Companies and Markets

Companies & Markets

Suzlon to set up 36 wind units for Maharashtra utility

Wind turbine maker Suzlon Energy, the fifth largest player globally, has signed a 75 megawatt repeat order for wind power project contract from an independent power producer, which would earn it total revenues of about Rs 487 crore.

The project, won in bid from the Maharashtra State Electricity Distribution Company, entails installation of 36 units of S111-140m wind turbine generators (WTGs) with a rated capacity of 2.1 MW each, said the Pune-headquartered wind power major.

HAL sets price band at Rs 1,215 to Rs 1,240

Hindustan Aeronautics (HAL) announced its long-awaited initial public offering (IPO) of shares worth Rs 4,229 crore, leading to divestment of 10 per cent Government of India stake in the 100 per cent government-owned defence air craft manufacturer, developer and service provider.

The IPO price band has been fixed at Rs 1,215 to Rs 1,240 per equity shares of face value of Rs 10 each.

The public offer opens on March 16 and closes on March 20.

Small cars have higher insurance loss ratio than SUVs

Insurance companies generally tend to believe that SUVs or mini-SUVs would have higher loss ratio and hence they price the premium accordingly, while they overlook the potential of small cars to make claims. But a study has found that SUVs like Scorpio or Fortuner have lesser loss ratio compared to ones like Eon, Alto and Celerio.

Topsy-turvy ride for bank stocks since recap plan

It has been a roller-coaster ride for PSU banks ever since the government announced the recapitalisation plan on October 25 last year. State-owned lenders had recorded gains of 20 to 50 per cent that day.

BSNL, Air India, MTNL worst performing PSUs

Energy giants Indian Oil, ONGC and Coal India are money-spinners among the government-run companies, while telecom behemoths BSNL and MTNL and national carrier Air India continue to drill holes in the exchequer.

Finance Bill to make govt stand clear on LTCG tax

The government on Tuesday said it has not taken any decision on the representations demanding withdrawal of long-term capital gain (LTCG) tax reintroduced in Budget 2018. In a written reply to the Rajya Sabha, minister of state for finance Shiv Pratap Shukla said: “Representations have been received requesting for withdrawal of the proposal to introduce tax on LTCG on listed securities through Finance Bill, 2018.”

Trai bets big on 5G potential, cautious on base pricing

Telecom regulator Trai on Tuesday said it is in consultation with various agencies to work out the 5G spectrum base price in the absence of any domestic benchmark as these bands would be auctioned for the first time in the country.

“There are certain bands which will be auctioned for the first time. There are no domestic benchmarks available for this. So we are working with various agencies to come to a decision on the pricing,” RS Sharma, chairman, Telecom Regulatory Authority of India (Trai), told Financial Chronicle.

Nifty may extend gains

Technical view

Sameet Chavan, chief analyst-technical & derivatives, Angel Broking, said: “In line with the massive rally in US bourses on Friday, our market opened higher to surpass the 10,300 mark in the initial trades...

Big bounce day

The domestic market staged a strong bounce back on the back of firm global cues and short covering in the latter half of the trading session, taking the Sensex higher by 600 points and the Nifty up nearly two per cent to reclaim the 10,400 range.

After falling by 10 per cent from the all-time high levels over the past month, the rally in the market has come as a big relief to the investors.

Almost all the sectoral indices participated in the surprise up-move that was led by strong buying in index heavyweights ITC, HDFC and Reliance Industries.

Tata Sons plans to raise Rs 8.2K cr via TCS share sale

Tata Sons, the promoter of major operating companies of the Tata group, is planning to raise around Rs 8,200 crore by selling stake in IT major TCS, according to investment banking sources. Tata Sons is looking to sell around 2.83 crore shares amounting to about 1.48 per cent stake in TCS and the transaction is likely to be happen this week, the sources added. When contacted, Tata Sons declined to comment.