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Bengal Inc Basks in the Glory of a Legend

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8 Economy The Economic Times, Kolkata, Saturday, 15 February 2014 Bengal Inc Basks In the Glory Of A Legend ET BENGAL CORPORATE AWARDS BK Birla, felicitated for lifetime contribution, & super-achievers of Corporate Bengal form a galaxy to pave way for a brighter future cisions getting taken quicker and man- OUR BUREAU day losses becoming almost non-existent KOLKATA with a proactive administration abso- A packed Taj Bengal Crystal Room al- lutely determined to speed up the process most cowered as Amit Mitra thundered: of industrialisation of the state. “Where are the naysayers?” And then Ambuja Group Chairman Harsh Neotia went on to assert that West Bengal is very spoke about how the state government, firmly on the path of economic and in- after overcoming the initial inertia, got dustrial recovery with growth so far out- its act together. “We expect far more rap- stripping national growth rates by miles id progress and more activity on the across parameters like industrialisa- ground once the Lok Sabha elections get tion, agriculture and man-day loss. over,” he said. Usha Martin Chairman It was a kind of event that Kolkata would Prashant Jhawar spoke about the ties be talking about for quite some time: The that his group has had with BK Birla. ET Bengal Corporate Awards. It was or- Addressing Bengal Inc, so to say, Amit ganised jointly by The Economic Times Mitra minced no words. He said that the and the Association of Corporate Advis- The Birla family The Who’s Who of Bengal Inc government was giving all projects fast- ers and Executives on Thursday evening. track clearance and rattled off instances Apart from the odd person, anybody on over `. 300 crore! Even Mitra was to con- The awards rained and Amit Mitra gave where it has done so already. “After tak- the city’s Who’s Who corporate list was fess later how emotional the moment had them all away. Best financial perform- ing over charge as industry minister, the present. been for him. “I felt so deeply honoured to ance was awarded to Ghanshyam Mishra state cabinet has passed 10 land allot- Every event has a moment that literally present him with the award,” he said. & Sons (sub-`. 300 crore), RS Software In- ments from the reservoir of 3,500 acres defines it. On Thursday evening, it was There was almost the entire Birla fam- dia (`. 300 crore-`. 1,000 crore) and Emami available in various industrial parks. when West Bengal’s finance, commerce ily present as the legend came down — SK Ltd (above `. 1,000 crore). Fastest growing Land is being allotted through a trans- and industry minister handed over the Birla and his wife Sumangala, Nirmala company award went to Vedant Fashions parent process. Some 8,000 square feet ar- Legend award for lifetime achievement Birla, wife of the late GP Birla, Rajashree Pvt Ltd (sub-`. 300 crore), Flexituff Inter- ea for bus terminuses is now being auc- to Basant Kumar Birla. Ramrod straight Birla, mother of Kumar Mangalam Birla, national (`. 300 crore -`. 1,000 crore) and tioned. Issues relating to projects, if any, even at a blessed 93 years, Birla walked up Jayshree Mohta and Manjushree Khai- Srei Equipment Finance Ltd (above are getting sorted out in a jiffy. All these the three steps to the podium to receive tan — the two daughters of Basant Ku- `. 1,000 crore). The highest job creator have been possible due to a change in the award and the felicitations that fol- mar — and their daughters Maitree Kan- award went to Maheshwari Mining Pvt work culture and highest level of trans- lowed, even as the audience stood to a doi and Vidula Jalan along with their Ltd (sub-`. 300 crore), Apollo Gleneagles parency being followed at the govern- man to give the doyen a resounding ova- husbands. Hospital Ltd (`. 300 crore-`. 1,000 crore) and ment,” said Mitra. tion. And, of course, there was Sarala Birla, Himadri Chemicals & Industries Ltd The state’s finances, he said, are slated It was a humbling moment for many of who said “congratulations” as her hus- (above `. 1,000 crore). The best CSR idea to improve despite a `. 2-lakh-crore debt them too. “To think of all that he has band BK reached her and took the chair award went to Bandhan. and an interest burden of `. 28,000 crore achieved in his life — it makes me feel so by her side. Next up on stage to get felici- Speaking on the occasion, RP-Sanjiv because tax collection “will improve fr- insignificant and we talk of ego!” said an tated was Sarala Birla herself and as she Goenka Group Chairman Sanjiv Goenka om `. 21,000 crore to about `. 40,000 crore by Sarala Birla followed her husband industrialist who preferred to be re- came down, it was BK’s turn to congratu- said how Bengal is beginning to change, March 2014”. He said some 31 major poli- to the stage. The Award Moment: BK Birla & Amit Mitra ferred to as one whose business is just late her. how issues are getting resolved faster, de- cy reforms have been taken up recently. Photos: Subhajit Pal All Live Indices, Stock Quotes, ETF prices from BSE & NSE, and Market Stats including Gainers, Losers, Movers, Market Intelligence Powered By: ETIG Database New Highs & Lows are available on Mobile and Web. Log in to www.economictimes.com/markets. TurnoverTurnover in in Rs.Crore Crore A ` X MARKET SNAPSHOT X ADVANCE & DECLINE X HIGHS & LOWS X TURNOVER Shares &Shares Trades & Trades in Lakhs in Lakhs X FII CTIVITY ( Cr.) X MF ACTIVITY (` Cr.) X NEW HIGHS AND LOWS AT NSE SENSEX NIFTY BSE (Number of traded scrips) NSE BSE (Number of scrips) NSE BSE NSE EQUITY DEBT EQUITY DEBT Company Days Company Days Company Days Company Days Open 20265.13 6023.75 ‘A’ ‘B ‘ Others Total Total Date Turn Shares Trades Turn Shares Trades Date Buy Sell Net Buy Sell Net Date Buy Sell Net Buy Sell Net HIGH/LOW HIGH/LOW HIGH/LOW HIGH/LOW High 20391.95 6056.40 ‘A’ ‘B ‘ Others Total Total Low 20149.01 5984.60 14/2 1732 1473 13.60 9845 4761 52.45 13/2 2469 2080 389 1392 74 1317 11/2 433 475 -42 4213 3617 596 Advances 119 716 346 1181 611 52WK High 226 497716 52 week at NSE Close 20366.82 6048.35 12/2 2684 2527 157 4169 472 3697 10/2 395 716 -321 5660 4536 1124 13/2 1667 1490 12.65 9221 4898 51.11 11/2 2713 2912 -199 243 1097 -854 7/2 341 374 -33 6828 3314 3514 Change(Abs) 173.47 47.25 Declines 79 876 440 1395 724 52WK Low 369 259738 HIGH Radha Madhav 7.25 *Gokul Refoil 11.75 *Northgate Co 2.10 52-Wk High (Dec 9)21483.74 (Dec 9)6415.25 12/2 1880 1636 12.99 9955 4878 50.32 10/2 2084 2522 -438 1299 228 1071 6/2 401 535 -134 5675 3742 1933 *8K Miles Sof 130.00 *Symphony 516.00 Goldstone In 8.50 Parrys Sugar 15.00 *Amara Raja B 384.30 *Tata Elxsi 449.90 52-Wk Low (Aug 28)17448.71 (Aug 28)5118.85 Unchanged — 84 60 144 98 All High 2 7 22 31 10 7/2 2570 2823 -254 2479 460 2018 5/2 520 192 328 2740 2010 731 Greenply Ind 302.10 Prism Cement 22.75 11/2 1692 1572 12.41 9524 4738 46.97 *Balkrish Ind 398.00 LOW 3-Yr High (Dec 9,13)21483.74 (Dec 9,13)6415.25 Tot Feb 22927 24358 -1431 14204 8572 5632 Tot Feb 3116 3344 -228 43562 21384 22178 HIL Ltd. 235.10 PSL 16.35 Country Cond 3.50 *8K Miles Sof 96.05 HT Media 71.40 Rajshree Sug 18.50 Total 198 1676 846 2720 1433 All Low —16 5 218 10/2 1683 1608 11.90 8916 4823 45.64 Total 2014 88744 90316 -1572 48142 30154 17987 Total 2014 12465 15208 -2743 187176 119582 67594 3-Yr Low (Dec 20,11)15135.86 (Dec 20,11)4531.15 Eveready Ind 39.80 AI Champdany 14.85 Indiabulls R 46.10 Ramco Inds. 29.25 *Fiem Inds. 398.00 Balmer Lawri 293.45 *Indus.Inv.Tr 65.55 *Rohit Ferro 8.80 U A A R Firstsource 29.25 *Bang Oversea 8.00 IMP Powers 21.10 Ruchi Infra. 12.50 X B SINESS HE D X INDEX MOVE S Winning Big, Losing Big Glob.Offshr. 172.85 Bhansali Eng 11.90 JBF Inds. 64.10 Satvah.Ispat 20.95 *HCL Techno. 1513.75 Bil Energy S 2.30 *Jindal Pol.I 43.30 State Bnk Bi 288.55 Board Meetings Sensex Igarashi Mot 98.55 Consol.Finvs 23.50 *Kingfisher A 2.85 Simbhaoli Su 11.10 Company Agenda Days % Mcap* Days *Indian Terrn 162.35 Corpn. Bank 236.00 Khandwala Se 12.35 Sr.Rayl.Hi-S 16.95 ` *Nath Bio-Gen 39.30 DB Realty 47.75 Lakshmivilas 58.60 Sun TV Netwk 324.15 February 15 Company Close Chg ( Cr)Weight PE Nath Seeds 5.55 Dharani Sug 15.70 Bk of Mahars 30.25 *Suryajyoti S 6.20 Abhishek Cor Quarterly Results SENSEX 20366.82 0.86 1668301 100.00 16.45 *Poly Medicur 439.95 *Filatex (I) 11.10 *Man Infracon 85.05 *Tulip Telec. 4.65 Amit Intl.Quarterly Results ITC 319.80 0.96 253217 15.18 30.1 *Marg 7.75 *United Bank 24.45 Arora Fibres Quarterly Results Infosys Tech 3645.60 1.65 143150 8.58 20.8 Precision Wr 86.05 Fed.-Mogul G 176.20 BIL Continl.Quarterly Results Reliance Ind 821.50 1.74 135874 8.14 12.1 *All Time High/Low Balaji Galva Quarterly Results HDFC 771.70 0.72 120343 7.21 15.8 Tata Consult 2166.25 1.52 110743 6.64 24.4 Bhatia Inds.
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  • Svatantra Microfin Private Limited: Rating Reaffirmed and Simultaneously Withdrawn for Long-Term Bank Lines

    Svatantra Microfin Private Limited: Rating Reaffirmed and Simultaneously Withdrawn for Long-Term Bank Lines

    February 05, 2021 Svatantra Microfin Private Limited: Rating reaffirmed and simultaneously withdrawn for long-term bank lines Summary of rating action Previous Rated Amount Current Rated Amount Instrument* Rating Action (Rs. crore) (Rs. crore) [ICRA]A- (Stable); reaffirmed and Long-term bank lines 1,000.00 0.00 simultaneously withdrawn Subordinated debt 75.00 75.00 [ICRA]A- (Stable); outstanding Total 1,075.00 75.00 *Instrument details are provided in Annexure-1 Rationale ICRA has reaffirmed and simultaneously withdrawn the [ICRA]A- (Stable) rating for the Rs. 1,000-crore long-term bank lines of Svatantra Microfin Private Limited (Svatantra). The rating has been withdrawn at the company’s request, in line with ICRA’s policy on the withdrawal of credit ratings. The rating factors in the strong capital support and financial flexibility, given Svatantra’s ownership, with the promoters and the holding/investment company of the Aditya Birla Group owning the entire stake in Svatantra as on December 31, 2020. The rating also factors in the company’s experienced management team, prudent lending policies and robust systems and processes. ICRA also takes note of the improving geographical diversification of operations with a presence in 17 states through a network of 515 branches spread across 249 districts. The rating factors in the company’s strong financial flexibility and its fairly-diversified borrowing profile. It also factors in Svatantra’s adequate capitalisation profile, supported by regular capital infusions, which have helped scale up its operations. The promoters have been regularly infusing capital in the company with the most recent being ~Rs.