CORPORATE NEWS
UPDATES
SKS Microfinance slashes interest rate by 1%
Leading microfinance firm, SKS Microfinance has said that it has gone for 1% reduction in the interest rate charged to borrowers from 20.75% to 19.75% with effect from December 7, 2015, for all future disbursals.
'With this, the company becomes the first micro finance institution to charge a sub-20% interest rate on its core Income Generating Loans ( IGL) which are unsecured micro loans,”
Ashok Leyland bags order from Cote DIvoire; stk up
Shares of Ashok Leyland rose over 3%, touching to Rs97.5, after the company said it has signed a contract with the government of Cote D'Ivoire for supply of 3,600 vehicles worth $200 million.
Welpsun Corp jumps on bagging order for onshore project
Welspun Corp gained nearly 13%, touching to Rs110.25, after the company said it has won an order for supply of @ 216 K MTs line pipes for an onshore project in Americas.
With the addition of this order, current order hook of the company has crossed @ 1040 K MTs worth Rs6,400 crore.
Fortis Healthcare to acquire Religare Health Trust for Rs100 cr
Fortis Healthcare’s step down subsidiaries-Stellant Capital Advisory Services has entered into a share purchase agreement ( SPA) with RGAM investment advisors and other shareholders to acquire 100% equity stake in Religare Health Trust Trustee Manager (a company incorporated in Singapore) at consideration of $ 14.9 million (or Rs100crore).
CRISIL revises EID Parry India's credit rating
Chennai-based EID Parry India said that the credit rating agency, CRISIL, has downgraded its credit rating for long term bank facilities and debt programmes to 'CRISIL A+/Stable' from 'CRISIL AA-/Stable'.
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