CG Power and Industrial Solutions Limited is in plans to raise Rs 100 crore through issue of securities on a preferential basis in accordance with applicable laws. The Company has scheduled a Board Meeting on September 2, Wednesday to consider the further fund raising activities.
Mumbai based Wockhardt Ltd. today reported a net profit of Rs 760.06 crore for the period ended June 30, 2020 as against net profit of Rs 48.29 crore for the previous quarter, period ended March 31, 2020. The company had posted a loss of Rs 44.98 crore in Q1 FY20, resulting in 1700% rise YoY. The company who owns the chain of Wockhardt Hospitals has reported total income of Rs 606.22 crore during the Q1 FY21 period.
India’s ease of business ranking by World Bank (WB) would not affect the commercial environment in the country. On Thursday, the WB said it has paused publication of the Doing Business (DB) report due in October and is undertaking a review of the data changes in the last five reports after discovering a number of irregularities.
AirAsia India has entered into partnership with Avis India to offer its flyers discounted car rental services to and from the airport. Through this partnership, AirAsia India passengers can use the services of the car rental company in 14 cities including Delhi, Bengaluru, Mumbai, Hyderabad, Chennai, Kolkata.
The Supreme Court on Friday dismissed a petition seeking postponement of the Bihar Assembly Elections due to COVID-19 pandemic and floods happening in the state. The Bench of Justice Ashok Bhushan, R Subhash Reddy and M.R. Shah declined to entertain the petition, terming it as "premature" and "misconceived".
Mumbai based IDFC Ltd. on Thursday reported net loss of Rs 26.46 crore for the period ended June 30, 2020 as against net loss of Rs 242.92 crore for the previous quarter, period ended March 31, 2020. The company posted a total income of Rs 103.99 crore during the Q1 FY21 period ended June 30, 2020 as compared to Rs.53.54 crores during the period ended March 31, 2020. The income has fallen YoY as compared to Rs 133.04 crore during the Q1 FY20 period ended June 30, 2019.
FMCG company Zydus Wellness informed that its board has approved plans to raise up to Rs 1,099.98 crore. It will be raised through a combination of issuance of preference shares to its promoter Zydus Family Trust and other funding options.
ICICI Bank on Wednesday announced partnership with Shivaami Cloud Services to launch Cloud based products bundled with transaction banking API solutions in India. It is the first time for the banking industry to witness such a collaboration.
Kalyan Jewellers is on track to issue Rs 1,750 crore initial public offering, the largest IPO in the metal segment sector. The company has filed the offer document with market regulator, Securities and Exchange Board of India (SEBI).
Future Retail paid $14 million or Rs 105 crore in interest dues to its coupon bond holders on Monday for $500 million secured notes, said a person aware of the matter.
The Axis Bank-Max Life Insurance JV deal has moved closer with both firms agreeing to amend clauses in their transaction contract that had flagged concerns of the insurance regulator, IRDAI.
NCLT Mumbai observed: The RCOM and RITL committed default in repayment in and around January 2017. The accounts were retrospectively declared as Non-Performing Account (NPA) with effect from 26.08.2016 i.e. even before loan agreements had been entered into. The order dated August 20, 2020.
Nippon Paint Holdings Co. Ltd on Friday said it has signed a deal worth 1.285 trillion yen ($12.18 billion) with Singapore’s Wuthelam Group. As part of the deal, Nippon Paint will sell 1.185 trillion yen ($11.2 billion) worth of shares to Wuthelam, whose stake in the Osaka based Japanese company will rise to around 60% from current 39%.
NBFC Muthoot Finance reported a net profit of Rs 841 crore for the June quarter, a 59% rise YoY. The company had reported net profit of ₹530 crore in the year ago period. Total revenue from operations increased 28% to ₹2,385 crore in Q1 FY21 as against ₹1,857 crore in June Q1 FY20 period.
Life Insurance Corp. of India (LIC), the largest insurance company in the country, raised its stake in publicly listed companies on the NSE to 3.97% in the April - June period.
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