Published on: 5:06 pm
- Sterling and Wilson Solar Limited has announced that it has received the first order worth ~ Rs1,500cr for its waste-to-energy business from a leading developer of energy assets in the UK and Europe. Last month, the Company had announced expansion of its renewable energy offerings to include hybrid energy, energy storage and waste-to-energy solutions.
- The facility will process 23.2 tonnes of non-recyclable solid municipal waste per hour, diverting over 185,600 tonnes of waste each year. The facility will generate around 19.6 MW of energy, enough to power over 30,000 homes, and will also provide heat that can be used by nearby businesses. Read more
Published on: 4:59 pm
- Birla Corporation will increase its annual cement production capacity to 30 million tons (mt) by 2027, said Harsh V Lodha, Chairman of the MP Birla Group, at the annual general meeting o f the Company. This is a new target set for the Company which had earlier said it would raise its production capacity to 25 mt by 2025.
- Birla Corporationcurrent production capacity is 15 .6 mt, which will go up to almost 20 mt by the end of the current fiscal year, when its greenfield 3.9 mt plant at Mukutban, near Nagpur, is commissioned. "Plans are afoot to reach a target of 30 mt by 2027," Lodha told shareholders, adding that details of the plans are to be announced when they are firmed up and approved by the Board of Directors. The aggressive expansion plan is reflective of the Company's improving profitability and cash flow. Read more
Published on: 4:53 pm
- Happiest Minds Technologies announced that the company has been ranked among the top 50 India’s Best Workplaces for Women 2021 by the Great Place to Work Institute. This is the third consecutive year that Happiest Minds is being recognized in this coveted list.
- Joseph Anantharaju, Executive Vice Chairman, Happiest Minds Technologies said, “We are proud to be recognized for the third consecutive time among the Top 50 India’s Best Workplaces for Women 2021 by Great Place to Work Institute. Happiness and Mindfulness are cornerstones of the Happiest Minds culture and we expect this to continue helping us to create an inclusive and joyous work environment.”
- Sachin Khurana, Chief People Officer, Happiest Minds Technologies said, “We are thankful to Great Place To Work Institute for this recognition. We are committed to sustaining a more engaging and meaningful work for our Women Happiest Minds and this recognition will further motivate us further in this journey.” Read more
Published on: 4:40 pm
- T S Global Holdings (TSGH) Singapore, a 100% indirect subsidiary of Tata Steel Limited, has executed definitive agreements with TopTip Holding Pte Ltd. ("TopTip"), a Singapore based steel and iron ore trading company, to divest its 100% equity stake in NatSteel Holdings Pte. Ltd. (“NSH”) for an Equity Value of USD 172 million (Rs1,275cr).
- Based on the historical performance of the transacted business, the Enterprise Value to EBITDA works out to be about 13 times. The wires business of NatSteel in Thailand (Siam Industrial wires) has been retained by Tata Steel as part of the downstream wires portfolio. Read more
Published on: 4:40 pm
- Morepen Laboratories has announced carving out its point of care (POC) Medical Devices business into a newly incorporated wholly-owned subsidiary, Morepen Devices Limited. The transfer of the business would happen as per the terms of the Business Transfer Agreement to be signed between both companies.
- “While the growth is stupendous, we believe this is only the tip of the iceberg. The Indian POC market is expected to touch US$ 16 billion by 2025 and we want to be the No 1 POC player in India with a very large part of our manufacturing being “Made in India”, said Anubhav Suri, CEO, Medical Devices Business. Read more
Published on: 4:30 pm
- CARE Ratings Limited has revised/assigned its rating for the bank facilities of Orchid Pharma Limited.
- The rating on long-term bank facilities Rs186cr (reduced from Rs427cr) has been revised from CARE BB+; Stable to CARE BBB-; Stable. On short-term bank facilities Rs50cr, the credit rating agency has revised CARE A4+ to CARE A3.
- Meanwhile for long-term bank facilities Rs75cr CARE BBB-; Stable has been assigned by CARE Ratings. Read more
Published on: 4:18 pm
- India Ratings & Research (India Ratings) has reaffirmed the ratings of Wockhardt Limited. The long-term issuer rating has been affirmed at IND BBB- /Stable. On term loan Rs2,776.30 million, IND BBB- /Stable rating has been affirmed.
- The credit rating agency also affirmed IND BBB- /Stable rating on fund-based limits Rs3,540 million. On non-fund-based limits of Rs1,712 million, the IND A3 rating has been affirmed.
- For fund-based/ non fund-based interchangeable limits Rs1,737.5 million, IND BBB- /Stable/IND A3 rating was affirmed by the rating agency. On term loan Rs,443.5 (USD 87.5) million IND BBB- /Stable rating was affirmed. On proposed working capital facilities Rs1,047.5 million IND BBB- /Stable/IND A3 rating was affirmed. Read more
Published on: 4:10 pm
- Aurionpro Solutions has announced strategically significant order win from Haryana State Transport Department, for the implementation of NCMC Open Loop Ticketing System and GPS System on BOOT model.
- Haryana State transport department is the key service provider for passenger transport in the State of Haryana, having fleet of 3488 buses and luxury buses, operated through 24 depots, and managing footfall of more than 40 crore passengers annually.
- Aurionpro will deliver this project in consortium with the AU small Finance bank as FI partner. Aurionpro will be responsible for the implementation of the state of art open loop automated fare collection system (AFCS) and online reservation system. Read more
Published on: 4:08 pm
- Lagnam Spintex, a listed company on NSE, announced on Thursday that the company has migrated from NSE EMERGE Platform to NSE Mainboard Platform.
- In its regulatory filing on NSE, the company said that the company will be Migrated from the NSE - EMERGE Platform to NSE Mainboard of the exchange with effect from today i.e. Thursday, September 30, 2021."
- "Equity shares of the company which are already listed under NSE EMERGE Platform is now migrated & admitted to dealings on the Mainboard Platform of NSE," Langnam added. Read more
Published on: 3:56 pm
- Telecom service provider, Vodafone Idea has clarified on media reports claiming that the promoters are likely to infuse a whopping Rs10,000cr in the company. The stock ended higher on Thursday.
- Stock exchanges sought clarification from the company over a news article appearing in the Financial Express titled, "Revival plans: Promoters may invest Rs10,000cr in Vodafone Idea, says govt".
- The article said that promoters of Vodafone Idea – Vodafone Plc and the Aditya Birla Group – have assured the government that they would put equity capital into the company, officials in the Department of Telecommunications (DoT) told FE. The officials said the company executives have conveyed they intend to invest around Rs 10,000 crore in the company. Read more
Published on: 3:55 pm
- Tata Consultancy Services (TCS) has been selected by The Multi Commodity Exchange India Ltd (MCX), India’s largest commodity exchange, as the technology solution provider for its growth and transformation journey.
- As part of Project Udaan, TCS will help MCX build a new technology core, transforming its trading as well as post-trade functions, to support its future growth and further strengthen its leadership position in the commodity derivatives market in India.
- TCS will design and deploy a cutting-edge, ultra-low latency, high availability, high resilience, and high-performance solution that integrates multiple systems to transform MCX’s operations end to end. To enable high throughput trading, the solution uses the Deutsche Börse T7 trading platform from the Deutsche Börse Group. Read more
Published on: 3:42 pm
- Adani Enterprises Limited on Thursday responded to the clarification sought by exchanges with reference to the news item that appeared on the website thehindubusinessline.com on September 24, 2021, captioned “Adani Airport to raise $500m via overseas bonds”.
- The company submitted that as of now Adani Airport Holdings Limited, a wholly-owned subsidiary of the company, is contemplating issuing an overseas bond issuance subject to the stable global and domestic financial market conditions for undertaking the capex programme for the airport business.
- The company regularly evaluates all opportunities across its various businesses with the objective of enhancing shareholders’ value. Read more
Published on: 3:40 pm
- Mahamaya Steel Industries Ltd has informed that the Company has succesfully produced a new Steel Product “Flat of 400 mm width & thickness 16mm”.
- Further, the Company is first in producing the said Product in Chhattisgarh region, which is one of the forward step of the Company towards making it “Under One Roof” for Majority of the Steel Products.
- On Thursday, Mahamaya Steel Industries ended at Rs92.55 per piece up by Rs0.2 or 0.22% on Sensex. Read more
Published on: 3:35 pm
- Markets witnessed a Volatile day of trade, with the benchmark index closing lower as across the board profit booking weighed in.
- Both Nifty and Bank Nifty saw a selling pressure during the closing part of the trade to close in the red.
- Stocks from the financial sector like SBI, ICICI Bank & Axis Bank were among the underperformers on account of a long unwinding. Read more
Published on: 3:31 pm
- State-owned BPCL has clarified over a buzz that claimed that the Kerala Industrial Infrastructure Development Corporation (KINFRA) and the company have joined hands petrochemical park in Kochi. The stock was trading volatile on Thursday.
- Stock exchanges had sought clarification over a new article in The Hindu titled "KINFRA, BPCL ink pact for petrochemical park in Kochi".
- The news article said that KINFRA and BPCL signed a memorandum of understanding (MoU) as part of the establishment of a petrochemical park on 482 acres at Ambalamedu here by 2024. Read more
Published on: 3:22 pm
- Bharti Airtel Limited today unveiled a refreshed brand identity ‘Nxtra by Airtel’ for its data centre business and outlined investment plans to significantly scale up its data centre network to serve the requirements of India’s fast-growing digital economy.
- Nxtra by Airtel has the largest network of data centres in India. It currently operates 10 large and 120 edge data centres located strategically across India and manages critical submarine landing stations. Coupled with Airtel’s global network, it offers a secure and scalable integrated solutions to global hyperscalers, large Indian enterprises, start-ups, SMEs and governments. Read more
Published on: 3:21 pm
- Dilip Buildcon Ltd has informed that the company has incorporated "BANGARUPALEM GUDIPALA HIGHWAYS PRIVATE LIMITED, the new SPV Company as a wholly owned subsidiary of the company.
- The project of the SPV Company is as under:
- "Construction of 4Lane Bangalore Chennai Expressway from Km 127.000 (Bangarupalem) to Km 156.000 (Gudipala) Section in the State of Andhra Pradesh under Bharatmala on Hybrid Annuity Mode (Phase II/Package III)." Read more
Published on: 3:15 pm
- JMC Projects (India) Limited (JMC), a leading Civil Engineering and EPC Company has secured new orders of Rs1,849cr. The projects include B&F Projects in India of Rs857cr and Social Housing Project in Maldives of Rs992cr.
- “We are delighted with the new order wins in the B&F business as we further expand our client base and diversify our footprint within India and international markets. We are particularly enthused with our first international B&F order in the Maldives, which will enable us to showcase our design and build capabilities for such a large size order."
- "With the above orders, our order inflows this year have reached Rs7,959cr. Our strong order book and robust execution capabilities give us a good visibility for growth in the coming quarters,” S. K. Tripathi (CEO & Managing Director), said. Read more
Published on: 3:06 pm
- National Internet Exchange of India (NIXI), a not-for-profit organization under section 8 of the Companies Act 2013, today held its 18th Annual General Meeting with Chairman Ministry of Electronics & IT (MeitY), New Delhi.
- While addressing the members of NIXI, at its 18th AGM, Shri Ajay Prakash Sawhney, Chairman NIXI and Secretary MeitY mentioned that “As enterprises rapidly rethink how to leverage technology as they adapt to the future, NIXI will be embracing and adopting new Digital Technologies and transformation at an unprecedented rate for businesses and netizens. Read more
Published on: 3:02 pm
- CRISIL Limited has assigned a rating on total bank loan facilities rated Rs308cr of Rupa & Company Limited. The rating on long-term bank loan facilities of the company has been rated at CRISIL AA-/Stable. For short-term rating, CRISIL A1+ has been assigned.
- All the ratings assigned by CRISIL Ratings are kept under continuous surveillance and review, the company said in a filing on Wednesday. Read more
Published on: 2:55 pm
- The Reserve Bank of India (RBI) has removed state-owned Indian Overseas Bank (IOB) from the Prompt Corrective Action Framework (PCAF) after supervision of the lender's performance.
- In a statement, RBI said that the performance of the Indian Overseas Bank, currently under the PCAF of RBI, was reviewed by the Board for Financial Supervision, adding, "it was noted that as per its published results for the year ended March 31, 2021, the bank is not in the breach of the PCA parameters." Read more
Published on: 2:50 pm
- Indices remain bearish as Banking and Financial Services struggle the most.
- BSE Sensex is currently 59,190.84 down 222.43 points or 0.37%.
- Nifty50 is currently 17,635.00 down 76.30 points or 0.43%. Nifty Bank is Bajaj 37,466.85, down 0.73%. Mid-cap Index is up 0.21%. Read more
Published on: 2:46 pm
- CRISIL Ratings has upgraded its rating on the long-term bank facilities of Trident Ltd to 'CRISIL AA/Stable from 'CRISIL AA-/Positive’. The rating on the short-term facilities and Commercial Paper has been reaffirmed at ‘CRISIL A1+’.
- The rating action reflects the expectation of continued healthy business performance and strong financial risk profile of Trident.
- The rating continues to reflect Trident’s diversified revenue profile with leading market position in the home textiles segment and established position in WPP, strong operating efficiency driven by integrated operations, and strong financial risk profile. Read more
Published on: 2:40 pm
- JK Cement Limited has undertaken up-gradation of clinker Line 3 at JK Cement Works, Nimbahera, Unit of JK Cement Ltd in Chittorgarh, Rajasthan. The said up-gradation has been completed and commissioned on Wednesday. With this the clinker capacity of Line 3 stands increased to 6500 TPD (from 5000 TPD), the company said in a filing on Wednesday.
- At around 2.44 pm, JK Cement Ltd was trading at Rs3,091.10 per piece up by Rs29.6 or 0.97% from its previous closing of Rs3,061.50 per piece on the BSE.Read more
Published on: 2:26 pm
- Global Health Limited (Medanta) filed its draft red herring prospectus (DRHP) in connection with its initial public offering (“IPO”) with the Securities and Exchange Board of India (SEBI).
- The Book Running Lead Managers to the offer are Kotak Mahindra Capital Company Limited, Credit Suisse Securities (India) Private Limited, Jefferies India Private Limited and JM Financial Limited.
- Medanta was founded by Dr. Naresh Trehan, a world-renowned cardiovascular and cardiothoracic surgeon. He has been awarded the prestigious Padma Bhushan and the Padma Shri, the third and fourth-highest civilian awards in India, and the BC Roy award, in recognition of his distinguished contribution to medicine. Read more
Published on: 2:13 pm
- Add Shop E-Retail Ltd has announced that Company has expanded it's footprint in two another states and expanded franchise model by giving new 42 franchises.
- The Company. had opened a 2 New C & F in Rajasthan and another was in Himachal Pradesh during this month.
- "We are seeing very large numbers of opportunity in th per p is both states for our retail business. We have also open 42 new franchises across India to expand our franchise model during this month. Read more
Published on: 2:10 pm
- Nifty IT stocks were involved in mixed trade on Thursday, flip-flopping between modest gains and losses. The Index after a bullish start fell into the red zone before recovering losses. However, it was again struggling in the afternoon trade amid volatile markets.
- Technology stocks dipped on Wall Street on Tuesday and Wednesday as investors digest the impact of higher rates. The Index is having a bearish run this week.
- Larsen & Turbo Infotech was the lone gainer while L&T Technology Services dragged the most. At around 2.10 pm, Nifty IT was trading at 35,105.45 down 177.20 points or 0.50%. Read more
Published on: 1:53 pm
- Reliance Industries (RIL) stock is under pressure on Thursday after the company backed Saudi Aramco Chairman Yasir Al-Rumayyan's appointment as the Independent Director. RIL stated that Saudi Aramco's chief has satisfied every criterion laid down in the law and regulation to become the Director of the company.
- At around 1.40 pm, RIL was trading at Rs2501.90 per piece down 1% on Sensex. The stock was near the day's low of Rs2501.10 per piece.
- In its regulatory filing, RIL said that the law (Indian Companies Act, 2013) and the regulations prescribed by SEBI, the Indian Securities Regulator lay down stringent criteria for independence for appointment as independent directors of a listed company like RIL. The company said, "His Excellency Yasir Al Rumayyan satisfies every one of this criteria laid down in the law and regulations." Read more
Published on: 1:49 pm
- CRISIL Limited has assigned credit rating to Nahar Industrial Enterprises Limited total bank loan facilities rated Rs1000cr. The rating on long-term bank facilities has been assigned at CRISIL A-/Stable. The credit rating agency also assigned CRISIL A2+ rating on short-term bank facilities of the company.
- The company stock was bullish on Thursday and at around 1.52 am, Nahar Industrial Enterprises Ltd was trading at Rs110.95 per piece up by Rs4.2 or 3.93% from its previous closing of Rs106.75 per piece on the BSE. Read more
Published on: 1:42 pm
- Adani Renewable Energy (MH) Limited (AREMHL), a wholly-owned subsidiary of Adani Green Energy Ltd (AGEL), has signed definitive agreements with Essel Green Energy Pvt Ltd to acquire 100% economic value in an SPV that owns 40 MW operating solar project in Odisha.
- The project has a long-term Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for Rs4.235 per unit, with remaining PPA life of about 22 years.
- The closing of the transaction is subject to customary conditions. The acquisition of the project is at an enterprise valuation of Rs219cr. Read more
Published on: 1:31 pm
- The market regulator Sebi has banned an Infosys employee from trading on stock exchanges due to an ongoing insider trading investigation.
- The company in its regulatory filing said that on September 28, Infosys was informed of an interim ex-parte SEBI Order. In this Order, a former Infosys BPM employee and another third party, have been named in an ongoing insider trading investigation.
- Infosys said that the company is not a party in this matter. Infosys and our group companies have a well-defined Code of Conduct covering all its employees and an Insider Trading Policy that governs dealing with unpublished price sensitive information. Read more
Published on: 1:30 pm
- Indices turn bearish as IT, Banking, and Financial Services struggle.
- BSE Sensex is currently 59,206.60 down 206.67 points or 0.35%.
- Nifty50 is currently 17,637.70 down 73.60 points or 0.42%. Nifty Bank is Bajaj 37,611.45, down 0.35%. Mid-cap Index is up 0.42%. Read more
Published on: 1:23 pm
- The GST council through its clarification dated June 17, 2021 and vide subsequent policy circular issued by National Highways Authority of India (NHAI) on September 01, 2021, has made 12% GST applicable on annuity payment for HAM projects, received during the operations period. So far, goods and services tax (GST) for BOT-HAM projects, is applicable on the grants received from the authority during construction period and the O&M payments received during the operations period.
- However, clarity was missing on the applicability of GST on the annuity payments received during the operations period due to differing interpretations of GST notifications and other appellate rulings. Read more
Published on: 1:00 pm
- The Nifty Pharma stocks continued the winning streak to surge higher amid volatile trade on Thursday. The Index picked from a marginally higher start to edge 1% higher at one point of time before settling with modest gains in the afternoon.
- Abbott India Limited led the gains while Laurus Labs led the bull run from laboratory company stocks. IPCA Labs and DR Reddy’s followed Laurus in gains.
- Sun Pharma and Cadila also advanced to push the sectorial gains while Biocon and Lupin were also in the fast lane. Read more
Published on: 12:52 pm
- With a vision to be a fully integrated and globally competitive textile manufacturer, SVP Global Ventures Ltd, India's largest compact cotton yarn manufacturer is foraying into technical textiles. The company is investing around Rs. 100 crore in setting up a 4,375 MT per annum green-field facility for technical textiles at Jhalawar, Rajasthan.
- The company plans to manufacture protective uniforms and functional garments, medical textile, mobiltech, hometech, anti-odour and antibacterial knitted fabric for sports, medical and cosmetic uses in apparel and expand gradually in other products.
- The company plans to commence commercial production in 12 to 15 months. Read more
Published on: 12:40 pm
- DRC Systems India Limited has incorporated a wholly-owned subsidiary company ‘DRC Systems EMEA LLC – FZ’ in Dubai at AED one lakh.
- “DRC Systems is expanding its presence in UAE by opening its first wholly-owned subsidiary out of India, DRC Systems EMEA LLC - FZ. Through this subsidiary, the company is targeting to place itself strategically near to their existing customers, tap ever-growing IT and lTeS sector in the Middle East and taking demand and delivery to next level,” the company said in a filing.
- It further said, through this new expansion, the company will offer services and solutions around advanced technologies such as cloud computing, analytics, Enterprise Resource Planning (ERP), eLearning, Business Process Automation, machine learning and Al. Read More
Published on: 12:36 pm
- Tera Software Ltd stocks rally in the market on Thursday after it has announced that the company got a work orders worth Rs396.47cr (including GST) from Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL) and Pashchimanchal Vidyut Vitran Nigam Limited (PVVNL).
- Further, the Company has signed agreements with DVVNL and PVVNL for the aforesaid work orders for Door to Door Meter Reading, On spot bill generation, Bill distribution and Bill Collection in cluster-5 (Agra-I, Agra-2 and Aligarh Distribution Zones of DVVNL) and in cluster-1 (Meerut, Saharanpur and Noida Distribution Zones of PVVNL) for total quantity of 56,10,006 consumers in the State of Uttar pradesh. Read more
Published on: 12:30 pm
- Benchmark Market indices led by PSU Bank stocks edge marginally higher.
- BSE Sensex is currently 59,477.42 up 64.15 points or 0.11%.
- Nifty50 is currently 17,714.45 up 3.15 points or 0.02%. Nifty Bank is Bajaj 37,812.75,up 0.18%. Mid-cap Index is up 0.57%.
- Bajaj Finance, Sun Pharma, Bajaj Finserv, Titan, and HDFC are the top gainers. Asian Paints, Power Grid, Bajaj Auto, IOC, and Eicher Motors are the top losers.
- Nifty PSU Bank stocks are 2% higher while Pharma, Realty, and Consumer Durables stocks also remain bullish. Nifty IT, Auto, and Media stocks trade in the red.
- Out of 50 stocks traded on the BSE, 19 advanced and 31 declined. Read More
Published on: 12:16 pm
- Can Fin Homes Ltd has informed that CARE Ratings has reviewed and revised the rating outlook of the company to Stable from Negatlve while reaffirming the Ratings.
- The ratings has been reaffirmed at CARE AAA while revising the outlook to Stable.
- The ratings of the long-term bank facilities and various debt instruments of Can Fin Homes Limited (CFHL) continue to draw comfort from the strong parentage of Canara Bank resulting in Board level guidance and sharing of brand name. Read more
Published on: 12:06 pm
- Banking stocks recovered from early losses and were trading on slightly higher in the mid-session of Thursday driven by PSU bank stocks on privatisation hopes. The Bank Nifty hovered between 37,836 and 37,569.65 respectively. The performance also comes after the government extended the timeline of the Emergency Credit Line Guarantee Scheme (ECLGS) till March 31, 2022.
- At around 11.59 am, Bank Nifty was trading at 37,788.05 higher by 45.05 points or 0.12%. On the index, 10 scrips advanced and 2 scrips declined.
- Federal Bank was the top gainer soaring by 4.4% followed by PNB and AU Small Finance Bank climbing more than 2% each. RBL Bank and Bandhan Bank jumped more than 1% each. Read more
Published on: 11:53 am
- IndiGo, India’s leading airline announced Kanpur as its 71st domestic destination and 10th new regional destination this year. The airline will offer direct connectivity between Kanpur-Delhi effective October 31, 2021, and direct flights between Kanpur-Hyderabad, Kanpur-Bangalore, and Kanpur-Mumbai from November 1, 2021.
- IndiGo is committed to strengthening regional connectivity while making air travel more accessible and affordable. Read more
Published on: 11:53 am
- Prism Johnson Ltd has informed that the Company’s Cement Division has successfully bid for 1,96,400 tonnes per annum (TPA) of coal from Coal India Limited (‘CIL’) subsidiaries in a recently held auction of coal linkages for the cement industry.
- The Company has secured part fuel requirement for the next five years.
- Earlier the Company had a coal linkage of 1,86,200 TPA out of which 1,43,100 TPA has come to an end recently. Balance 43,100 TPA would be expiring over the next couple of years, s aid company in a regulatory filing. Read More
Published on: 11:49 am
- Padmaja Chunduru has been appointed Managing Director and Chief Executive Officer of National Securities Depositories Limited (NSDL).
- Padmaja Chunduru assumed charge as MD & CEO of NSDL on September 22, 2021. The appointment has been ratified by the shareholders of NSDL at its meeting held on September 29, 2021.
- “We are pleased that SEBI had accorded its approval for the appointment of Ms Padmaja Chunduru Managing Director and Chief Executive Officer of National Securities Depositories Limited (‘NSDL’)” NSDL said in the statement. Read More
Published on: 11:39 am
- Country’s largest lender State Bank of India (SBI) has signed a Master Agreement with Vedika Credit Capital Ltd (VCCL), Save Microfinance Pvt Ltd (SMPL) and Paisalo Digital Ltd (PDL), for co-lending to individual members of Joint Liability Groups (JLG) to undertake agriculture and allied activities including other income generation activities.
- With these partnerships, SBI would be able to further increase its reach in the rural and semi-urban areas of the country offering small ticket loans. Read more
Published on: 11:32 am
- D B Realty Ltd has informed to the exchange regarding acquisition of addltional equity stake by the Company in Neelkamal Realtors Tower Private Limited (NRTPL) and making it Wholly Owned Subsidiary of the Company.
- The company is currently holding ~42.82% stake in NRTPL.
- Company proposes to acquire entire i) 1,305,098 equity shares of face value of Rs. 10/- each held by IIRF Holdings VII Limited, Mauritius ("Seller 1) and ii) 197,556 equity shares of face value of Rs. 10/- each held by Vistra ITCL (India) Limited ("Seller 2) (who are currently holding 49.66% and 7.52% equity stake respectively) in NRTPL, subject to terms and conditions as contained in the Share Purchase Agreement executed on September 28, 2021 by the Company with Investors and NRTPL. Read More
Published on: 11:30 am
- Indices remain flat; PSU Bank and Pharma stocks drive overall subdued trade.
- BSE Sensex is currently 59,438.78 up 25.51 points or 0.04%.
- Nifty50 is currently 17,717.50 up 6.20 points or 0.04%. Nifty Bank is Bajaj 37,757.25, up 0.04%. Mid-cap Index is up 0.57%.
- Bajaj Finserv, Sun Pharma, DR Reddy, Titan, and NTPC are the top gainers. Power Grid, Eicher Motors, Hero MotoCorp, Shree Cement, and Bajaj Auto are the top losers.
- Nifty PSU Bank, Pharma, Realty, and Consumer Durables stocks drive trade. Nifty IT, Metal, Auto stocks trade marginally in the red while Banking and Financial Services stocks trade flat.
- Out of 50 stocks traded on the BSE, 22 advanced and 28 declined. Read More
Published on: 11:18 am
- The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Wednesday has approved the doubling of the Rajkot-Kanalus railway line.
- The total estimated cost of the project will be Rs1,080.58cr and its escalated / completion cost is Rs1,168.13cr. The total length of the doubling of the line is 111.20 km.
- The project will be completed in four years. Read More
Published on: 11:08 am
- The Investment and Borrowing Committee of Ugro Capital Limited on Wednesday approved the allotment of 100 (two hundred) rated, senior, secured, listed, transferable, redeemable, non-convertible debentures (‘NCDs’), each having a face value of Rs10 lakh aggregating to Rs10cr, on a private placement basis.
- The Board of Directors and Shareholders at the Annual General Meeting held on June 29, 2021, and September 1, 2021, respectively, approved raising funds through the issue of Non-Convertible Debentures on a private placement basis up to a limit of Rs2500cr and authorized the Investment and Borrowing Committee to approve such issuances from time to time as per business requirements of the company. Read More
Published on: 11:04 am
- The headline seasonally adjusted Purchasing Managers’ Index (PMI) – a composite indicator designed to provide a single-figure snapshot of operating conditions in the manufacturing economy – rose from 49.2 in August to 50.0 in September.
- This indicated that business conditions stabilised at the end of the third quarter, after a slight deterioration in the previous month. Nonetheless, the latest reading was the second-lowest seen for the past 17 months. Read More
Published on: 11:01 am
- Brickwork Ratings reaffirms the ratings for the Bank Loan Facilities of Rs91.57cr of Exxaro Tiles Ltd.
- Long term ratings has been reaffirmed to BWR BBB+/stable to positive reaffirmation while short term ratings has been upgraded at BWR A2 from BWR A3+.
- According to the rationale, the rating takes into consideration the experience of the promoters, prominent market presence,and average financial risk profile. The rating also takes into account the efforts of the Company to expand its export market. Read more