Banks and NBFCs: The Reserve Bank of India has made consumer lending costlier for banks and non-bank lenders and also asked them to limit exposure to such loans amid growing risk concerns. Consumer loans will attract a credit risk weight of 125% as compared with 100% earlier. For NBFCs, too, consumer loans will attract a risk weight of 125%.
JSW Steel: The company said it has withdrawn the application to surrender one of its iron ore mines in Odisha’s Keonjhar, citing demand and supply scenarios.
JSW Infrastructure: The company has received a letter of award from the Karnataka Maritime Board for the development of an all-weather, deep-water, greenfield port at Keni in Karnataka on a PPP basis. The estimated cost of the project is Rs 4,119 crore, with an initial capacity of 30 MTPA.
InterGlobe Aviation: IndiGo continued to dominate Indian skies with a 62.6% market share in October, as per domestic air traffic data.
SpiceJet: The airline improved its market share to 5.5% in October.
Delhivery: Softbank-backed SVF Doorbell (Cayman) has sought to sell stakes through block deals at Rs 403.5–413.85 apiece, as per Bloomberg. It holds a 14.46% stake as of Sept. 31.
Axis Bank, Manappuram Finance: The RBI imposed a monetary penalty of Rs 90.92 lakh on Axis Bank and Rs 42.78 lakh on Manappuram Finance for violation of certain directions of the banking sector regulator.
TVS Motor: The company announced its entry into Europe by signing an agreement for import and distribution with Emil Frey.
PNB Housing Finance: The board will meet on Nov. 24 to consider the issuance of NCDs up to Rs 3,500 crore on a private placement basis in tranches over the next six months.
SJVN: The company has signed a power purchase agreement for a 200 MW wind power project with Solar Energy Corp. of India at a cost of Rs 1,400 crore. With the allotment of this project, the wind portfolio now stands at 497.6 MW.
IRB Infrastructure: Moody’s affirmed the company’s Ba1 CFR and India Toll Roads’ Ba2 senior secured rating and maintained the stable outlook for both ratings. The company’s assets benefit from long-term concession agreements that allow for regular toll rate adjustments and provide several protective measures against unexpected adverse events, the agency said.
Redtape: Unit Redtape HK has incorporated a subsidiary by the name of Redtape London.
Coromandel International: The company unveiled its Coromandel Nanotechnology Centre at Coimbatore, Tamil Nadu, which will support its efforts towards the development of a wide range of nano-enabled agro-inputs for plant nutrition and crop protection.
Genus Power Infrastructure: The company has incorporated a wholly-owned step-down subsidiary, namely ‘Purvanchal Eav-3 Smart Metering’, for the manufacturing of all types of smart/advanced/ prepaid metres.
Technocraft Industries (India): The company will discontinue the production of Milange Yarn at its Milange Yarn unit located in Murbad, Maharashtra, due to adverse market conditions and losses. During FY23, the revenue contribution from this unit was 5.69% of total revenue.
DCX Systems: The board approved raising funds of up to Rs 500 crore in one or more tranches by way of public issue, preferential issue, rights issue, private placement, qualified institution placement(s), and/or any combination.
Brigade Enterprises: The company signed a joint development agreement with Krishna Priya Estates and Micro Labs for a residential housing project in Bengaluru for Rs 2,100 crore. It will develop around 2 million square feet of residential housing in Yelahanka, which is spread over 14 acres.