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NTPC to seek shareholder nod to raise Rs 15K crore, hike borrowing limit
Posted on 22nd July 2019
State-owned National Thermal Power Corporation will seek shareholders' approval to raise Rs 15,000 crore through issuance of bonds or debentures and to raise borrowing limit to Rs 2 trillion, next month.

The company will seek shareholders' nod through a special resolution to raise funds up to Rs 15,000 crore through issue of bonds/debentures on private placement basis in domestic market.

The funds raised will be used for capex, working capital and general corporate purposes, an NTPC notice for annual general meeting (AGM) said.

In addition to capital expenditure requirement, the company also needs to borrow to meet its working capital requirement which is partly proposed to be met through issuance of non-convertible bonds, it added.

NTPC will also seek shareholders' approval to increase borrowing limit of the company from Rs 1.5 lakh crore to Rs 2 trillion.

The next AGM is scheduled for August 2nt1, 2019.

The company said that as per estimates, on the basis of capital outlay envisaged, the proposed debt requirement of both ongoing projects and new projects up to 2022 will be about Rs 2 trillion, which will exceed paid up share capital, free reserves and securities premium of the company.

Related Companies: NTPC Limited   

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Govt gives sugar mills time till Dec 31 to export last year's balance quota
Posted on 11th November 2019
The government on Monday gave sugar mills three months more till December to export the last year's balance quota of the sweetener.

Mills were able to export about 3.8 million tonne of sugar during the 2018-19 marketing year (October-September) due to depressed market conditions, against the target of 5 million tonne under the Minimum Indicative Export Quota (MIEQ) scheme.


India smartphone shipments rise 9.3% in Q3; Xiaomi leads the list
Posted on 11th November 2019

Multiple online sales festivals, new launches and price corrections on a few key models by brands helped smartphone shipments in India grow 9.3 per cent in the July-September quarter to touch record 46.6 million units, research firm IDC said on Monday.

Sequentially, Smartphone shipments were higher by 26.5 per cent in the third quarter ended September 2019 compared to the previous quarter. IDC expects the smartphone market to see only mid-to-high single-digit year-on-year growth in 2019.


Ayodhya verdict is cue for PM Modi to focus on fixing India's economy
Posted on 11th November 2019
Over the weekend, India’s Supreme Court pronounced on a title dispute in Ayodhya, a small town in India’s northern state of Uttar Pradesh. Like many other property cases in India, this one had been working its way through the judicial system for decades. But it may be the most consequential such dispute in Indian history.

Millions of Hindus believe Ayodhya was the capital of Ram, an avatar of Vishnu and hero of the epic Ramayana, and the dispute was over rights to the site where Hindus say a 16th century mosque was built over Ram’s birthplace.


Auto slowdown: Car sales continue to slide; decline by 6.34% in October
Posted on 11th November 2019
Domestic passenger vehicle sales witnessed a marginal increase of 0.28 per cent to 2,85,027 units in October from 2,84,223 units in the year-ago period.

Domestic car sales were down 6.34 per cent to 1,73,649 units as against 1,85,400 units in October 2018, according to data released by the Society of Indian Automobile Manufacturers (Siam).


Shiv Sena MP Arvind Sawant resigns from Union Minister post
Posted on 11th November 2019
Union Minister of Heavy Industries and Public Enterprises and Shiv Sena MP Arvind Sawant today resigned from his ministerial post, amid the political developments in Maharashtra. Sawant was sworn in after the 2019 Lok Sabha elections, the lone Union Minister from Shiv Sena.

At 8:00 AM, news agency ANI posted an update, quoting Sawant, who said, I am resigning from my ministerial post, thereby confirming the earlier reports of him possibly resigning and the Sena quitting ties with the NDA alliance at the centre.


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