Equity benchmarks declined in initial trade on Wednesday amid unabated foreign fund outflows and a weak trend in index heavyweight Reliance Industries. Continuing its previous day decline, the 30-share BSE Sensex fell 309.7 points to 59,805.78 in initial trade. The broader NSE Nifty dipped 89.8 points to 17,824.35. From the Sensex pack, Bharti Airtel, Mahindra [...]
The Securities Appellate Tribunal (SAT) has asked capital markets regulator Sebi to provide certain documents pertaining to loans sanctioned by ICICI Bank to entities including Videocon Group to the private lender's former chief Chanda Kochhar. Directing Sebi to provide such documents, the tribunal said that denial of the documents sought for by the respondent (Sebi) [...]
Global investment firm Carlyle on Tuesday said it has acquired a majority stake in homegrown skincare and beauty firm VLCC for an undisclosed amount. Founded in 1989 by Vandana and Mukesh Luthra, VLCC operates in the skincare, beauty and wellness market with an integrated offering of branded skincare products and specialised beauty and wellness services. [...]
State-owned Bank of Baroda (BoB) on Tuesday hiked Marginal Cost of Funds based Lending Rate (MCLR) by up to 35 basis points, making loans linked to the benchmark rates expensive. The new rates will be effective from January 12, BoB said in a regulatory filing. The overnight MCLR has been increased to 7.85 per cent [...]
Shares of Tata Motors jumped 6 per cent on Tuesday after the company-owned Jaguar Land Rover reported a 15 per cent increase in wholesales to 79,591 units for the third quarter ended December 2022. The stock rallied 6.07 per cent to settle at Rs 413.05 apiece on the BSE. During the day, it climbed 7.26 [...]
Steel prices increased by 5 per cent to hit a three-month high of Rs 56,900 per tonne in January, according to SteelMint. In its latest report, the research firm attributed the rise to "export duty removal and rise in raw material prices". According to SteelMint data, the price of per tonne hot rolled coil (HRC) [...]
Shares of TCS ended over 1 per cent lower on Tuesday after the company's December quarter results failed to cheer investors. The stock dipped 1.01 per cent to settle at Rs 3,286.20 apiece on the BSE. During the day, it fell 2.67 per cent to Rs 3,231. On the NSE, it went lower by 1.11 [...]
India has extended anti-dumping duty on imports of certain jute products from Nepal and Bangladesh for five years, a move aimed at protecting domestic players from cheap inbound shipments. These duties were imposed following recommendations of the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR). The DGTR, in its probe in September last [...]
No-frills airline Go First on Tuesday apologised to passengers who were left behind in a coach at Bangalore airport on Monday and said an inadvertent oversight in the reconciliation of the flight to Delhi led to the incident. The carrier has ordered an inquiry as well as derostered all the staff who were involved in [...]
Axis Bank on Tuesday said it has entered into a revised agreement with Max Financial Services to acquire an additional 7 per cent stake in Max Life Insurance at fair market value using discounted cash flow method. The revision in agreement follows the guidance issued by the Insurance Regulatory and Development Authority (IRDAI) in October [...]
