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Tech Mahindra to pay Rs 490 crore to acquire 65% stake in MadPow

Tech Mahindra is planning to pay about Rs 490 crore to acquire 65 per cent stake in US-based strategic design consultancy firm MadPow. MadPow acquisition is expected to help the company to boost its capabilities in customer experience and digital transformation, user experience design, behaviour change design, content strategy, mobile app and web development, data science and analytics, among others. ... Read More »

IOL Chemicals & Pharmaceuticals prepays term loan of Rs 14 crore

IOL Chemicals & Pharmaceuticals has made the pre-payment of term loan of Rs 14 crore due to banks in addition to regular repayment schedule. Thus the company made the pre-payment of term loan of aggregate amount of Rs 98.18 crore till date to reduce the debt of the company. IOL Chemicals & Pharmaceuticals is a leading organic chemicals manufacturer and ... Read More »

Lactose India gets nod to avail loan up to Rs 50 crore

Lactose (India) has received an approval to avail term loan/working capital facility up to Rs 50 crore from Banks/Financial Institution. The Board of Directors of the company at its meeting held on August 5, 2019, approved the same. Lactose (India) is a leader and pioneer in the manufacturing of Lactose Monohydrate IP/BP/USP Grades not only in India but in the ... Read More »

RBI slaps penalty of Rs 2 crore on Bank of Maharashtra

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2 crore on Bank of Maharashtra for non-compliance of directions / circulars issued by RBI on ‘Opening of Current Accounts by Banks’, ‘Discounting / Rediscounting of Bills by Banks’, ‘Reserve Bank of India (Frauds classification and reporting by commercial Banks and select FIs) directions 2016’ in the ... Read More »

RBI imposes penalty of Rs 1 crore on Oriental Bank of Commerce

Reserve Bank of India (RBI) has imposed an aggregate penalty of Rs 1 crore on Oriental Bank of Commerce for violating RBI Master Direction dated July 01, 2016 on ‘Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) Directions 2016’ and non-compliance of RBI circular dated May 15, 2004 on ‘Opening of Current Accounts by ... Read More »

DCW inches up on raising Rs 7.69 crore via NCDs

DCW is currently trading at Rs. 15.15, up by 0.05 points or 0.33% from its previous closing of Rs. 15.10 on the BSE. The scrip opened at Rs. 14.55 and has touched a high and low of Rs. 15.15 and Rs. 14.45 respectively. So far 20492 shares were traded on the counter. The BSE group ‘B’ stock of face value ... Read More »

NCC gains on bagging two orders worth Rs 503.80 crore in July

NCC is currently trading at Rs. 71.25, up by 0.55 points or 0.77% from its previous closing of Rs. 71.70 on the BSE. The scrip opened at Rs. 73.75 and has touched a high and low of Rs. 73.75 and Rs. 71.00 respectively. So far 68315 shares were traded on the counter. The BSE group ‘A’ stock of face value ... Read More »

RBI imposes penalty of Rs 2 crore on Allahabad Bank

Reserve Bank of India (RBI) has imposed a penalty of Rs 2 crore on Allahabad Bank for non-compliance of directions / circulars issued by RBI on ‘Code of Conduct for Opening and Operating Current Accounts’, ‘Discounting / Rediscounting of Bills by Banks’, ‘Reserve Bank of India (Frauds classification and reporting by commercial Banks and select FIs) directions 2016’ in the ... Read More »

PSP Projects secures Rs 86.20 crore work orders from various clients

PSP Projects has been awarded with new work orders worth Rs 86.20 crore for various institutional projects from various clients, which inter alia includes a major project of Rs 77.35 crore for Designing, Engineering, Procurement and Construction of 100 bed Hospital Project at Sitapur Village, Ahmedabad in the state of Gujarat on lump sum Turnkey basis from Maruti Suzuki Foundation ... Read More »

Vedanta’s Induced Impact estimated at Rs 3.74 Lakh Crore, or 2.2 percent of India’s GDP: Institute for Competitiveness

New Delhi : Businesses have a substantial impact on people’s lives, whether as employees, suppliers, investors or consumers. They play a critical role in shaping people’s wellbeing, generating employment opportunities and enhancing the economic prosperity of regions. This happens through the choice of products and services that they offer to the society, their investment decisions, the contribution to public finances, ... Read More »

GST collection grows 5.8% to Rs 1.02 lakh crore in July

GST collection in July surpassed the Rs one-lakh-crore mark. As per data released by the government on Thursday, the total mop-up under Goods and Services Tax was reported to be Rs 1.02 lakh crore in July 2019. GST collection in July 2019 showed a year-on-year growth of 5.8 per cent over the revenue of Rs 96,483 crore reported in July ... Read More »

Ahmedabad based MAS Financial Services reported PAT of Rs. 40.73 crore in Q1FY20

Ahmedabad : The Board of Directors of MAS Financial Services Limited in their meeting held today took on record the unaudited Financial Results of the company for the Quarterended 30 June 2019. The robust financial performance even during this turbulent quarters extended from September 2018, is the testimony of the strong fundamentals of the company; which is being followed over ... Read More »

Axis Bank profit nearly doubles to Rs. 1,370 Crore in June Quarter

Axis Bank’s net profit jumped 95 per cent in April-June period to Rs. 1,370.08 crore from Rs. 701 crore in the same quarter last year, the bank said in a stock exchange filing after market hours on Tuesday. Its net interest income, the difference between interest earned and interest expended, grew 13 per cent to Rs. 5,843.65 crore compared with Rs. 5,166.80 crore during the same quarter last year, the ... Read More »

DHFL defaults on Rs 25 crore interest to NCD holders

Dewan Housing Finance Corporation (DHFL) has again defaulted on an interest repayment worth Rs 25.06 crore on non-convertible debentures. The gross principal amount on which the default has taken place is Rs 274 crore. This is the fourth default by the crippled company since early June. DHFL is one of India’s premier housing finance companies and is among the oldest ... Read More »

PFC gets nod to raise Rs 70,000 crore in one year

Power Finance Corporation (PFC) has received approval from its board for raising Rs 70,000 crore by issuance of bonds, debentures, notes and debt securities from domestic and international markets on a private placement basis. The proposal would be placed for shareholders’ approval in an annual general meeting of the company on August 27. Once approved by the shareholders, the company ... Read More »

BJP enrolls more than 11 crore members through its membership drive: JP Nadda

Nadda also lashed out at other political parties, alleging they “lacked” the will to serve the nation and were only “hankering after” chairs.  The former Union health minister said the work done by the Modi government in the past 50 days would prove to be a milestone in making India a USD 5-trillion economy.   WhatsApp Facebook Twitter Download Udaipur ... Read More »

BJP enrolls more than 11 crore members through its membership drive: JP Nadda

Nadda also lashed out at other political parties, alleging they “lacked” the will to serve the nation and were only “hankering after” chairs.  The former Union health minister said the work done by the Modi government in the past 50 days would prove to be a milestone in making India a USD 5-trillion economy.   WhatsApp Facebook Twitter Download Udaipur ... Read More »

BJP enrolls more than 11 crore members through its membership drive: JP Nadda

Nadda also lashed out at other political parties, alleging they “lacked” the will to serve the nation and were only “hankering after” chairs.  The former Union health minister said the work done by the Modi government in the past 50 days would prove to be a milestone in making India a USD 5-trillion economy.   WhatsApp Facebook Twitter Download Udaipur ... Read More »

BJP enrolls more than 11 crore members through its membership drive: JP Nadda

Nadda also lashed out at other political parties, alleging they “lacked” the will to serve the nation and were only “hankering after” chairs.  The former Union health minister said the work done by the Modi government in the past 50 days would prove to be a milestone in making India a USD 5-trillion economy.   WhatsApp Facebook Twitter Download Udaipur ... Read More »

BJP enrolls more than 11 crore members through its membership drive: JP Nadda

Nadda also lashed out at other political parties, alleging they “lacked” the will to serve the nation and were only “hankering after” chairs.  The former Union health minister said the work done by the Modi government in the past 50 days would prove to be a milestone in making India a USD 5-trillion economy.   WhatsApp Facebook Twitter Download Udaipur ... Read More »

BJP enrolls more than 11 crore members through its membership drive: JP Nadda

Nadda also lashed out at other political parties, alleging they “lacked” the will to serve the nation and were only “hankering after” chairs.  The former Union health minister said the work done by the Modi government in the past 50 days would prove to be a milestone in making India a USD 5-trillion economy.   WhatsApp Facebook Twitter Download Udaipur ... Read More »

BJP enrolls more than 11 crore members through its membership drive: JP Nadda

Nadda also lashed out at other political parties, alleging they “lacked” the will to serve the nation and were only “hankering after” chairs.  The former Union health minister said the work done by the Modi government in the past 50 days would prove to be a milestone in making India a USD 5-trillion economy.   WhatsApp Facebook Twitter Download Udaipur ... Read More »

BJP enrolls more than 11 crore members through its membership drive: JP Nadda

Nadda also lashed out at other political parties, alleging they “lacked” the will to serve the nation and were only “hankering after” chairs.  The former Union health minister said the work done by the Modi government in the past 50 days would prove to be a milestone in making India a USD 5-trillion economy.   WhatsApp Facebook Twitter Download Udaipur ... Read More »

ED attaches Mehul Choksi’s properties worth over Rs 24 crore in PNB Fraud Case

The attachment includes three commercial properties in Dubai, valuables, one Mercedes and Fixed Deposit Account controlled by Choksi.  In a statement, the ED said, it had initiated investigation in money laundering case against Mehul Choksi and others in February last year under Prevention of Money Laundering Act on the basis of FIR registered by CBI. Choksi and others have committed ... Read More »

Linc Pen & Plastics achieves sales turnover of Rs 100.66 crore in Q1FY20

Linc Pen & Plastics has achieved a sales turnover of Rs. 100.66 crore during the Q1 of FY20 as compared to Rs. 83.18 crore during the corresponding quarter in FY19, a growth of 21%. While the company’s domestic turnover grew by 29% backed by large corporate orders, exports declined by 11%, mainly on account of delivery re-scheduling of a few ... Read More »

HDFC planning to raise funds up to Rs 3000 crore via bonds

Housing Development Finance Corporation (HDFC) is planning to raise up to Rs 3,000 crore by issuing bonds on a private placement basis to shore up its long-term capital needs. The ‘HDFC Series V-006 11th July, 2014’ secured redeemable non-convertible debentures will have an issue size of Rs 2,000 crore with an option to retain oversubscription up to Rs 3,000 crore. ... Read More »

Reliance Industries’ telecom arm reports Rs 9,839 crore AGR for March quarter

Reliance Industries’ (RIL) telecom arm — Reliance Jio Infocomm (Jio) has continued its lead over other telecom service providers in adjusted gross revenue (AGR) for the March 2019 quarter at about Rs 9,839 crore. The Telecom Regulatory Authority of India’s (Trai) latest data showed that Jio’s AGR rose 3.76 per cent sequentially to Rs 9,838.9 crore at the end of ... Read More »

Greaves Cotton acquires stake worth Rs 22.5 crore in Ampere Vehicles

Greaves Cotton has acquired around 15.04 lakh equity shares, by way of investment in subsidiary of the Company i.e. Ampere Vehicles, India through primary and secondary purchase for a total consideration of Rs 22.5 crore. Consequent to the acquisition of aforesaid additional stake, the company’s holding in Ampere increased from 67.34% to 72.11%. Greaves Cotton, a multi-product, multi-locational company is ... Read More »

HDFC rises on planning to raise funds up to Rs 3000 crore via bonds

Mumbai : Housing Development Finance Corporation is currently trading at Rs. 2236.00, up by 8.60 points or 0.39% from its previous closing of Rs. 2227.40 on the BSE. The scrip opened at Rs. 2237.50 and has touched a high and low of Rs. 2243.75 and Rs. 2232.60 respectively. So far 3692 shares were traded on the counter. The BSE group ... Read More »

Govt to invest 50 lakh crore rupees in railways by 2030

The Minister said that the rail infrastructure in the country increased by mere 30 per cent in the last 65 years due to the lack of adequate investment, while freight and passenger traffic increased by 1500 per cent.  Railway Minister was speaking to reporters on the sidelines of a function organised to launch membership drive for the BJP in Panaji ... Read More »