Latest news with #LODR
Business Upturn
14 hours ago
- Automotive
- Business Upturn
Western Carriers secures Rs 27.73 crore work order from Jindal Stainless for trailer movement at Jajpur plant
By Aditya Bhagchandani Published on June 4, 2025, 13:28 IST Western Carriers (India) Limited has announced the receipt of a significant work order from Jindal Stainless Limited (JSL), valued at approximately Rs 27.73 crore. The contract pertains to the hiring of trailers on a trip basis for container movement within JSL's plant located in Jajpur, Odisha. According to the company's filing with BSE and NSE under Regulation 30 of SEBI (LODR) Regulations, the agreement will span a duration of two years. The nature of the contract focuses exclusively on domestic operations, with no related party involvement reported. This work order is expected to strengthen Western Carriers' logistics footprint in the industrial transport sector, particularly in handling operations for large-scale clients in the stainless steel industry. The company confirmed that the deal was secured through standard commercial procedures and does not fall under related party transactions. The development reflects Western Carriers' continued momentum in securing high-value domestic logistics contracts, further reinforcing its position in the container transport and trailer hire segment. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
3 days ago
- Business
- Business Upturn
Coal India's May 2025 production drops 8.5% YoY to 63.5 MT; April-May cumulative output down 7%
By Aditya Bhagchandani Published on June 2, 2025, 14:25 IST Coal India Limited (CIL) reported a year-on-year decline in coal production and offtake for May 2025 and the cumulative April-May 2025 period. According to the provisional data submitted by the company to stock exchanges, CIL produced 63.5 million tonnes (MT) of coal in May 2025, down from 69.4 MT in May 2024—a decline of 8.5%. For the April-May 2025 period, the production stood at 125.6 MT, registering a 7% fall compared to 133.7 MT in the same period last year. The offtake performance also reflected a downturn. Coal dispatches in May 2025 were 64 MT, marginally below the 64.4 MT recorded last year. For April-May combined, offtake was 128.5 MT, down 3.9% from 133.7 MT in the corresponding period last year. Among subsidiaries, SECL, MCL, and NCL were the largest contributors, while most entities including BCCL, WCL, and NEC reported declines in both production and dispatch volumes. This report was shared for regulatory compliance under SEBI's Listing Obligations and Disclosure Requirements (LODR), 2015. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Economic Times
3 days ago
- Business
- Economic Times
Yes Bank shares jump 6% on fundraising buzz; board meet set for June 3
Live Events Details of stake transactions SMBC's expansion plans (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Yes Bank surged 6% to Rs 22.86 on the BSE in Monday's trade after the bank announced that its Board of Directors will meet on Tuesday, June 3, 2025, to consider raising capital through equity shares, debt securities, or other financial to a company filing dated May 28, the proposed fundraising could be carried out via private placement, preferential allotment, or other approved routes, subject to the necessary regulatory and shareholder development follows State Bank of India 's recent disclosure of its plans to sell a substantial portion of its 23.97% stake in Yes Bank to Japan's Sumitomo Mitsui Banking Corporation (SMBC). SBI is expected to offload up to 20% of its holding, while SMBC is likely to inject additional capital equivalent to a 6–7% the deal materialises, SMBC may be required to make an open offer, potentially increasing its stake in Yes Bank to as much as 51%. This would mark a significant shift in the bank's ownership and control part of the agreement, SMBC is also committed to participating in any equity issuance by the bank to maintain its 20% Bank has formally notified the stock exchanges of the upcoming board meeting under SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The bank has also closed its trading window for designated persons and their relatives from May 29 to June 5, 2025, in accordance with the SEBI (Prohibition of Insider Trading) Regulations and its internal May 9, Yes Bank had announced that SBI would sell 13.2% of its stake to SMBC, while a group of other Indian banks — HDFC Bank Federal Bank , and IDBI Bank — which collectively held 9.7%, would divest 6.8%.Post-transaction, SBI would retain a 10.8% stake in Yes Bank. SBI had earlier invested Rs 10,000 crore in 2020 to rescue the lender and is now preparing for a gradual sources suggest SMBC may seek to merge Yes Bank with its NBFC arm, SMFG India Credit (formerly Fullerton India Credit), subject to RBI approval. If approved, SMBC would hold majority stakes in both a private bank and an NBFC — a structure that may raise regulatory questions due to overlapping business the transaction, SMBC will have the right to nominate two directors to Yes Bank's board, while SBI will retain one. SMBC, which manages $1.6 trillion in assets globally, will also have preemptive rights to maintain its pro-rata stake in any future fundraising of March 2025, Yes Bank reported a Common Equity Tier 1 (CET1) ratio of 13.5% and an overall capital adequacy ratio of 15.6%.
Business Upturn
3 days ago
- Business
- Business Upturn
Ircon International shares rise over 2% after bagging Rs 1,068 crore railway bridge contract
By Aditya Bhagchandani Published on June 2, 2025, 10:17 IST Shares of Ircon International Ltd gained over 2% to ₹194.94 in Monday's session following the company's announcement of a major order win. The stock rose after the company disclosed that it has received a Letter of Acceptance (LoA) from East Central Railway, Indian Railways, for the construction of a major railway bridge project across the Ganga river. According to the disclosure submitted under Regulation 30 of SEBI (LODR) Regulations, the contract is for engineering, procurement, and construction (EPC) of a new broad-gauge (BG) rail bridge consisting of a 2×32.086m and 33×122.0m Open Web Steel Girder span. The bridge will feature a sub-structure for double-line tracks and a superstructure for a single-line track between Bikramshila and Katareah stations. The total contract value stands at ₹1,068.35 crore and the project is expected to be completed within 1,460 days. This is a domestic works contract and does not involve any related party transactions. As of 10:13 AM, Ircon shares were trading at ₹194.94, up 2.11% from the previous close of ₹190.91. The stock hit an intraday high of ₹198, with a market cap of ₹183.26 billion. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
3 days ago
- Business
- Time of India
Yes Bank shares jump 6% on fundraising buzz; board meet set for June 3
Shares of Yes Bank surged 6% to Rs 22.86 on the BSE in Monday's trade after the bank announced that its Board of Directors will meet on Tuesday, June 3, 2025, to consider raising capital through equity shares, debt securities, or other financial instruments. According to a company filing dated May 28, the proposed fundraising could be carried out via private placement, preferential allotment, or other approved routes, subject to the necessary regulatory and shareholder approvals. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bank-Seized Cars in the Philippines at Prices You Won't Believe! SUV Deals | Search Ads Search Now Undo The development follows State Bank of India 's recent disclosure of its plans to sell a substantial portion of its 23.97% stake in Yes Bank to Japan's Sumitomo Mitsui Banking Corporation (SMBC). SBI is expected to offload up to 20% of its holding, while SMBC is likely to inject additional capital equivalent to a 6–7% stake. If the deal materialises, SMBC may be required to make an open offer, potentially increasing its stake in Yes Bank to as much as 51%. This would mark a significant shift in the bank's ownership and control structure. As part of the agreement, SMBC is also committed to participating in any equity issuance by the bank to maintain its 20% holding. Live Events Yes Bank has formally notified the stock exchanges of the upcoming board meeting under SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The bank has also closed its trading window for designated persons and their relatives from May 29 to June 5, 2025, in accordance with the SEBI (Prohibition of Insider Trading) Regulations and its internal code. Also Read: India's top 10 priciest stocks in 2025: MRF to Elcid, see who tops the list Details of stake transactions On May 9, Yes Bank had announced that SBI would sell 13.2% of its stake to SMBC, while a group of other Indian banks — HDFC Bank , ICICI Bank , IDFC First Bank , Bandhan Bank , Federal Bank , and IDBI Bank — which collectively held 9.7%, would divest 6.8%. Post-transaction, SBI would retain a 10.8% stake in Yes Bank. SBI had earlier invested Rs 10,000 crore in 2020 to rescue the lender and is now preparing for a gradual exit. Also Read: These 10 Nifty microcap stocks can rally 70-200% in the next 12 months SMBC's expansion plans Industry sources suggest SMBC may seek to merge Yes Bank with its NBFC arm, SMFG India Credit (formerly Fullerton India Credit), subject to RBI approval. If approved, SMBC would hold majority stakes in both a private bank and an NBFC — a structure that may raise regulatory questions due to overlapping business activities. Following the transaction, SMBC will have the right to nominate two directors to Yes Bank's board, while SBI will retain one. SMBC, which manages $1.6 trillion in assets globally, will also have preemptive rights to maintain its pro-rata stake in any future fundraising round. As of March 2025, Yes Bank reported a Common Equity Tier 1 (CET1) ratio of 13.5% and an overall capital adequacy ratio of 15.6%. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
