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Metal stock under ₹100 hits 5% upper circuit company to raise ₹134 Cr to expand it business
During the Tuesday trading session, the shares of one of the Leading manufacturers and exporters of coated metal products and fast-moving consumer goods (FMCG) in India hits 5% upper circuit in the days trade upon declaring fund raise of Rs. 135 crores and expansion plans Price action With the market capitalization of Rs. 577 crores [...]
Vijay Kedia stock jumps 4% after company to raise ₹127 Cr to expand its business
Vijay Kedia stock engaged in providing robotic and automation solutions for Industrial Automation and many others jumped upto 4 percent in the day’s trade following fund raise for expansion plans and other purposes. Price Action With a market capitalization of Rs. 738 Crores, the shares of Affordable Robotic & Automation Limited were trading at Rs. [...]
Water management stock in which Mukul Agrawal has bought stake; Do you own it?
Listed below is a recently listed Water and Waste management engaged in the design, construction, operation, and maintenance of water and Waste-Water Treatment Plants and many more related to it, in which Ace Investor Mukul Mahavir Agrawal has invested. Price Action With a market capitalization of Rs. 4,009 Crores, the shares of Enviro Infra Engineers [...]
Ashish Kacholia stock in focus after it ventures into AI sector; Receives order worth $1.8 Mil
EMS stock held by Ashish Kacholia,engaged in the design and manufacturing of electronics in India, in focus upon receiving a work order worth USD 1.8 million. With a market capitalization of Rs.1135 crores on Monday, the shares of Aimtron Electronics Ltd hit a 2% lower circuit and closed at Rs.544.90 compared to its previous closing [...]
EV stock jumps 6% after company plans to open 3200 stores by the end of Dec
The Electric Vehicle (EV) segment is rapidly expanding as countries aim for cleaner and sustainable transportation. Leading companies in the EV sector include Tata Motors, Mahindra Electric, and players like Ather, Ola Electric, Hero, and Bajaj, which are innovating in electric cars, buses, and two-wheeler manufacturing. With the rise in environmental awareness, the demand for [...]
Realty stock jumps 11% after company launches luxury residential project in Mumbai
This Microcap Realty stock deals in construction and infrastructure development including commercial and residential projects, while offering other services related to project management and execution was up by 11 percent in the day’s trade after the company acquired a Residential Project in Goregaon worth Rs. 22 crore. Price Action With a market capitalization of Rs. [...]
Power stock jumps 7% after announcing their business updates
The power sector in India is witnessing robust growth, driven by the increasing demand for electricity due to rapid urbanization, industrial expansion, and rising consumer needs. The government's initiatives like the “Power for All program”, renewable energy targets, and electrification of rural areas have further accelerated the sector's momentum. With an expanding population and a [...]
PSU stock jumps 3% after upgrade in target price; Further upside of 20% expected
The LNG industry is poised for significant growth, with global supply capacity expected to reach 666.5 MTPA by 2028 which is driven by new projects primarily in the U.S. and Qatar. However, the demand growth depends due to declining imports in key markets like Europe and Asia and can lead to potential oversupply and lower [...]
Power stock hits 5% upper circuit after receiving work order worth ₹12 Cr from RVPNL
Power stock engaged in providing services for the construction and commissioning of electricity transmission, distribution systems, and many others hit a 5 percent upper circuit in the day’s trade upon receiving work orders worth ~Rs. 12.80 Crores from RVPNL. Price Action With a market capitalization of Rs. 346 Crores, the shares of Kay Cee Energy [...]
Chemical stock jumps 7% after receiving order worth ₹223 Cr from HPCL
The oil and petroleum refining industry remains a cornerstone of the global energy sector, driving economies and supporting industrial and consumer demands. With rising energy needs, especially in developing nations, the industry is poised for steady growth. Increasing urbanization, industrialization, and the expansion of petrochemical applications in manufacturing and infrastructure highlight its significance. Moreover, technological [...]
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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
Trishneet Arora Listed in Leaders of Tomorrow by St. Gallen Symposium Switzerland Among 200 Global Leaders
Trishneet Arora is one among 200 leaders from across the globe to be named Leader of Tomorrow for the second time at the 51st St Gallen Symposium Mumbai, Maharashtra, India & St. Gallen, Switzerland – Business Wire India Adding yet another feather to his cap at the young age of just 28, Trishneet Arora has [...]
Axis AMC conducting suo moto probe; suspends 2 fund managers
Facing allegations of front running and a reported regulatory probe, Axis Asset Management on Friday said it has been suo moto investigating the case since February and has suspended two fund managers pending completion of the investigation. Further, the asset management company has used external advisors to aid the investigation, Axis AMC said in a [...]
Rupala hands over machine to IIT-D for making cow dung logs for cremations
New Delhi, May 6 (PTI) Union Minister Parshottam Rupala on Friday handed over a cow dung log machine "Go Kasht" to IIT-Delhi's Project Arth that aims to replace wood with modified cow dung logs for conducting the hindu practice of cremations in India. IIT-Delhi's Project Arth and ENACTUS has taken up an initiative to redefine [...]
Intellect Design Arena reports 28.11% rise in Q4 top-line
Chennai, May 6 (PTI): Intellect Design Arena Ltd, a cloud native, multi-product financial technology company, has recorded a 28.11 per cent rise on its revenue for the quarter ending March 31,2022 at Rs 5,094 million, the company said on Friday. The city-based company had recorded total revenue at Rs 3,976 million during corresponding period previous [...]
CEOs of Australian businesses come together to discuss Australia India – Economic Cooperation and Trade Agreement (ECTA)
NEW DELHI, May 6, 2022 /PRNewswire/ -- Deakin University, Australia India Business Council Ltd Victoria Chapter (AIBC Vic) and Confederation of Indian Industry (CII) jointly hosted a CEO roundtable in Melbourne on 5th May 2022. The event was attended by CEOs and senior representatives of Australian businesses from across sectors. The prime objective of the [...]
L&T Infotech and Mindtree announce mega-merger to create large-scale IT services player
L&T Infotech and Mindtree on Friday announced a mega-merger to create an efficient and scaled-up IT services provider, exceeding USD 3.5 billion in combined revenue, according to a statement. The name of the combined entity will be 'LTIMindtree', the statement said. In an all-share deal, L&T Infotech will offer 73 shares for every 100 shares [...]
KL Deemed-to-be University establishes new KL Global Business School, Hyderabad
HYDERABAD, India, May 6, 2022 /PRNewswire/ -- KL Deemed-to-be University, one of the leading universities in the country for graduation and higher education has today inaugurated KLH Global Business School, an ultra-modern B-School dedicated to its internationally normative business courses. Located amidst the corporate houses at Kondapur, Hyderabad, KLH GBS offers a range of top-ranking [...]
JCI honours Nehal for creating Cricket’s World Record of 578 runs
LUDHIANA, India, May 6, 2022 /PRNewswire/ -- JCI is known for recognizing and honoring young talent in different area. On 5th May, JCI (Ludhiana) honored ex U19 Indian cricketer Nehal Wadhera who has become talk of the nation by creating a few world records in the last week. Merely seven months back, Nehal Wadhera was [...]
Happiest Minds Tech Q4 Results: Net income up 45% to Rs 52 cr amid high attrition
IT company Happiest Minds Technologies has reported 44.5 per cent rise in net income at Rs 52 crore for March quarter, on a 39 per cent growth in revenue amid record high attrition that has almost doubled over the previous fiscal year. During the quarter, the mid-sized software firm said, its revenue rose to Rs [...]
PEPPER COPRA CLOSING RATE
MUM PEPPER COPRA OPENING RATES MUMBAI, MAY 6 (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 [...]
NEWSALERT
In all-share deal, L&T Infotech to offer 73 shares for every 100 shares of Mindtree: Co statement. AA MBI MBI ABM ABM
NEWSALERT
L&T Infotech, Mindtree announce merger; combined entity to be called 'LTIMindtree'. PTI AA MBI MBI ABM ABM
COMMODITY PRICES
COMMODITY PRICES MUMBAI, MAY 6 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST. COPPER :- COPPER CABEL SCRAP (BERRY) 775.00 COPPER HEAVY SCRAPS 766.00 COPPER ARMATURE (CREDIT) 755.00 COPPER UTENSILS SCRAP 695.00 CC ROD 786.00 CC ROD (RECYCLED) 770.00 BRASS :- BRASS SHEET CUTTING 573.00 BRASS UTENSIL SCRAP 525.00 BRASS HONEY 500.00 ALUMINIUM :- ALUMINIUM UTENSIL [...]
Rajnigandha Silver Pearls Pays Tribute to Motherhood and Maternal Bonds
Launches a new campaign themed ‘Forgotten’ on the International Mother's Day “Ma kuchh bhi bhool jaaye magar, Ma hona nahin bhool sakti” New Delhi, Delhi, India (NewsVoir) Rajnigandha Silver Pearls, has launched a new campaign titled ‘Forgotten’ on International Mother’s day to celebrate a story of timeless care and love and an extraordinary relationship of [...]
Multibagger penny stocks deliver more than 110% returns in a month
The stock market has been volatile so far in 2022. Investors have been feeling the heat amid the geopolitical crisis and the resultant inflation. However, a few stocks managed to give stellar returns to their investors. Raj Rayon Industries Ltd It is one of the leading manufacturers of synthetic as well as artificial yarn. It [...]
Indian firms register revenue and job growth in UK, finds ‘India Meets Britain Tracker’
London, May 6 (PTI) Indian-owned companies operating in the UK have multiplied in the past year, up from 850 to 900, with a corresponding hike in revenues and job creation figures, according to latest research released here.The 2022 ‘India Meets Britain Tracker’, launched on Thursday, revealed these companies employed 141,005 people, up from 116,046 in [...]
SJVN bags contract for 30 MW wind-solar hybrid project worth Rs 195 cr
New Delhi, May 6 (PTI) Government-owned SJVN on Friday said it won a contract worth Rs 195 crore for setting up of its maiden wind-solar hybrid project with 30 MW generation capacity. "Company has bagged its first ever 30 MW wind-solar hybrid project through a tender floated by Solar Energy Corporation of India Ltd (SECI)," [...]
Tea Board finalising recommendations on industry demand for package
Kolkata, May 6 (PTI) Tea Board is finalising its recommendations to the commerce ministry on the industry's demand for a special financial package for retaining the viability of this sector which is claimed to be under threat, an official said on Friday.Tea industry representatives had met the Parliamentary Standing Committee on commerce in March and [...]
OILSEEDS PRICES
MAY 6, 2022 MUMBAI, (PTI) OIL SEEDS (per 100 Kgs) Gr. Kernel 8200.00 Gr. Bolds 60/70 8750.00 Gr. Javas 60/70 9850.00 Gr Javas 70/80 8850.00 Gr.Javas 80/90 9350.00 Kardiseed 2pct Crug/Expor Qly 5500.00 Seasameseed Whitish 98/2/FFA/1FM 10000.00 Whitish 95/5/FFA/1FM 9800.00 Brown 48/2 FFA/4 FM 9400.00 Brown 48/3 FFA/4 FM 9100.00 Brown 48/4 FM/* No FFA [...]
HarperCollins announces the publication of ‘Editor Missing: The Media in Today’s India’ by Ruben Banerjee
NEW DELHI, May 6, 2022 /PRNewswire/ -- HarperCollins is proud to announce the publication of the first book evaluating the current state of the Indian media, written by an 'insider' who has had a ringside view of it. Editor Missing: The Media in Today's India by Ruben Banerjee; Releasing on 16th May, 2022. Here is [...]
GoSchool – A Transformative High School
A refreshing alternative to a traditional school May 6th 2022, Mumbai: Ajeenkya DY Patil Group is pleased to announce its partnership and launch of GoSchool India’s first career-focussed, high school, that has been launched in partnership with international education leaders Pearson, iXperience and UniDirect. GoSchool combines high-quality teaching, personalised counselling, extracurricular activities, test preparation, counselling [...]
Zomato CEO to donate $90 mn for education of delivery partners’ children
Online food delivery platform Zomato's Founder and CEO Deepinder Goyal will be donating around USD 90 million (nearly Rs 700 crore) from vested ESOPs to Zomato Future Foundation to help fund the education of children of its delivery partners. In an internal memo shared with the employees of the company, Goyal said before Zomato went [...]
Vertex Group and it’s Exemplary Leader have Won The World’s Greatest Brands and Leaders 2021-22
London, United Kingdom (NewsVoir) Vertex Group has been awarded as The World’s Greatest Brand 2021-22 and Mr. Gagan Arora, Founder & President of Vertex Group has been recognized amongst The World’s Greatest Leaders, 2021-22 by AsiaOne in collaboration with CNBC and ET NOW. Mr. Gagan Arora collected this prestigious award along with Mr. Taran Singh, [...]
L&T Technology Services’ 5th Edition of Academia-Industry Initiative TECHgium Concludes with Breakthrough Innovations
30,000+ Participants; 3600+ Concepts; 444 Engineering Colleges; a 9 Month Journey Bengaluru, Karnataka, India – Business Wire India L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a global leading pure play engineering services company, announced the successful conclusion of the 5th Edition of its widely acclaimed annual academia-industry innovation initiative, TECHgium®. Conceptualized to provide engineering [...]
Federal Bank Q4 Results: Standalone net profit rises 13% to Rs 541 cr
Private sector lender Federal Bank on Friday reported a 13.2 per cent rise in its standalone net profit to Rs 541 crore in the March 2022 quarter. The bank had posted a net profit of Rs 478 crore in the same quarter previous fiscal. The total income during the January-March quarter of 2021-22 increased to [...]
ONGC wins 18 out of 21 oil, gas blocks in OALP-VI bid round, OIL gets 2
State-owned Oil and Natural Gas Corporation (ONGC) has won 18 out of the 21 areas offered for finding and producing oil and gas in the sixth bid round under Open Acreage Licensing Policy, according to the upstream regulator DGH. Oil India Ltd (OIL) walked away with two blocks and Sun Petrochemicals Pvt Ltd got one [...]
Guar seed futures decline amid ample supplies
New Delhi, May 6 (PTI) Guar seed prices on Friday declined by Rs 48 to Rs 6,024 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 48 or 0.80 per cent to Rs 6,024 per [...]
Guar gum futures ease on low demand
New Delhi, May 6 (PTI) Guar gum prices on Friday fell by Rs 114 to Rs 11,644 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 114 or 0.98 [...]
Crude oil futures gain on spot demand
New Delhi, May 6 (PTI) Crude oil prices on Friday rose by Rs 80 to Rs 8,345 per barrel as participants widened positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 80 or 0.97 per cent at Rs 8,345 per barrel in 7,483 lots. [...]
Canara Bank Q4 Results: Standalone net profit jumps 65%
State-run lender Canara Bank on Friday reported a 64.90 per cent jump in its March quarter net at Rs 1,666 crore on the back of a rise in core interest income and a decrease in money set aside for bad debts. The Bengaluru-headquartered bank closed FY22 with a net profit of Rs 5,678 crore, which [...]
MUM BULLION OPENING
MUMBAI, MAY 6 (PTI) MUMBAI BULLION OPENING RATES:- OPENING RATES SILVER SPOT (IN RS PER KILO) : 62358.00 STANDARD GOLD (99.5) : 51243.00 PURE GOLD (99.9) : 51499.00 ---------------- PTI MUMSVC SVC
Sudarshan Venu Elevated as Managing Director of TVS Motor Company
Chennai, Tamil Nadu, India – Business Wire India TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, announced at its board meeting today the elevation of Sudarshan Venu as Managing Director of the Company, effective today. Sudarshan has been charting the future of one of India’s leading two-wheeler manufacturer and has made it [...]
Stock Market Crash: 4 Key factors that caused the markets to fall
Benchmark indices- The BSE Sensex and the NSE Nifty opened gap-down on Friday and lost more than 5% this week led by heavy selling across the board. On average, six stocks fell for every rising stock. This happened after a crash in the US market overnight after rate hikes by the US Fed. The 30 [...]
Venus Pipes & Tubes sets IPO price band at Rs 310-326/share
Venus Pipes & Tubes on Friday said it has fixed a price band of Rs 310-326 a share for its Rs 165-crore initial public offering (IPO). The initial share-sale will be open for public subscription on May 11 and conclude on May 13. The bidding for anchor investors will open on May 10, according to [...]
Tata Motors reappoints ex SBI Chairman Om Prakash Bhatt as additional director
New Delhi, May 6 (PTI) Tata Motors on Friday said it has reappointed former SBI Chairman Om Prakash Bhatt as an additional director till March 7, 2026. The company's board, based on the recommendation of the nomination and remuneration committee, has approved appointment of Bhatt as an additional non-executive independent director for the second consecutive [...]
ABP Group launches centenary logo
Panaji, May 6 (PTI) Leading media house the ABP Group has unveiled its centenary logo as a part of a celebratory campaign during an event held here. The Centenary logo was launched during the event – Goa Fest 2022 – organised by Advertising Agencies Association of India and The Advertising Club on Thursday. "The logo [...]
SBI-DIRECT EXCHANGE RATES
MUMBAI, MAY 6 (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 75.88 77.38 75.82 77.54 EUR/INR 79.37 82.11 79.31 82.27 GBP/INR 93.29 96.31 93.22 96.50 JPY/INR 57.80 59.65 57.75 59.76 [...]
MUM PEPPER COPRA OPENING RATES
MUMBAI, MAY 6 (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
Voltas shares tumble nearly 10% after March quarter earnings
Shares of air conditioning and engineering services company Voltas Ltd tumbled nearly 10 per cent in early trade on Friday after the firm reported a 23.46 per cent decline in its consolidated net profit in the fourth quarter ended March 2022. The stock tanked 9.77 per cent to Rs 1,045 on the BSE. At the [...]
Redcliffe Lifetech raises USD 61 mn from investors
New Delhi, May 6 (PTI) Leading diagnostics platform Redcliffe Lifetech on Friday said it has raised USD 61 million (around Rs 466 crore) in a funding round led by LeapFrog Investments. Healthquad, Schroders, LC Nueva, Growth Spark Ventures and existing investors Chiratae Ventures and Alkemi Venture Partners also participated in the funding round. The investment [...]
TVS Motor Company Registers Highest Ever Turnover and Profit during FY 2021-22; Achieved 1 Mn Two-wheeler Sales in International Market; EBITDA for Q4 2021-22 at 10.1 percent
Chennai, Tamil Nadu, India (NewsVoir) TVS Motor Company’s revenue from operations in Q4 grew by 4% at Rs. 5,530 Crores against Rs. 5,322 Crores reported in the fourth quarter of 2020-21. Operating EBITDA for the fourth quarter increased to 10.1%. The Company reported Operating EBITDA of Rs. 557 Crores for the fourth quarter recording a [...]
RBI-MONEY MARKET OPERATION
MUMBAI, May 6 (PTI) Money Market Operations as on April 5, 2022 (Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume Weighted (One Leg) Average Rate RANGE A. Overnight Segment 481,571.08 4.14 2.30-6.15 I. Call Money 13,135.56 4.06 2.30-4.35 II. Triparty Repo 326,148.95 4.14 3.75-4.22 III. Market Repo 142,211.57 4.12 3.00-4.35 IV. Repo [...]
Nepal and US sign USD 659 million assistance agreement
Kathmandu, May 5 (PTI) Nepal and the US on Thursday signed a USD 659 million “development objective” agreement which is aimed at supporting the Himalayan nation’s goal of graduating to a middle-income country. Nepal aims to graduate from the Least Developed Country category by December 2026. The grant for the next five-year period will support [...]
RBI to fight inflation with greater resolve now: Sources
Mumbai, May 5 (PTI) The RBI's surprise rate hike may have been prompted by its inability to convince the government to cut excise duty on petrol and diesel and take other supply-side measures to tame runaway inflation, sources aware of the central bank's thinking said on Thursday. There has been a record Rs 10 a [...]
Vedantu lays off 200 employees
Edtech firm Vedantu has laid off 200 employees as it did not find them in sync with the company's growth expectation. When contacted, the company spokesperson confirmed the development and said the firm is also hiring over 1,000 new people. "We have over 6,000 employees out of which 120 contractors and 80 full-time or 3.5 [...]
Delhi Cabinet approves start-up policy, forms 20-member task force: Kejriwal
New Delhi, May 5 (PTI) Delhi Chief Minister Arvind Kejriwal on Thursday announced the launch of his government's ambitious start-up policy, under which start-ups will get collateral-free loans and other benefits.The Delhi Cabinet on Thursday approved the implementation of the Delhi Start-up Policy.During an online briefing, Kejriwal announced that entrepreneurship classes and a 'Business Blasters' [...]
ABB India Chairman Morten Wierod resigns
New Delhi, May 5 (PTI) Engineering firm ABB India on Thursday said its Chairman Morten Wierod has resigned."Morten Wierod vide letter dated May 5, 2022, has tendered his resignation from the position of Chairman and Non-executive & Non-independent Director of the Company, effective closure of business hours of May 5, 2022," a BSE filing said.The [...]
Trai maintains stand on satcom issue, cites lack of clarity in DoT’s query
New Delhi, May 5 (PTI) Responding to queries raised by the Department of Telecom, regulator Trai on Thursday stuck to its recommendations on creating a licensing framework for satellite-based connectivity for low bit rate applications like ATM, internet of things devices and traffic management. The Telecom Regulatory Authority of India (Trai) published its response to [...]
Future Group sells 25% stake in FGIICL to JV partner Generali for Rs 1,266 cr
New Delhi, May 5 (PTI) Debt-ridden Future Group on Thursday said it has completed the sale of its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to its JV partner Generali for Rs 1,266.07 crore as part of its asset monetisation plans to pair debts.After receiving mandatory approvals from the government [...]
Haryana, UP, Jharkhand, West Bengal, Odisha yet to float tenders for coal import
New Delhi, May 5 (PTI) The power ministry on Thursday said Haryana, Uttar Pradesh, West Bengal, Odisha and Jharkhand have not yet issued tender or taken any significant actions to import coal to ensure the fuel supply to their power plants.In a statement, the ministry advised states to import coal for blending purposes so that [...]
Fi expects to reach 3 million users in 2022
New Delhi, May 5 (PTI) Neobank startup Fi on Thursday said it expects to increase the user base to 3 million by the end of this year and revenue to flow into the company from lending product services initially. Founded by Sujith Narayanan and Sumit Gwalani, the ex-Google employees who pioneered GPay, Fi expects to [...]
TECHART forays into Indian market; opens first store in Bengaluru
New Delhi, May 5 (PTI) TECHART, the leading international premium refinement brand for all Porsche vehicles, on Thursday forayed into the Indian market with the opening of its flagship store in Bengaluru. The Germany-headquartered firm is know for refining Porsche cars. "We are incredibly excited to bring TECHART to the Indian market today," TECHART CEO [...]
RBI wants smooth policy measures; prefers smaller rate hikes: Source
Mumbai, May 5 (PTI) Battling a sharp surge in inflation, the Reserve Bank is all for a smooth monetary policy response and the desire to have smaller hikes led it to tighten the policy in an off-schedule meet, a source said on Thursday. Inflation has been massively impacted by Russia's invasion of Ukraine and will [...]
BRICS Industrial Internet training programme to be held in China
Beijing, May 5 (PTI) The first BRICS Partnership on New Industrial Revolution Centre (BPIC) Training Programme will be held in the southeastern coastal Chinese city of Xiamen from May 11 to 13 with the theme of 'industrial internet'. Nominations for this are sought from Indians who are currently based in China to join physically, a [...]
Centre asks officers not to furnish incorrect information about state borrowings
New Delhi, May 5 (PTI) Finance Secretary T V Somanathan has directed officers not to provide incorrect information to the central government concerning states' borrowings and Centrally Sponsored Schemes as this would attraction action under the service rules. The finance secretary's letter assumes significance as state governments' borrowing and allocation under various schemes depend on [...]
Fortum Charge & Drive commissions public EV-charging hub with 50 points in Bengaluru
Bengaluru, May 5 (PTI) Fortum Charge & Drive India on Thursday said it has commissioned a public electric vehicle (EV)-charging hub here with 50 charging points. The hub, which allows 50 vehicles to be charged simultaneously, will cater to electric cars, two-wheelers, and three-wheelers, the company said in a release. Fortum Charge & Drive India [...]
ICICI, BoB, BoI, Central Bank revise lending rates after RBI’s repo rate hike
New Delhi, May 5 (PTI) Private sector lender ICICI Bank has revised its external benchmark lending rate (EBLR) to 8.10 per cent, and state-owned Bank of Baroda has raised the rate to 6.90 per cent with immediate effect after the RBI hiked the key repo rate.Likewise, two other public sector banks -- Bank of India [...]
LIC IPO fully subscribed on day 2; offer closes on May 9
New Delhi, May 5 (PTI) LIC's public offer, the country's biggest-ever IPO, was fully subscribed on the second day of bidding on Thursday. Against 16,20,78,067 shares on offer, 16,68,60,765 bids were received -- translating into a subscription of 1.03 times, as per data on stock exchanges as of 7 pm. However, the Qualified Institutional Buyer [...]
Adani Transmission Q4 Results: Consolidated net profit falls 7.6% to Rs 237 cr
Adani Transmission on Thursday reported a decline of 7.6 per cent in its consolidated net profit to Rs 237 crore in the March quarter. The consolidated net profit of the company was Rs 256.55 crore in the quarter that ended on March 2021, according to a company statement. Total income rose to Rs 3,165.35 crore [...]
Xi says epidemic prevention at ‘critical stage’; asks officials to adhere to zero-COVID policy
Beijing, May 5 (PTI) As China continue to wage a grim battle to curb the spread of the Omicron variant in Beijing and Shanghai, Chinese President Xi Jinping on Thursday asked officials to adhere to the much-criticised dynamic zero-COVID policy, saying that the epidemic prevention reached a "critical stage." Xi presided over the ruling Communist [...]
Wipro, HFCL join hands to develop 5G product portfolio
New Delhi, May 5 (PTI) IT company Wipro Limited and domestic telecom gear maker HFCL have entered into a partnership to jointly develop 5G product portfolio, mainly the routers required to connect mobile sites with the core network of telecom operators. The companies will collaborate on a portfolio of 5G products for the telecommunications sector, [...]
J’Khand gets Rs 19 cr excise revenue through liquor sale in 4 days post amendment in Excise policy
Ranchi, May 5 (PTI) The Jharkhand government has received a total of Rs 19.07 crore excise revenue in the last four days post amendments in excise policy related to rules of wholesale and retail sale of liquor, an official said.The state Cabinet on March 30 had approved four major amendments in the excise policy related [...]
No duty concession on 29.8% of product categories under free trade pact with Australia
New Delhi, May 5 (PTI) India will not provide import duty concession under the free trade agreement with Australia on 29.8 per cent of its tariff lines or product categories, including dairy products, food grains, precious metals, jewellery and most of the medical devices.Given the sensitivities of the specified products for the domestic industry, India [...]
DCM Shriram Q4 Results: Consolidated profit after tax up 73%
DCM Shriram on Thursday reported a 73.49 per cent growth in its consolidated profit after tax at Rs 401.19 crore for the quarter ended March. The company's profit after tax (PAT) stood at Rs 231.24 crore during the corresponding period of 2020-21, DCM Shriram said in a BSE filing. Total revenue from operations of the [...]
Blue Dart Express Q4 Results: Consolidated net profit up 52%; revenue rises 20%
Logistics services provider Blue Dart Express Ltd on Thursday reported an increase of 52.18 per cent in its consolidated net profit at Rs 136.97 crore for the fourth quarter ended March 2022. The company had posted a net profit of Rs 90 crore in the January-March quarter a year ago, Blue Dart Express said in [...]
Can’t invoke Article 19 rights, Meta does not discharge public function: Delhi HC told
New Delhi, May 5 (PTI)Social media company Meta Platforms, Inc – the parent organisation of popular platforms Instagram and Facebook -- has told the Delhi High Court that the rights under Article 19 (free speech) of the Constitution of India cannot be invoked against it by a user and that it is a private entity which does [...]
Telcos gross revenue falls 2.64% to Rs 69,695 cr; AGR up 16% in Dec 2021 quarter: Trai
New Delhi, May 5 (PTI) Telecom service providers' gross revenue declined by 2.64 per cent to Rs 69,695 crore in December 2021 quarter, according to the latest data published by the telecom regulator Trai.The gross revenue of the telecom service providers (TSPs) was Rs 71,588 crore in the same period a year ago, the quarterly [...]
Pakistan requests Saudi Arabia not to withdraw deposits, asks to extend oil facility
Islamabad, May 5 (PTI) Pakistan has requested Saudi Arabia not to withdraw its deposits given to its central bank and extend its oil facility for the cash-strapped country. Finance Minister Miftah Ismail while addressing a press conference in Karachi on Wednesday said Islamabad had requested Riyadh, which is considering rolling over dollar deposits as Islamabad [...]
Rupee extends gains, rises 5 paise to 76.35
Mumbai, May 5 (PTI) Rising for the fourth straight session, the rupee appreciated by 5 paise to close at 76.35 against the US dollar on Thursday after the US Federal Reserve hiked rates by 50 basis points on expected lines but played down prospects of a more aggressive rate action at its next meeting. At [...]
Bengal signs MoU with Flipkart to create pool of supply chain operators
Kolkata, May 5 (PTI) E-commerce major Flipkart on Thursday signed a Memorandum of Understanding (MoU) with Paschim Banga Society of Skill Development (PBSSD), part of the West Bengal government's technical education, to impart industry training to youths to help create a pool of skilled supply chain operators in the state. After completing the course and [...]
Alkesh Kumar takes charge as new IT Secretary
New Delhi, May 5 (PTI) Alkesh Kumar Sharma has assumed charge as new Secretary for the Ministry of Electronics and Information Technology, an official release said on Thursday.Sharma, an Indian Administrative Services Officer of the 1990 batch from Kerala cadre, has earlier served as additional secretary and secretary in the Cabinet Secretariat.In addition to other [...]
After RBI, BoE & US Fed increase interest rates; Check the sectors that are affected
The Reserve Bank of India on Wednesday hiked the benchmark lending rate by 40 basis points (bps) to 4.40 % to contain inflation that has remained above the target of 6% for the last three months. This happened during an unscheduled Monetary Policy Committee (MPC) meeting. Banks are required to maintain a cash reserve of [...]
Kotak Mahindra Bank raises savings rate on fixed deposits by up to 0.35%
Kotak Mahindra Bank Limited (Kotak) on Thursday announced an increase in interest rates on fixed deposit across multiple tenor baskets for its retail customers by up to 0.35 per cent. The increase in FD (Fixed Deposit) rates comes after the Reserve Bank of India announced a 40 basis points hike in the repo rate, Kotak [...]
Bank frauds, ponzi, govt funds swindling constitute half of ED’s money laundering cases: Data
Cases related to bank loan frauds, embezzlement of government funds and duping of investors through ponzi scams constitute almost half of the money laundering investigations taken up by the ED since it was empowered to investigate serious financial crimes about 16 years back. Cases of corruption in the government and public sector come next as [...]
US-India bilateral ties are for mutual benefit : US Consul General
Kolkata, May 5 (PTI) US Consul General Melinda Pavek Thursday said that bilateral ties between India and America are for mutual benefit in the fields of trade, investment, public health and security in the Indo-Pacific region. Speaking at an interactive session organised by Merchants Chamber of Commerce and Industry here, the Kolkata-based US envoy said [...]
MoS power assures assistance to SJVN for implementing projects
New Delhi, May 5 (PTI) Union Minister of State for Power & Heavy Industries Krishan Pal Gurjar has assured all possible assistance to state-owned SJVN Ltd in the execution of various projects in India, Nepal and Bhutan.The minister visited SJVN Corporate Headquarters Shakti Sadan at Shimla today, a company statement said.Gurjar held a meeting with [...]
Gujarat HC says ‘unnecessary hype’ given for SBI crop loan issue involving dues of 31 paise
Ahmedabad, May 5 (PTI) The Gujarat High Court has observed that "unnecessary hype is given due to You Tube for nothing" in a case related to State Bank of India (SBI) withholding the no-dues certificate with respect to a crop loan for non-payment of just 31 paise. The matter pertains to seven individuals borrowing about [...]
Tea exports in first 11 months of FY22 declines to 184.35 mkg
(Eds: Correcting header, minor edits) Kolkata, May 5 (PTI) Tea exports declined by 2.4 per cent to 184.35 million kg during the April-February period of the last fiscal, according to latest Tea Board data.The shipment of the crop was at 188.91 mkg in the corresponding period of the previous year.Value of exports in the first [...]
TVS Motor Q4 Results: Consolidated net profit declines 14%
TVS Motor Company on Thursday said its consolidated net profit declined by 14 per cent to Rs 275 crore for the fourth quarter ended March 2022, due to low sales. The company had posted a consolidated net profit of Rs 319 crore in the March quarter of 2020-21 fiscal. Revenue from operations, however, rose to [...]
‘Strokes of Harmony’, a coffee table book on paintings by singer Usha Mangeshkar and the Mangeshkar family released in Mumbai
Mumbai (Maharashtra) [India], May 5: Her admiration for the musical Mangeshkar family has made the country proud. Meet Anuja Rhythm Wagholikar, an art lover from Pune who for the first time produced and presented a coffee table book titled ‘Strokes of Harmony’, a collection of paintings by singer Usha Mangeshkar and other members of the [...]
Blue Star Q4 Results: Net profit up 12%; sales rise 40% to Rs 2,248 cr
Air-conditioning and commercial refrigeration firm Blue Star Ltd on Thursday reported a 12.01 per cent increase in net profit at Rs 76.27 crore for the fourth quarter ended March 2022, led by good demand amid early onset of summers this season. The company had posted a consolidated net profit of Rs 68.09 crore in the [...]
Sudarshan Venu Elevated as Managing Director of TVS Motor Company
Chennai, Tamil Nadu, India (NewsVoir) TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, announced at its board meeting today the elevation of Sudarshan Venu as Managing Director of the Company, effective today. Sudarshan has been charting the future of one of India’s leading two-wheeler manufacturer and has made it the most awarded [...]
The master of bespoke smiles, Dr Aastha Chandra is redefining cosmetic dentistry with her handiwork
She turns regular teeth into custom works of art. Meet Dr. Aastha Chandra, Mumbai-based master of cosmetic dentistry and the veneer queen who will handcraft the smile you truly deserve The feeling of having a big, beautiful smile that complements your features, personality and style can be quite empowering. Just like a luxury designer bag [...]
SRM University-AP Offers MTech with a 100 Percent Fee Waiver and Rs. 75,000 Stipend Per Year
Amaravati, Andhra Pradesh, India (NewsVoir) SRM University-AP, Andhra Pradesh, is a multi-stream research university focusing on diverse fields. Faculty members with PhD from renowned Universities in India and abroad fulfil the university’s mission of disseminating world-class knowledge and creating a culture of innovation. To promote research in higher education, SRM University-AP is offering an MTech [...]
Baniya Super Market Makes a Jammu-Delicacy Accessible Pan-India
The Business’s number one offering, Kesar Sund Panjeeri, is a unique recipe of North India’s most savoured nutritional supplement for warding off colds Jammu and Kashmir, India (NewsVoir) A hidden gem in the bustling streets of Raghunath Bazaar, Baniya Super Market has spread its wings to become India’s premier destination for SundPanjeeri. The delicacy’s success [...]
Marico Q4 net profit rises 13.2 pc to Rs 257 cr; revenue up 7.4 pc at Rs 2,161 cr
New Delhi, May 5 (PTI) FMCG firm Marico Ltd on Thursday reported a 13.21 per cent rise in consolidated net profit to Rs 257 crore for the fourth quarter ended March 2022.The company had posted a net profit of Rs 227 crore in the year-ago period, Marico said in a BSE filing.Its revenue from operations [...]
PM Modi, French President Macron agree on blueprint to further expand strategic bilateral ties
Paris, May 5 (PTI) Prime Minister Narendra Modi and French President Emmanuel Macron held extensive discussions on a range of bilateral and pressing global issues, including the raging conflict in Ukraine, the situation in the Indo-Pacific and terrorism, as the two top leaders agreed on a blueprint to work together in making the India-France strategic [...]
Cognizant March-qtr net income up 11.48 pc to USD 563 mn
New Delhi, May 5 (PTI) US-based IT services company Cognizant, which has 70 per cent of its workforce in India, on Thursday posted an 11.48 per cent increase in net income at USD 563 million for the first quarter ended March 2022 on account of growth in digital revenue. The company had registered net income [...]
France plans to have 20,000 Indian students by 2025 to study in country: joint statement
Paris, May 5 (PTI) France plans to have 20,000 Indian students by 2025 to study in the country which will create opportunities for new businesses, start-ups and innovation between the two countries, according to a joint statement issued by the two countries.The statement issued after Prime Minister Narendra Modi held talks with French President Emmanuel [...]
ZS India to hire 4,000 people in this fiscal
Mumbai, May 5 (PTI) Global professional services firm ZS on Thursday said it is planning to hire 4,000 people in India across domains during this financial year with an equal focus on freshers and experienced candidates. The fresh recruitment will take the company's total headcount to over 10,000. The firm is looking to grow its [...]
Creator Economy Platform Pluc.tv Raises Pre-Seed Funding Round; Joins Expert DOJO in California
Pluc.tv, which “believes in powering the rise of the creator middle class” will be joining start-up accelerator Expert DOJO in Southern California on the heels of crossing half a million users. Start-to-finish creator economy platform Pluc.tv announced that it has raised an undisclosed amount in pre-seed funding and is joining Expert DOJO, an international early-stage [...]
TVS Motor elevates Sudarshan Venu as Managing Director
New Delhi, May 5 (PTI) TVS Motor Company on Thursday said it has elevated Sudarshan Venu as Managing Director with immediate effect. Venu, 33, has been charting the future of the two-wheeler manufacturer and has played a pivotal role in the company's growth in domestic and key international markets, including Asia, Africa, and more recently [...]
RBI’s rate hikes to weigh down on banking system credit growth: India Ratings
Mumbai, May 5 (PTI) The surprise rate hike by the RBI signalling a reversal of the interest rate cycle will weigh down on the banking system's credit growth, which was showing signs of revival with an 11 per cent growth, a report said on Thursday.The tailwinds supporting a pick-up in credit growth will be in [...]
BULLION CLOSING RATE
BULLION CLOSING RATE MUMBAI, MAY 5 (PTI) MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 63,660.00 63,331.00 STANDARD GOLD (99.5) : 51,413.00 51,580.00 PURE GOLD (99.9) : 51,620.00 51,787.00 -------------------- PTI MUM SSBSSB SSB
Patel pitches for adoption of Industry 4.0
New Delhi, May 5 (PTI) Union Minister Anupriya Patel on Thursday said technology is the way to move forward and 'Industry 4.0' aims to increase productivity, efficiency and address sustainability and climate change issues. Industry 4.0 refers to a new phase of industrial revolution that focuses on technologies like machine learning, automation and big data. [...]
KONE Elevators India installs world’s largest elevator in Mumbai
Mumbai, May 5 (PTI) KONE Elevators India, a wholly-owned subsidiary of KONE Corporation, on Thursday announced the installation of world's largest passenger lift, which can carry over 200 people at a go, at the Jio World Centre in the city. The 5-stop and 16-tonne elevator installed at Jio World Centre (JWC), BKC, Mumbai is spread [...]
Adani Power shares rally nearly 5 pc after net profit surges in March quarter
New Delhi, May 5 (PTI) Shares of Adani Power on Thursday rallied nearly 5 per cent after the company's consolidated net profit jumped to Rs 4,645.47 crore in the March quarter. The stock climbed 4.40 per cent to settle at Rs 277.90 apiece on the BSE. During the day, it rallied 4.99 per cent to [...]
Jindal Stainless Hisar Q4 Results: Consolidated net profit grows 64%
Jindal Stainless Hisar Ltd (JSHL) on Thursday reported 64 per cent jump in consolidated net profit at Rs 574.70 crore for the quarter ended March 31, 2022, mainly on account of increased income. The company's net profit stood at Rs 350.65 crore in January-March 2020-21, JSHL said in a BSE filing. Total income during the [...]
Market rebound loses steam in fag-end trade; IT stocks stand tall
Equity indices surrendered early gains to close flat on Thursday as profit-taking took hold amid a rally in global markets, even as the US Federal Reserve hiked rates on expected lines to combat inflation. Recovering after a severe drubbing in the previous session following the RBI's surprise rate hike, the 30-share BSE benchmark Sensex soared [...]
Adani Power Q4 Results: Consolidated net profit jumps multi-fold to 35,276% YoY
Adani Power's consolidated net profit jumped multi-fold to Rs 4,645.47 crore in the March quarter from Rs 13.13 crore in the year-ago period, mainly on the back of higher revenues. Total income of the company surged 93 per cent to Rs 13,308 crore in the March quarter, from Rs 6,902 crore in the same period [...]
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