2020-09-15 06:23:09
Market News & Update
ICICI Bank: Granted exemption by the Reserve Bank of India, from the Banking Regulation Act, 1949, with regards to shareholding above 30% in ICICI Lombard and ICICI Prudential. The exemption is for a period of three years, until September 2023. The exemption may permit both subsidiaries to consider strategic options such as mergers, acquisitions or capital raise which have the potential to reduce the bank's shareholding. The bank also said there will be no impact on the current distribution arrangement. The above exemption would facilitate compliance with rules if the proposed acquisition of another general insurance business made by ICICI Lombard is consummated and would result in the bank's shareholding in ICICI Lombard drop below 50%.
Indiabulls Housing Finance: Raises Rs 682.87 crore through the QIP issue which was closed on Monday. The issue price of Rs 196.37 per share is a 5% discount to the floor price.
Central Bank of India: Reduced MCLR by 5 basis points across various tenors from September 15. One year MCLR now at 7.10% and one month MCLR at 6.55%.
Mindspace Business Parks REIT: To raise up to Rs 500 crore via NCDs.
Motherson Sumi Systems: Allotted NCDs worth Rs 2,130 crore on a private placement basis.
G.E. Shipping: Signed a contract to buy a second-hand gas carrier. The Japan-built vessel is expected to join the company’s fleet in the third quarter of FY21.
Gujarat Gas: CARE Ratings upgraded long-term and short-term bank facilities worth Rs 2,000 crore to CARE AA+ from CARE AA, with outlook remaining stable.
Take Solutions: Initiated the liquidation process of its German arm due to Covid-19 impact.
Nifty Earnings Today: Vedanta
Non-Nifty Earnings Today: Allcargo Logistics, Future Enterprises, ITD Cementation, Kalyani Forge, Max India, MEP Infra, National Fertilisers, P&G Health, Sterling & Wilson Solar, VA Tech Wabag, Zee Media
223 views03:23