Company news

| Updated on January 09, 2018 Published on August 29, 2017

Kesar Terminals & Infrastructure has informed the exchanges of the commencement of inland container depot (ICD) operations and rail transportation of containers from the Private Freight Terminal of Kesar Multimodal Logistics (KMLL) — subsidiary of the company — at Powarkheda, Hoshangabad, Madhya Pradesh. It has dispatched the first lot of export cargo through 45 containers of 40 FEU each, from the Multimodal Composite Logistics hub of KMLL. The facilities at the hub permit transportation of foodgrains, soya extract, vegetables and fruits from Powarkheda to any location in India by rail within 24 hours. The stock of Kesar closed flat at ₹215.35 on the NSE.

The promoters of Omaxe will undertake a 90 per cent salary cut and forego their share of dividend, leading to savings of ₹15 crore a year. The decision was taken keeping in mind the challenges faced by the industry because of implementation of the Real Estate (Regulation and Development) Act and the Goods and Services Tax, and in the backdrop of demonetisation, it said in a statement to the exchanges. Shares of Omaxe ended down 1.1 per cent at ₹202.50 on the NSE.

Sadbhav Infrastructure Project on Tuesday said that its subsidiary Shreenathji Udaipur Tollway Pvt Ltd has completed refinancing of its existing debt facilities by reducing the interest rate to 9.20 per cent per annum from the current 11.30 per cent. The effective date for repayment of debt will be March 31, 2037. The company will also issue non-convertible debentures to infrastructure debt funds for an amount of up to ₹545 crore, subject to necessary approvals. Accordingly, the average cost of the entire debt will be reduced to 8.81 per cent per annum. Shares of the company closed a tad lower at ₹101.75 on the NSE.

Published on August 29, 2017
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