SBI Cards and Payment Services
The company does not see the Reserve Bank of India’s move of tightening unsecured consumer loans having a big impact on the cost of funding in the current financial year.
Two promoter group entities in Adani Power Ltd acquired 2% additional stake in the company in a staggered manner since September through the open market. Following this, the cumulative shareholding of promoters has increased to 71.14%.
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Larsen & Toubro
Qatar tax authority has imposed a penalty of Rs 240 crore on the engineering major for the period between April 2016 and March 2018, amid the variation in the income declared by L&T versus the authority’s assessment.
Manish Vyas has resigned as the president of the communications, media and entertainment vertical, which is the largest vertical for the software major.
Ratings agency CRISIL has cut the company’s long-term rating to “AA-” from “AA”.Bank of Baroda
The state-owned lender has received approval from the capital raising committee to raise upto Rs 5,000 crore through tier-II bonds. It has further received consent to raise not more than Rs 10,000 crore through infrastructure bonds.
The Department of Telecommunications has slapped a penalty of Rs 107,000 on the telecom operator for violation of subscriber verification norms.
The Reserve Bank of India has approved the appointment of Arun Khurana as executive director of the bank for 3 years.
The US Food and Drug Administration has cleared the company’s formulations manufacturing facility in Telangana with zero observations following its inspection.
IDFC First Bank
The stock exchanges have given the consent for the proposed merger of parent IDFC with IDFC First Bank.
The realty developer has entered into an agreement with Ireo Residences and others to acquire 14.81 acres in Gurugram for Rs 597 crore. This transaction marks the company’s foray into the National Capital Region (NCR). The company is planning to primarily develop a luxury residential group housing project on this land parcel.
ESAF Small Finance Bank
The bank’s net profit for the quarter ended September surged by over 143% on year to Rs 140 crore. The total income increased by 36% on year to Rs 1,022 crore.
The company has received board approval to raise up to Rs 1,400 crore through a combination of equity and debt instruments.
The software major has been fined $7,522 by two tax authorities in the US for alleged evasion.
The company has won the bid for a tender to supply 10 diesel-electric locomotives from CFM Mozambique, and the order value is $37.68 million.
The company has signed a memorandum of understanding with ICAI to plan, design and renovate the buildings across various locations in India.