Elecon Engineering secures order worth ₹51.41 crore, shares up
Elecon Engineering Company Limited’s shares were up 1.85 per cent after the company bagged a contract worth ₹51.41 crores from ArcelorMittal Nippon Steel India Limited (AMNS). This contract encompasses the supply and supervision of a Pipe Conveyor System to be deployed at AMNS’s Hazira Plant located in Gujarat, India. Also read: Elecon Engineering initiates arbitration […]
Equipp Social Impact Tech promoters to offload 92.78 lakh shares
BSE-listed Equipp Social Impact Technologies Ltd has launched an offer for sale (OFS) allowing its promoter group to offload 92.78 lakh shares at a floor price of ₹26.40 a piece. The base size of the offer represents nine percent of the total paid-up equity share capital, The seller may also offload an additional 20.61 lakh […]
Shyam Metalics acquires Mittal Corp Limited for ₹351 crore
Shyam Metalics and Energy Limited (SMEL), completed the acquisition of Mittal Corp Limited through its wholly owned subsidiary, Shyam Sel and Power Limited for ₹351 crore. The acquisition involves the establishment of two manufacturing facilities, Unit I and Unit II, in the state of Madhya Pradesh. Unit I, spanning 17 acres, is dedicated to the […]
Markets continue to fall on weak global trends, soaring crude oil prices
Equity benchmark indices fell in early trade on Friday due to weak trends in global markets and soaring crude oil prices. Foreign fund outflows also weighed on investor sentiments. Falling for the third day running, the 30-share BSE Sensex fell 320.63 points to 65,308.61. The Nifty declined 106 points to 19,518.70. Among the Sensex firms, […]
IndusInd Bank may get added to MSCI index on higher foreign room
With foreign room crossing 15 per cent, IndusInd Bank will be eligible for inclusion in indices that have a large amount of passive tracking assets, said analysts. The bank’s foreign shareholding has decreased to 62.61 per cent for the quarter ended September, meeting the minimum headroom requirement of 15 per cent for global index inclusion. […]
FPI remittances come under taxman’s lens
Foreign portfolio investors (FPIs) have received a slew of notices on foreign remittances made outside India under Section 133 (6) of the Income Tax Act, said two people in the know. While FPIs have received such notices in the past, the number has gone up significantly this year. In a first, tax authorities have asked […]
ESAF Small Finance Bank gets SEBI nod for IPO
Esaf Small Finance Bank Ltd has received final observation from Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company had re-filed preliminary IPO papers with SEBI in July 2023. The IPO includes a fresh issue up to ₹486.74 crore and an offer for sale of up […]
Govt to sell up to 7% shares in HUDCO
The government on Tuesday said that it will divest up to 7 per cent of its equity in Housing & Urban Development Corporation (HUDCO) on October 18-19. At the floor price of ₹79, the government will get ₹553 crore. The floor price shows 12 per cent discount on Tuesday’s closing price of ₹89.92. With this […]
MCX faces teething trouble in new software launch
The launch of the new commodity derivatives platform by MCX faced teething-trouble with connectivity issues, delay in price updates and receiving trade confirmation. Sensing an opportunity to attract trading volumes, the rival National Stock Exchange launched 13 new commodity derivatives contracts including gold and base metals on Monday. With this launch, NSE offers 28 products […]
HDFC Bank trades weak ahead of Q2 numbers
– Shares of industry leader HDFC Bank opened lower today and were trading 0.4-0.5 per cent down, ahead of the lender’s Q2 financial results, set to be declared post market hours on Monday. HDFC Bank and Federal Bank are kick-starting the Q2 results season for the banking sector. As per provisional numbers declared so far, […]