SBI
State Bank of India (SBI), the largest lender in India, is gearing up to commence its rupee bond issuances for the fiscal year 2023-2024 by the end of June or early next month, according to sources cited in a recent report. The bond sale is expected to reach ₹10,000 crore, comprising a base size of ₹3,000 crore and a green shoe option of ₹7,000 crore, added the report.
MRF
MRF, a prominent player in the Indian stock market, achieved a remarkable feat on Tuesday, June 13, by becoming the first stock to surpass the significant milestone of ₹1 lakh per share. Beginning the day at ₹99,500 on BSE, an increase from the previous closing price of ₹98,939.70, MRF soared to an all-time high of ₹1,00,300 during morning trade.
Larsen & Toubro
Larsen & Toubro (L&T), a prominent player in the hydrocarbon industry, has recently obtained a prestigious offshore project from a renowned international client. This significant achievement is set to propel L&T’s business to new heights.
Granules India
In a recent announcement, Granules India Limited revealed that the US Food & Drug Administration (FDA) has granted approval to its Abbreviated New Drug Application (ANDA) for Metoprolol Succinate Extended-Release Tablets USP. The approved tablets come in four variants with strengths of 25 mg, 50 mg, 100 mg, and 200 mg. This news was disclosed by the company through an official exchange filing.
Adani Group
Adani Group, a prominent Indian conglomerate, is currently in discussions with global banks and lenders to refinance a loan facility of up to $3.8 billion. The loan was initially obtained for the acquisition of Ambuja Cements Ltd. in the previous year. Sources familiar with the matter revealed that Adani is considering converting the original loan into a longer-term debt and has begun individual talks with banks to explore this possibility. The discussions are confidential and have not been publicly disclosed.
Inox Wind
Yesterday, Inox Wind Energy shares witnessed a significant surge of more than 13 percent as the board approved the merger with Inox Wind, pending approval from shareholders and creditors of both companies. Under the merger terms, Inox Wind shareholders will receive 158 shares of Inox Wind, valued at Rs 10 each, for every share they currently hold in Inox Wind Energy. Additionally, they will also receive 158 share warrants of Inox Wind at an issue price of Rs 54 each in exchange for 10 share warrants of IWEL priced at Rs 847.
HDFC Bank
The highly anticipated merger between India’s most valuable lender and the nation’s largest mortgage financier is rapidly approaching its final stage. This landmark merger has the potential to create the world’s fifth-most valuable bank, captivating the attention of investors worldwide. As the merger enters its last crucial step, stakeholders eagerly await the announcement of the “record date” for the swapping of shares between Housing Development Finance Corp. (HDFC) and HDFC Bank Ltd., expected to occur within the next three weeks. With the merged entity projected to operate under the HDFC Bank ticker by July 20, this process, initiated in April 2022, will conclude, reshaping the banking landscape in India.
HFCL
HFCL Limited, a prominent telecom gear manufacturer, has recently announced its successful bid for a contract valued at Rs 80.92 crore from the Delhi Metro Rail Corporation (DMRC). The contract entails the establishment of a cutting-edge Fibre Optics Transmission System for the Delhi Metro Rail Project, as stated in an official release.
For more of the Latest News, Click Here
