Latest News and Updates

• Abans Holdings IPO has received muted response from the investors on day 3 of the offer. The offer is subscribed 44% on day 3 and QIB is booked more than twice. Click here to subscribe Abans Holdings IPO.
• Abans Holdings is selling its shares in the price range of Rs 256-270 per share between December 12 and 15, with a lot size of 55 shares. The issue comprises issuance of fresh shares worth Rs 102.6 crore and an offer for sale (OFS) of Rs 243 crore. Read more

Latest News and Updates

• Indian equity markets rose further today. Markets are now factoring in a lower interest rate hike by US Federal Reserve tomorrow. Nifty 50 ended, up by 52.30 points. Sensex ended, up by 144.61 points.
• Top Gainers were Hindalco, JSW Steel and ONGC. Top Losers were Nestle India, ICICI Bank and Bharti Airtel. Read more

Latest News and Updates

• On final day of the offer, Sula Vineyards IPO was subscribed 2.28 times by 3:33 PM. The issue is entirely an offer for sale and company will not receive any proceeds. The price band for the offer is Rs 340-357 per share.
• The company has reserved 50% of the offer for qualified institutional buyers, 15% for high networth individuals, and the remaining 35% for retail investors. Read more

Latest News and Updates

• The initial public offer of automotive retailer, Landmark Cars is subscribed  on the day 2 of the offer by 3.30 PM. The company is offering its shares at the price range of Rs 481-506 per share. Investors can bid for 29 shares in a lot. Click here to subscribe Landmark Cars IPO.
• 50% of the offer has been reserved for qualified institutional buyers, 15% for high networth individuals and the remaining 35% for retail investors.
• Check the live subscription details of Landmark Cars IPO on December 14 at 3.30 PM Read more

Latest News and Updates

• Unicommerce eSolutions is planning its IPO. IIFL Securities and CLSA have been hired as merchant bankers for the IPO. Unicommerce provides cloud-based solutions to e-commerce companies. 
• Unicommerce's plan for initial public offering (IPO) comes shortly after parent company Snapdeal withdrew the drafting red herring prospectus for its own IPO. Read more

Latest News and Updates

• Bank of Maharashtra has reviewed and revised the Marginal Cost of Funds Based Lending Rate (MCLR) w.e.f. December 14, 2022 as under:
• According to the filing, Overnight MCLR has been revised from 7.30% to 7.50%. Similarly, One Month MCLR has been revised from 7.50% to 7.70%.
• Further, Three Months MCLR has been revised from 7.60% to 7.90% and Six Months MCLR has been revised from 7.70% to 8.00% Read more

Latest News and Updates

• According to a report, PharmEasy has laid off more employees. PharmEasy previously fired  employees from its subsidiary Docon Technologies on June 2022. Earlier this year, the company postponed its IPO. Startups like PharmEasy are reeling under the impact of unprecedented economic disruption caused by 2 years of Covid lockdowns. It has become much more difficult for these companies to raise funding from investors due to economic slowdown in most parts of the world. 
• The reason for this layoff: PharmEasy is having financial problems, according to a report by Inc42, and as a result, staff layoffs have intensified. According to Inc42, restructuring, socioeconomic difficulties, and the current situation between Russia and Ukraine were the causes of the layoffs. Read more

Latest News and Updates

• Jubilant FoodWorks' Domino's Pizza has introduced a new gourmet pizza line called Viva Roma. The new line of delectable pizzas, which defines authentic Italian taste in every sense, also adds a gourmet touch to the consumer experience.
• The Domino's Viva Roma line includes eight premium pizzas topped with a variety of delectable, indulgent cheeses such as Bocconcini, Burrata, and Parmesan, as well as a sauce made from the finest Italian tomatoes, stated the company.
• The new range is also crucial to the brand because it is designed to appeal to the palates and taste buds of customers seeking a luxurious yet authentic Italian experience, while also adding a new flavour profile to the portfolio. Read More

Latest News and Updates

• Sunil Kumar Alagh, former managing director and chief executive officer of Britannia Industries, will join VIP Clothing Limited as a strategic advisor, the leading innerwear brand in India with a 52-year legacy in the innerwear industry.
• Following Britannia, Alagh established SKA Advisors, a consulting firm that advises clients on marketing strategies. In 2004, he was elected President of the All India Management Association (AIMA) and served on the Board of Prasar Bharati Ltd.
• He currently serves on the boards of Eveready and Pritish Nandy Communications, and he has advised a number of leading Indian companies. Read more

Latest News and Updates

• Artson Engineering Limited informed that the company has received a purchase order for Rs 6.63 crore, excluding taxes.
• The order has been received from Aarti Industries Limited – Dahej. The order is domestic in nature.
• The company stated in its exchange filing that the order is for manufacture and supply of a buss loop reactor; buss loop heat exchanger, and buss loop piping under ASME U Stamp.
• The company expects to complete the order within a period of 35 weeks from the date of agreement. Read more

Latest News and Updates

Latest News and Updates

• The government extended the deadline for submitting initial bids for the privatization of IDBI Bank on Wednesday to January 7. A possible buyer's offer was requested in October as the government and LIC sought to sell 60.72 % of IDBI Bank. Expressions of interest (EoI) and preliminary bids have until December 16 to be submitted.
• The deadline for submitting an expression of interest has been changed from December 16th, 2022, to January 7th, 2023, according to a notice from the Department of Investment and Public Asset Management (DIPAM).
• Additionally, December 23 to January 14 is now the deadline for submitting physical copies of the EoIs. The state owns 60.72 % of IDBI Bank, which is currently held by the government and the Life Insurance Corporation (LIC) at a stake of 94.71 %. The winning bidder must make an open offer to purchase 5.28 % of the public shares. Read more

Latest News and Updates

• According to preliminary statistics released by the Commerce Ministry on Wednesday, India's wholesale price index-based inflation decreased to a 21-month low of 5.85% in November from 8.39% in October, on an annual basis.
• When compared to October's 0.39% gain, the monthly change in the WPI index for November 2022 showed a drop of 0.26%.
• According to the announcement, the decrease in inflation in November 2022 was mostly caused by lower prices for food items, basic metals, textiles, chemicals & chemical products, and paper & paper products when compared to the same month the previous year.
• Inflation for food products increased to 2.17% from 8.33% in October. The segment's inflation rate for primary articles was 5.52%, down from the previous month's 11.04% rate. Read more

Latest News and Updates

• The Commodity Participant Association of India (CPAI) has petitioned the authority on capital markets, SEBI, to allow market participants to hedge and trade cotton futures contracts continuously. This comes after SEBI in August temporarily halted trading in all-cotton futures contracts on the MCX to bring the contract terms into line with market conditions.
• Later, MCX disclosed that it is in the process of changing the cotton contract specification and that until the updated contract specification is finalized, no new positions in cotton contracts expiring in January 2023 or later will be allowed.
• The existing contract will expire on December 30, 2022, according to CPAI's letter to SEBI, which was sent on Monday. Five days before the expiration, the delivery period will begin. Read more

Latest News and Updates

• Coal India Limited (CIL) has issued letters of acceptance for seven coal projects to be pursued through Mine Developer and Operator model (MDO). These projects have a combined production capacity of nearly 100 million tonnes per year (MT/Y).
• CCL owns three of the seven projects, while two belong to MCL. SECL and ECL each have a single project.
• Two of the projects, the Siarmal open cast project (OCP) of MCL, Odisha, with a 50 MT/Y output capacity, and Hura 'C' OCP of ECL, West Bengal, with a 3 MT/Y output capacity, is expected to begin mining operations this fiscal year. Read More

Latest News and Updates

• According to government data released on Tuesday, the amount of wheat held in government warehouses in India for December decreased to the lowest level in six years due to increased demand and dwindling supplies. At the beginning of this month, 19 million tonnes of wheat were stored in state warehouses, down from 37.85 million tonnes on December 1st, 2021.
• Since 2016, when stockpiles had decreased to 16.5 million tonnes due to consecutive droughts in 2014 and 2015 that reduced wheat production, the current stocks for December are at their lowest level. The Food Corporation of India's statistics indicates that the government stockpile decreased by almost 2 million tonnes in November. Read More

Latest News and Updates

• Equitas Small Finance Bank Limited has announced revised interest rates on savings, fixed deposits, and recurring deposits in domestic and NRE/ NRO interest rate accounts. The interest rate increase will take effect from December 14, 2022.
• Customers with a closing balance of Rs 5 crore to Rs 30 crore will be eligible for 7% interest under the new scheme. Fixed deposit and recurring deposit interest rates have also risen, with the peak rates now at 8% and 7.75%, respectively. Read more

Latest News and Updates

• In Wednesday's intraday trading, shares of state-owned general insurance companies New India Assurance Company and General Insurance Corporation of India (GIC Re) rose to 12% amid high activity. At 12:10 PM, the S&P BSE Sensex was up 0.39 % at 62,778, in contrast.
• Individually, GIC Re shares increased 11% to reach a 52-week high of Rs 162.90 a share. The stock also increased over its previous high of Rs. 153, which it had reached on November 29, 2022. Around 7.8 million shares were traded on the NSE and BSE, doubling the counter's daily trading volume. Read more

Latest News and Updates

• In the latest move by the committee of creditors (CoC) of Reliance Capital, CoC has increased the base price for the e-auction of the company. Rejecting all the earlier bids, the RCap CoC has set a new base price for the auction which is almost Rs 1,500 crore higher than the earlier base price, i.e., Rs 6500 crore.
• Earlier, the base price of the e-auction was Rs 5,231 crore, which was the highest bid placed by the Cosmea-Piramal combined offer.
• As per various reports, now the auction will take place from Thursday, December 22 instead of December 19. According to the new set of rules, bidders in the first and second rounds will have to increase the bid value by at least Rs 1,000 crore each. This means the first bid has to be a minimum of Rs 7,500 crore and the second Rs 8,500 crore. Further, in the third and fourth rounds, the bid amount has to go up by Rs 500 crore and Rs 250 crore, respectively. Read more

Latest News and Updates

• In Wednesday's intraday session, Triveni Turbine shares rose  more than 3% on the BSE to a new high of Rs 308.45 after the company set the deadline for the proposed tender offer for share buyback. The stock surpassed the Rs 307.15 high it had previously reached on December 9, 2022. The firm has set the record date for assessing eligibility and the names of equity shareholders who will be able to participate in the repurchase as Friday, December 23, 2022, Triveni Turbine stated in an exchange filing.
• On November 2, the Triveni Turbine board of directors accepted a proposal to repurchase up to 5.43 million equity shares from the company's equity shareholders for a sum not to exceed Rs 190 crore through a tender offer on a pro-rata basis. Read more

Latest News and Updates

• Tata Communications Limited informed that the company has entered into a business transfer agreement for the sale of its non-network Internet of Things business comprising of Device, Application, Platform, and Managed Services components.
• The company has agreed to sell the IoT business to its wholly-owned subsidiary, Tata Communications Collaboration Services Private Limited (TCCSPL) as a going concern on a ‘slump sale’ basis.
• The transfer of the identified business undertaking to TCCSPL is subject to the satisfaction of the Agreement's conditions precedent and the receipt of any necessary permissions and consents, said the company in its exchange filing. Read more

Latest News and Updates

• Reliance Infrastructure Ltd has informed that it is in receipt of an arbitral award passed by the Singapore International Arbitration Centre in the matter of an arbitration between Shanghai Electric Group Co Ltd. and the Company.
• As per the filing, the disputes related to in connection with an alleged guarantee provided by the Company in relation to the construction of the Sasan Ultra-Mega Power Project. The Award against the Company is for a sum of ~Rs1,215 crore (including interest and expenses).
• Reliace Infra said in a filing, "The Company is in process of undertaking a detailed review of the Award and will initiate appropriate proceedings, as per legal advice, to challenge the Award and shall take all appropriate steps to safeguard its interests." Read more

Latest News and Updates

• Early Wednesday, the rupee lost 4 paise to trade at 82.64 against the US dollar. Foreign dollar strength and investors' fear of taking risks before the US Federal Reserve's interest rate announcement damaged the local currency. The rupee fluctuated within a narrow band of 82.60 and 82.65 throughout the first transactions. The rupee lost 9 paise to the US dollar and ended the previous trading day on Tuesday at 82.60.
• While everything was going on, the dollar index, which measures the dollar's strength against a basket of six different currencies, increased by 0.11 % to 104.09. Global oil benchmark Brent crude futures saw a 0.33 % decline to USD 80.41 per barrel. Read more

Latest News and Updates

• India Ratings and Research (Ind-Ra) has upgraded NCC Limited’s Long-Term Issuer Rating to ‘IND A+’ from ‘IND A’. The Outlook is Stable.
• According to the rating rationale report, Ind-Ra continues to rate NCC on a standalone basis after factoring in the support extended by the company to its subsidiaries to arrive at the ratings.
• Further, the upgrade reflects Ind-Ra’s expectation that NCC’s interest coverage (operating EBITDA/finance cost) will remain above 2.5x in FY23 and FY24, if the improvement in EBITDA and gross working capital cycle demonstrated in its IHFY23 results continues, the rating agency said. Read more

Latest News and Updates

• Mahindra & Mahindra Ltd., one of India's leading automotive companies, announced today that a Rs 10,000 crore investment in electric vehicles has been approved under the Maharashtra Government's industrial promotion scheme for Electric Vehicles.
• The company, through its subsidiary, will invest approximately Rs 10,000 crore over a 7-8-year period to set up the manufacturing facility, development, and production of Mahindra's upcoming Born Electric Vehicles (BEVs), some of which were showcased in Oxfordshire, UK, on August 15, 2022. Read more

Latest News and Updates

• A Memorandum of Understanding (MoU) was signed  by the state of Uttar Pradesh and the world's largest retailer and hypermarket chain, Lulu Group, to build six malls and a hotel in the state.
• Rakesh Sachan, the minister for MSME in Uttar Pradesh, signed a contract in Dubai for the construction of hotels and shopping centers with the Lulu Group.
• According to the memorandum of understanding, Lulu will invest a total of Rs4,500 crore to build shopping malls and hypermarkets in Noida, Varanasi, Gorakhpur, Ayodhya, Kanpur, and Prayagraj. Read more

Latest News and Updates

• Since the introduction of TDS provisions in July, the government said on Tuesday that it has collected a total of Rs 60.46 crore in tax from companies for transactions in virtual digital assets (VDAs), including cryptocurrencies.
• For transfers of cryptocurrencies like Bitcoin, Ethereum, Tether, and Dogecoin, the government has instituted a 30% income tax plus a fee and acess. A 1% Tax Deducted at Source (TDS) under section 194S of the I-T Act was implemented on payments exceeding Rs 10,000 made toward virtual digital currencies beginning July 1 to track the money trail. Read more

Latest News and Updates

• Abans Holdings IPO of Rs 355.60 crore opened for subscription on December 12 and will be closing on December 15. The IPO see a strong demand from qualified institutional buyers (QIBs) as the portion reserved for this category is fully subscribed with foreign investors making the entire buying.
• Check the live IPO subscription status on Day 3 of the offer, December 14, at 11.30 AM Read more

Latest News and Updates

• State Bank of India (SBI) increased interest rates by 15-100 basis points (bps) on various maturities for both domestic retail deposits and bulk deposits as of Tuesday due to increased competition among banks for resource mobilization.
• For retail deposits, SBI is providing a peak deposit rate of 6.75% on two-time horizons: one to less than two years and two to less than three years.
• Deposit rates were raised by 50 basis points for buckets of two to under three years. The rate rise for the category of one year to less than two years was 65 basis points.Read more

Latest News and Updates

• Boom Technology, a startup in the aviation industry, claims that it would use engines developed by a company better known for producing small engines used on drones and cruise missiles to power supersonic passenger jets.
• The engines will be designed by Florida Turbine Technologies (FTT) with assistance from GE Additive, a branch of General Electric.
• According to Boom, the aircraft might conduct test flights in 2026 and begin carrying passengers a few years later. Read more

Latest News and Updates

• Landmark Cars IPO has hit the primary market for subscription yesterday and will remain open for bidders till 15th December 2022. The company aims to raise Rs 552 crore from the issue. The premium auto dealer has fixed the IPO price band at Rs 481-506 per share.
• Check the live subscription details of Landmark Cars IPO on December 14 at 11:00 AM Read more

Latest News and Updates

• Sula Vineyards IPO subscription will be closing today, December 14. The largest wine producer and seller of India aim to raise ₹960.35 crore from its public offer and it is completely OFS (offer for sale) in nature.
• The company has fixed price band of the issue at Rs 340-357 per share. Investors who want to invest in the IPO needs to bid in the lot size of 42 shares and its multiples.
• Check the IPO live subscription details on December 14 at 11:00 AM in the table below: Read more

Latest News and Updates

• SBC Exports Limited has informed to the exchanges regarding work -order awarded by the National Informatics Centre Services Incorporated (NICSI).
• As per the filing, the Company received Twelve (12) Work Orders for providing Office Support, Project Management Support and Rollout Services from National Informatics Centre Services Incorporated.
• The aggregate purchase order cost of the said Work-Orders is Rs1,35,40,698/- (Rupees One Crore Thirty Five Lakh Forty Thousand Six Hundred and Ninety Eight only), the company said. Read more

Latest News and Updates

• The buyback of equity shares by Paytm was approved by the board. According to Securities and Exchange Board of India (Sebi) rules, One97 Communications Limited, the company that controls Paytm, announced a repurchase of up to Rs850 crore.
• The company also stated that the maximum buyback price will be Rs810 per share in the BSE filing (a 50 percent premium to the closing price as of the date of the board meeting). Read more

Latest News and Updates

• Rajiv Mehrishi's appointment to Tata Power's board of directors as an independent director has obtained shareholder approval.
• The necessary majority was obtained for the special resolution to nominate Mehrishi as an independent director.
• With almost 42 years of experience, Mehrishi is a retired Indian Administrative Service (IAS) officer from the Rajasthan cadre and the 1978 batch. Read more

Latest News and Updates

• SaveEat has received $500,000 in pre-series A funding from Credent Investment Pvt Ltd, bringing the foodtech startup's valuation to $4 million.
• The company plans to invest the money in marketing, team expansion, and technology. With the extra cash, the company might increase the size of its operations in Mumbai, Pune, and Bengaluru. Read more

Latest News and Updates

• The world's largest stock exchange, BSE, reported on Tuesday that it hadsadded 1 crore registered investor accounts to its platform in 148 days, bringing the total to 12 crore.
• Between July 18 and December 13, the exchange added 1 crore investor accounts, the BSE stated in a statement Comparatively, the prior milestones, worth 11 crore, 10 crore, 9 crore, and 8 crore, respectively, required an exchange in 124, 91, 85, and 107 days. According to the Unique Client Code (UCC), BSE reached the 12-crore mark on December 13, 2022, according to the exchange. Read more

Latest News and Updates

• HDFC Bank Limited has signed agreements to subscribe to 21,471 fully paid-up Compulsory Convertible Preference Shares with a face value of Rs 20 each at a premium of Rs 9,711 for an aggregate consideration of Rs 9,731 per CCPS to be issued by Mintoak Innovations Private Limited.
• Further, to purchase 10,538 fully paid-up Equity Shares with a face value of Rs 10 each at a premium of Rs 9,721 for an aggregate consideration of Rs 9,731 per equity share.
• Mintoak is a fintech startup that offers a payments-led platform with value-added services for merchants to engage with their customers and for acquirers to improve their engagement with merchants through digital engagement and value-added solutions. Read more

Latest News and Updates

Latest News and Updates

Latest News and Updates

• The Reliance Capital (RCap) committee of creditors (CoC) boosted the base price for the company's e-auction to Rs6,500 crore, upsetting potential bidders' calculations.
• The base price was increased to Rs6,500 crore during the CoC meeting in order to reflect the high valuation of the company's two profitable insurance assets.
• The offer made by the Cosmea Financial Holding and Piramal consortium was valued at Rs5,231 crore in the preceding proposal. Read more

Latest News and Updates

• According to the most recent price notification sent out by fuel retailers, petrol and diesel prices were stable on December 14 across metro areas.
• Cost of petrol and diesel in cities:
• Delhi: Petrol and diesel cost Rs 96.72 and Rs 89.62 a liter. 
• Mumbai: Petrol is being sold for Rs 106.31 per liter, and diesel for Rs 94.27
• Chennai: Petrol and diesel are priced at Rs 102.63 and Rs 94.24  Read more

Latest News and Updates

• The Committee of Whole-time Directors of Axis Bank Limited, has approved the allotment of 12,000 unsecured, rated, listed, subordinated, taxable, nonconvertible, Basel III compliant Tier II bonds (Series - 30) of the face value of Rs. 1 crore each ("Bonds"), for cash, at par aggregating to Rs12,000 crore at a coupon rate of 7.88% p.a. payable annually, on a private placement basis.
• The said Bonds are rated "AAA/Stable" by India Ratings and Research Private Limited and AAA/Stable by ICRA Limited, the company said.
• Further, as per the terms of the issuances, Interest will be payable annually on December 13th each year till maturity. The Bonds are redeemable at par at the end of 10 years (redemption date being December 13, 2032), the Bank mentioned. Read More

Latest News and Updates

• Paytm's parent company, One97 Communications, announced on Tuesday that the board has approved an open market buyback of up to Rs 850 crore in shares.
• The shares will be repurchased at a maximum price of Rs 810 per share, according to the company’s press release. The maximum number of shares that will be bought back is 1,04,93,827, representing approximately 1.62% of the company's paid-up share capital.
• The company will use at least half of the funds set aside for share repurchases. The company announced on December 9 that the board of directors will consider a share buyback. Read more

Latest News and Updates

• Kfin Technologies to launch its initial public offer (IPO) to raise Rs 1500 crore. The issue will be opening from December 19 to December 21. Investors who want to invest in the IPO can bid for 40 shares in a lot at an issue price of Rs 347-366 apiece. The issue is expected to list on BSE and NSE on December 29.
• The issue is entirely an offer for sale by its promoter General Atlantic Singapore Fund. Hence, the company will not receive any proceeds from the issue.
• Kfin Technologies has reserved 75% of the issue for QIB, 15% of the offer is reserved for NII and rest 10% is reserved for the retail investors. The anchor book of the offer will open on December 16 for a day. Read more

Latest News and Updates

• Vedanta Group has entered into agreements with 30 Japanese technology firms to create an Indian semiconductor and glass display manufacturing ecosystem.
• The agreements were put in place during the Vedanta-Avanstrate Business Partners Summit 2022, which took place in Tokyo, Japan, last week. More than 200 participants from more than 100 international companies attended the summit.
• The firm is dedicated to turn India into a center for electronics production. Instead of only transferring technologies, it is concentrated on taking the initiative in building the ecosystem of the electronics sector. Read more

Latest News and Updates

• Gold exchange-traded funds (ETFs) saw a net outflow of Rs 195 crore in November after receiving investments in October, mainly due to investors taking profits amid a market surge.
• The segment recorded a net inflow of Rs 147 crore in October and Rs 330 crore in September, respectively. Data from the Association of Mutual Funds in India (Amfi) previously showed that there had been a net withdrawal of Rs 38 crore from gold ETFs in August. Read more

Latest News and Updates

• TVS Motor Company, a world-renowned manufacturer of two and three-wheelers, intends to launch Euro-5 two-wheelers in Turkey. Customers in Turkey have overwhelmingly embraced TVS Motor Company's products.
• TVS Jupiter and TVS Apache RTR 200 4V are the most popular TVS Motors products in Turkey, and they are well-known for their high quality. TVS Motor will expand its presence in Turkey with Euro5-compliant products such as the TVS Jupiter, TVS NTORQ Race Edition, TVS Raider, and TVS Apache RTR 200 4V, said the company in its media release. Read more

Latest News and Updates

• In early trade on Wednesday, the price of gold and silver remained steady, with ten grams of gold (24-carat) dealing for Rs 54,330. On the other hand, the price of silver is currently Rs 69,000 per kilogram.
• Ten grams of 22-carat gold is trading at Rs 49,800 today.
• Price of 10 grams of 22 and 24-carat gold:
• Mumbai, Kolkata, Hyderabad, Kerala, and Pune: 10 grams of 24-carat and 22-carat gold sold at Rs 54,330 and Rs 49,800 Read more

Latest News and Updates

• Indian markets in the fast lane during Wednesday's opening bell tracking positive global cues. IT stocks rallied the most, while banking, auto, metals and Oil & Gas stocks also contributed to the upside substantially.
• At around 9:37 AM, Sensex was performing at 62,784.89 higher by 251.59 points or 0.40%. Meanwhile, at present, the 50-scrip index Nifty was trading at 18,677.15 up by 69.15 points or 0.37%.
• In terms of sectoral indices, on BSE, the IT index climbed more than 1.2% or 350 points after global tech stocks rallied. Read more

Latest News and Updates

• GMR Hyderabad International Airport Limited (GHIAL), a subsidiary of GMR Airports Limited and a step-down subsidiary of GMR Airports Infrastructure Limited (formerly known as GMR Infrastructure Limited (GIL)), announced on December 13, 2022, that it had successfully raised funds through the issuance of 10 years Listed, Rated, Redeemable, Secured Non-Convertible Debentures (NCDs) in the amount of Rs 1,150 crore through a private placement. NCDs will be listed on the BSE Limited.
• The NCDs have been priced at an annual interest rate of 8.805%, payable quarterly for the first five years, after which the interest rate will be reset for the next five years. Eligible investors have subscribed to the issue (QIBs, registered under SEBI). Read more

Latest News and Updates

• The Indian Energy Exchange (IEX), India's leading and premier energy market platform, has achieved carbon neutrality. IEX is now India's first carbon-neutral power exchange, with carbon emissions offset through market-based tradable instruments.
• To reduce its carbon footprint, IEX voluntarily cancelled CERs (certified emissions reductions) from clean projects registered under the UNFCCC (United Nations Framework Convention on Climate Change) Clean Development Mechanism and used market-based tradable instruments. EKI Energy, India's pre-eminent global service provider in the fields of energy, carbon credit, and quality management, served as the sustainability partner in this climate action exercise by providing advisory and consultancy services.
• The commitment of IEX to climate mitigation will benefit corporations and industries seeking to be associated with an environmentally responsible organisation, allowing them to contribute to the critical challenge of climate change. Read more

Latest News and Updates

• NTPC has informed to the exchanges regarding declaration of COD of entire capacities of 150 MW & 90 MW Devikot Solar PV Projects.
• Consequent upon successful commissioning, entire capacities of 150 MW & 90 MW Devikot Solar PV Projects at Jaisalmer, Rajasthan, are declared on Commercial Operation of 13.12.2022, the company said.
• With this, standalone installed and commercial capacity of NTPC has become 58041.27 MW, while group installed and commercial capacity of NTPC has become 70656.27 MW, it further added. Read more

Latest News and Updates

• Dalmia Cement (Bharat) Limited (DCBL), wholly owned subsidiary of Dalmia Bharat Limited has entered into a binding Framework Agreement for the acquisition of Clinker, Cement and Power Plants from Jaiprakash Associates Limited.
• As per the filing, the company and its associate having total cement capacity of 9.4 MnT (along with Clinker capacity of 6.7MnT and Thermal Power plants of 280MW) at an Enterprise Value of Rs5,666 crore.
• These assets are situated in the states of Madhya Pradesh, Uttar Pradesh & Chhattisgarh. Read more

Latest News and Updates

• Saboo Sodium Chloro Ltd has announced that the Company has successfully foreclosed its Term Loan of Rs4.60 crore full and final taken from Tata Capital Financial Services Limited for the purpose of hospitality business.
• The company is targeting to become Net Debt free in the next 12 months, said Saboo Sodium in a regulatory filing on Tuesday. Read More

Latest News and Updates

• Adani Transmission has informed that the Company has incorporated its WOS in the name of Adani Cooling Solutions Limited (“ACSL”) on December 12, 2022.
• Further, the company has incorporated subsidiary with an initial authorised and paid up share capital of Rs.1,00,000/- each, for the purpose of carrying on District Cooling System business.
• ACSL will commence its business operations in due course, the company said. Read more

Latest News and Updates

• UltraTech Cement Ltd has informed to the exchanges regarding commissioning of cement capacity.
• In a filing on Tuesday, the Company announced the commissioning of 1.9 mtpa greenfield clinker backed grinding capacity at Pali Cement Works, Rajasthan.
• This forms part of the first phase of capacity expansion announced in December 2020, as informed earlier by the company. Read more

Latest News and Updates

• Piramal Enterprises Ltd has informed that Piramal Capital & Housing Finance Limited (‘PCHFL’), a wholly owned subsidiary of the Company has acquired 100% stake in PRL Agastya Private Limited consequent to which, PRL Agastya is a wholly owned subsidiary of PCHFL.
• According to the regulatory filing, PRL Agastya is engaged in the business of construction and development of real estate projects.
• Currently, PRL Agastya owns developed commercial building of ~7.44 lakh square feet of leasable area along with development potential of further up to ~70k square feet of leasable area. PRL Agastya had total revenue of Rs3,139.01 lakhs for the year ended March 31, 2022. Read more

Latest News and Updates

• During the April through November period of this fiscal year, urea production was 187.21 lakh tonnes, while imports to meet domestic demand were 46.14 lakh tonnes.
• Minister of State for Chemicals and Fertilizers Bhagwanth Khuba provided information on urea import, production, and consumption over the previous three years in a written reply to the Rajya Sabha.
• According to the data, urea output was 250.72 lakh tonnes in 2021–2022, up from 246.05 lakh tonnes in 2020–2021 and 244.58 lakh tonnes in 2019–2020. Read more

Latest News and Updates

• TARC Ltd, a real estate developer, has paid Rs66.36 crore for NCDs. Bain Capital, USA, invested Rs1,330 crore via NCDs in one of the biggest deals in North India earlier this year.
• The cash was provided for the real estate market's growth and development.
• TARC Limited has built a solid financial profile over the past year by generating excess cash through new sales bookings, the sale of non-core assets, and the collection of government debt. Read more

Latest News and Updates

• Indian equity markets may rise further today. Consumer Price Inflation in US slowed down to 7.1% in November from 7.7% in October.  Expectations have increased that US Federal Reserve will announce a lower interest rate hike tomorrow. 
• US markets ended in Green yesterday. Consumer Price Inflation in USA in November slowed down to 7.1% from 7.7% in October. Dow Jones increased by 0.30%. Nasdaq Composite Increased by 1.01%. NYSE Index increased by 0.61%. S&P 500 Index increased by 0.73%.
• Most Asian markets have opened in Green today. Japanese Nikkei is up by 0.72%. KOSPI Index is up by 0.78%. Taiwan Index is up by 1.03%. Shanghai Index is down by 0.025%. ASX Index is up by 0.42%. Read more

Latest News and Updates

• The initial public offer (IPO) of Landmark Cars subscribed 17% on day 1 of the offer. The company receive bids for 14,04,383 equity shares out of 80,41,805 shares offered.
• The maiden public offer of Landmark Cars, a premium and luxury car brands retailer was opened on December 13 and will close on December 15. The offer price band of the issue has been fixed at Rs 481 to Rs 506 per share.
• Employees’ quota has been fully booked with 1.2 times subscription, while retail investors have bought 17% shares of the portion set aside for them and the reserved portion of NII was subscribed 39%. The portion reserved for QIBs was not even mark off. Read More

Latest News and Updates

• The initial public offer (IPO) of Abans Holdings was subscribed 28% on day 2. The offer was open for subscription in December 12 and will conclude on December 15.
• As per BSE data, the IPO receive bids for 35,27,260 shares out of 1,28,00,000 equity shares offered. The portion for Qualified Institutional Buyers (QIBs) was fully subscribed, while the category for Retail Individual Investors (RIIs) received 23 per cent subscription and non-institutional investors 13 per cent. Read more

Latest News and Updates

• According to three government sources that talked to Reuters, four state-run power corporations in India are close to outbidding Adani Group and Reliance Industries to acquire a 1,980-megawatt stranded power plant from the bankrupt company Lanco Infratech for Rs3,020 crore($364.84 million).
• According to the sources, the state-owned businesses Power Finance Corp Ltd (PFC), REC Ltd, SJVN Ltd, and Damodar Valley Corp (DVC) want to buy Lanco Amarkantak's coal-fired power plant in Chhattisgarh, central India.
• Following the collapse of its Gurugram-based parent business Lanco Infratech, Lanco Amarkantak had financial issues. Insolvency proceedings were referred to Lanco Infratech by project lenders, led by PFC. Read more

Latest News and Updates

• Infrastructure finance company IL&FS said that by selling various assets, it was able to pay off up to Rs56,943 crore in debt by September 30, 2022, bringing the total number of businesses under its control down to 101 from 302.
• In an affidavit submitted to the National Company Law Appellate Tribunal (NCLAT), the indebted firm reported on the developments in the ongoing resolution procedure through September 30, 2022.
• According to Infrastructure Leasing & Financial Services, the "estimated debt resolution as of date" was Rs55,612 crore, and another Rs1,331 crore of debt was totally paid off by its profitable green firms (IL&FS). Read more

Latest News and Updates

• After the release of November inflation data indicating a hardly noticeable increase in U.S. consumer prices in November, U.S. Treasury yields fell substantially.
• Benchmark U.S. Treasury 10-year note rates, which move counter-cyclically to prices, fell by around 15 basis points immediately following the release of the data before rising to about 3.5%, which is still about 7 basis points below where they were before the announcement.
• Two-year rates dropped by over 15 bps before rising to 4.26%, which is still 9 bps below where they were before the release. Read more

Latest News and Updates

• Following clearance from the Reserve Bank of India, Yes Bank announced on Tuesday that the board has approved the allocation of shares to international private equity companies Carlyle Group and Advent International.
• According to a press release from the private sector lender, CA Basque Investments of the Carlyle Group will get 128 crore convertible warrants valued at Rs14.82 and 185 crore shares valued at Rs13.78 each. Each of these warrants can be converted into a single share.
• Verventa Holdings, a division of Advent International, would also get 185 crore shares at a price price of Rs13.78 per share and 128 crore convertible warrants at a price of Rs14.82 per warrant.
• The share issuance will equate to 5.9% of the private sector lender for each of the two PE firms. After the warrants are converted, their share will rise to about 10%. Read more

Latest News and Updates

• The initial public offer (IPO) of Sula Vineyards is closing for subscription today. The IPO was subscribed 59% on day 2 of the offer.
• The wine maker’s IPO received decent demand from retail investors as this portion was almost fully subscribed by 99%. However, the institutional investor interest has been muted since QIB received no subscription at all while that of non-institutional investors did not change much since the first day and subscribed by 45%.
• The company plans to raise Rs 960 crore through a complete offer for sale by promoters and shareholders. The company will not receive any funds from the IPO. The issue price band is fixed in the range of 340-357 per share. Read more

Latest News and Updates

• On Tuesday, state-owned Bank of Baroda (BoB) announced its intention to sell the majority of its shares in Nainital Bank.
• According to the lender's regulatory filing, the bank's board of directors has authorized the sale of its majority stake in Nainital Bank Limited (NBL) and the issuance of an advertisement inviting expressions of interest (EOI) through preliminary information memoranda (PIM) from interested parties (IPs).
• Currently, BoB owns 98.57% of NBL's total equity share capital.
• The PIM, which will be released on Wednesday in order to solicit EOI from bidders, contains information regarding the transaction's procedure, according to the statement. Read more

Latest News and Updates

• The Nifty futures contract on the Singapore Exchange rose 82.5 points, or 0.4%, to close at 18,783.5, indicating that the stock markets may open up higher on Wednesday. The following ten stocks may show price movement in today's market. To check more hot stocks, click at: https://www.indiainfoline.com/markets/hot-stocks
• Axis Bank:
• The private sector lender has received board clearance for the distribution of 12,000 non-convertible Tier II Bonds with a face value of Rs 1 crore each and Basel III compliant.
• HDFC:
• The mortgage lender reported that exchanges have given their clearance for the transfer of non-convertible debentures (NCDs) to HDFC Bank . Read more