Suzlon’s Rs 1,200 cr rights issue launched, company aims to cut down debt

New Delhi Oct 11 (IANS) Suzlon Energy’s rights issue worth Rs 1,200 crore opened on Tuesday, under which fresh equity shares are offered by a company to existing shareholders. These shareholders will get the right to buy fresh shares using their ‘Rights Entitlement’. The closing date for the rights issue is October 20. Meanwhile Suzlon’s … Read more

Small-Cap Dairy Stock Spikes 10% on Rights Issue Approval: Record Date & More

By Malvika Gurung — Shares of the leading private sector dairy company Heritage Foods (NS:) soared over 16% on Friday, ending the session 9.24% higher at Rs 340 apiece. The stock rallied after the small-cap company’s board approved fundraising through a rights issue in a 1:1 ratio at a meeting held on Sept 30. The … Read more

Mumbai Metro-3 ‘sells’ naming rights for 5 stations for Rs 216 crore

Mumbai, Sep 21 (IANS) In an innovative move, the Mumbai Metro Rail Corporation Ltd. (MMRCL) has awarded naming rights for five stations on the Colaba-BKC-SEEPZ Metro-3 line for a whopping Rs 216 crore, a top official said here on Wednesday. The non-fare revenue benefit shall be available for a period of five years from the … Read more

Pvt companies required to deduct tax at source while issuing bonus or rights shares

New Delhi, Sep 13 (IANS) The Central Board of Direct Taxes (CBDT) on Tuesday issued another circular to further clarify issues arising on deduction of tax at source under the newly-inserted Section 194-R in respect of benefits or perquisites provided to residents in cash or in kind in the course of business or profession. As … Read more