The Karnataka High Court on Monday extended the stay on the Enforcement Directorate's (ED) order of freezing Rs 5,551 crore in the bank accounts of Xiaomi India. Justice S G Pandit extended the stay till June 1, with the hearing of the case posted to that day. The ED froze Xiaomi's accounts on April 29 [...]
Maruti Suzuki India (MSI) on Monday said it will acquire an equity stake of 12.09 per cent in Sociograph Solutions Pvt Ltd (SSPL) for about Rs 2 crore. SSPL is an artificial intelligence (AI) software company that specialises in visual AI platform predominantly used to help enterprises improve sales experiences and improve efficiency in their [...]
The markets started on a strong footing on Monday, despite mixed cues from Asian markets, however, metal stocks are under tremendous pressure. Steel stocks, in particular, faced deep cuts on Monday’s trades after the government imposed export duties, which may prompt steel companies to review massive capacity expansion plans. The government on Saturday decided to [...]
Multi-channel automobile buying and selling platform, CarTrade Tech Ltd on Monday said it has entered into a strategic alliance with Cholamandalam Investment and Finance Co Ltd to offer easy and smart financing for used cars. Under the partnership, Cholamandalam Investment and Finance (Chola) will become the preferred financier for customers purchasing used vehicles from CarWale [...]
Divi's Laboratories on Monday said its consolidated net profit increased by 78 per cent to Rs 895 crore in the quarter ended on March 31, 2022. The drug maker had reported a net profit of Rs 502 crore in the January-March quarter of 2020-21 fiscal. Revenue from operations rose to Rs 2,518 crore for the [...]
Steel product prices -- which were continuously rising in the domestic market -- are expected to fall by 10-15 per cent due to duty-related measures taken by the government, industry body Engineering Export Promotion Council (EEPC) on Monday said. Reacting to the government's move to levy export duty on some steel items, EEPC India Chairman [...]
Tata Power and Tata Motors have collaborated to develop a 7 MWp solar rooftop project at the latter's passenger vehicle plant in Chikhali, Pune. This is the third phase of a joint 17 MWp on-site solar project developed by the two companies, of which 10 MWp has already been installed, a company statement said. The [...]
Prime Minister Narendra Modi on Monday met Softbank Corporation founder and CEO Masayoshi Son to discuss the Japanese investment firm's future participation in Indian technology, energy, finance and R&D sectors. "Further propelling Japanese investments in India...PM @narendramodi met Founder @SoftBank_Group Masayoshi Son and commended Softbank's role in India's startup sector," MEA spokesperson Arindam Bagchi tweeted. [...]
The shares of Container Corporation of India surged 6.58% on Monday’s early trades. The shares saw a gap-up opening in the morning and are now quoting at ₹611.15 apiece. On May 19, 2022, the company declared its results for Q4FY22. The company clocked a revenue of ₹ 2043 crore, up 5% YoY. Further, its PAT [...]
Prolonged high temperatures are credit negative for India, as that could exacerbate inflation and hurt growth, Moody's Investors Service said on Monday. Over the longer term, India's highly negative credit exposure to physical climate risks means its economic growth will likely become more volatile as it faces increasing, and more extreme incidences of climate-related shocks, [...]
