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HUDCO achieves level of loan sanctions of Rs 17993.36 crore

Housing and Urban Development Corporation (HUDCO) has achieved the level of Loan Sanctions of Rs 17993.36 crore and Loan Releases of Rs 19487.00 crore (Release against current year sanction is Rs 10706.08 crore and release against previous year sanction is Rs 8780.92 crore), as on February 28, 2019, for the financial year 2018-19. HUDCO finances social housing and residential real ... Read More »

SEBI imposes fine of over Rs 10 crore on Sybly Industries

Securities and Exchange Board of India (SEBI) has imposed a fine of over Rs 10 crore on Sybly Industries in a matter related to manipulation in the issuance of global depository receipts (GDR). The penalty follows a probe by the regulator regarding the firm’s allotment of 1.51 million GDR amounting to $6.99 million on the Luxembourg Stock Exchange in June ... Read More »

DLF to invest Rs 750 crore to construct new project in Gurugram

DLF is planning to invest around Rs 750 crore for construction of a new commercial project in Gurugram, as the company seeks to encash rising demand of office and retail space from customers as well as institutional investors. The company has decided to build a new commercial project with 2.5 million sq. ft. area in Gurugram. The company will sell ... Read More »

Dhruv Consultancy Services gets LoA worth Rs 2.29 crore from Jharkhand Govt

Dhruv Consultancy Services has received the Letter of Award (LoA) for the Supervision Consultancy Services for the constructions of Peripherial Roads of New Vidhansabha in the State of Jharkhand (Length – 4.841 km) from the office of the Member (Technical) State Highways Authority of Jharkhand, Government of Jharkhand. The contract amount will be around Rs 2.29 crore for the said ... Read More »

Rajesh Exports soars on bagging order worth Rs 1079 crore

Rajesh Exports is currently trading at Rs. 621.00, up by 7.90 points or 1.29% from its previous closing of Rs. 613.10 on the BSE. The scrip opened at Rs. 618.00 and has touched a high and low of Rs. 627.70 and Rs. 617.00 respectively. So far 33021 shares were traded on the counter. The BSE group ‘A’ stock of face value ... Read More »

TVS Motor invests Rs 30 crore in TVS Credit Services

TVS Motor Company has invested a sum of Rs 30 crore in the equity capital of TVS Credit Services, a subsidiary company (TVS CS). Consequent to the above investment, the company’s direct holding in TVS CS increased to 10.29%. TVS Motor Company is a leading two and three-wheeler manufacturer, and is the flagship company of the TVS Group. WhatsAppFacebookTwitter Read More »

KEC International wins new orders worth Rs 1,323 crore

KEC International has secured new orders of Rs 1,323 crore across its various businesses. The Transmission & Distribution business of the company has secured turnkey orders of Rs 287 crore across India, UAE and the Americas, while the Railway business has secured orders for composite and overhead electrification works aggregating to Rs 644 crore in India. The Civil business has ... Read More »

Balkrishna Industries working on Rs 2,000 crore expansion plan in India

Balkrishna Industries is working on a Rs 2,000 crore expansion plan in India to meet the increasing demand of its products globally. The company is planning to set up a modern carbon black manufacturing facility at its plant in Bhuj, Gujarat. Balkrishna Industries operates mainly in the business segment of tires. WhatsAppFacebookTwitter Read More »

Power Mech Projects bags order worth Rs 1238.75 crore

Power Mech Projects by way of JV has been awarded contract by Water Resources Department, Government of Andhra Pradesh for HNSS Project – Supply of water from Chitravathi Balancing Reservoir to HNSS Main Canal, Punganur Branch Canal and Kuppam Branch Canal in Chittoor District through Yogivemana Resevoir Project in Ananthapuram District, Andhra Pradesh (Hydro, Electro – Mechanical works etc.) for ... Read More »

Dilip Buildcon secures order worth Rs 480.06 crore from NHAI

Dilip Buildcon has received letter of acceptance (LoA) for the EPC project worth Rs 480.06 crore from National Highway Authority of India (NHAI). The project is for 4 lane of Saoner-Dhapewada-Kalmeshwar-Gondkhairi, NH-547E, from km 4.700 to km 33.575 in the state of Maharashtra on EPC Mode. The project is to be completed within a period of 24 months. Dilip Buildcon’s ... Read More »

Delta Corp’s arm to subscribe 1 crore stake of Jalesh Cruises Mauritius

Delta Corp’s wholly owned subsidiary — Gaussian Software has entered into an agreement to subscribe to 1 crore equity shares of Jalesh Cruises Mauritius (JCML) for a total consideration amount of $10 million. The acquisition is proposed to be completed in one or more tranches and the company is expected to hold over 25% stake in JCML. The transactions contemplated ... Read More »

PNB sanctions loans to 1,600 MSMEs worth Rs 689 crore

Punjab National Bank (PNB) has sanctioned loans worth Rs 689 crore to over 1,600 Micro, Small and Medium Enterprises (MSMEs) through the psbloansin59minutes.com portal. The Bank has sanctioned loans as part of its effort to promote such industries. Under the Mudra Yojana, the bank has offered loan to over 2.69 lakh small entrepreneurs this fiscal (till February 14, 2019). MSMEs ... Read More »

RIL’s arm inks agreement to acquire stake in Grab for Rs 106 crore

Reliance Industries’ (RIL) wholly-owned subsidiary — Reliance Industrial Investments and Holdings (RIIHL) has entered into an agreement for acquisition of equity shares of Grab A Grub Services for a cash consideration not exceeding Rs 106 crore. RIIHL will further invest an amount of up to Rs 40 crore and is likely to be completed by March 2021. The total investment ... Read More »

Kolte Patil Developers invests Rs 70 crore in Korte-patil I-Ven Townships

Kolte Patil Developers has made investment of Rs 70 crore in its subsidiary — Korte-patil I-Ven Townships (Pune) (KPIT), which is the SPV for its township project, Life Republic, Hinjewadi Pune. The investment is in the form of convertible preference shares and debentures and has acquired these securities from its project SPV partner India Advantage Fund – III and India ... Read More »

Indian Hume Pipe gets three LoI worth Rs 187.06 crore from VIDC

Indian Hume Pipe Company has received three Letters of Intent (LoI) for the works aggregating to Rs 187.06 crore from Vidarbha Irrigation Development Corporation (VIDC), Nagpur in the state of Maharashtra. The first LoI is for construction of MS Feeder Pipeline from Kochi Barrage to Pench and allied Works of Kanhan River Projects (Kochi Barrage), Nagpur. The project is to ... Read More »

RBI imposes penalty of Rs 3 crore on Union Bank of India

Reserve Bank of India (RBI) has imposed a penalty of Rs 3 crore on Union Bank of India for delay in adherence to its directives on ‘Time bound implementation and strengthening of SWIFT related controls’ contained in the RBI circular of February 20, 2018. The Bank has taken necessary measures to implement and strengthen SWIFT-related operational controls and to ensure ... Read More »

RPP Infra Projects bags new order worth Rs 105.70 crore in Tamil Nadu

RPP Infra Projects has secured a LoA (Letter of Acceptance) worth Rs 105.70 crore from the Tamil Nadu Slum Clearance Board for construction of 972 tenements at Moorthingar Street in Chennai. This project falls under the prestigious Housing for All (PMAY) scheme of the Government of India. The company’s order book at the end of Q3FY19 stood at over Rs ... Read More »

HAL gets nod for enhancement of Working Capital limit to Rs 7300 crore

Hindustan Aeronautics (HAL) has received approval from the Competent Authority for enhancement of Working Capital limit from Rs 6050 crore to Rs 7300 crore as sanctioned by SBI and other Consortium Banks. HAL is Bengaluru based Defence Public Sector Undertakings (DPSU) company engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of a wide range of products including, ... Read More »

HUDCO achieves level of loan sanctions worth Rs 15,581.24 crore

Housing and Urban Development Corporation (HUDCO) has achieved the level of loan sanctions of Rs 15,581.24 crore and loan releases of Rs 15,534.37 crore (Release against previous year sanction is Rs 7,942.06 and release against current year sanction is Rs 7,592.31), as on January 31, 2019, for FY19. HUDCO finances social housing and residential real estate through primarily lending to ... Read More »

Around two crore devotees take holy dip at Kumbh Mela

The festival of Basant Panchmi is being celebrated in Prayagraj .  It is celebrated as Saraswati Puja on Panchmi of Shukla Paksh in the month of Magh.  In one of the largest religious gatherings in the world, more than two crore pilgrims and holy men took a dip at the Sangam, the confluence of the Ganga and Yamuna rivers and the ... Read More »

Oriental Bank of Commerce gets nod to raise Rs 1186.00 crore

Oriental Bank of Commerce has received approval from its board to raise capital for an amount upto Rs 1186.00 crore through issuance of equity shares to the Government of India (GoI) on preferential basis. Oriental Bank of Commerce is a commercial bank. The Bank operates in four segments: treasury operations, corporate/wholesale banking, retail banking and other banking business operations. Read More »

Fomento Resorts receives Rs 15 crore from IndusInd Bank

Fomento Resorts & Hotels has received an amount of Rs 15 crore from Induslnd Bank of the sanctioned term loan for Rs 85 crore as per the loan agreements/credit arrangement executed on September 14, 2018 between the company and lnduslnd Bank. Fomento Resorts & Hotels is engaged in the hospitality industry. Read More »

Over 5 crore Pilgrims take holy dip in Sangam at Prayagraj

All roads leading to Kumbh Nagri, the 32,000-hectares township on the banks of the river, teemed with people making their way to the Sangam for a ritual dip. And that is not without a reason. Monday is ‘Mauni Amavasya’, considered as one of the most auspicious day for taking bath at the Sangam during Kumbh Mela. ‘Mauni Amavsya’ also marks the second ‘Shahi ... Read More »

Ratnamani Metals bags order worth Rs 200 crore

Ratnamani Metals & Tubes has received new domestic order aggregating to approximately Rs 200 crore for supply of Coated CS pipes for Oil & Gas sector to be completed by October, 2019. Ratnamani Metals & Tubes is a multi-location, multi-product company, in India, manufacturing Tubes & Pipes in Stainless Steel/Exotic material and alsoCarbon Steel Pipes, in wide size ranges, for ... Read More »

Cabinet approves capital infusion of 6,000 crore rupees in EXIM bank

The Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi approved the trebling of the capacity of the Numligarh Oil Refinery in Assam. The refinery’s capacity will be hiked from 3 million metric tonnes per year to 9 with a cost of 22,594 crore rupees. The capacity expansion will generate jobs apart from bridging petroleum products deficit in ... Read More »

Den Networks reports consolidated net loss of Rs 31.21 crore in Q3

Den Networks has reported results for third quarter ended December 31, 2018. The company has reported a net loss of Rs 21.52 crore for the quarter under review as against net profit Rs 0.24 crore for the same quarter in the previous year. Total income of the company decreased by 4.80% at Rs 265.34 crore for Q3FY19 as compared Rs ... Read More »

Texmaco Rail bags order worth Rs 110 crore

Texmaco Rail & Engineering has received an award of order valuing approximately Rs 110 crore for design, manufacture, supply, installation, testing and commissioning of Automatic Fare Collection System (AFC) from Mumbai Metro Rail Corporation. Further, the company has received LOI for 12 rakes of BLC type wagons valuing Rs 152 crore. Texmaco Rail & Engineering is one of India’s leading ... Read More »

At Rs 4,200 crore, this year’s Kumbh Mela costliest ever

Lucknow: The Uttar Pradesh government has allocated Rs 4,200 crore for the Kumbh Mela being held in the ‘sangam’ city of Allahabad, which is over thrice the budget of the Maha Kumbh in 2013, making the mega pilgrimage perhaps the costliest ever. “The UP government has allocated Rs 4,200 crore for 2019 Kumbh Mela. The previous state government had spent ... Read More »

NTPC to raise Rs 4,000 crore via debentures

NTPC is going to raise Rs 4,000 crore through private placement of secured non-convertible bonds in the nature of debentures at a coupon of 8.30% pa with a door to door maturity of 10 years on January 15, 2019. The proceeds will be utilized to finance capital expenditure / refinancing the debt requirement in on-going projects and other general corporate ... Read More »

Zydus Wellness gets approval to raise Rs 1,500 crore via NCDs

Zydus Wellness has received approval to raise funds of aggregate nominal value up to Rs 1,500 crore through issuance of rated, secured, listed, redeemable, Non-Convertible Debentures (NCDs) each having a face value of Rs 10 lakh on private placement basis. The Board of Directors of the Company at its meeting held on January 11, 2019 has approved the same. Zydus ... Read More »

Arvind SmartSpaces planning to invest Rs 250 crore in 2019

Arvind SmartSpaces is planning to invest Rs 250 crore this year for acquiring and developing new projects across the country. The company is also exploring and evaluating other markets such as Hyderabad for potential opportunities. The company is launching residential project in Pune next month and the company’s first commercial project is in Bengaluru in the next quarter. Arvind SmartSpaces ... Read More »

Bank of Baroda raises funds worth Rs 285 crore via bonds

Bank of Baroda has raised funds worth Rs 285 crore through bonds on private placement basis. The company has issued 8.60% BASEL III Compliant Tier II Bonds – Series XX of Face Value of Rs 10 lakh each (Unsecured, Redeemable). Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium ... Read More »

HFCL bags orders for Rs 502.73 crore for supply of optical fibre cables

Himachal Futuristic Communications (HFCL) has received the Purchase Orders (POs) worth Rs 502.73 crore approximately from Larsen & Toubro and a Consortium led by ITI for creating OFC Network Infrastructure under BharatNet Phase-II Project in Andhra Pradesh and Maharashtra respectively. The orders are for supply of optical fibre cables as per customer specifications. HFCL is one of India’s largest telecom ... Read More »

Indian Hume Pipe gets LoA worth Rs 198.77 crore from APDWSC

Indian Hume Pipe Company has received Letter of Acceptance (LoA) for the work of Rs 198.77 crore (excluding GST) from Andhra Pradesh Drinking Water Supply Corporation (APDWSC) for the work of Construction of Drinking Water Supply Projects in Vizianagaram District, Andhra Pradesh. The project is to be completed within 24 months. Indian Hume Pipe Company is engaged in the construction ... Read More »

Goa Carbon reports Rs 4.91 crore net loss in Q3

Goa Carbon has reported results for third quarter ended December 31, 2018. The company has reported net loss of Rs 4.91 crore for the quarter under review against net profit of Rs 22.50 crore for the same quarter in the previous year. Total income of the company also decreased by 49.75% at Rs 95.99 crore for Q3FY19 as compared Rs ... Read More »

HUDCO achieves level of loan sanctions of Rs 12,115.68 crore

Housing and Urban Development Corporation (HUDCO) has achieved the level of Loan Sanctions of Rs 12,115.68 crore and Loan Releases of Rs 12,850.29 crore (Release against current year sanction is Rs 5107.33 crore and release against previous year sanction is Rs 7742.96 crore), as on December 31, 2018, for the financial year 2018-19. HUDCO finances social housing and residential real ... Read More »

Bajaj Finance raises Rs 1,495 crore via NCDs

Bajaj Finance has raised Rs 1,495 crore through allotment of 14950 Secured Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 10 lakh each. The Debenture Allotment Committee of the company at its meeting held on January 09, 2019 allotted the same. The tenor of the instrument is 2556 days. Bajaj Finance, the lending and investment arm of Bajaj Finserv ... Read More »

Coal India’s arm incurs losses of Rs 60 crore due to strike

Coal India’s subsidiary — Mahanadi Coalfields (MCL) incurred losses of Rs 60 crore on the first day of the two-day strike. Coal production of MCL, which is currently going at an average of 4.65 lakh tonne a day, is likely to plunge further from its negative growth of 0.87 per cent to around 1.31 per cent during current fiscal due ... Read More »

Tera Software bags order worth Rs 324.89 crore from APSFL

Tera Software has bagged a work order worth of Rs 324.89 crore from Andhra Pradesh State FiberNet (APSFL) and the company has signed an agreement with APSFL to act as Project Implementation Agency for BharatNet Phase-II works to establish Optical Fibre Grid Network (Supply, installation and Commissioning) in 3394 Gram Panchayats in the state of Andhra Pradesh to be commissioned ... Read More »

Poddar Housing gets nod to raise Rs 50 crore via NCDs

Poddar Housing and Development has received approval to raise funds aggregating up to Rs 50 crore through issuance of the 50,000 secured, Unrated, redeemable, unlisted, Non-Convertible Debentures (NCDs) of a face value of Rs 10,000 each on private placement basis. The Board of Directors of the Company at its meeting held on January 08, 2019 approved the Private Placement Offer ... Read More »

Finance ministry approves NMDC’s Rs 1,000 crore share buyback plan

NMDC has received an approval from the finance ministry for the share buyback plan worth Rs 1,000 crore. The timeline for the launch of the offer will be decided by NMDC’s board. NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry ... Read More »

Bharat Dynamics inks contract worth Rs 760 crore with Indian Army

Bharat Dynamics (BDL) has signed contract worth of Rs 760 crore approximately with the Indian Army for production and supply of Anti-Tank Guided Missiles (ATGM) and Launchers. The Missiles and Launchers will be manufactured under continued technical collaboration with Russia at the Bhanur Unit of BDL in Telangana State. Bharat Dynamics is engaged in manufacturing of Surface to Air missiles ... Read More »

Atul invests Rs 10 crore by acquiring stake in Atul Bioscience

Atul has invested Rs 10 crore by acquiring 45,45,455 additional equity shares of Atul Bioscience (ABL), a wholly-owned subsidiary of the company. The object of investment in ABL is to meet funding requirements for its various capital expenditure programs. Atul operates through six business divisions, namely, Agrochemicals, Aromatics, Bulk Chemicals & Intermediates, Colors, Pharmaceuticals & Intermediates and Polymers. Read More »

Hind Rectifiers bags orders worth Rs 88.05 crore

Hind Rectifiers has bagged orders of Rs 88.05 crore in December 2018. This includes substantial orders from Diesel Locomotive Works worth 61 crore. With these order wins, the company has a strong all time high pending order book of Rs 292.92 crore. Hind Rectifiers is engaged in developing, designing, manufacturing and marketing Power Semiconductors, Power Electronic Equipments and Railway Transportation ... Read More »

RCom deposits partial payment of Rs 131 crore to Ericsson

Reliance Communications (RCOM) has been given 4 weeks’ time by the Supreme Court to file its response to the contempt petition filed by Ericsson. Thereafter, Ericsson has been given one week’s time to file its rejoinder. The matter will be taken up for hearing thereafter. RCOM has deposited a partial payment of Rs 131 crore to Ericsson from the operational ... Read More »