Nifty futures on the Singapore Stock Exchange traded 13 points, or 0.08%, at 15,635.50, signaling Dalal Street was heading for a positive start on Wednesday. The bulls tightened their grip, sending benchmarks up nearly 2% in the previous session as the rally was seen across all sectors. Positive global indices also contributed to sentiment. The BSE Sensex jumped 934 points or 1.8% to 52,532, while the Nifty50 rose 289 points or 1.88% to 15,639.
SIEL Financial Services
Deepak Kumar Rustagi is appointed chief financial officer (CFO) and key management personnel (KMP) of the company effective March 17. Ram Jeevan Chaudhary will be relieved of his responsibilities as Chief Financial Officer.
The country’s largest private lender proposes to double its branch network over the next three to five years by adding 1,500 to 2,000 branches per year, which would be equivalent to adding a new HDFC bank every five years.
PVR, Stainless Steel Leisure
The multiplex operators said they had received clearances for their merger from the NSE and BSE exchanges. The two companies said they had received a letter with no “adverse comments” from the BSE and the National Stock Exchange of India regarding the proposed merger.
At a time of concerns being raised that lenders are delaying deposit rate hikes amid overall rate hikes, the private lender on Tuesday introduced a product in which interest earned on a term deposit is tied to the RBI repo rate.
The company has signed a share subscription agreement with Smiti Holding and Trading Company for the allotment of up to 63.1 lakh shares at a price of Rs 309 per share. Smiti Holding is an investor and will obtain shares on a preferential basis.
CARE has revised its credit rating on the company’s long-term bank facilities to A+, from “A”, with a stable outlook.
The company has launched Euro-5 compliant variants of its three popular products (Xpulse 200 4V motorcycle and Dash 110 and Dash 125 scooters) in Turkey. Hero has been operating in Turkey since 2014 and serves its customers through a network of over 100 touch points, which provide sales, service and spare parts.
The company has subscribed to optionally convertible debentures of Rs 194 crore allocated by Gem Paints and has appointed majority directors to the board of Gem Paints and Esha Paints. As a result, Gem Paints and Esha Paints became a subsidiary and subsidiary of the company, respectively.
Construction and generic engineering projects
CRISIL reaffirmed its long-term credit rating on the company’s bank credit facilities at BBB with a stable outlook and its short-term rating at A3+.
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