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BUSINESS

Trident Texofab gets nod to increase borrowing limit

Trident Texofab has received an approval to increase the borrowing limit under 180(1) (A) of the Companies Act, 2013 from Rs 35 crore to Rs 100 crore subject to approval of the members at ensuing AGM. The Board of Directors of the company in their meeting held on May 30, ... Read More »

Federal Bank aims growth of 20% in FY20

Federal Bank is aiming a growth of 20% in the financial year 2019-20. The bank did an overall business of Rs 2.43 lakh crore in the last financial year. Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches ... Read More »

SJVN reports 3-fold jump in Q4 net profit

SJVN has reported results for fourth quarter and year ended March 31, 2019. The company has reported over 3-fold jump in its net profit at Rs 458.92 crore for the quarter under review as compared to Rs 132.92 crore for the same quarter in the previous year. Total income of ... Read More »

NMDC reports 32.36 MT production of iron ore in FY19

NMDC has produced 32.36 million tonnes (MT) of iron ore during FY19, as against production of 35.58 MT during previous year. The company has sold 32.36 MT of iron ore during FY19 against sales of 36.08 MT during FY18. NMDC is a state-controlled mineral producer of the Government of India. ... Read More »

Tata Power’s arm to develop 100 MW Solar Project in Gujarat

Tata Power Company’s wholly owned subsidiary–Tata Power Renewable Energy (TPREL) has received a Letter of Award (LoA) from Gujarat Urja Vikas Nigam (GUVNL) on May 28, 2019 to develop a 100 MW solar project in Raghanesda Solar Park of Gujarat. The energy will be supplied to GUVNL under a Power ... Read More »

Karnataka Bank opens 840th branch in Andhra Pradesh

Karnataka Bank has opened 840th Branch at Nidadavolu, in state of Andhra Pradesh on May 29, 2019. Earlier, the bank had opened 839th at Nadugodu – Kateel in Karnataka. Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance ... Read More »

West Coast Paper Mills to acquire stake in International Paper APPM

West Coast Paper Mills (WCPM) has entered into a share-purchase agreement to acquire about 51-60% stake in NYSE-listed International Paper’s (IP) Indian unit, International Paper APPM. The stake will be acquired from existing promoters -International Paper Investments (Luxembourg), SARL Luxembourg and IP International Holdings Inc, US. The deal is expected ... Read More »

Goa Carbon resumes operations at Goa Unit

Goa Carbon has resumed operations its Goa Plant from May 25, 2018. The company’s plant is located at St. Jose de Areal, Salcete in state of Goa. Goa Carbon is into the business of manufacturing and marketing Calcined Petroleum Coke. Goa Carbon is firmly established as a leading Indian petcoke ... Read More »

SBI to mop up Rs 5,000 crore via bonds during FY20

State Bank of India (SBI) will raise up to Rs 5,000 crore by issuing Basel III-compliant bonds. The executive committee of central board at its meeting held on May 29, 2019 accorded approval to raise Basel III-compliant tier-II bonds up to Rs 5,000 crore in USD/INR to be issued to ... Read More »

Adani Power turns black in Q4

Adani Power has reported results for fourth quarter and year ended March 31, 2019. The company has reported a net loss of Rs 62.82 crore for the quarter under review as compared to net loss of Rs 556.15 crore for the same quarter in the previous year. However, total income ... Read More »

Tata Steel wins ‘Dun & Bradstreet Corporate Award 2019’

Tata Steel has been bestowed the prestigious Dun & Bradstreet Corporate Award 2019 for the fifth consecutive year in the category of ‘Corporate Social Responsibility (CSR)’. The Dun & Bradstreet Corporate Awards has been commemorating outstanding performers among Indian Corporates since 2006. It has till date honoured the Top 500 ... Read More »

Arihant Superstructures delivers 723 units of homes in FY19

Arihant Superstructures has delivered 723 units of homes equivalent to 635,389 sq. ft. in FY19. The company has reported 706 units of total sales equivalent to 632,527 sq. ft. for year end march 2019. Arihant Superstructures is a real estate company with dominant presence in the affordable housing segment in ... Read More »

PNB aims to raise Rs 10,000 crore in FY20

Punjab National Bank (PNB) is planning to raise Rs 10,000 crore in 2019-20 from sale of non-core assets, rights issue and expected write-backs from two large accounts undergoing insolvency proceedings. The Bank is expecting a write-back of Rs 4,000 crore from Essar Steel and Bhushan Power and Steel which are ... Read More »

United Spirits reports 40% fall in Q4 net profit

United Spirits has reported results for fourth quarter and year ended March 31, 2019. The company has reported a fall of 40.19% in its net profit at Rs 126.20 crore for the quarter under review as compared to Rs 211.00 crore for the same quarter in the previous year. However, ... Read More »