Punjab National Bank, Indian Bank, HDFC, ICICI Bank, Bank of Baroda, BoI, Central Bank of India and Canara Bank have increased Retail Prime Lending Rate. The banks' move comes after a number of banks raised their external benchmark based lending rates following an increase of 0.40 per cent in the repo rate -- at which the Reserve Bank lends short term money to banks.
A massive fire broke out in a Coke plant at Jamshedpur's Tata Steel Factory due to an alleged blast in a battery. Tata Steel on Saturday said three contractual workers at its plant in Jamshedpur received minor injuries. There has been no impact on production..
HCL Technologies' UK-based subsidiary has acquired Switzerland-based digital banking and wealth management specialist Confinale AG, for 53 million CHF (Swiss Francs). The said acquisition is likely to be completed by July 1, 2022.
Equitas Small Finance Bank and the parent Equitas Holdings Ltd have received the Reserve Bank of India's no-objection certificate to their proposed amalgamation, subject to conditions. "We would like to inform that RBI in its letter dated May 6, 2022, has conveyed its no-objection to our proposal for voluntary amalgamation of EHL (Equitas Holdings Ltd) with ESFB (Equitas Small Finance Bank)," they said in their stock exchange filings.
L&T Group on Friday announced a merger of L&T Infotech and Mindtree, which will create the country's sixth largest information technology company with combined revenue of $3.5 billion. As per the all-stock deal, shareholders of Mindtree will get 73 shares of LTI (L&T Infotech) for every 100 shares they hold. L&T will hold 68.73 per cent in the merged entity which will be called 'LTIMindtree'. The merger is expected to be completed in the next eleven months after required approvals.
Dr Pushp Kumar Joshi has taken charge as Chairman & Managing Director of Hindustan Petroleum Corporation Ltd (HPCL), a Maharatna Company on May 8. Prior to this, Dr Joshi was Director-HR of the Corporation from August 1, 2012. Dr. Joshi is also holding the Additional charge of Director - Marketing of HPCL.
Evey Trans Private Limited (EVEY) has been declared as the Least Quoted (L-1) bidder for 1,400 (+ 50 per cent Variation) Electric Buses from one of the State Transport Undertakings. Once the Letter of Award is received by EVEY, it should procure (either directly by itself or through its Special Purpose Vehicle) from Olectra Greentech Limited (Olectra) and which would be delivered over 12 months. The value of these 1,400 Buses supply would be approximately ₹2,450 crore for Olectra. Maintenance of these buses will also be undertaken by Olectra during the Contract Period.
The board of Sagar Cements has allotted 1.32 crore shares at ₹265 a share, to PI Opportunities Fund - I Scheme II, an affiliate of Premji Invest, a leading Private Equity fund in India on a preferential basis in accordance with the approval accorded by the shareholders at their Extra-Ordinary General Meeting held on April 23.
State-run SJVN Ltd has bagged a 90 MW floating solar project worth ₹585 crore at Omkareshwar, in Madhya Pradesh. It has bagged the project at ₹3.26/Unit on Build Own and Operate basis in a tender floated by REWA Ultra Mega Solar Ltd (RUMSL).
The Board of Grindwell Norton has approved the execution of the Share Purchase Agreement with the existing shareholders of PRS Permacel Private Limited for the acquisition of 100 per cent equity shares for a consideration of ₹122 crore. The acquisition will help broadening the product portfolio and alignment with the global business interests.
Business services provider Quess Corp Ltd, along with Fairfax Financial Holdings Ltd, will invest ₹300 crore to set up a paediatric specialty centre at the Kannigapuram campus of Christian Medical College, Vellore in Tamil Nadu.
Debt-ridden Future Group will sell part of its stake in Amar Chitra Katha Pvt Ltd (ACKPL), which publishes Amar Chitra Katha comics, for ₹13.62 crore.
Results Calendar: 3i Infotech, Aarti Drugs, Abhijit Trading, BASF, Borosil, Central Bank of India, CMS Infosystems, Cosmo Films, Craftsman, Dalmia Bharat, Datiwire Maritime, Escorts Finance, GNFC, Godrej Agro, HP Cotton, Infibeam, ISMT, Jayatma Industries, KEI Industries, Moldtek Tech, Moldtek Packaging, Natural Capsules, Prakash Pipes, Premier Polyfilm, PVR, Sika, Sujtlej Textiles, Suven Pharma, Thinkink, Trigyn Tech, UPL, Vedant Fashions, Visaka Ind, Vishwaraj, VST TIllers and Wardwizard.