The benchmark Sensex increased for a ninth consecutive session on Wednesday as buying in banking, energy, and telecom shares was sparked by positive macroeconomic data. The Nifty also closed above the record 20,000 mark for the first time. In day trading, the 30-share BSE Sensex recovered from early lows to trade close to its all-time [...]
The opening of DP World's 3.80 million square foot warehouse in Bhiwandi, Maharashtra, was announced on Wednesday. The facility, which went into operation on September 1, will serve companies in and around the region involved in industries like chemicals, pharmaceuticals, electric vehicles, and agriculture. The company said that with the addition of the new strategically [...]
To avoid having its assets seized to cover a loan default, lenders claim Byju's hid USD 533 million in a mysterious, three-year-old hedge fund. However, the ed-tech giant claims that its agreement with lenders did not explicitly forbid the movement of funds. According to a lawsuit filed in a US court, Byju's US-based subsidiary Alpha [...]
According to a senior government official, the government is investigating legal options against electric two-wheeler companies for failing to adhere to the FAME II scheme norms. In response to seven manufacturers of electric two-wheelers claiming incentives while failing to follow the rules of the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme, the [...]
With 6.8 million square feet, BFSI leasing recovered in 2022 and surpassed pre-pandemic levels. In H1 2023, higher domestic demand helped the BFSI sector's share of overall leasing increase once again to 15%. Bengaluru came in second with 24% of the leasing market, trailing Mumbai's 31% share. According to Colliers, the banking and finance industry [...]
Allcargo group firm Gati on Wednesday said it is expecting an 18–20% increase in festive season demand, particularly in segments such as e-commerce and white goods, among others, this year. The company said it is geared up to cater to this anticipated surge with its enhanced warehousing and service delivery capabilities. Gati has surface transhipment [...]
Hinduja Group on Tuesday said it has collaborated with Raffles Hotels & Resorts to restore 'The Old War Office' of Britain's World War II era prime minister Winston Churchill. The group said in a statement that the property with 120 guest rooms and suites, along with restaurants and spas, will be inaugurated on September 26, [...]
On a private placement basis to issue non-convertible debentures for up to Rs 250 Cr, MSME and vehicle loan provider Baid Finserv Ltd has approved. In the recent 32nd Annual General Meeting (AGM), the company approved the issuance. The terms and conditions of the issue will be decided by the board of directors, a release [...]
In protest of the high value-added tax (VAT) rate on petrol, the Rajasthan Petroleum Dealers Association has called for a strike on Wednesday and Thursday from 10 a.m. to 6 p.m. across the state. The Association has called for a two-day symbolic strike on September 13 and September 14. State President of Rajasthan Petroleum Dealers [...]
To fund business growth state-owned Bank of Maharashtra (BoM) on Tuesday said it plans to raise Rs 1,500 crore through bonds. BoM said in a regulatory filing, the lender intends to raise the funds through private placement of Basel-III compliant tier II bonds. The issue size is Rs 250 crore with a green shoe option [...]
