Credit card spending touched an all-time high of ₹ 1.29 trillion in October, aided by festival season purchases. According to the latest data released by the Reserve Bank of India (RBI), this is 5.5 per cent higher than the previous month’s figure of ₹ 1.22 trillion. The RBI had mandated card issuers to deactivate credit [...]
Shares of NDTV continued to rally for the fifth day running on Wednesday, further climbing 5 per cent to hit its highest permissible trading limit for the day. NDTV founders Prannoy Roy and his wife Radhika Roy have resigned as the directors of promoter group vehicle RRPR Holding Private Limited as the Adani Group neared [...]
A Kotak Mahindra Bank arm on Tuesday announced that it has invested Rs 550 crore in Sanghi Industries Group by subscribing to non-convertible debentures of the cement-making company and its promoter grouping. Kotak Special Situations Fund's infusion will correct Sanghi Industries' capital structure, help the company's liquidity profile, and enhance its operations, according to a [...]
Toyota Kirloskar Motor Vice Chairman Vikram S Kirloskar has died due to a heart attack, the automaker said on Wednesday. He ws 64. "We are extremely saddened to inform the untimely demise of Vikram S Kirloskar, Vice Chairman, Toyota Kirloskar Motor on 29th November 2022. At this time of grief, we request everyone to pray [...]
Gland Pharma on Tuesday said it has entered into a put option agreement to acquire Europe-based Cenexi Group for up to EUR 120 million (around Rs 1,015 crore), marking its foray into the international markets. The company's wholly-owned Singapore-based unit Gland Pharma International PTE has entered into a 'Put Option Agreement' to acquire 100 per [...]
Most rated companies in India can withstand a weaker rupee, although external factors like rising interest rates in developed economies and higher energy prices would increase currency volatility, Moody's Investors Service said on Tuesday. In a commentary on non-financial companies in India, Moody's said on November 25, the Indian rupee touched 81.67 versus the US [...]
The government on Tuesday lifted the ban on exports of organic non-basmati rice, including broken rice after the easing of domestic supplies moderated prices. The government had, in early September, banned the export of broken rice with an aim to increase domestic availability. This followed a 20 per cent duty on the export of non-basmati [...]
The Life Insurance Corporation of India (LIC) has a stake in various companies. Many investors keep a track of the changes that the insurance behemoth does to its portfolio. LIC is the largest Life Insurer in India and has been providing life insurance for more than 65 years. Its shares debuted on the exchanges on [...]
The Reserve Bank on Tuesday said it will launch the first pilot for retail digital rupee (e₹-R) on December 1, 2022, in which four banks including SBI and ICICI Bank will initially participate. On November 1, the RBI had launched the first pilot in the digital rupee - wholesale segment. Announcing the operationalisation of Central [...]
The shares of Filatex Fashions Ltd were trading higher by more than 3 per cent at Rs 24.50 levels on Tuesday afternoon. The shares rallied after the company announced that it is planning a capacity expansion worth Rs 300 Crore. As per the plan, the company will be adding another 500 machines to meet the [...]
