Sebi on Tuesday imposed penalties totalling Rs 35.67 crore on PNB Finance and Industries Ltd, Camac Commercial Company Ltd and various other entities, including promoters Samir Jain and Meera Jain who have also been barred from the securities market. Apart from the market ban, Samir Jain and Meera Jain have been restrained from holding any [...]
Biscuit maker Saj Food Products, which is expecting to touch a revenue of Rs 2,500 crore in the 2023-24 fiscal, is eyeing at Rs 5,000 crore turnover in five years, a company official said on Tuesday. The Kolkata-headquartered company, which owns ‘Bisk Farm’ brand, is likely to close the current financial year with a revenue [...]
Toll road operators are likely to log in lower top line growth at 9-11 per cent in 2023-24 compared to a robust 16-18 per cent rise in revenue this fiscal, says a report. In a report on Tuesday, rating agency Crisil said the jump of 16-18 per cent in revenue this fiscal will be on [...]
Japan on Tuesday committed Rs 7,084.5 crore to India for three infrastructure projects, including Patna Metro Rail Construction Project and Rajasthan Water Sector Livelihood Improvement Project. Notes in this regard were exchanged between Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs and Japan Ambassador to India Suzuki Hiroshi, an official statement said. Japan would [...]
Insurance regulator Irdai has removed the individual ceiling of commission to be paid by insurers for the sale of their products. The board of an insurance company should frame commission policy keeping in mind the interest of the policyholders and agents, the Insurance Regulatory and Development Authority of India (Irdai) said in a gazette notification [...]
Commerce and Industry Minister Piyush Goyal on Tuesday said the country's merchandise and services exports are estimated to cross USD 760 billion in the current fiscal ending March 31. Exports grew to USD 676 billion in 2021-22 from USD 500 billion. Speaking at the annual session of Assocham here, Goyal said that at a time [...]
Capital market regulator Sebi on Tuesday introduced a framework for 'scheme of arrangement' by unlisted stock exchanges, clearing corporations and depositories. A scheme of arrangement is a court-approved agreement between a company and its shareholders or creditors. At present, there is no specific provision for unlisted Market Infrastructure Institutions (MIIs) -- stock exchanges, clearing corporations [...]
Even as there is an ongoing global turmoil, hiring intentions in services and manufacturing sectors for the first quarter of 2023-24 are 10 per cent more than the year-ago period, a report said on Tuesday. According to the TeamLease Services' 'Employment Outlook Report' for the Services and Manufacturing sectors for Q1, FY24, despite the ongoing [...]
Axis Securities has appointed Pranav Haridasan as its new managing director & chief executive for a three-year tenure, following the incumbent B Gopkumar moving to head Axis AMC. Haridasan is currently managing director and co-head of equities at Axis Capital and has over 20 years of experience in financial markets across different asset classes. Before [...]
Vedanta Ltd on Tuesday said its board has approved an interim dividend of Rs 7,621 crore for the current financial year. The company has fixed April 7 as record date for the purpose of dividend payment. "The Board of Directors at a meeting held on Tuesday, March 28, 2023 approved the fifth interim dividend of [...]
