The company generated surplus cash of Rs 421 crore during the quarter which led to further deleveraging and consequently its net debt at the end of the quarter stood at Rs 2,259 crore.
ICICI Bank stock is seen get a boost from its subsidiaries that are doing reasonably well
Anna Ilyina, Division Chief of IMF Monetary and Capital Markets Department, said Wednesday that bolstering the level of capitalisation was one of the recommendations of the Financial Sector Assessment Programme (FSAP) for India.
The bank is pricing about 62 million new shares at 936 rupees each after earlier setting a 930-936 rupees indicative range, putting the total deal at 58 billion rupees ($901 million), said IFR, a Thomson Reuters publication.
Yes Bank last week had informed about raising Rs 4,906.65 crore (USD 750 million) in Qualified Institutions Placement (QIP) mode.
The index will measure the performance of the subsequent 50 largest index-eligible stocks outside the S&P BSE Sensex 50.
The rating agency said the pace of new non-performing loan creation is likely to abate somewhat over next 12 months.
The Sona Group is looking to end its 32-year long partnership with JTEKT Corporation by selling out its 25 percent stake in flagship company Sona Koyo Steering Systems to the Japanese partner for roughly Rs 575-625 crore, reports the Economic Times today.
Ajay Srivastava of Dimensions Consulting told CNBC-TV18 that the economy is likely to contract for next few quarters and political agenda will rule the global markets.
Power Grid has kept a check on its operational costs by introducing automation in various operations, says Jha. He says the margins are cyclical in nature and may not sustain at current levels in the next quarter.
"Capital adequacy at India's state banks remains a key theme against deteriorating asset quality and weak earnings, with some banks at risk of breaching their capital triggers," the agency said in a report.
On the timeline set for commissioning the Kurukshetra project, IS Jha, CMD of Power Grid said, first phase will certainly be commissioned by July-August this year.
Capital market regulator SEBI cleared a proposal directing top 500 listed companies to put in place a 'dividend distribution policy', amid concerns that firms were reluctant to share extra profits with investors
In an interview with CNBC-TV18, RK Nayak, Chairman & Managing Director (CMD) of Power Grid said the company will continue to report steady numbers in the coming quarters.
Analysts polled by CNBC-TV18 say strong commissioning and capitalisation may drive earnings this quarter. Capitalisation is seen at Rs 6,500 crore given robust capex in the last 2-3 years. The nine-month capitalisation aggressive was at Rs 16,700 crore. However, weakness in telecom, consultancy business may continue.
The stock PC Jeweller is excluded on account of completion of two years in the index, as per the index methodology.
In two trading sessions, the company has now jumped 15 percent. Shares of the company on Thursday surged ten percent to touch its 52-week high and upper circuit level of Rs 473.55.
Software major Tata Consultancy Services today became the country's most valued firm with a market capitalisation of Rs 2.77 lakh crore.
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