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13-May2019

IDFC First Bank, Ester Industries and PC Jeweller to see some action today

IDFC First Bank has received approval to raise funds through issuance of Debt Securities up to an amount not exceeding Rs 5,000 crore on Private Placement basis. The Board of Directors of the bank at its meeting held on May 10, 2019 has approved the same.

Ester Industries has entered into a long term agreement with a global chemical leader to supply innovative Polybutylene Terephthalate polymers. The product is used across various applications which include textiles, fibre, automotive, industrial and consumer electronics.

PC Jeweller has received approval for scheme of arrangement for demerger of 'Export Division' of PC Jeweller and subsequent amalgamation of the same with its Wholly Owned Subsidiary Company i.e. PCJ Gems & Jewellery. The Board of Directors of the Company at its meeting held on May 11, 2019 has approved the same.

UPL has invested Rs 9.24 crore in Allfresh Supply Management constituting 26.75% (on fully diluted basis) in the paid-up share capital of Allfresh. Allfresh is engaged in procuring and supplying fresh produce (specifically fruits) to its customers after appropriate post-harvest management activities. The post-harvest management activities include waxing, grading, packing, labelling, CA or cold storage and refrigerated transportation.

Syndicate Bank has reported a net profit of Rs 128.02 crore for the quarter ended March 31, 2019 against net loss of Rs 2,195.12 crore for the same quarter in the previous year. Total income of the Bank increased by 4.95% at Rs 6345.22 crore for quarter under review as compared to Rs 6046 crore for the quarter ended March 31, 2018.

Larsen & Toubro has reported a rise of 13.35% in its consolidated net profit at Rs 3,916.13 crore for the quarter ended March 31, 2019 as compared to Rs 3,454.77 crore for the same quarter in the previous year. Total income of the company increased by 10.86% at Rs 45,555.29 crore for Q4FY19 as compared Rs 41,091.04 crore for the corresponding quarter previous year.

HPL Electric & Power has issued Commercial Papers (CPs) of Rs 10 crore on May 09, 2019 for 90 days and having maturity date on August 07, 2019. The CPs has a coupon rate of 8.85% per annum.


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