The government on Friday said the disinvestment of IDBI Bank is on track as per the defined strategic sale process. Debunking media reports which indicated a possibility of deferment of IDBI Bank disinvestment, the Department of Investment and Public Asset Management (DIPAM) said the stake sale is in the post-EoI stage. "The transaction continues to [...]
Sterlite Power on Friday said it has bagged a green energy transmission project in Rajasthan. The project was bid out through tariff-based competitive bidding (TBCB) process, a company statement said. Sterlite Power received the Letter of Intent (LoI) from PFC Consulting Ltd to build the project on BOOT (build, own, operate, transfer) basis, for a [...]
Mortgage lender HDFC Ltd on Friday said its board would consider raising funds through non-convertible debentures (NCDs) in tranches aggregating to Rs 57,000 crore. "A meeting of the Board of Directors of the Corporation is scheduled to be held on Monday, March 27, 2023 to consider issuance of unsecured redeemable nonconvertible debentures, in various tranches, [...]
India's largest gas utility GAIL on Friday said it has signed an agreement with Shell Energy India Pvt Ltd to explore ethane sourcing and other opportunities along the energy value chain. GAIL is planning to import ethane from the US to replace natural gas and naphtha as feedstock at petrochemical plants. In a statement, GAIL [...]
The shares of Sterling Tools Ltd. surged 9.86% on Friday’s early trades to reach a 52-week high of ₹ 392.60 apiece on the Bombay Stock Exchange (BSE) following a strong business outlook by its management. Sterling Tools is one of the largest automotive fastener manufacturers in India. It entered the electric vehicle (EV) space in [...]
With a market capitalization of ₹ 15331 crores, Ajanta Pharma is a small-cap pharmaceutical company that is engaged in the development, manufacturing and marketing of speciality pharmaceutical quality finished dosages. Its shares were trading at ₹ 1195 levels on Friday. The company’s board has approved the proposal of a buy-back of 22,10,500 fully paid-up equity [...]
PhonePe, one of India's largest fintech platforms, on Friday said it has raised an additional USD 200 million (around Rs 1,649 crore) in primary capital from Walmart, at a pre-money valuation of USD 12 billion. This new funding comes as a part of PhonePe's ongoing fundraise of up to USD 1 billion in capital, following [...]
The shares of Hindustan Aeronautics Ltd. (HAL) increased by 4.7% to touch their near 52-week high of Rs 2,850 during the early hours of trading on Friday. This rise comes on the back of Defence Minister Rajnath Singh approving a large capital project worth Rs 70,584 crore to indigenously procure military hardware equipment. On Wednesday, [...]
FSIB, the headhunter for directors of state-owned banks and financial institutions, on Thursday recommended the name of Indian Bank executive director Ashwani Kumar for the post of managing director of UCO Bank. Prior to joining Indian Bank, Kumar was serving as chief general manager of Mumbai Zone of Punjab National Bank (PNB). The Financial Services [...]
TCS chief Rajesh Gopinathan has put in his papers, nearly four years ahead of the completion of his tenure, and will be replaced by company veteran K Krithivasan. The country's largest software exporter on Thursday said Krithivasan has been nominated as the CEO designate with immediate effect while Gopinathan, who has been at the helm [...]
