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Hero MotoCorp: The country’s largest motorcycle manufacturer reported that total sales in August were 4,53,879 units, a 22% decrease compared to the same month last year. The company dispatched 5,84,456 units to dealers in August 2020.
Coal India: State-owned miners produced 42.6 million tonnes of coal in August, a 14.6% increase over the corresponding month in the previous fiscal year. There are reports that thermal power plants nationwide are suffering from coal shortages, and production is increasing.
Kotak Mahindra Bank: Private lenders said they have completed the process of selling more than 8% of Airtel Payments Bank’s stake to Bharti Enterprises for Rs 294.80.
Axis Bank: The third-largest private sector lender by asset has raised US $ 600 million from offshore investors by selling sustainable additional Tier 1 (AT1) bonds with a 4.1% coupon, sources said. .. It started issuing perpetual bonds earlier in the day with the first pricing guidance at 4.4 percent.
State Bank of India: The largest PSU lender said it raised Rs 400 billion and offered a coupon rate of 7.72 percent through additional Tier 1 (AT1) bonds compliant with Basel. This issue received overwhelming response from investors with bids in excess of 10,000 chlores for a basic issue size of 1,000 chlores.
Wipro: IT Services Major announced that it has appointed Mohammed Aleph as Country Head and Managing Director of its Middle East operations.
Vedanta: A mining company led by Anil Agarwal said the board of directors approved an interim dividend of Rs 18.50 per share for 2021-22. This is equivalent to 6,877 rupees. The record date for dividend payment is September 9. The interim dividend will be paid within the time limit stipulated by law.
Power Grid Corporation of India: The state-owned transmission company will seek the approval of shareholders to raise up to 6,000 rupees through private placement of bonds or corporate bonds at its annual shareholders meeting later this month.
NTPC: The state-owned power giant said its arm, NTPC REL, received a certificate (LoA) from Prime Minister Shivraj Shinchauhan for a 325 MW solar project in Madhya Pradesh.
NMDC: State-owned metal producers said iron ore production surged by more than 44% from April to August 2021 to 15.02 million tonnes (MT). The company’s iron ore production was 10.42 tonnes in the same period last year.
Ashok Leyland: NS
The group’s flagship company said Chief Operating Officer Nitin Seth will resign after working for 11 years to pursue another career outside the company. Seth has successfully led a strong team in building Ashok Leyland’s light commercial vehicle (LCV) and other businesses.
NHPC: The state-owned hydropower giant will seek shareholder approval at its annual shareholders meeting on September 29, 2021 to raise the borrowing limit from Rs 10,000 to Rs 40,000. The company’s borrowing limit is from 30,000 to 40,000 rupees on the AGM agenda.
Minda Corporation: Auto parts giant said it has reached a final agreement to acquire a 26% stake in EVQPOINT Solutions, an electric vehicle (EV) charging solution startup, through its wholly owned arm, Spark Minda Green Mobility Solutions.
Mahindra & Mahindra Financial Services: NBFC announced that it has appointed Raul Robello as the new Chief Operating Officer. Robello’s appointment will take place after Rajnish Agarwal has moved to the Mahindra Rural Housing Finance.
Research company: The research-based company said it would seek shareholder approval to raise up to Rs 1,800 through a variety of modes, including the issuance of shares and securities.
Equitas Small Finance Bank: Google Pay users can enjoy the benefits of fixed deposit interest rates offered by Equitas Small Finance Bank by booking FDs on the payment platform without opening a bank account. Banks said they are providing this initiative by connecting APIs built by FinTech infrastructure provider Setu for Equitas Bank.
Hindustan Zinc: NS
The group company said it had extended the planned shutdown of one of the roasters at the Chanderiya lead-zinc smelter in Rajasthan. This will result in the loss of production of 25,000 tonnes of zinc.
ELGI equipment: Coimbatore-based air compressor maker said it has partnered with NASSCOM.
IIFL Wealth and Asset Management: The financial advisory firm said it has appointed Sanjay Wadhwa as Chief Financial Officer from September 2.
Esser delivery: On Wednesday, market regulator Sebi fined Essar Shipping’s compliance officer for failing to manage the code of conduct set forth in the insider trading code.
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