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Author Archives: chundawat

Muthoot Finance acquires Muthoot Money

Muthoot Finance has acquired Muthoot Money (MMPL), post approval of the Reserve Bank of India. The company purchased 5,625 number of equity shares of face value Rs 1,000 each at a price of Rs 17,685 per share aggregating to Rs 9,94,78,125 from existing shareholders; and subscribed 56,545 number of fresh ... Read More »

Shriram Transport Finance raises Rs 300 crore via bonds

Shriram Transport Finance Company has raised funds worth Rs 300 crore through issuance of bonds. The issue comprises three tenor bonds of three, five and ten years, offering a coupon in the range 9.12% to 9.70%. Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and ... Read More »

GMR Infrastructure’s arm enters into definitive share purchase agreement

GMR Infrastructure’s indirect subsidiary — GMR Hyderabad International Airport (GHIAL) has entered into a definitive Share Purchase Agreement for acquiring the entire equity and preference shares held by Menzies Aviation Cargo (Hyderabad), Mauritius in Hyderabad Menzies Air Cargo (HMACPL) at a total consideration of Rs 59.75 crore. Post-acquisition of the ... Read More »

Mahindra Logistics acquires 5.06% stake in Lords Freight

Mahindra Logistics has completed the purchase of 119,610 (5.06%) equity shares of Lords Freight (India) (Lords), Subsidiary company from its existing Shareholder, resulting an increase in the company’s stake in Lords from 68.69% (pre-acquisition) to 73.75% (post-acquisition). Mahindra Logistics provides logistics solutions, warehousing facilities, freight forwarding and supply chain management ... Read More »

Djokovic beats Sousa in straight sets at Paris Masters

Serving for the match at 5-1, Djokovic handed a towel to a man in the crowd who seemed unwell and who wiped his forehead with it. “It seemed he was sweating and he seemed dizzy, so he just needed help,” Djokovic said. “I just gave him the towel.” Djokovic revealed ... Read More »

Rashtriya Ekta Diwas being celebrated today

Rashtriya Ekta Diwas, the birthday of Sardar Vallabhbhai Patel, is being celebrated today. Several events are being held by various Ministries, Public Sector Undertakings and organisations across the country. People all over the country took the pledge to protect the unity and integrity of India and participate in the Run ... Read More »

Scientists develop tool to check fake news on social media

Developed by researchers at the University of Michigan in the US, the tool uses a Platform Health Metric called the Iffy Quotient, which draws data from two external entities: NewsWhip and Media Bias/Fact Checker.  NewsWhip, a social media engagement tracking firm, collects URLs on hundreds of thousands of sites every ... Read More »

SSWL bags new export order for steel wheels

Steel Strips Wheels (SSWL) has bagged new Exports orders for Steel wheels for EU Caravan market. The order comprises of over 300,000 Wheels, mix of 13” and 14”, to be shipped from its Chennai plant over next 6 months with a total value close to Euro 2 million. Further, additional ... Read More »

Bhushan Steel turns black in Q2

Bhushan Steel has reported results for second quarter ended September 30, 2018. The company has reported net profit at Rs 60.71 crore for the quarter under review as against net loss of Rs 467.37 crore for the same quarter in the previous year. Total income of the company increased by ... Read More »

ITC to enter into Paneer, Milkshakes segments

ITC has decided to enhance its dairy portfolio by entering the Paneer and Milkshakes segments within two months. The company has launched milk and curd for the Kolkata market. Earlier, the company had earlier forayed into the dairy segment with the launch of milk and ghee in select markets. ITC ... Read More »

Prime Focus to sell 100% stake of Gener8 India Media Services

Prime Focus has received an approval to sell 100% equity shares by the company of its wholly owned subsidiary, Gener8 India Media Services, to DNEG Creative Services, a subsidiary of the company. The Board of Directors of the company at their meeting held on October 30, 2018, approved the same. ... Read More »

Tata Motors starts production of SUV Harrier

Tata Motors has started the production of its upcoming SUV Harrier that will launch in the market early next year. The first unit of Harrier was rolled out from the company’s manufacturing unit at Pune. The new assembly line at the Pune unit has been built in a record time ... Read More »

Kirloskar Oil Engines’ arm gets registered as NBFC

Kirloskar Oil Engines’ wholly owned subsidiary — Kirloskar Capital has received a Certificate of Registration (CoR) dated October 29, 2018 under Section 45 (IA) of Reserve Bank of India Act, 1934 to carry on the business of a Non-Banking Financial Institution (without accepting public deposits) from Reserve Bank of India ... Read More »