NCLT has directed initiating insolvency proceedings against Bengaluru-based real estate firm Mantri Developers admitting the plea filed by Indiabulls Housing Finance Ltd. A two-member bench has also suspended the board of Mantri Developers and appointed Ahsan Ahmad as the interim resolution professional for the company. Indiabulls Housing Finance Ltd (IHFL) had moved the Bengaluru bench [...]
Citigroup CEO Jane Fraser along with top management officials visited the company's Citi Solutions Centre here and held discussions about the landscape of Global Capability Centres (GCC) in the country, the company said on Friday. On her maiden visit to Chennai and to any Citi Solutions Centre in the country, Fraser during her brief visit [...]
State-owned Coal India Ltd (CIL) on Friday said it has crossed the annual coal production target of 700 million tonne (MT) in 2022-23. As of Thursday, March 30, the company produced 700.4 MT of coal, up 13 per cent over 619.8 MT on the same date a year ago, the miner said in a statement. [...]
Larsen & Toubro Ltd (L&T) stock started its trading session today at Rs 2,156.50 and closed at a price of Rs 2,165.05. The scrip showed a movement of around 0.8 percent as compared to the previous closing price of Rs 2,147.45. Keeping a purview of three years, the stock has been able to provide multibagger [...]
Benchmark indices Sensex and Nifty ended the last day of 2022-23 fiscal with nearly 2 per cent jump on Friday in line with firm trends in the global markets and heavy buying in index major Reliance Industries. Fresh foreign fund inflows also added to the positive momentum in the equity market. The 30-share BSE Sensex [...]
Capital markets regulator Sebi on Friday extended the compliance requirement to three years for 'large corporates' to raise at least 25 per cent of their incremental borrowings through debt securities to a contiguous block from two years at present. This comes after the board of Sebi approved a proposal in this regard on Wednesday. Currently, [...]
Real estate developer Urbanrise has acquired a land parcel of 9.24 acre from Mahindra Life Spaces to develop a two million sq ft luxury highrise apartment community at Mahindra World City in Singaperumal Koil town about 45 km from here, the company said on Friday. The Alliance Group company's latest project is located near Chennai's [...]
Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI OYO may launch its initial public offering (IPO) around Diwali this year. Unlike the traditional route where companies have to launch the IPO [...]
Property registration in Mumbai municipal area is set to fall by at least 26 per cent year-on-year in March to 12,421 units on higher base and rise in mortgage rates, according to Knight Frank India. The registration data is up to 10.30 am on Friday and the numbers would increase by end of the day. [...]
A revamped credit guarantee scheme for India's micro and small enterprises will come into effect from Saturday, with the annual guarantee fee for loans up to Rs 1 crore getting reduced from the peak 2 per cent to 0.37 per cent, reducing the overall cost of credit for small businesses. The limit on ceiling for [...]
