Bandhan Bank to invest ₹300 crore in Yes Bank

MUMBAI: Private sector lender Bandhan Bank on Saturday said it will invest ₹300 crore in Yes Bank under the bank’s reconstruction scheme, taking the total investment proposal to ₹10,650 crore. The bank said it will acquire 30 crore equity shares of ₹2 each at a premium of ₹8 per equity share, constituting less than 5% of the new issued and paid-up equity share capital of Yes Bank. “As per the Scheme of Reconstruction, 75% of the total investment of the bank would be locked in for three years,” Bandhan Bank said in a regulatory…

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Investment in equity mutual funds drops 41% to Rs 75,000 crore in 2019

Investors pumped in nearly Rs 75,000 crore in equity-oriented mutual fund schemes in 2019, a sharp plunge of 41% from the preceding year, mainly hit by extreme market volatility amid slowing economic growth. Experts, however, are of the view that equity schemes will attract investor interest this year as the market is expected to perform well. “While volatility in the market may continue for some more time going forward, we believe investors will want to benefit from this volatility and use it to create and growth their wealth. As we…

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Investment projects worth Rs 65,000 crore to be announced in second ground breaking ceremony

Union Home Minister Amit Shah will inaugurate the two-day second ground breaking ceremony in Lucknow on Sunday. (Image | PTI) Union Home Minister Amit Shah will inaugurate the two-day second ground breaking ceremony in Lucknow on Sunday which will see the launch of more than 250 projects worth Rs 65,000 crore. Speaking to India Today, state industrial development minister Satish Mahana said “The first ground breaking ceremony last year was highly successful and this time again more than 250 projects worth around Rs 65,000 crore rupees will be announced in…

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US firm Vanguard Group made Rs 1,294 crore investment in 10 stocks, in single day; do you own any?

The Vanguard Group Inc, the US-based investment management company, invested nearly Rs 1,300 crore in a single day on March 15 when the Nifty50 closed at fresh six-month high. The investment firm through its Vanguard Emerging Markets Stock Index bought equity stake in 10 Indian companies through open market transactions. As per the bulk deal data published on National Stock Exchange, 10 stocks where the firm purchased equity shares are Aarti Industries, Bata India, Castrol India, DCB Bank, NIIT Technologies, RBL Bank, TeamLease Services, TTK Prestige and V-Guard Industries. Vanguard Emerging Markets Stock Index bought shares worth Rs 1,294 crore,…

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Godrej Appliances lines up Rs 500 crore investment

KOLKATA: India’s largest home grown white goods maker, Godrej Appliances plans to invest Rs 500 crore over the next three years to expand capacity and set up a new plant in Pune in a move aimed at completely localising its production process right till the component level. The company’s business head Kamal Nandi said the proposed investment will be to start local manufacturing of front-load washing machines, hi-end frost free refrigerators and air-conditioners, and their components which are currently largely imported. Godrej Appliances last investment was three years back to…

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Investment in 17 entities under shipping ministry hiked to Rs 5,778 crore for FY’20

The government has increased the proposed investment in 17 enterprises under the shipping ministry to Rs 5,778 crore for 2019-20 in order to boost the ‘blue economy’. The estimated investment in these enterprises that include 12 major ports is Rs 5,548.12 crore in 2018-19, according to the revised numbers in the recent budget document. The government had proposed an investment of Rs 5,079.80 crore in the Budget for 2018-19. Aspiring to be a $10 trillion economy in the next eight years, the government plans to harness India’s long 7,500-km coastline…

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