TVS Motor BSE 3.32 % Company: The auto company on Thursday reported a 16 per cent increase in total sales at 2,82,007 units in May. The Chennai-based company had sold 2,43,783 units in May 2016. Total two-wheeler sales during the month increased 15.6 per cent to 2,75,426 units
Bank of India: Weighed down by sticky loans and net losses, the state-run Bank of India has decided to go for one-time settlements (OTS) of loans with errant borrowers as one of the key recovery strategies. The lender, with a pile of non-performing assets running to Rs 52,045 crore, is ready to take the OTS route for all borrower segments, general manager SK Aggarwal told ET.
Coal India: State-owned Coal IndiaBSE 1.79 % produced 79 million tonnes (MT) of coal in the first two months of the ongoing fiscal, missing the target by 7 MT. Coal India (CIL) which accounts for over 80 per cent of domestic coal production is eyeing one billion tonnes of output by 2020. The company’s production target in April-May was 86.5 MT, CILBSE 1.79 % said in a BSE filing.
Reliance Communications: Fitch downgraded telecom operator Reliance Communications to junk grade saying loan default is a “real possibility” and red flagged its poor liquidity and excessive refinancing risk.
Adani Power: Rating company Crisil LtdBSE 0.26 % accused the Gautam Adani-led Adani PowerBSE 0.56 % (APL) of not providing it with details of operations while reaffirming its stable outlook and double B minus rating, three notches below investment grade, on Rs 6,559 crore of credit facilities.
Bharti Airtel: Bharti AirtelBSE 2.97 %, the country’s No.1 phone company , said it received approvals from the Securities & Exchange Board of India, BSE and the National Stock Exchange of India for its proposed merger with Telenor India.
L&T, Reliance Infra, ILFS and Jaiprakash Ventures: These companies are in the race for the Government of India’s ambitious Rs 10,000-crore project to build the Zojila tunnel connecting Srinagar and LehLadakh, two sources told ET.
HDFC: As part of greenfield expansion outside India, country’s largest mortgage lender HDFC LtdBSE 0.78 % has acquired a 15 per cent stake in Tanzania’s First Housing Finance for $1.5 million. First Housing Finance (Tanzania) is the first housing finance company in the country that still has to commence operations.
Hero Moto Corp: Hero MotoCorp (HMCL) said its total motorcycle sales grew 8.7 per cent to 6.33 lakh units in May 2017 over May 2016. The announcement was made after market hours on Thursday.