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Vedanta submits expression of interest for Jaypee Infratech

Vedanta has submitted a preliminary expression of interest (EoI) for Jaypee Infratech currently undergoing the Insolvency Resolution Proceedings (IRP). The EoI invited by insolvency resolution professional (IRP) has received response from various entities, including corporates and asset reconstruction companies. The National Company Law Tribunal (NCLT) has admitted the application by ... Read More »

Singapore’s IMC Group to list two of its Indonesia units on IDX

IMC Group is planning to list two of its Indonesian operations – Pelita Samudera Shipping (PSS Logistics) and Nusa Indah Kalimantan Plantations – on the regional bourse within the next two years. PSS Logistics has already started the process for its initial public offering (IPO) and aims to list on ... Read More »

Sensex drops 57 pts in early trade on weak global cues

Mumbai : The benchmark BSE Sensex dropped by 57 points to 33,194.35 in early trade today after banking, telecom, auto, oil & gas, and pharma stocks declined following weak global cues. The 30-share index declined by 56.58 points or 0.17 per cent to 33,194.35. The gauge had gained 32.12 points in ... Read More »

Royal Orchid Hotels partners with UK’s Bespoke Hotels

Royal Orchid Hotels has reached an agreement to represent Bespoke Hotels in India. With this strategic partnership, Bespoke and Royal Orchid shall work together to enhance each other’s revenues and brand presence in their respective markets. Royal Orchid now has the ability to offer its guests hundreds of hotel options ... Read More »

Vedanta reports 43% rise in Q2 consolidated net profit

Vedanta has reported results for second quarter ended September 30, 2017. The company has reported 31.20% rise in its net profit at Rs 471 crore for the quarter under review as compared to Rs 359 crore for the same quarter in the previous year. Total income of the company increased ... Read More »

Andhra Bank raises Rs 500 crore on private placement basis

Andhra Bank has raised Rs 500 crore by issuing Basel III-compliant bonds on a private placement basis. The bank has issued 9.2% unsecured fully paid-up non-convertible Basel III compliant additional tier I capital perpetual debt bonds in the nature of debentures for an amount of Rs 500 crore on private ... Read More »

HDFC Bank inaugurates nine SmartUp Zones in Bengaluru

HDFC Bank has inaugurated nine SmartUp Zones in Bengaluru. A SmartUp Zone is an exclusive area inside the branch dedicated to start-ups. In the first phase, SmartUp Zones have been launched in nine branches in the city, catering to all the start-ups located in Karnataka. The branches with SmartUp Zones ... Read More »

Bajaj Auto reports 7% rise in October sales

Bajaj Auto has registered a jump of 7% in total sales to 382,464 units in October 2017 against 356,168 units in October 2016. The company’s total exports out of the above stood at 135,254 units, a gain of 15% as compared to 117,387 units sold in the corresponding month last ... Read More »

Bajaj Finance raises Rs 485 crore through private placement

Bajaj Finance has raised funds aggregating to Rs 485 crore through private placement. The Debenture Allotment Committee of the company at its meeting held on October 31, 2017, has allotted 4850 Secured redeemable non-convertibles debentures of face value of Rs 10 lakh each aggregating to Rs 485 crore. Bajaj Finance, ... Read More »

Strides Shasun to merge wholly owned subsidiaries with itself

Strides Shasun has received an approval for the Scheme of Amalgamation for the merger of its wholly owned subsidiaries (WOSs) viz., Arrow Remedies, Fagris Medica and Strides Chemicals, with itself. The Board of Directors of the company at their meeting held on October 31, 2017, considered and approved the same. ... Read More »

Maruti Suzuki reports 9.5% growth in October sales

Maruti Suzuki India has sold a total of 1,46,446 units in October 2017, growing 9.5% over the same period of last fiscal. This includes 1,36,000 units in the domestic market and 10,446 units of exports. The company had sold a total of 1,33,793 units in October 2016. The company reported ... Read More »