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Friday, March 20, 2015

Cos Garner Rs 9000 Cr Via NCDs, Lower Than Last Fiscal
Indian companies have raised over Rs 9,000 crore via retail issuance of non-convertible debentures (NCDs) so far in the current fiscal to meet working capital requirements. Although this is more than the initial target of Rs 3,850 crore, it is just about 20 per cent of the amount raised in the previous fiscal. In 2013-14, firms had collectively raised Rs 42,383 crore via 35 issues.  Firms including Shriram City Union Finance, Kosamattam Finance, SREI Infra  Finance and Muthoot Finance, collectively raised Rs 9,050 crore via NCDs through 22 issues till March 16, according to data from SEBI. Market experts said fund raising via NCDs has been less, compared to the previous fiscal as companies have preferred QIPs and rights issues modes to garner capital.

Bankers Warned Against Using Influence For Transfer
Warning disciplinary action, the Finance Ministry has asked bank employees to desist from using political influence for appointment or transfer. It has been decided to advise banks to sensitise their employees to refrain from using political pressure or bringing outside influence in matters of appointments so as to avoid disciplinary action as per rules, Department of Financial Services said in an advisory to heads of all public sector banks. “Some employees of PSBs have been using political pressure or bringing outside influence in matters of appointments etc to Department of Financial Services,” it said.

Auction Of 15-20 More Mines If Coal Bill Is Passed
The coal auction will resume by end of April or early May with 15-20 more mines, provided the Coal Mines bill is passed in Rajya Sabha or a new ordinance is promulgated. “If the Bill (Coal Mines) get passed (in Rajya Sabha) then there would be auction of 15-20 coal blocks. It (the auction) will start in April-end or the first week of May,” Coal Secretary Anil Swarup told PTI in an interview.

Hiranandani  Bags ‘Best Design Award’
At the second NDTV Property Awards, which was held at the Taj Lands End in Mumbai on 13th March, 2015, the Hiranandani Group bagged ‘Best Design for Community Living Award’ for its Powai and Thane Townships. Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL) accepted the award. The awards honour and acknowledge excellence in Indian real estate and recognise  real estate leaders whose persistent pursuit of excellence has fuelled India’s journey to the forefront of the world’s economy. Commenting on winning the award, Hiranandani said he was elated. “We have always stressed on building communities rather than just square feet of space. The townships we have built at Powai and Thane have been recognized by various organizations, this recognition at the second NDTV Property Awards to add yet another endorsement of the projects having come up the right way.”

Gujarati Samaj Award For Harshad Thakkar
Harshad H. Thakkar, Chairman & MD of Ashapura Intimates Fashion Ltd. & Momai  Apparels Ltd. is seen receiving Girnar Award of Bruhad Mumbai Gujarati Samajlast week in Mumbai from Hemraj Shah, President of Bruhad Mumbai Gujarati Samaj.

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