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in BUSINESSM&M allots NCDs aggregating ₹500 crore
MUMBAI : Vehicle and tractor manufacturer Mahindra and Mahindra Ltd (M&M) on Monday said that it has allotted rated, listed, unsecured, redeemable non-convertible debentures or NCDs worth ₹500 crore, on a private placement basis. The company, in a regulatory filing, said it has allotted 5,000 NCDs of ₹10 lakh each for cash at par at […] More
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Madhya Pradesh Tops Wheat Procurement With Over 1.27 Crore Tonnes
A total of 3,86,54,000 metric tonnes of wheat was procured in the country this year. Bhopal: Madhya Pradesh has emerged the top state in the country in wheat procurement on support price by purchasing more than one crore metric tonnes from farmers. A total of 1,27,67,628 metric tonnes of wheat was procured by Madhya Pradesh, which […] More
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in BUSINESSBharat Bond ETF to launch NFO to raise Rs 14,000 crore
New Delhi: Bharat Bond Exchange Traded Fund (ETF), India’s first bond exchange-traded fund, will launch a new fund offer (NFO) in July to raise Rs 14,000 crore in two new series. The proceeds will be used as additional funding for central public sector undertakings and other government organisations to meet borrowing requirements. The proposed plan […] More
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in BUSINESS
Inox Leisure reports Q4 net loss of ₹82 crore on covid-19 hit
NEW DELHI : Multiplex chain operator Inox Leisure Ltd on Monday reported a consolidated net loss of 82.15 crore for the fourth quarter ended March 2020, as the film exhibition business was impacted because of COVID-19 pandemic and subsequent lockdown. The company had posted a net profit of ₹48.08 crore in January-March quarter a year […] More
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in BUSINESS
Abu Dhabi Investment Authority to invest Rs 5,683.5 crore into Jio Platforms; RIL unit has raised nearly Rs 1 lakh crore in past 7 weeks
Abu Dhabi Investment Authority (ADIA) will invest Rs 5,683.5 crore into Jio Platforms for an equity stake of 1.16 percent, a press release by Reliance Industries Limited and Jio announced. “With this investment, Jio Platforms has raised Rs 97,885.65 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala […] More
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in NEWS
Cyclone Amphan Caused Damage Of Over Rs 1 Lakh Crore: Bengal To Central Team
The cyclone left 98 people dead and caused destruction in several districts of Bengal.(FILE) Kolkata: The West Bengal government on Saturday gave an estimate of more than Rs one lakh crore for damages caused by Cyclone Amphan to the visiting inter-ministerial central team (IMCT) after its two-day survey of the devastation, officials said. As per […] More
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in BUSINESS
Rights issue helps RIL relcaim ₹10 lakh crore m-cap
MUMBAI : Reliance Industries on Thursday reclaimed ₹10 lakh crore market-capitalisation mark after its shares surged over 2.4 per cent on the back of the success of the rights issue. RIL closed at ₹1,579.95 on the BSE, a gain of ₹37.50 or 2.43 per cent over the previous day close. This took the m-cap past […] More
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in BUSINESS
Dhampur Sugars Q4 results: Post net profit of Rs 104 crore
New Delhi: Dhampur Sugars on Tuesday reported a marginal fall in consolidated net profit for the quarter ended March at Rs 104.07 crore. Its net profit stood at Rs 108.82 crore in the year-ago period, the company said in a regulatory filing. Total income rose to Rs 1,092.75 crore in the fourth quarter of last […] More
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in BUSINESS
Cabinet briefing today: Centre announces Rs 20,000 crore to MSMEs and hikes MSP for 14 Kharif crops
In a boost to the Micro, Small and Medium Enterprises (MSMEs) sector, worst-affected by the coronavirus crisis, the Union Cabinet on Monday revised the definition of MSMEs and announced a distress fund for this sector. In a meeting chaired by Prime Minsiter Narendra Modi, the Cabinet also approved upwards revision in MSP for 14 Kharif […] More
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in BUSINESS
EPFO releases Rs 868 crore pension along with Rs 105 crore arrear for commutation
New Delhi: Retirement fund body EPFO on Monday said it has released Rs 868 crore pension along with Rs 105 crore arrears on account of the restoration of commuted value of (higher) pension. On the recommendation of EPFO’s apex decision making body Central Board of Trustees, the government had accepted one of the long-standing demands […] More
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in BUSINESS
Kotak Mahindra Bank raises ₹7,442 crore via QIP
Private lender Kotak Mahindra Bank Ltd.’s board, on Saturday, said it raised at least Rs. 7,442.5 crore via issuance of 65 million shares in a qualified institutional placement (QIP). Following a board meeting, the bank said that shares have been offered to investors at Rs. 1145 apiece, which is at a discount of 6.43% to […] More
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in BUSINESS
Sagar Cements Q4 results: Profit down 94% to Rs 1.18 crore
New Delhi: Sagar Cements on Friday reported 94 per cent decline in consolidated net profit at Rs 1.18 crore for the fourth quarter ended March 31, 2020 due to COVID-19 related disturbances in the market. The Hyderabad-based company had posted a net profit of Rs 18.75 crore in January-March, 2018-19, Sagar Cements said in a […] More
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