Hero Motocorp: The country’s largest two-wheeler maker reported 22 per cent dip in total sales at 4,53,879 units in August as compared with same month last year. The company had dispatched 5,84,456 units to its dealerships in August 2020.
Coal India: The state-owned miner produced 42.6 million tonnes of coal in August, registering an increase of 14.6 per cent over the corresponding month of the previous fiscal. The rise in production comes at a time when there are reports of thermal power generation units across the country grappling with coal shortages.
Kotak Mahindra Bank: The private lender said it has completed the sale process of over an 8 per cent stake in Airtel Payments Bank to Bharti Enterprises for Rs 294.80 crore.
Axis Bank: The third largest private sector lender by assets raised USD 600 million from offshore investors by selling sustainable additional tier-1 (AT1) bonds at a coupon of 4.1 per cent, sources said. It launched the issue of the perpetual bonds earlier in the day with the initial pricing guidance at 4.4 per cent.
State Bank of India: The largest PSU lender said it has raised Rs 4,000 crore through Basel compliant additional tier 1 (AT1) bonds, offering a coupon rate of 7.72 per cent. The issue garnered overwhelming response from investors with bids in excess of Rs 10,000 crore received against a base issue size of Rs 1,000 crore.
Wipro: The IT services major announced the appointment of Mohammed Areff as the Country Head and Managing Director for its Middle East operations.
Vedanta: Anil Agarwal led mining firm said its board has approved an interim dividend of Rs 18.50 per equity share for FY2021-22, amounting to Rs 6,877 crore. The record date for the purpose of payment of dividend September 9. The interim dividend will be paid within stipulated timelines as prescribed under law.
Power Grid Corporation of India: The state-owned transmission company will seek shareholders’ approval to raise up to Rs 6,000 crore through private placement of bonds or debentures at its annual general meeting later this month.
NTPC: The state-run power giant said its arm NTPC REL has received a letter of award (LoA) for 325 MW solar projects in Madhya Pradesh from Chief Minister Shivraj Singh Chauhan.
NMDC: The state-owned metal producer said its iron ore production surged over 44 per cent to 15.02 million tonnes (MT) in April-August 2021. The company’s iron ore output was 10.42 MT in the same period last fiscal.
Ashok Leyland: The
Group’s flagship firm said its Chief Operating Officer Nitin Seth is leaving after serving 11 years to pursue an alternate career outside the company. Seth successfully led a strong team in building Ashok Leyland’s light commercial vehicle (LCV) business as well as other businesses.
NHPC: The state-run hydro power giant will seek its shareholders’ approval to raise borrowing limit by Rs 10,000 crore to Rs 40,000 crore in the annual general meeting on September 29, 2021. The proposal to increase borrowing limit of the company from Rs 30,000 crore to Rs 40,000 crore is listed on the agenda of the AGM.
Minda Corporation: The auto components major said it has entered into definitive agreements for acquiring 26 per cent equity stake in electric vehicle (EV) charging solutions startup EVQPOINT Solutions, through its wholly-owned arm Spark Minda Green Mobility Solutions.
Mahindra & Mahindra Financial Services: The NBFC said it has appointed Raul Robello as its new chief operating officer with immediate effect. Robello’s appointment comes after the movement of Rajnish Agarwal to Mahindra Rural Housing Finance.
Research Company: The research based company said it will seek shareholders’ approval to raise up to Rs 1,800 crore through various modes, including issue of equity shares and securities.
Equitas Small Finance Bank: Google Pay users can take the benefits of fixed deposit rates offered by Equitas Small Finance Bank by booking FD on the payments platform without opening a bank account. The bank said it has been offering this initiative by connecting APIs built by fintech infrastructure provider Setu for Equitas Bank.
Hindustan Zinc: The
Group company said it has extended the planned shutdown of one of the roasters at Chanderiya lead zinc smelter in Rajasthan, which would result in production loss of 25,000 tonnes of zinc.
ELGI Equipments: The Coimbatore-based air-compressor manufacturer said it has entered into a partnership with NASSCOM.
IIFL Wealth and Asset Management: The financial Advisory firm said it has appointed Sanjay Wadhwa as the Chief Financial Officer with effect from September 2.
Essar Shipping: Markets regulator Sebi on Wednesday levied monetary fine on the compliance officer of Essar Shipping for failing to administer the code of conduct as prescribed under insider trading norms.
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