PSU banks to get Rs2,375-cr capital infusion
As
many as three public sector lenders including Bank of India and Central Bank of
India received the approval from government for capital infusion of up to
Rs2,375 crore. The government of India has conveyed their approval to infuse
capital funds to the tune of Rs1, 150 crore in the banks by way of preferential
allotment of equity shares in favour of government of India.
This
is part of the government's plans to infuse Rs5, 050 crore in the public sector
banks. Besides, Allahabad Bank will get Rs690 crore while another public sector
lender Central Bank of India will get fund infusion of Rs535 crore by way of
preferential allotment of equity in favour of the government of India.
ZEEL to reorganize channel distribution, advertisement sales
functions
Zee
Entertainment Enterprise Ltd (ZEEL) will reorganize its channel distribution
and advertisement sales functions.
The
board of the company has in-principle approved the proposal of reorganization
of channel distribution function, which is presently handled by its
wholly-owned subsidiary Taj Television.
Tata Steel puts entire UK biz for sale; stk gains
Shares
of Tata Steel rose nearly 7%, touching to Rs325, after the company said it was
exploring options to restructure its portfolio, including the potential
divestment of Tata Steel UK, in whole or in parts.
The
company said it had incurred heavy losses on the UK business in the past 12
months and the recent transformation plan prepared by the European subsidiary,
Strip Products UK, was unaffordable as it demanded 'material funding' support
in the next two years.
Cadila Healthcare gets USFDA nod for dextroamphetamine sulfate
Cadila Healthcare’s US subsidiary Nesher Pharma gets USFDA nod for
dextroamphetamine sulfate used to treat hyperactivity disorders and narcolepsy
– Positive for Cadila.
TVS Motor gains on launching new product in 4 states
TVS
Motor surged over 3%, touching to Rs326.1, after company had launched its new
four strokes TVS XL 100 in Madhya Pradesh, Andhra Pradesh, Telangana and
Maharashtra during the current month.
On
March 16, the company announced that it has made an arrangement with e-commerce
major Snap deal to sell its two-wheelers online.
