Lakshmi Vilas Bank: The lender plans to raise up to Rs 1.5 billion to finance business growth and increase foreign participation by up to 74 percent.
Vodafone idea: Telecoms regulator Trai gave Vodafone Idea additional time until September 8 to respond to its notice of demonstration cause on the priority plan, after the company sought more time to respond. approved a plan to raise up to Rs 25,000 crore through a combination of equity and debt instruments to keep the company afloat.
Dependency Industries: The company unveiled a detailed plan to split its oil-to-chemicals business on Sunday, following a proposal announced in April and preparing the unit for a possible stake sale. The so-called settlement scheme sets out the details of the proposed move to spin off all of its oil-to-chemical assets into a separate unit.
OSE: In an attempt to optimize its costs, the State Bank of India has planned a voluntary retirement plan (VRS) under which some 30,190 employees are eligible.
Sterling and WilsonSolar engineering company Sterling and Wilson Solar announced that it has received orders worth AUD 300 million (Rs 1,600 crore) for two large solar projects in Australia.
Tata Steel: Tata Steel’s production level has now recovered to 100 percent as the company sees a revival in domestic demand in the current quarter led by a good rural and monsoon economy.
PVR: Multiplex major PVR has deferred its capex plans in an attempt to control costs as the company prepares for a significant impact on its profitability in the current fiscal year due to the ongoing coronavirus pandemic.
HDFC: Leading housing finance company HDFC said it has approved mortgage loans of more than 47 billion rupees to more than 2 lakh from first-time home buyers under the government’s Credit Linked Subsidy Program (CLSS). Mortgage lender HDFC said it will raise up to Rs 5,000 crore by issuing bonds on a private placement basis.
Hinduja Global Solutions (HGS): The company has recorded a 21.7 percent increase in consolidated net profit to Rs 49.2 crore for the quarter ending June 2020.
GE T&D India: GE T&D India, a leading player in the power transmission and distribution business, has requested shareholder approval to double the borrowing limit to Rs 1 billion.
BPCL: State-owned Bharat Petroleum Corp has offered its employees stock options at a third of the market price, as the company seeks to reward staff before its privatization.
RattanIndia Power: RattanIndia Power’s consolidated net loss was reduced to Rs 450.78 crore in the June 2020 quarter. The company’s total revenue stood at Rs 268.07 crore in the June 2020 quarter, significantly lower versus Rs 613.85 crore a year ago.
NLC India: NLC India reported a 21 percent increase in consolidated earnings to Rs 343.48 crore for the quarter ended June 30. Consolidated revenue increased to Rs 3,065.80 crore in the quarter under review, from Rs 2,330.69 crore in the prior year period.
Bank of South India: The private sector South Indian Bank said its board approved raising up to Rs 1,250 crore through a combination of equity and debt instruments.
IDFC First Bank: IDFC First Bank said its part-time non-executive chairman, Rajiv B Lall, has resigned from the lender’s board for health reasons.
PSU Banks: Moody’s Investors Service downgraded the long-term local and foreign currency deposit ratings of Bank of Baroda, Bank of India, Canara Bank and Union Bank of India to Ba1 from Baa3.
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