Gold loan-focussed Non-Banking Financial Company (NBFC) Muthoot Finance on Monday said it has received an approval from Reserve Bank of India (RBI) to open additional 150 branches across the country. The non-bank lender plans to open these branches across southern and northern parts of the country, a release said. "As the economy gradually recovers, the [...]
India's merchandise exports in June rose by 16.78 per cent year-on-year to USD 37.94 billion while the trade deficit ballooned to a record USD 25.63 billion on account of a steep increase in gold and crude oil imports, according to the government's preliminary data released on Monday. The export growth in June moderated from 20.55 [...]
Passenger vehicle retail sales in the country rose 40 per cent in June indicating an improvement in semiconductor supplies even as demand, especially for SUVs, remained robust, auto dealer' body FADA said on Tuesday. According to the Federation of Automobile Dealers Associations (FADA), passenger vehicle (PV) registrations rose to 2,60,683 units last month, as compared [...]
Tata Motors expects second half of the current fiscal to be better in terms of performance with gradual improvement in the overall supply situation and stabilisation in commodity prices, according to company chairman N Chandrasekaran. Addressing shareholders during the company's 77th annual general meeting, Chandrasekaran noted that demand for the company's vehicles across segments remained [...]
Stocks of companies related to paper industry have gained amid a ban on certain Single-Use Plastic (SUP) items that kicked in from Friday. Since June 30, shares of Seshasayee Paper and Boards jumped 7 per cent, Andhra Paper gained 6.21 per cent, Tamil Nadu Newsprint & Papers climbed 4.62 per cent and Satia Industries advanced [...]
Edtech firm Byju's said on Monday that it has completed payment that was due for the acquisition of Aakash Educational Service and received majority of USD 800 million fund which it announced in March. The company is estimated to have acquired Aakash Educational Services Limited for around USD 950 million. "Our fundraising efforts are on [...]
The Department of Telecom has warned e-commerce platforms against selling some telecom gears like wireless jammers and network boosters that require government permission for sale, an official statement said on Monday. The DoT has raised the issue several times in the last 4-5 years and even conducted raids to check illegal sales of these equipment. [...]
Tata Power on Monday announced that it has inked a pact with the Tamil Nadu government to invest Rs 3,000 crore for setting up a new facility to manufacture solar cells and modules in Tirunelveli district of the state. "Tata Power, one of India's largest integrated power companies, has signed a Memorandum of Understanding (MoU) [...]
The windfall taxes imposed by the government on domestic crude oil production and fuel exports will hit ONGC's earnings severely while shaving off up to USD 12 per barrel in refining margins for Reliance Industries Ltd. The new levies will give the government up to Rs 1.3 lakh crore additional revenue, brokerages said. In a [...]
Bajaj Auto on Monday said it has commenced its Rs 2,500 share buyback programme. In a regulatory filing, the Pune-based company said the buyback initiative has begun with effect from July 4. The company's board, at its meeting held on June 27, had approved the proposal for buyback of the fully paid-up equity shares of [...]
