Page 1949 - Company News
PNB raises Rs 2,000 crore via AT1 capital bonds at lower rate of 8.75%
Gains from easing bond yields worldwide; better rate comes against indicative yield of 9-9.25%
 "PNB raises Rs 2,000 crore via AT1 capital bonds at lower rate of 8.75%")
Fund-raising drive on track, majority of the $800 mn received, says Byju's
The firm said its payments to education firm Aakash for a $1-billion deal struck last year have concluded and the audited financial results will be out in 10 days
 "Fund-raising drive on track, majority of the $800 mn received, says Byju's")
LIC to hold first AGM on Sept 27 via video-conference, other AV means
LIC Board sets August 26 as record date for dividend payment, approves investment in proposed rights issue of LIC (Nepal) Ltd
 "LIC to hold first AGM on Sept 27 via video-conference, other AV means")
Indian cryptocurrency exchange Vauld suspends withdrawals, trading
Company says it's looking for new potential investors as it considers the option of restructuring
 "Indian cryptocurrency exchange Vauld suspends withdrawals, trading")
Shareholders turn down Reliance Power's asset monetisation plan
A report by Institutional Investor Advisory Services (IiAS) last month says that the company has defaulted on loans to the tune of Rs 3,561 crore as on March 31, 2022
 "Shareholders turn down Reliance Power's asset monetisation plan")
Our expansion plans will take a hit due to ATF duty, say airlines
Say the move will make international flights uncompetitive, seek rollback
 "Our expansion plans will take a hit due to ATF duty, say airlines")
Valuation hurdle stiff for DMart despite 26% correction since January
Store additions strong while same store sales declined in Q1
 "Valuation hurdle stiff for DMart despite 26% correction since January")
AEL lowest bidder in CIL's maiden import tender, miner may negotiate price
Adani Enterprises has emerged as the lowest bidder in Coal India's tender for imports of the dry fuel with quoting over Rs 4,000 crore for supply of 2.416 million tonne, sources said
 "AEL lowest bidder in CIL's maiden import tender, miner may negotiate price")
When flying over Indian skies, it's a bird, it's a plane, it's a bane
Birds and sundry animals pose a permanent safety hazard at Indian airports built near densely populated areas
 "When flying over Indian skies, it's a bird, it's a plane, it's a bane")
Vedanta aluminium output rises by 3% to 565,000 tonnes in Apr-Jun
Mining giant Vedanta Ltd on Monday reported a 3 per cent increase in its aluminium production to 5,65,000 tonnes in the April-June quarter of the ongoing fiscal.
 "Vedanta aluminium output rises by 3% to 565,000 tonnes in Apr-Jun")
Tata Steel to work 'expeditiously' to restart NINL, expand capacity
Tata Steel on Monday said it will work "expeditiously" to restart NINL and simultaneously draw a plan to expand its capacity to produce 4.5 MTPA long products complex in the next few years.
 "Tata Steel to work 'expeditiously' to restart NINL, expand capacity")
Paper stocks in demand amid ban on certain single-use plastic items
Since June 30, shares of Seshasayee Paper and Boards jumped 7%, Andhra Paper gained 6.2%, Tamil Nadu Newsprint & Papers climbed 4.62% and Satia Industries advanced 4.62% on the BSE
 "Paper stocks in demand amid ban on certain single-use plastic items")
Tata Motors expects its performance to be better in H2FY23: Chandrasekaran
Tata Motors expects second half of the current fiscal to be better in terms of performance with gradual improvement in the overall supply situation in commodity prices, according to N Chandrasekaran.
 "Tata Motors expects its performance to be better in H2FY23: Chandrasekaran")
Amadeus signs pact with Air India for providing passenger service system
Travel technology company Amadeus will provide passenger service system to Tatas-owned Air India as the airline works on ways to improve operational efficiency as well as customer experience.
 "Amadeus signs pact with Air India for providing passenger service system")
Titan says mid-term outlook for jewellery division positive amid headwinds
Tata group firm Titan said the outlook for its jewellery division in FY23 and mid-term is "positive" with "excellent" growth opportunity helped by multi-pronged efforts within the wedding market
 "Titan says mid-term outlook for jewellery division positive amid headwinds")
Neelachal Ispat Nigam ownership handed over to Tata group-owned TSLP
NINL is a joint venture of four CPSEs, namely MMTC, NMDC, BHEL, MECON and two Odisha Government PSUs, namely OMC and IPICOL
 "Neelachal Ispat Nigam ownership handed over to Tata group-owned TSLP")
Byju's clears $950-mn payment to Aakash, completes $800-mn fund raise
Byju's founder and CEO Byju Raveendran has made a personal investment of $400 mn of the total $800 mn raised in the latest funding round by the edtech company
 "Byju's clears $950-mn payment to Aakash, completes $800-mn fund raise")
Corrtech International gets Sebi's go-ahead to raise funds through IPO
Corrtech International, a pipeline laying solutions provider, has received capital markets regulator Sebi's go ahead to raise funds through an Initial Public Offering (IPO).
 "Corrtech International gets Sebi's go-ahead to raise funds through IPO")
Windfall tax: $12 margin hit for Reliance; govt to rake in Rs 1.3 trn
However, the earnings impact for RIL is likely to be less material given offsets from marking-to-market for current GRM strength, says a brokerage
 "Windfall tax: $12 margin hit for Reliance; govt to rake in Rs 1.3 trn")
TN: Tata Power to invest Rs 3k cr to set up solar cell manufacturing unit
Tata Power on Monday announced that it has inked a pact with the Tamil Nadu government to invest Rs 3,000 crore for setting up a facility to manufacture solar cells and modules in Tirunelveli
 "TN: Tata Power to invest Rs 3k cr to set up solar cell manufacturing unit")