Government-owned steel companies have cleared Rs 7,673.95 crore dues of various MSMEs during FY23, 39.3 per cent higher than Rs 5,511.07 crore paid during the preceding fiscal, the steel ministry said. "The status of pending payments to MSMEs by CPSEs (Central Public Sector Enterprises) of the ministry is being monitored on a weekly basis to [...]
Bay Capital Investment Advisors, an India-focused investment manager, is expecting to garner Rs 5,000 crore in AUM from its maiden equity, long-only, category III open-ended AIF, over the next five years. The fund would seek to generate long-term capital appreciation by investing in a diversified portfolio of up to 30 businesses across consumption, digitization, financialization, [...]
RattanIndia Enterprises on Tuesday launched a wholly-owned subsidiary Neobrands, marking its entry into the fast-growing apparel fashion business. Neobrands will be a house of brands across multiple fashion categories, including everyday fashion, denim, athleisure and performance wear categories, a statement from RattanIndia Enterprises said. In the first phase, all these brands will be digital native [...]
Rating agency Crisil on Tuesday reported a nearly 20 per cent on-year rise in net profit to Rs 145.8 crore in the first quarter ending March 2023. The company said consolidated income for the quarter rose by 19.1 per cent to Rs 732.2 crore compared to the year-ago period. Amish Mehta, the managing director & [...]
Debt-ridden Pakistan has shared its plan with the IMF to secure an additional USD 3 billion to meet the mandatory financing assurances laid by the global lender for it to release the country's stalled bailout plan, it emerged on Wednesday. The Washington-based global lender had asked Pakistan to arrange USD 6 billion in external financing [...]
The board of the country's biggest lender State Bank of India (SBI) on Tuesday said it proposes to raise USD 2 billion (about Rs 16,000 crore) from bonds to fund its global operations. The board of the bank on Tuesday approved the proposal to raise fund in "single or multiple tranches up to USD 2 [...]
General insurer ICICI Lombard on Tuesday said its net income jumped almost 40 per cent to Rs 437 crore for the March quarter, boosted by the base effect in the year-ago period when it took a heavy hit from the pandemic-related claims. Premium income just inched up 6.7 per cent in the reporting quarter to [...]
The board of state-owned Bank of India (BoI) on Tuesday approved plans to raise Rs 6,500 crore from various means, including share sale, to fund business growth in 2023-24. The proposal in this regard was cleared by the board in a meeting held on Tuesday, BoI said in a regulatory filing. The board considered and [...]
French cosmetic major L'Oreal on Tuesday announced a strategic investment in DSG Consumer Partners IV, the fourth fund of Singapore-based venture capital DSGCP, without disclosing the amount. DSG Consumer is focused on growing consumer brand startups across Southeast Asia and India. "Through this investment, L'Oreal will support early-stage entrepreneurs building the next generation of insurgent [...]
HP India on Tuesday said the PC market is recovering now, and higher demand is expected to come in the next six months compared to the traction the company received in the last six months. HP India senior director for personal systems Vickram Bedi said the base of personal computers has increased compared to the [...]
