Comments
Shares of ADAG companies such as Reliance Infra, Reliance Capital, RPower and Reliance Naval will come under pressure as capital market regulator Securities and Exchange Board of India (SEBI) on Friday restrained Reliance Home Finance Ltd, industrialist Anil Ambani and three other individuals from the securities market for alleged fraudulent activities related to the company.
The three other individuals are Amit Bapna, Ravindra Sudhakar and Pinkesh R Shah. In an 100-page interim order, the regulator also restrained the individuals from "associating themselves with any intermediary registered with SEBI, any listed public company or acting directors/ promoters of any public company which intends to raise money from the public till further orders."
The board of YES Bank has approved a proposal to seek investors' nod for early redemption of bonds worth ₹1,764 crore. The decision was taken at a meeting of the Capital Raising Committee of the lender, YES Bank said in a regulatory filing. The committee gave its nod to a proposal seeking approval from investors for early redemption of Basel II-compliant lower tier-II and upper tier-II bond instruments subject to necessary approvals, it said.
Dr Reddy's Laboratories has entered into an exclusive sales and distribution agreement with Novartis India Ltd (NIL). However, this will also lead to around 400 NIL employees being laid off due to role redundancies. Under the arrangement, Dr Reddy's will have exclusive rights to promote and distribute the well-established Voveran range, the Calcium range and Methergine in India.
IL&FS group would resolve debt of ₹55,000 crore by March, the board of the crisis-hit company has stated in its affidavit filed before the National Company Law Appellate Tribunal (NCLAT). While updating the progress of the resolution progress, the IL&FS board, led by Uday Kotak, said the ₹55,000-crore debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives.
Results Calendar
Adani Enterprises, Adani Wilmar, AGS Transact Technologies, Apex Frozen Foods, Apollo Micro Systems, Balkrishna Industries, Bharat Dynamics, BGR Energy Systems, Coal India, Dish TV India, Eicher Motors, Equitas Holdings, Future Retail, Gateway Distriparks, Graphite India, Grasim Industries, Greenply Industries, Ipca Labs, IRCON International, IVRCL, Jet Airways, KNR Constructions, Manappuram Finance, MEP Infrastructure, MTNL, Nagarjuna Fertilizers, Natco Pharma, NBCC (India), Panacea Biotec, PC Jeweller, PTC India, RailTel Corporation of India, Rossari Biotech, Repco Home Finance, Sadbhav Engineering, Shriram Properties, Spandana Sphoorty Financial, SpiceJet, Sterling and Wilson Renewable Energy, Vivimed Labs, and Zuari Global, among others.
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.