The stock surged 19.14 per cent to Rs 20.85 in intra-day trade, but later trimmed most of the early gains to settle at Rs 18.70, up 6.86 per cent on BSE.
Shares of Rcom surged 20%, after NCLAT stayed bankruptcy proceedings against the company after it agreed to pay Rs 550 crore to Ericsson to settle a payment dispute.
NCLAT in New Delhi has asked RCom to pay Ericsson 5.5 billion rupees ($81.52 million) by end-September as part of the settlement.
NCLAT allowed Vedanta Ltd to make an upfront payment of Rs 5,320 crore to lenders for acquisition of Electrosteel Steels.
Company law appellate tribunal today asked Tata Steel if it will clear the statutory dues like income tax and GST of Bhushan Steel.
RCom offered an upfront payment of Rs 500 cr to its operational creditor Ericsson, which has got an insolvency order against the Anil Ambani group firm.
India’s bankruptcy appeals court delayed a hearing of Reliance Communications’ (RCom) plea seeking to overturn insolvency proceedings against the company to Wednesday.
The NCLAT will hear the plea of RCom which has challenged NCLT's decision to start insolvency proceedings against it on a petition by Ericsson.
Essar Steel lenders have moved NCLAT seeking an early hearing of appeals filed by suitors for the insolvency-bound firm.
NCLAT asked CoC of Bhushan Power & Steel to proceed with the bids submitted by Tata Steel and UK-based Liberty House.
Mulls 1:1 Bonus Share Issue
CITY UNION BANK
To Issue 1:10 Bonus Shares; Record Date At July 11
Approved Bonus Issue Of 1:2; Record Date At June 27
Arm Buys Under-Construction Asset For Rs 234 Cr In Indore At Auction
Brownfield Acquisition To Add Approx. 1.1 Mn Sq. Ft. To Co's Retail Portfolio
Co In Pact To Buy 95% Of Climate Tech Pty, Australia
Deal Size Stands At Rs 201-211 Cr In Valuation
JLR Investor Presentation:
Have Exciting Products, Plans In The Pipeline To Generate Sustainable Growth
Aiming For A 4-7% EBIT Margin Over Medium Term, Will Invest 4.5 Bn GBP In FY19-21
Aiming For A 7-9% EBIT Margin Over Long Term
Long Term Investment Pegged At 12-13% Of Revenue
Retail Volume Grew By 1.7% & Revenue Grew By 6% In FY18
Also Launched Jaguar I-Pace As Co's First All Battery Electric Vehicle
To Set Up 5 Lk KL/Annum Plant At Visakhapatnam For Rs 1,785 Cr
To Set Up 6 Lk KL/Annum Plant In Mysore For Rs 2,300 Cr
Co's International Business Did Not Perform Well In FY18
Economy & Inflated Currency Hit Co's Egyptian Operations
To Launch Generic Tadalafil After Filing ANDA With USFDA
Sterile Drug Product Manufacturing Facility In Bengaluru Receives EIR From USFDA
USFDA's Pre-Approval & Inspection Of Facility Done In April & May 2018
EIR Notifies That The Inspection Stands Closed
Co Committed To Global Standards Of Quality & Compliance
Dr Reddy's Loses Patent Case With Eli Lilly Over Alimta
Co Cannot Launch Its Alternative Salt Forms Until The Eli Lilly Patent Expires
The U.S. District Court For The Southern District Of Indiana Ruled In Favour Of Lilly
The Eli Lilly Patent Expires In May 2022