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ITI Limited, a public sector telecommunications company, announced on Monday that it had created its own branded laptop and micro PC and introduced them to the market. The central PSU with headquarters in Bengaluru and that falls under the Ministry of Communication claimed that the products now bear the "SMAASH" brand. Shares of ITI hit [...]

A strategic partnership between Bestway Agencies Private Limited (BAPL), a fully owned subsidiary of Greaves Electric Mobility Private Limited, and Akasa Finance Limited, a prominent financier of e-rickshaws in India, has been announced. This partnership represents a significant turning point for the electric three-wheeler market, enabling consumers all over India to adopt more cost-effective and [...]

As part of the Open Market Sale Scheme (OMSS) to control retail prices, the government-owned Food Corporation of India (FCI) sold 1.66 lakh tonnes of wheat and just 17,000 tonnes of rice from the central pool through the 11th e-auction last week. In order to keep cereal prices in check, the government announced last month [...]

A Top official said on Monday, The government is looking at further easing foreign direct investment (FDI) norms in the space sector to attract overseas players. Huge scope is there for Saudi Arabian companies to invest in India in different sectors such as aviation, pharma, bulk drugs, renewable energy, food processing and agrti-tech. Secretary in [...]

On Monday IRB Infrastructure Developers Ltd (IRB) said its revenue from toll collection rose by 24 per cent to Rs 417.2 crore in August 2023. Last year same month toll collection stood at Rs 336 Cr, IRB said in a statement. Out of its 13 tolls, IRB MP Expressway in Maharashtra contributed the major share [...]

According to a report, The Indian pharmaceuticals industry is expected to log in revenue growth of 8-10 per cent in the current fiscal aided by steady domestic growth and increased exports to regulated markets, even as semi-regulated markets face headwinds. Crisil said on Monday that a study of 186 drug makers, which accounted for about [...]

CMD Vivek Kumar Dewangan said on Saturday, that REC has signed an initial pact with PFC committing higher revenue from operations in FY24 and FY25. The memorandum of understanding (MoU) has been signed as per the DPE (Department of Public Enterprises) Performance Evaluation System for FY24 and FY25 for Central Public Sector Enterprises, Dewangan told [...]

On Thursday the initial share sale of fintech player Zaggle Prepaid Ocean Services Ltd will open for public subscription. As per the red herring prospectus (RHP) submitted on Friday, the three-day initial public offering (IPO) will end on September 18, with the bidding for retail investors beginning on September 14 and for anchor investors on [...]

On Monday shares of energy efficiency solution company Rishabh Instruments Ltd. listed with a premium of more than 4 per cent against the issue price of Rs 441. On BSE the stock started the trade at Rs 460, up 4.30 per cent from the issue price. It further climbed 6.49 per cent to Rs 469.65. [...]

On Monday against the issue price of Rs. 98 shares of Ratnaveer Precision Engineering Ltd jumped nearly 31 per cent in its debut trade. The company manufacturer and supplier of steel washers. The company's shares began trading at Rs 128 per share on the BSE, up 30.61 per cent from the issue price. Later, it [...]

According to Chairman and Managing Director Saldanha, Glenmark Pharmaceuticals targets to grow its revenues by 10-11 per cent with a focus on free cash generation to reduce debt in the current financial year.  The Mumbai-based pharmaceutical giant is also aiming to increase EBITDA margins while extending its reach into more therapeutic areas like dermatology and [...]

A senior official of the company said that over the next couple of years to expand its footprint in smaller cities and towns with around 100-200 retail stores will be open by the textile division of Grasim Industries. It anticipates a spike in demand for textile goods in the upcoming festive season. "We are optimistic [...]

On Sunday, Brazil and India decided to cooperate in order to expand the India-Mercosur Preferential Trade Agreement (PTA) to further promote economic ties. An official statement said.  Brazil, Argentina, Uruguay, and Paraguay make up the Latin American commercial bloc known as Mercosur.  During their meeting here on the sidelines of the G20 Summit, Prime Minister [...]

In the 54th annual general meeting held on Wednesday, State-owned REC Ltd has received approval from shareholders to increase the overall borrowing limit of the company from Rs. 4.5 lakh crore to Rs. 6 lakh crore. "All the resolutions as set out in the Notice of 54th AGM, including addendum thereof, have been duly approved [...]

To develop a hydrogen hub at Tuticorin in Tamilnadu, NTPC Green Energy Ltd (NGEL) and V O Chidambaranar Port Authority (VOCPA) have joined hands. NTPC said in a statement that both entities signed a Memorandum of Understanding (MoU) in this regard on Friday. At the hub that will be constructed on the land supplied by [...]

Borosil is proud to provide Indian athletes and supporters with special edition Hydra Bottles at the Asian Games in 2022. Borosil is India's top glassware and kitchenware brand and one of the sponsors of the Indian Olympic Association. After the official Indian team uniform for the Asian Games was unveiled at the departure ceremony for [...]

The Incremental Cash Reserve Ratio (I-CRR), which was implemented to absorb excess liquidity following the withdrawal of Rs 2,000 currency notes, would be phased out starting on Saturday, the Reserve Bank announced on Friday. The RBI ordered banks to maintain a 10% incremental cash reserve ratio (I-CRR) on the growth in their net demand and [...]

A top company official said on Friday that Tata Group's Titan Company plans to open nine new stores of its jewellery brand Tanishq in Gujarat in the coming months, taking the number of stores to 28 in the state by the end of this fiscal.  Managing Director of Titan Company Ltd C K Venkataraman said [...]

With a groundbreaking ceremony for its new facility in Nashik, Maharashtra, General Mills India, a subsidiary of Fortune 500 packaged food company General Mills Inc., marks a significant accomplishment. This celebration honors General Mills' growing presence in India. By August 2024, operations at the facility, which will serve as the hub for producing Pillsbury Baking [...]

According to its Chairman Dheeraj Hinduja, commercial vehicle giant Ashok Leyland intends to introduce its entire product line with alternative fuel options over the next three to five years to cater to various customer groups. The second-largest producer of commercial vehicles in the nation, the Hinduja group flagship, also has expansion plans for the international [...]

Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn), recently added his voice to a growing chorus of voices around the world endorsing the nation's bold moves to position itself as an electronics and high-tech production powerhouse. He stated that India will be a significant country in terms of manufacturing in the future. [...]

SEBI on Thursday disposed of adjudication proceedings against state-owned LIC with respect to alleged violations of mutual fund norms. The case pertained to the insurer's shareholding in IDBI Mutual Fund. In a 12-page order, SEBI said the alleged violation on part of LIC is to be viewed in the context of the efforts taken by [...]

On September 13, RR Kabel Ltd. will open for public subscriptions for its inaugural share offering. The business has also chosen to reduce the size of its fresh issuance to Rs 180 crore. On September 15, the TPG Capital-backed wires and cables maker will complete its Initial Public Offering (IPO), which also includes an Offer [...]

On Thursday Battery maker Exide Industries Ltd said that in its wholly-owned arm Exide Energy Solutions Ltd it has invested over Rs. 100 crore, which is into manufacturing of advanced chemistry battery cells. It made the investment by way of subscription in the equity share capital of Exide Energy Solutions Ltd (EESL) on a rights [...]

On Thursday Hinduja group flagship Ashok Leyland said that it's aiming to be among the top 10 global commercial vehicle manufacturers in the near future. The heavy commercial vehicle maker is looking at exploring newer markets. According to the company chairman Dheeraj. For the company's 75th anniversary celebrations, top Ashok Leyland representatives were present. "You [...]

On day two of bidding on Thursday, The initial public offering (IPO) of multi-speciality hospital chain Jupiter Life Line Hospitals Limited was subscribed 3.30 times. According to NSE data, The IPO received bids for 2,80,31,300 shares against 84,97,169 shares on offer. 6.63 times was subscribed in the portion for non-institutional investors, the quota for Retail [...]

The domestic supply of the sweetener is not anticipated to be "adverse" in the 2023–24 season, according to the sugar cooperative NFCSF, which on Thursday dispelled rumours of a potential scarcity in the nation as a result of El Nino. Sugar season runs from October to September. The crushing process for 2023–24 has not yet [...]

On Thursday Speciality chemicals manufacturer Anupam Rasayan India said it has appointed Gopal Agrawal as the Chief Executive Officer (CEO) effective from September 11. Agrawal, a chartered accountant, previously held the positions of managing director and head of Edelweiss' investment banking division. "With his extensive experience and a proven track record in the financial and [...]

As part of a financial restructuring initiative, the state-owned Oil and Natural Gas Corporation (ONGC) will invest around Rs 15,000 crore in OPaL, pushing the gas utility GAIL out of the petrochemical company. ONGC currently holds a 49.36 per cent stake in ONGC Petro-additions Ltd (OPaL), which operates a mega petrochemical plant at Dahej in [...]

At the Global Stainless-Steel Expo 2023, more than 500 stainless steel industry stakeholders from India and overseas are anticipated to discuss the potential in the sector. The three-day Global Stainless-Steel Expo 2023 (GSSE 2023) will take place in Mumbai the following week, according to a statement released on Wednesday by the event's organizer, Virgo Communications [...]

On Thursday credit rating agency ICRA said that domestic air passenger traffic is likely to grow 8-13 per cent in the current fiscal and the aviation industry is also expected to trim the losses further. Icra, in its mid-year update on Indian aviation, also maintained a "stable outlook" on the industry, amidst the continued recovery [...]

A green steel project in Saudi Arabia will receive iron ore from the world's largest mining company, Vale International, the Indian firm said in a statement on Thursday. Essar had previously inked a pact with Bahrain Steel for the supply of DR-grade pellets for the project. The company said in a statement that with the [...]

Due to the favourable conditions for increased sugar output and the government's push for ethanol, Balrampur Chini Mills Ltd is optimistic about maintaining its strong double-digit growth, a senior company official said. The government's stress on the renewable fuel is helping the company to diversify significantly into energy, the official said. Avantika Saraogi said the [...]

The largest mutual fund in the nation, SBI MF, has agreed to invest Rs 410 crore in Nazara Technologies by subscribing to its preferential allotment of stock through private placement, the company announced on Thursday. The gaming and sports media platform said the shares carry a face value of Rs 4. In a preferential issuance [...]

Bioseed, the hybrid seed business of DCM Shriram Ltd, on Thursday announced a collaboration with grain commerce platform Arya.ag to harness latest technology to get data-driven insights into seed performance across diverse agro climatic zones. Arya.ag's innovative satellite surveillance and Artificial Intelligence product 'Prakshep' will be deployed across Bioseed's network of subscribed farmers. Bioseed said [...]

State-owned REC Ltd Chairman and Managing Director Vivek Kumar Dewangan on Wednesday stressed on the commitment to increase its loan book of green projects by ten times to more than Rs 3 lakh crore by 2030. Dewangan chaired the annual general meeting on Wednesday, which was attended by all directors on the board of the [...]

Fair trade regulator CCI has issued draft rules pertaining to the value of transactions for combinations under the new competition law. Earlier this year, various provisions of the Competition Act were amended. As per the draft norms issued by the Competition Commission of India (CCI), the value of transaction shall include "every valuable consideration, whether [...]

Setting up a transnational grid interconnection system will make round-the-clock (RTC) clean energy supply cheaper and reduce the dependence on storage, Union Minister of PowerR K Singh said on Wednesday at a conference on 'Transnational Grid Interconnections for One Sun, One World, One Grid (OSOWOG)'. The initiative aims at connecting energy supply across borders. Special [...]

Reliance Industries on Wednesday said it has received Rs 8,278 crore from Qatar Investment Authority (QIA) for around 1% stake in Reliance Retail Ventures Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led group. As per the deal, it has allotted 6.86 crore equity shares to QIA of RRVL, which is the leading retailer in [...]

Airtel Payments Bank, identity technology company IDEMIA and Nokia brand phone maker HMD Global have joined hands to bring Central Bank Digital Currency on feature phones in India, a joint statement said on Wednesday. All three organizations would be working together to introduce an advanced offline payment system over the next few months that would [...]

In a joint venture, Reliance Retail has acquired a 51% share in the Ed-a-Mamma children's and maternity clothes line, which is promoted by Bollywood actress Alia Bhatt. Reliance Retail Ventures Ltd (RRVL), the holding company for Reliance Industries Ltd (RIL), the business empire of billionaire Mukesh Ambani, stated in a statement that it seeks to [...]

On Wednesday, Biocon announced that its subsidiary Biocon Biologics had finished integrating the North American biosimilars business it had purchased from Viatris with effect from September 1, 2023. Biocon said in a regulatory filing that Since the acquisition agreement closed in November 2022, Biocon Biologics has executed a robust integration plan to ensure a seamless [...]

On Wednesday Electric two-wheeler maker Ather Energy said that the company has raised Rs 900 crore from existing shareholders Hero MotoCorp and GIC through a rights issue. Ather Energy said in statement that the firm intends to use the cash for the introduction of new products as well as the growth of its retail network [...]

ABB India, an automation business, and Tata Steel have teamed up to develop technology that would lessen the carbon impact of steel production. In its Indian operations, the steelmaker has set a medium-term goal to cut carbon emissions to under two tonnes of CO2 per tonne of crude steel by 2025, according to a statement [...]

On Wednesday Apollo Hospitals said it has expanded its partnership with Google Cloud for its digital platform, Apollo 24/7. With telemedicine services, online doctor consultations, home drug delivery, and better clinician decision-making, Apollo 24/7, which was built entirely on Google Cloud, seeks to provide Indians with an omnichannel healthcare experience. "Generative AI has the transformative [...]

Suzuki Motor Corporation on Wednesday said it has inked a pact with National Dairy Development Board (NDDB), and Gujarat-based Banas Dairy to set up four biogas plants in Gujarat with an investment of around Rs 230 crore. The three-party agreement between Suzuki R&D Center India, a wholly- owned subsidiary of Suzuki, NDDB and Banas Dairy [...]

For the initial public offering (IPO), Gujarat-based civil construction business Chavda Infra Ltd. has established a price range of Rs. 60-65 per share. On Tuesday the company said in a statement that the IPO will open for public subscription on September 12 and will conclude on September 14, while the bidding for the anchor investors [...]

Jio Satellite Communications has written to telecom regulator TRAI to allow flexible use of spectrum for satellite and mobile phone services networks. The company in a letter dated September 5 to Telecom Regulatory Authority of India Chairman PD Vaghela said technology is evolving that will enable convergence of satellite and terrestrial networks and therefore the [...]

MP Birla Group flagship company Birla Corporation has drawn up a strategy to augment its cement production capacity to 25 million tons by the 2025-26 fiscal from the existing 20 million tons, officials said on Tuesday. The cement maker is planning to meet its targeted production by increasing capacity utilisation at its Mukutban plant in [...]

Private lender IDBI Bank has filed an appeal against the NCLT order approving the merger of Zee Entertainment Enterprise Ltd (ZEEL) with Culver Max Entertainment, formerly Sony Pictures Networks India. The lender has moved the National Company Law Appellate Tribunal (NCLAT) against the order. Earlier, the Mumbai bench of the National Company Law Tribunal (NCLT) [...]

Vedanta Resources Ltd (Vedanta) on Tuesday said it will restart copper operations in Zambia after a government decision in favour of the company.  In a statement, the metal and mining giant said that the ownership and management of Konkola Copper Mines (KCM) has been returned to the company by the Government of Republic of Zambia. [...]

Integrated fund and development management platform Welspun One on Wednesday said it will set an in-city warehousing facility in Thane with an outlay of around Rs 600 crore. The facility is strategically located in close proximity to the prime eastern suburbs of Thane and Mulund and the eastern express highway, as per the company. This [...]

A group representing the interests of businesses and investors has been formed by four listed real estate investment trusts. Real Estate Investment Trusts (REITs) will continue to flourish as a result of the efforts of the Indian REITs Association, a nonprofit organization established with the assistance of the Securities and Exchange Board of India (Sebi) [...]

In order to co-finance renewable energy projects, state-owned IREDA has partnered with public sector lenders Union Bank of India and Bank of Baroda. IREDA, a non-banking financial entity operating under the Ministry of New and Renewable Energy, provides funding for the establishment of projects involving new and renewable energy sources as well as energy efficiency/conservation. [...]

In order to improve scalability and agility, the public sector Indian Bank has partnered with Nasdaq-listed IBM to develop infrastructure that is future-ready. The city-based bank's 'Project Paradise' plan called for consolidating its front branch servers at data centres and disaster recovery facilities for greater manageability and availability. Project Paradise initiative of the Indian Bank [...]

On Tuesday, shares of Vishnu Prakash R Punglia Ltd. made an impressive market debut and concluded the day with a premium of more than 47 per cent over the Rs. 99 issue price. The company is into Engineering, Procurement, and Construction (EPC) works. The shares opened for trading at Rs 163.30, up 64.94 per cent [...]

The Financial Stability Board (FSB), located in Switzerland, issued a warning on Tuesday ahead of the G20 Summit here that rising interest rates and a declining growth forecast could make it more difficult for borrowers to pay down historically high levels of debt. The FSB has published two letters from its Chair, Klaas Knot, to [...]

Sreeram Venkateswaran has hired as President and Chief Business Officer for domestic sales and customer service by Daimler India Commercial Vehicles (DICV), the company announced on Tuesday. DICV said in a statement that Venkateswaran will be responsible for driving domestic business growth, nurturing strategic partnerships, expanding the BharatBenz sales and service network among others, In [...]

Mahindra & Mahindra announced on Tuesday that it will partner with Star Sports as an associate sponsor for the ICC Cricket World Cup, which begins in a month. Mahindra & Mahindra (M&M) said in a statement the as the broadcast associate sponsor for Star Sports and co-powered sponsor for Disney+Hotstar during the ICC Men's Cricket [...]

On Tuesday officials said that the CBI has detained an executive director of GAIL in connection with an alleged Rs 50 lakh bribery case in which money was exchanged to favour a few contractors working on gas pipeline projects. Along with Executive Director (Projects) K B Singh of GAIL, four others have also been arrested, [...]

Samhi Hotels and Jaipur-based retail jewelry company Motisons Jewellers have received capital markets regulator SEBI's go-ahead to raise funds through an initial public offering. The two firms had re-filed their preliminary papers with SEBI in March this year, and obtained its observation letters during August 28-31, an update with SEBI showed on Tuesday. In SEBI's [...]

Tata Steel announced a total payout of Rs 314.70 crore on account of annual bonus to employees for the year 2022-2023 following the signing of a Memorandum of Settlement with Tata Workers’ Union (TWU) here. As per the Memorandum of Settlement the total payout for eligible employees of all applicable divisions of the Company on [...]

Automobile sector has seen growth across all segments, witnessing retail sales growth of 9% in August 2023, stated by FADA on Tuesday. The total retail sales across segments rose to 18,18,647 units last month, up 9%, from 16,74,162 units in August 2022. Combined retail sales across all segments increased to 1,818,647 units from 1,674,162 units [...]

On Monday, the manufacturer of specialized equipment for the defence industry, Maritronics India, a supplier of marine equipment and spare parts, made the announcement. The company, in a statement, said it is in the process of setting up its own manufacturing facility in Chennai, which is expected to start production in the next one year. [...]

An official statement said the state-owned NTPC will host a conference on "Green Hydrogen Pilots in India" on Tuesday. On Monday the Ministry of New Renewable Energy said in a statement that the conference will showcase various pilot projects on green hydrogen being implemented by both public and private sector companies of India. In the [...]

According to Executive Director Aakash Ohri of real estate giant DLF, it anticipates making roughly Rs 400 crore from the sales of 92 opulent independent floors that it will build on corner plots in Gurugram. The company is launching 92 standalone storeys on its several corner plots in Gurugram. These floors, which range in size [...]

In order to meet the changing needs of farmers, Mahindra Group's Swaraj Tractors announced on Monday that it has invested Rs 200 crore in the development of a new line of tractors in the 40–50 HP category. The company said the new products will eventually replace its current tractors in the category. Mahindra & Mahindra [...]

On Monday Co-working space operator EFC (I) Ltd said that it has entered into the Delhi-NCR market with the start of a new centre in Noida comprising a 65,000 square feet area. The new centre, which is situated in Noida's Sector 62, will house several brands, including Tata Capital and Virtuous Transactional Analyst. According to [...]

Gati, an Allcargo Group company, announced on Monday that it has teamed up with Tech Mahindra to create an application that will increase efficiency and open up new business options for the firm. The company said Tech Mahindra will enable Gati, over the next 18-24 months, to custom develop the software application -- Gati Enterprise [...]

On Monday, Muthoot FinCorp announced plans to issue non-convertible debentures (NCDs) to raise up to Rs 400 crore. According to a statement from the company, the issue is a part of the Rs 1,100 Cr debt-raising plan approved by the board. The base size of the issue is Rs 100 crore with a green shoe [...]

For its 2,880 MW Dibang multipurpose project in Arunachal Pradesh, state-owned BHEL said on Monday that it has received an order from NHPC. BHEL said in a statement, that the order for the electro-mechanical (E&M) work for the project has been bagged against stiff competition under international competitive bidding, It however did not share the [...]

The 12-screen Superplex in Forum South Bengaluru, Kanakapura Road, Bengaluru, owned by PVR INOX, the biggest and most upscale movie theater exhibitor in India, has opened an ICE THEATERS® premium auditorium. After opening the first two in Delhi and Gurugram, this is the third ICE THEATERS® theater in the nation. By placing LED panels on [...]

Chief Minister Thakur Sukhvinder Singh Sukhu has said, the Himachal Pradesh government would introduce an effective policy to expand electric car charging stations in the state and engage private operators to put up e-charging stations with a 50% subsidy. Presiding over a high-level meeting on Sunday evening in Shimla, he said the policy would focus [...]

EMS Ltd, a major participant in the water and sewage infrastructure, announced on Monday that it had set a price range of Rs 200-211 per share for its Rs 321 crore initial public offering (IPO). The issue will open for public subscription during September 8-12 and the bidding for anchor investors will open on September [...]

Implementation of multiple proposed regulatory specifications can push up commercial vehicle prices by 10-12%, ratings agency ICRA said on Monday. In its report on the Indian commercial vehicle industry, ICRA said the domestic automotive industry is undergoing rapid transformations, with increased focus by the government on implementing emission norms, safety systems and other standards that [...]

Honda Cars India plans to introduce five sports utility vehicles in the country by 2030 as it looks to have a strong presence in the robustly growing segment, according to a top company executive. The company, a wholly-owned subsidiary of Japanese auto major Honda Motor Company, on Monday made a foray into the midsize SUV [...]

Ayana Renewable Power, one of the largest Independent Power Producers (IPP) in India and backed by National Infrastructure and Investment Fund (NIIF), British International Investment (BII) and Green Growth Equity Fund, has signed a Power Purchase Agreement with Hindalco Industries Limited, the metals flagship company of the Aditya Birla Group, for the supply of 100 [...]

Air India CEO Campwell Wilson stated that the group airlines has recruited and onboarded 650 pilots since April 2023. To enhance airline services to the US and increase capacity, Air India Widebody Boeing 777 fleet will have two more by the first week of September in addition to the 2/3 long grounded 787s that have [...]

Recycling industry participant Vikas Lifecare announced on Friday that its board had approved funding up to Rs 40 crore through the preferential sale of convertible warrants. The proposal is subject to the approval of the shareholders at the next annual general meeting which has been scheduled for later this month, the company said in a [...]

State-owned NMDC said on Friday that iron ore production increased by 37.5% to 3.41 million tonnes (MT) in August 2023. The miner had produced 2.48 MT of iron ore in the same month last year. During August, the company's sales also rose by 25 per cent to 3.54 MT from 2.83 MT in August 2022. [...]

State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy. Six of the seven ships that will be built as part of the P17A Project have already been launched between September 2019 and August [...]

The company announced on Thursday, that Aditya Birla Fashion and Retail plans to raise Rs 750 crore on or after September 4 through debt bonds. According to a regulatory filing by Aditya Birla Fashion and Retail (ABFRL), the business would raise money through a private placement. "The Company proposes to raise funds by issuing 75,000 [...]

State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy. The P17A Project comprises the construction of seven ships, of which six have been launched between September 2019 and August 2023. In a statement [...]

Jupiter Life Line Hospitals, a multispecialty hospital network, announced on Friday that it has set a price range of Rs. 695-735 per share for its Rs. 869-crore initial public offering (IPO). The company said the initial share sale will open for public subscription during September 6-8 and the bidding for anchor investors will open on [...]

The winning bidder, Jalan Kalrock Consortium, announced on Thursday that it has invested an additional Rs 100 crore in Jet Airways, bringing its total investment in the airline to Rs 250 crore. "JKC confirms to have deposited Rs 100 crores in Jet Airways in less than 48 hours of the NCLAT allowing implementation of the [...]

Verlinvest Asia Pte Ltd, an investment firm, sold a 12.56 per cent stake in the wine manufacturer Sula Vineyards on Thursday for Rs 513 crore in an open market deal. Following the stake sale, shares of Sula Vineyards declined 3.62 per cent to close at Rs 490.30 apiece on the NSE. According to the bulk [...]

BSE said on Thursday that the recently demerged entity from Reliance Group Led by Mukesh Ambani, Jio Financial Services will be dropped from all S&P BSE indices from September 1 prior to trading open. Earlier, the stock was slated to be removed from the indices on August 24. Later, it was postponed to August 29. [...]

Following the industry wide and to an extent the sector wide trend of premiumization to drive margin expansions, Hero Electric has stated on Thursday that it is diversifying into the premium segment through the A2B brand to create differentiated brands to cater to multiple segments in the electric mobility space. Under this brand the company [...]

Zydus Lifesciences on Thursday said it has received approval from the US health regulator to market a generic product to treat acne in the American market. The drug firm has received final approval from the US Food and Drug Administration (USFDA) for Isotretinoin Capsules USP (10 mg, 20 mg 30 mg and 40 mg), it [...]

According to the Draft Red Herring Prospectus of Jupiter Life Line Hospitals subscription will open on September 6 and the three day initial public offering (IPO) will conclude on September 8 and the bidding for anchor investors will open on September 5.  The hospital chain operates in Thane, pune, Indore under the “Jupiter” brand with [...]

Amazon on Thursday said it has signed an agreement with India Post to simplify cross-border logistics for MSME exporters. Minister of State for Science and Technology Jitendra Singh unveiled a postal stamp to commemorate a decade of partnership between India Post and Amazon at the e-commerce company's Sambhav Summit 2023. At Amazon’s E-commerce SMBHAV Summit [...]

On Thursday, Ashok Leyland, a manufacturer of commercial vehicles, announced a partnership with CSB Bank Ltd to provide vehicle financing solutions to its clients. A Memorandum of Understanding between the two businesses will allow them to work together to provide consumers of the automaker with specialized financial solutions, Ashok Leyland said in a statement. "The [...]

On the first day of subscriptions on Wednesday, 73% of the shares of Rishabh Instruments' Initial Public Offering (IPO), a provider of worldwide energy efficiency solutions, were subscribed The IPO received bids for 56,75,008 shares against 77,90,202 shares on offer, as per the NSE data. The category for Non-Institutional Investors (NIIs) was subscribed 1.24 times, [...]

The most valued fintech business in India, operating profit is anticipated by 2025, a top official of the company said on Wednesday. PhonePe founder and CEO Sameer Nigam told PTI that the company's payment, advertising, banking and insurance businesses will reach breakeven by the time the company becomes operationally profitable at the group level. While [...]

In an open market transaction Japanese conglomerate Softbank on Wednesday sold a 1.16 per cent stake in online food ordering company Zomato for Rs 947 crore. Softbank through its affiliate SVF Growth (Singapore) Pte offloaded the shares of Zomato on the National Stock Exchange. Aditya Birla Sun Life Mutual Fund (MF), Axis MF, Franklin Tempelton [...]

In open market transactions on Wednesday, four entities sold shares of the NBFC company Spandana Sphoorty Financial for Rs 268 crore. Valiant Mauritius Partners FDI, Valiant India Opportunities, Valiant Mauritius Partners and Valiant Mauritius Partners Offshore were the entities that sold the shares of Spandana Sphoorty Financial on the BSE. According to BSE Bulk Deal [...]

The IPO-bound Honasa Consumer Ltd., which owns new-age FMCG brands like Mamaearth and The Derma Co., anticipates raising Rs 400 crore from listing and plans to use the money primarily for offline expansion, bringing more brands to market, and acquisitions, its Co-founder and CEO Varun Alagh said. In addition to scaling its other brands like [...]

On Thursday, shares of Aeroflex Industries were listed on the exchanges at a significant premium of 83% over their issue price of Rs 108. The stock listed at Rs 197.40, reflecting a steep jump of 82.8 per cent on the BSE. On the NSE, the scrip made its debut at Rs 190, witnessing a sharp [...]

A 28.12-megawatt green energy facility will be built in Maharashtra through a partnership between Tata Power Renewable Energy Limited (TPREL) and Sanyo Special Steel Manufacturing India Private Limited (SSMI). In a statement on Thursday, TPREL, an arm of Tata Power, said it has signed the Power Delivery Agreement (PDA) with SSMI through its Special Purpose [...]