Tata Power Ltd. on Friday said that it has raised Rs 1,000 crore through issuance of Non-Convertible Debentures (NCDs). The company is a stock exchange filing said that it has raised amount through the issuance of 10,000 unsecured, redeemable, taxable, listed, rated NCDs on private placement basis on 27 November 2020. The NCDs issued will be listed on the Wholesale Debt Market segment of BSE and have fixed rate with annual coupon payment. Delay in the payment of interest or principal amount for a period of more than three months from the due date or default in payment or interest or principal amount will trigger an event of default and additional interest will be imposed. For the September quarter, the company had reported a 10 per cent growth in its consolidated net profit of Rs 371 crore against Rs 339 crore fo

Agrochemical firm Heranba Industries, which is planning to enter the capital markets quickly, is anticipating Rs 1,150-1,200 crore income in 2020-21 because the financial actions are enhancing steadily after the havoc attributable to the pandemic, a high firm government has stated. “Being an agrochemical firm, we weren’t affected a lot by the disruptions attributable to the pandemic. In 2019-20, we clocked an income of Rs 950 crore, and this 12 months in the course of the first half we had garnered an income of Rs 618 crore. “And if the scenario improves additional, the administration is assured on reaching the income goal of over Rs 600 crore within the final two quarters to succeed in total Rs 1,150-1,200 crore in FY21,” Heranba Industries Chairman Sadashiv Shetty instructed in a digital interplay. Addi

Morris Garages Indian subsidiary, MG Motor India has partnered with Tata Power for introducing first 60 kW Superfast EV charging station in Agra. The charging station was inaugurated at MG Agra Showroom as a part of Tech Trial Run conducted from Delhi to Agra. The public charging station will be available 24x7 for customers and the charger comes with CCS/CHAdeMO fast-charging standards. The inauguration came as an extension of #NHforEV2020 tech trial run flagged off by senior government dignitaries at India Gate on November 25, 2020. The convoy of vehicles completed its journey with ZS EV from Delhi to Agra in single charge at the MG Agra Showroom on the same day. Gaurav Gupta, Chief Commercial Officer, MG Motor India speaking on the occasion said, “The launch of the EV trial run from Delhi to Agra by the Govern

The initial public offering (IPO) of quick-service restaurant (QSR) chain Burger King India Ltd will open on December 2, for three days. The price band for the IPO has been set at Rs 59-60 per share. Burger King aims to raise Rs 810 crore through the issue which comprises a fresh issue of shares worth Rs 450 crore, and an offer for sale of up to 60 million shares by promoter entity QSR Asia Pte Ltd worth Rs 360 crore, at the upper end of the price band. The company had undertaken a pre-IPO placement, by way of the rights issue, of Rs 58.08 crore at a price of Rs 44 per share to the promoter and preferential allotment of Rs 91.92 crore at a price of Rs 58.50 per share. Hence, as a result, the fresh issue size has been reduced to Rs 450 crore from Rs 600 crore earlier, as per the advertisement of IPO published in n

Digital payments company Paytm has announced that Paytm merchants can now receive unlimited payments through Paytm Wallet, UPI, and Rupay cards at zero per cent fee. The move is said to benefit more than 17 million merchants on the digital payments platform as they can now transfer money to banks without any deductions. The company also said that the development would provide merchants with a "single point of reconciliation" for all their payments. That means merchants will no longer require multiple QRs at their counters to receive money from regular users. The company is press note states that business accounts can now select 'all-in-one QR' to accept payments from Paytm wallet, Paytm UPI, or any other UPI app. Speaking about the development, Kumar Aditya, Paytm senior vice president said, "We are empowering our

In the early morning trade on Friday, shares of gas transmission companies rallied up to 19 per cent on BSE following the notification of Petroleum and Natural Gas Regulatory Board (PNGRB) for unified gas transmission tariff structure. At 9:26 am, Gujarat Gas jumped 19 per cent to Rs 411 on the BSE, Indraprastha Gas locked in upper circuit at Rs 492, while Mahanagar Gas surged 10 per cent to Rs 1,023 and Adani Gas 9 per cent up at Rs 345, Gujarat State Petronet (GSPL) soared 18 per cent to Rs 243, Gail was 4 per cent high at Rs 107. On the other hand, S&P BSE Sensex stood flat at 44,259. The oil regulator simplified the country’s gas transmission tariff structure for making fuel more affordable for distant users and to attract investments for building gas infrastructure. PNGRB notified regulations for 'unifi

Omnichannel retailer Nykaa on Thursday said Boston-based asset management firm Fidelity Management & Research Company has invested in the Indian fashion and beauty marketplace Nykaa through a secondary transaction, providing a partial exit to early investors and employees. The city-based company, which had achieved ''unicorn'' status through an earlier fund-raising round that valued it at USD 1.2 billion, did not disclose the valuation of the investment. Falguni Nayar, Founder, and CEO of Nykaa said, “We are very excited to have Fidelity, one of the largest asset managers in the world, to join as a partner in our growth journey. Nykaa’s focus on business sustainability and corporate governance further support such strong investor confidence.” One of India’s profitable internet companies, Nykaa recorde

Angel Broking is a financial services company providing broking and advisory services, margin funding, loans against shares, and financial products distribution to its clients. One of the main clients of Angel Broking is IDFC First bank. Recently, the target price of IDFC First Bank has been upgraded from Rs 40 to Rs 44. The current market price of the stock up by 0.58 per cent at 11:13 hours on the NSE. The intraday high of stock touched Rs 355.85 while, the intraday low is Rs 351.50. Its previous closure was Rs 351.90. The brokerage expects an upside of 22 per cent in the stock price. "We changed the target price upwards post the recent report by the RBI’s Internal Working Group on proposed changes in ownership guidelines for Indian Private Sector Banks. Under the new guideline the RBI has proposed that the ce