Lakshmi Vilas Bank: The bank plans to raise Rs 1,000-1,100 crore through a share sale to institutional investors as the Chennai-based private sector bank looks to reap the interest of global financial institutions in India’s financial services sector, several people with direct knowledge of the matter told ET.
Bharti AirtelBSE 0.03 %, Idea Cellular: Leading mobile phone companies — Bharti AirtelBSE 0.03 %, Vodafone India and Idea CellularBSE 0.63 % — have reported a sharp sequential fall in their adjusted gross revenue (AGR) in the fiscal fourth quarter ended March, following another quarter of free voice and data services from Reliance Jio Infocomm.
PSU Banks: Finance Minister Arun Jaitley will meet heads of PSU banks on Monday to discuss the issue of non-performing assets (NPAs) and the steps being taken by them to expedite the recovery of bad loans which have crossed Rs 6 lakh crore.
Coal India: Muted coal demand and eroding profitability have forced Coal IndiaBSE 0.10 % to ‘production closure’ of 37 loss making underground mines in the current fiscal to save between Rs 800 crore to Rs 1000 crore annually.
Shriram TransportBSE 0.55 % Finance: The company will be revisiting its plans to raise Rs 5,000 crore through masala bonds after the Reserve Bank of India (RBI) tightened norms for masala bonds, paring the edge this instrument once enjoyed.
Tata Motors: The auto major said that its global wholesales including Jaguar Land Rover (JLR) declined by 1 per cent to 86,385 units in May 2017 over May 2016.
Cadila Healthcare: Zydus Group firm Cadila HealthcareBSE 2.25 % said its subsidiary Nesher Pharmaceuticals has received nod from the USFDA to market Nystatin topical powder used for treating skin infections in the US market.
Reliance Industries: Reliance Industries said it has commissioned a crystalisation train of the Para-xylene (PX) complex at Jamnagar, which makes it the world’s second largest producer of the chemical feedstock in the world.
PVR, Inox Leisure: The GST Council has decided on a two-slab structure for cinema tickets, whereby those costing less than Rs 100 would be taxed less at 18 per cent, while those above will attract tax of 28 per cent.
State Bank of India: Close on the heels of RBI’s policy action, country’s largest lender State Bank of India (SBI) has lowered interest rates by 10 basis points on home loans above Rs 75 lakh. The new rates are effective June 15.