ICRA downgrades United Bank of India’s rating
Leading rating agency ICRA has downgraded United Bank of India’s long-term ratings to ‘stable’ from 'positive’ on the back of lower probability of improvement in credit profile.
Govt hikes excise duty on petrol, diesel
The government on Wednesday increased excise duty on petrol by Rs 0.30 per litre and by Rs 1.17 a litre on diesel to make use of slump in oil prices to garner an additional Rs 2,500 crore.
Infosys rises 1% on order for Finacle from Hong Kong bank
Shares of Infosys gained 1 percent in early trade Wednesday as its product subsidiary has received order for banking solution from a Hong Kong-based bank.
Thomas Cook up 3% as CCI nods for Kuoni Travel acquisition
Shares of Thomas Cook (India) rose 3 percent intraday on Wednesday as it has received approval from competition watchdog for its acquisition of rival Kuoni Travel.
Alkem Laboratories prices $200 mn IPO at Rs 1,050 per share
Generics drugmaker Alkem Laboratories raised Rs 1350 crore (USD 201.88 million) in its initial public offering after pricing shares at Rs 1,050 each, according to its prospectus. Pricing was at the top end of its Rs 1,020-1,050 price band.
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