Railway shares gain traction on rising government capex
While shares of Railtel Corp of India gained 15% on Monday, Texmaco Rail & Engineering surged 13%. Stocks such as Rites, BEML, Indian Railway Catering, and Rail Vikas Nigam gained between 3% and 5%.
Incremental CRR: As liquidity tightens, banks push CDs
The acceleration in the issuance of CDs — which are short-term debt instruments used by banks to raise funds —— comes after the RBI imposed an incremental Cash Reserve Ratio (ICRR) of 10% on the growth in bank deposits from May 19 to July 28.
Assembly polls raise loan waiver pitch, but impact may be minimal
Captains of the microfinance industry said that their borrowers have now become savvy and know that good repayment ensures a timely dose of loans when they require it the most. So, debt waiver announcements could only derail repayment temporarily and would not translate into default and significant escalation in credit cost.
India’s green power capacity could surpass 500 GW target: ISA DG Ajay Mathur
India is poised not only to achieve its ambitious target of 500-gigawatts renewable energy capacity by 2030 but also surpass it, driven by an anticipated decline in battery prices by 2025, according to Ajay Mathur, Director General of the International Solar Alliance (ISA). In an interview with PTI, Mathur, who has also been a member […]
Adani Cement set to improve profitability by 45-50% in 5 years, says CEO Ajay Kapur
The Adani group – through its buyout of ACC and Ambuja Cements – is the second largest manufacturer of cement in the country. It plans to double its existing capacity to 140 million tonnes in five years with an estimated capital expenditure of ₹47,000 crore.
Rajesh Lifespaces’ lenders invoke guarantees to recover dues
Rajesh Business & Leisure Hotels owes lenders, led by ICICI Bank, more than ₹621 crore. In March lenders had unanimously voted for the Rare Asset Reconstruction Co and Naman Group consortium to take over the company’s defunct hotel business in Mumbai and had filed a requisite proposal in the NCLT.
Vishnu Prakash IPO subscribed 87.8 times
The issues, which opened on August 24 for the public subscription, was priced in a band of ₹94-99. Choice Capital Advisors and Pantomath Capital were the book-running lead managers for the issue. – Our Bureau