Comments
The board of Grasim Industries has approved ₹4,000-crore rights issue. The issue price has been fixed at ₹1,812 a rights share when fully paid-up and the record date as January 10. The rights issue will open on January 17 and close on January 29. The rights entitlement ratio has been fixed as six rights shares for every 179 fully paid-up equity shares. To company will issue 2.2 crore shares on a rights basis.
Shree Cement has announced a revamp of its corporate brand identity and launched multiple brand offerings, with ‘Bangur’ as the master brand. The new Bangur brand identity is anchored on the idea of Build Smart - a core philosophy capturing the company’s consumer proposition, organizational philosophy, and national ambition.
Sun TV Network said the board of its subsidiary Kal Radio has approved the merger of Udaya FM with itself.
Jupiter Wagons has announced the receipt of a significant contract with the Ministry of Defence for the manufacturing and supply of 697 Boggie Open Military (BOM) Wagons. This esteemed contract, valued at ₹473 crore, along with the visionary leadership of the Ministry of Defence underscores Jupiter Wagons’ commitment to India’s firm stance for an Atmanirbhar Bharat.
RBL Bank in a quarterly update said that its retail advances grew 32 per cent y-o-y while wholesale advances grew 6 per cent y-o-y for the quarter ended December 31, 2023. The mix of retail: wholesale advances was approx. 58:42. The Bank continues to focus on growing the share of granular retail deposits in the overall deposit mix, with retail deposits (as per LCR definition) at approx. 44.4 per cent as against 43.3 per cent as of December 31, 2022.
J&K Bank said that its gross advances up 14.1 per cent year-on-year to ₹93,626 crore, while deposits rose by 9% to ₹1.28-lakh crore for the quarter ended December 2023. CASA Ratio declined to 50.59 per cent from 53.29 per cnet last year.
Utkarsh Small Finance Bank’s gross loan portfolio was up 30.8 per cent to ₹16,408 crore for the qurter ended December 2023. Total deposits were up 17.6 per cent to ₹15,111 crore. Retail term deposits were up 45.8 per cent year-on-year to ₹7,228 crore. Collection efficiency for the quarter stood at 96.3 per cent and provisional liquidity coverage Ratio stood at 195 per cent, the SFB said in a disclosure.
Pharma major Lupin said that it has received a tentative approval from the USFDA for Dapagliflozin and Saxagliptin tablets used as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus. Both tablets had estimated sales of $5 million in the US. The drugs will be manufactured at Lupin’s Pithampur unit.
UltraTech Cement said that it gave a corporate guarantee for $147 million in favour of Sumitomo Mitsui Banking Corporation, Singapore Branch, for a credit facility availed by its wholly-owned subsidiary in the UAE, which is Ultratech Cement Middle East Investments Ltd.
Shakti Pumps has received Government of India patent for inventing the Solar Flour Mill. This patent will be valid for 20 years and is the ninth patent won by the company.
Bajaj Auto has launched new variants of its flagship scooter Chetak - the Chetak Premium 2024 and Chetak Urbane 2024.
Power Finance Corp said it has increased its FY24 market borrowing plan to ₹1.05 lakh crore from ₹80,000 crore.
REC Power Development and Consultancy, subsidiary of REC, has signed a ₹2,094 crore MoU with the Gujarat Government for the implementation of a smart metering project in Paschim Gujarat Vij Company.
Torrent Pharmaceuticals has incorporated a subsidiary in Columbia for business expansion.
Brightcom Group said that Vijay Kancharla has resigned as chief investment officer and executive director, effective January 2 due to personal reasons.
The board of Waaree Renewable Technologies will meet on January 20 to consider a stock split.
Comments
COMMENT NOW
