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IT stock to buy now for an upside of more than 40%; Do you own it?
The company is a global technology leader offering software solutions designed to drive mobility towards an autonomous, clean, smart, and connected future. With 13000+ Automobelievers across the globe, specializing in embedded software, AI & Digital solutions, KPIT enables customers to accelerate the implementation of next-generation mobility technologies. With development centers in Europe, the USA, Japan, [...]
Pharma stocks to benefit as glaucoma drug market grows to $12 Billion
Glaucoma is a progressive eye condition caused by damage to the optic nerve, often due to increased intraocular pressure (IOP). It is a leading cause of irreversible blindness worldwide. The disease develops when fluid in the eye, known as aqueous humor, fails to drain properly, leading to pressure buildup. This pressure damages the optic nerve, [...]
Why is it important for AGS transact and CMS Info systems to diversify its business?
India is rapidly transitioning from cash-based transactions to a digitized payment ecosystem, driven by government initiatives, technological advancements, and consumer preferences for convenience. This shift is fueled by the rise of the Unified Payments Interface (UPI), mobile wallets, and card-based payments, fostering financial inclusion and transparency. Companies like CMS Info Systems and AGS Transact Technologies [...]
Navratna stock in focus after it receives construction project worth ₹213 Cr in Delhi
During the Tuesday trading session, the shares of one of the infrastructure developers and operators in India almost surges 1.35 percent after receiving work order worth Rs.213 Crores from the Motilal Nehru college from New Delhi. Price action With the market capitalization of 26,551Cr on Tuesday, the shares of National Buildings Construction Corporation Ltd jumped [...]
Maharatna stock jumps after it plans to develop transmission system in Gujarat
The renewable energy sector continues to demonstrate remarkable growth and strategic expansion. Recent developments highlight the increasing focus on transmission infrastructure to support the growing clean energy landscape. A leading power finance and consulting company has taken a significant step by establishing a new subsidiary dedicated to developing critical transmission capabilities. This strategic move aims [...]
Ashish Kacholia stock jumps 3% after receiving order worth ₹255 Cr from HPCL
Ashish Kacholia primarily engaged in the business of manufacturing, trading, and logistics of Petrochemicals, Liquefied Petroleum Gas, and many others jumped upto 5 percent in the day’s trade upon receiving work order worth Rs. 255 Crores from HPCL. Price Action With a market capitalization of Rs. 1,825 Crores, the shares of Agarwal Industrial Corporation Limited [...]
Auto ancillary stock jumps 6% after it acquires Sundaram Auto Components for ₹215 Cr
A significant strategic move is set to reshape the automotive component landscape. This auto company recently made an acquisition, which marks a pivotal moment for expanding its industrial footprint and technological capabilities. The transaction, valued at ₹215.3 crore, promises to substantially enhance the company's consolidated revenue and market positioning. By strategically integrating a specialised injection [...]
Metal stocks jump after Govt. proposes 25% increase in import duty; Do you hold any?
The Indian metal and steel sector is a cornerstone of the country's economy, playing a pivotal role in infrastructure development, manufacturing, and exports. As the world’s second-largest steel producer, India has positioned itself as a key player in the global market. With a robust production capacity and cost-efficient manufacturing, India exports steel to over 100 [...]
Pharma stock jumps 10% after it partners with Clarity Pharma to launch its products in UK market
During the Tuesday trading session, the shares of one of the Leading pharmaceuticals company in India jumped upto 9.5 percent in the days trade upon strategic collaboration with Clarity Pharma, UK, to launch over 20 new products. Price action With the market capitalization of Rs.2968 crores on Tuesday, the shares of Indoco Remedies ltd jumped [...]
Stocks to be affected after Govt increases GST by 25% on tobacco and aerated beverages
In India, rising health concerns and the financial burden of non-communicable diseases linked to products such as tobacco, alcohol, sugary beverages, and gambling-related activities have fueled the need for such a tax. By imposing higher GST rates on sin activities, the government aims to address social and health-related issues while strengthening fiscal resources. This move [...]
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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
Agriculture production dept restructured for welfare of farmers in J-K: official
Jammu, May 7 (PTI) The Jammu and Kashmir administration on Saturday restructured the agriculture production department with the aim of doubling income of farmers, orchardists and people dependent on animal, sheep husbandry and fisheries for their livelihood. Around 70 per cent of population is dependent on these sectors and creation of a fully-fledged Agriculture Production [...]
Telangana Industries Minister lays foundation stone for Kitex unit in Warangal
Hyderabad, May 7 (PTI) Telangana Industries Minister K T Rama Rao on Saturday laid the foundation stone for Kitex unit at Kakatiya Mega Textiles Park in Warangal. About 15,000 people would get employment in the Kitex textile industry which would come up at a cost of Rs 1,600 crore, the Minister's official twitter account said. [...]
Instead of fighting inflation, Haryana govt promoting alcoholism: Selja
Chandigarh, May 7 (PTI) Instead of curbing inflation by reducing taxes on fuels, the Haryana government has made liquor cheaper in the state by cutting down the excise on it and has made clear what is its priority, Senior Congress leader Kumari Selja said on Saturday. The former Union minister made the remark, hitting out [...]
Toyota lines up Rs 4,800 cr investment to locally produce EV components
New Delhi, May 7 (PTI) Toyota group firms, including Toyota Kirloskar Motor, on Saturday said they will invest about Rs 4,800 crore in Karnataka for local production of powertrain parts and other components of electric vehicles. Toyota Kirloskar Motor (TKM) along with Toyota Kirloskar Auto Parts (TKAP) will put in Rs 4,100 crore while a [...]
‘Govt consulting agencies for locations to set up food truck markets’: Sisodia
New Delhi, May 7(PTI) Delhi government in the first phase of implementing its Food Truck policy has asked agencies to identify places where food truck markets can be developed in the city similar to what exist in some of the western nations, Deputy Chief Minister Manish Sisodia said on Saturday. The food truck markets will [...]
Govt bringing major changes in transport sector: V K Singh
Meerut (UP), May 7 (PTI) The Union government is brining major changes in the transport sector and their effects will soon be visible on the ground, Minister of State for Road Transport and Highways V K Singh said on Saturday. Addressing a function to mark the Golden Jubilee Year of Bhartiya Parivahan Mazdoor Mahasangh, Singh [...]
LIC IPO’s NII portion fully subscribed on Day 4; offer closes on Monday
New Delhi, May 7 (PTI) Shares reserved for non-institutional investors, including high networth individuals, in the LIC's public offer were subscribed fully on the fourth day on Saturday, taking the overall subscription of the issue to 1.66 times. A total of 3,21,59,055 bids were received for 2,96,48,427 shares reserved for NIIs, reflecting a subscription of [...]
First RRTS train set on way to Ghaziabad from Gujarat
Savli (Gujarat), May 7 (PTI) The first train set of Regional Rapid Transit System (RRTS), equipped with modern mobility features, was handed over to NCRTC by Alstom India as it rolled out of its manufacturing plant in Gujarat's Savli on Saturday. The National Capital Region Transport Corporation (NCRTC) is establishing India's first RRTS which is [...]
Maithan Steel focusing on expanding NE base: Official
Guwahati, May 7 (PTI) Maithan Steel which has achieved 50 per cent year-on-year growth in the past 36 months in the northeast is working on expanding its dealers’ network in the region.The company was focused on ensuring superior quality TMT bars for which it has launched an advertising campaign, a press release issued on Saturday [...]
In UP’s potato-rich Firozabad, 650 women join force for first chips company
Noida, May 7 (PTI) Tables have turned for a 32-year-old Sadhna Yadav who was once jeered for her entrepreneurial ambition, but now cuts a figure of respect in her community. Sadhna is one of the 10 directors of the first and all women-led potato chips company in Uttar Pradesh's Firozabad district. “Earlier my family members [...]
Food brand aggregator BBFT acquires Puran Singh Ka Mahoor Vishal Dhaba
New Delhi, May 7 (PTI) Food brand aggregator Big Bang Food Tech (BBFT) on Saturday said it has acquired 'Puran Singh Ka Mashoor Vishal Dhaba' for an undisclosed sum. The company plans to open 100 Puran Singh outlets by the end of March next year. The outlets would be in two formats of take away [...]
DCB Bank Q4 net profit jumps to Rs 113 cr
New Delhi, May 7 (PTI) Private sector lender DCB Bank on Saturday posted a 44.87 per cent rise in its net profit at Rs 113 crore for the quarter ended March 2022. The bank had registered a net profit of Rs 78 crore in the same quarter a year ago. Total income in the March [...]
FM flags anonymity as ‘inherent risk’ in use of blockchain
Mumbai, May 7 (PTI) Finance Minister Nirmala Sitharaman on Saturday flagged anonymity as an "inherent risk" in blockchain technology and called for taking precaution in future with a rise in the use of this technology. The finance minister made it clear that using the distributed ledger technology (DLT), which is also called as blockchain, is [...]
Generali completes acquisition of 25 pc stake in Future Generali India Insurance from Future Group
New Delhi, May 7 (PTI) Italian financial services major Generali on Saturday said it has completed the acquisition from Future Enterprises of 25 per cent stake in Future Generali India Insurance, and its stake in the JV has now gone up to 74 per cent. Generali received the approval from the relevant regulatory and competition [...]
Govt aims to develop vehicle scrapping facilities within 150 kms from city centres
New Delhi, May 7 (PTI) Union minister Nitin Gadkari on Saturday said his aim is to develop at least one automobile scrapping facility within 150 kilometres from each city centre, while asserting that the country has the potential to become a vehicle scrapping hub of the entire South Asian region. Speaking at the Material Recycling [...]
First RRTS train set on way to Ghaziabad from Gujarat
Savli (Gujarat), May 7 (PTI) The first train set of Regional Rapid Transit System (RRTS), equipped with modern mobility features, was handed over to NCRTC by Alstom India as it rolled out of its manufacturing plant in Gujarat's Savli on Saturday. The National Capital Region Transport Corporation (NCRTC) is establishing India's first RRTS which is [...]
LPG price hiked by Rs 50; crosses Rs 1,000 mark in most places
New Delhi, May 7 (PTI) Cooking gas LPG prices were on Saturday hiked by Rs 50 per cylinder, the second increase in rates in just over six weeks following the firming of international energy rates. Non-subsidised LPG now costs Rs 999.50 per 14.2-kg cylinder in the national capital, up from Rs 949.50 previously, according to [...]
Go Fashion Q4 net up 73 pc to Rs 12 cr; sales up 29 pc to Rs 116 cr
New Delhi, May 7 (PTI) Go Fashion (India) Ltd, on Saturday reported a 72.75 increase in its net profit at Rs 12.30 crore for the fourth quarter ended March 2022, helped by increased cost efficiencies. The company, which retails women's bottom-wear under the brand "Go Colors", had posted a net profit of Rs 7.12 crore [...]
Three workers receive minor injuries at Tata Steel plant in Jamshedpur
New Delhi, May 7 (PTI) Tata Steel on Saturday said three contractual workers at its plant in Jamshedpur received minor injuries. They were given first aid immediately, the company said in a statement. While two of them have been discharged after first aid, one is currently under medical observation, it said. "This morning, we reported [...]
Govt proposes to make trade certificate process online for vehicle dealers
New Delhi, May 7 (PTI) To promote ease of doing business, the Ministry of Road Transport and Highways (MoRTH) has proposed that a dealer, manufacturer or importer of motor vehicles can apply for a trade certificate electronically for multiple types of vehicles in a single application on the Vahan portal, according to an official release. [...]
Micro-fertiliser makers’ body urges govt not to control prices of micronutrients
New Delhi, May 7 (PTI) Micro-fertiliser makers' body IMMA on Saturday hailed the proposed bill on plant nutrition management to regulate the sector, but urged the government not to bring any price control mechanism for micronutrients and speciality products. The Indian Micro-Fertilizers Manufacturers Association (IMMA) said in a statement that it welcomes the draft Integrated [...]
Paper consumption to touch 30 mn tonnes by FY27: IPMA
New Delhi, May 7 (PTI) Paper consumption in India is likely to witness 6 to 7 per cent annual growth and will reach 30 million tonnes by FY 2026-27, largely driven by emphasis on education and literacy coupled with growth in organised retail, according to industry body IPMA. The paper Industry holds immense potential for [...]
Go Fashion clocks 73.2% rise in PAT during Q4
Chennai, May 7 (PTI) Go Fashion (India) Ltd which owns the popular women's wear brand 'Go Colors' has recorded a 73.2 per cent jump in its profit after tax (PAT) for the quarter ending March 31, 2022. The company reaped Rs 12.3 crore. The city-based company registered a PAT of Rs 7.1 crore during the [...]
NEWSALERT
Cooking gas (LPG) price hiked by Rs 50 per cylinder; to cost Rs 999.50 in Delhi. PTI ANZ MR MR
Areca and Coconut Prices
Mangaluru, May 7 (PTI) Following are Saturday's areca and coconut prices: Areca (per quintal) Old Supari: Rs 51000 to Rs 54000, model Rs 53000 New Supari: Rs 40000 to Rs 45000, model Rs 43500 Koka: Rs 20000 to Rs 25000, model Rs 24000 Coconut (per thousand) 1st quality: Rs 15500 to Rs 18000, model Rs [...]
Hyundai Motor India Foundation hands over cut section engines to 24 ITIs in TN
Chennai, May 7 (PTI) Hyundai Motor India Foundation, the philanthropic arm of Hyundai Motor India, has donated cut section engines to 24 government-run industrial training institutes across Tamil Nadu, the company said on Saturday. The cut section engines to 24 government ITIs would enable the students to train and enhance their employability skills. "Keeping in [...]
Global tech industry body seeks revision in India’s directive on reporting of cyber security breach
New Delhi, May 7 (PTI) US-based technology industry body ITI, having global tech firms such as Google, Facebook, IBM and Cisco as its members, has sought a revision in the Indian government's directive on reporting of cyber security breach incidents. ITI said that the provisions under the new mandate may adversely impact organisations and undermine [...]
Commodity prices
Bengaluru, May 7 (PTI) Following are Saturday's commodity prices (All rates in Rs/quintal): Rice Fine 4800-5200: Medium 3600-4200: Jowar 2400-3000: Jaggery Cube 3800-4000: Jaggery Ball 4100-4300: Coriander Seed 12000-16000: Chillies Fine 45000-47000: Potato Big 1900-2500: Medium 1200-1800: Onion Big 1200-1400: Medium 700-900: Small 400-600: Tamarind 6000-10000: Garlic 5000-6000: Horsegram 5600-6000: Wheat 2600-4000: Turmeric 8500-13500: Tur [...]
Indian Bank unveils digital broking solution
Chennai, May 7 (PTI) Public sector Indian Bank has unveiled digital broking solution -- E-Broking -- allowing customers to open a demat and trading account facility, in line with the digitalisation mission of the bank, an official said on Saturday. The launch of digital broking solution 'E-Broking' was a strategic step towards complete digitalisation of [...]
Chennai’s Smart Accountants Aims to become a McKinsey of India Offering Full Bouquet of IT and Consulting Services
Chennai, Tamil Nadu, India (NewsVoir) Smart Accountants, a Chennai-based business consulting and business process automation solutions company, aims to become a McKinsey of India by offering matching business services in terms of breadth, depth, scale, and quality. The company offers a wide range of services - from company registration to marketing automation, to 800+ customers [...]
Govt aims to develop vehicle scrapping facilities within 150 kms from city centres
New Delhi, May 7 (PTI) Union minister Nitin Gadkari on Saturday said his aim is to develop at least one automobile scrapping facility within 150 kilometres from each city centre, while asserting that the country has the potential to become a vehicle scrapping hub of the entire South Asian region. Addressing an event here, Gadkari [...]
Rooftop solar energy panels to be set up in all CAPF establishments
New Delhi, May 7 (PTI) As part of a mega green initiative, the Union home ministry has decided to set up rooftop solar energy panels in all installations of the Central Armed Police Forces (CAPFs) across the country. The move will help generate solar power up to 71.68 megawatts and facilitate use of green power [...]
90 Percent of New Moms Are Tired and Cranky Suggests Beddy-Momspresso Survey
India – Business Wire India • The survey was conducted in metro cities: Delhi, Mumbai Bangalore, and Hyderabad • The survey suggests 85% of the new mothers were sleep deprived • Over 50% of moms cited bed-sharing with their newborns to be the reason for their disturbed sleep, but currently, only 15% of them have [...]
LKP Securities sets a BUY tag on this banking stock for a target price of ₹2266
There was a 9% jump in the Nifty Bank Index in the last year, however, the shares of Kotak Mahindra Bank were almost flat. The bank’s Q4 results have managed to impress the street on a few counts with discussions shifting away from loan growth to deposit accretion. The private sector lender on Wednesday reported [...]
Merck Foundation Presents the Third Episode of Our Africa TV Program to Break Infertility Stigma
Mumbai, Maharashtra, India & Kampala, Uganda – Business Wire India Merck Foundation, the philanthropic arm of Merck KGaA Germany has released the Third Episode of their TV program – ‘Our Africa by Merck Foundation’ on Saturday, 30th April 2022 on KTN, Kenya and Sunday, 1st May on NTV, Uganda. The TV program’s third episode addressed [...]
109 Companies Hiring Students from Regional College of Management Bangalore for its 2022 Batch
Bangalore, Karnataka, India (NewsVoir) 100+ major companies have recruited talented candidates from the Regional College of Management Bangalore despite the pandemic looming large across. MBA aspirants from RCMB College have seen a remarkable placement session with competitive packages being offered by the best of the organizations rushing to the college to recruit all-rounders! RCM Bangalore [...]
Madhuri Dixit and Jay Bhanushali raise temperatures in Goa, as Monarch reigns over a fabulous weekend
Employees of one of India's leading financial service providers, Monarch Networth Capital Limited, rocked Goa as the company hosted a one-of-its-kind Annual Strategy Meet PANAJI, India, May 6, 2022 /PRNewswire/ -- All roads led to Goa on the weekend between the 29th of April and 1st of May 2022 - at least for employees of [...]
Sri Lankan President Gotabaya Rajapaksa declares state of emergency; PM Mahinda Rajapaksa refuses to quit
Colombo, May 6 (PTI) Embattled Sri Lankan President Gotabaya Rajapaksa declared a state of emergency with effect from Friday midnight, the presidential media division said, the second time in just over a month amidst growing countrywide anti-government protests over the unprecedented economic crisis. The state of emergency gives the police and the security forces sweeping [...]
Sri Lankan President Gotabaya Rajapaksa declares state of emergency
Colombo, May 6 (PTI) Embattled Sri Lankan President Gotabaya Rajapaksa declared a state of emergency with effect from Friday midnight, the presidential media division said, the second time in just over a month amidst countrywide public protests over the worst economic crisis. The state of emergency gives the police and the security forces power to [...]
Sri Lankan President Gotabaya Rajapaksa declares state of emergency
Colombo, May 6 (PTI) Embattled Sri Lankan President Gotabaya Rajapaksa declared a state of emergency with effect from Friday midnight, the presidential media division said, the second time in just over a month amidst countrywide public protests over the worst economic crisis. The state of emergency gives the police and the security forces power to [...]
WTO’s TRIPS council discusses proposal on patent waiver to deal with Covid pandemic
New Delhi, May 6 (PTI) The TRIPS Council of the World Trade Organization on Friday held discussions on a proposal floated by India, South Africa, the US and the EU to waive certain intellectual property rights like patents to deal with COVID-19 pandemic. "At a meeting of the Council for Trade-Related Aspects of Intellectual Property [...]
Sri Lankan President Gotabaya Rajapaksa declares state of emergency
Colombo, May 6 (PTI) Sri Lankan President Gotabaya Rajapaksa declared a state of emergency with effect from Friday midnight, according to the presidential media division. The state of emergency gives the police and the security forces power to arbitrarily arrest and detain people. Rajapaksa’s decision was to ensure public security and maintain essential services so [...]
Reliance Retail Q4 pre-tax profit rises to Rs 3,705 crore; FY22 gross revenue touches nearly Rs 2 lakh crore
New Delhi, May 6 (PTI) Reliance Retail Ltd on Friday posted a 2.43 per cent rise in pre-tax profit at Rs 3,705 crore for the fourth quarter ended March 2022 and its gross revenue for the full fiscal jumped to nearly Rs 2 lakh crore. The retail arm of Reliance Industries Ltd (RIL) saw its [...]
India, Italy have huge opportunities to boost economic ties: Piyush Goyal
New Delhi, May 6 (PTI) There are huge opportunities for increasing cooperation in areas like tourism, design, digital world, services, goods and education between India and Italy to boost economic ties, commerce and industry minister Piyush Goyal said on Friday. He said that the large size of the domestic market, availability of talent pool and [...]
Lenders to get 10-15 bps margin gains from rate hike: Report
Mumbai, May 6 (PTI) The unexpected interest rate hike by the RBI on Wednesday will have the banking system on average making a 10-15 bps gains on the yields, with private banks making larger gains as 57 per cent of their loans are linked to external benchmark rate and 40 per cent to the marginal [...]
Reliance Jio Q4 net profit jumps 24% to Rs 4,173 cr amid ARPU improvement
New Delhi, May 6 (PTI) India's largest telecom operator Reliance Jio on Friday posted an about 24 per cent jump in standalone net profit at Rs 4,173 crore for the fourth quarter ended March 2022, amid better realisation per user aided by tariff hike, better subscriber mix and FTTH services ramp-up. The standalone revenue from [...]
IHCL to raise women participation in workforce to 25 pc by 2025
New Delhi, May 6 (PTI) Tata group hospitality firm Indian Hotels Company (IHCL) on Friday said it aims to raise women's participation in its workforce to 25 per cent by 2025, and support women-led businesses and partners. The company, which launched 'She Remains the Taj' -- a framework for women-centric initiatives for all stakeholders, including guests, [...]
Six workers injured in fire at UPL unit
Ahmedabad, May 6 (PTI) Six workers sustained injuries in a fire that broke out at agro-chemical major UPL Ltd's manufacturing facility at Ankleshwar in Gujarat on Friday morning, a senior police official said.Two labourers who received severe burns were airlifted to a hospital in Mumbai for further treatment, said Bharuch district Superintendent of Police Leena [...]
Reliance Jio Q4 net profit jumps 24% to Rs 4,173 cr amid ARPU improvement
New Delhi, May 6 (PTI) India's largest telecom operator Reliance Jio on Friday posted about a 24 per cent jump in standalone net profit to Rs 4,173 crore for the fourth quarter ended March 2022, amid better realisation per user aided by tariff hike, better subscriber mix and FTTH services ramp-up.The standalone revenue from operations [...]
Reliance Retail Q4 pre-tax profit rises to Rs 3,705 crore
New Delhi, May 6 (PTI) Reliance Retail Ltd on Friday reported a 2.43 per cent increase in pre-tax profit to Rs 3,705 crore for the fourth quarter ended March 2022. The company's gross revenue stood at around Rs 1,99,704 crore in the last fiscal. The retail arm of Reliance Industries Ltd (RIL) had posted a [...]
Lanka protests: Activists warn to lay siege to Parliament amid nationwide strike demanding Rajapaksas’ ouster
Colombo, May 6 (PTI) Sri Lankan student activists on Friday warned to lay a siege to Parliament as trade unions launched a crippling island-wide strike to demand the resignation of President Gotabaya Rajapaksa and his government over their inability to tackle the economic meltdown which has caused unprecedented hardships to the public. Thousands of student [...]
Govt allows 50 pc concession in revenue share for promotion of coal gasification: Coal Min
Mumbai, May 6 (PTI) The government has allowed a 50 per cent concession in revenue share for coal gasification, Union Minister of Coal, Mines and Parliamentary Affairs Pralhad Joshi said on Friday."In order to support coal gasification and availability of coal for the sector on concessional rate, Ministry of Coal has introduced a policy for [...]
Reliance Q4 net up 22.5 pc; 1st Indian co to cross USD 100 bn annual revenue
New Delhi, May 6 (PTI) Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit [...]
Haryana govt slashes import pass fee on wine, intent fee for establishing wine manufactory
Chandigarh, May 6 (PTI) The import pass fee on wine has been slashed from Rs 7 to Rs 2 per bulk litre and the letter of intent fee for establishing wine manufactory reduced from Rs 15 lakh to Rs one lakh, as per the new excise policy of Haryana approved by the state cabinet here [...]
India, Italy have huge opportunities to boost economic ties: Piyush Goyal
New Delhi, May 6 (PTI) There are huge opportunities for increasing cooperation in areas like tourism, design, digital world, services, goods and education between India and Italy to boost economic ties, Commerce and Industry Minister Piyush Goyal said on Friday. He said that large size of domestic market, availability of talent pool, and the world [...]
Bank officers union objects to opening of branches on Sunday for LIC IPO subscription
New Delhi, May 6 (PTI) Bank officers union AIBOC has objected to the RBI's decision to open ASBA-designated branches on Sunday to facilitate subscription to the public offer of LIC, saying it will serve no purpose as most of the applications are filed digitally. Most of the branches are ASBA (Application Supported by Blocked Amount) [...]
Reliance Q4 Results: Net earnings rise 22.5%; 1st Indian co to hit USD 100 bn revenue
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in earnings for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the [...]
NEWSALERT
Reliance Industries reports 22.5 pc rise in Q4 net profit; becomes 1st Indian company to hit $100 bn revenue in a year. PTI ANZ ABM ABM ABM
CBBOs need to focus on supporting Farmer Producers Organisations: MoS Agri
New Delhi, May 6 (PTI) Union Minister of State for Agriculture Kailash Choudhary on Friday asked Cluster-Based Business Organisations (CBBOs) to reach out to the local elected representatives for mobilising small and marginal farmers to join the Farmer Producers Organisations. Addressing a conference in Jaipur, Choudhary asked "CBBOs and Implementing Agencies to further focus on [...]
HC seeks stand of Centre, RBI on plea concerning low circulation of coins for visually impaired
New Delhi, May 6 (PTI) The Delhi High Court on Friday sought the stand of the Centre and the Reserve Bank of India on a plea alleging low circulation of visually impaired friendly coins in the economy. A bench of Acting Chief Justice Vipin Sanghi and Justice Navin Chawla issued notice on the application by [...]
Co2 emissions higher in steel sector; stakeholders should draw action plan to address issue: Govt
New Delhi, May 6 (PTI) Expressing concern over high amount of carbon emissions from the domestic iron and steel sector, steel minister Ram Chandra Prasad Singh on Friday urged industry stakeholders to come together and develop an action plan to address the issue. The iron and steel sector is challenging with regard to reduction in [...]
Reliance Home Fin Q4 Results: Net loss balloons to Rs 4,522 cr
Debt-laden Reliance Home Finance (RHFL) on Friday reported ballooning of its net loss to Rs 4,522.19 crore for the quarter ended March 2022. It had posted a net loss of Rs 444.62 crore in the same period a year ago. Total income during January-March quarter of 2021-22 fell to Rs 16.35 crore as against Rs [...]
MoS Rajeev Chandrasekhar inaugurates five NIELIT centres in NE
New Delhi, May 6 (PTI) Minister of State for Electronics and IT, Entrepreneurship and Skill Development Rajeev Chandrasekhar on Friday inaugurated five centres of NIELIT in the North East region for skill enhancement of educated youth. These five centres of National Institute of Electronics and Information Technology (NIELIT) are located in Dibrugarh, Dimapur, Jorhat, Pasighat [...]
RBI gives no-objection for merger of Equitas SFB, Equitas Holdings
New Delhi, May 6 (PTI) Equitas Small Finance Bank and the parent Equitas Holdings Ltd on Friday said that the Reserve Bank of India has given its no-objection to their proposal of amalgamation, subject to conditions. "We would like to inform that RBI in its letter dated May 6, 2022 has conveyed its no-objection to [...]
Centre implements all recommendations of Swaminanthan Comission: Agri Minister
Jaipur, May 6 (PTI) Union Minister of State for Agriculture Kailash Chaudhary on Friday said Prime Minister Narendra Modi-led government at the Centre has implemented all the recommendations of the Swaminathan Commission.The government intends that farmers should get financial support, the cost of cultivation should be reduced, farmers should get improved quality seeds and they [...]
Quess Corp, Fairfax Financial to set up paediatric specialty centre at CMC Vellore
New Delhi, May 6 (PTI) Business services provider Quess Corp Ltd, along with Fairfax Financial Holdings Ltd, will invest Rs 300 crore to set up a paediatric specialty centre at the Kannigapuram campus of Christian Medical College, Vellore in Tamil Nadu. Quess Corp and Fairfax Financial Holdings have signed an agreement to this effect with [...]
Post-1947, country suffered due to wrong economic policies, visionless leadership: Gadkari
Pune, May 6 (PTI) Union minister Nitin Gadkari on Friday said that due to the "wrong economic policies, corrupt governance and visionless leadership" post-Independence, the country suffered greatly, but with Prime Minister Narendra Modi at the helm, people are now talking about "self-reliant, happy, prosperous and powerful" India.Speaking at the inaugural ceremony of the Jain [...]
LIC IPO’s retail portion fully subscribed on day 3; offer closes on Monday
New Delhi, May 6 (PTI) LIC's public offer, the country's biggest-ever IPO, witnessed full subscription of the retail portion on day three on Friday. The overall issue was subscribed 1.38 times, according to data posted on stock exchanges on 7 pm. Against 16,20,78,067 shares on offer, 22,36,98,915 bids were received. However, the Qualified Institutional Buyer [...]
Odisha approves projects worth Rs 494cr
Bhubaneswar, May 6 (PTI) The Odisha government on Friday approved six projects worth Rs 494 crore, which can create employment opportunities for over 1,300 people in the state, according to an official release.The government's primary focus has been on the labour-intensive sectors such as metal downstream, food processing and plastic industries, which employ a large [...]
Eye on bigger deals, L&T decides to merge L&T Infotech and Mindtree
Mumbai, May 6 (PTI) Aiming at bigger deals from clients looking for digital services, L&T Group on Friday announced a merger of L&T Infotech and Mindtree, which will create the country's sixth largest information technology company with combined revenue of USD 3.5 billion. The engineering, projects and construction major, which already owns a majority stake [...]
Bajaj Consumer Care Q4 net profit falls 34.5 pc to Rs 35.82 cr
New Delhi, May 6 (PTI) FMCG firm Bajaj Consumer Care Ltd on Friday reported 34.47 per cent decline in its consolidated net profit to Rs 35.82 crore for the fourth quarter ended March 2022. The company had reported a net profit of Rs 54.67 crore in the January-March quarter a year ago, Bajaj Consumer Care, [...]
Pawan Hans handover to Star9 Mobility by June; successful bidder meets eligibility criteria
New Delhi, May 6 (PTI) The handover of loss-making helicopter service provider Pawan Hans to Star9 Mobility Pvt Ltd is likely to get over by June, an official said on Friday.Star9 Mobility Pvt Ltd, a consortium of Big Charter Private Limited, Maharaja Aviation Private Limited and Almas Global Opportunity Fund SPC, emerged as the highest [...]
Future Group to sell 18.6 pc stake in Amar Chitra Katha for Rs 13.62 crore
New Delhi, May 6 (PTI) Debt-ridden Future Group on Friday said it will sell part of its stake in Amar Chitra Katha Pvt Ltd (ACKPL), which publishes Amar Chitra Katha comics, for Rs 13.62 crore.It has entered into definitive agreements on Thursday to dispose of part of its investments held in ACKPL constituting to 18.58 [...]
Bajaj Consumer Care Q4 net profit falls 34.5 pc to Rs 35.82 cr
New Delhi, May 6 (PTI) FMCG firm Bajaj Consumer Care Ltd on Friday reported 34.47 per cent decline in its consolidated net profit to Rs 35.82 crore for the fourth quarter ended March 2022. The company had reported a net profit of Rs 54.67 crore in the January-March quarter a year ago, Bajaj Consumer Care, [...]
Federal Bank books highest quarterly net profit at Rs 540.5 cr on falling NPAs
Mumbai, May 6 (PTI) Federal Bank on Friday reported its highest quarterly net profit at Rs 540.54 crore for the March 2022 quarter, up 13.13 per cent year-on-year, on improved asset quality and higher loan sales.The Kochi-based bank also guided towards 15 per cent asset growth and matching deposit mop-up this fiscal despite the end [...]
Rupee plummets 55 paise to 76.90 per USD
Mumbai, May 6 (PTI) Snapping its four-day winning run, the rupee slumped 55 paise to close at 76.90 against the US dollar on Friday as heavy foreign fund outflows and hardening crude oil prices took a toll on sentiment. Global sentiment was risk-averse on renewed concerns over growth and inflation, which hit most emerging market [...]
Ukraine war impact: Rlys to manufacture Vande Bharat wheels in Bengaluru to offset supply crisis
New Delhi, May 6 (PTI) With its plan to import Vande Bharat train wheels from Ukraine impeded by the ongoing war, the Indian Railways has decided to manufacture them at its Bengaluru factory to ensure the prime minister's pet project is rolled out on time, say sources. The first batch of 128 wheels, out of [...]
Coromandel to buy 45 pc stake in Africa’s rock phosphate mining co BMCC for Rs 150 cr
New Delhi, May 6 (PTI) Coromandel International Ltd on Friday said it is set to acquire 45 per cent stake in Baobab Mining and Chemicals Corporation (BMCC) in Africa for about Rs 150 crore and will infuse around Rs 75 crore as debt. In a regulatory filing, the company informed that it is set to [...]
Delhi skill varsity to set up incubation centre to boost student entrepreneurs
New Delhi, May 6 (PTI) The Delhi Skill and Entrepreneurship University (DSEU) will be setting up a Business Blasters Incubation Centre to boost small businesses and student entrepreneurs, a statement issued by the government said on Friday. The DSEU organised an orientation programme at a government school in West Delhi to apprise students about its [...]
Fairfax Financial, Quess Corp pledge Rs 300 crore for paediatric speciality centre at CMC, Vellore
Chennai, May 6 (PTI) Canadian billionaire Prem Watsa-owned Fairfax Financial Holdings Ltd along with Bengaluru-based business services provider Quess Corp Ltd on Friday announced the signing of an agreement with Christian Medical College, Vellore, to set up a 350-bed paediatric speciality centre at its campus in Tamil Nadu. Fairfax Financial Holdings and Quess Corp have [...]
Pharma dept suggests allocation of funds by institutes to promote startups
New Delhi, May 6 (PTI) The Department of Pharmaceuticals has recommended allocation of a fixed percentage of not less than 1 per cent of annual budget of institutes to fund and promote innovation and startup-related activities in the sector. In its common guidelines on pharmaceutical innovation and entrepreneurship for academic institutions, the Department of Pharmaceuticals [...]
Pawan Hans handover to Star9 Mobility to be completed by June
New Delhi, May 6 (PTI) The handover of loss-making helicopter service provider Pawan Hans to Star9 Mobility Pvt Ltd is likely to get over by June, an official said on Friday.Last month, the government approved selling its 51 per cent stake in helicopter services provider Pawan Hans Ltd (PHL) along with the transfer of management [...]
CBIC generates Rs 1,67,540 crore revenue in April: Official
Chennai, May 6 (PTI) The Central Board of Indirect Taxes and Customs (CBIC) has achieved a milestone in terms of revenue by generating Rs 1,67,540 crore in April 2022, a senior government official has said. Revenue Secretary Tarun Bajaj after inaugurating SANKALP -- an annual conference of principal chief commissioners, principal director generals of Goods [...]
Dyson India invites Mothers and Daughters to experience no extreme heat damage hair styling at the Dyson Demo Stores
NEW DELHI, May 6, 2022 /PRNewswire/ -- In celebration of the Mother's Day (May 8), Dyson India is inviting the mother – daughter duos to experience no extreme heat damage hair styling using Dyson's Hair Care technologies at the Dyson Demo stores. True to its mission of 'solving problems that others ignore', Dyson's hair care [...]
Dr. Lakshmi Venu Takes Over as Managing Director of Sundaram-Clayton Limited
Chennai, Tamil Nadu, India (NewsVoir) Dr. Lakshmi Venu has taken over as the Managing Director of Sundaram-Clayton Limited (SCL), one of India’s leading auto components manufacturer at the board meeting held today. Dr.Venu was the Joint Managing Director of Sundaram-Clayton. Dr. Lakshmi Venu has been leading Sundaram-Clayton from the forefront with aplomb for over a [...]
Tata Power Q4 Results: Consolidated net profit rises over 31%
Tata Power has reported an over 31 per cent rise in its consolidated net profit to Rs 632.37 crore in the March 2022 quarter, mainly on the back of higher revenues. Its consolidated net profit was Rs 481.21 crore in the year-ago quarter, according to a statement. "Consolidated PAT before Exceptional Items up by 76 [...]
Azure Power Announces Appointment of New Chief Executive Officer
NEW DELHI, May 6, 2022 /PRNewswire/ -- Azure Power Global Limited (NYSE: AZRE) ("Azure" or "the Company"), a leading independent sustainable energy solutions provider and renewable power producer in India, today announced that Mr. Harsh Shah will be joining as the Chief Executive Officer, effective July 1, 2022. Mr. Shah was previously the Chief Executive [...]
Reliance Jio Q4 Results: Standalone profit after tax up 24%
Reliance Jio on Friday posted an about 24 per cent increase in standalone profit after tax to Rs 4,173 crore for the quarter ended March 2022. The company had registered a profit after tax (PAT) of Rs 3,360 crore in the same period a year ago, the company said in a filing. The standalone revenue [...]
NEWSALERT
Jio Q4 profit up 24 pc to Rs 4,173 cr; revenue rises to Rs 20,901 cr: BSE filing. PTI PRS MBI PRS ABM ABM
CESC commissions first microgrid with floating solar & BESS
Kolkata, May 6 (PTI) Power distribution company CESC Ltd on Friday said it has commissioned its first microgrid with floating solar and Battery Energy Storage System (BESS) on a trial basis in South 24 Parganas district, a model that will help in crisis management and uninterrupted power supply with green energy.Microgrid is like a small [...]
Sundaram-Clayton elevates Lakshmi Venu as MD
New Delhi, May 6 (PTI) Auto components major Sundaram-Clayton Ltd on Friday announced the elevation of Lakshmi Venu as its Managing Director. Venu, who was the Joint Managing Director, has been leading the company for over a decade now. She has been the lead architect in establishing Sundaram Clayton's global footprint, the company said in [...]
BULLION CLOSING RATE
BULLION CLOSING RATE MUMBAI, MAY 6 (PTI) MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 62,358.00 62,530.00 STANDARD GOLD (99.5) : 51,243.00 51,485.00 PURE GOLD (99.9) : 51,449.00 51,692.00 ---------------- PTI MUM SSB SSB SSB
SKF Showcases Clean and Intelligent Machinery Solutions at PapereX’22
New Delhi, Delhi, India (NewsVoir) • End-to-end solutions that help Pulp & Paper industry maximize plant reliability and performance • Visit us at Stall No. H16, Lane-H, Hall No. 11 Expo Centre, Greater Noida SKF - a leading global manufacturer of bearings, sealing solutions, lubrication management, condition monitoring systems, and services, will showcase its extensive [...]
GE Shipping March-qtr net jumps over three-fold to Rs 189 cr
Great Eastern Shipping (GE Shipping) on Friday reported a 285.71 per cent jump in consolidated net profit to Rs 189 crore for the quarter ended March. The company had posted a net profit of Rs 49 crore in the year-ago period, GE Shipping said in a BSE filing. Total revenue during the January-March quarter increased [...]
Power Min asks all imported coal-based thermal plants to run on full capacity
New Delhi, May 6 (PTI) The power ministry has directed all imported coal-based plants to run on full capacity amid the ongoing dry fuel shortage at thermal plants crippling electricity generation.In an office order issued in this regard on Thursday by the ministry, it is noted that most of the states have allowed pass-through of [...]
Investors wealth tumbles over Rs 4.47 lakh cr amid market crash
New Delhi, May 6 (PTI) Investors became poorer by over Rs 4.47 lakh crore on Friday as markets faced severe drubbing, mirroring weak trends in global equities. The 30-share BSE benchmark dived 866.65 points or 1.56 per cent to settle at 54,835.58. During the day, it tumbled 1,115.48 points or 2 per cent to 54,586.75. [...]
Sensex, Nifty crash as global markets lose nerve; end week in red
Mumbai, May 6 (PTI) Dalal Street wilted under intense selling pressure on Friday, mirroring a meltdown in world equities as investors braced for slowing global growth amid policy tightening by central banks. A sharp drop in the rupee amid a spurt in crude oil prices and unabated foreign fund outflows added to the woes. The [...]
Govt identifies 1,537 projects worth Rs 6.5 lakh crore under Sagarmala programme
New Delhi, May 6 (PTI) With focus on port-led development, more than 1,500 projects worth around Rs 6.5 lakh crore have been identified for implementation as part of the Sagarmala programme, Union minister Sarbananda Sonowal said on Friday. Sonowal further said that container turnaround time at major ports has also reduced due to the Sagarmala [...]
Surety bonds offer new class of business for general insurance sector: Bajaj Allianz MD
New Delhi, May 6 (PTI) The government's decision to allow surety bonds as substitute for bank guarantees in government procurement have opened a new avenue for the general insurance sector and will also help create cross-selling opportunities for the industry, said Bajaj Allianz General Insurance CEO Tapan Singhel. Surety bonds contracts typically involve three parties [...]
Sundaram-Clayton elevates Lakshmi Venu as Managing Director
Chennai, May 6 (PTI) Auto component manufacturer Sundaram-Clayton Ltd has elevated Lakshmi Venu as its Managing Director with immediate effect, the company said on Friday. Prior taking up the new role, Venu was serving the city-based TVS Group firm as its joint managing director. Venu, daughter of TVS Group Chairman-Emeritus, Venu Srinivasan has been leading [...]
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