In the illiquid stock option segment on the BSE for indulging in non-genuine trades, SEBI has imposed fines totaling Rs 35 lakh on seven entities. In seven different orders on Monday, the regulator slapped a fine of Rs 5 lakh each on Subhash Kumar Poddar HUF, Manoj Kumar Goenka HUF, Ayan Akhter Husain, Ankita Didwania, [...]
On Tuesday TPG-backed wires and cables manufacturer RR Kabel Ltd said that it has mobilised Rs 585.62 crore from anchor investors ahead of its initial share sale. According to a circular uploaded on the NSE, an average price of Rs 1,035 apiece, the company has allocated 56,58,201 equity shares to 54 entities. HDFC Mutual Fund, [...]
Due to the sale of the retail division to Axis Bank, the net profit for the Indian operations of the American lender Citi increased to Rs 13,614 crore in FY23. A net profit of Rs 4,700 crore, or a 26% increase over the Rs 3,727 crore it reported for FY22, was reported by the lender [...]
On Tuesday, Tata Power Delhi Distribution disclosed a strategic alliance with Utiltyx, the Indian division of a US-based software company that specializes in data analytics and cyber security. According to a statement from the company, the partnership aims to improve the organization's readiness against potential threats and challenges related to cyber security. According to the [...]
In an effort to promote environmentally friendly coal transportation, Coal India Ltd has committed to investing a total of about Rs 24,750 crore in 61 first-mile connectivity (FMC) projects over the next few years. The projects, which will be built in three phases, will have a combined annual capacity of 763.5 million tonnes, according to [...]
The US International Development Finance Corporation has authorized financial assistance to Tata Power Renewable Energy Ltd. in the amount of up to USD 425 million (Rs 3,521 crore) for the establishment of a 4.3 GW solar cell in Tamil Nadu by its subsidiary. According to a statement released on Monday by Tata Power Renewable Energy [...]
According to industry group SIAM, wholesale sales of passenger vehicles in the nation increased 9% year over year in August as a result of strong demand for SUVs and other utility vehicles. From 3,28,376 units in August 2022, the total number of passenger vehicles dispatched to dealers increased to 3,59,228 units last month. Sales of [...]
According to Diversified PSU Balmer Lawrie, some of its business units, including industrial packaging (IP) and logistics services (LS), may face significant challenges as a result of global geopolitical developments like the conflict between Ukraine and Russia. The firm's outlook indicates that the Russia-Ukraine situation is still having a negative impact on the world economy, [...]
To raise funds through an IPO, Integrated Facilities Management Updater Services Ltd has received SEBI approval. Integrated facilities management Updater Services Ltd has received capital markets regulator Sebi's approval to raise funds through an Initial Public Offering (IPO). The IPO will comprise both a fresh issue of equity shares aggregating up to Rs 400 crore [...]
According to its MD Ishver Dholakiya, Gujarat-based Goldi Solar and Desert Technologies of Saudi Arabia have signed a contract to look into investment opportunities in the green energy sector. According to the Memorandum of Understanding (MoU), Goldi Solar said in a statement that it will provide technologies to develop green projects. "As part of the [...]
