Dismissing reports, the Reserve Bank on Monday said there is no proposal to replace the face of Mahatma Gandhi with that of others on currency notes. In a statement, the central bank said there are reports in certain sections of the media that the Reserve Bank of India is considering changes to the existing currency [...]
The National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings against RHC Holding, an entity promoted by former promoters of erstwhile Ranbaxy and Fortis Healthcare. RHC Holding is promoted by brothers -- Shivinder Singh and Malvinder Singh. A two-member NCLAT bench had admitted an appeal filed by Daiichi Sankyo against an order passed [...]
Indian Benchmark indices are trading on a weaker side as of Monday. Nifty50 is currently trading at 16,465-16,580 range and Sensex is currently trading at 55,450-55,741. In a weak market, here are a few recommendations given by brokerages for an upside of up to 31%. The CMP recorded is as 06-06-2022. In a weak market, [...]
Maruti Suzuki India (MSI) on Monday said it has set up a 20 MWp solar power plant at its Manesar-based manufacturing facility. The initiative will contribute 28,000 MW per annum, which is equivalent to the energy required for the production of over 67,000 cars annually. "Harnessing renewable energy is the need of the hour. We [...]
Prime Minister Narendra Modi on Monday stressed the need to make India's banks and currency an important part of the international trade and supply chain. He also exhorted financial institutions to continuously encourage good financial and corporate governance practices. Inaugurating the iconic week celebrations by the ministries of Finance and Corporate Affairs as part of [...]
Steel Ministry will convene a meeting of shareholders and creditors of state-owned NMDC on Tuesday to expedite the process of demerging the company's under construction Nagarnar Steel Plant (NSP). The Centre is aiming to complete the demerger of NSP from MMDC within the next four to five months, according to an official document. NMDC is [...]
Tata Motors on Monday said it has bagged an order for supply of 10,000 XPRES-T EV units from BluSmart Electric Mobility. The deployment of 10,000 units makes this the biggest ever EV fleet order in India, the auto major said in a statement. With deliveries starting soon, these vehicles are an addition to the 3,500 [...]
IT solutions provider Cyient will acquire Portugal-based wireless engineering services firm Celfinet for 41 million euro (about Rs 340 crore) in an all-cash deal, the Hyderabad-headquartered company said on Monday. With this acquisition, Cyient aims to strengthen its wireless engineering practice to support communication service providers (CSPs) and enterprises in deploying their networks at scale. [...]
Retail sales of passenger vehicles grew last month but the sales of two-wheeler and commercial vehicles remained low compared to the pre-COVID month of May 2019, according to automobile dealers' body FADA. On Monday, FADA said that overall auto retails stood at 16,46,773 units in May, down from 18,22,900 units in May 2019. "May 2022 [...]
After the announcement of Ultratech cement to increase their capital expenditure of ₹12,886 crores, in order to increase their capacity by the financial year 2025, the share of cement firms closed low on Friday. UltraTech Cement Ltd announced to increase of 22.6 mpta in its grinding capacity which would be nearly 17% of its capacity [...]
