Finance Minister Nirmala Sitharaman on Wednesday embarked on an official two-day visit to Niigata, Japan, to attend a G7 meeting. India is an invitee to G 7 Finance Ministers and Central Bank Governors meeting. "During her visit, FM Smt.@nsitharaman will also have multilateral and bilateral engagements with her counterparts, besides a roundtable meeting with business [...]
Cummins Inc, promoter of Automotive Axles Ltd, has settled with markets regulator Sebi a case pertaining to alleged violation of open offer lapses, after paying Rs 91.22 lakh as settlement charges. The order came after the applicant (Cummins Inc) filed a settlement application for proposing to settle by neither 'admitting nor denying the guilt'. "The [...]
In a major relief for crisis-hit Go First, the National Company Law Tribunal (NCLT) on Wednesday admitted its plea for voluntary insolvency resolution proceedings and declared a moratorium under the insolvency law. The ruling means that lessors are barred from taking back aircraft and creditors are restrained from taking coercive action. The tribunal's ruling, which [...]
Equity benchmark indices pared opening gains and were trading marginally lower in a highly volatile trade on Thursday, dragged down by a decline in Larsen & Toubro shares and weak global markets. The 30-share BSE Sensex declined 19.93 points to 61,920.27 points in early trade after hitting the crucial 62,000-mark in opening deals. The NSE [...]
Billionaire Gautam Adani's group on Tuesday said it will prepay USD 130 million of debt as it looks to boost investor confidence post being targeted by a US short-seller. Adani Ports and Special Economic Zone, the ports company of the Adani Group, had last month floated a tender to buy back as much as USD [...]
Benchmark indices ended flat on Tuesday, paring their intra-day gains, as investors resorted to profit-taking after the recent upsurge amid weak trends in global equities. Even after trading with gains for most part of the day, the 30-share BSE Sensex failed to hold on to the momentum and skidded 2.92 points to settle at 61,761.33 [...]
T D Power Systems on Tuesday posted over 43 per cent jump in its consolidated net profit at Rs 35.35 crore in the March 2023 quarter year-on-year, mainly on the back of higher revenues. The company had recorded a consolidated net profit of Rs 24.66 crore in the quarter ended on March 31, 2022, a [...]
Luggage maker VIP Industries Ltd on Monday reported a consolidated net loss of 4.26 crore for the fourth quarter ended March 2023, impacted by an exceptional loss. The company had posted a net profit of Rs 12.39 crore in the January-March quarter a year ago, VIP Industries Ltd (VIL) said in a BSE filing. However, [...]
Fitch on Tuesday affirmed India's sovereign rating at 'BBB-' with a stable outlook, on robust growth and resilient external finances, but said weak public finances remain a challenge. India's rating has been unchanged at 'BBB-', which is the lowest investment grade, since August 2006. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) [...]
Shares of Mankind Pharma made a remarkable debut on the stock exchanges on Tuesday, listing with a premium of over 20 per cent against the issue price of Rs 1,080. The stock began the trade at Rs 1,300, up 20.37 per cent on the BSE. It further zoomed 24.53 per cent to Rs 1,366. At [...]
