Edible oil firm Ruchi Soya Industries Ltd on Tuesday said the name of the company has been changed to Patanjali Foods Ltd with effect from June 24. In 2019, Baba Ramdev-led Patanjali Ayurved acquired Ruchi Soya for Rs 4,350 crore through an insolvency process. In a regulatory filing, Ruchi Soya informed that it has "received [...]
Moody's Investors Service has changed Tata Steel's outlook to positive from stable. The outlook change to positive shows the domestic steel giant's track record of delivering a solid operating performance while maintaining conservative financial policies and the likelihood that upward rating pressure will build over the next 12 months if the recent performance and credit [...]
Credit card spending has crossed Rs 1.13 lakh crore in May compared to Rs 1.05 lakh crore in the previous month according to official data. The month-on-month rise in spending through cards indicates a pick-up in economic activity. The latest data from the Reserve Bank of India (RBI) showed that 7.68 crore credit card holders [...]
Capital markets regulator Sebi has imposed a penalty of Rs 1 lakh on Bharti Infratel, now known as Indus Towers, for flouting rules pertaining to employee stock option schemes. In its order, Sebi found that Bharti Infratel violated the provisions of the SBEB (Share Based Employee Benefits) by not appropriating the excess 5,32,862 shares of the [...]
Shares of Indian multinational automotive corporation Mahindra & Mahindra which holds a 1.09% weightage in the Nifty50 Index achieved its all-time high on Tuesday. During the day, the stock reached an all-time high of ₹1121.45 and is currently trading at ₹1113, up by 2.80%, IST: 11:40. The shares of the company have given a multibagger [...]
Business Tycoon Pallonji Mistry, who was the chairman of the Shapoorji Pallonji group, passed away last night, mid-sleep, at his residence in South Mumbai. He was 93. “Pallonji Mistry, the end of an era. One of life’s greatest joys was to have witnessed his genius, his gentleness at work. My condolences to the family and [...]
The National Anti-profiteering Authority (NAA) has found Indiabulls Real Estate guilty of not passing on over Rs 6.46 crore input tax credit benefits to homebuyers by commensurate reduction in prices post rollout of GST. Based on a case filed by a homebuyer that Indiabulls Real Estate has not passed on ITC benefits in project Sierra-Vizag, [...]
Penny stocks are the shares of the small-cap companies which usually quote at very low values and are mostly illiquid. These are also known as nano-cap stocks or micro-cap stocks. Penny stocks have unpredictable pricing because the value of their actively traded shares is small. Therefore, they are subject to wide fluctuations but also have [...]
Bajaj Auto Ltd on Monday said its board has approved a share buyback programme for an aggregate amount of up to Rs 2,500 crore. The board of directors of the company, at its meeting held on Monday, approved the proposal for buyback of the fully paid up equity shares of the company with a face [...]
ICICI Lombard General Insurance Company on Monday said it will settle the MSME clients' admissible claims of up to Rs 5 lakh within 10 days of completing the claims survey. This marks the International MSME Day observed on June 27 to recognize the contribution of these industries. The claims settlement process is a first-of-its-kind service [...]
