Corporate

TREND: As Lakshmi Vilas Bk readies for merger, shareholders lose big

Thursday, Nov 26, 2020 By Shreejit Nair and Anshika Kayastha MUMBAI - There were tell-tale signs of distress alright, but the jolt is still huge. While the depositors of Lakshmi Vilas Bank are being protected through its merger with the DBS Bank India, the domestic arm of Singapore's leading lender, shareholders were...

Source says accumulated loss caused Lakshmi Vilas Bk bond write-down

Thursday, Nov 26, 2020 --Source: Lakshmi Vilas Bk bond write-down due to accumulated losses--Lakshmi Vilas Bk accumulated loss 29.7 bln rupee on Sep 30--Merged Lakshmi Vilas Bk on breach of corrective plan limits --Lakshmi Vilas Bk tier-2 bonds clauses allowed write downBy T. Bijoy Idicheriah MUMBAI - Lakshmi Vilas Bank's accumulated losses, and...

Lakshmi Vilas Bank to be merged with DBS Bank India effective Friday

Wednesday, Nov 25, 2020 --Lakshmi Vilas Bank's shares to be written off, delisted from Fri--RBI: Lakshmi Vilas Bank branches to function as DBS Bank India from Fri--Post merger, moratorium on Lakshmi Vilas Bank to end from Fri--Lakshmi Vilas Bank depositors to be DBS Bank India clients from Fri--DBS Bank India to ensure...

RBI shoots down Muthoot Finance's dream to foray into AMC business

Tuesday, Nov 24, 2020 MUMBAI – The Reserve Bank of India has rejected Muthoot Finance Ltd's proposal to acquire IDBI Asset Management Co Ltd and IDBI Trustee Co Ltd from IDBI Bank, the gold financier informed the exchanges today. "Muthoot Finance Limited's request for a no objection certificate was not acceded to by the...

Two-wheeler retail sales likely lower on year this festival season

Thursday, Nov 19, 2020 By Kritika Arora MUMBAI – Retail sales of two-wheelers during this festival season are expected to be lower as compared to last year, despite an improvement from five to six months ago. "In this festival season, retail sales of two-wheelers may see a decline of 15-20% compared to last year," Vinkesh Gulati, president of...

Hindalco ups prices of aluminium products for seventh time in a row

Thursday, Nov 19, 2020 By Nikita Periwal MUMBAI – Hindalco Industries Ltd has raised the prices of its aluminium ingots, billets and wire rods for the seventh time in a row, trade sources told Cogencis. The company hiked prices by 2,250 rupees per tn, or more than 1%, effective today. After multiple revisions, prices of the company's...

Vedanta ups prices of aluminium ingots for sixth time in a row

Thursday, Nov 19, 2020 By Nikita Periwal MUMBAI - Vedanta Ltd has raised the prices of aluminium ingots for the sixth time in a row, this time by 2,250 rupees per tn or around 1.3%, with effect from today, trade sources told Cogencis. Companies generally link prices of their products to the three-month futures of...

NALCO ups prices of aluminium ingots for sixth time in a row

Thursday, Nov 19, 2020 By Nikita Periwal MUMBAI – National Aluminium Co Ltd has raised prices of aluminium ingots for the sixth consecutive time, trade sources told Cogencis. This is, in fact, the fourth price hike taken by the company in November itself.  The state-owned company has hiked prices by nearly 2% or 3,000...

FOCUS: Privatising PSU banks seems a tall order as valuations weak

Wednesday, Nov 18, 2020 By Tushar Chakrabarty and Sagar Sen NEW DELHI – "The worst is behind us." Over the last few years, numerous public sector bankers have used these words to express confidence in the robustness of the sector. How much of this is out of conviction is, however, up for debate. The fact remains...

Hindalco raises prices of aluminium products for sixth time in row

Wednesday, Nov 18, 2020 By Nikita Periwal MUMBAI – Hindalco Industries Ltd has raised the prices of its aluminium ingots, billets and wire rods for the sixth time in a row, trade sources told Cogencis. The company hiked prices by 1,750 rupees per tn, or more than 1%, with effect from today.    After multiple revisions, prices of...


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