Funds

India has told Pakistan that the designs of the Pakal Dul and the Lower Kalnai hydropower projects in Jammu and Kashmir, over which Islamabad raised objections, are fully compliant with the provisions of the Indus Water Treaty. The two-day meeting between India and Pakistan under the Indus Waters Treaty concluded here on Wednesday, during which Islamabad raised objections over...

The National High Speed Rail Corporation Limited (NHSRCL) on Monday signed a contract agreement for procurement and fabrication of 28 steel bridges with the L&T-IHI consortium for the 508 km Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor, popularly known as the Bullet train project. An NHSRCL spokesperson said that a contract agreement has been signed with the L&T-IHI, which is a...

Transaction auditor Grant Thornton, in a report shared with the Administrator of DHFL, has found certain transactions which are undervalued, fraudulent and preferential in nature, putting the newly-discovered fraud at ₹6,182 crore. The Administrator of Dewan Housing Finance Company Ltd, appointed under the Insolvency and Bankruptcy Code, 2016 to carry out the duties under it, obtained assistance from reputed professional agency, Grant Thornton to conduct investigation...

The National High Speed Rail Corporation Limited (NHSRCL) on Friday opened the technical bids for the construction of Sabarmati Maintenance depot for 508-km Mumbai-Ahmedabad High Speed rail project, popularly known as the Bullet Train project, in which nine companies participated. An NHSRCL spokesperson here said that it had invited bids for the preparatory works for the subsequent construction of the...

A mutual fund is a pool of professionally managed funds that invest in a portfolio of securities and other money market instruments. Depending on the nature of the scheme and its investment objective, a mutual fund scheme may invest across fixed income securities, asset classes and money market instruments like company stocks, equity, company fixed deposits, debentures, commercial papers,...

Mutual funds are a pool of professionally managed funds that invest in a diversified portfolio of securities for income generation and long term capital appreciation. Every mutual fund scheme is assigned a fund manager (multiple managers in some situations), who are responsible for executing anasset allocation strategy in such a way that the scheme is able to outperform its...

L&T Finance Holdings Limited (“LTFH” or “Company”), one of the leading private sector Non-Banking Financial Companies in India*, present in businesses including rural finance, housing finance, infrastructure finance and investment management, has closed its Rights Issue to raise Rs. 2,998.61 crores (“Rights Issue”). The Rights Issue was oversubscribed by approximately 15%. On the success of the Rights Issue, Mr. Dinanath Dubhashi, Managing...

The upcoming gas import terminals in Chhara and Jafrabad in Gujarat will likely lower the utilisation levels of Petronet LNG’s Dahej station, analysts say. Noting that customers who import gas through the Dahej terminal have already started reserving volumes in the Swan terminal (Jafrabad), analysts at ICICI Securities estimate Dahej volumes to fall to 15.8 million tonne, implying 90% utilisation in FY22-24....

Titan Company on Wednesday reported a rise of 11.81 per cent in consolidated Q3FY21 net profit. Accordingly, the company’s net profit rose to Rs 530 crore from Rs 474 crore during the corresponding period of last fiscal. The sales recovery was led by an impressive festive season off-take in the jewellery division. Besides, Titan made a provision for Rs...

The government is confident that it can obtain funds for its massive 2021-22 borrowing programme at below six per cent, as the central bank has given assurances that it will provide liquidity, two senior officials told Reuters. Holding policy interest rates unchanged at record lows on Friday, Reserve Bank of India Governor Shaktikanta Das assured investors that its stance on...