The capital markets regulator Sebi has given the TPG Capital-backed wires and cable producer RR Kabel Ltd the green light to seek money through an Initial Public Offering (IPO). According to the Draft Red Herring Prospectus (DRHP), the IPO consists of a new issue of equity shares with a maximum value of Rs 225 crore [...]

Pharmaceutical giant Lupin Ltd. announced on Tuesday that the US health agency had given the go-ahead for the marketing of its generic Pirfenidone capsules, which are used to treat the lung condition known as idiopathic pulmonary fibrosis. The approval granted by the US Food and Drug Administration (USFDA) is for the abbreviated new drug application [...]

To achieve zero carbon emissions by 2038, the state-owned Oil and Natural Gas Corporation (ONGC) will invest roughly Rs 2 lakh crore, its chairman Arun Kumar Singh said on Tuesday. The firm will invest Rs 1 lakh crore by 2030 in setting up 10 gigawatts of renewable energy capacity, green ammonia plant, and offshore wind [...]

The generic drug Mycophenolate Mofetil for oral suspension, which is used in organ transplant patients to prevent rejection, has been approved by the US health agency, Strides Pharma Science Ltd. on Wednesday said. The approval granted by the US Food & Drug Administration (USFDA) is for Mycophenolate Mofetil for oral suspension of strength 200 mg/ml, [...]

The government's decision to lower the cost of cooking gas cylinders is a gift to the lower and middle classes, Commerce and Industry Minister Piyush Goyal said on Tuesday. To lessen the impact of growing inflation on people, the government on Tuesday announced a reduction in the cost of home cooking gas of Rs 200 [...]

Tata Power-DDL is a power distribution company (discom) that supplies electricity in North Delhi and serves a populace of 7 million. Tata Power Delhi Distribution Ltd (Tata Power-DDL) has received a three-year extension till 2026 from the Department of Scientific and Industrial Research (DSIR) for its in-house R&D unit. Tata Power Delhi Distribution Ltd is [...]

India and New Zealand have signed a Memorandum of Understanding (MoU) to boost cooperation in civil aviation, which includes scheduling of new routes, codeshare services, traffic rights and capacity entitlement, an official statement said on Tuesday. According to the MoU, the designated airline(s) of New Zealand may operate any number of services with any type [...]

Capital markets regulator SEBI on Tuesday came out with guidelines to strengthen the existing cyber security and cyber resilience framework for stock exchanges and other market infrastructure institutions (MIIs). The new guidelines will come into force with immediate effect and in a statement, SEBI stated that cyber risk of MIIs isn't limited to MIIs owned [...]

Benchmark equity indices Sensex and Nifty closed on a flat note on Wednesday amid weak global cues. Shedding most of the gains made during the day, the 30-share BSE Sensex ended 0.02 per cent or 11.43 points higher at 65,087.25 points. Similar trends were witnessed on the NSE too where the broader 50-share Nifty inched [...]

PSU Punjab National Bank (PNB) on Wednesday said it has launched a mobile application based on the GST Sahay scheme, an end–to-end digital product under which lending can be done using GST invoices.  The PNB GST Sahay App makes the entire loan process digitised and helps eliminate any manual intervention for borrowers and makes the [...]

The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for [...]

BharatPe's Chief Business Officer Dhruv Dhanraj Bahl is leaving the company after about four years of service. Bahl joined the company in 2020 as head of operations and was elevated to Chief Operating Officer, before assuming his present role of CBO for Merchant Lending.  Bahl is a venture partner with Bharat Founders Fund, and has [...]

Lately, X (formerly known as Twitter), has been loaded with the posts of many angry traders and investors who came to know that their beloved influencers, who have been teaching them for years about the topic of how to become full-time ‘Profitable’ traders through their contents and courses, are themselves in losses.  This anger is [...]

The capital market regulator Sebi fined nine organizations a total of Rs 45 lakh on Tuesday for engaging in non-genuine trades in the BSE's illiquid stock options market. In nine separate orders, the regulator imposed a fine of Rs 5 lakh each on Vivek Company, Soundlight Projects, S R Realbuild, Srijan Dealers, Manomay Dealmark, Zodiac [...]

Ramkrishna Forgings announced on Tuesday that it has received a contract for the delivery of equipment to a client in the South American market for Euro 8.25 million, or roughly Rs 73.65 crore. The company will be supplying front and rear axle components for the next five years, it said in a statement. "This contract [...]

A day after Gokaldas Exports announced that it had reached an agreement through its wholly-owned companies to buy UAE-based Atraco Group, the company's shares soared 9% in early trade on Wednesday and reached their 52-week high. The shares of the company rallied 8.83 per cent to Rs 800.25 apiece on the NSE. The stock witnessed [...]

Inox India Ltd, a manufacturer of cryogenic tanks, has submitted preliminary papers to capital market regulator Sebi in order to raise money through an IPO. According to the Draft Red Herring Prospectus (DRHP) submitted on Tuesday, the Initial Public Offering (IPO) is solely an Offer For Sale (OFS) of up to 2.21 crore shares by [...]