63 moons technologies ltd, formerly known as Financial Technologies, said the Directorate of Enforcement, Mumbai has requested the National Securities Depository Ltd. and Central Depository Services (India) Ltd to freeze the Demat Account of the company maintained with them. In India, shares and securities are held electronically in a dematerialized (or “Demat”) account, instead of […]
Kotak Mahidra Bank said it has agreed to acquire BSS Microfinance Pvt Ltd for Rs 139.2 crore in cash. BSS Microfinance Pvt Ltd is an non-banking micro finance institution. It exends microfinance to poor rural and semi urban women, primarily for income generating activities, and also for life quality improvement activities. As at June 30, […]
Home loan and housing finance company Dewan Housing Finance Co Ltd said it issued 2.12 crore shares to promoter Wadhawan Global Capital Pvt Ltd. as part of conversion of outstanding warrants. The warrants were issued in March after taking a payment of Rs 125 crore. The remaining Rs 375 crore has been paid upon conversion. […]
USFDA issued four observations about Cipla’s manufacturing facilities in Goa after conducting an audit, the company said. Cipla has three facilities in Goa. “The observations were primarily procedural in nature and the company has already responded to these observations,” said the pharma company. Further details were not given. The company said it will continue to operate their […]
The upcoming festive season, beginning October 1 is likely to register record-breaking sales, revenues, and highest ever purchase rate per minute for e-commerce giants as most people have deferred their holiday purchasing plans in anticipation of blockbuster offers, an ASSOCHAM survey-cum-analysis found. The Associated Chambers of Commerce and Industry of India (ASSOCHAM) interacted with about […]
Multiplex theatre group InoX Leisure Ltd said it has launched its new multiplex cinema theatre at Rangoli mall at Howrah, West Bengal today. The multiplex theatre has three screens with 830 seats. “By this new venture Inox is now present in 57 cities pan-India with 110 multiplexes. These multiplexes have 432 screens and total seating […]
Credit Rating agency Brickwork Ratings India Pvt Ltd. downgraded bonds issued by Indian Overseas Bank from A- to BBB+. It maintained its outlook on the bonds as negative. The downgrade has come in the context of rising bad loans on the bank´s balance sheet. Indian Overseas Bank is one of the worst affected banks as […]
Financial service provider Intellect iGTB, formerly part of Polaris, said its banking solution has been launched on the cloud using the software-as-a-service model. Software as a Service is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. It is sometimes referred to as “on-demand software” […]
Indraprastha Gas, the supplier of CNG and PNG in Delhi, has been authorized to construct the City Gas Distribution (CGD) network in Rewari in Haryana. Addressing the shareholders, Mr. Ravindran also gave an overview of future plans of the organization involving consolidation of its presence in existing areas as well as expansion in new geographies […]
Pharma Major Lupin Ltd said it received final approval from United States Food and Drug Administration for selling Memantine Hydrochloride extended-release capsules, a generic version of Allergan’s Namenda XR capsules. Namenda XR extended-release capsules are approved by the USFDA for the treatment of moderate to severe dementia of the Alzheimer’s disease. It does not cure […]
Yes Bank said it will raise up to Rs 2500 crore by way of debentures. This will comprise Rs 1,000 crore of unsecured redeemable long-term bonds and a green shoe option for an additional Rs 1,500 crores. The bonds will be sold via private placement. The bank had earlier got shareholder approval to raise up […]
Tata group’s ecommerce venture CLiQ has announced its first festive season offers by providing exciting deals, new launches, flash sales, best price offers and bumper prizes for its customers. “Tata CLiQ has earmarked 50% of its marketing budget for the one month long festive offer named ´Festober´ celebrations,” said the e-commerce website. Tata CLiQ will […]
Jet Airways has launched a new online shopping platform which will reward its users with its air miles that can be redeemed for booking flights later. The first partner in the venture is Flipkart, which will provide the back-end support. Points are earned every time a customer shop on the platform. The JPMiles accumulated by […]
Tube manufacturers Cubex Tubings Ltd said it received a contract worth Rs 23.5 crores to supply Cu NI tube to Oman Oil Refineries and Petroleum Industries Company. The goods have to be supplied within 36 months. “CUBEX”, founded in 1979, is a producer of copper and copper base alloy products. The company manufactures Tubes, Rods, […]
Mobile handset manufacturer LAVA International Ltd launched its new LAVA A97 with 4G access and 5 MP selfie camera at Rs 5,949. Lava A97´s wide range of specifications includes 5 inch screen of FWVGA resolution, 5MP rear and ‘selfie’ camera (both with LED flash), 4G VoLTE connectivity, etc. The smartphone is packed with new camera […]
Bank of India said it had revised its base rate from 9.70% to 9.65 %. The revised rate will be in effect from Friday. Base rate is the minimum interest rate that the bank charges. It is not allowed to issue loans below this rate to any of its customers. Bank of India is a […]
Real estate company Kalpataru Ltd said it will support ‘Hamara Station Hamari Shaan’, an initiative to beautify the railway premises in Mumbai. The project includes makeover of 36 Railway stations across Central and Western suburban lines in Mumbai between 2nd to 8th October 2016. It is a joint initiative of ‘Mumbai First’ and ‘Making A Difference’ […]
Cash-strapped Cyber Media India Ltd. said its sale of US unit TDA group will generate funds of $4.58 mln (30.43 crores). The deal for the sale of its wholly owned subsidiary TDA Group was announced yesterday. The company added that the subsidiary accounted nearly half of its revenue last year. Cyber Media has seen its […]
Training provider NIIT said it tied up with the University of Danang in Central Vietnam to embed its training programs in the University. Students may undergo a four-year bachelor degree program or a three-year associate degree program in information technology. University system will continue to teach the subjects such as language, science etc. to obtain […]
Nandan Denim Limited (NDL), a Gujarat- based fabric manufacturer, said it is planning to issue 50 lakh convertible warrants to foreign investors at Rs 200 each, aggregating to Rs 100 cr. “The company will be issuing 25 lakh fully convertible warrants each to Foreign Portfolio Investors, LTS Investment Fund Ltd and LGOF Global Opportunities Ltd […]
