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ACC Ltd.'s 12-month calendar-year closing has been changed to 15 months i.e. till March 2023
New promoters took over the company on Sept. 16, 2022 wherein the cash and cash equivalent was Rs. 4,019 crore.
Source: Exchange filing
Indian benchmarks were trading diverged towards the end of market close.
Sensex went up 0.29%, while Nifty 50 was largely flat.
Source: Bloomberg
The broader market indices traded higher; S&P BSE MidCap was up 0.06%, whereas S&P BSE SmallCap was higher by 0.85%.
Thirteen out of the 20 sectors compiled by BSE declined, while seven advanced in trade.
The market breadth was skewed in favour of the bulls. About 1,811 rose, 1,526 declined and 138 remained unchanged on the BSE.
Torrent, with Rs 8640 crore, had emerged as the highest bidder in the Dec 2022 auction.
The extended challenge mechanism, proposed by CoC, is in violation of the Insolvency Code, says NCLT.
Torrent investments had approached the NCLT to prevent the CoC from considering a revised bid by the Hinduja Group.
The launch is in collaboration with ICICI Bank and Kotak Mahindra Bank.
Source: Joint press event
Movements in the equity market have no impact on credit quality
SBI exposure is backed by cashflows and we have good visibility on the future cash flows
All Adani Group assets are generating strong cash
FPO event might impact future projects, but has no immediate impact for us
Regulator has sought details in the normal course of business
Source: SBI official speaking to BQ Prime anonymously
IDFC First Bank says funded outstanding is 0.06% of the funded assets as of December 2022.
Non-funded outstanding of 0.51% of funded assets as of December 31, 2022.
Bank says has been receiving payments as per the quarterly amortising payment schedule.
IDFC First says group’s companies have strong cash-flows and operating models.
Bank does not have any exposure to any offshore entities in Adani Group or against the shares of Adani Group companies.
Bank says it continues to bring down exposure to top 10 group borrowers.
Source: Exchange filing
The yield on the 10-year bond opened lower by three bps at 7.25% on Thursday. It closed at 7.28% on Wednesday.
Source: Bloomberg
The local currency strengthened by 12 paise to 81.82 rupees at open against the greenback on Thursday. It closed at 81.94 on Wednesday.
Source: Bloomberg
Yesterday’s decision of FPO withdrawal would have surprised many.
Decision will not have any impact on our existing operations and future plans.
Will continue to focus on long term value creation and growth will be managed by internal accruals.
Once the market stabilises, we will review our capital market strategy.
Source: Gautam Adani address to shareholders
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