Shares of defence equipment manufacturers and shipbuilders were on fire on Friday’s early trades. They appreciated to the tune of 9% after the Ministry of Defence on Thursday signed multiple contracts worth over ₹ 35,000 crores with both state-owned and private companies. Some of the top gainers were Bharat Electronics (up 7.54%), Bharat Dynamics (Up [...]
Reliance Industries Ltd (RIL) shares jumped around 4 percent today and currently trades at a price of Rs 2,323. After some bearish sessions and hitting its 52-week low figures, finally, the stock witnessed an up movement of around 6.5 percent from those levels. One of the probable reasons for such a movement in the company’s [...]
Nutrition snacking start-up Kikibix has raised USD 300,000 from founders and co-founders of nine unicorns, including Mama Earth, Pristyn Care, Fashinza etc, the company said on Friday. Early-stage venture capital firms Blume Ventures led the funding round and US-based Angelist also participated in the fundraising. Founded by paediatrician Ridhi Kaur in 2022, the company makes [...]
Global macroeconomic and financial sector headwinds are set to take a deep toll on the domestic IT companies' revenue growth in FY24, a report said on Friday. The Rs 10 lakh crore sector is likely to witness revenue growth plunging by up to 9 percentage points to 10-12 per cent in FY24 as against the [...]
Water treatment company Va Tech Wabag (WABAG) has bagged a Rs 4,400-crore seawater reverse osmosis project in Tamil Nadu which after completion would be the largest sea-water desalination project in the South East Asia region. The project has been bagged in a joint venture with Metito Overseas Ltd and will be implemented on a design, [...]
Cash-strapped Sri Lanka is exploring the options for domestic debt restructuring in the post-IMF bailout scenario to further stabilise its shaken economy, an official statement said on Friday. Sri Lanka received USD 330 million this month as the first tranche of the International Monetary Fund (IMF) bailout programme, which will pave the way for the [...]
Market barometers BSE Sensex and NSE Nifty opened higher on Friday, defying global trends, led by gains in financial and IT shares. At 12:08 PM, the Sensex was at 58673.63 points, up 1.23% and the Nifty was at 17,279.35 points, up 1.16%. Broader markets too extended the rally. In the meanwhile, here are a few [...]
Alembic Pharmaceuticals Ltd share started its trading session today at a price of Rs 479.40 and currently trades at Rs 501.90 showing a gain of around 7 percent as compared to the previous closing price of Rs 468.65. The share observed a hike of around 8.7 percent with an intra-day high of Rs 509.40. Such [...]
Commerce Secretary Sunil Barthwal on Friday said India is ready to trade in Indan Rupee with countries which are facing currency failure or have dollar shortage. Speaking after the unveiling of Foreign Trade Policy (FTP) 2023 which seeks to increase India's exports to USD 2 trillion by 2030, the secretary also said the government is [...]
Zee Entertainment Enterprises Ltd (ZEEL) has entered into a one-time settlement agreement with Standard Chartered Bank for the loan taken by Siti Networks, a part of the Essel Group. Standard Chartered Bank had sanctioned certain credit facilities to Siti Networks, which was inter-alia secured by DSRA (Debt Service Reserve Account) support and undertaking from ZEEL. [...]
