Sebi on Thursday barred one person from the capital markets for six months and imposed a penalty of Rs 12 lakh on him for indulging in insider trading in the shares of IT solutions company NIIT Technologies. Apart from these, the regulator has directed the person -- Arvind Mehrotra -- to disgorge loss avoided to [...]
Jio-bp - the fuel retailing joint venture between Reliance Industries and supermajor bp - will set up EV charging and battery swapping stations at properties of real estate developer Omaxe in 12 cities as it looks to take mobility solutions to doorstep of users. In a statement to media, the firms said Omaxe will be [...]
In a crackdown on exporters who had submitted fraudulent letters of credit for wheat exports, the commerce ministry's arm DGFT has imposed monetary penalties on two Mumbai-based entities and decided to initiate criminal proceedings against them. The government has banned wheat exports on May 13, but allowed shipments for which Letters of Credit (LCs) have [...]
Leading cement maker UltraTech on Thursday announced the signing of an agreement with transformational technology firm Coolbrook to explore possibilities to cut CO2 emissions from its cement manufacturing operations. The Aditya Birla group firm has signed a memorandum of understanding (MoU) with Coolbrook to explore electrification of cement kiln heating process, said a joint statement. [...]
Cement maker Dalmia Bharat Ltd has said that the government's continued focus on the infrastructure and housing sectors builds "optimism" for the cement industry and the company has committed to a capex of over Rs 9,000 crore to expand its manufacturing capacity over the next few years to meet the growing demand. According to the [...]
Fish and meat distribution startup FreshR has raised USD 1.2 million (Rs 9.33 crore) in a funding round led by Axilor Ventures and 1crowd, a release said on Thursday. FreshR would use the fresh funding to grow and expand its geographical footprint, develop and implement its tech stack as well as grow its team. "Building [...]
Debt-ridden Future Enterprises Ltd (FEL) has defaulted on payment of interest of Rs 1.41 crore for its non-convertible debentures. The due date for payment was June 6, 2022, Future Supply Chain Solutions Ltd said in a regulatory filing on updates received from its promoter Future Enterprises Ltd (FEL). "The Company is unable to service its [...]
Air Products, a world leader in industrial gases, on Wednesday said it has signed a long term supply agreement with the state-owned Indian Oil Corporation Limited (IOCL). "Air Products will build, own, and operate (BOO) a new industrial gases complex supplying hydrogen, nitrogen and steam to IOCL's Barauni Refinery in Bihar," the firm said in [...]
Returning to profit in FY22 after witnessing heavy losses for two consecutive years, Yes Bank has kicked off the process of forming an alternate board as it has come out of the reconstruction scheme. The central government had notified the Yes Bank Reconstruction Scheme on March 13, 2020 after the private lender faced governance crisis [...]
German sports luxury car manufacturer Porsche on Wednesday said it has forayed into pre-owned car segment in India. The Porsche Approved programme is now available across India with a comprehensive warranty on pre-owned cars for a minimum of 12 months, including access to the 24-hour roadside service after passing a rigorous 111-point inspection, the automaker [...]
