Sebi has barred Anugrah Stock & Broking and five other entities from the securities market for up to seven years in a case pertaining to providing unregulated portfolio management services (PMS). The others banned by the regulator are the brokerage house's directors -- Paresh Mulji Kariya and Sadhana Paresh Kariya -- Teji Mandi Analytics, its [...]
Capital markets regulator Sebi has barred two individuals from securities markets for one year and levied penalties totalling Rs 25 lakh on them for indulging in insider trading in the shares of Aptech Ltd. In addition, Sebi directed two individuals -- Lashit Lallubhai Sanghvi and his wife Neha Sanghvi -- to disgorge notional profits totalling [...]
Leading multiplex operator PVR is working on "getting economies of scale" after the merger of rival Inox Leisure and expects a double-digit growth in its top-line in FY24, said managing director Ajay Bijli. PVR is working on synergies on revenue from ticket prices, food & beverage, advertising, and operating costs, he said, adding that the [...]
Indian Railway Catering and Tourism Corporation Ltd (IRCTC) and HDFC Bank on Wednesday announced a partnership to launch a co-branded travel credit card. Known as the IRCTC HDFC Bank Credit Card, the co-branded card is in a single variant and is available on NPCI’s Rupay network. This is the third tie-up of IRCTC after State [...]
The National Company Law Appellate Tribunal (NCLAT) has set aside the petition filed against the initiation of corporate insolvency resolution process against Avantha Power and Infrastructure, which was a corporate guarantor for loans availed by Korba West Power Company. The appellate tribunal dismissed the plea by Anil Bhargava, director of the suspended board of Avantha [...]
Food delivery apps like Swiggy have complained to the Delhi government against challans being issued to their two-wheeler riders in the name of a ban on bike taxi services in the national capital. The food delivery platforms have also sought clarification from the government on the directive while claiming that there has been misinterpretation of [...]
The Indian Government, on 27th of February, 2023, approved NHPC’s Hydropower project, the largest ever for the country, with an estimated investment of around 32,000 crores. The project is estimated to take around nine years to build. The 2,880 MW ‘Dibang’ project will be carrying out all its building processes in Arunachal Pradesh, bordered by [...]
Adani Power has revised downwards the contracted electricity supply capacity with two discoms of Haryana to 600 MW each, from 712 MW each earlier, under supplementary power purchase agreements for its Mundra plant. The two discoms -- Dakshin Haryana Bijli Vitran Nigam Ltd and Uttar Haryana Bijli Vitran Nigam Ltd -- will now get a [...]
State-owned CIL produced 619.7 million tonnes (MT) in the April-February period of the current fiscal, registering a year-on-year growth of 14.3 per cent. The maharatna firm had produced 542 MT of coal in the year-ago period. "This is a 100 per cent achievement against progressive target. With a quantum gain of 77.3 MT CIL is [...]
Private sector lender Axis Bank on Wednesday announced that it has completed acquisition of Citibank’s consumer business and non-banking financial company (NBFC) consumer business. The bank paid Rs 11,603 crore for the acquisition announced last year in March. The sale excludes Citi's institutional client businesses in India. Axis Bank is the fourth-largest issuer of credit [...]
