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Cement stock jumps 9% after Adani Group likely to acquire the company to expand its business
During the Wednesday trading session, the shares of one of the Leading cement companies in India jumped upto 9 percent in the days trade following the speculative reports suggesting a possible acquisition by Adani-led Ambuja Cement. Price action With the market capitalization of Rs.7,928 crores on Wednesday, the shares of Star cements ltd jumped upto [...]
Defence stocks to watch after Modi’s Govt approves defence proposal worth ₹21,772 Cr
The Defence Acquisition Council (DAC) approved five acquisition proposals totaling over Rs 21,772 crore as part of efforts to strengthen defense capabilities. As part of the approval the DAC has given the Acceptance of Necessity (AoN) for various proposals which includes Water Jet Fast Attack Crafts (WJFACs), Electronic Warfare Suites, Radar Warning Systems and Advanced [...]
Drone stock jumps 8% after receiving order from AgroCast Analytics for a drone survey
This microcap Drone company, which is engaged in providing Drone operation training, supply and maintenance services, training services, and management consultancy was up by 8 percent after receiving a new work order from AgroCast Analytics (IIT Gandhinagar) worth Rs. 0.70 crore. Price Movement In Wednesday’s trading session, Droneacharya Aerial Innovations Limited stock was up by [...]
Semiconductor stock jumps 3% after acquiring 54% stake in Kavach Systems company Sensonic GmbH
Semiconductor stock which is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturer jumped upto 3 percent in the day’s trade following the completion of the acquisition of a controlling stake in a foreign-based Kavach Systems operating company. Price Action With a market capitalization of Rs. 39,666 Crores, the shares of Kaynes Technology India Limited [...]
Why did Indigo file a lawsuit against Mahindra & Mahindra? Check the details
Branding is crucial for any company in India as it establishes a unique identity, builds customer trust, and fosters loyalty. A strong brand differentiates a company from competitors, enabling it to attract and retain customers in a competitive market. Effective branding enhances the perception of quality, creating long-term value and increasing profitability. Securing patents or [...]
AI stock in focus after company’s board to consider 2:1 bonus issue
Shares of this micro-cap company, which specializes in telecommunication infrastructure development and related allied services in focus, following the announcement of a board meeting to finalize plans for issuing bonus shares. Price Variation In Wednesday’s session, Kore Digital Limited's share price was down 2 percent to a day’s low of Rs.1,660 per share, from the [...]
Tata Group stock hits 5% upper circuit after acquiring additional land for capacity expansion
Tata Group stock stock engaged in offering engineering, manufacturing, construction, and other EPC services hit a 5 percent upper circuit in the day’s trade following capacity expansion plans. Price Action With a market capitalization of Rs. 673.24 Crores, the shares of Artson Engineering Limited were trading at Rs. 182.30 per equity share, up 1 percent [...]
Auto ancillary stock jumps 8% after announcing production of auto parts for commercial use
This Microcap Auto component stock deals in the manufacturing business and tractor selling and other automotive components, parts, and engineering goods up 8 percent after the announcement of commercial production of New Components. Price Action With a market capitalization of Rs. 460 Crores, the shares of Pritika Auto Industries Limited were up by 8 percent [...]
Navratna stock in focus after company to raise ₹22,906 Cr for capacity expansion
Renewable energy, especially hydro energy, plays a pivotal role in India's journey toward sustainable development. Hydro energy, derived from water, is a reliable and clean power source that contributes significantly to electricity production. With India’s electricity demand surging due to rapid urbanization and industrial growth, the need for sustainable energy solutions is more pressing than [...]
Stock hits 20% upper circuit after receiving order worth ₹147 Cr from Reliance Group
Telecom stock engaged in providing telecom support services and solutions to address Network Survey, Planning, Installation, Commissioning, and many more hits 20 percent upper circuit in the day’s trade upon receiving work order worth Rs. 147 Crores Reliance Jio. Price Action With a market capitalization of Rs. 150 Crores, the shares of Steelman Telecom Limited [...]
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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
Pakistan stock exchange plummets by more than 1,500 points in intraday trading
Depletion of foreign reserves and delay in the resumption of the International Monetary Fund programme affected the Pakistan stock exchange on Monday as it shed nearly 1500 points in intraday trading. The Pakistani currency also lost out against the US dollar which gained flight to sell at 188.05 in the interbank market. Since the cash-strapped [...]
Coal India spends more than Rs 1,600 cr on CSR in last 3 yrs
State-owned Coal India Ltd has spent more than Rs 1,600 crore on corporate social responsibility projects in the last three years, a company release said. The mandated target for expenditure on CSR by Coal India (CIL) during the last three years was Rs 1,284 crore. "During the last three years, CIL has spent more than [...]
Bihar bridge collapse: Gadkari says amazed at IAS officer’s response
Union Minister Nitin Gadkari on Monday said he was amazed at the response of an IAS officer who attributed the collapse of a portion of an under-construction road bridge in Sultanganj to 'strong winds'. A section of an under-construction road bridge over the Ganga at Sultanganj in Bihar collapsed during a thunderstorm on April 29. [...]
HCL Tech to buy digital banking company Confinale
HCL Technologies UK, a subsidiary of IT services company HCL Technologies, has signed a definitive pact for acquisition of Switzerland-based Confinale, a digital banking and wealth management consulting specialist. With this strategic acquisition, HCL will expand its footprint in the global wealth management market with emphasis on Avaloq consulting, implementation and management capabilities, it said [...]
Railways signs MoU with C-DOT for using local gears, cut dependence on foreign technology
The Railways Ministry and the Centre for Development of Telematics (C-DOT) have signed an MoU for developing local digital solutions for railways to reduce its dependence on foreign technology, a top official of the DoT's research unit said on Monday. Under the agreement, C-DoT is expected to replace over Rs 2,100 crore of foreign technology [...]
India’s largest private sector lender HDFC Bank hikes lending rates by 0.25%
Joining its peers that have raised lending rates after the surprise tightening of the monetary policy by the RBI, the country's largest private sector lender HDFC Bank has also upped rates on its offerings by 0.25 per cent. The bank has hiked the marginal cost of funding based lending rate (MCLR) by 0.25 per cent [...]
Sri Lankan Airlines asks passengers to produce tickets, passports to reach airport
Sri Lankan Airlines on Monday urged passengers to produce their air ticket and passport at checkpoints to reach Bandaranaike International Airport (BIA) after authorities imposed nationwide curfew and deployed the Army in Colombo following clashes between pro- and anti-government protesters amidst the political turmoil in the island nation. "In view of the prevailing situation in [...]
Reducing Automotive Air Pollution with Advanced European Emission Control Technology for India
ALCOR CB M&A closes a JV transaction between European Company Autometal and Dewas Hydoquip India to bring in the “State of the Art” Technology for Emission Control Systems to India and Asian Markets. Autometal, a European company is bringing in the latest technology for emission control by partnering with an Indian company Dewas Hydroquip from [...]
Debt Mutual Funds see Rs 1.2 lakh cr outflow in March qtr
Mutual funds focused on investing in fixed-income securities saw an outflow of Rs 1.2 crore in the March 2022 quarter on massive withdrawal from segments, such as liquid, short duration, and corporate bond funds, a report by Morningstar India said on Monday. This has taken the net outflow from the category to Rs 68,471 crore [...]
BULLION CLOSING RATE
BULLION CLOSING RATE MUMBAI, MAY 6 (PTI) MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 62,352.00 61,361.00 STANDARD GOLD (99.5) : 51,492.00 51,273.00 PURE GOLD (99.9) : 51,699.00 51,479.00 ---------------- PTI MUM SSB SSB SSB
Govt to meet cab aggregators on Tuesday amid rise in consumer complaints
The government has called a meeting of cab aggregators like Ola and Uber on Tuesday to discuss their policies related to fare calculation, surge pricing, ride cancellations and measures taken by them for data protection of customers, Consumer Affairs Secretary Rohit Kumar Singh said on Monday. The meeting has been called amid rise in consumer [...]
Sensex extends losses amid global weakness; RIL tumbles post Q4 show
Equity benchmarks began the week on a downbeat note on Monday, weighed by heavy selling in market heavyweight Reliance Industries and persisting weakness in global bourses. The rupee plunged to its lifetime low against the US dollar amid unabated foreign fund outflows, underscoring the risk-off sentiment prevailing globally as central banks embark on policy tightening [...]
Reliance Brands signs franchise agreement with Italian luxury shoemaker Tod’s
Reliance Brands Ltd (RBL) on Monday said it has entered into a long-term franchise agreement with Tod’s SpA to become the official retailer of the Italian luxury lifestyle brand for the Indian market. As per the agreement, RBL is the official retailer of the brand across all categories, including footwear, handbags and accessories in the [...]
BLS International Q4 Results: Profit after tax up 53% at Rs 35.2 cr
BLS International on Monday reported a 53 per cent growth in profit after tax (PAT) to Rs 35.2 crore for the quarter ended in March 2022 compared to the year-ago period. The company's PAT stood at Rs 23 crore during the corresponding quarter of 2020-21, BLS International said in a statement. Operational revenue grew by [...]
Premas Biotech Announces Appointment of Saumen Chakraborty to Board of Directors
Gurugram, Haryana, India – Business Wire India Premas Biotech today announced the appointment of Saumen Chakraborty to the Premas Biotech Board of Directors, effective April 29 2022. “We are pleased to welcome Saumen Chakraborty to the Premas Biotech Board,” said Mr Avijit Das, Founder Chairman, Premas Biotech. “Saumen’s deep experience in global Pharma businesses with [...]
Reliance to clock USD 20 bn EBITDA by end 2022: Morgan Stanley
A refining golden age, tightening global gas markets and improving telecom subscriber quality point to a USD 20 billion-plus EBITDA run rate for Reliance Industries Ltd by end-2022, Morgan Stanley said Monday. Post becoming the first company to hit USD 100 billion revenue in the fiscal year ended March 31, "Reliance is on a path [...]
Blocktickets, NFT and Blockchain Ticketing Platform Enters Indian Market
Blockchain, cryptocurrency, and Non-fungible Tokens (NFTs) have captivated everyone in the last few years. Blocktickets, a company working in the space of blockchain, and transformative technology has launched a multi chain NFT based ticketing platform rewarding all stakeholders, a one of its kind platform. Blocktickets has now entered the Indian market and is looking to [...]
Mylab appoints Rajesh Patel as executive director IVD biz
Biotech company Mylab Discovery Solutions on Monday said it has appointed Rajesh Patel as the Executive Director of the in-vitro diagnostics (IVD) business. In this role, Patel will be responsible for spearheading the IVD testing equipment and reagent business at Mylab by setting up production units, overseeing the related research and development and the launch [...]
ED’s probe on Xiaomi: China calls for fair & non-discriminatory environment for its firms in India
China on Monday expressed hope that India will provide a "fair, just and non-discriminatory environment" to its companies as it reacted guardedly to reports of top executives of Chinese smartphone maker Xiaomi faced a probe by the Enforcement Directorate regarding its remittances abroad. “China is closely following the situation,” Chinese Foreign Ministry spokesman Zhao Lijian [...]
NCLT orders insolvency proceedings against Birla Tyres
The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency proceedings against Birla Tyres Ltd in a case filed by multi-business chemicals firm SRF Ltd, an operational creditor of the BK Birla group firm. A two-member Kolkata bench of the NCLT has also appointed Seikh Abdul Salam as Interim Resolution Professional (IRP) to [...]
Campus Activewear shares jump nearly 30% in debut trade
Shares of athleisure footwear company Campus Activewear Ltd made a healthy market debut on Monday and jumped nearly 30 per cent against the issue price of Rs 292. The stock listed at Rs 355, registering a premium of 21.57 per cent, against the issue price on the BSE. During the day, it zoomed 43 per [...]
Goyal seeks states’ consensus for decriminalising offences under metrology law
Food and consumer affairs minister Piyush Goyal on Monday stressed on simplification and decriminalisation of offences under the Legal Metrology Act, 2009 for ease of doing business and asked states to come to a consensus on this issue so that a draft could be put in public domain for feedbacks from all stakeholders. He mentioned [...]
Abbott launches solution to detect Hepatitis B virus
Healthcare major Abbott on Monday said it has launched a test that will help in early detection of Hepatitis B virus (HBV) in human serum and plasma samples. The company has introduced HBsAg Next Qualitative solution to help improve patient outcomes while maintaining safe blood supplies. This highly sensitive chemiluminescent microparticle immuno assay (CMIA) assists [...]
COMMODITY PRICES
COMMODITY PRICES MUMBAI, MAY 9 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST. COPPER :- COPPER CABEL SCRAP (BERRY) 758.00 COPPER HEAVY SCRAPS 752.00 COPPER ARMATURE (CREDIT) 740.00 COPPER UTENSILS SCRAP 680.00 CC ROD 775.00 CC ROD (RECYCLED) 763.00 BRASS :- BRASS SHEET CUTTING 568.00 BRASS UTENSIL SCRAP 520.00 BRASS HONEY 500.00 ALUMINIUM :- ALUMINIUM UTENSIL [...]
India initiates anti-dumping probe against imports of optical fibre from China, Indonesia, Korea
India has initiated an anti-dumping probe against imports of a certain type of optical fibre from China, Indonesia and South Korea following a complaint by a domestic player. The duty is aimed at protecting domestic industry from cheap imports. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) is probing the alleged dumping [...]
Suven Pharma Q4 Results: Consolidated profit after tax up 11% to Rs 92 cr
Suven Pharmaceuticals on Monday said its consolidated profit after tax has increased by 11 per cent to Rs 92 crore for the fourth quarter ended March. The company had reported a profit after tax (PAT) of Rs 83 crore in the January-March quarter of 2020-21 fiscal. Revenue from operations rose to Rs 364 crore in [...]
EV fire incidents: Niti Aayog member says imported cells ‘may not be’ suitable for Indian conditions
Amid multiple incidents of electric vehicles catching fire, Niti Aayog Member and eminent scientist V K Saraswat has said that battery cells imported for electric vehicles "may not be" suitable for the country's conditions and emphasised the need for locally manufacturing the cells. His comments also come against the backdrop of authorities probing such incidents [...]
PEPPER COPRA CLOSING RATE
MUMBAI, MAY 9 (PTI) Mumbai :- PEPPER COPRA RATES :- BLACK PEPPER READY 560 / 620 GINGER BLEACHED -- GINGER UNBLEACHED 155 COPRA OFFICE ALAPUZHA 95000 COPRA OFFICE KOZIZODE 93000 COPRA RAJAPUR MUMBAI 18000 COPRA EDIBLE MUMBAI 13000 COCHIN COCONUT OIL ---- COCONUT OIL MUMBAI 1850 T.P --------------- PTI MUM SSB SSB SSB
Ind-Ra revises up commercial realty outlook for FY23
Domestic ratings agency India Ratings on Monday revised up its outlook on the commercial realty for FY23, saying the full resumption in the economic activities can revive demand for the sector. The outlook has been raised to "improving" for FY23, from "neutral" in FY22, anticipating an improvement in performance, the agency said. It said the [...]
Bank of Maharashtra, Karur Vysya raise lending rates across tenors
State-owned Bank of Maharashtra on Monday said it has raised the marginal cost of funding based lending rate (MCLR) across tenors by 0.15 per cent. Meanwhile, Karur Vysya Bank also announced that it has revised the external benchmark rate to 7.45 per cent from 7.15 per cent. This is to inform that the bank has [...]
Etsy inks pact with NEHHDC to support small, traditional artisans from North East
Etsy, which positions itself as global marketplace for 'unique and creative' goods, has partnered with the North Eastern Handicrafts and Handloom Development Corporation (NEHHDC) to support small sellers, weavers and artisans, with market access and enablement support. Under the memorandum of understanding (MoU), Etsy will work with the NEHHDC to develop enablement programmes specifically tailored [...]
Yatra sees 90% pre-Covid level hotel bookings
Online travel services provider Yatra on Monday said it has reached 90 per cent of pre-Covid level hotel bookings and the upswing continues with the return of travel normalcy following relaxation of pandemic-related restrictions and the recent restarting of scheduled international flights after two years. The arrival of the summer travel season coupled with the [...]
OILSEEDS PRICES
MAY 9, 2022 MUMBAI, (PTI) OILS (per 10 Kgs) G.Nut Raw 1640.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1800.00 Sunflower Exp.Ref. 1870.00 Cottonseed(Refined) 1635.00 Refined Palm Oil 1560.00 Soyabean Ref. 1570.00 Imp.Soyabean Crude - Rapeseed Ref. 1580.00 Rapeseed Exp. 1550.00 Copra white 1520.00 Rice Bran 4-7% FFA - Rice Bran 1420.00 Linseed 1580.00 [...]
Inox Green Energy board approves proposal to raise Rs 900 cr via IPO
Inox wind arm Inox Green Energy Services' board on Monday approved a proposal to raise Rs 900 crore through an initial public offer (IPO). The proposed IPO will comprise fresh issuance of equity shares aggregating up to Rs 500 crore and an offer for sale (OFS) of equity shares by certain shareholders to the tune [...]
UPL settles case with Sebi; pays Rs 19.5 lakh
UPL Ltd has settled with the capital markets regulator Sebi a case pertaining to alleged failure to modify the terms of appointment of the auditor of its subsidiary. The company settled the proceedings initiated against it after paying Rs 19.5 lakh towards settlement charges. "The instant adjudication proceedings initiated against the noticee (UPL) vide SCN [...]
SC stays proceedings before HCs in matters involving challenges to IT Rules
The Supreme Court Monday stayed further proceedings before the high courts in matters involving challenges to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules 2021 or Cable TV Networks (Amendment) Rules 2021. A bench of Justices A M Khanwilkar and A S Oka passed the order while hearing a batch of petitions, [...]
SLK Software names Ajay Kumar as CEO
Technology services provider SLK Software, on Monday announced the appointment of Ajay Kumar as its Chief Executive Officer. Kumar previously held the role of President and Chief Business Officer at SLK Software, the company said in a statement. An alumnus of IIM Bangalore, he brings two decades of experience in leading P&L (profit and loss) [...]
NEWSALERT
SC stays further proceedings before high courts on pleas involving challenge to IT Rules or Cable TV Networks (Amendment) Rules.PTI ABA ABA RKS RKS
Central Bank of India Q4 Results: Standalone net profit at Rs 310 cr; FY22 net profit at Rs 1,045 cr
State-owned Central Bank of India on Monday reported a standalone net profit of Rs 310 crore in quarter ended March 2022, on the back of less provisioning for bad loans. The lender had posted a net loss of Rs 1,349 crore in the same quarter a year-ago. Total income during Q4 of FY22 rose to [...]
Steel prices may fall to Rs 60,000/tonne by March: Report
Steel prices, which have been on a song for the past two years, are finally set to correct on weak seasonality, and may trade at around Rs 60,000/tonne by the end of the current fiscal year, down from the Rs 76,000/tonne peak it scaled last month, says a report. Prices are still holding high because [...]
Lanka crisis: PM Mahinda urges people to exercise restraint; says violence only begets violence
Sri Lankan Prime Minister Mahinda Rajapaksa on Monday appealed to the people to exercise restraint and remember that violence only begets violence, saying the economic crisis needs an economic solution which his government is committed to resolving. His statement came amidst violence in the country in which at least 16 people were injured as supporters [...]
Rakesh Jhunjhunwala Portfolio stock drops 23% in a month; Is it a good BUY?
Ace Investor Rakesh Jhunjhunwala holds 2.5 Crore shares with holdings worth ₹ 246.5 Crores as per March 2022 data. This translates to a 1.5% stake. The share price of this company has dropped by 23.30% in the past month. The Jhunjhunwalas collectively held 5 crore shares or a 2.72% stake in the company till the [...]
Guar seed futures decline amid ample supplies
New Delhi, May 9 (PTI) Guar seed prices on Monday declined by Rs 14 to Rs 6,056 per 10 quintals in the futures trade amid increasing supplies from producing regions. On the National Commodity and Derivatives Exchange, guar seed contracts for May delivery fell by Rs 14 or 0.23 per cent to Rs 6,056 per [...]
Guar gum futures ease on low demand
New Delhi, May 9 (PTI) Guar gum prices on Monday fell by Rs 100 to Rs 11,750 per five quintals in the futures market as traders offloaded their holdings in line with weak trend in spot market. On the National Commodity and Derivatives Exchange, guar gum for May delivery declined by Rs 100 or 0.85 [...]
Crude oil futures decline on low demand
New Delhi, May 9 (PTI) Crude oil futures on Monday dropped by 0.44 per cent to Rs 8,410 per barrel as participants trimmed their positions on low demand. On the Multi Commodity Exchange, crude oil for May delivery fell by Rs 37 or 0.44 per cent to Rs 8,410 per barrel with a business volume [...]
L&T bags order from Jharkhand government
Engineering major Larsen & Toubro (L&T) on Monday said it has bagged a significant project from Jharkhand government for irrigation. The project envisages to provide water to irrigate 22,283 hectare of Culturable Command Area (CCA) in Dumka district of Jharkhand by way of pumping water from the Sidheshwari river. The scope includes survey, design, and [...]
Bangladesh extends currency swap facility to boost Sri Lanka’s depleting foreign reserves
In a friendly gesture, Bangladesh has extended the term of the USD 200 million loans given to cash-strapped Sri Lanka under a currency swap deal by one more year to boost the island-nation's depleting foreign reserves. In May 2021, Bangladesh cleared a USD 200 million currency swap facility for Sri Lanka, to help boost its [...]
Ruchira Green Earth eyes Rs 500 cr revenue by 2025
Lithium-ion batteries maker Ruchira Green Earth on Monday said it is eyeing Rs 500-crore revenue by 2025, driven by pent-up demand for such batteries in the fast growing domestic EV space. The company also said it is looking to tap into battery swapping and replacement markets apart from large Energy Storage System (ESS) applications in [...]
MG Motor India crosses 1 lakh cumulative sales mark since launch
MG Motor India on Monday said it has crossed 1 lakh cumulative sales milestones in the country since the launch of its first vehicle nearly three years ago. The company, which started selling its vehicles in India with the launch of Hector SUV in June 2019, currently has a portfolio including the electric SUV, ZS [...]
Black Box India’ Partnership with Juniper Networks Elevated to Elite Plus
MUMBAI, India, May 9, 2022 /PRNewswire/ -- Black Box Limited (formerly AGC Networks Ltd), (BSE: BBOX) and (NSE: BBOX), a trusted IT solutions provider today announced that its partnership with Juniper Networks, a leader in secure, AI-driven networks, has been elevated to the highest level of Elite Plus. For the customers, this partnership translates into [...]
LIC IPO: QIB portion fully subscribed on last day, Overall subscription at little over 2 times
Shares reserved for Qualified Institutional Buyers (QIB), including banks and mutual funds in the LIC's public offer were subscribed fully on Monday morning, taking the overall subscription of the issue to a little over 2 times. Against 3,95,31,236 reserved, 4,61,62,185 bids were received, reflecting a subscription of 1.17 times, according to data posted on stock [...]
Capricot Technologies is now a part of VinZero
NEW DELHI, May 9, 2022 /PRNewswire/ -- Having worked together for the past few years under a Global Alliance agreement, Capricot India, A2K Technologies and Cloud A2K ANZ, U.S. CAD The Americas and Cadline EMEA and UK, today announce the formalization of this brand partnership as VinZero. The formalization and formation of VinZero is driven [...]
OMC Power signs Agreement with IREDA to Facilitate its Clean Energy Growth Journey
Gurgaon, Haryana, India (NewsVoir) OMC Power is delighted to announce a long-term relationship agreement with the Indian Renewable Energy Dev Agency Ltd. (IREDA) towards building a Rural renewable energy ecosystem. In a welcome move by the IREDA, OMC will be getting economic support for setting up Renewable energy plants to provide sustainable energy in the [...]
What is happening with DMART? Share price down more than 11% in last 3 sessions
The share prices of Avenue Supermarts Ltd (DMart) plummeted 11.60% in the past three days. This happened after oil hoarding was caught in Ujjain’s DMart. The store had three times the permitted amount that can be stocked. As per the district supply officer, the stock limit of oil is a maximum of 30 quintals. However, [...]
MUM BULLION OPENING RATES
MUMBAI, MAY 9 (PTI) MUMBAI BULLION OPENING RATES:- OPENING RATES SILVER SPOT (IN RS PER KILO) : 62352.00 STANDARD GOLD (99.5) : 51492.00 PURE GOLD (99.9) : 51699.00 ------------ PTI MUMSVC SVC
Adani Airport Holdings raises USD 250 mn
Adani Airport Holdings Ltd (AAHL) on Monday said it has raised USD 250 million through a 3-year ECB facility from a consortium of Standard Chartered Bank (SCB) and Barclays Bank PLC. The facility has an option to raise additional USD 200 million. The freshly raised capital will be used for capital expenditure and development of [...]
SBI-DIRECT EXCHANGE RATES
MUMBAI, MAY 9 (PTI) FOLLOWING ARE THE DIRECT RATES OF EXCHANGE (DPE) AS ANNOUNCED BY THE STATE BANK OF INDIA HERE TODAY. ( ALL RATES IN RUPEES PER UNIT ).CURRENCY CODE TTBUY TTSEL BILLBUY TTSEL USD/INR 76.65 78.15 76.58 78.32 EUR/INR 79.98 82.77 79.91 82.94 GBP/INR 93.63 96.68 93.54 96.88 JPY/INR 58.19 60.03 58.14 60.15 [...]
MUM PEPPER COPRA OPENING RATES
MUMBAI, MAY 9 (PTI) Mumbai :- PEPPER COPRA RATES :- BLACK PEPPER READY 560 / 620 GINGER BLEACHED -- GINGER UNBLEACHED 155 COPRA OFFICE ALAPUZHA 95000 COPRA OFFICE KOZIZODE 93000 COPRA RAJAPUR MUMBAI 18000 COPRA EDIBLE MUMBAI 13000 COCHIN COCONUT OIL ---- COCONUT OIL MUMBAI 1850 T.P --------------- PTI MUM SVC SVC
Campus Activewear shares debut with over 23% premium
Shares of athleisure footwear company Campus Activewear Ltd made a healthy market debut on Monday, jumping over 23 per cent, against the issue price of Rs 292. The stock listed at Rs 355, registering a premium of 21.57 per cent, against the issue price on the BSE. It further zoomed 26 per cent to Rs [...]
RBI-MONEY MARKET OPERATIONS
MUMBAI, May 9 (PTI) Money Market Operations as on MAY 6, 2022 (Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume Weighted (One Leg) Average Rate RANGE . Overnight Segment 3,165.74 4.00 3.20-6.10 I. Call Money 420.74 3.57 3.20-4.25 II. Triparty Repo 2,720.00 4.04 3.50-4.15 III. Market Repo 0.00 - - IV. Repo [...]
Foreign funds’ ownership in domestic equities falls to 19.5%, lowest since Mar ’19
Foreign funds' ownership in domestic equities fell to pre-COVID lows and hit a multi-year low of 19.5 per cent in March this year in NSE500 companies valued at USD 619 billion, shows an analysis. At 19.5 per cent the FPI ownership in March 2022, is the lowest in the past three years, when it was [...]
Centre convenes meeting to discuss cap on raw jute price: Sources
Kolkata, May 8 (PTI) The Union Textile Ministry has convened a meeting on Monday in New Delhi to discuss the price capping of raw jute, where officials of the West Bengal Labour Department, the Indian Jute Mills Association as well as the Jute Commissioner would be present, industry sources said.The development comes after BJP MP [...]
Jet Airways a step closer to relaunch, gets security clearance from home ministry
New Delhi, May 8 (PTI) The Union home ministry has granted security clearance to Jet Airways that is planning to relaunch commercial flight operations in the next few months, according to an official document. The Jalan-Kalrock Consortium is currently the promoter of Jet Airways. The airline in its old avatar was owned by Naresh Goyal [...]
Reliance expects gas prices to rise again in Oct
Reliance Industries Ltd expects prices of natural gas in India torise again in October as its gas exploration business reaps the rewards of a global surge in energy prices that have already pushed the rates to a record high. The conglomerate, controlled by billionaire Mukesh Ambani, expects the price cap for its KG-D6 gas sales [...]
SJVN wins most efficient and profitable miniratna of the year award
New Delhi, May 8 (PTI) State-owned SJVN Ltd, which is mulling Rs 1.8 lakh crore investment in next decade, has bagged the 'Most Efficient & Profitable Miniratna of the Year' award. Dalal Street Investment Journal (DSIJ) has conferred the award to SJVN for playing a crucial role in economic growth of the nation, a statement [...]
APEDA promoting exports of tissue culture plants
New Delhi, May 8 (PTI) To promote exports of tissue culture plants, the Agricultural and Processed Food Products Export Development Authority (APEDA) conducted a webinar, the commerce ministry said on Sunday. The top ten countries importing tissue culture plants from India are the Netherlands, the US, Italy, Australia, Canada, Japan, Kenya, Senegal, Ethiopia and Nepal. [...]
Haryana attracted investment of Rs 28,000 cr past year: Dushyant Chautala
Chandigarh, May 8 (PTI) Asserting that the state offers a congenial environment for businesses to flourish, Haryana's Deputy Chief Minister Dushyant Chautala on Sunday said that the state attracted investments worth Rs 28,000 crore in the past 12 months. Chautala, who also holds Industries and Commerce, Excise and Taxation and Civil Aviation portfolios, said a [...]
Pushp Kumar Joshi takes over as CMD of HPCL
New Delhi, May 8 (PTI) Pushp Kumar Joshi on Sunday took over as the new chairman and managing director of India's third largest oil refining and fuel marketing company Hindustan Petroleum Corporation Ltd (HPCL). "Prior to this Dr Joshi was Director-HR of the Corporation from August 01, 2012," the company said in a statement. Joshi, [...]
DoT abolishes NOCC charges for all telecom licence holders
New Delhi, May 8 (PTI) To enhance ease of doing business, the Department of Telecom has removed network operation and control centre charges for the use of space segments for all services like VSAT, satellite telephony etc for which permits are issued by the department. The DoT earlier levied Rs 21 lakh per transponder per [...]
Weekly Market Recap: RBI’s Surprise, Upstox beats Zerodha, Q4 Results, LIC IPO and more!
The Indian equity benchmarks, the NSE Nifty and the BSE Sensex plummeted tracking a global sell-off after The Bank of England and the US Fed hiked interest rates. The RBI too hiked interest rates and increased the cash reserve ratio. All sectors on the NSE were deep in the red, dragged by financial, IT and [...]
HC verdict on GST on under-construction flats to reduce tax outgo for buyers: Experts
New Delhi, May 8 (PTI) The Gujarat High Court ruling that actual value of land should be deducted before levying GST on under-construction flats would reduce the tax outgo for homebuyers, provided the contractual arrangement transparently denotes the land value, experts said. Currently, GST is levied on sale of under-construction flats/units wherein the entire value [...]
Shanthi Gears reports 29.72% jump in Q4 net at Rs 12.22 cr
Chennai, May 8 (PTI) Gear and gear products manufacturer Shanthi Gears Ltd has reported a 29.72 per cent rise in its profit for the quarter ending March 31, 2022 at Rs 12.22 crore, the company said on Sunday. The Tamil Nadu-based company and a group firm of diversified conglomerate Murugappa Group had registered net profits [...]
Govt to invite financial bids for SCI sale by Sept; Shipping House, MTI to be hived off
New Delhi, May 8 (PTI) The government is likely to invite financial bids for Shipping Corporation of India by September, after the process of demerger of non-core assets is completed, an official said. As part of the strategic-sale process, the government is hiving off Shipping House and the training institute and some other non-core assets [...]
Poonawalla woos Musk to invest in making Tesla cars in India
New Delhi, May 8 (PTI) Serum Institute of India (SII) CEO Adar Poonawalla on Sunday wooed Elon Musk to invest in India to manufacture Tesla electric cars, saying it will be the best investment he would have ever made. Musk, who has made a successful USD 44 billion acquisition bid for Twitter, had in the [...]
UAE Minister of Economy to lead high-level biz delegation to India this week
New Delhi, May 8 (PTI) UAE Minister of Economy Abdulla bin Touq Al Marri will be leading a high-level business delegation to India this week to discuss ways to further promote trade and investments between the two countries, an official said. The visit, from May 11-15, assumes significance as both the countries have implemented the Comprehensive [...]
Govt to invite financial bids for SCI sale by Sept; Shipping House, MTI to be hived off
New Delhi, May 8 (PTI) The government is likely to invite financial bids for Shipping Corporation of India by September, after the process of demerger of non-core assets is completed, an official said. As part of the strategic-sale process, the government is hiving off Shipping House and the training institute in Pune and some other [...]
Rate hike wasn’t surprising, timing was: FM Sitharaman
Finance Minister Nirmala Sitharaman has said the recent interest rate hike by the Reserve Bank was not surprising for her but the timing was, asserting that the rising cost of funds will not impact the government's planned infrastructure investments. For the first time since August 2018, RBI had on May 4 delivered a blunt 40 [...]
Future Enterprises to raise Rs 3,000 cr from insurance biz sale; aims to pare debt, avoid insolvency
New Delhi, May 8 (PTI) Debt-ridden Future Group firm Future Enterprises Ltd expects to raise around Rs 3,000 crore from selling its stake in the insurance business to pare debt, which may save the company from facing the rigour of the insolvency process, according to industry sources. Earlier on Thursday, Future Enterprises Ltd completed the [...]
Graymatics mulls opening additional development centre in India
New Delhi, May 8 (PTI) CCTV-based video analytics solutions company, Graymatics, is exploring opening an additional development centre in India, a market it considers to be a "nerve centre" for its growing operations, according to a top company official. The company has a development centre in Bengaluru, although it has provided employees with flexibility to [...]
Tata steel to grow organically, new acquisitions unlikely this decade: MD
Kolkata, May 7 (PTI) Tata Steel Ltd will look to grow organically, and the steel giant is under “no pressure” to look at fresh acquisitions during this decade, Chief Executive Officer and Managing Director T V Narendran said. Narendran said that the Jamshedpur-based behemoth will fuel its growth ambitions to more than double its output, [...]
Public sector general insurers may get capital infusion of Rs 3,000-5,000 cr
The government may infuse Rs 3,000-5,000 crore additional capital in the three public sector general insurance companies based on their performance and requirement during the year, sources said. The capital infusion would help improve the financial health of the general insurance firms -- National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance [...]
AAI partners with self help groups for sale of locally-developed products at airports
New Delhi, May 8 (PTI) In efforts to help artisans, Airports Authority of India (AAI) has started providing space for self help groups at various airports to sell their locally-developed products. Self Help Groups (SHGs) are already showcasing their products at 12 airports, including at Agartala, Kushinagar, Udaipur and Madurai, under the AVSAR (Airport as [...]
Cost accountants’ institute asks govt to allow members to conduct financial audits of MSMEs
New Delhi, May 8 (PTI) The cost accountants' institute has requested the government to consider allowing cost and management accountants to conduct financial audit of MSMEs and private limited companies. The Institute of Cost Accountants of India, set up under an Act of Parliament, has around 90,000 members and about 5 lakh students. Seeking to [...]
UAE Minister of Economy to lead high-level biz delegation to India this week
New Delhi, May 8 (PTI) UAE Minister of Economy Abdulla bin Touq Al Marri will be leading a high-level business delegation to India this week to discuss ways to further promote trade and investments between the two countries, an official said. The visit, from May 11-15, assumes significance as both the countries have implemented the Comprehensive [...]
HUL expects more sequential inflation, challenging operating environment in near term
New Delhi, May 8 (PTI) FMCG major HUL expects the operating environment to remain challenging in the near term as inflation is likely to continue for the next few quarters. In order to overcome the challenge, the company is adopting a 'bridge pack strategy', under which it will introduce products packs priced between the existing [...]
HUL expects more sequential inflation, challenging operating environment in near term
New Delhi, May 8 (PTI) FMCG major HUL expects the operating environment to remain challenging in the near term as inflation is likely to continue for the next few quarters. In order to overcome the challenge, the company is adopting a 'bridge pack strategy', under which it will introduce products packs priced between the existing [...]
HUL expects more sequential inflation, challenging operating environment in near term
New Delhi, May 8 (PTI) FMCG major HUL expects the operating environment to remain challenging in the near term as inflation is likely to continue for the next few quarters. In order to overcome the challenge, the company is adopting a 'bridge pack strategy', under which it will introduce products packs priced between the existing [...]
HUL expects more sequential inflation, challenging operating environment in near term
New Delhi, May 8 (PTI) FMCG major HUL expects the operating environment to remain challenging in the near term as inflation is likely to continue for the next few quarters. In order to overcome the challenge, the company is adopting a 'bridge pack strategy', under which it will introduce products packs priced between the existing [...]
HUL expects more sequential inflation, challenging operating environment in near term
New Delhi, May 8 (PTI) FMCG major HUL expects the operating environment to remain challenging in the near term as inflation is likely to continue for the next few quarters. In order to overcome the challenge, the company is adopting a 'bridge pack strategy', under which it will introduce products packs priced between the existing [...]
HUL expects more sequential inflation, challenging operating environment in near term
New Delhi, May 8 (PTI) FMCG major HUL expects the operating environment to remain challenging in the near term as inflation is likely to continue for the next few quarters. In order to overcome the challenge, the company is adopting a 'bridge pack strategy', under which it will introduce products packs priced between the existing [...]
cargo-partner looks to increase turnover to Rs 1,500 cr in next 3 yrs
New Delhi, May 8 (PTI) Logistics firm cargo-partner on Sunday said it looks to increase its turnover to Rs 1,500 crore over the next three years as it has framed a three-pronged strategy, including expansion of its warehousing business, to drive growth. With the e-commerce market growing at a very fast pace, the company plans [...]
Commercial vehicle industry to see double-digit growth this fiscal: Tata Motors’ Girish Wagh
New Delhi, May 8 (PTI) The commercial vehicle industry is expected to grow in double-digits this fiscal, driven by favourable demand conditions amid accelerated economic activities, although high fuel prices and increase in interest rates on vehicle loans are headwinds, according to Tata Motors Executive Director Girish Wagh. The commercial vehicles segment, which saw its [...]
Lower taxes on hybrid cars can help faster adoption of EVs in India: Honda
New Delhi, May 8 (PTI) Lowering taxes on hybrid vehicles can lead to faster adoption of electric vehicles in the country, according to a senior official of Honda Cars India Ltd (HCIL). The automaker noted that hybrid technology is currently best suited for Indian conditions as it is not dependent on external charging infrastructure. The [...]
Global factors, macro data, earnings to drive market trends this week: Analysts
Global markets trends, inflation, release of industrial output data and quarterly earnings will dictate movement of the equity benchmarks this week, analysts said, adding that volatility might continue amid slew of announcements of macroeconomic data at the global level too. Moreover, foreign fund movement, crude oil prices and trend in rupee would also act as [...]
LPG price hike part of global phenomenon, govt working to find solution: Goa CM’s wife
Panaji, May 8 (PTI) Goa Chief Minister Pramod Sawant's wife Sulakshana Sawant has said the rise in LPG cylinder prices in not restricted to the state, but is part of a global phenomenon, and expressed confidence that the government will work out some solution soon. Talking to reporters on Saturday, she said the state government [...]
Indian Bank raises lending rate by 40 bps
New Delhi, May 7 (PTI) State-owned Indian Bank on Saturday said it has revised the repo linked lending rate from 4 per cent to 4.40 per cent with effect from May 9. The move comes after a number of banks raised their external benchmark based lending rates following an increase of 0.40 per cent in [...]
No decision yet to close a large number of branches this fiscal: Central Bank of India
New Delhi, May 7 (PTI) The state-run Central Bank of India on Saturday said there was no decision yet to close a large number of branches during the current fiscal year. However, it is a routine practice to realign or shift branches, it added. "We hereby inform that there is no decision as of now [...]
Indian Bank raises lending rate by 40 bps
New Delhi, May 7 (PTI) State-owned Indian Bank on Saturday said it has revised the repo linked lending rate from 4 per cent to 4.40 per cent with effect from Monday. The move comes after a number of banks raised their external benchmark based lending rates following an increase of 0.40 per cent in the [...]
Karnataka to acquire 50,000 acres of land for industries ahead of Global Investors Meet in November
Bengaluru, May 7 (PTI) In an effort to allot land in quick time to industrialists who come forward to set up industries, the Karnataka government will acquire over 50,000 acres of land across the state, Large and Medium Industries Minister Dr Murugesh Nirani announced on Saturday after inaugurating the India Manufacturing Show 2022: Curtain Raiser [...]
Bring latest tech to India before launch elsewhere, Karnataka CM tells Toyota
Bengaluru, May 7 (PTI) Karnataka Chief Minister Basavaraj Bommai on Saturday called upon Toyota Kirloskar Motor to bring latest technology to India that is not launched anywhere else in the world. “Please use new technology, which is not launched anywhere in the world. Don’t bring oldies and show them as a new model. My engineering [...]
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