SBI, SBI Cards, BPCL, Vedanta in spotlight

State Bank of India (SBI) said that the Reserve Bank of India (RBl) has, vide its letter dated 16th March,2021, imposed a monetary penalty of Rs 2 crore on the bank for contravention of provisions of Section 10 (1 ) (b) (ii) of the Banking Regulation Act, 1949 and specific directions of RBI issued to the bank on payment of remuneration to employees in the form of commission. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Sections 46 (4) (i) and 51 (1 ) of the Act.

Private equity firm Carlyle has reportedly launched a block deal to sell around 4% stake in the SBI Cards & Payment Services and raise around $513 million. The offer price range is Rs 981.80 per share to Rs 1,022.10 per share.

BPCL informed that the board of directors has declared second interim dividend of Rs 5 per equity share for the financial year 2020-21. Further, the board of directors have fixed Saturday, 27th March, 2021 as record date to determine the eligibility of the shareholders to receive the interim dividend.

Vedanta Resources (VRL), along with persons acting in concert with it (PACs), have decided to: (a) increase the number of equity shares to be acquired in the Open Offer to up to 651,000,000 equity shares, representing 17.51% of voting share capital of Vedanta; and (b) increase the offer price to Rs 235 per equity share including interest of Rs 1.29 per equity share. Total consideration for the offer is about Rs 15,300 crore.

Bharat Forge said the company has formed a new company Kalyani Powertrain to look into electric vehicle (EV) business initiatives. The newly formed subsidiary will look at organic and inorganic opportunities in the EV space.

BEML received export orders from Cameroon and Bangladesh under Government of India-Lines of credit.

H. G. Infra Engineering informed that the company has been declared L-1 bidder by National Highways Authority of India (NHAI), New Delhi.

Powered by Capital Market - Live News