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Global ratings agency Moody’s Investors Service has downgraded its rating on the senior unsecured bonds issued by Vedanta Resources to Ca from Caa3. The rating for the Corporate Family Rating (CFR) of Vedanta Resources was also downgraded to Caa3 from Caa2, Moody’s said.
Polycab India, a leading electrical goods company, denies any rumours of tax evasion by the Company circulating in media. The Company asserts its commitment to compliance and transparency, having fully cooperated with the Income Tax Department officials during the search proceedings in Dec ‘23. The Company has not received any communication from the Income-tax department regarding the outcome of the search.
Karnataka Bank has partnered with fintech company Digivriddhi (DGV) to offer host of financial services catering to the needs of dairy farmers & Milk Societies. The services will be made available at Village Dairy Co-operative Societies, associated with Milk unions of Karnataka Milk Federation (KMF). To begin with, the services are now made available to milk societies associated with Chamarajnagar Milk Union and will be rolled out to farmers of other unions in rapid succession.
Steel Strips Wheels has acquired AMW Autocomponent for ₹138.5 crore. The company has infused equity of ₹5 crore and inter corporate loan of ₹133.15 crore into AMW Autocomponent.
Delta Corp reported a fall of 59 per cent y-o-y at ₹34.48 crore. Its revenue fell 15.6 per cent to ₹231.74 crore. Casino and online gaming, company’s strong business divisions show sharp revenue slowdown.
Power Finance Corporation has eceived no objection letter from the RBI to set up a -o-situated in GIFT City in Gujarat.
Lupin has announced the launch of Bromfenac Opthalmic Solution, 0.07 per cent in the US after receiving approval from US FDA. The solution is used for postoperative inflammation and reduction of ocular pain in patients who have undergone cataract surgery.
KIOCL, formerly Kudremukh Iron Ore Company Ltd, has temporarily suspended the operation of the Pellet Plant Unit in Mangalore due to the non-availability of iron-ore fines. The company said it will inform the exchanges when the plant will be back in operation.
Results Calendar: 7NR Retail Ltd, Corporate Merchant Bankers, Martin Burn, SPS FInquest, Sunita Tools, UH Zaveri
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