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News Alert

NEWSALERT

Goods and Services Tax (GST) mop up in November at over Rs 1.31 lakh crore, up from Rs 1.30 lakh crore in October: FinMin. PTI JD DRR DRR

NEWSALERT

Rupee surges 23 paise to 74.90 against US dollar in early trade. PTI DRR BAL BAL

NEWSALERT

Sensex jumps 612.66 pts to 57,677.53 in opening session; Nifty surges 207.80 pts to 17,191.00. PTI BAL DRR DRR

IPO Alert

Tega Industries IPO fully subscribed within 1 hour

New Delhi, Dec 1 (PTI) The initial public offer of Tega Industries Limited, manufacturer of consumables for the mining industry, was fully subscribed within the one hour of opening for subscription on Wednesday.The Rs 619.22-crore IPO received bids for 1,01,82,315 shares against 95,68,636 shares on offer, translating into 1.06 times subscription, according to NSE data.The [...]

RateGain Travel Technologies IPO to open on Dec 7; sets price band at Rs 405-425/share

New Delhi, Dec 1 (PTI) RateGain Travel Technologies on Wednesday said it has fixed a price band of Rs 405-425 a share for its Rs 1,335 crore-IPO, which will open for public subscription on December 7. The three-day initial public offering (IPO) of the travel and hospitality technology services provider will conclude on December 9. [...]

Tega Industries mobilises Rs 186 crore from anchor investors ahead of IPO

New Delhi, Nov 30 (PTI) Tega Industries, manufacturer of consumables for the mining industry, on Tuesday said it has garnered Rs 186 crore from anchor investors ahead of its initial share-sale that opens for public subscription on Wednesday.     The company has decided to allocate 41 lakh equity shares to anchor investors at Rs 453 [...]

Star Health IPO subscribed 12 pc on first day of offer

New Delhi, Nov 30 (PTI) The initial public offer of Star Health and Allied Insurance Company Limited was subscribed 12 per cent on the first day of subscription on Tuesday.The three-day IPO received bids for 53,19,008 shares against 4,49,08,947 shares on offer, according to NSE data.The category for Retail Individual Investors (RIIs) received 64 per [...]

ICICI Venture divests partial stake in Go Fashion

New Delhi, Nov 30 (PTI) ICICI Venture, the alternative asset arm of ICICI Bank, on Tuesday said it has divested half of its 13.5 per cent stake in the recently concluded IPO of Go Fashion (India) Ltd, which owns women's wear brand Go Colors.       ICICI Venture, through its fourth private equity fund India Advantage [...]

Go Fashion shares jump over 81 pc in debut trade

New Delhi, Nov 30 (PTI) Shares of Go Fashion, which owns women's clothing brand Go Colors, on Tuesday listed with a huge premium and settled with over 81 per cent gains against its issue price of Rs 690. It listed at Rs 1,316, reflecting a steep jump of 90.72 per cent on the BSE. The [...]

Top Editor’s Pick

India’s mfg sector gain further strength in Nov on strong rise in production, sales: PMI

India’s manufacturing sector activities gained further strength in November, and witnessed the strongest increase in production and sales since February on improving market conditions, a monthly survey said on Wednesday. Purchasing Managers’ Index or PMI is an economic indicator that is derived after monthly surveys of different companies. It helps in determining whether the market [...]

RateGain Travel Technologies IPO to open on Dec 7; sets price band at Rs 405-425/share

New Delhi, Dec 1 (PTI) RateGain Travel Technologies on Wednesday said it has fixed a price band of Rs 405-425 a share for its Rs 1,335 crore-IPO, which will open for public subscription on December 7. The three-day initial public offering (IPO) of the travel and hospitality technology services provider will conclude on December 9. [...]

India to have 500 mn 5G subscriptions, avg traffic per smartphone to touch 50 GB/month by 2027-end: Ericsson

New Delhi, Nov 30 (PTI) 5G is on track to become the dominant mobile access technology in terms of subscriptions globally by 2027 with 5G representing around 39 per cent of mobile subscriptions or 500 million users at the end of 2027 in India, telecom gear maker Ericsson said on Tuesday. 5G is expected to [...]

New Bill on cryptocurrency after Cabinet approval: Sitharaman in Rajya Sabha

New Delhi, Nov 30 (PTI) The government will soon bring in a new Bill on cryptocurrency after it is approved by the Union Cabinet, said Finance Minister Nirmala Sitharaman on Tuesday in the Rajya Sabha. A Bill on Cryptocurrency and Regulation of Official Digital Currency for introduction in the Lok Sabha has been included in [...]

Shares of Reliance Capital tumble 5% as RBI supersedes Co board

Shares of Reliance Capital Ltd on Tuesday tumbled 5 per cent to its lower circuit limit, a day after the Reserve Bank superseded the board of the Anil Ambani promoted company. Reliance Capital Limited is an Indian diversified financial services holding company promoted by Reliance Anil Dhirubhai Ambani Group. It has businesses in asset management, [...]
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Dec 1, 2021

India’s mfg sector gain further strength in Nov on strong rise in production, sales: PMI

Economy, Editor's Pick, News

India’s manufacturing sector activities gained further strength in November, and witnessed the strongest increase in production and sales since February on improving market conditions, a monthly survey said on Wednesday. Purchasing Managers’ Index or PMI is an economic indicator that is derived after monthly surveys of different companies. It helps in determining whether the market [...]

Dec 1, 2021
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Nov 30, 2021

Go Fashion shares list with nearly 91% premium

Editor's Pick, IPO, News

Shares of Go Fashion, which owns women’s clothing brand Go Colors, on Tuesday listed with a huge premium of nearly 91 per cent over its issue price of Rs 690. The company is engaged in the development, design, sourcing, marketing and retailing of a range of women’s bottom-wear products under the brand ‘Go Colors’. Its [...]

Nov 30, 2021

Trending News

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Dec 1, 2021 12:36 pm

Bengal secures USD 135 million World Bank loan to upgrade rural power distribution network

News

(Eds: Adding a word in headline) ​ Kolkata, Dec 1 (PTI) International Bank for Reconstruction and Development (IBRD) has approved a USD 135 million loan to West Bengal to improve the operational efficiency and reliability of electricity supply in select pockets in the state. The IBRD and its concessional lending arm, the International Development Association [...]

Dec 1, 2021 12:36 pm
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Dec 1, 2021 12:31 pm

Simpl Announces 40M in Series B Funding

News

BANGALORE, India, Dec. 1, 2021 /PRNewswire/ -- Simpl, a cardless payment network with embedded 1-Tap Checkout, Buy Now Pay Later and Buyer Protection, has raised a $40M Series B round led by Valar Ventures & IA Ventures with participation from LFH Ventures and other internal investors. This investment brings the total capital raised by the [...]

Dec 1, 2021 12:31 pm
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Dec 1, 2021 12:30 pm

KOLKATA BULLION OPENING

Commodities, News

Kolkata, Dec.01(PTI): SILVER RDY (BAR) : Rs.62,900.00 Per Kg. SILVER RDY. (PORTION) : Rs.63,000.00 Per Kg. GOLD (24-CARAT) RDY. : Rs.48,750.00 Per 10 Gms. GOLD (22-CARAT) RDY. : Rs.46,250.00 Per 10 Gms. HALLMARKED GOLD (22-CARAT) RDY. : Rs.46,950.00 Per 10 Gms. ---- PTI SAM SAM

Dec 1, 2021 12:30 pm
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Dec 1, 2021 12:26 pm

NEWSALERT

News, News Alert

Goods and Services Tax (GST) mop up in November at over Rs 1.31 lakh crore, up from Rs 1.30 lakh crore in October: FinMin. PTI JD DRR DRR

Dec 1, 2021 12:26 pm
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Dec 1, 2021 12:15 pm

GDP likely to grow more than 9.5% in FY22: Report

Economy, News

Mumbai, Dec 1 (PTI) The country's gross domestic product (GDP) is likely to grow more than 9.5 per cent in fiscal 2021-22, an SBI research report-Ecowrap said.The economy grew at 8.4 per cent in the second quarter of the current fiscal, according to data released by the National Statistical Office (NSO) on Tuesday. The growth [...]

Dec 1, 2021 12:15 pm

Latest Market News

Bengal secures USD 135 million World Bank loan to upgrade rural power distribution network

(Eds: Adding a word in headline) ​ Kolkata, Dec 1 (PTI) International Bank for Reconstruction and Development (IBRD) has approved a USD 135 million loan to West Bengal to improve the operational efficiency and reliability of electricity supply in select pockets in the state. The IBRD and its concessional lending arm, the International Development Association [...]

Simpl Announces 40M in Series B Funding

BANGALORE, India, Dec. 1, 2021 /PRNewswire/ -- Simpl, a cardless payment network with embedded 1-Tap Checkout, Buy Now Pay Later and Buyer Protection, has raised a $40M Series B round led by Valar Ventures & IA Ventures with participation from LFH Ventures and other internal investors. This investment brings the total capital raised by the [...]

KOLKATA BULLION OPENING

Kolkata, Dec.01(PTI): SILVER RDY (BAR) : Rs.62,900.00 Per Kg. SILVER RDY. (PORTION) : Rs.63,000.00 Per Kg. GOLD (24-CARAT) RDY. : Rs.48,750.00 Per 10 Gms. GOLD (22-CARAT) RDY. : Rs.46,250.00 Per 10 Gms. HALLMARKED GOLD (22-CARAT) RDY. : Rs.46,950.00 Per 10 Gms. ---- PTI SAM SAM

NEWSALERT

Goods and Services Tax (GST) mop up in November at over Rs 1.31 lakh crore, up from Rs 1.30 lakh crore in October: FinMin. PTI JD DRR DRR

GDP likely to grow more than 9.5% in FY22: Report

Mumbai, Dec 1 (PTI) The country's gross domestic product (GDP) is likely to grow more than 9.5 per cent in fiscal 2021-22, an SBI research report-Ecowrap said.The economy grew at 8.4 per cent in the second quarter of the current fiscal, according to data released by the National Statistical Office (NSO) on Tuesday. The growth [...]

Global Energy Association opens a new nomination cycle

MOSCOW, Dec. 1, 2021 /PRNewswire/ -- The Global Energy Association starts accepting submissions on 1st December for the awarding of prizes in the fields of Conventional Energy, Non-conventional Energy and New Ways of Energy Application. The nomination cycle will take place in three stages. In the first stage, from 1st December to 20th March, nomination [...]

TECNO Disclosed Three Global Leading Mobile Camera Technologies to Launch in 2022: RGBW/ G+P, Sensor Shift and Telescopic lens

TECNO, a key innovator in the mobile imaging ecosystem, discussed the future of imaging technologies with industry experts and shared recent company breakthroughs. SHENZHEN, China, Dec. 1, 2021 /PRNewswire/ -- TECNO, a premium smartphone brand focusing on global emerging markets, outlined its latest technologies and achievements at a webinar entitled "Global Mobile Camera Trends 2022: [...]

Escorts reports 30 pc dip in Nov tractor sales at 7,116 units

New Delhi, Dec 1 (PTI) Farm machinery and construction equipment major Escorts Ltd on Wednesday reported a 30 per cent decline in total tractor sales at 7,116 units in November 2021. The company had sold 10,165 units in the same month last year, Escorts said in a regulatory filing. Domestic tractor sales were down 32.8 [...]

WNS Launches FINSIBLE to Drive Scalable Banking Operations for FinTechs

Mumbai, Maharashtra, India&London, United Kingdom & New York, United States – Business Wire India WNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Management (BPM) solutions, today announced the launch of WNS FINSIBLE, a suite of banking solutions enabling FinTechs to efficiently streamline, manage and scale operations. FINSIBLE covers the entire end-to-end [...]

Toyota Kirloskar posts 53 pc increase in Nov wholesales at 13,003 units

New Delhi, Dec 1 (PTI) Toyota Kirloskar Motor (TKM) on Wednesday said its domestic wholesales increased by 53 per cent to 13,003 units in November. The company had sold 8,508 units in the domestic market in November 2020. "Demand from the market continues to be strong which is duly reflected in our booking orders and [...]

Power consumption rises 3.6 pc to 100.42 BU in November

New Delhi, Dec 1 (PTI) India's power consumption grew by 3.6 per cent in November to 100.42 billion units (BU), showing consistent recovery for the second month in a row, according to power ministry data. The country's power consumption had grown by 3.9 per cent in October this year to 113.40 BU compared to 109.17 [...]

KISS & KIIT Inks MoU with NGMA

BHUBANESWAR, India, Dec. 1, 2021 /PRNewswire/ -- Kalinga Institute of Social Sciences (KISS) & Kalinga Institute of Industrial Technology (KIIT), Bhubaneswar signed an MoU with the National Gallery of Modern Art (NGMA), Ministry of Culture, Government of India on 29th November 2021. Dr. Achyuta Samanta, Founder, KIIT & KISS, signed the MoU on behalf of [...]

Silexon Partners with Excelra, Deploying GOSTAR to Strengthen its AI-driven Drug Discovery and Biopharmaceutical Research Platform

HYDERABAD, India and NANJING, China, Dec. 1, 2021 /PRNewswire/ -- Excelra, a leading global data & analytics provider, today announced its partnership with Silexon AI Technology, a next-generation biotech company with a scalable AI/ML (Artificial Intelligence and Machine Learning) platform for drug discovery and biopharmaceutical research. Under the agreement, Excelra will provide ADMET and Binding [...]

Tega Industries IPO fully subscribed within 1 hour

New Delhi, Dec 1 (PTI) The initial public offer of Tega Industries Limited, manufacturer of consumables for the mining industry, was fully subscribed within the one hour of opening for subscription on Wednesday.The Rs 619.22-crore IPO received bids for 1,01,82,315 shares against 95,68,636 shares on offer, translating into 1.06 times subscription, according to NSE data.The [...]

PVR NEST and Deakin University team up to launch ‘You for Youth’ initiative

NEW DELHI, Dec. 1, 2021 /PRNewswire/ -- PVR NEST, the Corporate Social Responsibility (CSR) arm of PVR Limited, and Deakin University, one of the most progressive international education providers, have jointly launched the 'You for Youth' – a digital campaign initiative – a campaign aimed at advocating the need for focussing on certain Sustainable Development [...]

India’s mfg sector gain further strength in Nov on strong rise in production, sales: PMI

India’s manufacturing sector activities gained further strength in November, and witnessed the strongest increase in production and sales since February on improving market conditions, a monthly survey said on Wednesday. Purchasing Managers’ Index or PMI is an economic indicator that is derived after monthly surveys of different companies. It helps in determining whether the market [...]

Top Five Upcoming Developers Changing the Skyline of Delhi NCR

New Delhi, Delhi, India (NewsVoir) MRG World (Gurugram), Whiteland Corporation (Gurugram), Maasters Infra (Noida), SKA Group (Noida), and Axon Developers emerged as the ‘Top Five Emerging Developers of NCR’ in the list announced by a Delhi-based research firm. The survey was conducted by International Brand & Research Forum (IBRF) across the region with a special [...]

Bengal secures 135 million World Bank loan to upgrade rural power distribution network

​ Kolkata, Dec 1 (PTI) International Bank for Reconstruction and Development (IBRD) has approved a USD 135 million loan to West Bengal to improve the operational efficiency and reliability of electricity supply in select pockets in the state. The IBRD and its concessional lending arm, the International Development Association (IDA), are collectively also called the [...]

HTC Global Services reveals new brand identity uniting CareTech and Ciber under one brand

TROY, Mich. and CHENNAI, India, Dec. 1, 2021 /PRNewswire/ -- HTC Global Services today announced that its companies, including CareTech Solutions and Ciber Inc., are uniting under one name and one brand - HTC Global Services. As part of this effort, the company has adopted a new identity that embodies its renewed ambitions and aspirations. [...]

FOX India Hiring Top Talent to Build Media Technology Innovation Hub

BANGALORE, India, Dec. 1, 2021 /PRNewswire/ -- Fox Corporation (Nasdaq: FOXA, FOX) ("FOX" or the "Company") continues to increase digital talent across its brands with the announcement of its recently established technology presence in India. The newly formed FOX India entity is the latest investment by the FOX Tech team to attract, hire and prime [...]

Bajaj Auto reports 10 pc dip in Nov sales

New Delhi, Dec 1 (PTI) Bajaj Auto on Wednesday reported a 10 per cent decline in its total wholesales at 3,79,276 units in November 2021.The company had dispatched 4,22,240 units in the same month a year ago.Domestic sales last month fell 20 per cent to 1,58,755 units against 1,98,933 units in November last year, Bajaj [...]

Paytm expects revenue, monetisation methods to expand in next few quarters: CEO

New Delhi, Dec 1 (PTI) Digital payments and financial services firm Paytm is expecting to increase revenue and monetisation methods on its platform in the next few quarters, according to a top company official.Paytm Chairman and CEO Vijay Shekhar Sharma during an earnings call with analysts in the US said the company is seeing scale [...]

Sai Life Sciences’ pharmaceutical API manufacturing site receives Certificate of Inspection from PMDA, Japan

HYDERABAD, India, Dec. 1, 2021 /PRNewswire/ -- Sai Life Sciences, a leading global Contract Research, Development & Manufacturing Organization (CRO/ CDMO), today announced that the Japanese regulatory agency, Pharmaceuticals and Medical Devices Agency (PMDA) completed a paper-based compliance inspection of its intermediate & API manufacturing facility in Bidar, India and issued a Certificate of Inspection. [...]

India’s First Game-Based Investment Start-up Fello Raises 1 Million USD in Seed Round Led by Entrepreneur First, a Global Talent Investor

Bengaluru, Karnataka, India – Business Wire India Fello, India’s first game-based investment start-up, has raised $1 million in a seed round led by global talent investor, Entrepreneur First (EF). Other investors in the seed round included Acequia Capital, Kube VC, Upsparks, JITO Angels, Dexter Angels, and independent investors Ashneer Groover, Co-founder, BharatPe, Bala Parthasarathy, CEO [...]

Digital Transformation Leader, Deepak Keni, joins Vymo as Chief Customer Officer to drive Sales & Distribution Excellence in Asia

Mr. Keni has held multiple senior leadership positions such as EVP, Head of IT and Digital Transformation & held board representations supporting organisations in driving growth, transformation and change in various sectors, including BFSI, Telecom, ITES, and Public Sector. SAN FRANCISCO, Dec. 1, 2021 /PRNewswire/ -- Global management consulting veteran, Deepak Keni, joins Vymo, the [...]

Harrison.ai raises AUD$129 million and partners with Sonic Healthcare to develop pathology AI, accelerating its mission to expand capacity of global healthcare

$129 million funding raised from global venture firms and strategic investors including Horizons Ventures, I-MED Radiology and Sonic Healthcare in one of Australia's largest Series B funding rounds ever New pathology Joint Venture combines Harrison.ai's expertise in clinical artificial intelligence with Sonic Healthcare's clinical expertise and network SYDNEY, Dec. 1, 2021 /PRNewswire/ -- Harrison.ai, the [...]

Pininfarina at the Hong Kong MotorXpo with the Model E designed for Foxconn

TORINO, Italy, Nov. 30, 2021 /PRNewswire/ -- Pininfarina is back at the International MotorXpo Hong Kong. Making its official debut at an Auto Show will be the electric Model E sedandesigned for Hon Hai Technology Group (Foxconn), on display from 1 to 5 December in the Designer Zone at the AsiaWorld-Expo. The Model E, first [...]

MG Motor India sales decline 40 pc to 2,482 units in Nov

New Delhi, Dec 1 (PTI) MG Motor India on Wednesday reported a 40 per cent decline in retail sales to 2,481 units in November 2021, as the production was adversely impacted by the ongoing semiconductor shortage.The company had clocked retail sales of 4,163 units in the same month last year."Enduring the industry challenges of global [...]

Rupee surges 29 paise to 74.84 against US dollar in early trade

Mumbai, Dec 1 (PTI) The rupee recovered 29 paise to 74.84 against the US dollar in opening trade on Wednesday, as positive domestic equities and a weak American currency in the overseas markets boosted investor sentiments.At the interbank foreign exchange, the rupee opened at 74.96, and surged higher to 74.84 against the American dollar, registering [...]

NEWSALERT

Rupee surges 23 paise to 74.90 against US dollar in early trade. PTI DRR BAL BAL

RateGain Travel Technologies IPO to open on Dec 7; sets price band at Rs 405-425/share

New Delhi, Dec 1 (PTI) RateGain Travel Technologies on Wednesday said it has fixed a price band of Rs 405-425 a share for its Rs 1,335 crore-IPO, which will open for public subscription on December 7. The three-day initial public offering (IPO) of the travel and hospitality technology services provider will conclude on December 9. [...]

Sensex surges over 500 pts in early trade; Nifty above 17,150

Mumbai, Dec 1 (PTI) Equity benchmark Sensex jumped over 500 points in early trade on Wednesday, tracking gains in index majors HDFC twins, Tata Steel and Reliance Industries amid positive cues from Asian markets. The 30-share index was trading 515.05 points or 0.90 per cent higher at 57,579.92 in initial deals. Similarly, the Nifty rose [...]

NEWSALERT

Sensex jumps 612.66 pts to 57,677.53 in opening session; Nifty surges 207.80 pts to 17,191.00. PTI BAL DRR DRR

S African Prez lauds breakthrough deal to manufacture and supply Covid vaccines to Africa

Johannesburg, Nov 30 (PTI) South African president Cyril Ramaphosa has welcomed a breakthrough deal between the country's Aspen Pharmacare and pharmaceutical multinational Johnson & Johnson for Covid-19 vaccines being manufactured in South Africa for distribution to the African continent as part of efforts to end vaccine inequality.“The effectiveness of our response as the African continent [...]

Programme launched to upskill street food vendors: EDMC

New Delhi, Nov 30 (PTI) A project to upskill street food vendors of east Delhi so as to make them eligible for e-cart licence was launched on Tuesday, the civic body said. The project is an initiative of the Ministry of Skill Development and Entrepreneurship in association with the East Delhi Municipal Corporation. It was [...]

Stricter norms for int’l passengers to be effective from Tuesday midnight

New Delhi, Nov 30 (PTI) Strict norms for arriving international passengers, especially from 'at-risk' countries, will come into effect from Tuesday midnight and authorities are stepping their vigil for effective surveillance amid mounting concerns over the emergence of the coronavirus variant Omicron. While no cases of Omicron have been reported so far in India, the [...]

Proposed investment expected to cross Rs 51,000 cr in J&K by fiscal-end: Lt Governor

Jammu, Nov 30 (PTI) Jammu and Kashmir Lieutenant Governor Manoj Sinha on Tuesday said proposed investment in the union territory is expected to cross Rs 51,000 crore by the end of this fiscal and the government is coming up with rules governing change of land use to facilitate the setting up of business enterprises on [...]

Sardar Sukhbir a bizman, out to snatch others’ businesses: Sidhu

Ludhiana, Nov 30 (PTI) SAD chief Sukhbir Singh Badal is a businessman, out to snatch businesses of others, Punjab Congress chief Navjot Singh Sidhu alleged on Tuesday. Sidhu hurled the allegation while addressing reporters here before attending a meeting of local Congress councillors, during which he also termed as “hollow” Badal’s various promises made to [...]

Q2 GDP numbers encouraging, looking forward to double-digit growth in 2021-22: PHDCCI

New Delhi, Nov 30 (PTI) With India's GDP expanding by a better-than-expected 8.4 per cent in the July-September quarter, industry chamber PHDCCI on Tuesday said the country's economic growth is likely to be in double-digits in 2021-22. On the back of meaningful and proactive reforms undertaken by the government, calibrated measures by the RBI, rapid [...]

Business briefs

*RPS Consulting appoints Francis Jacob as President and Business Head New Delhi, Nov 30 (PTI) NIIT subsidiary RPS Consulting on Tuesday said it has appointed Francis Jacob as its President and Business Head.RPS Consulting provides training programmes on emerging digital technologies for experienced technology professionals, specifically addressing the needs of global systems integrators and capability [...]

PB Fintech arm invests Rs 10.8cr more in Visit Health, holds minority stake

New Delhi, Nov 30 (PTI) Docprime, a fully-owned subsidiary of PB Fintech, has made a further investment of over Rs 10.8 crore in healthcare and wellness services provider Visit Health (VHPL) for a minority stake. The board of directors of PB Fintech approved the proposal at a meeting held on Tuesday (November 30, 2021), the [...]

Govt approves continuation of Scheme for Investment Promotion for 5 years

New Delhi, Nov 30 (PTI) The government has approved the continuation of the Scheme for Investment Promotion (SIP) for five years (2021-26) with a financial outlay of Rs 970 crore, according to a notification of the commerce and industry ministry. The scheme comprises a number of components and activities for the promotion of investment into [...]

NTPC Nabinagar plant’s unit-4 to begin commercial operations from Wed midnight

New Delhi, Nov 30 (PTI) State-owned power giant NTPC said 250-MW unit-4 of its Nabinagar power plant will begin commercial from the midnight of Wednesday. "Unit-4 of 250 MW capacity of Nabinagar Thermal Power Project (4X250 MW) of Bhartiya Rail Bijlee Company Limited (a subsidiary company of NTPC Ltd) is declared on commercial operation w.e.f. [...]

Bank officers’ union launches nationwide movement against privatisation

New Delhi, Nov 30 (PTI) Bank officers' union on Tuesday launched nationwide movement against proposed privatisation of stat-owned lenders. 'Bank Bachao Desh Bachao Rally' was held at New Delhi's Jantar Mantar on Tuesday attended by officers and other stakeholders from various parts of the country, the All India Bank Officers' Confederation (AIBOC) said in a [...]

IJMA seeks nod to import 5 lakh bales of raw jute from Bangladesh

Kolkata, Nov 30 (PTI) The Indian Jute Mills Association has sought permission from the authorities to import five lakh bales of raw jute from Bangladesh to tide over the shortage of the fibre, IJMA Chairman Raghavendra Gupta said on Tuesday.The industry lobby body said the import is intended for non-food packaging. The price of Bangladeshi [...]

Tega Industries mobilises Rs 186 crore from anchor investors ahead of IPO

New Delhi, Nov 30 (PTI) Tega Industries, manufacturer of consumables for the mining industry, on Tuesday said it has garnered Rs 186 crore from anchor investors ahead of its initial share-sale that opens for public subscription on Wednesday.     The company has decided to allocate 41 lakh equity shares to anchor investors at Rs 453 [...]

TRAI releases consultation paper to discuss pricing, modalities for auction of 5G spectrum

New Delhi, Nov 30 (PTI) Telecom regulator TRAI on Tuesday released a detailed consultation paper to discuss threadbare the modalities for auction of spectrum across multiple bands, including pricing, quantum and other conditions -- preparing the groundwork for 5G auctions slated for next year. TRAI's comprehensive consultation paper runs into 207 pages and throws up [...]

COMMODITY PRICES

Mumbai, Nov 30 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST. COPPER :- COPPER CABEL SCRAP 720.00 COPPER HEAVY SCRAPS 712.00 COPPER ARMATURE (CREDIT) 695.00 COPPER UTENSILS SCRAP 631.00 CC ROD 773.00 BRASS :- BRASS SHEET CUTTING 545.00 BRASS UTENSIL SCRAP 488.00 BRASS HONEY 483.00 ALUMINIUM :- ALUMINIUM UTENSIL SCARPS 176.00 ALUMINIUM EXTRUSION SCRAP 200.00 ALUMINIUM [...]

OILSEEDS PRICES

Mumbai, Nov 30 (PTI) OILS (per 10 Kgs) G.Nut Raw 1310.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1200.00 Sunflower Exp.Ref. 1285.00 Cottonseed(Refined) 1240.00 Refined Palm Oil 1182.00 Soyabean Ref. 1215.00 Imp.Soyabean Crude - Rapeseed Ref. 1710.00 Rapeseed Exp. 1680.00 Copra white 1670.00 Rice Bran 4-7% FFA - Rice Bran 1200.00 Linseed 2050.00 Castor [...]

Infrastructure industries expand at 7.5 pc in Oct

New Delhi, Nov 30 (PTI) The production of eight infrastructure sectors rose by 7.5 per cent in October on healthy performance by the segments of coal, natural gas, refinery products and cement, official data released on Tuesday showed. The output of eight core sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement [...]

Skill India launches programme to upskill street food vendors

New Delhi, Nov 30 (PTI) Targeting to train 2,500 street food vendors in the pilot phase, the skill development and entrepreneurship ministry on Tuesday said it has launched a programme to upskill these vendors and make them eligible for e-cart licence. As part of the pilot phase, the ministry will start skilling the street vendors [...]

KVIC to begin Pashmina production soon in Varanasi: MSME ministry

New Delhi, Nov 30 (PTI) The Khadi and Village Industries Commission (KVIC) has roped in four Khadi institutions from Varanasi and Ghazipur districts of Uttar Pradesh for processing raw Pashmina wool and weaving it further into woollen fabric, an official statement said on Tuesday. "The globally acclaimed Pashmina wool products, which are indigenous to the [...]

Double-digit growth likely this year; fiscal deficit target to be met, says CEA

New Delhi, Nov 30 (PTI) Chief Economic Adviser (CEA) K V Subramanian on Tuesday exuded confidence that India would achieve double-digit growth in the current financial year on the back of policy initiatives and continuing reforms. He also said the country is well poised to meet the fiscal deficit target of 6.8 per cent of [...]

Indian Bank reports fraud of over Rs 33cr to RBI

New Delhi, Nov 30 (PTI) State-owned Indian Bank has reported a fraud of more than Rs 33 crore to the Reserve Bank, involving two of its accounts that turned into NPAs. Two non-performing loan accounts, Raj Events and Entertainment and Capricorn Food Products India, have been declared as fraud and reported to the RBI as [...]

Seven firms, including JSW Steel, submit bids for coal blocks

New Delhi, Nov 30 (PTI) JSW Steel and Adhunik Power & Natural Resources are among seven companies that have submitted bids for four coal blocks put up for sale under "second attempt" of auction process for 11 mines for commercial mining. These coal mines were also offered in the first attempt launched on March 25 [...]

Unemployment rate at 9.3 pc in Jan-Mar 2021: NSO survey

New Delhi, Nov 30 (PTI) Unemployment rate for persons of age 15 years and above in urban areas rose to 9.3 per cent in January-March 2021 from 9.1 per cent in the same month of the previous year, showed a periodic labour force survey by the National Statistical Office (NSO). Joblessness or unemployment rate (UR) [...]

Ola to invest up to Rs 786cr in Ola Financial Services

New Delhi, Nov 30 (PTI) Ola is making an investment of up to Rs 786.1 crore in Ola Financial Services (OFS), which will now become a 100 per cent subsidiary of the ride-hailing platform, as per regulatory documents. As per documents submitted by ANI Technologies (which operates Ola) to the Registrar of Companies (RoC), Ola [...]

Majestic Auto shareholders reject re-appointment of Aashim Munjal as director, JMD

New Delhi, Nov 30 (PTI) Shareholders of Majestic Auto Ltd have rejected re-appointment of Aashima Munjal, daughter of the company's Chairman and Managing Director Mahesh Munjal, as a Wholetime Director and Joint Managing Director for a period of five years, according to a regulatory filing by the firm. The company, which is now into real [...]

Star Health IPO subscribed 12 pc on first day of offer

New Delhi, Nov 30 (PTI) The initial public offer of Star Health and Allied Insurance Company Limited was subscribed 12 per cent on the first day of subscription on Tuesday.The three-day IPO received bids for 53,19,008 shares against 4,49,08,947 shares on offer, according to NSE data.The category for Retail Individual Investors (RIIs) received 64 per [...]

Simplilearn completes maiden ESOP buyback worth Rs 48.7 cr

New Delhi, Nov 30 (PTI) Digital skills training platform Simplilearn on Tuesday said it has completed its maiden Employee Stock Option Plan (ESOP) buyback worth Rs 48.74 crore. The company had offered active employees to liquidate up to 25 per cent of their vested ESOPs as part of this buyback, a statement said. With this, [...]

GDP grows at 8.4 pc in Q2; India maintains status as fastest growing economy

New Delhi, Nov 30 (PTI) The Indian economy remained on track to post the fastest growth among major economies this year as its GDP expanded by a better-than-expected 8.4 per cent in the July-September quarter to cross pre-pandemic levels. The GDP growth in the second quarter of the current fiscal (2021-22) was slower than the [...]

Stricter norms for int’l passengers to be effective from Tuesday midnight

New Delhi, Nov 30 (PTI) The strict norms for arriving international passengers, especially from 'at-risk' countries, will come into effect from Tuesday midnight and authorities are stepping their vigil for effective surveillance amid mounting concerns over the emergence of the COVID variant Omicron. While no cases of Omicron have been reported so far in India, [...]

GDP grows at 8.4 pc in Q2; India maintains status as fastest growing economy

New Delhi, Nov 30 (PTI) The Indian economy remained on track to post the fastest growth among major economies this year as its GDP expanded by a better-than-expected 8.4 per cent in the July-September quarter to cross pre-pandemic levels. The GDP growth in the second quarter of the current fiscal (2021-22) was slower than the [...]

Rajya Sabha MP for booster shots of Covid vaccine to frontline workers

New Delhi, Nov 30 (PTI) Nominated Rajya Sabha MP Narendra Jadhav on Tuesday urged the government to administer booster shots of Covid vaccine to frontline worker and senior citizens amid concerns over new variant of coronavirus Omicron. Raising the issue during the Zero Hour in the House, he said the World Health Organization (WHO) has [...]

Business highlights

New Delhi, Nov 30 (PTI) Following are the top business stories at 2000 hours: DEL60 BIZ-LD GDP Indian economy grows 8.4 pc in July-September, surpasses pre-COVID level New Delhi: India's GDP growth slowed to 8.4 per cent in the second quarter of 2021-22, mainly due to waning low base effect, but the economy has surpassed [...]

Walmart announces MoU with MP government to train and support MSMEs

New Delhi, Nov 30 (PTI) Walmart and its subsidiary Flipkart on Tuesday announced they will sign a Memorandum of Understanding (MoU) with the Madhya Pradesh government to create an ecosystem of capacity building for MSMEs in the state.Under the partnership with Department of Micro, Small and Medium Enterprises (MSME) of the MP government, Walmart and [...]

Ugro Capital raises Rs 150 crore

New Delhi, Nov 30 (PTI) Ugro Capital on Tuesday said it has raised Rs 150 crore by issuing bonds on a private placement basis.The company's Investment and Borrowing Committee has approved the allotment of 150 protected market linked non-convertible debentures aggregating to Rs 150 crore on a private placement basis, according to a regulatory filing.The [...]

Panasonic India expands ESL and Digital SignEdge business

New Delhi, Nov 30 (PTI) Diversified technology company Panasonic India on Tuesday announced the expansion of its electronic shelf labelling (ESL) and Digital SignEdge 2.0 solutions business. These tech-enabled display solutions have been designed to increase operational efficiencies for retailers and enterprises, the company said in a statement. The advanced, upgraded ESL solution will offer [...]

NCLT orders insolvency proceedings against MGF Developments

New Delhi, Nov 30 (PTI) The National Company Law Tribunal (NCLT) on Tuesday directed to initiate insolvency proceedings against MGF Developments and appointed an interim resolution professional after suspending the board of the realty firm. A two-member Delhi based bench of NCLT passed the order by allowing a plea filed by the residents association of [...]

NMDC slashes lump ore prices by Rs 750 per tonne, fines by Rs 200 per tonne

New Delhi, Nov 30 (PTI) State-owned mining company NMDC on Tuesday slashed prices of lump ore by Rs 750 a tonne and fines Rs 200 per tonne, with immediate effect. In a regulatory filing, the company said it has revised the rates of lump ore or higher grade ore to Rs 5,200 a tonne. While [...]

India to log double-digit growth this fiscal: CEA

New Delhi, Nov 30 (PTI) Chief Economic Adviser (CEA) K V Subramanian on Tuesday said India is expected to log double-digit growth in the current financial year, aided by rising demand and a robust banking sector. He also said the seminal second generation reforms would help the country grow over 7 per cent during this [...]

Edelweiss Financial Services plans to raise up to Rs 500 cr via NCDs

Mumbai, Nov 30 (PTI) Edelweiss Financial Services Limited (EFSL) on Tuesday said it is looking to raise up to Rs 500 crore through issuance of secured redeemable non-convertible debentures (NCDs).The base size of the issue is Rs 200 crore with an option to retain over-subscription up to Rs 300 crore, the company said in a [...]

Alerted staff about new virus strain to take precaution: India Post Delhi circle

New Delhi, Nov 30 (PTI) India Post Delhi circle has alerted its staff to take precaution, follow COVID-19 protocols strictly as a new strain of coronavirus has been reported in some countries, a senior official said on Tuesday. The Department of Posts (DoP) Delhi Circle Director Ram Vilas Chaudhary said that though there is no [...]

ICICI Venture divests partial stake in Go Fashion

New Delhi, Nov 30 (PTI) ICICI Venture, the alternative asset arm of ICICI Bank, on Tuesday said it has divested half of its 13.5 per cent stake in the recently concluded IPO of Go Fashion (India) Ltd, which owns women's wear brand Go Colors.       ICICI Venture, through its fourth private equity fund India Advantage [...]

Nearly 10 cr unorganised sector workers registered on e-Shram portal

New Delhi, Nov 30 (PTI) Around 10 crore unorganised sector workers have been registered so far on e-Shram portal, an initiative to create national database of informal workforce, according to the labour ministry. The e-Shram portal was launched in August this year for creating national database for unorganised workers to provide them benefits of various [...]

Zomato launches platform to help restaurants raise funds

New Delhi, Nov 30 (PTI) Online food delivery platform Zomato has announced the launch of Zomato Wings, a platform to connect investors with restaurants, to help them raise funds. There are thousands of budding restaurants that may not have the expertise or focus to fundraise at the right time from the right investors. This is [...]

India lodges strong protest with Pak, SL over attacks on Indian fishing boats

New Delhi, Nov 30 (PTI) India has lodged strong protests with Pakistan and Sri Lanka over incidences of Indian fishing boats being attacked by their maritime agencies, Minister of Fisheries, Animal Husbandry and Dairying Parshottam Rupala said on Tuesday. "Incidences of Indian fishing boats being attacked by maritime agencies of Sri Lanka and Pakistan have [...]

NEWSALERT

Fiscal deficit target of 6.8 pc of GDP for current financial year likely to be met: CEA. PTI DP DP ABM ABM

Large infrastructure gaps exist in horticulture: Report

Mumbai, Nov 30 (PTI) Despite horticulture accounting for a third of the total agricultural gross value added, there exists large infrastructure gaps ranging from 8.6 per cent for cold storages to 99.6 per cent in the case of pack houses compared to the production of perishable produces like fruits and vegetables, according to a report. [...]

SAT quashes NSE’s directive to Axis Bank in Karvy case

New Delhi, Nov 30 (PTI) In a relief to Axis Bank, the Securities Appellate Tribunal (SAT) has quashed a direction issued by NSE that funds lying in the bank account of Karvy Stock Broking are the assets of the exchange's defaulter committee.       The order came after Axis Bank challenged the communication issued [...]

NEWSALERT

India expected to grow at 6.5-7 pc during 2022-23 and over 7 pc thereafter: CEA. PTI DP DP ABM ABM

Dassault Systemes to set up 3DEXPERIENCE Innovation Centre ; signs MoU with TN Govt

Chennai, Nov 30 (PTI) Dassault Systemes has signed a memorandum of understanding with the Tamil Nadu government to set up The Tamil Nadu Centre of Advance Manufacturing (TANCAM) at TIDEL Park in the city, the company said on Tuesday. TANCAM, a first of its kind Centre of Excellence in India, would provide a dedicated IT [...]

Supply chain constraints to dent Maruti Suzuki production levels in Dec

New Delhi, Nov 30 (PTI) The country's largest carmaker Maruti Suzuki India on Tuesday said its production in December could only be up to 85 per cent of the normal, owing to supply constraint of electronic components due to the ongoing semiconductor shortage situation.Due to supply constraints, the company is expecting an adverse impact on [...]

RBI appoints Advisory Committee to assist administrator of Reliance Capital

Mumbai, Nov 30 (PTI) A day after superseding the board of Anil Ambani promoted Reliance Capital, the Reserve Bank on Tuesday appointed a three-member Advisory Committee to assist the newly appointed administrator of the crisis-ridden NBFC. The RBI had appointed Nageswara Rao Y, former executive director, Bank of Maharashtra, as the administrator. Now, the RBI [...]

Govt proposes to amend Multi-Cooperative Societies Act for effective regulatory mechanism

New Delhi, Nov 30 (PTI) The government plans to amend the Multi-State Co-operative Societies Act, 2002, in order to have an effective regulatory mechanism as well as to protect interest of depositors and shareholders of the societies. In a written reply to the Lok Sabha, Minister of Cooperation Amit Shah said, "It is proposed to [...]

S&P keeps India GDP growth forecast unchanged at 9.5% in FY22

New Delhi, Nov 30 (PTI) S&P Global Ratings on Tuesday kept India's economic growth forecast in the fiscal year to March 2022 unchanged at 9.5 per cent but raised its predictions for the subsequent year on broadening out of the recovery. The Indian economy had shrunk by 7.3 per cent in 2020-21 fiscal (April 2020 [...]

Shakti Pumps makes foray into manufacturing of motors, chargers for electric vehicles

Mumbai, Nov 30 (PTI) Shakti Pumps India on Tuesday said it is making a foray into the manufacturing of motors, chargers, controllers and drives for electric vehicles, through a wholly-owned subsidiary. The company's board recently approved the incorporation of a wholly-owned subsidiary to make a foray into the EV segment with the manufacturing of motors, [...]

FMCG consumption slips in July-Sep but industry logs price-led growth of 13 pc: Report

New Delhi, Nov 30 (PTI) India's FMCG industry saw a decline in volume in September quarter this year, though it registered a value-led growth of 12.6 per cent, according to a report by data analytics firm Nielsen.While the metro market saw an upswing, rural markets slowed down due to consumption decline, it added. Earlier, rural [...]

BYD India strengthens dealership network

Chennai, Nov 30 (PTI) BYD India, the subsidiary of the Warren Buffett-backed new energy vehicle maker BYD (Build Your Dreams), on Tuesday announced expansion of dealer network under its move to strengthen presence in the country. BYD India said it has commenced dealerships across eight key locations in the country which would further be extended [...]

Indian economy grows 8.4 pc in July-September, surpasses pre-COVID level

New Delhi, Nov 30 (PTI) India's GDP growth slowed to 8.4 per cent in the second quarter of 2021-22, mainly due to waning low base effect, but the economy has surpassed the pre-COVID level, official data showed on Tuesday. The GDP growth in April-June quarter this fiscal stood at 20.1 per cent. The Indian economy [...]

Non-food bank credit grows at 6.9 pc in Oct: RBI data

Mumbai, Nov 30 (PTI) Non-food credit growth of banks accelerated to 6.9 per cent in October as against 5.2 per cent in the same month of last year, the RBI data showed. Loans to agriculture and allied activities continued to perform well, registering an accelerated growth of 10.2 per cent in October 2021 as compared [...]

Cargill acquires edible oil refinery in Andhra Pradesh

New Delhi, Nov 30 (PTI) US-based food major Cargill on Tuesday said it has acquired an edible oil refinery in Nellore, Andhra Pradesh, for USD 35 million and it is likely to be fully operational by May 2022. "Cargill's USD 35-million investment to acquire and upgrade the facility will significantly expand its edible oil production [...]

Centre’s fiscal deficit at Rs 5.47 lakh cr at end-Oct, 36pc of FY22 estimate: CGA

New Delhi, Oct 29 (PTI) The Union government's fiscal deficit works out to be Rs 5.47 lakh crore or 36.3 per cent of the budget estimates at the end of October 2021 on the back of improvement in revenue collection, according to the data released by the Controller General of Accounts (CGA) on Tuesday. The [...]

Govt debt at 62 pc of GDP; capable of repaying liabilities: MoS Finance Chaudhary

New Delhi, Nov 30 (PTI) Central government debt is estimated at about 62 per cent of GDP for this fiscal and it is capable of repaying its liabilities, Minister of State for Finance Pankaj Chaudhary informed Parliament on Tuesday. "Increasing the buoyancy of tax revenue through improved compliance, mobilisation of resources through monetisation of assets, [...]

Rupee falls for 4th day, settles 6 paise lower at 75.13/dollar

Mumbai, Nov 30 (PTI) The rupee continued its losing run for the fourth day on Tuesday, dropping by 6 paise to 75.13 against the US dollar as investor concerns grew over fresh impact of new COVID variant on the economy. At the interbank foreign exchange market, the local currency opened on a strong note at [...]

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