Sebi on Tuesday levied fines totalling Rs 20 lakh on PVR Murthy in the manipulation of global depository receipts (GDR) of Birla Cotsyn (India) Ltd and Zenith Birla (India) Ltd (now known as Zenith Steel Pipes & Industries). In two separate orders, the regulator slapped a fine of Rs 10 lakh each on PVR Murthy. [...]
Vedanta Aluminium on Tuesday said it has raised USD 250 million (around Rs 2,045 crore) through sustainability-linked loans from international banks to finance its capital expenditure and reduce carbon footprint. Sustainability-linked loans are debt where a portion of the interest rate is linked the borrower's ability to meet sustainability targets. The loans were granted on [...]
The Rs 20,000 crore share sale of Adani group's flagship firm was fully subscribed on Tuesday after non-retail investors bid in big volumes, according to stock exchange data. As many as 4.62 crore shares were sought as against an offer of 4.55 crore. Non-institutional investors put in bids for over three times the 96.16 lakh [...]
Asia's oldest stock exchange BSE's platform for small and medium enterprises (SMEs) on Tuesday announced the listing of Dharni Capital Services Ltd, taking the tally of such listed companies on the bourse to 414. Dharni Capital Services Ltd becomes the 414th company to get listed on the BSE SME platform, the exchange said in a [...]
Vedanta group firm Hindustan Zinc Ltd on Tuesday said it has earmarked a USD 1 billion investment for converting its diesel-run 900-odd mining vehicles into battery-operated ones over the next five years. Hindustan Zinc is steadily switching to electric vehicles for its underground mine operations. HZL together with the Finnish technology company Normet Group Oy, [...]
IT hardware and mobile accessories firm Balaji Solutions and Enviro Infra Engineers, which provides solutions for waste water treatment, have received capital markets regulator Sebi's go-ahead to raise funds through initial public offerings (IPOs). The two companies, which filed their preliminary IPO papers with Sebi during August and September 2022, obtained the observation letters on [...]
Godrej Properties Ltd on Tuesday said it has bought an 89-acre land parcel at Khalapur in Maharashtra to develop a housing project as part of its expansion plan to grow business. In a regulatory filing, Godrej Properties informed that it has entered into an agreement for outright purchase of a land parcel in Khalapur - [...]
Billionaire Gautam Adani's embattled group clutched on to a USD 400-million investment by Abu Dhabi's International Holding Co. in its flagship firm's share sale to restore confidence in the conglomerate that saw nearly USD 70-billion rout in value after a tiny New York short seller came out with a damning report. Adani, 60, who was [...]
Punjab National Bank (PNB) which has about Rs 7,000 crore exposure in Adani Group entities on Monday said it is keeping a close watch on situation developing following the damning disclosures by a US short seller. The state-owned bank has total exposure of about Rs 7,000 crore. Out of that Rs 2,500 crore is related [...]
Storage battery maker and distributor Sunlit Power has collaborated with Lucas TVS under which it will supply 50,000 electric vehicle motors and controllers manufactured by TVS group company to various industries, a release said on Monday. It will include motors with 1kw-15kw capacity for various applications including those for two-wheelers, high-speed passenger autos, and pick-up [...]
