Corporate & Markets News
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Scooter-sharing start-up Vogo gets funding from Ola, Munjal, others
FE Bureau | August 15, 2018 2:33 AMVogo is a dockless scooter rental company which lets customers rent scooters for short one-way trips at various locations in Bengaluru and Hyderabad.
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Financial woes: Jet looks to raise funds via promoter share pledges
FE Bureau | August 15, 2018 2:25 AMCan raise nearly Rs 1,035 cr against promoter share pledges; chairman Goyal holds 51% in the airline.
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Grasim posts 85% rise in June quarter profit
FE Bureau | August 15, 2018 2:17 AMAditya Birla group company Grasim Industries on Tuesday reported an 85% year-on-year increase in the company’s standalone net profit for April-June 2018 on the back of a robust growth in volumes in vicose fibre and chemical business.
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We are pretty confident we’ll raise Rs 200 crore by next year, says managing partner of Artha Venture Fund
Bhavik Nair | August 15, 2018 2:13 AMArtha Venture Fund, which recently completed raising Rs 40 crore for its maiden fund, is looking to mop up Rs 200 crore in a year’s time.
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NTPC to create coal mining subsidiary
FE Bureau | August 15, 2018 2:00 AMCoal supply to power plants have been a pressing issue on the back of rising power demand and inadequate railway rakes to tansport the fuel.
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Cyrus Mistry case: NCLAT may pronounce interim order on August 20
Surya Sarathi Ray | August 15, 2018 1:56 AMCyrus Mistry’s plea seeks an interim stay on the proposed conversion of Tata Sons into a private company from a deemed public limited firm now.
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Jio Phone 2 to go on flash sale tomorrow
FE Bureau | August 15, 2018 1:52 AMReliance Jio’s second edition of the 4G feature phone — JioPhone 2 — will be made available for the public through a flash sale on Thursday around noon on Jio.com.
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IDBI Bank June qtr loss widens to Rs 2,410 crore
FE Bureau | August 15, 2018 1:06 AMIDBI Bank on Tuesday reported a net loss of Rs 2,410 crore for the June 2018 quarter, wider than the Rs 853-crore loss reported in the same period last year, owing to a 157% year-on-year (y-o-y) jump in provisions.
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Allahabad Bank posts Rs 1,944-cr Q1 net loss on higher provisions
FE Bureau | August 15, 2018 1:01 AMAllahabad Bank on Tuesday reported a net loss of Rs 1,944.37 crore for the first quarter ended June against a net profit of Rs 28.84 crore in the corresponding quarter a year ago as the lender saw 29% fall in operating profit.
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Sundaram BNP Paribas HomeFin may raise Rs 3,500 cr
FE Bureau | August 15, 2018 12:57 AMSundaram BNP Paribas Home Finance, in a bid to fund its business expansion, is planning to raise Rs 3,500 crore in the current financial year through a mix of instruments.
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IVRCL RP seeks expression of interest for second time
FE Bureau | August 15, 2018 12:52 AMThe interim resolution professional (IRP) for IVRCL on Tuesday invited expression of interest (EoIs) for the company from interested bidders under the corporate insolvency resolution process (CIRP).
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Pune-based Cosmos Cooperative bank takes Rs 94-cr hit from cyberattack
Geeta Nair | August 15, 2018 12:48 AMRs 78 cr were transferred outside India and withdrawn across 28 countries using cloned cards of the bank.
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Analyst Corner: ZEE one of the top picks in media space; maintain buy
Edelweiss | August 15, 2018 12:42 AMZEE expects similar revenue from Jio as it garners from the DTH/cable players. High consumption is happening outside home now, which is good for ZEE.
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Analyst Corner: Dr Lal PathLabs valuations boosted by growth prospects
Nomura | August 15, 2018 12:37 AMDr Lal pathlabs’ (DLPL) 1FY19 results were below our estimates. Sales recorded 17% growth y-o-y and were 3.4% lower than our estimates.
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Private life insurers pip LIC in July APE growth
FE Bureau | August 15, 2018 12:33 AMThe Life insurance industry ended the month of July on a positive note as its individual annual premium equivalent (APE) stood at 7.8% year-on-year at Rs 4,987.5 crore. While private life insurers saw their individual APE at 13.2%.
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Fundraising via QIPs in 2018 so far less than half of same period last year
Sundar Sethuraman | August 15, 2018 12:28 AMThe total amount raised by companies through the qualified institutional placement (QIP) route in the first seven months of 2018 at Rs 15,963.39 crore is less than half the Rs 34181.52 crore raised in the same period in 2017.
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Q1 result: Tata Steel net more than doubles to Rs 1,934 crore
FE Bureau | August 14, 2018 3:14 AMTata Steel’s consolidated net profit more than doubled on a year-on-year basis to Rs 1,934 crore for the three months ended June 30, 2018
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Amazon India ops receive fresh capital of Rs 2,800 crore
Anushree Bhattacharyya | August 14, 2018 3:07 AMThe infusion of fresh funds is part of the $5-billion commitment made by Amazon founder Jeff Bezos for the Indian market. With this, Amazon Inc has till date invested Rs 25,220 crore ($3.84 billion).
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Air India says yet to receive equity infusion from government
FE Bureau | August 14, 2018 3:03 AMAir India on Monday said it is yet to receive the equity infusion from the government to meet its working capital requirements after an airline’s pilots’ body claimed grounding of several aircraft due to lack of funds.
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Jet Airways may monetise flying miles programme to raise $500 million
FE Bureau | August 14, 2018 2:59 AMJetPrivilege, which is co-owned by the carrier’s partner Etihad Airways, is valued at around $1 billion.
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KKR-backed REEL looks to invest Rs 2,500 cr in 3 years
FE Bureau | August 14, 2018 2:54 AMRamky Enviro Engineers (REEL), a provider of environmental services and solutions in which KKR acquired a 60% stake for $530 million, is looking to make investments worth Rs 2,500 crore over the next three years.
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NTPC may issue 2.5 mt coal import tender by mid-September
Vikas Srivastava | August 14, 2018 2:50 AMNTPC is planning to issue a tender for import of 2.5 million tonne of coal by mid-September to cater to the growing power demand in the country. The PSU last imported coal three years ago.
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RentMojo to now give mobile phones on lease
FE Bureau | August 14, 2018 2:50 AMFintech leasing and patron company, RentoMojo announced the launch of mobile phones on its platform.
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Matrimony.com bets on app in 8 languages to take on competition
FE Bureau | August 14, 2018 2:34 AMChennai-based consumer internet company Matrimony.com, popular for its online match-making services, said its busines is witnessing an intense competition in the North and some parts of the Western markets in the country.
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Since signing of ICA: PSBs put NPAs worth Rs 8,706 cr up for sale
Shritama Bose | August 14, 2018 1:49 AMPSBs have put on sale NPAs worth Rs 8,706 crore since the signing of the ICA on July 23, implying that they will continue to look for other ways to palm off exposures to bad loans unilaterally and make quick cash recoveries.
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Central Bank to buy back tier-II bonds, perpetual debt worth Rs 3,024 crore
Shritama Bose | August 14, 2018 1:44 AMCentral Bank of India has decided to carry out a premature buyback of its upper tier-II bonds and innovative perpetual debt instruments (IPDIs) worth Rs 3,024 crore and sought bids from merchant bankers for conducting the process.
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Greater Hyderabad Municipal Corporation raises Rs 195 cr via bonds
FE Bureau | August 14, 2018 12:32 PMThe GHMC commissioner said the municipality has raised Rs 400 crore so far, including the latest issue, and plans to raise another Rs 600 crore by March 2019.
Horoscope: By Peter Vidal
SAGITTARIUS Your creative energy should now be at a peak, but not perhaps because the stars are all on your side. On the contrary, challenging romantic stars remind us of the cliché that all great art stems from… read more
