RBI eases regulations for NBFCs
RBI has eased lending regulations for NBFCs by removing investor limits and the need for collateral guarantees on standard debt transactions.
Henceforth the NBFCs would henceforth be able to conduct non-convertible transactions valued at Rs10 million or more unsecured, and such issuance would no longer be limited to 200 investors.
This is positive for NBFCs like Bajaj Finance, LIC Housing, Shriram transport, Mahindra Finance etc.
JBM Auto to invest Rs100 crore for capacity expansion
JBM Auto to invest Rs100 crore for capacity expansion in Tamil Nadu - positive for JBM Auto.The proposed investment would take up the capacity from 75,000 components to 100,000 a day. The products manufactured in these facilities include chassis and suspension systems; exhaust systems, welded assemblies, cross car beams and others.
Ultratech wins Bicharpur coal block in Madhya Pradesh
Ultratech won underground coal block in Madhya Pradesh with total reserve of 29.12 million tonne. The coal block although beneficial considering rise in price of coal over the long term will only contribute minimally (0.75MTPA) considering the company’s annual coal requirement (over 8.5 MT). Hence it would not have significant impact on cement cost of production.
ITC to launch B Natural fruit juices in domestic markets soon
ITC to launch B Natural fruit juices in eastern, western markets soon – focus on building up fast the non cigarette FMCG product portfolio.
ITC Ltd, which recently forayed into the fruit juices with “B Natural” is been selling the product in the five southern States.
Rajesh Exports secures Rs732 cr export order; stk gains
Shares of Rajesh Exports rose over 7%, touching to Rs181.25, after the company said it has secured an export order worth Rs732 crore of designer range of gold and diamond studded jewellery and medallions from A1 Malek Jewellery, UAE.