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Stocks to benefit after Govt plans to secure lithium and cobalt mines in 2025
The government plans to launch its Critical Mineral Mission in 2025 to secure vital minerals like lithium and cobalt, essential for green energy and electric vehicle production. The mission will unite government ministries, industries, R&D institutions, and global think tanks to ensure a sustainable supply. India plans to acquire critical mineral assets, particularly in Australia [...]
Top Mutual Funds to watch out for high returns, low fees and minimal exit loads
Mutual funds are investment vehicles that pool money from many investors to invest in a diversified portfolio of stocks, bonds, or other securities. Rather than investing directly in individual stocks or bonds, investors buy shares in the mutual fund, which gives them a small portion of the entire portfolio. Listed below are some of the [...]
Fundamentally strong stock with an order book that is 233% more than its market cap to keep on your radar
According to heavyindustries.gov, the electrical equipment sector in India is poised for significant growth, projected to reach USD 52.98 billion by 2027, with a CAGR of 11.68% from 2023 to 2027. This sector, crucial for infrastructure and energy distribution, contributes approximately 1.5% to India's GDP and employs over 2.2 million individuals. With a market capitalization [...]
AI stock in focus after company received $2 million order for Digital Lending Platform
This AI stock which operates in the business of development of software products including designing and delivering end-to-end solutions is in focus after the company received an order worth USD 2 million for a Digital Lending Platform. Price Action With a market capitalization of Rs. 22,685 Crores, the shares of Newgen Software Technologies Limited were [...]
Solar stock in focus after company received ₹18 Cr order from M.P.Urja Vikas Nagar
This solar microcap stock which operates in the business of manufacturing solar power, Batteries, EV Products, UPS, and Inverters in focus after the company received an order from M.P. Urja Vikas Nagar worth Rs. 18 crore. Price Action With a market capitalization of Rs. 137.50 Crores, the shares of Sungarner Energies Limited were up by [...]
Real estate stock jumps 9% after achieving pre sales booking value of ₹845 Cr before project launch
The shares of this real estate development gained up to 9 percent after the company achieved a pre-sales booking value of Rs 845 Crores within a week of the launch of the project. With a market capitalization of Rs 9,335.97 crore, the shares of Max Estates Ltd were trading at Rs 580.05 per share, increasing [...]
Pharma stock jumps 8% after Sunil Singhania’s Abakkus AMC acquires ₹61 Cr worth of stake
In Friday’s trading session, the shares of one of the pharma stocks specialising in development, manufacturing, and commercialization of a wide range of Active Pharmaceutical Ingredients (APIs) and intermediates jumped by 8 percent after Ace investor Sunil Singhania buys stake in it worth ~Rs. 62 crores Price action With a market capitalization of 5,725.3 Crores [...]
Defence stocks hits 5% upper circuit after receiving ₹450 Cr order from Adani ports
In Friday’s trading session, the shares of one of the defence stocks specialising in constructing a wide range of vessels, including tankers, bulk carriers, offshore platforms, and naval ships hit 5 percent upper circuit upon receiving work orders worth Rs. 450 crores for eight 70-tonne bollard pull tugs. Price action With a market capitalization of [...]
Mini Ratna stock jumps after receiving ₹89 Cr order from Northeast Frontier Railway
Mini Ratna stock specializing in the design, construction, and maintenance of large-scale infrastructure projects jumps up to 2 percent upon receiving two work orders worth ~Rs. 89 Crores from Northeast Frontier Railway. Price action With a market capitalization of 19,506 Crores on Friday, the shares of Ircon International Limited rose by 1.50 percent making a [...]
Drone stock jumps after company receives orders from Bharat Electronics to supply drones
The shares of leading drone service providers gained up to 2 percent after the company foray into Defence space and bagged prestigious orders from Bharat Electronics Limited. With a market capitalization of Rs 440 crore, the shares of Drone Destination Ltd were trading at Rs 181 per share, increasing around 1 percent as compared to [...]
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With shared culture of innovation and entrepreneurial spirit, UK-India are natural partners: UK PM Johnson at Global Tech Summit. PTI CPS AKJ CPS
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Vedanta Group withdraws cases in Delhi High Court, international arbitration to settle Rs 20,495 cr retro tax dispute: Co statement. PTI ANZ ABM ABM
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Smaller banks merged with larger public sector banks to strengthen their capacity, capability, transparency: Modi on banking sector reforms. PTI DP ANZ DRR DRR
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Top Editor’s Pick
Why Mutual Funds Remain a Popular Choice in 2025
You’re not alone if you’ve been thinking more seriously about where your money goes. With daily expenses rising and long-term goals in sight, it’s only natural to look for ways to grow your savings without constant monitoring. That’s where mutual funds come into the picture. They’ve quietly remained a favourite for many over the years. [...]
Stocks to Buy: 6 Stocks to buy for an upside of 40%
The Indian Benchmark Indices closed in Green on Friday with the Sensex gaining around 218.14 points ending the week at 81,224.75 and the Nifty 50 index gaining around 113.55 points ending the week at 24,863.40. In the last five trading sessions, the Sensex declined by approximately 0.75 percent while the Nifty 50 index declined by [...]
₹2.23 to ₹1,829: NBFC stock turns ₹10,000 to ₹82 Lakhs in just 5 years
During the trading session of Friday, the shares of a registered NBFC with core business operations focused on investing and lending slumped nearly 5 percent to hit an intraday low at Rs. 1,758.1 on BSE. With a market capitalisation of Rs. 31,068 crores, the shares of Authum Investment & Infrastructure Limited opened at Rs. 1,849, [...]
Stocks to Buy: 6 Stocks to buy now for an upside of 50%
The Indian Benchmark Indices closed in red on Friday with the Sensex losing around 230.05 points ending the week at 81,381.36 and the Nifty 50 index losing around 34.20 points ending the week at 24,964.25. In the last five trading sessions, the Sensex declined by approximately 0.73 percent while the Nifty 50 index declined by [...]
₹430 to ₹14,136: Pharma stock turns ₹10,000 to ₹3.29 Lakhs in just 5 years
According to business standards, the Indian pharmaceutical industry is a global powerhouse, projected to reach $130 billion by 2030, growing at over 10% annually. Currently valued at $50 billion, India supplies 20% of the world's generic medicines and accounts for 60% of global vaccine production, cementing its role as the "pharmacy of the world. With [...]
Stocks that may get affected by Israel-Iran war
India is Israel’s 2nd trading partner in Asia and the 9th largest globally. The bilateral trade has been majorly dominated by diamonds and chemicals. However, recent years have seen an increase in trade in areas such as electronic machinery and high-tech products; medical equipment; communications systems, etc. The two nations celebrated 30 years of the [...]
Latest Market News
Agrochem revenue to grow 15-17% in FY23: Report
Agrochemical players are likely to witness 15-17 per cent revenue growth this fiscal, mainly driven by strong global and domestic demand, according to a report. Revenue is expected to grow by 10-12 per cent in the next 2023-24 financial year as India continues to benefit from the China+1 strategy of global players and key molecules [...]
Kirloskar Systems appoints Manasi Tata on board of JV companies
Kirloskar Systems on Monday said it has appointed Manasi Tata, daughter of late Vikram Kirloskar, as Director on the board of the company's joint-venture firms with immediate effect. These joint ventures include Toyota Industries Engine India Pvt Ltd, Kirloskar Toyota Textile Machinery Pvt Ltd (KTTM), Toyota Material Handling India Pvt Ltd (TMHIN), and Denso Kirloskar [...]
SpiceJet shareholders’ approve re-appointment of Ajay Singh as director
Shareholders of SpiceJet on Monday approved the re-appointment of Ajay Singh as a director of the no-frills airline. At the annual general meeting, the shareholders also gave their nod for the adoption of audited financial statements for financial year ended March 31, 2022. In a regulatory filing, the carrier said the re-appointment of Singh as [...]
NDTV shares climb 5% in intra-day trade
Shares of NDTV climbed 5 per cent in intra-day trade on Monday after its founders Prannoy Roy and his wife Radhika Roy said they will sell all but 5 per cent of their remaining shareholding in the news broadcaster to Adani Group for up to Rs 647.6 crore. The stock jumped 4.99 per cent to [...]
Central Bank of India to raise up to Rs 1,500 crore this fiscal
State-owned Central Bank of India will raise up to Rs 1,500 crore this fiscal by issuing Basel III compliant bonds. The decision was taken at the bank's board meeting held on Monday. The board of directors considered and approved to raise capital through an issuance of non-convertible redeemable unsecured Basel III compliant tier II bonds [...]
Inox Green to acquire majority stake in wind service provider
Inox Green Energy Services on Monday said it will acquire a majority stake in an independent wind service provider that operates majorly in South India with a 230+MW fleet. However, the company did not disclose the value of the transaction and the name of the target company. The transaction is subject to certain regulatory and [...]
PLI scheme for textiles attracts Rs 1,536 cr in investments: Govt
The Rs 10,683-crore production-linked incentive scheme for India's textiles sector attracted investments of Rs 1,536 crore as approval letters were issued to 56 applicants who met the eligibility criteria, the government said on Monday. Applications under the PLI Scheme for textiles were received through a web portal from January 1, 2022, to February 28, 2022. [...]
Sensex, Nifty jump over 1% after four days of decline
Equity benchmarks ended with a jump of over 1 per cent on Monday after four days of losses amid a positive trend in global markets. The 30-share BSE benchmark rallied 721.13 points or 1.20 per cent to settle at 60,566.42. During the day, it jumped 988.49 points or 1.65 per cent to 60,833.78. On similar [...]
Newly merged company declared a dividend of ₹ 15 per share; Brokerage sees 24% upside
Shriram Transport Finance Company, the largest financier of commercial vehicles, and Shriram City Union Finance, the largest two-wheeler financer and leader in micro, small and medium enterprise (MSME) lending, have recently been merged to form Shriram Finance Limited. Its shares were trading at ₹ 1350.00 at 01:40 PM on Monday. The newly merged company informed [...]
Multibagger stock with more than 500% returns bags orders from ONGC
The shares of Deep Industries limited zoomed by approximately 6 percent on Monday’s trading session as it was trading at Rs 258.50 levels. The stock rallied after the company announced that it received a Letter of Award from the Oil and Natural Gas Corporation. The order entails the hiring of gas compression services at Balol [...]
Defence Stocks Soar As Ministry Approves ₹ 84,328 Crore Procurement; Brokerages See Up To 38% Upside
In a major boost to the preparedness of the armed forces, the Defence Ministry approved the procurement of military equipment and weapons worth ₹ 84,328 crores. This includes light tanks, anti-ship missiles, long-range guided bombs and next-generation offshore patrol vessels. The Defence Acquisition Council (DAC) headed by Defence Minister Rajnath Singh accorded approval for 24 [...]
PE fund Advent to buy Suven; merge it with Cohance lifesciences
Global private equity investor Advent International on Monday said it is acquiring a significant stake in Suven Pharmaceuticals from its promoters, the Jasti family. The PE major said this will be followed with an open offer to acquire 26 per cent more in the listed contract development and manufacturing organisation from public shareholders, and also [...]
BSE Stocks that rallied more than 10% today; Do you hold any?
After turmoil due to Covid fears, the Indian benchmark indices opened on a positive note amid mixed global cues on the last trading week of the year. In the late morning session, BSE Sensex was trading higher at the 60,500 level, while NSE Nifty 50 was trading above 18,000. As the markets gained momentum, here [...]
Mukesh Choudhary takes over as Coal India Director, Marketing
State-owned CIL on Monday said Mukesh Choudhary has taken over as its Director, Marketing. He assumed charge on December 23, Coal India Ltd (CIL) said in a statement. Prior to this, he was Deputy Director General, Department of Defence Production, Ministry of Defence. Choudhary took the charge from B Veera Reddy, Director (Technical) CIL who [...]
Godrej Properties buys 62-acre land in Kurukshetra for development of residential plots
Realty firm Godrej Properties on Monday said it has purchased about 62 acres of land in Kurukshetra, Haryana to develop a plotted residential project. In a regulatory filing, the company informed that this project will offer about 1.4 million square feet of plotted residential development. The company did not mention the total deal value of [...]
Siemens, India to manufacture 1,200 high-horsepower electric freight locomotives for railways
Siemens, India will manufacture 1,200 electric freight locomotives of 9,000 HP each for the railways, according to the terms of a contract valued at Rs 26,000 crore, the national transporter said on Saturday. The Indian Railways has issued a letter of award (LoA) for the manufacturing and maintenance of the 9,000-HP electric freight locomotives to [...]
India recognised as pharmacy of the world: FM
India is recognised as the pharmacy of the world as the country produces global standard medicine at affordable cost, Union Finance and Corporate Affairs Minister Nirmala Sitharaman said on Saturday. India supplies about 50 per cent of all of Africa's demand for generic medicine, 40 per cent of USA's need for generic medicine and 25 [...]
Maruti Suzuki expects sales of vehicles with auto gear shift to accelerate
With increasing congestion across cities in India, Maruti Suzuki India expects sales of its vehicles with auto gear shift to pick up further next year, according to company Senior Executive Officer, Marketing & Sales Shashank Srivastava. The company had introduced the auto gear shift (AGS) technology that relieves drivers from manually changing gears using the [...]
ONGC board revamp on lines of McKinsey suggestions
The Board of Oil and Natural Gas Corporation (ONGC) is being revamped by merging two directorships into one and creating a new position of director for corporate affairs in an attempt to breathe fresh life into the state-owned behemoth that is increasingly looking beyond oil and gas, sources said. ONGC Board presently has six directors [...]
Stocks to Invest: 7 Stocks to BUY now that can deliver returns of up to 88%
"We expect sectors like Entertainment, QSR, Hotels, Travel & Tourism to see decline as the government has initiated various precautionary measures. However, any decline will be a good opportunity to gradually accumulate fundamentally quality stocks." - Motilal Oswal Financial Services Amid global volatility, here are 7 stocks to buy for an upside of up to 88%: Devyani [...]
₹ 12.5 to ₹ 1,114: Multibagger Pharma stock turns ₹ 1 Lakh to ₹ 89 Lakhs in just 6 yrs
The Shares of Fredun Pharmaceuticals Ltd have delivered 8,820% in just six years, as the share price has risen from Rs 12.5 in March 2016 to the current level of Rs 1,114 on the BSE. Fredun Pharmaceuticals Limited has established itself as a reliable and ethical Company over the years. The company is into manufacturing [...]
COVID situation in China, global trends to guide markets this week: Analysts
Global trends and the COVID situation in China would drive the equity markets this week, which may also see volatility amid the scheduled derivatives expiry on Thursday, said analysts. According to analysts, investor sentiment remained subdued last week amid surging COVID cases in China and a few other nations. Also, stronger US growth data has [...]
Mutual funds see muted 2022; expect better days in new year
After a spectacular 2021, the mutual fund industry failed to continue the momentum this year with the growth in asset base, investors count and flows subsiding in 2022 on volatile market conditions, but the New Year is expected to be relatively better. The industry grew at a slower pace in 2022, mainly due to global [...]
FPIs invest Rs 11,557 cr in equities in Dec; COVID updates to drive flows in near term
NForeign investors have infused a net Rs 11,557 crore in Indian equities in December so far despite a market correction and increasing concerns over re-emergence of COVID in China and some other parts of the world. Going ahead, macro data from the US and COVID news will drive FPI flows and the [...]
Mcap of 10 most valued firms erodes by Rs 1.68 lakh cr; Reliance biggest drag
The combined market valuation of the top 10 valued firms eroded by Rs 1,68,552.42 crore last week, with Reliance Industries taking the biggest hit in an overall weak broader market. Last week, the Sensex tumbled 1,492.52 points or 2.43 per cent. Market sentiment remained weak amid surging COVID cases in China and a few other [...]
Stocks to BUY: 2 Defensive stocks to add to your portfolio as markets fall
The markets remain volatile and in the red as the fear of the resurgence of Covid 19 gripped the market. Amid the turmoil, investors turn to stocks that hold their ground. A defensive stock is a stock that provides consistent dividends and stable earnings regardless of the state of the overall stock market. Here are [...]
Weekly Recap: Pharma stocks shine as Covid fears grow, Torrent group to acquire Reliance Capital and More
The financial markets didn’t wish the investors in green for Christmas this week. The benchmark 50 stock Nifty 50 index declined 547 points or 2.50% over the week to close at 17,816 points. Similarly, the 30 companies BSE Sensex lost 2.60% or 1,596 points in value over the previous 5 trading sessions to settle at [...]
Retail industry sees 19% rise in sales during Apr-Nov 2022: Report
India's retail industry saw a 19 per cent rise in sales over pre-pandemic levels during the April-November 2022 period riding on the back of strong performance of segments such as quick service restaurant and footwear, Retailers Association of India (RAI) said on Friday. Region wise, the eastern part clocked the highest growth at 21 per [...]
FIIs invest in this stock which recently got listed at a discount
The shares of Sula Vineyards Limited, India’s largest wine producer and seller, made a flat debut on the Indian stock exchanges on Thursday after it listed at Rs 361 per share against its issue price of Rs 357 which represents a premium of 1 percent. Soon after its listing, the share dipped by more than [...]
2 PSU rail stocks bag orders securing revenue amid broad market decline
The second half of this financial year has been all about PSU stocks hitting their all-time highs. Government banks, NBFCs, and other government companies have become the new favourite of retail and institutional investors alike. The news has been flooded with headlines covering improving asset quality, companies securing new contracts and more. Rail Vikas Nigam [...]
Vedanta says declared as preferred bidder for Bicholim mineral block in Goa
Vedanta Ltd on Friday said it has been declared as a preferred bidder for Bicholim mineral block in Goa. The iron ore mines has resources of 84.92 million tonnes. "The company has been declared as 'preferred bidder' in respect of e-auction of Block I - Bicholim Mineral Block based on highest final price offer of [...]
5 Stocks in which your NPS pension fund manager has invested; Do you hold any?
National Pension System (NPS) is one of the few retirement-focused products in India. It is an attempt to provide adequate retirement income to every citizen of India. Under this system, individual savings are pooled into a pension fund which are invested by PFRDA-regulated professional fund managers. Investments are made in diversified portfolios comprising Government Bonds, [...]
Axiscades acquires Mistral Solutions for Rs 296 cr
Axiscades Technologies Ltd on Friday announced the completion of of acquisition of Mistral Solutions Private Ltd (MSPL) for Rs 296 crore. In a statement, Axiscades said it completed the acquisition of MSPL in a phased manner for Rs 296 crore. MSPL is a leader in semiconductor, embedded electronics, defence and product engineering capabilities, the company [...]
Gandhar Oil Refinery files IPO papers with Sebi
Gandhar Oil Refinery (India) Limited has filed preliminary papers with the capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises fresh issue of equity shares worth Rs 357 crore and an offer for sale (OFS) of 1.2 crore by promoters and existing shareholders, according to the draf red [...]
Japan’s MUFG Bank extends Rs 450 cr credit facility to Tata Power
Tata Power on Friday said it has received a Rs 450 crore "sustainable trade finance facility" from MUFG Bank of Japan to fund its solar projects in India. This credit facility was extended for two solar projects under TP Kirnali Limited (TPKL), the company said in a statement. TPKL is a 100 per cent subsidiary [...]
2 Companies to merge and make it the largest listed engineering and construction company
The National Company Law Tribunal has approved the merger of Kalpataru Power Transmission Ltd with JMC Projects (India) Ltd, which is set to make it the largest listed engineering and construction company in India. Kalpataru Power Transmission Limited is one of the largest specialized EPC companies engaged in power transmission & distribution, oil & gas [...]
Honda Cars India, Indian Bank tie up for vehicle loan
Honda Cars India (HCIL) on Friday said it has tied up with Indian Bank to provide vehicle finance for its customers. The partnership will offer easy loan disbursement, reasonable interest rates, special offers, flexible policies and simplified process, the company said in a statement. The customers can avail financing benefits across over 5,700 branches of [...]
Landmark Cars shares debut nearly 7% lower
Shares of automobile dealership chain Landmark Cars made a weak market debut on Friday, listing nearly 7 per cent lower against the issue price of Rs 506. The stock listed at Rs 471.30, a discount of 6.85 per cent on the BSE. It further dipped 11.76 per cent to Rs 446.45. At the NSE, the [...]
Mahindra Lifespace acquires over 9 acres of land in Mumbai for Rs 365 crore
Realty firm Mahindra Lifespace Developers Ltd has completed the acquisition of a 9.24-acre land parcel in Mumbai from Mahindra & Mahindra Ltd for Rs 365 crore. In February this year, Mahindra Lifespace had announced that it would purchase the land in Kandivali, Mumbai from Mahindra & Mahindra Ltd for the development of a housing project. [...]
Abans Holdings shares debut on flat note; climb over 1% on NSE
Shares of Abans Holdings, the financial services arm of the Abans Group, made a muted market debut on Friday, listing over 1 per cent higher on the NSE, against the issue price of Rs 270. The stock listed at par with the issue price of Rs 270 on the BSE. It later hit a high [...]
Tata Group stock at a discount of 40% from its high gets a BUY call; Check the latest target
The shares of Voltas Limited, a tata group stock opened at Rs 800 on Friday and shed as much as 2.5 percent to reach its new 52-week low of Rs 785. The shares hit their previous 52-week low of Rs 798.30 yesterday. The stock reached its 52-week high of Rs 1,347.65 in April this year. [...]
LIC’s shareholding in Info Edge crosses 5%-mark
Insurance behemoth Life Insurance Corporation of India (LIC) on Thursday said its shareholding in online company Info Edge has crossed 5 per cent with an additional investment of over Rs 12 crore. Its shareholding in Info Edge (India) Ltd has increased from 64,43,921 to 64,69,921 equity shares, or from 4.988 per cent to 5.008 per [...]
Wipro Gallagher sells its stake in Wipro Opus Risk Solutions
Wipro Gallagher Solutions, a wholly-owned subsidiary of Wipro Ltd, has sold its shareholding in Wipro Opus Risk Solutions, according to a filing by the company. With this transaction, Wipro Gallagher has divested only the non-core mortgage due diligence business, while retaining the core mortgage business with itself through other subsidiaries. "Wipro Gallagher Solutions Inc., a [...]
Future Enterprises defaults on Rs 86.18 lakh interest payment for NCDs
Debt-ridden Future Enterprises Ltd (FEL) on Thursday said it has defaulted on interest payment of Rs 86.18 lakh for its non-convertible debentures. The due date for payment was December 21, 2022, it said in a regulatory filing. "The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures... due on [...]
New India Assurance launches drone protection plan
New India Assurance on Thursday said it has launched a product to offer insurance cover to drones, becoming the first public sector player to enter the segment. The unmanned aircraft system (UAS/UAV/RPAS/drone) insurance will cover large aircraft to solo flying gliders. Coverage will be offered to drone owners, operators and manufacturers, the company said in [...]
RIL arm acquires 23.3% stake in US-based Exyn Technologies for USD 25 mn
RIL's arm Reliance Strategic Business Ventures has acquired 23.3 per cent stake in US-based Exyn Technologies Inc for USD 25 million (about Rs 207 crore). Exyn is one of the leading autonomy technology companies, which enable drones and robots to navigate difficult terrains without GPS or other navigation technologies. "Reliance Strategic Business Ventures Limited (RSBVL), [...]
India, Bangladesh agree to soon start talks for free trade pact
India and Bangladesh on Thursday agreed to start negotiations for a free trade agreement at an early date with an aim to boost two-way commerce and investments. The issue came up for discussions during a meeting between Commerce and Industry Minister Piyush Goyal and his Bangladeshi counterpart Tipu Munshi here. A joint feasibility study on [...]
Airtel, Apollo Hospitals conduct 5G-based tech trial for colon cancer detection
Telecom operator Bharti Airtel and Apollo Hospitals have carried out India's first 5G driven, artificial intelligence guided trial to detect colon cancer, the telecom firm said on Thursday. The trial was conducted using AI on Airtel's 5G technology with ultra-low latency and high processing capabilities, as a result of which the colon cancer was detected [...]
Godrej Properties eyes Rs 3,000 cr sales revenue from 14-acre new land in Gurugram
Godrej Properties is expecting around Rs 3,000 crore sales revenue from development of a new housing project in Gurugram. In a regulatory filing, the company said it has "entered into an agreement for development of 14.27 acres of land in Gurugram, Haryana." The development will comprise predominantly premium residential apartments. The proposed development on 14.27-acre [...]
Zydus unit receives USFDA nod to market generic version of Selexipag tablets
Zydus Lifesciences Ltd on Thursday said its subsidiary Zydus Worldwide DMCC has received final approval from the US health regulator to market its generic version of Selexipag tablets with 180 days of shared exclusivity. The approval granted by the US Food and Drug Administration (USFDA) is to market Selexipag tablets of strengths 200 mcg, 400 [...]
SBI Funds Management appoints Shamsher Singh as MD, CEO
SBI Funds Management Ltd on Thursday said it has appointed Shamsher Singh as managing director and chief executive officer of the company. Singh, who was deputy managing director at State Bank of India (SBI), has taken over the charge from Vinay M Tonse following his repatriation to the public sector lender, the asset management company [...]
Launch of digital rupee a historic milestone, says RBI executive director
Terming the launch of digital rupee a historic milestone, RBI executive director Ajay Kumar Choudhary on Thursday said the currency would bring in a lot of operational efficiency in the system and will foster financial inclusion. As per the central bank digital currency (CBDC) tracker, almost 105 countries representing 95 per cent of the world's [...]
NTPC ropes in GE Power India to carry R&D to reduce carbon emissions
NTPC Ltd on Thursday said it has inked an agreement with GE Power India Limited to reduce carbon emission from its coal-fired units. This agreement aims at partnering on research, development and engineering of technologies that will enable NTPC to reduce the amount of coal fired at units and gradually replace it by co-firing of [...]
Bank of Maharashtra raises Rs 880 crore through bonds; issue subscribed more than 4 times
State-owned Bank of Maharashtra (BoM) on Thursday said it has raised Rs 880 crore through Basel III-compliant Additional Tier 1 (AT1) bonds. The issue, including green shoe option of Rs 680 crore, was subscribed more than four times against base size of Rs 200 crore, the bank said in a statement. The fund raised through [...]
Aloke Singh to head Air India’s low cost airline biz from January 1
Air India Express CEO Aloke Singh will be the chief of Air India's low-cost airline business from January 1 next year, according to an internal communication. The Low Cost Carrier (LCC) business will comprise AirAsia India and Air India Express. "The two constituent airlines will continue to have the full complement of regulatory post-holders until [...]
Block Deal: Pharma stock zooms 6.83% amid reports about promoters selling a stake
The shares of Ajanta Pharma surged 6.83% on Thursday to reach an intraday high of ₹ 1,251.00 apiece on the National Stock Exchange (NSE). Its shares closed at ₹ 1233.00 apiece, up 5.22%. Volumes jumped at the counter and 10,93,311 shares changed hands on Thursday. There were reports that promoter group entities Ayush Agarwal Trust [...]
Schneider Electric to invest Rs 425 crore for smart factory in Bengaluru
Schneider Electric on Thursday said it plans to invest Rs 425 crore to develop a new smart factory in Bengaluru. "The new smart facility will consolidate 6 out of 10 existing factories of the company in Bengaluru, under one roof," Schneider Electric said in a statement. Under the plan, the new factory will be expanded [...]
TATA Projects, CSIR-IIP Ink MoU for Clean Energy Solutions
Business Wire India TATA Projects Limited, one of India's fastest growing and most admired infrastructure companies yesterday inked a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research – Indian Institute of Petroleum (CSIR – IIP) to collaborate and work together towards ensuring clean energy solutions. As part of this endeavor, clean [...]
Coal India can pursue overseas acquisition of coal mines after detailed study of blocks: Par Panel
With state-owned CIL not buying out of any coal blocks abroad at present, a Parliamentary panel on Thursday said the PSU can still pursue overseas acquisition of mines after detailed study and analysis of the blocks, especially low ash coking coal. The committee is of the view that this will not only reduce import of [...]
Equities skid for third day as bears tighten grip; Sensex ends below 61K
Equity benchmarks surrendered early gains to finish in the red for the third session on the trot on Thursday as hawkish comments from RBI and the Covid surge in China kept buying sentiment in check despite largely positive global market trends. After a gap-up opening, the 30-share BSE Sensex buckled under selling pressure as the [...]
DoT forms 4 task forces to boost domestic telecom mfg, remove hurdles
The Department of Telecom (DoT) has formed four task forces to recommend to the government measures that will boost the domestic telecom manufacturing ecosystem and remove the bottlenecks, an official memorandum said The development follows a round table between Communications Minister Ashwini Vaishnaw and 42 chiefs of telecom gear makers early this month where he [...]
Renewable energy sector to boom with likely investments of over USD 25 billion in 2023
With an oil price shock threatening to derail economies globally, the focus has shifted to renewable energy with over USD 25 billion or Rs 2 lakh crore investment planned in India for using sunlight, water and air to produce energy. Oil and gas prices shooting through the roof in 2022 in the aftermath of Russia's [...]
Ashish Kacholia stock down 6% after he sells 2.13 Lakh shares
The shares of D Link India Limited dropped by more than 6 percent till the afternoon on Thursday and were trading at Rs 214 levels. One of the reasons for the decline could be the block deal by ace investor Ashish Kacholia on Wednesday. As per the NSE bulk deal details, the ace investor sold [...]
IOC selects Reliance Jio’s managed network services for its petrol pumps
Indian Oil Corporation (IOC), the nation's largest oil firm, has selected Reliance Jio's managed network services to connect a fifth of its petrol pump network. Jio will connect 7,200 IOC sites with SD-WAN managed service solution, zero-touch provisioning and 24x7 real-time monitoring, the firm said in a statement Thursday. "Jio wins IOC order for providing [...]
5 Fundamentally strong stocks that are at a discount of more than 40%; Are you holding any?
After rallying for months, the Indian stock market has taken a turn. On Thursday, the Nifty 50 shed 113.90 points or 0.63% to be at 18,085 levels in the first half, while the BSE Sensex shed 396.67 points or 0.65% to trade at 60,670 levels in the first half. With the decline in the markets, [...]
Tata Comm to acquire US-based Switch Enterprises for Rs 486 cr
Tata Communications will acquire New York-based end-to-end live video production company The Switch Enterprises in an all-cash deal for Rs 486 crore, the company said on Thursday. With both companies coming together, Tata Communications will support The Switch customers with global reach to over 190 countries and territories and The Switch will bring live production [...]
Auto-ancillary stock gets a buy call from Motilal Oswal with an upside of 38%
The shares of Samvardhana Motherson International shed approximately 2 percent and were trading at Rs 68.75 levels till the afternoon on Thursday. In the past six months, the stock has shed approximately 11 percent. Motherson Sumi Systems is engaged primarily in the manufacture and sale of components to automotive original equipment manufacturers. In fact, it [...]
3 Low Debt stocks hat reached their 52-week low today; Are you holding any?
Indian markets opened higher on Thursday, tracking global equities. However, most shares slipped into the red, barring pharma and information technology stocks. The Sensex was at ₹ 60880 levels and the Nifty was at 18140 levels after shedding about 0.5% each. Here are a few stocks that reached their 52-week low on Thursday: BSE Ltd [...]
Maruti Suzuki signs 5-year pact with Kamarajar port for PV exports
Maruti Suzuki India Ltd on Thursday said it has signed a five-year pact with Kamarajar Port Ltd for export of its passenger vehicles to international markets. Under the agreement starting December 2022, Kamarajar Port will be used for exports to Africa, Middle East, Latin America, ASEAN, Oceania and SAARC regions by the company, Maruti Suzuki [...]
Jio deposits Rs 3,720 cr in SBI escrow account to acquire Reliance Infratel
Reliance Projects and Property Management Services, a subsidiary of telecom major Jio, has deposited Rs 3,720 crore in an SBI escrow account to acquire mobile tower and fibre assets of Reliance Infratel. The National Company Law Tribunal (NCLT) gave approval to Jio for the acquisition of Reliance Infratel (RITL) in November. "Reliance Infratel transaction is [...]
Pharma, Diagnostic stocks surge as Covid-19 fears resume
Rekindled covid fears have started haunting D-Street. The Sensex tumbled 885 points in the past two days and is at 60740 levels. Similarly, the Nifty 50 shed 330 points and is quoting at 18090 levels. While many other stocks were coloured in red, Pharma stocks climbed for the third day in a row, owing to [...]
Reliance Capital auction: Torrent Group highest bidder at Rs 8,600 cr
Torrent Group on Wednesday emerged as the highest bidder for debt-ridden Reliance Capital in the auction conducted as part of its resolution process. Ahmedabad-based Torrent Group submitted a bid of Rs 8,640 crore for acquiring the NBFC firm set up by the Anil Ambani Group, sources said. Hinduja Group was the second highest bidder, they [...]
Sula Vineyards shares make tepid market debut; list at over 1% premium
Shares of Sula Vineyards on Thursday made a tepid market debut, listing with a premium of just over 1 per cent on the NSE, against the issue price of Rs 357. The stock listed at Rs 358, marginally higher by 0.27 per cent from the issue price on the BSE. It later hit a high [...]
Adani Solar starts manufacturing large sized monocrystalline silicon ingots
Adani Solar on Wednesday said it has begun manufacturing of large sized monocrystalline silicon ingots in India. The monocrystalline ingots will drive indigenisation to produce renewable electricity from silicon-based PV (photovoltaic) modules with efficiencies ranging from 21 per cent to 24 per cent, the company said in a statement. "We are delighted to become India's [...]
NCLT approves merger of Kalpataru Power Transmission, JMC Projects
Kalpataru Power Transmission Ltd (KPTL) on Wednesday said the National Company Law Tribunal has approved the merger of JMC Projects (India) Ltd with the firm, making it one of the country's largest listed engineering and construction companies. The combined entity will have a significant presence in India and projects in 67 countries, with offerings in [...]
UK trade panel proposes lifting bar on Indian stainless steel
In its initial findings, the UK's Trade Remedies Authority (TRA) has proposed that a countervailing measure on imports of stainless steel bars and rods from India be revoked. Countervailing measures are put in place to offset imports being sold at unfair prices due to government subsidies in their country of origin. The TRA set out [...]
Max Financial Services promoter offloads 1.7% stake for Rs 400 cr
Max Ventures Investment Holdings, a promoter of financial services firm Max Financial Services, on Wednesday offloaded 58.85 lakh shares in the company for Rs 400 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Max Ventures Investment Holdings sold 58,85,000 shares (1.7 per cent) of [...]
GSMA asks govt to work on allocation of 6 Ghz band spectrum for 5G services
Global telecom industry body GSM Association has urged the Department of Telecom to earmark 6000 megahertz spectrum frequency band for 5G services to support the expansion of services in future. The government has auctioned spectrum frequency in the 3300-3670 Mhz band, known as mid-band, which was identified as most suitable band for 5G. The GSMA [...]
J’khand Assembly passes Rs 8,534-cr supplementary budget
The Jharkhand Assembly on Wednesday passed a Rs 8,533.79-crore supplementary budget for the current fiscal by voice vote. This is the second estimates with the House on August 1 passing a Rs 3,436.56-crore supplementary budget for the 2022-23 fiscal. Finance Minister Rameshwar Oraon, who had tabled the supplementary budget on Tuesday, said the government has [...]
Reliance to acquire Metro AG’s India business for Rs 2,850 crore
Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, today signed definitive agreements to acquire a 100 [...]
CCI clears ADIA, TPG’s minority stake buy in UPL Sustainable Agri Solutions
The Competition Commission of India (CCI) on Wednesday said it has approved the purchase of a minority stake in UPL Sustainable Agri Solutions (UPL SAS) by TPG and Abu Dhabi Investment Authority (ADIA). The deal has been cleared under the green channel route. Under this framework, a transaction which does not raise any risk of [...]
3 Stocks hit upper circuit of 20% today; Do you own any?
Benchmark equity indices BSE Sensex and NSE Nifty 50 ended in the red on Wednesday, after starting the session in the green, tracking global markets. Financial shares dragged the indices lower while gains in healthcare and IT shares supported the market. The BSE Sensex ended the session at 61067.24 points, down 1.03% or 635.05 points. [...]
Elin Electronics IPO subscribed 95% on day two of offer
The Initial Public Offer (IPO) of electronics manufacturing services company Elin Electronics was subscribed 95 per cent on the second day of subscription on Wednesday. The IPO received bids for 1,34,54,580 shares against 1,42,09,386 shares on offer, as per NSE data. The category meant for non-institutional investors was subscribed 1.29 times, Retail Individual Investors (RIIs) [...]
Healthcare stocks in limelight amid renewed Covid worries
Shares of firms related to healthcare were in the limelight on Wednesday amid surging COVID cases in China and some other countries. Union Health Minister Mansukh Mandaviya on Wednesday reviewed the Covid-19 situation in the country. Shares of Thyrocare Technologies jumped 14.85 per cent, IOL Chemicals and Pharmaceuticals rallied 14.16 per cent, Vijaya Diagnostic Centre [...]
KFin Technologies IPO subscribed 2.59 times on last day of offer
The initial share-sale of KFin Technologies was subscribed 2.59 times on the last day of offer on Wednesday. The Initial Public Offer (IPO) received bids for 6,14,67,520 shares against 2,37,75,215 shares on offer, according to an update on NSE. The category for Qualified Institutional Buyers (QIBs) was subscribed 4.17 times, the portion for Retail Individual [...]
Large-cap Bank stock touches new 52-week high; Analysts see a further upside of 28%
The shares of Axis Bank Limited continued to rally on Wednesday and reached a new 52-week high of Rs 958.90 in the early hours. In the span of a month, the stock has zoomed approximately 8 percent. Axis Bank is the third largest private sector bank in India. The Bank offers the entire spectrum of [...]
1.84 lakh Gram Panchayats service-ready with broadband infra under BharatNet: Govt
As many as 1,84,399 Gram Panchayats in the country have been made service-ready with broadband infrastructure under BharatNet, as on November 28, 2022, Parliament was informed on Wednesday. BharatNet project is being implemented in all the Gram Panchayats (GPs) and villages of the country to provide high speed internet and broadband, Minister of State for [...]
Domestic demand for finished steel to grow 8% this year: Icra
The demand for finished steel in India is expected to grow eight per cent this year compared to 2021, according to rating agency Icra. Supported by the government's infrastructure-led growth model, domestic finished steel demand has registered a double-digit growth of 11.9 per cent in the first eight months of the current fiscal, the ratings [...]
71 multi-state cooperative societies under liquidation till Dec 15: Shah
Around 71 multi-state cooperative societies are under liquidation this year so far, with the maximum number of them located in Rajasthan, Maharashtra, Delhi and Odisha, Parliament was informed on Wednesday. According to the data placed by Cooperation Minister Amit Shah in his written reply to the Rajya Sabha, five multi-state cooperative banks were also under [...]
RBM Infracon brings its IPO of ₹837 lakhs on 23rd December To be listed on NSE Emerge
RBM Infracon Limited, engaged in the business of engineering, execution, testing, commissioning operation and maintenance, particularly in the field of mechanical and rotary equipment brings its IPO of 2,325,000 shares aggregating ₹837 lakhs. The face value per share is ₹10 and the issue price per share is ₹36. The lot size is of 3000 shares. [...]
India has signed 13 FTAs, six preferential pacts so far, says minister
India has signed 13 free trade agreements (FTAs) and six preferential pacts so far with its trading partners for ensuring greater market access for domestic goods and promoting exports, Union minister Anupriya Patel said on Wednesday. The country has recently signed three such agreements with Mauritius, the UAE and Australia. Further, India is also actively [...]
Lupin receives USFDA’s nod for generic version of Brivaracetam tablets
Pharmaceuticals firm Lupin Ltd on Wednesday said it has received an approval from the US health regulator for the generic version of Brivaracetam tablets used for control of partial onset seizures. The approval by the US Food and Drug Administration (USFDA) is for Brivaracetam tablets of strengths 10 mg, 25 mg, 50 mg, 75 mg, [...]
Jefferies adds 2 metal stocks to its preferred bets after removing Zomato, Airtel and more
Global brokerage Jefferies said that its model portfolio has outperformed the Nifty by 209 bps from January to October 2022. However, since then it has underperformed as it raised cash, and the performance of the metals and the auto sector reversed. In its recent portfolio rejig, Jefferies chose two metal stocks — Tata Steel and [...]
IndiGrid, G R Infraprojects partner to bid for power transmission projects worth Rs 5,000 crore
Infrastructure investment trust India Grid Trust and G R Infraprojects have joined hands to bid for identified power transmission projects worth Rs 5,000 crore. "India Grid Trust (IndiGrid), India's first listed power sector infrastructure investment trust (InvIT) and G R Infraprojects Ltd (GRIL), one of India's leading players in Infrastructure sector, have announced a strategic [...]
IL&FS transfers two more road assets worth Rs 976 crore to Roadstar Invit
IL&FS on Wednesday said that it has transferred two more road projects -- Hazaribagh Ranchi Expressway and Thiruvananthapuram Road Development Company -- to Roadstar Infra Investment Trust at an enterprise value of Rs 979 crore. The infrastructure sector finance firm which went under insolvency in September 2018 still has four more road special purpose vehicles [...]
Airtel launches 5G services in Ahmedabad, Gandhinagar, Imphal
Telecom operator Bharti Airtel on Wednesday announced the launch of high-speed 5G services in Ahmedabad and Gandhinagar. The company also announced the roll out of 5G services in Imphal. In a statement anouncing that 5G services have gone live in Ahmedabad and Gandhinagar, the company said that the services are currently operational at SG Highway, [...]
Private cryptocurrencies can cause next financial crisis if allowed to grow, warns RBI Governor
Pressing for the prohibition of instruments like Bitcoin, Reserve Bank Governor Shaktikanta Das on Wednesday warned that the next financial crisis can be triggered by private cryptocurrencies, if such speculative instruments are allowed to grow. Das has been staunchly opposed to such instruments and the RBI has gone till the Supreme Court with its contention. [...]
CAI lowers cotton crop estimate to 339.75 lakh bales for 2022-23
The Cotton Association of India (CAI) on Tuesday reduced the cotton crop estimate by 4.25 lakh bales to 339.75 lakh bales for the 2022-23 season, beginning from October 2022, as the production in Haryana, Andhra Pradesh and Karnataka is expected to decline. The total cotton production in the last season is estimated at 307.05 lakh [...]
IIFL fintech fund picks up 16% in Samadhan for USD 2 mn
The IIFL Group's early-stage investment vehicle, IIFL Fintech Fund, has invested USD 2 million (around Rs 16.5 crore) in insurance technology startup Insurance Samadhan for a 16 per cent stake, valuing the platform at around USD 13 million (around Rs 107 crore). The startup also received another USD 1 million from other investors in the [...]
Auto components industry grows 34.8% to Rs 2.65 lakh crore in H1 FY23
India's auto components industry witnessed a 34.8 per cent growth to Rs 2.65 lakh crore in first-half of 2022-23, riding on domestic demand, particularly from the passenger vehicles segment, the Automotive Component Manufacturers Association of India said on Wednesday. During the period, exports of components grew by 8.6 per cent to USD 10.1 billion (Rs [...]
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