 275.50 per quintal for sugarcane in ensuing sugar season 2021-22 in place of Rs. 270.75/qtl in current sugar season 2020-21. Read more
Published on: 4:37 pm
- CRISIL Ratings has reviewed the rating on total bank facilities Rs751cr of The Sandur Manganese & Iron Ores Limited and has upgraded the existing ratings.
- The long-term rating has been upgraded to CRISIL A/ Stable from CRISIL A- / Stable. The rating on short-term bank facilities of the company has been upgraded to CRISIL A1 from CRISIL A2+.
- Sandur Manganese & Iron Ores Ltd ended at Rs1,768.40 per piece up by Rs9.5 or 0.54% from its previous closing of Rs1,758.90 per piece on the BSE. Read more
Published on: 4:29 pm
- WardWizard Innovations and Mobility Ltd, leading manufacturers of electric two-wheelers brand ‘Joy e-bike’ has inaugurated two exclusive dealerships in Assam. The dealerships are equipped with complete sales and service facilities to facilitate the brands reach in the state.
- The first dealership was inaugurated under the banner of Mahavir Enterprises Pvt Ltd, located at Amingoan, Guwahati. The second dealership has started under the banner of Mahavir Mobility, located at Lokhra Lal Ganesh Road, Guwahati, Assam.
- Both the dealerships showcase the entire range of Joy e-bike’s electric scooters and motorcycles. They provide an immersive experience to the customers in making their purchases more pleasant. Read more
Published on: 4:23 pm
- ICRA’s outlook for the renewable energy (RE) sector is stable supported by the continued policy support from the Government of India, strong project pipeline and superior tariff competitiveness offered by wind and solar power projects - both in the utility and the open access segments.
- Further, tariff competitiveness offered by the solar and wind power projects in the utility auction route continued to remain superior, with tariffs remaining below Rs. 3.0 per unit, despite the upward pressure arising from the imposition of customs duty on imported cells and modules, w.e.f. April 2022. Read more
Published on: 4:17 pm
- The Cabinet Committee of Economic Affairs, chaired by the Prime Minister Narendra Modi, has approved the FDI proposal for an investment of upto Rs15,000cr in M/s Anchorage Infrastructure Investment Holding Ltd, an India investment holding incorporated specifically for the purpose of investment in infrastructure and the construction-development sectors which may include transport and logistics etc. along with downstream investment in the airport sector and aviation related businesses and services.
- The investment also includes transfer of share of Bangalore International airport Limited to Anchorage, and investment of Rs950cr in M/s Anchorage Infrastructure Investment Holding Ltd by 2726247 Ontariao Inc., a wholly-owned subsidiary of OAC which is the administrator of OMERS', one of Canada's largest defined benefit pension plans. Read more
Published on: 4:16 pm
- CRISIL Ratings has revised its outlook on the long term ratings of Krishna Institute Of Medical Sciences Limited (KIMS) to ‘Positive’ from ‘Stable’ while reaffirming the ratings at ‘CRISIL AA-/CRISIL A1+’.
- The outlook revision reflects the better than expected performance of KIMS in fiscal 2021 despite the pandemic, and expectations that the company will continue to sustain its healthy business performance.
- The rating continues to reflects the KIMS group’s established market position in Telangana and Andhra Pradesh through its network of nine hospitals under the “KIMS Hospital” brand, its sound operational efficiencies as reflected in improving in occupancy and Average Revenue per Bed per Day (ARPOBD), also leading to good profitability. Read more
Published on: 4:01 pm
- Brickwork Ratings has revised the credit ratings of IFCI Limited. The rating on Long Term Debt Instruments (Bonds / NCD) has been downgraded to BWR BB Outlook: Negative from BWR BBB Outlook: Negative. The rating on the proposed NCD is BWR BB Outlook: Negative, downgraded from BWR BBB Outlook: Negative.
- The credit rating agency revised secured NCD rating to BWR BB+ Outlook: Negative, downgraded from BWR BBB+ Outlook: Negative. On proposed Commercial Papers the rating was downgraded to BWR A4+ from BWR A3+. Read more
Published on: 3:59 pm
- Paddy procurement has reached at an all-time high level, surpassing previous high of 773.45 LMT in KMS 2019-20. About 129.03 Lakh farmers have already been benefitted from the ongoing KMS procurement Operations with an MSP value of Rs1,64,951.77 Crore.
- Paddy procurement in the ongoing season Kharif 2020-21 is continuing smoothly in the procuring States with the purchase of 873.68 LMTs of paddy (includes Kharif Crop 707.69 LMT and Rabi Crop 165.99 LMT) upto23.08.2021 against last year corresponding purchase of 763.01 LMT.
- Marketing Season RMS 2021-22 has concluded in wheat procuring States and till now (upto18.08.2021) a quantity of 433.44 LMT of Wheat has been procured (which is all time high, as it has exceeded previous high 389.93 LMT of RMS 2020-21) against the last year corresponding purchase of 389.93 LMT. Read more
Published on: 3:45 pm
- Kaveri Seed Limited on Wednesday informed the exchanges that the board of the company at a meeting held today has approved buyback of equity shares for an aggregate amount of Rs120cr. The buyback price has been set at Rs850 per share.
- The company's buyback will be from the open market through a stock exchange mechanism, it said in an exchange filing.
- The indicative maximum number of Equity Shares Proposed to be bought back at the Maximum Buyback Size and Maximum Buyback price under the Buyback would be 14,11,780 equity shares, which represent approximately 2.34% of the paid-up shares of the company as of March 31, 2021. Read more
Published on: 3:44 pm
- Keeping in view interest of sugarcane farmers (GannaKisan), the Cabinet Committee on Economic Affairs chaired by Hon’ble Prime Minister Narendra Modi has approved Fair and Remunerative Price (FRP) of sugarcane for sugar season 2021-22 (October - September) at Rs290 per quintal for a basic recovery rate of 10%, providing a premium of Rs. 2.90/qtl for each 0.1% increase in recovery over and above 10%, & reduction in FRP by Rs. 2.90/qtl for every 0.1% decrease in recovery.
- The Government’s proactive approach to protect interest of farmers is also seen in the decision of no deduction in the case of sugar mills where recovery is below 9.5%. Such farmers will get Rs275.50 per quintal for sugarcane in ensuing sugar season 2021-22 in place of Rs. 270.75/qtl in current sugar season 2020-21. Read more
Published on: 3:39 pm
- State-owned, Power Grid Corporation of India Limited has commissioned the 765 Kilo Volt (kV) Double Circuit (D/C) Vindhyachal –Varanasi Transmission Line. This has been done by its wholly-owned subsidiary PVTSL as per the scheduled target.
- On Wednesday, the Power Ministry said that this transmission line corridor shall provide strong connectivity between Northern Region (NR) and Western Region (WR) and facilitate the reliable flow of power, benefitting the overall social and economic system, by enabling the reliable flow of power to industries and households in Northern Region, Western Region and the entire country. With the commissioning of this link, the inter-regional power transfer capacity of the national grid has been enhanced by 4200 MW, taking the total capacity to 110750 MW in the country. Read more
Published on: 3:39 pm
- Markets witnessed a lacklustre day of trade, with the benchmark index closing on a flat note as option writers took the centre stage.
- Bank Nifty outperformed the Nifty index by ~0.5% as the index saw profit booking during the second half of the trade.
- Metal & Financial Stocks were among the top underperformers as fresh short positions were added in the stocks like Tata Steel, Jsw Steel & Axis Bank. Read more
Published on: 3:37 pm
- The Union Minister of Power and New & Renewable Energy, and President of International Solar Alliance, RK Singh on Wednesday said that India has already achieved emission reduction of 28% over 2005 levels, against the target of 35% by 2030 committed in its NDC (Nationally determined contributions). This makes India among one of the few countries globally which have kept to its Paris Climate Change (COP21) commitments along with an exponential increase in renewable energy capacity.
- The minister made keynotes in his address at the ‘INDIA-ISA Energy Transition Dialogue 2021’ organized by the International Solar Alliance (ISA) and the Union Ministry of New and Renewable Energy (MNRE). Read more
Published on: 3:26 pm
- Shares of Bajaj Finserv fell over 3% in the last hour of the trading session on Wednesday’s trade. The stock snapped hit a new high and was up for the second straight session. In the last one month has jumped around 25%.
- On Tuesday, the SEBI gave approval to Bajaj Finserv for setting up an Asset Management Company (AMC).
- “The company has received an In-Principle approval from the Securities and Exchange Board of India (SEBI) vide their letter dated 23 August 2021, for sponsoring a Mutual Fund”, Bajaj Finserv said in a filing to exchanges Read more
Published on: 3:24 pm
- Aarvi Encon Limited has informed that the Company has been assigned CRISIL SME 1 rating allotted by CRISIL Rating Limited on August 25, 2021.
- Aarvi Encon Limited, Maharashtra has been awarded SME Grading of CRISIL SME 1.
- Further, there is no revision in the Credit Rating and it remains same as last year. Read more
Published on: 3:23 pm
- CARE Ratings in its latest coal update, expects production to grow by 2-3% in the financial year FY22. India's coal production has risen by 19.3% yoy to 54.4 million tonnes (mt) in July 2021 over a low base.
- The country's coal despatch increased by 21.7% yoy to 62.3 mt in July due to higher demand from the power and the cement sector.
- Going forward, CARE said that coal production is expected to grow by 2-3% at 730-745 mt in FY22 compared with 716 mt in FY21. Read more
Published on: 3:21 pm
- CARE Ratings revised the credit rating of Dollar Industries Limited from CARE A+; Positive to CARE A+; Positive for long-term facilities and reaffirmed the existing credit rating CARE A1+ for short-term facilities/Commercial Paper issue.
- Hosiery and knitwear maker, Dollar Industries Ltd, net profit grew 40% at Rs23cr for the quarter ended June 30, 2021, as compared with Rs16cr during the same period last year. Revenue from operations grew by 28% at Rs205cr (Rs159cr) in Q1FY22. Read more
Published on: 3:12 pm
- Equity benchmark indices trimmed morning gains after hitting a record high on Wednesday’s trade. However, the markets are slightly higher with the BSE Sensex up 9 points up at 55,957.70, below 56,000 levels. The NSE Nifty rose 11 points at 16,636.
- On the sectoral front, stocks from the energy sector saw the most buying interest, while telecom stocks faced selling pressure.
- US stock futures traded mixed with Nasdaq Futures traded up 8 points while Dow Futures were down 9 points. Read more
Published on: 3:00 pm
- Sun Pharma Advanced Research Company Ltd has informed to the exchange regarding issue of equity shares upon conversion of warrants.
- Earlier on July 08, 2021 the company informed the allotment of 6,24,74,082 warrants, each convertible into or exchangeable for one fully paid up equity share of Re. 1 each of the Company, at an issue price of Rs. 178/- on preferential basis to 31 allottees (warrant holders).
- Pursuant to the provisions of SEBI, the warrant holders had paid 25% (Rs. 44.50/- per warrant) of the issue price of the warrant as the warrant subscription price. Read more
Published on: 2:53 pm
- Oil stocks were among the top bulls on Wednesday despite a decline in the country's crude oil production for July 2021. Nifty Oil & Gas index has gained more than 1% today and continues to perform on those levels. The index has also shrugged off fall in international crude oil prices.
- At around 2.52 pm, Nifty Oil & Gas was trading at 6,910.20 up 75.15 points or 1.10%. The index has touched an intraday high and low of 6,936.60 and 6,871.35 respectively.
- On the index, Adani Total Gas has locked to a 5% upper circuit. While state-owned HPCL surged 2.9%, Oil India and ONGC zoomed more than 2% each. Read more
Published on: 2:46 pm
- India’s Crude oil production during July 2021 was 2548.78 TMT, which is 3.78% lower than target for the month and 3.22% lower when compared with production of July 2020.
- Cumulative crude oil production during April-July, 2021 was 9961.65 TMT, which is 2.64% and 3.37% lower than target for the period and production during corresponding period of last year respectively.
- Unit-wise production details with reasons for shortfall are as under: Read more
Published on: 2:30 pm
- Indices trade flat as metal stocks trim gains as banking and financial services drag.
- BSE Sensex is currently 55,940.22 down 18.76 points or 0.03%.
- Nifty50 is currently 16,640.50 up 15.90 points or 0.1%. Nifty Bank is 35,505.85, down 0.58%. Mid-cap Index is down by 0.30%. Read more
Published on: 2:29 pm
- The Indian rupee fell against the US dollar on Wednesday tracking the firm American currency. Sentiments continue to stay nervous ahead of the Jackson Hole symposium that is due later this week. Moreover, the dollar regaining strength after having dipped overnight could add some pressure on the local unit.
- At the interbank foreign exchange, the rupee opened at 74.20 against the dollar, then fell further to 74.22/$, registering a fall of 3 paise over its previous close.
- On Tuesday, the local unit had settled at 74.19 against the US dollar. Read more
Published on: 2:15 pm
- Axis Bank has informed that the Bank has allotted 47,100 equity shares of Rs. 2/- each of the Bank on August 24, 2021, pursuant to exercise of stock options under its ESOP Scheme.
- The paid up share capital of the Bank will accordingly increase from Rs. 613,18,93,778 (306,59,46,889 equity shares of Rs. 2/- each) to Rs. 613,19,87,978 (306,59,93,989 equity shares of Rs. 2/- each).
- The scrip touched a high and low of Rs751.45 apiece and Rs737.35 apiece respectively during early trading deals on Wednesday. Read more
Published on: 2:12 pm
- The Reserve Bank of India (RBI) governor Shaktikanta Das has stated that any policy action by the central bank especially the monetary policy has to be very carefully calibrated and well-timed. He said that RBI needs to wait for the growth signals to become more sustainable.
- On RBI's website, the governor Shaktikanta Das interview with The Hindu Business Line on Wednesday has been uploaded.
- In the interview, when asked about CPI inflation projection for FY22 and the central bank's approach to it, the governor said that first thing is that our monetary policy is determined primarily by domestic factors. Read more
Published on: 2:10 pm
- The Nifty FMCG stocks took again the bull ride on Wednesday after a bearish day on Tuesday. The Index rallied over 300 points to outperform amid some volatile trade. Jubilant Foodworks, Godrej Consumer and Varun Beverages led the gains while Marico, United Breweries and United Spirits struggled.
- Benchmark indices were off record highs, trading flat during the afternoon on Wednesday, dragged by financials, pharma, and consumer durables.At around 2.10 pm BSE Sensex was trading at 56,055.69 up 96.71 points or 0.17% and Nifty50 at 16,670.80 up 46.20 points or 0.28%.
- Nifty FMCG was trading at 38,549.25 up 316.45 points or 0.83% touching a high of 38,663.30 and low of 38,264.30 during intraday trade on Wednesday. Read more
Published on: 1:58 pm
- Bharti Airtel stock was under pressure on Wednesday after the Supreme Court asked the department of telecommunications (DoT) to not encash the company's bank guarantees for recovering adjusted gross revenue (AGR) dues of Videocon Telecommunications.
- Videocon had sold its entire spectrum to Bharti Airtel and the latter had given bank guarantees worth Rs1,376cr.
- As per reports, the SC gave this breather to Airtel for three weeks period during which the company can appeal the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) against the demand notice that is issued by the telecom department. Read more
Published on: 1:41 pm
- Voltamp Transformers Limited (VTL) has allotted 43,23,835 and 20,639 equity shares of the face value of Rs10 each to Kunjal L. Patel and to Tara I K. Patel respectively, the shareholders of Kunjal Investments Private Limited (KIPL) as part of a scheme of amalgamation.
- The company’s board held a meeting on Tuesday for taking the certified copy of the order passed by the National Company Law Tribunal, Ahmedabad Bench, dated August 16, 2021, approving the scheme of amalgamation between Kunjal Investments Private Limited (KIPL) and the company on record and allotment of shares pursuant to the said Scheme. Read more
Published on: 1:32 pm
- In Ultratech Cement's sustainability report for 2020-21, Chairman Kumar Mangalam Birla said that the company is committed to working towards a low carbon future. He said that the company's "approach of integrating sustainability across the value chain of our operations has served us well."
- The Chairman said that the unprecedented disruption caused by COVID-19 has also provided corporations with an opportunity to look at business through a fresh lens. The scale and pace at which organisations had to move to a work-from home model for their offices, or run their manufacturing and supply chain operations in people and resource limiting circumstances, has thrown up many new learnings and insights. Everything that we have done to adapt to the challenges emanating from the pandemic has led us to a new paradigm for doing business. A paradigm that is more technology-driven and less resource-intensive. Read more
Published on: 1:30 pm
- Trident Texofab has informed that, Rating Committee of CARE has reviewed its ratings on the basis of recent developments including operational and financial performance of Company.
- Long term ratings has been revised to CARE BB- with Stable outlook.
- Revision in the rating assigned to the bank facilities of Trident Texofab Limited (TTL) factors in, decline in scale of operation, deterioration in capital structure and debt coverage indicators and elongation in working capital cycle due to stretched collection and inventory holding period in FY21. Read more
Published on: 1:30 pm
- Aptus Value Housing Finance India Limited shares are trading lower after the company yesterday listed on the bourses.
- The company is one of the largest housing finance companies in South India in terms of asset under management and has the largest branch network in South India among the peer set, as of March 31, 2021 (Source: CRISIL Report).
- On Tuesday, the shares are listed on BSE at Rs329.95 at a 6.53% discount over its issue price. The scrip got listed at NSE at Rs333 per share, a 5.66 % per cent discount over its issue price of Rs353. Read more
Published on: 1:30 pm
- BSE Sensex is currently 56,088.83 up 129.85 points or 0.23%.
- Nifty50 is currently 16,686.75 up 62.15 points or 0.37%. Nifty Bank is 35,635.00, down 0.22%. Mid-cap Index is up by 0.15%.
- Adani Ports, ONGC, Hindalco, HDFC Life, and Tata Motors are the top gainers. Bajaj Finserv, Titan, Bharti Airtel, Axis Bank, and Maruti are the top losers. Read more
Published on: 1:14 pm
- The Nifty Metal index traded in the fast lane on Wednesday despite base metal prices witnessing a cautious note ahead of key U.S. Federal Reserve gathering. A broad-based buying was recorded in Nifty Metal and the index emerged among top gainers. On the Nifty Metal, 12 scrips advanced and only 2 scrips declined.
- At around 1.07 pm, Nifty Metal was trading at 5,492.60 up 47.80 points or 0.88%. The index has touched an intraday high and low of 5,533 and 5,472.45 respectively.
- APL Apollo was the top gainer soaring nearly 3% followed by Hindalco and Welspun Corp surging more than 2% each. Read more
Published on: 1:05 pm
- The Nifty IT advanced further on Wednesday with heavyweight stocks driving the index to fresh record levels. The Index hit a new record high of 34,399.85 during early trade. While stocks like Larsen & Turbo Infotech, TCS, Tech Mahindra, Coforge, and Wipro hit new 52-week highs to boost the sector. HCL Tech and Mphasis were under pressure a bit.
- The Index has made significant gains in recent times and had a bullish start to the week.
- At around 1.05 pm, Nifty IT was trading at 34,127.80 up 289.40 points or 0.86%. Read more
Published on: 12:46 pm
- Kemistar Corporation Ltd has reported total income of Rs326 lakh during the period ended June 30, 2021 as compared to Rs220 lakh during the same period ended June 30,2020, registered a growth of nearly 48%.
- The company has posted net profit of Rs26.56 lakh for the period ended June 30, 2021 as against Rs24.20 lakh for the same period ended June 30, 2020, up by nearly 10%.
- The company reported total income of Rs604.50 lakh during the same period ended March 31, 2021. Read More
Published on: 12:35 pm
- Finance Minister Nirmala Sitharaman says that the Government is committed to working towards ensuring policy certainty. She said that the regulators also had a key role in ensuring the same and the Government is working with them as well on this important issue.
- Sitharaman said while interacting with Industry captains at a Confederation of Indian Industries (CII) interaction held in Mumbai on Tuesday. Read more
Published on: 12:31 pm
- Roto Pumps Ltd has earlier on March 31, 2021 informed Company's decision to pursue new business of Downhole Pumps for artificial lift and Mud Motors for drilling of wells in oil & gas industry.
- In this regard, the company has announced that it has started construction activities of new manufacturing facility from August 24.
- According to the regulatory filing, target date for completion of the same is by end of the current financial year. Read more
Published on: 12:30 pm
- Benchmark market indices trim gains as banking and financial services stocks fall.
- BSE Sensex is at 56,066.88 up 107.9 points or 0.19%.
- Nifty50 is at 16,676.00 up 51.40 points or 0.31%. Nifty Bank is 35,637.25, down 0.21%. Mid-cap Index is up by 0.08%.
- ONGC, Tata Motors, HDFC Life, Adani Ports, and Hindalco are the top gainers. Bajaj Finserv, Titan, Bharti Airtel, Axis Bank, and Maruti are the top losers.
- Nifty Oil & Gas, Metal, IT, and FMCG stocks drive trade while Banking and Financial Services stocks fall. Nifty Consumer Durables, Pharma, and Healthcare stocks are also in the negative territory.
- Out of 50 stocks traded on the BSE, 27 advanced, 22 declined and 1 unchanged. Read more
Published on: 12:28 pm
- The Reserve Bank of India (RBI) has approved the re-appointment of Sandeep Bakhshi as Managing Director and CEO of ICICI Bank with effect from October 15, 2021, to October 03, 2023.
- It needs to be noted that the bank's shareholders in the annual general meeting on August 09, 2019, had already approved the appointment of Bakhshi for a period effective from October 15, 2018, up to October 3, 2023.
- Bakhshi has been with the ICICI Group since 1986 and has handled various assignments across the group in ICICI Limited, ICICI Lombard General Insurance, ICICI Bank and ICICI Prudential Life Insurance. Read More
Published on: 12:16 pm
- Xelpmoc Design and Tech Limited informed the exchanges Tuesday about the allotment of 72 lakh equity shares of Rs27cr by way of preferential allotment.
- At around 12.18 pm, the company stock was trading at Rs379.90 per piece up Rs15.25 or 4.18% on the BSE. The company stock neared upper circuit 5% at Rs381.95 per piece during early trade on Wednesday. Read More
Published on: 12:15 pm
- Godrej Industries announced that its subsidiary, Pyxis Holdings Limited (“Pyxis”) has acquired a 95% stake of Godrej Housing Finance Limited (“GHFL”). Also, Pyxis has acquired a 100% stake in Ensemble Holdings and Finance Limited (EHFL).
- With the latest acquisition, EHFL has ceased to be a direct wholly-owned subsidiary of Godrej Industries and has become a step-down subsidiary of the Company with Pyxis being the immediate holding company for EHFL.
- Godrej Industries hold an 85% stake in Pyxis.
- The transaction in EHFL was valued at Rs5.73cr. Meanwhile, Pyxis's acquisition in GHFL aggregated to Rs405.9cr. Read More
Published on: 12:10 pm
- Gillette India Ltd has informed that the Board of Directors have appointed Srinivas Maruthi Patnam as an Additional (Executive) Director of the Company with effect from September 1, 2021. Srinivas Maruthi Patnam will hold office as Additional Director up to the ensuing Annual General Meeting.
- Srinivas Maruthi Patnam has done his Bachelor of Engineering from Nagpur University and has an MBA in Human Resources from Symbiosis Institute of Business Management, Pune.
- He has been associated with the Procter & Gamble and Gillette group for the last 21 years. Read more
Published on: 12:02 pm
- India Ratings & Research Limited (Ind-Ra) has assigned AA+/Stable rating on Basel III compliant Tier 2 Bonds of IndusInd Bank Limited. The credit rating agency has also reaffirmed AA+/Stable rating on Long Term Issuer Rating and Senior unsecured redeemable bonds (Rs20cr). It affirmed the Short Term Issuer Rating of IND Al+. On the additional Tier, 1 (ATl) Bonds Rs40cr, IND AA/Stable rating was affirmed.
- “The ratings reflect the following factors: the improving deposit and liability profile; the easing of the agency’s concerns on asset quality metrics and the ability of the bank to absorb stresses, including COVID-19 impact, overall economic recovery expectations, strengthened capital buffers and enhanced ability over the last one year to raise capital from the market, as the bank raised about Rs53 billion in FY21 (including promoter warrant conversion; total equity raise amounting to 15% of its FY20 net worth),” company shared Ind-Ra’s rating rationale on Tuesday. Read more
Published on: 12:00 pm
- Prestige Estates Projects announced that a wholly-owned subsidiary, Prestige Office Ventures has acquired a 70% equity stake in Shipco Infrastructure for creating logistics and warehousing space.
- The transaction was valued at Rs22.68cr and was completed on August 23, 2021.
- Shipco Infrastructure Private is a Company incorporated in 2006 and is into the business of real estate development.
- At around 11.59 am, Prestige Estates was trading at Rs343 per piece up 1.1% on Sensex. Read more
Published on: 11:51 am
- The Competition Commission of India (CCI) receives notice under Green Channel filed under sub-section (2) of Section 6 of the Competition Act, 2002 (Act) read with regulation 5A of the Competition Commission of India (Procedure in regard to the transactions of business relating to combinations) Regulations, 2011 (Combination Regulations) and is deemed approved.
- The proposed transaction relates to an internal corporate reorganization of the Daimler AG group of companies (“Daimler Group”). DAG is the parent company of the Daimler Group and it is a publicly listed stock corporation, established under the laws of Germany, having its registered office at Stuttgart, Germany. DTAG is a direct wholly-owned subsidiary of DAG. The proposed transaction is an internal corporate reorganization, relating to separating DTAG, which operates the Daimler Group’s trucks and buses business (“Trucks & Buses Business”), from the Daimler Group, to establish two independent companies (“Proposed Transaction”). Pursuant to the Proposed Transaction, the Trucks & Business will be spun-off to become a publicly traded company, where DAG will hold a minority shareholding and the majority share capital will be publicly listed. Read more