Ashoka Buildcon receives declaration date for NHAI project
Ashoka Buildcon in its filing to the exchanges stated that its subsidiary Ashoka Ankleshwar Manubar Expressway Private Limited has been informed that December 10 is its appointed date for the NHAI Project.
"The accepted bid project cost is Rs1, 687cr. The construction period of the project is 910 days from the appointed date, and the operation period is 15 years from the Commercial Operation Date (COD)," the company added.
Government seeks Rs41,000cr recapitalization bonds for PSU Banks
As per media sources, the government is likely to make additional capital infusion in the public sector banks. As a result government is seeking Rs41, 000cr recapitalization bonds. This will be over and above the Rs1.35 lakh cr capital infusion announced by the government for the public sector banks (PSBs) in October 2017 to meet global capital risk norms called Basel III. The public sector banks (PSBs) had to raise Rs58, 000cr from the stock markets by March 2019 to meet Basel III norms. However, due to subdued market conditions, banks have been unable to raise enough funds from the markets so far. So the government is seeking for infusing additional funds to the tune of Rs41, 000cr. This will help PSU banks to meet Basel III norms and improve their credit growth.
Alembic Pharma jumps ~2.5% on successful USFDA inspection
Shares of Alembic Pharmaceuticals rose ~2.5% in Thursday morning trade as the pharma company announced a successful USFDA inspection of its Gujarat API facility. United States Food and Drug Administration (US FDA) has conducted an inspection at Alembic Pharmaceuticals Limited API Facility located at Panelav from 17th December, 2018 to 19th December, 2018. This was a scheduled inspection and at the end of the inspection, there were zero 483s, mentioned Alembic Pharma in a press note to the exchanges.
Thomas Cook to amalgamate its three arms with itself
The Board of Directors of Thomas Cook (TCIL), on December 19, 2018, approved amalgamation of three of its subsidiary companies with itself.
This includes the following entities:
TC Forex Services Limited (100% stake of TCIL)
TC Travel Services Limited (100% stake of TCIL)
Travel Corporation (India) Limited (TCI) (100% stake of TCIL)
The inbound business of TCI to be merged into SOTC Travel Management Private Limited, which is also 100% subsidiary of TCIL
The residual business of TCI to be merged into TCIL.
Canara Bank to raise Rs3,000cr capital via bonds
Canara Bank in its filing to the exchanges informed that its board has decided to raise Rs3, 000cr capital via bonds. The announcement was made by the bank after-market hours on Wednesday. The board of the bank has decided to raise additional Tier-I capital through Basel-III compliant additional Tier-I perpetual bonds in rupee terms for an amount not exceeding Rs3, 000cr in single tranche or in multiple tranches," the bank said in a statement.
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