MUMBAI - Magma Fincorp, said on Thursday it has acquired home loan portfolios from GE Capital India, a unit of General Electric Co.
The non-banking finance company signed definitive agreements to acquire GE Money Housing Finance and the entire home equity loan portfolios of GE Money Financial Services, Magma said in a filing to the Bombay Stock Exchange.
Birla Sun Life Mutual Fund filed a new close infrastructure debt fund scheme named “Birla Sun Life Infrastructure Debt Fund - Series A & Series B.” The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. According to the offer document filed with SEBI, the entry load is nil while exit load is not applicable implying that the
Continuing its gaining momentum for the third consecutive day post second quarter numbers, shares of Amara Raja Batteries, one of India's leading conglomerates, gained another 3 per cent on the Bombay Stock Exchange. Shares of the company jumped over 13 per cent in the last three trading session following Q2 numbers. The company has reported 35 pe
By Devidutta Tripathy and Nigam Prusty
NEW DELHI - The cabinet approved a plan to levy a $5.7 billion surcharge on airwaves held by long-established telecommunications operators that will hit market leaders Bharti Airtel and Vodafone's local unit and two state-run carriers the most.
A ministerial panel had proposed to the cabinet that GSM-based ca
Weighed down by the second quarter numbers, shares of world's largest value-added service (VAS) company, OnMobile Global plunged 6 per cent on the Bombay Stock Exchange. The company has reported a decline of 87 per cent in its net profit on year-on-year (yoy) basis at 6.22 crore for the three months period ended September 2012. Reacting to the nu
Buoyed by the better-than-expected second quarter numbers, shares of Mangalore Chemicals & Fertilizers, the only manufacturer of chemical fertilizers in the state of Karnataka, soared over 6 per cent on the Bombay Stock Exchange. The company has reported a growth of 82 per cent in its net profit on year-on-year (yoy) basis at 56.4 crore in the thr
MUMBAI - Shares in Tata Motors gained the most in two months after the auto maker reported that July-September margins at its key Jaguar Land Rover (JLR) subsidiary improved.
Shares in Tata Motors, which depends on JLR for 90 percent of the group's profit, rose 5.1 percent as of 11:37 a.m., and were headed for their biggest gain since September 12. The broader NSE
By Anurag Kotoky
NEW DELHI - Concerns over the future of India's debt-ridden Kingfisher Airlines intensified on Thursday after the grounded carrier provided no concrete recovery plan even as a deadline to raise cash loomed large.
Kingfisher, grounded for more than a month after a violent staff protest and concerns about safety, widened its quarter
MUMBAI - Mahindra & Mahindra Financial Services, which provides financial services in the rural and semi-urban areas, launched a share sale on Wednesday to raise about $160 million, two sources with direct knowledge of the situation said.
The company is selling shares to institutional investors in the price band of 881-889 rupees a share, said the sources, declini
Riding high on the robust second quarter numbers, shares of Emami Ltd, an Indian producer of fast moving consumer goods (FMCG), soared over 5 per cent, hitting 52-week high, on the Bombay Stock Exchange. The company has reported a growth of 17 per cent in its year-on-year (yoy) consolidated net profit at Rs 59 crore for the quarter ended September 201
Shares of Vijay Mallya led troublesome carrier Kingfisher Airlines plunges nearly 5 per cent on Bombay Stock Exchange after its net loss widened for the quarter ended September 30, 2012. The company in its second quarter numbers has widened its net loss to Rs 753.55 crore, as against the net loss of Rs 468.66 crore in the year-ago period. Reacting to
Buoyed by the strong second quarter numbers, shares of country’s leading automotive manufacturing company Tata Motors jumped over 3 per cent on the Bombay Stock Exchange. The company has reported 11 per cent year-on-year growth in its Q2 earnings result with net profit rising to Rs 2,075 crore, despite the domestic market remained under pressure
Country’s leading non-banking financial company Magma Fincorp Ltd today said that it has signed definitive agreements to acquire 100 per cent equity share capital of GE Money Housing Finance, an affiliate of GE Capital India engaged in housing finance with Rs 660 crore loan assets and around Rs 193 crore net worth as on March 31, 2012. Additiona