Indian Overseas Bank (IOB) has sold a staggering ₹11,500 crore worth of Non-Performing Assets (NPAs) to Asset Reconstruction Companies (ARCs). This strategic transaction is aimed at significantly reducing the burden of bad loans and strengthening the bank’s profitability. IOB is following the ARC route IOB, a prominent public sector lender, had earlier announced its intention …
IRB Infrastructure Developers Ltd and IRB Infrastructure Trust reported a 19% year-on-year (YoY) growth in toll revenue for December 2024. The total collections reached ₹580 crore, up from ₹488 crore in December 2023. This was seen across various projects in IRB’s portfolio, which spans 12 states across India. Breakdown of Project Contributions The Mumbai-Pune Expressway …
Vodafone Idea Limited (VIL) raised ~₹1,910 crore through a preferential allotment of equity shares to its promoters, Omega Telecom Holdings Pvt. Ltd. and Usha Martin Telematics Ltd. The telecom giant issued 1,69,32,18,361 equity shares at ₹11.28 per share, including a premium of ₹1.28 per share. Of the total, Omega Telecom received 1,08,45,94,607 shares, while Usha …
Pharmaceutical company Lupin Ltd. has announced receiving tentative approval from the U.S. Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Ivacaftor oral granules. This approval covers strengths of 25 mg, 50 mg, and 75 mg per unit dose packet, making Lupin the exclusive first-to-file applicant for this product. This exclusivity …
Adani Total Gas Ltd. announced on January 9, 2025, that it will see a 20% increase in its allocation of administered price mechanism (APM) gas. The change, confirmed by GAIL (India) Ltd., will take effect from January 16, 2025. According to the company, this increase is expected to help stabilise retail gas prices for consumers. …
Fabtech Technologies IPO opened for subscription on January 3, 2025 and ended on January 7, 2025. It was a book-built issue of ₹27.74 crore. The issue was a fresh issue of 32.64 lakh shares. The Fabtech Technologies IPO price band was set at ₹80 to ₹85 per share. On Day 3 of subscription, January 7, …
GTPL Hathway Limited has reported its financial results for the quarter ending December 31, 2024. Post the announcement, on January 10, 2025, GTPL share price opened at ₹145.00, down from its previous close of ₹146.52. At 10:19 AM, the share price of GTPL was trading at ₹135.46, down by 7.55% on the NSE. Notably, the stock touched …
Senco Ltd has posted its business update for Q3 and the first nine months of FY25. On January 10, 2025, Senco share price opened at ₹1,120.00, down from its previous close of ₹1,127.55. At 9:50 AM, the share price of Senco was trading at ₹1,082.80, down by 3.97% on the NSE. Industry Update The company stated that …
Laxmi Dental IPO is set to launch its IPO on January 13, 2025. It is one of the anticipated upcoming IPOs in India. Here are the key details to note about the Laxmi Dental IPO. Key Details of the IPO to Note Open and Close Dates: Laxmi Dental IPO will open for subscription on Monday, January 13, 2025, …
On Jan 10, 2025, Godrej Properties shares fell ~3% and touched the day low of 2427.15 at 12:30 PM, after opening at 2500.00. The fall in Godrej Properties shares came after the company announced that it had acquired ~24 acres of land in Indore. Godrej Properties Cementing Position in Indore Godrej Properties Limited (GPL) in the exchange …
