COMPANIES & SECTORS


IANS 07 February 2023
Global credit rating agency Fitch Ratings on Tuesday said that Indian banks' exposure to the Adani group do not present any major risk to the banks' stand-alone credit profiles.   In a statement issued the credit rating agency said: "Fitch Ratings believes that Indian banks' exposure...

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Moneylife Digital Team 06 February 2023
Adani group companies have decided to prepay US$1.114bn (billion) as part of its commitment to reduce the overall promoter leverage backed by Adani-listed company shares ahead of its maturity of September 2024.   In a statement, Adani group says, "In light of recent market volatility...

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Moneylife Digital Team 06 February 2023
Uttar Pradesh (UP) power utility Madhyanchal Vidyut Vitran Nigam (MVVNL) has cancelled Adani group's bid to supply smart meters to the electricity distribution company (discom). However, government sources say that MVVNL has allowed re-bidding, media reports say.   Quoting sources, a...

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IANS 06 February 2023
The IL&FS Group has initiated its largest Interim Distribution pay-out till date in IL&FS Financial Services Limited (IFIN), an IL&FS Group company.   As part of the interim distribution, IL&FS Group will be paying a total of Rs 3,200 crore to IFIN eligible creditors, that is being...

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Moneylife Digital Team 06 February 2023
Hearing a recovery suit filed by 63 moons technologies ltd, the Madras high court (HC) says that its order of interim injunction against the Dewan Housing Finance Ltd (DHFL) promoters, its former top executives, credit rating agencies (CRAs), statutory auditor and debenture trustee...

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IANS 03 February 2023
Global credit rating agency Moody's Investors Service on Friday said a portion of Adani Group's planned capital expenditure is deferrable.   Moody's also said the adverse developments relating to the Adani Group - rapid decline in market value of the group company's shares- will...

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IANS 03 February 2023
Global credit rating agency Fitch Ratings on Friday said there is no immediate impact on its ratings of Adani Group entities and their securities following a "short-seller report" alleging malpractices.   Fitch Ratings also said it expects no material changes to its forecast cash...

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IANS 02 February 2023
The government on Wednesday announced to set up DigiLockers for the micro, small and medium enterprises (MSMEs), large businesses and charitable trusts.   Fin-tech services in India have already been facilitated by the digital public infrastructure including Aadhaar, PM Jan Dhan...

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IANS 01 February 2023
The Central government on Wednesday said that to further provide impetus to green mobility, customs duty exemption is being extended to the import of capital goods and machinery required for manufacture of lithium-ion cells for batteries used in electric vehicles—a move hailed by the EV...

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While the affordable housing segment, the backbone of the housing sector, has witnessed a poor performance, the country's residential real estate sector looks to Budget 2023-24 to boost the country's flagging affordable housing segment.   ANAROCK's consumer sentiment survey finds...

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Fin-tech platform BharatPe suffered huge losses to the tune of Rs5,610.7 crore in FY21-22, due to a one-time non-cash expense related to change in fair value of compulsory convertible preference shares (CCPS).   In FY20-21, the company had posted a net loss of Rs1,619.2...

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The Supreme Court on Tuesday extended the protection granted to Yes Bank in an FIR (first information report) lodged by the Noida police and also the restraint order from transferring and exercising voting rights in Dish TV on the basis of 44.53 crore shares pledged on disbursal of Rs5,270...

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Moneylife Digital Team 24 January 2023
Expressing deep concern over the outgo of valuable foreign exchange in the name of royalty and technical fees by multinational corporations (MNCs), the Swadeshi Jagran Manch (SJM) has asked the Indian government to reimpose caps to save valuable foreign exchange.   SJM referred to the...

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Reliance Industries Ltd (RIL) has spent Rs1trn (trillion) capital expenditure (capex) year-to-date, majority of which is on Jio, followed by retail and E&P (exploration & production), as a result of which the reported net debt is Rs1.1trn as of Q3FY22-23, up 18% quarter-on-quarter (q-o-q),...

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After an entrepreneur complained in a LinkedIn post that a Zomato delivery agent advised him to cheat the company by paying some money directly to him and enjoy the food, the company's founder and chief executive officer (CEO) Deepinder Goyal said he is 'aware' of this fraud and is 'working...

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Online food delivery platform Swiggy on Friday confirmed that the company is laying off 380 employees as food delivery growth slows.   "The growth rate for food delivery has slowed down versus our projections (along with many peer companies globally). This meant that we needed to...

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The Bombay High Court on Friday granted interim bail to Videocon Group Chairman Venugopal Dhoot, who was arrested in connection with the ICICI Bank-Videocon scam case by the Central Bureau of Investigation (CBI).   A division bench of Justices Revati Mohite-Dere and Prithviraj K....

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Moneylife Digital Team 19 January 2023
GoMechanic, an online vehicle repair platform, has laid off 70% of its workforce as the Sequoia India-backed start-up grapples with a funding crunch after the existing and prospective investors found that the founders had misstated facts, says a report from TechCrunch.   The move...

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In a setback to Google, the Supreme Court on Thursday refused to interfere with the national company law appellate tribunal (NCLAT) decision, declining to stay operation of the competition commission of India (CCI) order imposing Rs1,337.76 crore fine on the tech giant.   A bench,...

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In a relief to the NOIDA Authority, the Supreme Court has dismissed the contempt of court filed by the DLF while ordering the real estate group to pay Rs235 crore to the civic body.   The Authority in its arguments said that as per the terms of the lease deed signed between the mall...

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