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Defence stock with revenue CAGR of 50% to keep on your radar
India's aerospace and defence sector is poised for significant growth, targeting a turnover of Rs 1.75 lakh crore by 2025, including Rs 35,000 crore in exports. With a budget allocation of Rs 6.22 lakh crore for FY 2024-25, the industry is set to expand rapidly, driven by modernization and indigenous manufacturing initiatives. With a market [...]
Safari Vs VIP Industries: Is Vijay Kedia’s stock better than Ashish Kacholia’s?
The luggage industry in India is witnessing a huge demand in tourism which can benefit two leading players, VIP Industries and Safari Industries. With projected market growth fueled by increasing travel demands and changing consumer preferences, investors need to assess these companies based on their analysis. However, the Ace Investor Vijay Kedia has bet on [...]
₹40 to ₹1208: Smallcap stock turns ₹10,000 to ₹3 Lakhs in just 5 yrs by delivering 2,888% Returns
Listed Below is the second-largest player in the container glass segment in India, engaged in the business of manufacturing and selling Container Glass bottles, PET bottles, and Security Caps and Closures under the Packaging Products segment. It has delivered a return of 2,888 percent in just 5 years there by multiplying the investor's money. Price [...]
Pharma stock jumps 7% after company to sell its lung cancer drug in Philippines
The shares of the pharmaceutical company gained up to 8 percent after the company received Marketing Authorization for Pemetrexed 500mg in the Philippines. With a market capitalization of Rs 447.73 crore, the shares of Venus Remedies Limited were trading at Rs 334.95 per share, increasing around 4.25 percent as compared to the previous closing price [...]
Solar stock held by BlackRock jumps 5% after receiving accreditation for its solar module test lab
The shares of the largest solar panel manufacturer gained up to 5 percent after the company secured NABL accreditation for its cutting-edge PV Module Test Lab (PMTL). With a market capitalization of Rs 83,047.83 crore, the shares of Waaree Energies Ltd were trading at Rs 2,896.45 per share, increasing around 2.02 percent as compared to [...]
Auto ancillary stock hits 10% upper circuit after expanding its operation in US Market
Auto Ancillary stock one of India’s largest manufacturers of MHCV clutches engaged in manufacturing Clutch products, systems, and Hydraulics hit a 10 percent upper circuit in the day’s trade following expansion and growth in revenue. Price Action With a market capitalization of Rs. 183 Crores, the shares of Setco Automotive Limited hit a 10 percent [...]
Chemical stock jumps 18% after Narmada Gelatines acquired 14% stake in the company
The shares of the chemical manufacturing company gained up to 18 percent after Narmada Gelatines Limited acquired 10 lakh equity shares in the company. With a market capitalization of Rs 295.86 crore, the shares of India Gelatine & Chemicals Ltd were trading at Rs 417.15 per share, increasing around 10 percent as compared to the [...]
Ashish Kacholia stock jumps 5% after receiving orders from Hitachi India and 2 others
In the dynamic world of corporate services, a rising star has emerged, showcasing remarkable agility and market versatility. Recent developments highlight the company's strategic positioning across multiple sectors, demonstrating its ability to secure significant contracts with prominent Indian enterprises. The organisation's recent success is evidenced by a series of high-profile agreements spanning diverse industries, including [...]
Agrochemical stock jumps after HDFC Mutual Funds and ACM Global Fund bought stake
The shares of agrochemical manufacturing gained up to 1 percent after HDFC Mutual Funds and ACM Global Fund acquired 9.84 lakh equity shares in the company. With a market capitalization of Rs 48,135.16 crore, the shares of UPL Limited were trading at Rs 561.10 per share, increasing around 0.45 percent as compared to the previous [...]
Swiggy vs Zomato: Which one should you choose and what are their valuations?
The food delivery and quick grocery business in India has seen tremendous growth in recent years, driven by changing consumer habits, urbanization, and a growing preference for convenience. Companies like Swiggy and Zomato dominate the food delivery landscape, offering a vast range of cuisines from local restaurants and chains, with fast delivery times and user-friendly [...]
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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
ACC and Ambuja Cements rally after Holcim India deal with Adani
Shares of ACC and Ambuja Cements were in huge demand on Monday after Gautam Adani's group clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion. The stock of ACC rallied 7.79 per cent to Rs 2,288.15 on the BSE. Shares of Ambuja Cements gained 4.13 per [...]
Adani Group to acquire Holcim India assets for USD 10.5 bn
Asia's richest man Gautam Adani's group on Sunday said it has clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion, marking the ports-to-energy conglomerate's entry into the cement sector. The Adani Group will acquire 63.1 per cent of Ambuja Cements Ltd along with related assets. Ambuja's [...]
Cryptos can lead to dollarisation of economy: RBI officials to par panel
Cryptocurrencies can lead to "dollarisation" of a part of the economy which would be against India’s sovereign interest, top officials of the RBI have told a parliamentary panel, according to sources. Briefing the Parliamentary Standing Committee on Finance chaired by former minister of state for finance Jayant Sinha, top officials of the RBI, including its [...]
Adani to acquire 49% stake in Quintillion Business Media
AMG Media Networks, a unit of billionaire Gautam Adani's conglomerate Adani Enterprises, will pick a 49 per cent stake in Raghav Bahl-curated digital business news platform Quintillion Business Media Pvt Ltd for an undisclosed sum, according to a regulatory filing. Earlier in March, Adani Enterprises announced its foray into the media business by acquiring an [...]
Analysts Bullish on this Multibagger Tata Group stock; Do you own it?
The shares of Voltas, a Tata Group company have fallen by 15.17% in the last five days. There was a major fall on Friday after it reported earnings below estimates for the quarter ended March 2022. Its share price declined 9.78% intraday to ₹ 1,045 apiece. The air conditioning and engineering services company’s net profit [...]
Lupin, Glenmark recall drugs in US market
Homegrown drug majors Lupin, Glenmark and Dr Reddy's Laboratories are recalling different products in the US, the world's largest market for medicines, due to deviation from standard manufacturing norms. As per the latest enforcement report by the US Food and Drug Administration (USFDA), Lupin is recalling over 33 lakh bottles of Losartan Potassium tablets, in [...]
Market Recap: Air India New CEO, The Holcim Race, Byju Acquisitions, Twitter deal and more!
The week started off as the Indian equity benchmarks slid. The Nifty 50 hit a fresh two-month closing low on Monday, extending losses to a second straight session. Global markets were weaker amid concerns related to rising interest rates and a tightening lockdown in Shanghai that added to the worries about global economic growth. Most [...]
Maruti Suzuki lines up Rs 5,000 cr capex for current fiscal
Maruti Suzuki India (MSI) has lined up Rs 5,000 crore capex for various initiatives, including new product launches, for the current financial year, according to a senior company official. The country's top carmaker, which had earmarked around Rs 4,500 crore in FY22, also believes that parent Suzuki Motor Corp's investment in Gujarat would help in [...]
Majoritarianism will be extremely dangerous for the future of India: Rajan
Majoritarianism will be extremely dangerous for the future of India and it should be resisted at every step, noted economist and former RBI governor Raghuram Rajan said on Saturday. Addressing a webinar, Rajan emphasised on the need to make the government more responsive to criticism by removing some of the legislative constraints on criticism. "Our trend towards [...]
Kalpataru Q4 Results: Consolidated net Profit dips around 39% YoY
Kalpataru Power Transmission (KPTL) on Saturday reported a 39 per cent decline in consolidated net profit to Rs 115 crore in the March quarter compared to the year-ago period. The consolidated net profit of the company was Rs 187 crore in the quarter ended on March 31, 2021, a BSE filing said. Total income [...]
Cryptocurrencies: why they’ve crashed and what it could mean for their future
If you had invested £100 (US$122) in the cryptocurrency Luna a month ago, you might have been quietly confident you’d made a sensible bet. But Luna’s value has since fallen drastically – at the time of writing, that £100 is worth around 4p (5¢). Luna was by no means the only victim in a week [...]
Shipping Corporation Q4 Results: Consolidated net profit jumps 77.42%
Shipping Corporation of India (SCI) on Saturday reported a 77.42 per cent jump in its consolidated net profit to Rs 152.16 crore for the fourth quarter ended March 2022. The state-owned company had clocked a consolidated profit of Rs 85.76 crore in the same quarter of 2020-21, it said in a regulatory filing. Its total [...]
Legal backing for RoW by Dec, says telecom minister
Telecom Minister Ashwini Vaishnaw on Saturday said legal backing for Right of Way (RoW) will be in place by December, and launched the GatiShakti Sanchar portal that will centralise and speed up approvals for laying of fibre and tower installations, as the country gears up for 5G roll-out. The GatiShakti Sanchar portal will facilitate centralised [...]
Wheat export ban will help in crushing attempts to hoard Indian wheat for price manipulation in global mkts: Sources
The government's decision to ban wheat exports will help in crushing attempts by certain foreign players to hoard Indian wheat for price manipulation in global markets, according to sources. With this move, they said, India wants to ensure fair and proper use of its wheat stocks to address global needs, particularly of the most needy [...]
Listed Fans raises USD 1.6 mn in funding led by Whiteboard Capital, Goodwater Capital
Listed Fans has raised USD 1.6 million (around Rs 12.39 crore) in funding led by Whiteboard Capital and Goodwater Capital. Listed Fans is a platform that allows people with social media followings to 'tokenise' their future potential thereby raising capital for their existing/next projects, in return giving their fans/followers an opportunity to invest in something [...]
India prohibits wheat exports with immediate effect
India has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to official notification. However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, the Directorate General of Foreign Trade (DGFT) said in [...]
Modi blames previous regimes for not encashing IT revolution, says start-ups grew exponentially post-2014
Targeting previous Congress governments, Prime Minister Narendra Modi on Friday said the Information Technology revolution could not be encashed earlier as the youth were not given encouragement, and an entire decade was wasted due to scams and policy paralysis. Because of the well thought out strategy of his government, the number of start-ups in India [...]
CBI seeks metadata of Yogi email from Microsoft in NSE co-location scam; MLAT request sent to US
The CBI has approached the United States under the Mutual Legal Assistance Treaty for collecting metadata and content data of the email id of a "formless Yogi" who is believed to be NSE official Anand Subramanian being probed in the co-location scam case at the bourse, officials here said Friday. The Central agency needs the [...]
PMI Electro to set up commercial EV manufacturing plant in Maharashtra
Electric bus maker PMI Electro on Friday announced the setting up of its largest commercial EV manufacturing plant having annual production capacity of 2,500 vehicles at Chakan in Maharashtra. The facility, for which the foundation stone was laid on Friday, would be in conformity with all green building norms and be commissioned by August 2023, [...]
Ashni Biyani resigns as MD of Future Consumer
Ashni Biyani, daughter of Future Group's Chairman Kishore Biyani, has resigned as the Managing Director of Future Consumer Ltd (FCL). Ashni Biyani's resignation has been accepted by the board. However, she would continue on the board and serve as the Non Executive Director of the company, a regulatory filing from FCL said. Besides, the board [...]
IPO-bound Paradeep Phosphates raises Rs 450 crore from anchor investors
Fertilizer company Paradeep Phosphates on Friday said it has raised a little over Rs 450 crore from anchor investors days before the roll-out of its initial public offering. The company has decided to allocate a total of 10,72,66,532 equity shares to anchor investors at Rs 42 apiece, aggregating the transaction size to Rs 450.52 crore, according to [...]
Triveni Turbine Q4 Results: Consolidated net profit rises 42% to Rs 33 crore
Triveni Turbine on Friday posted about 42 per cent rise in its consolidated net profit at Rs 33.02 crore in the March 2022 quarter. The consolidated net profit of the company stood at Rs 23.28 crore in the corresponding quarter for FY21, a BSE filing said. The total income in the quarter under review rose [...]
Eicher Q4 Results: Consolidated PAT up 16%; lines up Rs 1,100 cr capex for current fiscal
Eicher Motors on Friday said its consolidated net profit after tax increased by 16 per cent to Rs 610 crore for the fourth quarter ended March 31, 2022. The company had reported a net profit after tax of Rs 526 crore in the January-March quarter of the 2020-21 fiscal. Total revenue from operations rose to [...]
Nazara Tech Q4 Results: Consolidated profit up 17% to Rs 4.9 cr
Digital gaming and sports platform Nazara Technologies on Friday posted an about 17 per cent increase in consolidated profit to Rs 4.9 crore for the quarter ended March 2022. The company had logged a profit of Rs 4.2 crore in the same period a year ago. Revenue from operations increased by about 42 per cent [...]
Jet Airways to have best possible app, website among Indian carriers: CEO
Jet Airways will have the best possible app, website and IT systems and services among all Indian carriers without losing the human touch, its CEO Sanjiv Kapoor said on Friday. "Human interaction cannot be fully replaced by technology -- it must always be there as a backup, especially when things go wrong (during irregular operations, [...]
Tech Mahindra Q4 Results: Consolidated net profit zooms 39% YoY
IT services provider Tech Mahindra on Friday reported a 39 per cent jump in its consolidated net profit for March 2022 quarter at Rs 1,678.4 crore, and exuded confidence that the positive business momentum will continue in the current fiscal. On a standalone basis, the Mahindra group company reported a post-tax profit at Rs 1,505 [...]
Gold price falls Rs 360 on international trends, rupee appreciation
Gold price declined Rs 360 to Rs 50,127 per 10 grams in the national capital on Friday, reflecting an overnight slump in international precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal ended at Rs 50,487 per 10 grams. Silver fell Rs 252 to Rs 58,916 per [...]
Rosmerta Group acquires Sensorise Digital Services
Transport technology services provider Rosmerta Group on Friday announced the acquisition of Sensorise Digital Services, in which it has been a strategic investor since inception. This acquisition reinforces the belief of the group in the opportunities that Machine-to-Machine (M2M) and Internet-of-Things (IoT) space are expected to provide in the years to come, Rosmerta Group said [...]
Vodafone Idea debt a challenge; fundraise critical for competitiveness, say analysts
Even as debt-ridden telecom operator Vodafone Idea's financial performance in the March 2022 quarter has been in line with the industry expectations, the long-pending fundraise is crucial for the company to remain competitive, say analysts. According to a JP Morgan report, high leverage makes the value of Vodafone Idea (VIL) equity complicated and very sensitive [...]
Retail businesses grow 23% in April: RAI
Retail businesses across India grew 23 per cent in April this year in terms of sales as compared to pre-pandemic levels of the same month in 2019 with customers coming back to stores, as per industry body RAI. According to the latest survey by Retailers Association of India (RAI), retail businesses across regions grew in [...]
Markets lurch lower for sixth day as bears tighten grip; SBI tanks after Q4 net misses estimates
Equity benchmarks capitulated in fag-end trade on Friday to post their sixth straight session of loss as investors fled for safety amid dismal macroeconomic data and persistent selling by foreign investors. Building on a firm start, the 30-share BSE Sensex rallied over 800 points in afternoon trade but buckled under intense selling pressure to finish [...]
DB Corp Q4 Results: Consolidated net profit down 60%, Dividend recommended
Media house DB Corp on Friday reported a 60.39 per cent decline in consolidated net profit at Rs 24.52 crore for the fourth quarter ended March 2022. The company had clocked a net profit of Rs 61.91 crore in the January-March period a year ago, DB Corp said in a regulatory filing. However, revenue from [...]
India-UAE trade pact to create huge job opportunities, boost economy: Goyal
The comprehensive trade agreement between India and the UAE will help in creating huge job opportunities and boost growth of the domestic economy, Commerce and Industry Minister Piyush Goyal said on Friday. The bilateral pact, officially dubbed as the Comprehensive Economic Partnership Agreement (CEPA) is expected to increase the bilateral trade in goods to over [...]
Microblogging platform Koo bets on rapid user base growth to overtake Twitter in India within one year
Amid the buzz over Elon Musk's proposed takeover of Twitter, India's homegrown microblogging platform Koo is aiming at overtaking it in the country within a year in terms of user base, which has seen a rapid growth, a senior company official said. Started in March 2020, the social media platform has witnessed 30 million downloads [...]
IREDA keen to promote renewable energy projects in Odisha
The Indian Renewable Energy Development Agency on Friday said it is keen to promote more green energy projects in Odisha and has already sanctioned loans worth Rs 670 crore within one year of opening its branch in the state. The Indian Renewable Energy Development Agency (IREDA), a public sector non-banking financial institution, has been engaged [...]
RattanIndia Power reports Rs 306 cr loss in March quarter
RattanIndia Power on Friday reported a loss of Rs 306.39 crore for the quarter ended March mainly due to lower revenues. The consolidated net profit of the company was at Rs 39.28 crore in the year-ago period, according to a BSE filing. Total income during the quarter came down to Rs 1,032.75 crore from Rs [...]
Welspun Enterprises Q4 Results: Consolidated net profit jumps over 58%
Welspun Enterprises Ltd on Friday said its consolidated net profit jumped over 58 per cent to Rs 65 crore for the quarter ended March 31, on account of reduced expenses. In the year-ago period, the company had clocked Rs 40.94-crore net profit, Welspun Enterprises Ltd (WEL) said in a statement. However, its total income during [...]
VIL records top download speed of 5.92 Gbps in Pune 5G trials
Vodafone Idea Ltd (VIL) and Ericsson on Friday announced achievement of a technology milestone during the ongoing 5G trials, by demonstrating a peak download speed of 5.92 gigabits per second. VIL clinched the new speed milestone on a single test device during its 5G trials in Pune (Maharashtra), according to a release. Earlier, during its [...]
Union Bank of India Q4 Results: Consolidated net profit rises 23% helped by stake-sale in life arm
State-owned Union Bank of India on Friday reported 22.68 per cent jump in consolidated net profit at Rs 1,557.09 crore for March quarter 2021-22 helped by a Rs 627 crore gain through a stake-sale in its insurance arm and benefits through low cost of deposits. On a standalone basis, the lender reported 8.26 per cent [...]
DRI seizes 15.93 kg gold smuggled through India-Myanmar border
Revenue Intelligence officers have seized 15.93 kg of foreign origin gold valued at over Rs 8 crore smuggled through the India-Myanmar border, the Finance Ministry said on Friday. In an operation code-named 'Gold on the Highway', the Directorate of Revenue Intelligence (DRI) officers acted on specific intelligence mounted surveillance on two oil tankers and a [...]
Govt fixes LIC issue price at Rs 949 a share; policyholders, retail investors get discount
The government has fixed the issue price of LIC shares at Rs 949 apiece, the upper end of the IPO price band, ahead of the listing of the country's largest insurer on May 17. However, LIC policyholders and retail investors have got the shares at a price of Rs 889 and Rs 904 a piece, [...]
Swiggy to acquire Dineout
On-demand convenience platform Swiggy on Friday said it has entered into a definitive agreement with Times Internet to acquire dining out and restaurant tech platform Dineout for an undisclosed sum. Dineout, which serves diners across its network of 50,000 restaurants in 20 cities, will continue to operate as an independent app post the acquisition, Swiggy [...]
ADB hints at providing USD 2.5 billion loan to cash-strapped Pakistan
The Asian Development Bank (ADB) has indicated that it will provide USD 2.5 billion in additional loans to Pakistan, including USD 1.5 billion before the end of this year, to help the cash-starved country which is in dire need of foreign assistance due to its depleting forex reserves and growing repayments and import financing requirements. [...]
Pakistan’s foreign exchange reserves plunge to lowest level since Dec 2019: Report
Cash-strapped Pakistan's foreign exchange reserves have dropped to their lowest level since December 2019, owing to an increase in current account and trade deficits, higher external debt payments and dried dollar inflows, according to a media report on Friday. As per data from Pakistan's central bank, inflows clocked in at USD 16.4 billion in the [...]
Agritech startup Fyllo raises USD 2 million
Agritech startup Fyllo on Friday said it has raised USD 2 million (over Rs 15 crore) in a funding round led by Triveni Trust, Ninjacart and existing investor IAN. New investors, including Venture Catalysts, StarAgri, Kia Ora Ventures, Singularity Ventures and Mastermind Capital, also took part in the round, the company said in a statement. [...]
More lives lost in road accidents than in war: V K Singh
India loses more people in road accidents than in a war, Union Minister General (retd) V K Singh said on Friday. Addressing an event organised by industry body Assocham, Singh said road safety is the most important issue which the government needs to tackle. "More than 1.35 lakh people lose their lives due to road [...]
Crude oil futures gain on spot demand
Crude oil prices on Friday rose by Rs 87 to Rs 8,261 per barrel as participants widened positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 87 or 1.06 per cent at Rs 8,261 per barrel in 5,601 lots. Analysts said the raising of [...]
Brookfield-backed PIL, GAIL sign initial pact for hydrogen collaboration
Brookfield Asset Management-based Pipeline Infrastructure Ltd has signed a pact with state-owned GAIL for jointly developing a hydrogen-based ecosystem in India. The MoU aims at collectively exploring the feasibility, desirability and viability of hydrogen as a source of energy and thus build a partnership between the companies, official sources said. Pipeline Infrastructure Limited (PIL) is [...]
L&T bags order from Rajasthan govt
Larsen & Toubro (L&T) on Friday said it has bagged a significant order from the Rajasthan government for executing a parallel carrier system to the Rajiv Gandhi Lined Canal. According to L&T's project classification, the value of the order falls between Rs 1,000-2,500 crore. The project will serve the water demands of districts of Jodhpur, [...]
LIC IPO may list at a discount; Check GMP and Allotment status now
The Life Insurance Corporation of India has already allotted its shares. The focus has now shifted toward the listing date and price. The shares will most likely get listed on 17th May 2022. However, market observers feel that the shares will get listed at a discount. Investors can check their share allotment status using their [...]
LIC Housing Finance ups home loan interest rate by 20 bps for select borrowers
Mortgage financier LIC Housing Finance (LIC HFL) on Friday increased interest rate on home loans by 20 basis points to 6.9 per cent, from 6.7 per cent, for select borrowers. For borrowers with CIBIL score of 700 and above, the rate hike has been limited to only 20 bps, LIC Housing Finance said in a [...]
Everything about Axis Mutual Fund’s Front-Running; What should investors do?
Axis Mutual Fund, removed two fund managers, Viresh Joshi and Deepak Agarwal, on account of alleged front running.It was observed that Axis Mutual Fund’s average AUM jumped 32% to ₹ 2.24 trillion for the March quarter. This was higher than the industry average growth of 20%.Most experts believe that it is best to wait for [...]
US ready to work with new Lankan PM Wickremesinghe; calls for early formation of inclusive government
US Ambassador to Sri Lanka has congratulated the newly-appointed Prime Minister of Sri Lanka Ranil Wickremesinghe and hoped that an inclusive government would be formed quickly to address the economic crisis and promote stability in the island nation. Wickremesinghe, 73, was sworn in as Sri Lanka's 26th prime minister on Thursday to stabilise the country's [...]
Zipaworld Innovation plans to raise USD 0.5 mn at USD 14 mn valuation
Digital logistics startup Zipaworld Innovation on Friday said it is planning to raise USD 0.5 million (around Rs 3.8 crore) at a valuation of USD 14-million, in an early-stage round of investment from angel investors from the pharma and chemicals industry. The startup plans to harness the funds to mobilise and accelerate AI and ML-based [...]
Poonawalla Fincorp Limited Records Consolidated PAT of Rs 375 Cr in FY22
AUM up 17% | Net NPA down to 1.1% | NIM increases to 8.9% Pune, Maharashtra, India – Business Wire India The Board of Directors (Board) of Poonawalla Fincorp Limited (PFL), a non-deposit taking systemically important NBFC focusing on consumer and small business finance, today announced its audited results for the year ended Mar 31, [...]
Tata Motors shares jump over 8% after Q4 earnings
Shares of Tata Motors rallied over 8 per cent in early trade on Friday, a day after the company reported narrowing of consolidated net loss at Rs 992.05 crore in the fourth quarter ended March 2022. The stock jumped 8.30 per cent to Rs 403 on the BSE. At the NSE, it zoomed 8.31 per [...]
Zydus Lifesciences launches drug for treating bad cholesterol
Zydus Lifesciences on Friday said it has launched in India its Bempedoic acid drug under the Bemdac brand for treatment of uncontrolled levels of bad cholesterol. Bemdac (Bempedoic acid) is a new class of drug which is orally administered and offers a new line of treatment for patients suffering from uncontrolled levels of LDL-Cholesterol (LDL-c) [...]
L&T Q4 Results: Consolidated net profit rises 10% to Rs 3,621 cr
Larsen & Toubro on Thursday reported a 10 per cent growth in its consolidated net profit at Rs 3,620.69 crore for the quarter ended March, 2022. The company had posted a consolidated net profit of Rs 3,292.81 crore in the year-ago period, Larsen & Toubro (L&T) said. The consolidated income during the quarter under review [...]
Future Retail Ltd gets time till June 6 to file reply on insolvency plea
The National Company Law Tribunal (NCLT) on Thursday gave time till June 6 to Future Retail Ltd (FRL) to file its reply on the insolvency petition filed by Bank of India, which told the tribunal that any delay in initiating the resolution process could jeopardise recovery of money lent to the firm. In April, Bank [...]
Govt’s Rs 16k cr dues conversion into 33% stake to be completed in coming weeks: VIL CEO
Debt-ridden telecom operator Vodafone Idea expects the government to complete conversion of around Rs 16,100 crore dues into 33 per cent stake in the company in the coming weeks, a top official of the firm said. During the company's earnings call, Vodafone Idea CEO Ravinder Takkar said as part of the telecom reforms package, the [...]
No load-shedding in Maharashtra for 22 days now: Energy Minister
Maharashtra Energy Minister Nitin Raut on Thursday said there has been no load-shedding in the state for the last 22 days and attributed this to good work and right planning by his department. He appealed to consumers to pay their energy bills on time and avoid wastage of electricity. “There is a shortage of coal [...]
Mahindra CIE Automotive promoter buys shares worth Rs 200 cr
A promoter entity of automotive component supplier Mahindra CIE Automotive Ltd on Thursday bought the company's shares worth Rs 200 crore through an open market transaction. According to bulk deal data available with BSE, Participaciones Internacionales Autometal Dossociedad Limitada purchased 1,02,36,240 shares at an average price of Rs 195 apiece. This took the transaction value [...]
Inflation surges to 8-yr high, interest rate hike may be on cards
India's headline inflation galloped for a seventh straight month to touch an 8-year high of 7.79 per cent in April on rising food and fuel prices, raising the odds of an interest rate hike by the RBI early next month to tame prices. With factory output measured in terms of the Index of Industrial Production [...]
Tata Motors expects capex to increase to up to Rs 6,000 cr in FY23
Tata Motors expects its capex to increase to up to Rs 6,000 crore in the ongoing fiscal to support various programmes across its commercial, passenger and electric vehicles verticals, Group CFO P B Balaji said on Thursday. While the company has committed investments for its businesses to get well funded and the transition to the [...]
Siemens Q4 Results: Consolidated net profit rises 2.5%
Siemens on Thursday posted a 2.5 per cent rise in its consolidated net profit at Rs 340 crore in the quarter ended March 2022. In the year-ago quarter, the consolidated net profit of the company was Rs 331.5 crore, Siemens said in a BSE filing. Total income in the quarter under review rose to Rs [...]
SC denies interim relief to policyholders seeking stay on LIC IPO shares allotment
The Supreme Court Thursday refused to grant any interim relief and stay the Life Insurance Corporation (LIC) IPO share allotment on a batch of pleas filed by some policyholders. A bench of Justices DY Chandrachud, Surya Kant, and PS Narasimha said that the court should be reluctant to grant any interim relief in matters of [...]
Coal scam: SC seeks ED’s report on progress in probe of over 50 money laundering cases
The Supreme Court Thursday directed the Enforcement Directorate (ED) to apprise about the progress made by it so far in the investigation of over 50 money laundering cases arising out of the coal block allocation scam. The top court, meanwhile, also permitted the anti-money laundering probe agency to relieve or repatriate four senior officers, monitoring [...]
Consumer durables to see 3-5% price hikes as costlier imports amid rupee fall add to input costs
Prices of home appliances and consumer electronics, including TV, washing machines, and refrigerators, are expected to go up by 3 to 5 per cent from May end or the first week of June as manufacturers pass on the impact of rising input costs to buyers, according to industry players. Moreover, the depreciating Indian rupee against [...]
Number of subscribers under PFRDA pension schemes up 23% to 5.23 cr
The number of subscribers under the two flagship pension schemes of PFRDA increased nearly 23 per cent to over 5.23 crore by April-end 2022. The subscriber base of the two schemes combined was 4.26 crore in April last year, Pension Fund Regulatory and Development Authority (PFRDA) data showed. The flagship schemes -- National Pension System [...]
Tata Motors Q4 Results: Consolidated net loss narrows to Rs 992.05 cr
Homegrown auto major Tata Motors on Thursday reported narrowing of consolidated net loss to Rs 992.05 crore in the fourth quarter ended March 2022. The company had posted a consolidated net loss of Rs 7,585.34 crore in the same period last fiscal, Tata Motors said in a regulatory filing. Total consolidated revenue from operations stood [...]
NEWSALERT
Tata Motors Q4 consolidated net loss at Rs 992.05 cr; total revenue from operations at Rs 7,585.34 cr: Company filing. PTI RKL ABM ABM
GAIL to set up green hydrogen plant at Guna in MP
State-owned GAIL (India) Ltd will build one of India's largest proton exchange membrane (PEM) electrolyzer at Guna in Madhya Pradesh to produce green hydrogen by the end of 2023, as it looks to supplement its natural gas business with carbon-free fuel. In a statement, India's largest gas transporting and marketing firm said it has awarded [...]
Buy this Monopoly Stock Trading at 52-week Low for a target price of ₹2050
The shares of MCX Limited reached a fresh 52-week low of ₹ 1150.00 apiece on Thursday. This was led by a heavy sell-off by FIIs, following global cues like rising interest rates and the geopolitical crisis. Major central banks have increased the rates, thereby leading to a selling spree in the stock markets on a [...]
OILSEEDS PRICES
MAY 12, 2022 MUMBAI, (PTI) OIL SEEDS (per 100 Kgs) Gr. Kernel 8075.00 Gr. Bolds 60/70 8800.00 Gr. Javas 60/70 9900.00 Gr Javas 70/80 8900.00 Gr.Javas 80/90 9400.00 Kardiseed 2pct Crug/Expor Qly 5500.00 Seasameseed Whitish 98/2/FFA/1FM 10000.00 Whitish 95/5/FFA/1FM 9800.00 Brown 48/2 FFA/4 FM 9400.00 Brown 48/3 FFA/4 FM 9100.00 Brown 48/4 FM/* No FFA [...]
Campbell Wilson appointed CEO and MD of Air India
Tata Sons on Thursday announced the appointment of Campbell Wilson as the Chief Executive Officer and Managing Director (MD) of Air India. The Air India board approved the appointment of Wilson subject to requisite regulatory approvals, the company said in a statement. Wilson, 50, is the CEO of Scoot, the wholly-owned low-cost subsidiary of Singapore [...]
Petronet seeks lower price for renewing Qatar deal
New Delhi, May 12 (PTI) India's top gas importer Petronet LNG Ltd wants Qatar Gas to lower prices for it to renew a long-term liquefied natural gas (LNG) import deal beyond 2028, its CEO Akshay Kumar Singh said on Thursday. The company in the immediate term is looking to tie up 0.75 to 1 million [...]
Annual salary hikes inch closer to pre-Covid levels; to be around 8.13% this year: Report
The median salary increment this year is likely to be around 8.13 per cent as the country recovered from the after effects of pandemic-related disruptions, a report said. According to the 'Jobs and Salary Primer Report for FY2022 by TeamLease', unlike the last two years, this year most of the job roles from across sectors [...]
Xtracover aims about three-fold increase in revenue to Rs 275 cr this fiscal
Online after-sales services company Xtracover on Thursday said that it aims to increase revenue by about three-fold to Rs 275 crore in the current financial year. Betting on the sale of refurbished smartphones and electronic devices, Xtracover founder and CEO Soumitra Gupta told PTI that it has clocked a revenue of over Rs 100 crore [...]
NTPC to raise Rs 5,000 cr via term-loan to fund capex
State-owned power giant NTPC has invited bids for raising term-loan of up to Rs 5,000 crore, which would be utilised for capital expenditure for ongoing or new electricity generation capacity addition projects. "Proceeds of the loan shall be utilised towards capital expenditure for ongoing/new capacity addition programme, including the takeover of projects, renewable energy projects, [...]
NSE co-location case: Delhi court dismisses bail pleas of Chitra Ramkrishna, Anand Subramanian
A Delhi court on Thursday dismissed the bail applications of the National Stock Exchange’s (NSE) former boss Chitra Ramkrishna and group operating officer Anand Subramanian in the co-location case. Denying the relief, Special Judge Sanjeev Aggarwal said there was no sufficient ground to grant them bail. The court reserved its order after hearing arguments from [...]
Crude oil futures decline on low demand
New Delhi, May 12 (PTI) Crude oil futures on Thursday dropped by 1.57 per cent to Rs 8,027 per barrel as participants trimmed their positions on low demand. On the Multi Commodity Exchange, crude oil for May delivery fell by Rs 128 or 1.57 per cent to Rs 8,027 per barrel with a business volume [...]
Philips Expands Manufacturing and Research and Development Facility in Pune, Maharashtra
Pune, Maharashtra, India – Business Wire India Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology today unveiled the conclusion of 7,200 sqm expansion in its factory in Chakan, Maharashtra. The state-of-the-art factory now houses a total floor space of 11,700 sqm. and supports the MR Radio Frequency Coil, Mobile Surgery Systems, [...]
We may consider preferential trade pact with Oman: Goyal
India may consider negotiating a preferential trade agreement (PTA) with Oman to further boost economic ties between the countries, Commerce and Industry Minister Piyush Goyal said on Thursday. India is also under active discussions with Gulf Cooperation Council (GCC) for a comprehensive trade agreement, the minister said. GCC is a union of six countries in [...]
Sahyadri Hospitals launches ‘Momstory’ – complete care dedicated to women’s health
Dedicated Centre for Women's health and Pregnancy & Child Care PUNE, India, May 12, 2022 /PRNewswire/ -- In a bid to increase thrust on women's health and make the journey of pregnancy more comfortable and cherished, Sahyadri Hospitals has launched 'Mom Story' bringing all the services and needs pertaining to women's health under one roof. [...]
CBDT asks tax officers to not issue reassessment notices for 3 years till FY15
The Income Tax Department has asked field offices to not issue reassessment notices for 2012-13, 2013-14 and 2014-15 fiscal years to small taxpayers wherein the income escaping from tax is less than Rs 50 lakh. Issuing an instruction on implementation of the apex court judgement regarding notices sent beyond the three-year reassessment period, the department [...]
Humsafar to expand doorstep diesel services to 200 cities
Doorstep diesel services startup Humsafar India on Thursday said it plans to expand its services to 200 more cities in the country during this fiscal year in a bid to capture higher market share in the segment. The company also said it is looking to venture into e-mobile vehicle charging stations business and is negotiating [...]
Demand environment robust; cos looking to accelerate digital transformation: Roshni Nadar
The demand environment for technology "continues to be robust" despite the challenges seen over the last two years, and global clients have a razor-sharp focus on accelerating digital transformation with efficiency, HCL Technologies Chairperson Roshni Nadar Malhotra said on Thursday. North Asia, Central America, Eastern Europe and Africa are newer geographies for the company, she [...]
MUM BULLION OPENING PRICES
MUMBAI, MAY 12 (PTI) MUMBAI BULLION OPENING RATES:- OPENING RATES SILVER SPOT (IN RS PER KILO) : 60460.00 STANDARD GOLD (99.5) : 51079.00 PURE GOLD (99.9) : 51284.00 ------------ PTI MUMSVC SVC
MUM PEPPER COPRA OPENING RATES
MUMBAI, MAY 12 (PTI) Mumbai :- PEPPER COPRA RATES :- BLACK PEPPER READY 560 / 620 GINGER BLEACHED -- GINGER UNBLEACHED 155 COPRA OFFICE ALAPUZHA 9200 COPRA OFFICE KOZIZODE 9000 COPRA RAJAPUR MUMBAI 17500 COPRA EDIBLE MUMBAI 13500 COCHIN COCONUT OIL ---- COCONUT OIL MUMBAI 1850 T.P ------------ PTI MUMSVC SVC
This is How Indian Tech Startup IPOs performed so far in 2022!
The year 2021 witnessed many Indian Tech Startups going public and entering the Indian stock market like Paytm, Zomato, Nykaa, Policy bazaar, etc. However, coming to 2022, the market has not been very kind to the equity investors so far. The market is continuously declining amid the Russia-Ukraine Crisis, Global Sell-off, and RBI repo rate [...]
JSW Infra commissions Rs 1,300-cr Paradip East Quay coal terminal
JSW Infrastructure has started commercial operations at the Paradip East Quay coal terminal in Odisha, developed at an investment of around Rs 1,300 crore. The fully-mechanised terminal at Paradip Port has an annual handling capacity of 30 million tonnes. Built as a cape compliant terminal, it can handle capesize vessels once the dredging at the [...]
PNB Q4 Results: Standalone net drops 66% to Rs 202 crore
Public sector lender Punjab National Bank on Wednesday reported a 66 per cent decline in its standalone net profit at Rs 202 crore for the quarter ended March 2022 due to higher amount parked towards provisioning, even as bad loans declined. The bank had posted a net profit of Rs 586 crore in the same [...]
NEWSALERT
Plane in China skids off runway, catches fire; casualties feared: Official media. PTI KJV CPS AKJ CPS
Paradeep Phosphates IPO to open on May 17; govt to sell its entire stake
Fertiliser company Paradeep Phosphates Ltd will come out with its initial public offering on May 17 and the price band has been fixed at Rs 39-42 per share. Through the Initial Public Offering (IPO), which will conclude on May 19, the government will be offloadng its entire 19.55 per cent stake in the company. The [...]
Indian Bank Q4 Results: Profit after tax declines 42% to Rs 984 crore
Public sector lender Indian Bank on Wednesday reported a 42 per cent dip in its standalone net profit at Rs 984 crore in the quarter ended March 2022, after it changed the deferred tax asset calculation from annual to quarterly basis. In the year-ago quarter, the bank's standalone net profit stood at Rs 1,709 crore [...]
Gujarat’s debt burden lowest among big states: govt
Ahmedabad, May 11 (PTI) At over Rs 3,00,000 crore, Gujarat's public debt is the lowest among states with big populations in the country, the state government said on Wednesday. Speaking to reporters in Gandhinagar after a cabinet meeting, education minister Jitu Vaghani also informed that road projects worth Rs 12,200 crore will be completed in [...]
Venus Pipes IPO subscribed 2.37 times on first day of offer
The initial public offer of Venus Pipes and Tubes got fully subscribed within the first few hours of opening on Wednesday. It closed with 2.37 times subscription on the first day. The category meant for Retail Individual Investors (RIIs) received 4.10 times subscription, while the portion for non-institutional investors got subscribed fully and Qualified Institutional [...]
CM Bommai Invites Global Business Leaders to Invest in Karnataka
Top business leaders and diplomats attended the curtain raiser event of the Global Investors Meet (GIM) held in New Delhi today • CM Bommai urged everyone to join the GIM, which will be held from Nov 2nd - 4th 2022 at Bengaluru In a major international outreach to garner investments for the state, Karnataka Chief [...]
Hotels see 39% spike in revenue-per-available room in Jan-Mar: JLL India
The revenue per available room (RevPAR) in hotels across six major cities rose by 39.1 per cent year-on-year (YoY) during the January-March quarter with a strong recovery in leisure and business travels, according to JLL India. The company has tracked Delhi, Mumbai, Chennai, Hyderabad, Goa and Bengaluru markets. "All six key markets witnessed RevPAR growth [...]
Multibagger Stocks that turned investors’ money more than 200x In 10 yrs
Warren Buffet says “If you aren’t thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.” The equity markets have provided magnificent returns in the long term. Here are a few stocks that gave multibagger returns in the past 10 years: Company14th May 201212th May 2022Returns (%)Tanla Platforms [...]
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