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India Inc raised $3.73 b via ECB route in January
March 02, 2021
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India Inc raised $3.7316 billion via external commercial borrowings (ECBs) under the automatic route in January 2021, about 26 per cent higher than what was raised in the preceding month. In December 2020, Indian companies collectively mopped up $2.9671 billion through ECB route.
External Commercial Borrowings are commercial loans raised by eligible resident entities from recognised non-resident entities and should conform to parameters such as minimum maturity, permitted and non-permitted end-uses, and maximum all-in-cost ceiling.
The growth in borrowing via ECBs comes in the backdrop of non-food bank credit growth slowing to 5.7 per cent on year-on-year (y-o-y) basis in January 2021 compared to 8.5 per cent in January 2020.
Techno Electric & Engineering Company Ltd, Bank of Maharashtra, Mahindra & Mahindra Financial Services Ltd and Shriram Transport Finance Company Ltd are among the other losers in the BSE s A group today, 26 February 2021.
Techno Electric & Engineering Company Ltd, Bank of Maharashtra, Mahindra & Mahindra Financial Services Ltd and Shriram Transport Finance Company Ltd are among the other losers in the BSE s A group today, 26 February 2021.
ABB Power Products and Systems India Ltd crashed 9.62% to Rs 1464.05 at 14:48 IST.The stock was the biggest loser in the BSE s A group.On the BSE, 11806 shares were traded on the counter so far as against the average daily volumes of 10089 shares in the past one month.
Shriram Transport Finance Company Ltd announces third quarter results
Posted On: 2021-01-28 08:57:58 (Time Zone: Arizona, USA)
The Board Meeting of Shriram Transport Finance Company Limited (STFC), was held today to consider the unaudited financial results for the Third quarter ended 31st December, 2020.
Financials (Standalone):
Third quarter ended 31st December, 2020:
The Net Interest Income for the Third quarter ended 31st December, 2020 was at Rs. 2,148.22 crores as against Rs. 2,113.75 crores in the same period of the previous year. The profit after tax was Rs. 727.72 crores as against Rs. 879.16 crores recorded in the same period of the previous year. The earning per share (basic) for the third quarter ended 31St December, 2020 stood at Rs. 29.54 as against Rs. 37.76 recorded in the same period of the previous year.
Shriram Automall India Limited (SAMIL), part of Shriram Group and MXC Solutions, has received the Standardisation Testing & Quality Certification (STQC) E-Procurement System (ePS) certificate from the Ministry of Electronics & Information Technology. The certificate will enable the company to foray into the Rs 50,000 crore public sector forward auction industry. After going through extensive tests for nearly three years, SAMIL has become the first private company in India to have its auction portal certified by the prestigious STQC directorate for exclusively conducting “forward auctions”, which is among the first of its kind issued by the agency, said Sameer Malhotra, CEO SAMIL. He added that STQC is an e-procurement system that is responsible for maintaining e-governance standards and related conformity according to DeitY-guidelines which are an essential requirement for various government agencies for their e-procurement needs and for various entities to conduct forward a