Manappuram Finance to secure Rs350 crore through issuance of NCDs

India based non-banking financial company, Manappuram Finance Ltd is planning to raise Rs 350 crore through issuance of non-convertible debentures (NCDs) on a private placement basis.In a filing at regulatory at BSE, Manappuram Finance said, "The financial resources and management committee of the board of directors of the company on December 26, has approved the issuance rated, secured and redeemable

NHPC to raise Rs 2,000 crore in FY 19-20

A state-owned hydropower generation company NHPC Ltd, is planning to raise Rs 2,000 crore through various instruments.In a filing at BSE, the company said, "Its board will meet on 28 December to consider a proposal to raise the funding through the issuance of corporate bonds on private placement basis or through term loan or external commercial borrowing."The statement added, "The board will consider the

Amazon starts pilot projects to buy directly from Indian farmers

As a part of the farm-to-fork initiative, Amazon India Retail venture has started a pilot project to by fresh fruits ad vegetables directly from Farmers.According to the media reports, “Amazon has partnered with dozens of farmers in Pune, Maharashtra, and has created a cold chain hub in the region to facilitate the program.""This will supply produce for the company's online stores as Amazon Fresh and Amazon

RBI is purchasing dollars through state-run banks

Reserve Bank of India, also known as (RBI) is buying dollars in the market through state-run banks.Four traders, familiar with the update, said, "It is suspected to see how Reserve Bank of India is buying the dollars from the market through state-run banks to prevent appreciation in the rupee above 70.50 per dollar."The U.S. dollar closed at 70.85 today.

Hyundai Motor to get price hike from January

India's largest automaker Hyundai Motor India has announced that, "It will increase the prices of its entire product range from next month."In a statement, the company said, "The increase in the price may vary for different models and fuel types.""The increase in price has been-constrained on account of the increase in input and material costs," the statement added.Further adding to the statement,

Aditya Birla Fashion appoints Himanshu Kapania as company's vice chairman

India leading fashion and retail giant, Aditya Birla Fashion and Retail Ltd, has announced the appointment of Himanshu Kapania as vice chairman of the company.In a filing at the regulatory, the company said that "The board of directors vide their resolution dated 10 Dec 2019. The board has approved the appointment of Himanshu Kapania as an additional 9 non-executive director and vice-chairman of the company,

Allcargo Logistics acquires a controlling stake in Gati

A Mumbai based- Integrated logistics solution provider Allcargo Logistics has announced the acquisition of majority stakes in Gati Ltd for Rs 416 crore.As a part of the deal, Allcargo which provides the services, as multimodal transport operations. Container freight station operations, warehousing, distribution, contract logistics, and logistics parks. Will allow the company to enter in Gati’s express logistics

Kumar Mangalam Birla: Vodafone-Idea may opt for insolvency in absence of government relief

Kumar Mangalam Birla, the Chairman of Aditya Birla Group on Friday, said that "Vodafone Idea will shut the shop and opt for insolvency if the government does not provide the substantial relief which the company has asked for."Calling AGR as the "Big elephant," Birla, at Hindustan Times Leadership Summit said, "There is no company in the world that could get that sort of money in three months, and if the center

Triumph motorcycle records 10% Y-o-Y growth in retail sales in India.

UK motorcycle manufacture, Triumph Motorcycle has recorded a 10% year on year growth in retail sales in India.In an interview with India-based newspaper, Economic Times, Shoeb Farooq, General Manager, Triumph Motorcycles India, said that "The company expects to close its June- July fiscal cycle with a marginal growth over last year, with the retail sales of 1,000 - 11,00 units."Adding to the statement, Shoeb

Shadowfax raises $60 million in series D round funding from Flipkart, Eight Roads Venture, World Bank’s IFC, and others

India based logistics startup Shadowfax has raised $60 million in series D round funding from Flipkart, Eight Roads Ventures, and few others.The new round funding led by Walmart-owned Flipkart has also seen the participation of Eight Roads Ventures, a venture capital arm of Fidelity, Nokia Growth Partners, Qualcomm Ventures, Mirae Asset Fund, and World Bank-backed International Finance Corporation (IFC).