Motilal Oswal Alternates, which has already committed Rs 2,000 crore to realty projects during this fiscal so far, is planning to launch a new fund with similar investible corpus by March. Sharad Mittal, chief executive of real estate funds at MO Alternates, said, "in addition to the money already committed, we plan to launch a [...]
Steel wheels manufacturer, Wheels India Ltd has launched flow form technology equipped in cast alloy wheel considered one of the most advanced manufacturing technologies in the wheel industry, the company said on Tuesday. The city-headquartered company recently commenced shipment of the flow forming wheel to the United States and expects to unveil the product soon [...]
Sagar Cements has been declared as the successful bidder for debt-ridden Andhra Cements, a company which was owned by the Jaypee Group and is under the Corporate Insolvency Resolution Process. The Committee of Creditors (CoC) of Andhra Cements has voted with a majority in favour of the resolution plan filed by Sagar Cements Ltd, Andhra [...]
Capital markets regulator Sebi on Tuesday proposed to introduce a blocking of funds facility for trading in secondary markets, a move aimed at safeguarding investors' money from misuse and default by stock brokers. This is similar to Application Supported by Blocked Amount (ASBA)-like facility already available for the primary market which ensures that money from [...]
The shares of Vinny Overseas Ltd have once again hit an upper circuit of 5% during the afternoon sessions of Tuesday. With an upper circuit of 5%, the stock has touched a new all-time high of 196.90. Vinny Overseas is engaged in the business of full-service designs and builds soft goods manufacturing studios. The company [...]
Indian benchmark indices traded higher on Tuesday after starting flat. The BSE Sensex was at 60422 levels (up 0.55%) and the NSE Nifty 50 was at 17980 levels (up 0.48%) at 01:40 PM on Tuesday. Gains in financial and IT shares led the headline indices higher. In an otherwise firm market, the shares of Nykaa [...]
Sri Lanka on Tuesday announced further measures to tighten its finances ahead of reaching an agreement with its main creditors on the anticipated IMF bailout expected in the island nation’s ongoing economic crisis caused by forex shortages. Cabinet spokesman Bandula Gunawardena said that a further one per cent cut from the budgetary allocations of each [...]
State-owned Bank of India (BoI) on Tuesday reported 12 per cent rise in its profit at Rs 1,151 crore for the third quarter ended December 2022 aided by decline in bad loans. The Mumbai-based bank had posted a net profit of Rs 1,027 crore in the same quarter a year ago. Total income increased to [...]
The National Green Hydrogen Mission is a "significant step" towards achieving the country's net-zero targets and and will help in reducing input costs of clean energy source, besides generating lakhs of job opportunities in the renewable energy sector, experts say. The Union Cabinet on January 4 approved the National Green Hydrogen Mission, which aims to [...]
Singapore is looking at collaborating with India in the area of digital public infrastructure on the lines of a national identity system like Aadhaar, an official of the island country's central bank said. Another potential opportunity could be the integration of Singapore's 'Proxtera' (global digital hub of MSME ecosystems) with India's Open Network for Digital [...]
