Coal India: Coal India Limited said on Wednesday that the company aims to invest 40,000-50,000 crore as capital expenditure over the next 4-5 years. NS CIL Chairman Pramod Agarwal told investors that capital expenditure (capital expenditure) of Rs 17,000 crore for the current fiscal is “on track”. The company said rising costs meant it was “inevitable” that it would be forced to increase supply prices in long-term deals to protect profitability.
IOB: Indian Overseas Bank (IOB) and Central Bank of India today informed exchanges that there is no information about the alleged privatization of banks. The Central Government will introduce the Banking Laws (Amendment) Bill 2021 in the winter session of Parliament. The proposed law is included in the list of 26 bills to be introduced during the session.
Tata Steel: It has executed a blockchain-enabled paperless export order with a metals major in Bangladesh, making it the first such deal executed between an India-based company and a counter party in Bangladesh. Notably, in a global first for the steel industry, Tata Steel used a blockchain platform pioneered by HSBC to complete a trade finance transaction with the UAE-based company in April 2021.
JM Financial: JM Financial Products Limited, the flagship NBFC arm of JM Financial Group, on Wednesday announced the launch of Bondkart.com, a digital investment platform that gives investors access to a wide range of debt securities, thereby enabling hassle-free investment. The way is paved. Bondskart.com will further enhance the bouquet of financial services that JM Financial currently offers.
Union Bank / Capri Global: Capri Global Capital Ltd (CGCL), a non-bank lender focused on small businesses and affordable housing, on Wednesday entered into a co-loan agreement with Union Bank of India. Through this collaboration, CGCL and Union Bank aim to disburse Micro, Small and Medium Enterprise (MSME) loans to over 100 touch points in India. The loan disbursement under this arrangement will start from December 2021.
L&T: Indian multinational conglomerate Larsen & Toubro Limited (L&T) has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to set up a data center in Kancheepuram. L&T said it will set up 90 MW capacity data center and associated units in Kancheepuram in a phased manner over the next five years. The company aims to employ around 1,100 people (600 direct and 500 indirect) in the project.
Cadila Healthcare: Indian pharmaceutical major Cadila Healthcare has entered into an agreement with South Korea’s Enzyme Lifesciences for its plasmid DNA vaccine to prevent Covid-19. The deal includes manufacturing licenses and technology for such vaccines. The partnership that was signed on Wednesday will result in the manufacture of 80 million doses or more of the COVID-19 plasmid DNA vaccine in 2022.
PVR: Multiplex chain PVR Cinemas has partnered with digital service provider UFO Movies to announce the installation of a cinema-specific air sterilization device called the UFO-Wolf Airmask to make theaters a safer experience for audiences, which are still closed. Sitting with strangers in auditoriums can be wary. In view of the Covid-19 pandemic.
NALCO: Shares of state-run National Aluminum Company (Nalco) fell in Wednesday’s trading session, a day ahead of the record date fixed on November 25, 2021 for payment of interim dividend for the financial year 2021-22. Board of Directors approves payment of interim dividend 2 per share (40% on face value of Rs.5/-) on paid-up equity share capital 918.3 crores.
Hero MotoCorp: Hero Electric recorded 24,000 retail sales during the 45-day festive period from October 1 to November 15, as against 11,339 units last year. This is an increase of more than 100 percent compared to the sales during the same period last year. The company already has over 4 lakh electric vehicles on Indian roads. Hero Electric has blamed rising fuel prices and the government-backed FAME II policy that subsidizes the purchase of electric vehicles.
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