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BUSINESS

RBI imposes penalty on Yes Bank for violating PPI norms

The Reserve Bank of India (RBI) has imposed a penalty on prepaid payment instrument (PPI) issuer Yes Bank for non-compliance with regulatory norms. A penalty of Rs 11.25 lakh has been imposed on the Bank. Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, ... Read More »

Gujarat Pipavav Port suspends entire Port Operations at Pipavav Port

Gujarat Pipavav Port has suspended entire Port Operations at Pipavav Port, based on the directions of the District Administration as well as Gujarat Maritime Board (the port regulatory authority). The suspension of port operations is being done in view of an advisory of India Metrological Department about a severe Cyclonic ... Read More »

Yes Bank offloads 2% stake in Fortis Healthcare

Yes Bank has reduced its stake in Fortis Healthcare by around 2 per cent by selling over 1.51 crore shares of the company in various tranches. The Bank had 8.76 per cent stake in Fortis Healthcare before these transactions. The shares were sold in open market between December 20, 2018 ... Read More »

DHFL makes full payment of pending interest on NCDs

Dewan Housing Finance Corporation (DHFL) has made full payment towards interest payable on Secured Redeemable Non-convertible debentures (NCDs) issued by way of public issue within the cure period of seven working days. The Company has made interest payments in lieu of Rs 961 crore as committed to its debenture holders. ... Read More »

Tata Power’s arm launches residential solar rooftop campaign

Tata Power Company’s wholly owned subsidiary — Tata Power Solar has launched its pan India residential solar rooftop campaign. The campaign has been flagged-off from the holy-city Tirupati to inspire the residents across the country to implement residential solar rooftop solution. This campaign intent to cover 100 cities across India ... Read More »

KDDL’s arm shifts Pune store to new location

KDDL’s subsidiary — Ethos has shifted the operations of its store at Unit no. 08, First Floor, Pavilion Mall in Pune to Unit no. 32-B, Ground Floor, Pavilion Mall. The area of the above store is 1694 sq. ft. The aforesaid is a multi – brand store. The total number ... Read More »

Gujarat Pipavav Port surges on the BSE

Gujarat Pipavav Port is currently trading at Rs. 84.20, up by 1.65 points or 2.00% from its previous closing of Rs. 82.55 on the BSE. The scrip opened at Rs. 83.90 and has touched a high and low of Rs. 84.25 and Rs. 83.90 respectively. So far 106 shares were ... Read More »

Mahindra wins Gold Award in South Africa

Mahindra has won the Gold Award in South Africa for fairing on various indicators, including level of satisfaction among its network of dealers and the manner of allocation of vehicles to them. Mahindra, which has been in South Africa for the past 16 years, received the award on June 7 ... Read More »

PTC India Financial Services inks MoU with SREI Infrastructure Finance

PTC India Financial Services has signed a Memorandum of Understanding (MoU) with SREI Infrastructure Finance. This partnership aims to facilitate financing, syndication, and advisory services in the fast growing Energy Value Chain across industries in India. PTC India Financial Services is an Indian non-banking financial institution. The company makes principal ... Read More »

SBI Mutual Fund offloads 31 lakh shares of KOEL

SBI Mutual Fund has sold 31 lakh shares of Kirloskar Oil Engines (KOEL) worth over Rs 59 crore through open market transactions. The matual fund house has sold these shares on June 7, 2019. Kirloskar Oil Engines manufactures diesel engines. The engines are preferred by various services sectors like banks, ... Read More »

Ambuja Cements’ CSR arm planning to spend Rs 125 crore in FY20

Ambuja Cements’ CSR arm — Ambuja Cement Foundation is planning to spend Rs 125 crore, including Rs 40 crore in Rajasthan, towards corporate social responsibility in the current fiscal. Revival of traditional water resources, rainwater harvesting and groundwater recharge, healthcare support, vocational training and skill development were some of the ... Read More »