Adani Enterprises
State-owned Coal India Limited has canceled its maiden
tender for short-term import of coal in which Adani Enterprises has emerged as
the lowest bidder, reported PTI. Adani Enterprises has quoted around Rs
17,000-plus per tonne for importing 2.416 MT of coal. Earlier, it was selected
for the short-term shipment. CIL in its board meeting held on July 8, decided
to cancel the short-term tender of 2.416 million tonnes.
Also Read | What is Insolvency and Bankruptcy Code 2016?
IndusInd Bank
The board of directors of the private sector lender has
approved the raising of funds up to Rs 20,000 crore through debt securities on
a private placement basis. The fundraising is subject to the approval of the
members of the bank.
Also Read | China extends loans for developers to end mortgage boycott
Bank of Maharashtra
The Pune-based public sector lender’s net profit surged
117.24% year-on-year to Rs 451.9 crore in the quarter ended June on the back of
improvement in its net interest margins (NIMs). It had reported a net profit of
Rs 208.01 crore during the year-ago period. Its net interest income (NII) grew
19.9% in the reported quarter to Rs 1,685.7 crore from Rs 1,405.9 crore in June
2021 quarter.
Also Read | What is Insolvency and Bankruptcy Code (Amendment) Bill 2021?
Larsen and Toubro
L&T Realty said it has signed agreements to jointly
develop projects worth Rs 8,000 crore in the Mumbai region as part of its
expansion plan. “The company has entered into a binding agreement to
jointly develop projects in South Mumbai, Western Suburbs, and Thane worth Rs
8,000 crore, with a development potential of 4.4 million square feet,” the
company said in a statement. It did not disclose the name of companies with
whom it has signed agreements.
Also Read | Microsoft to Launch Windows 12 in 2024
Alok Industries
The textile company reported a consolidated loss of Rs
141.58 crore for the quarter ended June 2022, which increased from a loss of Rs
97.65 crore in the year-ago period. The company cited higher raw material
costs, and power and fuel costs. Revenue grew significantly by 56% year on year
to Rs 1,971.52 crore in the April-June quarter of fiscal 2023.
Also Read | Week ahead: Earning reports, rupee movement, crude price to weigh on Sensex, Nifty
Tube Investments of India
The company through its subsidiary TI Clean Mobility
(TICMPL) bought a 65.2% stake in IPLTech Electric (IPLT), through a combination
of purchase of equity shares from the founders and other existing shareholders
of IPLT. The cost of acquisition is around Rs 246 crore. IPLT is a startup
engaged in the manufacturing and sale of electric heavy commercial vehicles.
Additionally, the company decided to further invest around Rs 150 crore in
subsidiary TICMPL and provision of inter-corporate deposit of an amount of up
to Rs 100 crore to TICMPL.
Also Read | Week in review: Sensex, Nifty slump as inflation concerns weigh on sentiment
Nelco
The company posted a 7.8% year-on-year growth in
consolidated profit at Rs 4.72 crore for the April-June quarter of fiscal 2023,
on the back of a strong topline. Revenue surged by 48% to Rs 81.68 crore during
the reported quarter year-on-year.
Also Read | GST rate hike: List of items that will become more expensive from July 18
Excel Realty N Infra
The company board will hold a meeting on August 4 to
consider the sub-division of the face value of Equity shares, and the issue of
bonus shares.
Also Read | What happens if Elon Musk refuses to comply with Delaware court’s order to buy Twitter
Surya Roshni
The company secured orders worth Rs 91.27 crore for API-5L
grade 3LPE coated pipes from Bharat Gas Resources. The contract will be
executed within 12 months.
