Kothari Products announced a 1:1 bonus share issue, causing a 7.4% stock rise to Rs 209.70. The issuance will be financed from free reserves, increasing authorized capital to Rs 61.50 crore. Shares surged 58.55% YoY.
Shares are likely to be offered at a floor price of Rs 809.7 apiece — a 6.4% discount to Paytm’s closing price of Rs 866
Despite improved liquidity and policy rate cuts by the central bank, banks have been slow to reduce lending rates for existing borrowers. MCLR-linked loan rates
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