Page 666 - Business Finance
Karur Vysya Bank appoints N S Srinath as non-executive chairman
Karur Vysya Bank Tuesday said it has appointed N S Srinath as non-executive chairman for a period of three years. Srinath, 66, was the non-executive independent director on the board of the private sector lender. "The board in its meeting held today appointed N S Srinath, non-executive independent director as the non-executive (part-time) chairman of the bank, for a period of three years... subject to the approval of the Reserve Bank of India and the shareholders of the bank," Karur Vysya Bank said in a BSE filing. Srinath had earlier served as an executive director on the board of Bank of Baroda and superannuated on May 31, 2012.
Sensex jumps 400 pts, Bank Nifty up 2.39%
Both Sensex and Nifty advanced over 1 per cent each during the afternoon session of trade on Tuesday owing to a recovery in the Asian markets.
Online food ordering market may grow at over 16 pc, likely to touch USD 17.02 bn by 2023: Study
The online food ordering market in India is likely to grow at over 16 per cent annually to touch USD 17.02 billion by 2023, according to a study by business consultancy firm Market Research Future. The study, titled 'Digital Platforms Reign in the Food Ordering Market', said the growth in online food ordering market has been attributed to the rising number of women in working population in most of the metro cities. "The Indian online food ordering market is slated to grow at a CAGR (compound annual growth rate) of 16.2 per cent at USD 17.02 billion by 2023," it said. According to the study, 95 per cent of the respondents surveyed order food online, owing to promotional offers and discounts, while 84 per cent individuals said its hassle-free and time-saving. It added that 78 per cent of the individuals order food online because its convenient. And 73 per cent order food online because of a wide variety of cuisines on a single-click. "Lunch is the most preferred meal to be ordered ...
Board of Indo Cotspin appoints directors
At meeting held on 25 March 2019
Kalpataru Power gains after acquiring stake in Swedish EPC company
Kalpataru Power Transmission rose 2.39% to Rs 444.10 at 14:58 IST on BSE after the company said it acquired 85% stake in Sweden's Linjemontage i Grastorp AB for an enterprise value of $24 million.
NLC India Ltd leads losers in 'A' group
Reliance Communications Ltd, Jubilant Life Sciences Ltd, Meghmani Organics Ltd and SpiceJet Ltd are among the other losers in the BSE's 'A' group today, 26 March 2019.
TRAI gets DoT reference on BSNL 4G spectrum allocation
The telecom regulator on Tuesday said it has received the government's reference on 4G spectrum allocation to BSNL and will soon start the consultation process.
Jet Airways' pilots say they remain committed to the airline
Jet Airways' pilots said on Tuesday they remain committed to the airline and will leave no stone unturned to ensure that it returns to its former glory."We look forward to a new beginning," said Capt Tej Sood, General Secretary of the National Aviators Guild (NAG), in a letter to Rajnish Kumar, Chairman of the State Bank of India (SBI) which will lead the consortium of lenders to provide Rs 1,500 crore in emergency funding and bail out the financially-strapped airline.The development came a day after Jet Airways Chairman Naresh Goyal and his wife Anita holding 51 per cent of the equity resigned from the board and transferred control to the lenders. An interim management committee has been created to manage and monitor daily operations and cash flow."The pilots remain committed to the airline and would leave no stone unturned to ensure that our airline returns to its former glory," said Capt Sood in the letter."It is our humble request to you to alleviate some of the hardships that we .
Sensex, Nifty hit fresh intraday high
Key equity indices extended gains and hit fresh intraday high in mid-afternoon trade. At 14:35 IST, the barometer index, the S&P BSE Sensex, was up 398.40 points or 1.05% at 38,207.31. The Nifty 50 index was up 115.65 points or 1.02% at 11,469.90. The Sensex regained the 38,000 mark.
South Indian Bank to raise Rs 250 crore through issue of Tier 2 bonds
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MoCA secy chairs meeting with Naresh, Anita Goyal
New Delhi [India], Mar 26 (ANI): Secretary Ministry of Civil Aviation, Pradeep Singh Kharola, on Tuesday has called for a meeting with Naresh Goyal and his wife Anita Goyal to discuss issues pertaining to Jet Airways. Naresh Goyal and his wife Anita had on Monday stepped down from the Jet Airways' board of directors.Apart from Kharola, Director General of Civil Aviation BS Bhullar is also attending the meeting, which is being held at the Ministry office here.According to sources, the meeting is being held to discuss operations of Jet Airways and management functioning after the promoters stepped down.Earlier, Jet's board had said there will be immediate funding support of up to Rs 1,500 crore by lenders by way of issue of appropriate debt instrument against the security of the assets of Jet Airways.According to a statement issued by Kuldeep Sharma, vice president--Global Compliance and Company Secretary, "The bidding process will be initiated by lenders for sale/issue of shares to new
South Indian Bank to raise Rs 250 crore via bonds issue
South Indian Bank Tuesday said it would raise Rs 250 crore by issuing Basel III-compliant bonds to add up to its tier-II capital. The capital planning and infusion committee of directors Tuesday accorded approval to allot Basel III-compliant debt instruments qualifying as tier-II capital of the bank, South Indian Bank said in a BSE filing. The private sector lender will issue 25,000 non-convertible, redeemable, unsecured debt instruments in the nature of bonds of a face value of Rs 1 lakh each, aggregating to Rs 250 crore, it said. Shares of South Indian Bank were trading at Rs 15.75 apiece, up 0.38 per cent, over the previous close on the BSE.
Laurus Labs enters into strategic partnership with Global Fund
Under this Partnership agreement Laurus Labs received and executed the order from Global Fund which would cater to the supplies of the high burden diseases countries in Sub Saharan African (SSA) region. This is the maiden order for Tenofovir/Lamivudine/Dolutegravir 300/300/50mg (TLD) after the Company received a tentative approval from USFDA in the month of February 2019.
Ponni Sugars (Erode) Ltd leads losers in 'B' group
Country Condos Ltd, Balkrishna Paper Mills Ltd, Shriram EPC Ltd and Poddar Housing & Development Ltd are among the other losers in the BSE's 'B' group today, 26 March 2019.
Volumes soar at Shilpa Medicare Ltd counter
Shilpa Medicare Ltd clocked volume of 84376 shares by 14:19 IST on NSE, a 9.53 times surge over two-week average daily volume of 8857 shares
Laurus Labs firms up after partnership with Global Fund
Laurus Labs rose 3.38% to Rs 387.15 at 14:17 IST on BSE after the company said it entered into strategic partnership agreement with the Global Fund.
ITC sells brand John Players to Reliance Retail
Conglomerate ITC Tuesday said it has sold its menswear brand John Players to Reliance Retail for an undisclosed amount. Besides, the Kolkata-based firm has also transferred the trademark as part of the deal. "In line with this ongoing restructuring, ITC has sold the brand John Players and related trademarks and intellectual property, and the goodwill related thereto, to Reliance Retail Ltd," a spokesperson of ITC said. He said a restructuring plan is underway as part of the strategic review of the lifestyle retailing business. According to media reports, the deal is estimated to be around Rs 150 crore. The deal would strengthen the presence of Reliance Retail and its online platform Ajio.com in the growing lifestyle retail space. Established in 2002, John Players was a youth fashion apparel brand from ITC.
Mining dependents in Karnataka protest job losses
Around 6,000 mining dependents from Bellary and Chitradurga districts, as well as surrounding mining belts, protested here on Tuesday against the bad condition of the mining industry in Karnataka and appealed to the government to save their livelihoods.
NSE to conduct mock trading session on Mar 30
Leading bourse National Stock Exchange (NSE) will conduct a mock trading session in the capital market segment on March 30. The pre-open mock trading session will begin at 10:00 am and continue till 10:08 am, while the normal market session will commence at 10:15 am and close at 03:30 pm, the exchange said in a circular. Trades resulting from the mock session do not attract any obligation in terms of funds pay-in or pay-out, it added. Mock trading sessions are generally conducted by stock exchanges to test their system performance as part of their efforts to provide a robust platform to members in order to enable flawless trading.
Mayur Uniquoters acquires 68% in Futura Textiles Inc.
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