Home Credit India Raises Rs 6 Bn in Funding in Jan - Mar to Support Business Growth
Home Credit India Finance Pvt. ltd., one of India's fastest growing non-banking finance company, on Tuesday announced that it has raised over Rs 6 billion (Rs 600 crore) through a mix of innovative securitization transactions, terms loans, and non-convertible debenture (NCD) issue during January - Mar 2018. The funds will be primarily utilized for supporting the rapid growth of business and expanding operations across India. Of the total amount raised, nearly Rs 2.8 billion (Rs 280 crore) has been raised through securitization of consumer durables and cross-sell personal loans. The balance financing of 3.2billion (Rs 320 crore) has been raised through multiple term loans and a NCD. While the securitization issues were subscribed by investors like DCB Bank and Hinduja leyland Finance limited, term loans were raised from a clutch of leading financial institutions such as IFMR Capital, Tata Capital, and JM Financial.
India, Bangladesh jointly inaugurates ‘Bangladesh Bhavan' at Visva Bharati Campus
Prime Minister Narendra Modi and Bangladesh Prime Minister Sheikh Hasina inaugurated ‘Bangladesh Bhavan' at the campus of Visva Bharati University, founded by Rabindranath Tagore in 1921 at Bolpur in Santiniketan, in the presence of Mamata Banerjee, Chief Minister of West Bengal on May 25, 2018. Modi is the Chancellor of Visva Bharati University, one of the most prestigious universities of India. NBCC (India) ltd, a Navratna CPSE under the Ministry of Housing and Urban Affairs, was the implementing agency for this Rs 24.22 crore project. Describing the Bangladesh Bhavan as a symbol of cultural ties between India and Bangladesh, Prime Minister Modi said, “I feel glad to inaugurate Bangladesh Bhavan which is an image of craftsmanship, connections, training and language. Gurudev Rabindranath Tagore's credo of Universal Humanism is reflected in the Union Government's guiding principle of “Sabka Saath, Sabka Vikas.”
SAIl supplies 43000 tonnes of steel for Eastern Peripheral Expressway
Matching the pace and partnering with country's fast developing infrastructural architecture, Steel Authority of India ltd. (SAIl) is consistently supplying its quality steel for various prestigious infrastructure projects. SAIl has supplied 43000 tonnes of steel for the recently inaugurated Eastern Peripheral Highway by Prime Minister Narendra Modi.The total quantity supplied by SAIl for this project includes TMT Rebars, Plates and Structurals which have been supplied for construction of this 135 Km long eastern peripheral highway. SAIl is also supplying steel for the swiftly upcoming Western Peripheral Expressway.
NHPC declares audit financial results, earns Rs 2765 crore profit during FY 2017-18
NHPC limited, India's premier hydropower company and a ‘Mini Ratna' Category-I Enterprise of the Government of India has declared its Audited Financial Results for the Financial Year 2017-18. The Board of Directors approved the Audited Financial Results for FY 17-18 in the meeting held on May 28, 2018 at New Delhi.NHPC has reported net profit after tax of Rs 2765 crore on standalone basis in the FY 2017-18 compared to Rs 2803 crore for the corresponding period in the last fiscal year. Sales for the FY 2017-18 stood at Rs 6932 crore to Rs 7192 crore for the corresponding period in the last fiscal year.
REC Declares Results for FY18, recommends final dividend of Rs 1.75 per share of Rs 10 each
The Board of Directors at REC limited approved the audited financial results for Q4 FY18 and FY18 on Tuesday. The Board has recommended a final dividend of Rs 1.75 per share of Rs 10 each. The Company witnessed an uptrend of 28% in the loan Sanctions during FY18 as it approved loans amounting to Rs 1,07,534 crore in FY18 as against Rs 83,871 crore in FY17. Disbursements have also shown an increase of 8% at Rs 61,712 crore in FY18 as compared to Rs 58,039 crore in FY17. Given the healthy growth in the operational parameters, the loan book of the Company has increased 19% to Rs 2.39 lakh crore as on 31 March 2018 as against Rs 2.02 lakh crores as on 31 March 2017.