Mortgage firm HDFC Ltd on Wednesday announced sale of a 10 per cent stake in its private equity arm HDFC Capital Advisors to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for about Rs 184 crore. ADIA is also the primary investor in the alternative investment funds managed by USD 3 billion-HDFC Capital. [...]
Mumbai, Apr 20 (PTI) Auto parts maker Sona Comstar on Wednesday said it has formed a strategic partnership with Canada-based Enedym Inc to produce magnet-less electric vehicles motors in India. Enedym develops next generation switched reluctance motors (SRMs), electric propulsion, and electrified powertrains. Under the agreement, the two parties will develop SRM drive platforms for [...]
New Delhi, Apr 19 (PTI) Markets regulator Sebi on Tuesday imposed penalties totalling Rs 24 crore on nine entities, including businessmen Malvinder Mohan Singh and Shivinder Mohan Singh, in connection with violations in the Fortis Healthcare matter. In addition, the regulator has barred Singh brothers and others from the capital markets. The case relates to Singh [...]
New Delhi, Apr 19 (PTI) Debt-ridden Future Enterprises Ltd (FEL) on Tuesday said it has defaulted on payment of Rs 29.33 crore as interest on non-convertible debentures (NCDs). The due date for payment was April 18, 2022, it said in a regulatory filing. This is the third default by the Kishore Biyani-led Future group firm [...]
New Delhi, Apr 19 (PTI) Telecom operator Jio on Tuesday waived entry fee and installation charges for new customers opting for postpaid Jiofiber connections to strengthen its position in the segment.The company has also introduced monthly plans for JioFiber postpaid customers and given an option to subscribers of low-value plans to pay Rs 100 for [...]
India's second largest IT services firm Infosys has said that the situation in Ukraine has not impacted the demand environment when it comes to European clients, and the company will see over the next few quarters on how things pan out. Infosys CEO Salil Parekh, during a post-earnings investor call last week, also said as [...]
Mumbai, Apr 19 (PTI) State-owned lender Punjab and Sind Bank on Tuesday declared Srei Infrastructure Finance and SREI Equipment Finance Ltd accounts as fraud.The lender said both the companies facing insolvency proceedings are non-performing assets (NPAs)."It is informed that the NPA accounts- SREI Infrastructure Finance Ltd (SIFL) with outstanding dues of Rs 510.16 crore and [...]
Mumbai, Apr 19 (PTI) Non-banking finance companies (NBFCs) will have to ensure while approving loans to the real estate sector that the borrowers have been granted permission from the government and other regulatory authorities for their projects, the Reserve Bank said on Tuesday. Besides, the regulator said NBFCs should not grant loans and advances totalling [...]
Chennai, Apr 19 (PTI): Global technology company Freudenberg Group on Tuesday has regrouped its battery and fuel cell business with effect from this month, a top official said on Tuesday. The company has made investments of Euros 7.1 million in the domestic market which include acquisition of a new plant in Sriperumbudur near here. "We [...]
New Delhi, Apr 19 (PTI) Healthcare and insurance startup Loop on Tuesday said it has raised USD 25 million (over Rs 190 crore) in a funding round co-led by General Catalyst and Elevation Capital (formerly Saif Partners).The series B funding round also saw participation from leading Silicon Valley investor Vinod Khosla and Khosla Ventures, Sierra [...]
