Comments
IL&FS Transportation Networks on Wednesday said Srinagar Sonmarg Tunnelway, its 49:51 joint venture with Soma Enterprises, has tied up with ICICI Bank for ₹2,363 crore loans. The total project is estimated to cost ₹3,289 crore. The special purpose vehicle had bagged a contract from Border Roads Organisation in April last year to develop, operate and maintain the 6.5-km tunnel and the 6-km approach road along the Srinagar-Sonamarg-Gumri road section on National Highway-1 in Jammu & Kashmir. Shares of IL&FS Transportation traded down 0.25 per cent at ₹204.55 on the NSE.
Essel Propack has sought shareholder approval to raise up to ₹300 crore through an equity issue on private placement basis to qualified institutional buyers, the company said in a notice to the exchanges on Wednesday. Essel Propack has also sought approval to raise up to ₹150 crore through debt and another ₹150 crore by issuing debt securities. Shares of Essel Propack slipped one per cent at ₹98.15 on the NSE.
UCO Bank in a statement to the exchanges on Wednesday said that forensic audit is being undertaken in respect of four old accounts which are categorised as “standard” in the bank’s books. The material impact would possibly be known only after completion of the audit, the statement added. Shares of UCO Bank plunged 8 per cent at ₹90.5 on the NSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.