ONGC will be watched. With reference to media report titled "Venezuela likely to go bankrupt in a day", ONGC clarified that its wholly-owned subsidiary, ONGC Videsh (OVL), is implementing the 'San Cristobal Oil Field Project' in Venezuela. Consequent to the agreements signed in November 2016, Petreos de Venezuela, S.A. (PDVSA) has paid $88 million out of $537 million and the outstanding amount of dividend as of now is about $449 million.
A high level delegation from OVL held meetings with HE Eulogio Del Pino, Minister of Petroleum, Venezuela and Nelson Martinez, President, PdVSA on 9th and 10th November 2017 for compliance with the agreements signed in November 2016. OVL has been assured that PdVSA is committed to these agreements and payments will be made through existing offtaker channels or through new agreements with the Government owned refineries and accordingly the investment in Venezuela will be protected. ONGC issued the clarification after trading hours yesterday, 15 November 2017.
Shares of 5Paisa Capital will be listed on the bourses today, 16 November 2017 following the demerger from IIFL Holdings. IIFL Holdings will get 25 shares of 5Paisa for every share held. 5Paisa Capital is an online trading firm.
Royal Orchid Hotels announced the opening of a hotel in Kanpur "Regenta Central The Crystal" and taking the number of properties under Royal Orchid group to 45. Situated at the heart of the city, Regenta Central The Crystal is a perfect blend of modern amenities and traditional Indian hospitality. The hotel is just a 45 minutes drive from Kanpur airport, 6 kilometres from railway station and situated in close proximity to the main shopping destinations. The hotel offers affordable luxury stays with multiple dining options to choose from. The announcement was made after trading hours yesterday, 15 November 2017.
RBL Bank on 14 November 2017 acquired additional 2.08% stake in Swadhaar FinServe and thereby increased its shareholding in Swadhaar to 60.48%. The announcement was made after trading hours yesterday, 15 November 2017.
CRISIL said it entered into a definitive agreement to acquire 100% of the equity shares of Pragmatix Services. The acquisition is subject to regulatory approvals and other customary closing conditions. The parties expect to close the transaction during the first quarter of 2018. Pragmatix's founders and their team will join CRISIL post the completion of the transaction. The transaction is at a total consideration of upto Rs 56 crore. The announcement was made after trading hours yesterday, 15 November 2017.
Founded by banking professionals, Pragmatix is a data analytics company focused on delivering cutting edge solutions in the 'data to intelligence' lifecycle to the Banking, Financial Services & Insurance (BFSI) vertical.
The acquisition will strengthen CRISIL's position as an agile, innovative and global analytics company. It will enable CRISIL to leverage its technology platform and deep domain expertise to enhance its business intelligence, analytics and risk management offerings for financial sector clients in India and globally. Pragmatix's solutions will accelerate acquiring retail and commercial banking customers and diversify the strong presence CRISIL enjoys with global financial institutions. Pragmatix will leverage CRISIL's client relationships, global sales footprint and delivery capability.
The New India Assurance Company's net profit surged 187.53% to Rs 748.27 crore on 16.01% rise in total income to Rs 6230.87 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 15 November 2017.
CARE Ratings' net profit 2.09% to Rs 48.34 crore on 5.89% rise in total income to Rs 97.22 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 15 November 2017.
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