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U Gro Capital files with SEBI for public issue of NCDs
U Gro Capital a non-deposit taking systemically important NBFC registered with the RBI has filed prospectus dated March 30, 2022, with Registrars of Companies for public issue of rated, secured, senior, listed, transferable, redeemable, non-convertible debentures of face value of Rs 1,000 each for an amount of Rs 5000 lakhs with an option to retain over-subscription upto Rs 5,000 lakhs, aggregating overall issue size up to Rs 10,000 lakhs.
The equity shares of the company are listed on NSE and BSE.
Suven Pharma to acquire Hyderabad-based formulation company Casper PharmaThe Board of Directors of Suven Pharmaceuticals (SPL) has approved the investments by way of purchase of entire (100%) share capital from the existing shareholders of Casper Pharma Private Limited, a Hyderabad based SEZ company engaged in formulations business, as per the company’s press release. Post purchase of shares, the target entity would become a wholly owned subsidiary of SPL.
BSE Midcap index gained 1 percent supported by the Bajaj Holdings & Investment, Supreme Industries, Adani Power
Will work closely with CCI with their investigation: said ZomatoWe will continue to work closely with the Hon’ble Commission to assist them with their investigation and explain to the regulator why all of our practices are in compliance with competition laws and do not have any adverse effect on competition in India, said Zomato in its press release.We intend to promptly comply with any recommendations given to us by the Hon’ble Commission, it added.
Oil extends rally on prospect of fresh Russia sanctions
Oil futures rose on Tuesday as the United States and Europe planned new sanctions to punish Moscow over alleged war crimes by Russian troops in Ukraine, raising concerns of tighter global supply, while Iran nuclear talks stalled.
Brent crude futures rose $1.87, or 1.7%, to $109.40 a barrel, while U.S. West Texas Intermediate futures were up $1.83, or 1.8%, at $105.11 a barrel at 0615 GMT.
Inflation will remain a concern for next few years, technology sector looks attractive: Ramesh Damani
The pandemic is becoming an endemic now and see a huge amount of long-term money coming into the market, Ramesh Damani told to CNBC-TV18.
All the evidence are pointing towards a new bull market in India and foreign money will start coming in as & when markets moves higher, he said.
The HDFC-HDFC Bank merger will lead to a further consolidation in the financial sector. The inflation has become a big issue globally and it will remain a concern for next few years, Damani added.
The technology sector is looking attractive and real estate can be a good bet against inflation, he further said.
Goa Carbon Bilaspur Unit temporarily shut for maintenance work
Goa Carbon informed that the operations at the company’s Bilaspur Unit located at 34-40, Sector B, Sirgitti Industrial Area, Bilaspur (Chhattisgarh) have been temporarily shut down for maintenance work from 5thApril 2022.
At 13:16 hrs Goa Carbon was quoting at Rs 528.30, up Rs 3.90, or 0.74 percent on the BSE.
Deepak Parekh exclusive interview| HDFC and HDFC Bank need to have a common culture
Parekh said over years tight RBI regulations have removed the arbitrage between a bank and NBFC. This is one of the reasons why HDFC chose to merge with the bank.
BSE Smallcap index added 1.5 percent supported by the Swan Energy, Dilip Buildcon, Sunflag Iron
Hariom Pipe Industries IPO Updates:
The initial public offering (IPO) of Hariom Pipe Industries was subscribed 4.67 times on the April 5, the final day of bidding. The public issue received bids for 3.96 crore equity shares as against 85 lakh units on offer. The issue, which kicked off for subscription on March 30, will close today.
The IPO received strong response from retail investors. The entire portion reserved for them was subscribed 9.45 times. On the other hand, the portion for qualified institutional buyers was subscribed 93 percent and that of non-institutional investors was subscribed 3.09 times.
L&T Finance clarifies on sale of bad loans
L&T Financial Services has clarified on L&T Finance sells Rs 3463 crore NPAs to Phoenix ARC. “The said transaction has been undertaken by L&T Finance Limited, a high value debt listed entity and a subsidiary of L&T Finance Holdings Limited,” said L&T Financial Services in its press release.
L&T Finance Limited is registered as a Non-Banking Finance Company with the RBI and banks and NBFCs undertake sale of stressed assets to ARCs in the ordinary course of business, it added.
L&T Finance Holdings was quoting at Rs 86.55, up Rs 1.25, or 1.47 percent on the BSE.
