Moneycontrol Bureau12:40 pm Suzlon gets more funds: Wind turbine maker Suzlon Group today said it has received an additional credit facility of Rs 2,300 crore above the existing working capital lines (of Rs 4,300 crore) to meet its requirements for execution of projects.
Suzlon Group CFO Kirti Vagadia said: "The additional working capital facilities sanctioned by our bankers will help fuel Suzlon's business grwoth and enable us to ramp up volumes rapidly...it will also enable us to capitalise on opportunities in renewable sector in India."12:20 pm IDBI Bank's fund raising: Public sector lender IDBI Bank it will raise Rs 3,771 crore instead of an earlier plan of raising Rs 2,800 crore through qualified institutional plans (QIP) route. "Board of Directors of the bank has approved revising the QIP issue size from Rs 2,800 crore approved by the Board on November 04, 2015 to Rs 3,771 crore, in line with the Government of India's approval dated December 30, 2015," IDBI said in a BSE filing.
Also read - Urban consumption, roads, defense themes for 2016: Jaipuria12:00 pm Market Check
Equity benchmarks remained under pressure in noon trade with the Sensex down 61.29 points to 24711.68 and the Nifty falling 18.65 points to 7518.15, tracking weak Asian cues.
The market breadth was also in favour of declines with (decline:advance ratio) 1320:961.Wockhardt tanked 11 percent after 62,555 bottles of Azithromycin tablets manufactured by company are being recalled by PD-Rx Pharmaceuticals Inc in the US market. Antibiotic Azithromycin is used for treatment of bacterial infections.
Major Asian stock markets struggled to hold onto their morning gains Friday, despite a positive finish from Wall Street overnight.
In another late spate of sell-offs, the Shanghai composite down 3.97 percent. The ASX 200 closed down 16.58 points, or 0.34 percent, at 4,892.80, after trading at a session high of 4,997.10 in the morning.
South Korea's Kospi also erased gains to close down 21.14 points, or 1.11 percent, at 1,878.87 while Japan's Nikkei 225, which was initially up by as much as 1.77 percent, fell into negative territory, finishing 93.84 points, or 0.54 percent, lower at 17,147.11.
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