Private sector lender Lakshmi Vilas Bank Ltd said its board of directors has decided to float a subsidiary company for undertaking housing finance business.
“The housing finance space offers immense scope. We need focused and concerted efforts in this business in order to reap the benefits from this huge potential market. That is why the bank’s board has decided to float a new subsidiary to undertake the housing finance business,” KSR Anjaneyulu, managing director and chief executive, Lakshmi Vilas Bank said in a release.
On Wednesday, Lakshmi Vilas Bank shares ended 2.6% higher at Rs91 on the Bombay Stock Exchange where the benchmark Sensex closed 1% up at 17,700 points.
The country's largest automaker, Tata Motors Ltd on Wednesday said it has entered into an agreement with private sector lender IndusInd Bank for financing its dealers.
The agreement will allow dealers of Tata Motors access to finance from IndusInd Bank to meet their working capital requirements in addition to the existing retail finance arrangements, the auto maker said in a statement.
On Wednesday, Tata Motors shares ended 1.3% up at Rs778.35 on the Bombay Stock Exchange where the benchmark Sensex closed 1% up at 17,700 points. IndusInd shares ended 0.2% down at Rs205.
Alstom Projects India Ltd, a subsidiary of the France-based Alstom SA, on Wednesday said it has won an order worth Rs458 crore from state-run Bharat Heavy Electricals Ltd (BHEL) in Karnataka.
The company has received Rs458-crore contract from BHEL for supply of boiler components in Karnataka power plant, Alstom Projects India said in a filing to the Bombay Stock Exchange.
On Wednesday, Alstom Projects shares ended 2.9% higher at Rs670 on the Bombay Stock Exchange where the benchmark Sensex closed 1% up at 17,700 points.