Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, today signed definitive agreements to acquire a 100 [...]
The Competition Commission of India (CCI) on Wednesday said it has approved the purchase of a minority stake in UPL Sustainable Agri Solutions (UPL SAS) by TPG and Abu Dhabi Investment Authority (ADIA). The deal has been cleared under the green channel route. Under this framework, a transaction which does not raise any risk of [...]
Benchmark equity indices BSE Sensex and NSE Nifty 50 ended in the red on Wednesday, after starting the session in the green, tracking global markets. Financial shares dragged the indices lower while gains in healthcare and IT shares supported the market. The BSE Sensex ended the session at 61067.24 points, down 1.03% or 635.05 points. [...]
The Initial Public Offer (IPO) of electronics manufacturing services company Elin Electronics was subscribed 95 per cent on the second day of subscription on Wednesday. The IPO received bids for 1,34,54,580 shares against 1,42,09,386 shares on offer, as per NSE data. The category meant for non-institutional investors was subscribed 1.29 times, Retail Individual Investors (RIIs) [...]
Shares of firms related to healthcare were in the limelight on Wednesday amid surging COVID cases in China and some other countries. Union Health Minister Mansukh Mandaviya on Wednesday reviewed the Covid-19 situation in the country. Shares of Thyrocare Technologies jumped 14.85 per cent, IOL Chemicals and Pharmaceuticals rallied 14.16 per cent, Vijaya Diagnostic Centre [...]
The initial share-sale of KFin Technologies was subscribed 2.59 times on the last day of offer on Wednesday. The Initial Public Offer (IPO) received bids for 6,14,67,520 shares against 2,37,75,215 shares on offer, according to an update on NSE. The category for Qualified Institutional Buyers (QIBs) was subscribed 4.17 times, the portion for Retail Individual [...]
The shares of Axis Bank Limited continued to rally on Wednesday and reached a new 52-week high of Rs 958.90 in the early hours. In the span of a month, the stock has zoomed approximately 8 percent. Axis Bank is the third largest private sector bank in India. The Bank offers the entire spectrum of [...]
As many as 1,84,399 Gram Panchayats in the country have been made service-ready with broadband infrastructure under BharatNet, as on November 28, 2022, Parliament was informed on Wednesday. BharatNet project is being implemented in all the Gram Panchayats (GPs) and villages of the country to provide high speed internet and broadband, Minister of State for [...]
The demand for finished steel in India is expected to grow eight per cent this year compared to 2021, according to rating agency Icra. Supported by the government's infrastructure-led growth model, domestic finished steel demand has registered a double-digit growth of 11.9 per cent in the first eight months of the current fiscal, the ratings [...]
Around 71 multi-state cooperative societies are under liquidation this year so far, with the maximum number of them located in Rajasthan, Maharashtra, Delhi and Odisha, Parliament was informed on Wednesday. According to the data placed by Cooperation Minister Amit Shah in his written reply to the Rajya Sabha, five multi-state cooperative banks were also under [...]
