Global private equity giant Blackstone on Sunday announced the acquisition of International Gemological Institute (IGI) at an enterprise value of over USD 525 million. IGI is headquartered in Antwerp, Belgium, but counts on India, the largest diamond polisher in the world, for a majority of its revenues and profits. Blackstone has acquired 80 per cent [...]
Equity benchmark indices climbed in early trade on Monday amid rally in Asian markets along with buying in index heavyweights IT counters and Reliance Industries. The 30-share BSE Sensex climbed 146.98 points to 61,876.66 in early trade. The NSE Nifty went up by 55.3 points to 18,258.70. Among the Sensex firms, NTPC, Power Grid, Wipro, [...]
Punjab National Bank (PNB) on Friday reported over five-fold jump in its net profit to Rs 1,159 crore for the March 2023 quarter, helped by lower bad loans and a rise in interest income. The state-owned bank had earned a standalone net profit of Rs 202 crore in the year-ago period. During the quarter, the [...]
Gail India plans to borrow up to Rs 7,000 crore in FY24 to fund the Rs 10,000 crore capital expenditure plan for this fiscal, a top company official said on Friday. The state-owned company's chairman and managing director SK Gupta said, "For this fiscal, we plan to spend Rs 10,000 crore". He added that even [...]
Technology firm Siemens' board on Friday approved the sale of low voltage motors and geared motors businesses to a Siemens AG subsidiary -- Siemens Large Drives India -- for Rs 2,200 crore. The Board of Directors of Siemens Limited has approved the sale and transfer of low voltage motors and geared motors businesses, including related [...]
An expert committee appointed by the Supreme Court said it cannot conclude any regulatory failure around Adani Group's stock rallies, and that Sebi has "drawn a blank" in its probe into alleged violations in money flows from offshore entities into the conglomerate. But the six-member panel said there was an evidence of a build-up in [...]
Shares of Nexus Select Trust, the first REIT backed by rent-yielding retail real estate assets, listed with a gain of 3 per cent against the issue price of Rs 100 per unit on Friday. The stock made its debut at Rs 102.27, up 2.27 per cent on the BSE. It further climbed 4.9 per cent [...]
Equity benchmark indices started the trade on a firm note on Friday amid positive trend in the global stock markets and foreign fund inflows but later turned volatile. The 30-share BSE Sensex climbed 205.08 points to 61,636.82 in early trade. The NSE Nifty advanced 56.2 points to 18,186.15 in initial deals. Later, both the benchmark [...]
Leading shoemaker Bata India on Thursday reported a 4.22 per cent rise in consolidated net profit to Rs 65.62 crore for the fourth quarter ended March 2023. The company had posted a net profit of Rs 62.96 crore in the January-March quarter a year ago, Bata India Ltd said in a BSE filing. Its revenue [...]
State-owned non-banking finance firm REC Ltd is planning to increase its loan book over two-fold to Rs 10 lakh crore by 2030, including Rs three lakh crore for renewable energy projects. This assumes significance given India's ambitious target of having 500GW of renewable energy capacity by 2030. REC Ltd's loan book is Rs 4.35 lakh [...]
