JSW, Greenko, Adani, Tata tapped for PTC India stake
The promoters - NTPC, NHPC, Power Finance Corp and Power Grid Corp of India - hold a combined stake of around 16% in PTC India. Damodar Valley Corp, which owns a 3.3% ownership, has also decided to divest its shareholding.
RBI seeks action against PFS Chief over alleged violations
The central bank, which went into the allegations by directors who quit complaining that the management was not cooperating to put the house in order, is said to be concurring with the forensic audit conducted by the company, which found out violations, including evergreening of loans.
Governance controversy behind us, eyeing to scale up in FY24: PTC India Financial MD
In 2023-24, the company aims to scale up loan sanction to over Rs 6,000 crore, PFS managing director and chief executive officer Pawan Singh tells Moneycontrol. Singh also says the company does not fully agree with the findings of a forensic audit by CNK & Associates
PTC India shareholders approve final dividend of Rs 5.80 per equity share
"We are also exploring opportunities in emerging areas of Green Hydrogen, Battery Energy Storage Systems through collaborations with global technology companies," Rajib K Mishra, CMD (additional charge), PTC India said.
Stocks in the news: HDFC, Dabur, IRCTC, Ipca Labs, SWSolar and telecom stocks
The telecom subscriber base in the country declined by 117 crore in October due to Vodafone Idea losing a large number of mobile customers during the month, said Trai's report. Only Reliance Jio and Bharti Airtel added new customers in October.
Corporate Radar: RCF shares to trade ex-dividend and more
Shares of Rashtriya Chemicals will trade ex-dividend in respect of its interim dividend (Rs 1.6 per share) and final dividend (Rs 2.5 per share) today. Also, shares of Sukhjit Starch (Rs 8 per share) and PTC India (Rs 5.8 per share) will go ex-dividend today.
Resignations at PTC India Financial Services put focus on governance
Three independent directors have resigned since November 22 amid allegations of mis-governance at the company. Independent directors Jayant Gokhale and Devendra Saksena resigned on December 2 while Sushama Nath resigned on November 22 after the release of the audit report earlier in the month.
Stocks in the news: Uniparts, Airtel, NTPC, Vodafone Idea, Marico and Glenmark
Uniparts India will be listed at bourses on Monday. Its Rs 835.6 crore IPO was open was open between November 30 and December 2, sold in the range of Rs 548-577. It issue was overall subscribed more than 25.3 times.
Stocks in the news: Dharmaj Crop, Infosys, Eicher Motors, TechM, IDFC First and Macrotech
Dharmaj Crop Guard will make its debut at the Dalal Street on Thursday after raising Rs 251 crore from primary markets. Its IPO, which was subscribed 35.5 times, was open between November 28-30 in the range of Rs 216-237 apiece.
PTC India Financial Services hit 5% upper circuit as FY22 PAT increases 407%
The aggregate loan assets and non-fund-based commitments against sanctioned loans stood at Rs 8,686 crore at end of March 2022. Loan assets aggregated to Rs 8,650 crore and outstanding non-fund-based commitments were at Rs 36 crore.
PTC Financial defers meet on FY22 results yet again
PFS told stock exchanges that CNK & Associates LLP, chartered accountants hired by the company to conduct a forensic audit, submitted a draft report on October 24, which the management is in the process of responding to in order to complete the forensic audit at the earliest.
PTC India Financial Services shares zoom 20%; here's why
According to a press release issued by the company, the ASM report said that it is maintaining the required level of transparency in terms of submission of data/statements to the lenders as stipulated at the time of sanction.
PTC India Financial Services ties up with GGGI to set up renewable energy-focused infra fund
PFS, a non-banking infrastructure finance company, and GGGI -- an international, inter-governmental organisation -- signed a memorandum of understanding wherein technical support would be provided by GGGI to PFS for the development and establishment of renewable energy focused fund.
SEBI asks PFS to address CG issues before holding board meet, seeks report in 4 weeks
A meeting of the Board of Directors was scheduled to be held on January 22, 2022, however, as the company did not have quorum in compliance of SEBI (LODR) Regulations, 2015, therefore, the same could not be held, the filing said.
PFS refutes charges of independent directors citing governance lapses
The companys acting chairman and managing director Rajib K Mishra said the Management of PTC India Ltd is committed towards corporate governance of highest standard in its functioning as well as of its subsidiaries.
Biggest gainers & losers of the day: IFB Agro zooms 19%; PTC India tanks
Ajit Mishra, VP - Research, Religare Broking, said, "Markets remained under pressure for the third successive session and lost nearly a per cent. The tone was negative from the beginning, tracking weak global cues which further deteriorated as the day progressed. However, a rebound in the final hour trimmed some losses."
PTC India Financial Services plunges 19%; here's why
The three independent directors – Kamlesh Shivji Viakmsey, Thomas Mathew T and Santosh B Nayar -- have flagged serious concerns on conduct on the management of the PFS India led by managing director and CEO Pawan Singh.
All independent directors of PTC Financial Services resign citing governance issues
The three independent directors – Kamlesh Shivji Viakmsey, Thomas Mathew T and Santosh B Nayar -- have flagged serious concerns on conduct on the management of the PFS India led by managing director and CEO Pawan Singh. In their resignations, the independent directors have alleged that actions of Singh were in violation of his powers.
Standalone PFs begins to cut stocks, book profits & bet on bonds
There are about 1,552 such funds - known as exempted provident funds - with an estimated Rs7-8 lakh crore corpus which can invest as much as 15 percent of corpus in equities. Many funds nearly exhausted the limits through the bull run.
A Rs 750-cr firm bags Rs 975-cr project from govt; stock climbs 7%
The company said it received Rs 976.50 crore order for Luhri Hydro Electric Project Stage I (210 MW) (Luhri Project) from Sutlej Jal Vidyut Nigam, a joint venture between the Government of India and Himachal Pradesh State Government.