Business & Finance News Updates
Adani Breaks Record as Indian Port Operator
Gautam Adani's company has become the first Indian port operator to handle cargo movement of 200 million tonnes (MT) in 2018-19. The announcement was made by the Adani Port and Special Economic Zone (APSEZ) on March 27, 2019.
PNB Fined Rs. 2 crore
The Reserve Bank of India has imposed a fine of Rs 2 crore on Punjab National Bank in violation of compliance in SWIFT (Society For Worldwide Interbank Financial Telecommunications) operations.
IOC-BPRL Win Oil Block
Indian Oil Corporation announced that along with its partner Bharat Petro Resources Ltd (BPRL), it won an oil block in Abu Dhabi on March 25, 2019. The two will now invest USD 170 million for the exploration activities. IOC- BPRL won the block in Abu Dhabi's first-ever competitive bid round.
Vodafone Idea Board Approves Rs. 25,000 crore Rights Issue
The Vodafone Idea Limited (VIL) board approved a Rs 25,000-crore rights issue, one of the largest in Indian markets. The shareholders will be able to buy 87 shares for every 38 held at a 60 per cent discount to the current stock price, for an issue price of Rs 12.50 a share..