HDFC: Mortgage firm HDFC said its disbursements in the individual loan category have grown by 26 per cent during the third quarter ended December 2020. The individual loan business continued to see improvements during the December quarter, HDFC Ltd said in a regulatory filing.
L&T, ZEEL: Income tax officials conducted surveys at offices of engineering major Larsen & Toubro and media firm Zee Group for alleged GST evasion, an official of the tax department said. When contacted, L&T neither confirmed nor denied the development, while the media group has confirmed the tax survey.
Sun Pharma: The company said it has initiated Phase 2 clinical trial for a product being developed to treat patients with moderate to severe plaque psoriasis. The Phase 2 study is a randomised, double-blind, placebo-controlled study to assess the efficacy and safety of SCD-044 (novel molecule) in the treatment of moderate to severe plaque psoriasis, Sun Pharmaceutical Industries said in a statement.
SBI, PFC: Exim’s successful issue has already got two follow ups with Power Finance Corp likely looking at raising atleast $500 million on Tuesday and State Bank of India lining up a $1 billion issue later in the week.
JSPL: Jindal Steel & Power Limited (JSPL) reported a 20% year-on-year rise in production to 19.3 lakh tonnes during the third quarter of FY 21 with December production reaching record high levels of 7.27 lakh tonnes, a rise of 30% YoY.
Edelweiss Financial Services: The NBFC said it has raised over Rs 240 crore through the issuance of non-convertible debentures (NCDs). The company in a release said its public issue of its secured redeemable NCDs has been oversubscribed.
IDBI Bank: A media report suggests that the RBI has said that the government and Life Insurance Corporation (LIC) of India should allow IDBI Bank to come out of the prompt corrective action (PCA) framework before they go ahead with the stake sale in the lender.
TechM: As part of its aggressive foray into the 5G telecom network space, IT major Tech Mahindra (TechM) is open to collaborating with Reliance Jio, which has developed its own 5G network and plans to sell it globally, a media report suggested.
IOC: Union Petroleum Minister Dharmendra Pradhan flagged off from L&T’s Hazira plant in Surat district critical components bound for Indian Oil’s MEG (mono-ethylene glycol) plant coming up at the refinery-cum-petrochemical complex at Paradip in Odisha.
Jaykay Enterprises: The company, a part of diversified JK Group, said it has entered into a joint venture partnership with Germany’s EOS, a global leader in 3D metal design and printing market, to address the need of 3D metal printing in India.
Larsen & Toubro: The company said it has won a large contract from HPCL Rajasthan Refinery in Barmer to set up a catalytic cracking unit. The company, however, did not specify the exact contract value, but as per its classification, a large contract ranges between Rs 2,500 and Rs 5,000 crore.
Future Retail: Amazon provided mere “lip service” and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the Covid-induced lockdown and faced possible insolvency or debt restructuring, Future Group’s promoters said in a letter to the e-commerce giant.