Sanjay Kumar Jain, a 1990 batch Indian Railway Traffic Services (IRTS) Officer, assumed the role of chairman and managing director of Indian Railway Catering and Tourism Corporation (IRCTC) effective immediately, as per a regulatory filing on February 14. A qualified Chartered Accountant (CA), Mr. Jain’s career is a blend of leadership roles in policy making, […]
CAIT, in its representation to the Finance Ministry, has urged for a postponement of the new rule mandating timely payment to MSMEs within 45 days, citing the need for clarity and awareness among traders. Secretary General Praveen Khandelwal emphasized the necessity of postponing the implementation by a year or until sufficient clarity is achieved, allowing […]
AI-driven travel company LE Travenues Technology, supported by investors such as SAIF Partners India IV, Peak XV, and Micromax, has refiled its draft documents with SEBI for an initial public offering (IPO). The IPO comprises a combination of fresh shares worth Rs 120 crore and an offer-for-sale (OFS) of 6,66,77,674 equity shares by existing shareholders, […]
Shares of SpiceJet plunged over 5% on February 14 following reports from CNBC-TV18 indicating investor concerns regarding the airline’s funding situation. According to sources cited by CNBC-TV18, SpiceJet is facing ongoing liquidity challenges, leading to delays in salary payments, TDS settlements, and EPFO deposits for many employees due to insufficient funds. In the previous month, […]
SIDBI has inked an agreement with the Nagaland government, pledging over Rs 100 crore for entrepreneurship initiatives in the northeastern state. As the apex regulatory body overseeing micro, small, and medium enterprise finance companies in India, SIDBI operates under the Ministry of Finance. During an event on Tuesday night, Subhransu S Acharya, Chief General Manager […]
Earlier today, Rashi Peripherals IPO stock held a 13 percent premium in the grey market. Upon listing on February 14, the stock opened at a 9 percent premium over the IPO price, at Rs 339.5 on the NSE and Rs 335 on the BSE, missing analyst expectations of a double-digit premium from its issue price […]
The Ministry of Defence has inked a deal worth Rs 2,269 crore with Bharat Electronics Limited (BEL) on Tuesday for the acquisition of 11 Shakti warfare systems, along with related equipment. According to officials, these electronic warfare systems will be installed on the frontline vessels of the Indian Navy. Capable of precisely intercepting electronic emissions […]
Yes Bank is poised to recuperate approximately fifty percent of its dues from Katerra India by offloading the company’s loans during its corporate insolvency proceedings. According to sources familiar with the situation, Prudent ARC responded to a counter-offer by Asset Reconstruction of India (Arcil) during a Swiss challenge auction organized by Yes Bank on Monday. […]
Moody’s Investor Group announced on February 13 a revision in the outlook on debt papers for four Adani Group companies, shifting from negative to stable. Concurrently, the rating agency maintained a stable outlook for the remaining four companies and affirmed the ratings for all eight entities within the conglomerate. This action by Moody’s comes after […]
Capital Small Finance Bank had a lackluster debut on the stock exchanges, opening at an 8.1 percent discount to its IPO price on February 14. The stock commenced trading at Rs. 430 on the NSE and Rs. 435 on the BSE, compared to the issue price of Rs. 468. Prior to its listing, the stock’s […]