SEBI on Thursday disposed of adjudication proceedings against state-owned LIC with respect to alleged violations of mutual fund norms. The case pertained to the insurer's shareholding in IDBI Mutual Fund. In a 12-page order, SEBI said the alleged violation on part of LIC is to be viewed in the context of the efforts taken by [...]
On September 13, RR Kabel Ltd. will open for public subscriptions for its inaugural share offering. The business has also chosen to reduce the size of its fresh issuance to Rs 180 crore. On September 15, the TPG Capital-backed wires and cables maker will complete its Initial Public Offering (IPO), which also includes an Offer [...]
On Thursday Battery maker Exide Industries Ltd said that in its wholly-owned arm Exide Energy Solutions Ltd it has invested over Rs. 100 crore, which is into manufacturing of advanced chemistry battery cells. It made the investment by way of subscription in the equity share capital of Exide Energy Solutions Ltd (EESL) on a rights [...]
On Thursday Hinduja group flagship Ashok Leyland said that it's aiming to be among the top 10 global commercial vehicle manufacturers in the near future. The heavy commercial vehicle maker is looking at exploring newer markets. According to the company chairman Dheeraj. For the company's 75th anniversary celebrations, top Ashok Leyland representatives were present. "You [...]
On day two of bidding on Thursday, The initial public offering (IPO) of multi-speciality hospital chain Jupiter Life Line Hospitals Limited was subscribed 3.30 times. According to NSE data, The IPO received bids for 2,80,31,300 shares against 84,97,169 shares on offer. 6.63 times was subscribed in the portion for non-institutional investors, the quota for Retail [...]
The domestic supply of the sweetener is not anticipated to be "adverse" in the 2023–24 season, according to the sugar cooperative NFCSF, which on Thursday dispelled rumours of a potential scarcity in the nation as a result of El Nino. Sugar season runs from October to September. The crushing process for 2023–24 has not yet [...]
On Thursday Speciality chemicals manufacturer Anupam Rasayan India said it has appointed Gopal Agrawal as the Chief Executive Officer (CEO) effective from September 11. Agrawal, a chartered accountant, previously held the positions of managing director and head of Edelweiss' investment banking division. "With his extensive experience and a proven track record in the financial and [...]
As part of a financial restructuring initiative, the state-owned Oil and Natural Gas Corporation (ONGC) will invest around Rs 15,000 crore in OPaL, pushing the gas utility GAIL out of the petrochemical company. ONGC currently holds a 49.36 per cent stake in ONGC Petro-additions Ltd (OPaL), which operates a mega petrochemical plant at Dahej in [...]
At the Global Stainless-Steel Expo 2023, more than 500 stainless steel industry stakeholders from India and overseas are anticipated to discuss the potential in the sector. The three-day Global Stainless-Steel Expo 2023 (GSSE 2023) will take place in Mumbai the following week, according to a statement released on Wednesday by the event's organizer, Virgo Communications [...]
On Thursday credit rating agency ICRA said that domestic air passenger traffic is likely to grow 8-13 per cent in the current fiscal and the aviation industry is also expected to trim the losses further. Icra, in its mid-year update on Indian aviation, also maintained a "stable outlook" on the industry, amidst the continued recovery [...]
