Trending Stocks: Tata Motors, IIFL, Hero MotoCorp and others in news today
- Government ordered an independent probe into the Tata Nexon fire incident
- IIFL Finance is looking to raise debt capital of Rs 5,000 crore by issuing bonds
- Hero MotoCorp will increase prices of two-wheelers by up to Rs 3,000
The government has ordered an independent probe into a Nexon electric vehicle (EV) catching fire in Mumbai, said a senior Road Transport and Highways Ministry official. "We have ordered an independent probe to investigate the Nexon EV fire incident," the official told PTI. The Centre for Fire Explosive and Environment Safety (CFEES), Indian Institute of Science (IISc), and Naval Science & Technological Laboratory (NSTL), Vishakhapatnam have been instructed to investigate the circumstances that led to the incident and also suggested remedial measures. Responding to the incident, Tata Motors said it is also investigating the incident of its Nexon EV catching fire in Mumbai.
Adani Group chairman Gautam Adani and his family have pledged to donate Rs 60,000 crore to various social causes, to mark his 60th birthday. The corpus will be administered by the Adani Foundation. The donation will be handled by the Adani Foundations for strengthening healthcare, education, and skill development, Adani told Bloomberg in an interview.
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IIFL Finance is looking to raise debt capital worth Rs 5,000 crore by issuing bonds on a private placement basis, the company said on Thursday. The bonds will be offered via public issue, subject to regulatory and statutory approvals, IIFL said in a regulatory filing. "The board of directors of the company at their meeting held today, June 23, 2022, approved the raising of funds by way of issuance of secured redeemable non-convertible debentures with the shelf limit of Rs 50,000 million, in one or more tranches," it added.
Dish TV India Limited
The Bombay High Court dismissed the appeal filed by a Dish TV promoter entity against Yes Bank, the largest shareholder in the direct-to-home company, clearing the path for the latter to vote at the extraordinary general meeting (EGM), to be held on June 24. A bench headed by Justice GD Patel and Justice MJ Jamdar said World Crest Advisors, the Dish TV promoter group entity, had not made any case in its plea against YES Bank and was hence dismissing the appeal filed by it. The appeal by World Crest was filed in response to an order passed by the Bombay High Court last week, rejecting its interim application to restrain Yes Bank from voting at EGM.
India’s largest two-wheeler maker Hero MotoCorp on Thursday said it will increase prices of motorcycles and scooters by up to Rs 3,000 from July 1 to partially offset the steadily growing overall cost inflation, including commodity prices. In a regulatory filing, the company said, "The exact quantum of increase will be subject to the specific model and market". The price revision has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices, the company added.
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ITC Limited’s sales through the e-commerce channel in the previous financial year increased over three times over compared to fiscal 2019-20, taking the channel salience to 7%. In its latest annual report, the company revealed that it collaborated with leading e-commerce platforms on all aspects of operations, including category development, marketing, supply chain, and customer acquisition.
Debt-ridden telecom operator Vodafone Idea will seek shareholders' approval to raise Rs 436 crore from its promoter group Vodafone in an extraordinary general meeting to be held on July 15, the company said in a regulatory filing on June 23.