The Indian benchmark indices logged their fifth straight week of losses, the longest weekly losing streak since 2020 after Indian shares ended lower for a sixth straight session on Friday. The thirty share index fell 0.26% and settled at 52,793.62, while the NSE Nifty fell 0.16% to 15,782.15 points on Friday. Here’s a list of [...]
Shares of ACC and Ambuja Cements were in huge demand on Monday after Gautam Adani's group clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion. The stock of ACC rallied 7.79 per cent to Rs 2,288.15 on the BSE. Shares of Ambuja Cements gained 4.13 per [...]
Asia's richest man Gautam Adani's group on Sunday said it has clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion, marking the ports-to-energy conglomerate's entry into the cement sector. The Adani Group will acquire 63.1 per cent of Ambuja Cements Ltd along with related assets. Ambuja's [...]
Cryptocurrencies can lead to "dollarisation" of a part of the economy which would be against India’s sovereign interest, top officials of the RBI have told a parliamentary panel, according to sources. Briefing the Parliamentary Standing Committee on Finance chaired by former minister of state for finance Jayant Sinha, top officials of the RBI, including its [...]
AMG Media Networks, a unit of billionaire Gautam Adani's conglomerate Adani Enterprises, will pick a 49 per cent stake in Raghav Bahl-curated digital business news platform Quintillion Business Media Pvt Ltd for an undisclosed sum, according to a regulatory filing. Earlier in March, Adani Enterprises announced its foray into the media business by acquiring an [...]
The shares of Voltas, a Tata Group company have fallen by 15.17% in the last five days. There was a major fall on Friday after it reported earnings below estimates for the quarter ended March 2022. Its share price declined 9.78% intraday to ₹ 1,045 apiece. The air conditioning and engineering services company’s net profit [...]
Homegrown drug majors Lupin, Glenmark and Dr Reddy's Laboratories are recalling different products in the US, the world's largest market for medicines, due to deviation from standard manufacturing norms. As per the latest enforcement report by the US Food and Drug Administration (USFDA), Lupin is recalling over 33 lakh bottles of Losartan Potassium tablets, in [...]
The week started off as the Indian equity benchmarks slid. The Nifty 50 hit a fresh two-month closing low on Monday, extending losses to a second straight session. Global markets were weaker amid concerns related to rising interest rates and a tightening lockdown in Shanghai that added to the worries about global economic growth. Most [...]
Maruti Suzuki India (MSI) has lined up Rs 5,000 crore capex for various initiatives, including new product launches, for the current financial year, according to a senior company official. The country's top carmaker, which had earmarked around Rs 4,500 crore in FY22, also believes that parent Suzuki Motor Corp's investment in Gujarat would help in [...]
Majoritarianism will be extremely dangerous for the future of India and it should be resisted at every step, noted economist and former RBI governor Raghuram Rajan said on Saturday. Addressing a webinar, Rajan emphasised on the need to make the government more responsive to criticism by removing some of the legislative constraints on criticism. "Our trend towards [...]
