RIL's rights issue to make a debut on BSE, NSE next week

Agencies
June 12, 2020

Mumbai, Jun 12: Following an overwhelming response for the mega rights issue of Mukesh Ambani-owned Reliance Industries, the partly paid-up rights shares are set to debut on stock exchanges on June 15.

The biggest ever Rs 53,124 crore rights issue was subscribed 1.59 times and received bids worth Rs 84,000 crore on June 3.

Reliance said the rights issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign.

In 2019, Ambani said in the Reliance's annual general meeting that the company will be net zero debt by March 2021. The company is on course to achieve its target ahead of the deadline.

"In spite of the COVID-19 crisis and the lockdowns, the due-diligence by Saudi Aramco for the planned investment in the O2C business is on track as both the parties are committed and actively engaged," he said recently.

"With a strong visibility to these equity infusions, Reliance is set to achieve net zero debt status ahead of its own aggressive timeline. We believe rights issue was a part of the company's strategy of deleveraging its balance sheet," said Ambani. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 3,2020

Mumbai, Jul 3: In yet another move to keep Chinese technologies companies at bay, the Centre has cancelled the 4G upgradation tender for BSNL as it has decided to come up with fresh specifications for the upgrade process, sources said.

The Department of Telecommunications (DoT) is likely to issue a fresh tender in the next two weeks.

People in the know said that the fresh tender may not allow Chinese companies to participate and that the new tenders that will be floated in the next two weeks will emphasise on Make in India.

As the border tussle with China escalated last month and around 20 soldiers lost their lives, the government had last month asked both BSNL and MTNL not to use equipment of Chinese makers in their upgrading process to 4G facilities.

Huawei and ZTE are the major Chinese telecom equipment makers working with Indian telecom companies and they would be the hardest hit by the decision.

The impact may be felt in terms of the much-awaited 5G trials in the country. After much deliberation, the Centre last December decided to allow Huawei to take part in the 5G trials.

The cancellation of tender for BSNL's 4G upgradation comes after the Centre on Monday banned 59 Chinese apps including TikTok, WeChat and UC Browser.

A statement by the Ministry of Electronics and IT said that the decision was taken since "there is credible information that these apps are engaged in activities which are prejudicial to sovereignty and integrity of India, defence of India, security of state and public order".

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
June 7,2020

New Delhi, Jun 7: The Government of India (GoI) must strengthen the laws to protect animals, said People for the Ethical Treatment of Animals (PETA) India CEO Dr Manilal Valliyate on Sunday, following an elephant's death in Kerala and cow injured due to ingestion of explosives in Himachal Pradesh.

"Such incidents are not just restricted to certain regions but are happening all across the country. PETA receives more than 100 similar cases every day. People send in their complaints to us, not just for cows and elephants but for so many other animals as well," he said.

The PETA chief urged the GoI to strengthen the laws established to protect animals.

"As per the current laws set out against animal cruelty, the perpetrator would only be charged Rs 50,000 as a fine. That is equivalent to no punishment at all," added PETA India CEO.

He expressed his anguish against municipal agencies as well, saying that they are not doing "serious" work. He also highlighted how cows are left on the roads to wander, after milking them, to feed on garbage, in several parts of the country.

"These injustices against animals through explosives has been going on for quite a while. But for the first time, it has received such public attention," he said.

After a pregnant elephant was fed cracker-filled pineapple and her eventual death on May 27 in Kerala's Palakkad district, a pregnant cow sustained fatal injuries on May 25 due to accidental ingestion of explosives in Dadh village of Bilaspur district of Himachal Pradesh.

One person has been arrested in the Dadh village for allegedly hurting the cow.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
March 18,2020

Thiruvananthapuram, Mar 18: To raise awareness about protective measures against coronavirus, Kerala Police released a dance video on the State Police Media Centre's Facebook page promoting the washing of hands, here on Tuesday.

In the video, the police officers were seen dancing to the tunes of Kalakkatha from the Malayalam action-drama thriller Ayyappanum Koshiyum while demonstrating the right technique for washing hands.

The video gained over 27,000 likes and over 2,400 comments and more than 33,000 netizens shared the video.

The video has received a positive response with users congratulating Kerala Police for the initiative.

"Congrats Kerala police media for this kind of initiative," one user commented on Facebook. Another user thanked the police in the comments section saying, "Super super thanks to KL (Kerala) police."

The number of people who have tested positive for the coronavirus in Kerala is 25.

The total number of confirmed COVID-19 cases in India has reached 147, including 122 Indians and 25 foreign nationals, said the Ministry of Health and Family Welfare earlier today.

Globally, the virus has infected more than 184,000 people and killed more than 7500, as per the data available on the World Health Organisation website.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.