The Initial Public Offer (IPO) of jewellery retail player Senco Gold was subscribed 2.68 times on the second day of subscription on Wednesday. The Rs 405 crore-IPO received bids for 2,52,28,190 shares against 94,18,603 shares on offer, as per an update on the NSE. The portion for Retail Individual Investors (RIIs) received 3.67 times subscription, [...]
Small businesses-focused non-bank lender Veritas Finance on Wednesday announced raising Rs 1,200 crore from Multiples Private Equity and other investors. Multiples along with International Finance Corporation (IFC) have put in Rs 1,050 crore while Avendus Future Leaders Fund has deployed Rs 150 crore, according to a statement. The deal comprises a primary issuance of Rs [...]
State-owned Bank of India (BOI) on Wednesday paid the government a dividend of Rs 668.17 crore for the financial year 2022-23. BoI managing director Rajneesh Karnatak presented the dividend cheque to Finance Minister Nirmala Sitharaman in the presence of Vivek Joshi, Financial Services Secretary. The dividend of Rs 2 per equity share (20 per cent) [...]
Adani Wilmar on Wednesday reported a 25 per cent year-on-year volume growth during the quarter ending June 30, mainly on account of robust consumer demand in edible oils and foods. The sale of branded products in edible oils and foods has been much stronger compared to overall sales of respective segments, the company said in [...]
The fast-moving consumer goods (FMCG) sector witnessed a stable demand in the June quarter and gross margins are expected to expand on softening commodity inflation even as the rural demand remained elusive, according to the latest reports of two companies. Two leading FMCG players -- Marico and Godrej Consumer Products Ltd (GCPL) -- in their [...]
The GST Council is likely to discuss the recommendations of a group of state finance ministers regarding levy of 28 per cent tax on online gaming, casinos and horse racing, in its 50th meeting next week. The council is also likely to thrash out a consensus on whether the tax would be levied on the [...]
Equity benchmark indices climbed in early trade on Thursday amid unabated foreign fund inflows but later faced volatile trends after a record-breaking rally in the past few trading sessions. Investors preferred to stay cautious amid weak global market trends and record rally in equities. The 30-share BSE Sensex climbed 54.09 points to 65,500.13 in early [...]
Bajaj Auto and British motorcycle brand Triumph on Wednesday launched co-developed Triumph Speed 400 and Scrambler 400 X motorcycles in India. These motorcycles were unveiled globally in London last week. The two companies formed a global partnership in 2017. Triumph Speed 400 has been priced at Rs 2.33 lakh with the inaugural price of the [...]
Finance minister Nirmala Sitharaman is expected to meet heads of public sector banks (PSBs) on Thursday and review the financial performance of as many as 12 lenders. This is going to be the first review meeting after the 2022-23 financial results. In the last fiscal, PSBs together posted a record profit of Rs 1.04 lakh [...]
Consumer demand in the domestic market remained 'steady' in the April-June quarter and the company expects 'robust performance with double-digit volume growth" in the organic business, Godrej Consumer Products Ltd said on Wednesday. The performance was broad-based with double-digit volume growth in home care and higher than mid-single-digit volume growth in personal care, the Godrej [...]
