Distributing sweets and exchanging greetings Prime Minister Narendra Modi said that Diwali is the festival of lights; it spreads the light of goodness and dispels fear. Jawans, through their commitment and discipline spread the sense of security and fearlessness among an indebted nation. Prime Minister said that their devotion to duty in the remote icy heights, … Read more
Indian Bank has successfully raised funds worth Rs 290 crore under Basel III Compliant Tier 2 Bonds on October 30, 2018 with a coupon rate of 8.90% p.a., tenor at 10 years and call option after completion of 5 years, on private placement basis. The credit rating agency, CRISIL has assigned ‘AAA/Stable’ rating and CARE … Read more
NTPC has reportedly entered into a contract with the Indian Railways for transportation of coal from mines to all its plants through fiscal 2020. The contract is for Rs 10,000 crore inclusive of GST. The company will pay the Indian Railways a freight advance towards payment of transport of coal for FY18-19 and FY19-20. First … Read more
Steel Authority of India (SAIL) is preparing for supply of wheels for newly introduced Linke Hoffman Busche (LHB) coaches for the Indian railways. The company is the only domestic producer of forged wheels which are used for high speed trains and locomotives. The company’s Durgapur Steel Plant (DSP) is collective to ensure the timely delivery … Read more
South Indian Bank has reported results for second quarter ended September 30, 2018. The Bank has reported over 16 fold jump in its net profit at Rs 70.13 crore for the quarter under review as compared to Rs 4.32 crore for the same quarter in the previous year. Total income of the Bank marginally increased … Read more
Sterlite Technologies has been awarded the confirmed Purchase Order for designing, building and managing the Indian Navy’s digital network. This Rs 3,500-crore project is a multi-year contract, which will include design, execution, operations and maintenance of the Navy Digital Network. The company had in February 2018 announced the award of the Advanced Purchase Order (APO) … Read more
South Indian Bank has decided to augment the capital by issue of Basel III compliant Tier II Bonds not exceeding Rs 500 crore in one or more tranches with or without green shoe option, on such terms and conditions as it may deem fit, subject to the approval of regulatory authorities, if any. The Board … Read more
