Moneycontrol Bureau12:50 pm Interview: Satin Creditcare has raised money to last for 18-24 months. Company's tier I capital goes up to 22 percent with this fund infusion.
"We have a very robust growth based on this tier I capital. So, our tier I capital with this infusion goes up to about 22 percent", HP Singh, Founder and MD of Satin Credit Care told CNBC-TV18.
Talking about margins, he mentioned, "There will be slight improvements. Under this capital infusion, definitely we will look at our net interest margins (NIMs) rising".
12:30 pm Interview: Orient Cement will be acquiring 74 percent in Bhilai Cement from JP Associates at an enterprise value of Rs 1450 crore, which works out to USD 110 a tonne. The acquisition is in line with the company’s long-term strategy of reaching a capacity of 15 million tonnes from 5 million tonne by 2020, said Deepak Khetrapal, MD & CEO, Orient Cement in an interview to CNBC-TV18. To complete the acquisition, the company will bring in equity along with debt, he said, adding that the company plans to raise equity to keep the debt-equity ratio at around 1.5-1.6 times.Don't miss: Idea looks to doubling data revenue to more than 50% in 4 years
The market is slipping away as the Sensex is down 107.87 points or 0.4 percent at 27998.34 and the Nifty is down 36.40 points or 0.4 percent at 8673.15. About 1199 shares have advanced, 1284 shares declined, and 191 shares are unchanged.
Tata Steel, Tata Motors, GAIL, Lupin and Axis Bank are top gainers while Asian Paints, Cipla, HDFC, HUL and Bajaj Auto are losers in the Sensex. IT, Capital Goods, Oil & Gas indices are under pressure
Domestic passenger car sales rose 15.14 percent to 1,95,259 units in September, from 1,69,590 in the same month last year.
Total passenger vehicle sales were up 19.92 percent at 2,78,428 units in September, as against 2,32,170 a year ago.
According to figures released by the Society of Indian Automobile Manufacturers (SIAM) today, motorcycle sales in the country grew 16.33 percent during the month to 11,86,770 units, from 10,20,204 in the corresponding month last year. Total two-wheeler sales moved up 21.59 percent to 18,68,993 units last month, from 15,37,104 in September 2015.
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