Repco Home Finance (RHF) said that it has raised Rs 100 crore by issuing secured, redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh on private placement basis. “The Board vide Resolution passed by circulation today i.e. June 15,2017, has inter alia approved the allotment of 1000 Secured, Redeemable, Non-Convertible, Non-Cumulative Debentures (SRNCD) of face value of
Piramal Enterprises said that it has received approval to raise up to Rs 600 crore through issue of Non-Convertible Debentures (NCD) on private placement basis. “The Committee approved issue of secured Non-Convertible Debentures (NCDs) aggregating up to Rs 400 crore with a Greenshoe option of Rs 200 crore, not exceeding total issue size of Rs 600 crore on private placement basis,” t
Ratnamani Metals & Tubes said that it has bagged two new orders worth Rs 328 crores for supply of HSAW and ERW pipes. The orders entail supply of HSAW pipes of Rs 116 crores and supply of ERW pipes of Rs.212 crores for Oil and Gas Pipe lines to be completed by Dec 2017/Jan 2018, the company said in a filing to the Bombay Stock Exchange. Meanwhile, shares of the company were trading at Rs 77
Mahindra & Mahindra Financial Services (Mahindra Finance), a non-banking financial company, said that it has raised funds by allotment of secured redeemable non-convertible debentures aggregating to Rs 200 crore.
“A Meeting of the duly authorised Committee was held today, i.e. on 14th June, 2017 from 5.30 p.m. to 6.00 p.m. approving the allotment of Secured Redeemable Non-Co
Three state-run oil marketing companies (OMCs) on Wednesday formalised plans to set up one of the world's largest refinery-cum-petrochemicals complex -- West Coast Refinery Project -- located in the Ratnagiri district of Maharashtra.
The three state-owned OMCs -- Indian Oil, Bharat Petroleum Corporation and Hindustan Petroleum Corporation -- entered into a joint venture agreement
Two- and three-wheeler major Bajaj Auto on Wednesday said that it has reduced the prices of its bikes by up to Rs 4,500 with immediate effect, in order to pass on the expected GST price advantage to its customers.
"The savings will range up to Rs 4,500 depending on the model and the state in which the motorcycle is purchased," the company said in a statement.
Taking higher haircuts is the way forward for resolving the bad loans of banks, UCO Bank MD and CEO R.K. Takkar said on Wednesday.
"We may have to take some haircuts. The banks will be prepared for that and moving forward. I think that's the way things have to move. Most of these (non-performing assets) accounts will be having 40 per cent provisions, so the only issue that co
NEW DELHI - India's antitrust watchdog on Wednesday imposed a fine of 870 million rupees ($13.6 million) on South Korean automaker Hyundai Motor Co's local unit, accusing the company of anti-competitive behaviour.
The Competition Commission of India in its order alleged that Hyundai Motor India Limited (HMIL) contravened competitive practices by imposing
MUMBAI/NEW DELHI - State-run Bharat Petroleum Corp aims to expand the capacity of its Bina refinery in central India to about 310,000 barrels per day (bpd) in the next four to five years from the current 120,000 bpd, its head of refineries said on Wednesday.
India aims to expand its refining capacity by 35 percent to 6.2 million bpd to meet the country's risi
Indian shares ended higher after a volatile session on Wednesday with Reliance Industries Ltd gaining on strong April subscriber additions, although broader sentiment was muted ahead of the U.S. Federal Reserve meeting.
The benchmark BSE Sensex closed 0.17 percent higher at 31,155.91.
The broader NSE Nifty ended up 0.12 percent at 9,618.15.
Reliance Industries shar
The Reserve Bank of India (RBI) has identified 12 of the country's biggest loan defaulters and said creditors must pursue bankruptcy proceedings against them, as it begins to cut the $150 billion in stressed debt hobbling Asia's No.3 economy.
The move comes about a month after the government gave the Reserve Bank of India (RBI) power to direct lenders to initiate the insolvenc
NEW DELHI - India's exports of engineering goods to Doha have suffered after Arab powers led by Saudi Arabia severed ties with Qatar accusing it of supporting terrorism, the Engineering Export Promotion Council said in a statement on Wednesday.
"Inputs from our engineering exporters indicate that shipping lines operating between India and Doha are keepin
N.R. Agarwal Industries said that it will temporarily shut down its Unit - II at Valsad, Gujarat from 20th June for technical upgradation. The operations of the Company's Unit - II located at Plot No.1, Phase I, GIDC, Vapi –396 195, Dist. Valsad, Gujarat shall be temporarily shut down for a period of 20 days with effect from 20.06.2017 for the purpose of technological upgradation. Mea
ICICI Bank increased its authorised capital by Rs 775 crore to Rs 2,500 crore. "The authorised capital of the company shall be Rs 2,500 crore divided in to 1000 crore equity shares of Rs 2 each, Rs 150,00,000 shares of Rs 100 each and 350 shares of Rs 100,00,000 crore each with rights privileges and conditions attached thereto...," the company said in a regulatory filing.
JSW Energy said that it has appointed Prashant Jain as its Joint Managing Director and Chief Executive Officer from June 16, 2017. "Jain will be based in Mumbai and report to the Chairman and Managing Director Sajjan Jindal," JSW Energy said in a filing to the Bombay Stock Exchange. Commenting on the appointment, JSW Group Chairman Sajjan Jindal said," He brings with him vast exp
NEW DELHI - India's wholesale prices rose 2.17 percent year-on-year in May, government data showed on Wednesday.
The rise compares with a 3.11 percent annual gain forecast by economists in a Reuters poll. In April, prices rose a provisional 3.85 percent.
Wholesale food inflation was 0.15 percent in May, lower than 2.90 percent a month ago, the data
NEW DELHI - HPCL-Mittal Energy Ltd (HMEL), part-owned by steel tycoon L N Mittal, has delayed the start-up of its Bathinda refinery in Punjab state by a fortnight to the end of this month, an industry source said.
The refiner shut the refinery on April 30 for about 45 days to raise capacity by about 28 percent to 230,000 bpd. State-refiner Hindustan Petrol
The Reserve Bank of India has initiated "prompt corrective action" (PCA) for state-run Central Bank of India over high bad loans and negative return on assets, the lender said in a stock exchange filing on Wednesday.
It did not give details of the corrective action but said, "We believe corrective measures arising out of the PCA will help in improving overall perf
Terming negative media coverage and actions of activist shareholders as risk factors, global softare major Infosys on Tuesday informed the market regulators that such activities could adversely affect its stock prices and execution of strategies.
"Negative media coverage and public scrutiny may affect the prices of our equity shares and ADSs (American Depository Shares), while ac
The Indian equity markets on Wednesday traded on a flat note during the mid-afternoon session as investors were cautious ahead of the outcome of two-day US Federal Reserve's rate-setting meet later in the evening.
According to market observers, investors remained cautious on the prospect of a US rate hike as it can potentially lead foreign portfolio investors (FPI) from emerging m
MUMBAI - Indian bank shares edged higher on Wednesday after the central bank said it had identified 12 of the largest loan defaulters and will order lenders to start bankruptcy proceedings against them, without disclosing any account names.
Top lender State Bank of India was trading up 0.2 percent by 0356 GMT, having risen as much as 0.7 percent, while Pun
MUMBAI- The Reserve Bank of India (RBI) said on Tuesday it has identified 12 of the largest loan defaulters and will order lenders to start bankruptcy proceedings against them to start unclogging the $150 billion in bad debt plaguing Asia's third-largest economy.
The move comes about a month after the government gave the RBI greater power to deal with bad lo
Indian shares ended flat on Tuesday, erasing earlier gains as markets ran out of steam even as lower-than-expected inflation data raised hopes of a central bank rate cut in August.
The BSE Sensex rose 0.03 percent to 31,103.49.
The broader NSE Nifty fell 0.1 percent to 9,606.90.
The Nifty had gained for five consecutive weeks in a record-setting run, leaving
Coal India will continue to offer domestic coal to non-power sectors in lieu of 50 per cent of the import component in the ongoing fiscal, reported PTI. The development assumes significance as the government is working to eliminate coal imports.
The world's largest coal miner "offer of domestic coal 'as is where is basis' to non-power FSA (fuel supply agreement) consu
Drug maker Suven Life Sciences Ltd on Tuesday said it has secured product patent for its New Chemical Entities (NCEs) from two countries i.e. Australia and USA for the treatment of disorders associated with Neurodegenerative diseases. “Suven Life Sciences announces that the grant of one (1) product patent from Australia and one (1) product patent from USA corresponding to the New Chemical