Passenger vehicle dispatches to dealers in India rose over two-fold last month on a low base of Covid-19-hit May last year. As per the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle wholesales rose to 2,51,052 units last month as compared to 88,045 units in May 2021. The two-wheeler sales rose to 12,53,187 units in [...]
The basket of crude oil that India buys has hit a decade high of USD 121 per barrel, but retail selling prices of petrol and diesel continue to remain frozen. The Indian basket on June 9 touched USD 121.28, matching levels seen in February/March 2012, according to data available from the oil ministry's Petroleum Planning [...]
Devyani International has been a stable and consistent performer on the bourses since its listing in August last year. The shares of the Yum! Brands’ largest franchise in India gave a listing gain of 31.67% on its opening date. Since then they have climbed 37.8% more and were trading at ₹ 161.40 as of 12:00 [...]
The Abu Dhabi Investment Authority (ADIA) has picked up a 20 per cent stake in IIFL Home Finance for Rs 2,200 crore, a statement said. The Abu Dhabi sovereign wealth fund will make the investment through a wholly-owned subsidiary, said IIFL Home Finance, which is among the largest affordable housing financiers with assets under management [...]
Famous chemical manufacturer, Deepak Nitrite witnessed five major chemical blasts at its manufacturing facility in Vadodara on June 2. The company’s shares have fallen almost 13% in the last five trading sessions amid the news of reports of the Gujarat government issuing a closure notice to the company upon the incident. The shares of the [...]
Reddy's Laboratories on Thursday said its subsidiary has inked a pact with US-based Olema Pharmaceuticals Inc to research, develop and commercialise novel small molecule inhibitors of an undisclosed oncology target. Olema and Aurigene Discovery Technologies, a wholly-owned unit of Dr Reddy's Laboratories, have inked an exclusive global licence agreement in this regard. Under the terms [...]
Farm machinery and construction equipment maker Escorts on Thursday said it has received requisite approvals for changing its name to Escorts Kubota Ltd. The name change comes in the wake of Japan's Kubota Corporation increasing its stake in Escorts to 44.8 per cent by subscribing to new equity shares and through an open offer to [...]
The Competition Commission of India (CCI) on Thursday slapped penalties of nearly Rs 30 lakh on seven entities, including individuals, for indulging in manipulation in the bidding process and cartelisation in the tenders floated by the Indian railways. The CCI found that seven entities have violated competition norms. Out of 7 entities, the fair trade [...]
Global full-stack content platform Pepper Content on Thursday said it has raised USD 14.3 million (Rs 110 crore) in its Series A funding round led by Bessemer Venture Partners. The round also saw the participation from Tanglin Venture Partners, Lightspeed, Titan Capital, and seasoned global operators like Gokul Rajaram, Ritesh Agarwal, Abhinav Sinha, Ankur Nagpal, [...]
The Enforcement Directorate has attached a Cessna jet worth about Rs 31 crore under the anti-money laundering law as part of its probe against former CMD of Bhushan Power and Steel Limited (BPSL) Sanjay Singal and others in connection with alleged bank loan fraud, officials said on Thursday. The aircraft, a Cessna 525 A CJ [...]
