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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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SBI, IFCI, United Bank scout for buyers to clear off Rs16,349 crore NPA

SBI has asked the bidders to submit expression of interest by 9 March 2018 and further to complete the due diligence by 22 March. Photo: Indranil Bhoumik/Mint New Delhi: State-owned State Bank of India (SBI), United Bank of India (UBI) and long-term infrastructure lender IFCI are looking for buyers to sell as many as 110 accounts that have turned dud to recover dues over Rs16,349 crore. All the three have invited bids today from eligible banks, financial institutions, asset reconstruction companies (ARCs) and non-banking financial companies (NBFCs) to prune such non-performing…

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Mahindra Group to invest Rs 2,325 crore in Maharashtra

The Mahindra Group today announced over Rs 2,300 crore investment in the state in three projects of which as much as Rs 1,700 crore will be spend towards creating an entertainment destination at Kandivali, a northwestern suburb of the megapolis. Addressing the Magnetic Maharashtrainvestor summit here this evening Mahindra group chairman Anand Mahindra said his software company Tech Mahindra will invest Rs 125 crore to create an all-green tech hub in Nagpur that will create ate least 2,500 jobs. On the Rs 1,700-crore investment announced in the city, Mahindra said, “we are exploring to set…

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UBI Posts Rs. 637.53 Crore Net Loss In Q3

United Bank of India’s operating profit saw a 65.76 per cent fall to Rs. 181.53 crore Kolkata: State-run United Bank of India (UBI) on Monday reported a net loss of Rs. 637.53 crore for the quarter ended December 31, 2017, as compared to a net profit of Rs. 64.10 crore for the a year-ago period. The net loss for the quarter was on the back of sharp fall in operating profit and a huge increase in provisions to cover rising bad loans.During the quarter ended December, the bank’s operating profit saw a 65.76 per cent fall to Rs. 181.53…

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