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Why did Adani Energy, Adani Ports & other Adani group stocks rallied by 17% today?
Recently, Adani group stocks declined due to SEC allegations including Adani Group and there was backlash on that news. Then Adani came up with the response to those allegations providing more clarification on the issue. Price Action of Adani Companies today After the clarifications, the group company stocks outperformed the nifty index today with Adani [...]
Stock under ₹100 hits upper circuit after receiving work order worth ₹70 Cr from Western Railways
Infra stock engaged in the construction and development of roads, railways, bridges, and other structures hit a 2 percent upper circuit in the day’s trade upon receiving work order worth ~Rs. 70 Crores from Western Railways. Price Action With a market capitalization of Rs. 475 Crores, the shares of A B Infrabuild Limited hit a [...]
Will Nikhil Kamat backed Dor challenge Jio, Airtel & Tata play in the premium entertainment sector?
The demand for OTT (Over-the-Top) streaming services in India has surged in recent years, fueled by widespread internet penetration and the increasing use of smartphones. Platforms like Netflix, Amazon Prime Video, Disney+ Hotstar, and Sony LIV dominate the market, offering a diverse range of content, from movies and TV shows to sports and web series. [...]
Stock jumps 10% after Morgan Stanley buys stake in the company via block deal
India's fintech ecosystem has seen remarkable growth, with the rise of innovative companies like Paytm, PhonePe, Razorpay, and Policybazaar, transforming financial services. The sector includes payments, lending, wealth management, insurance, and blockchain technologies. Startups are leveraging technology to offer easy-to-use platforms for digital wallets, loans, and investments, making financial services more accessible. With a massive [...]
AI stock jumps 3% after company’s board sets record date for 1:1 bonus issue
AI stock engaged in the business of software development, providing surveillance, custom robots, drones, and many more jumped upto 3 percent in the day’s trade upon fixing record date for the bonus issue of 1:1. Price Action With a market capitalization of Rs. 1,892 Crores, the shares of Kody Technolab Limited were trading at Rs. [...]
Cable stock jumps 8% after announcing ₹2,000 Cr fund raise via QIP
This Midcap Cable stock which deals in manufacturing cables and wires like HT cables, EHV cables, and LT cables, and sells products in India and overseas, was up by 8 percent in the day’s trade after the company announced raising funds through QIP at Rs. 3,880.54 per share. Price Action With a market capitalization of [...]
CDSL: Revenue split of CDSL from each of its business operations
Central Depository Services Limited (CDSL) is a key institution in India's capital markets, enabling the electronic holding and trading of securities. Founded in 1999, CDSL has become integral to market infrastructure, offering services that boost operational security and efficiency. Its revenue streams include annual issuer fees, transaction charges, and a variety of value-added services for [...]
Midcap stocks witnessing bullish momentum and are trading above 5 DMA to keep an eye on
Despite the broader market correction, with the Nifty Midcap index falling from 13,407 to 12,022 and eventually recovering to 12,569, certain stocks have demonstrated remarkable resilience. These stocks, are not only trading close to their 52-week highs but are also maintaining positions above their 5-day simple moving averages, indicating strong underlying bullish momentum even in [...]
Railway stocks to benefit after cabinet approves railway projects worth ₹7,927 Cr
The Cabinet Committee on Economic Affairs has approved three projects of the Ministry of Railways with a total cost of approximately Rs. 7,927 Crores, covering seven districts in Maharashtra, Madhya Pradesh and Uttar Pradesh, therby increasing the existing network of Indian Railways by about 639 Kms. The Ministry of Railways stated “The proposed multi-tracking projects [...]
Undervalued stock with net profit CAGR of more than 40% to keep on your radar
Founded in 1956, the company is an automotive manufacturing leader delivering high-quality products globally, with a strong focus on detail and client relationships. The company offers a comprehensive product portfolio through its joint ventures, including sealings, NVH solutions like heat shields, plastic components, forged and machine components, chassis, suspension, BIW components, anti-vibration components, and hoses. [...]
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Top Editor’s Pick
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 [...]
5 Stocks that supply defence equipments to Israel to keep an eye on
The geopolitical tensions involving Israel, Iran, and Gaza are characterized by Iran's animosity toward Israel and its support for militant groups like Hamas and Hezbollah, which engage in hostilities against Israel. This led to airstrikes, military & political outrage, loss of life, and more leading to fear of global war among other nations. Listed below [...]
Latest Market News
Maruti Suzuki , Hyundai see wholesales drop in April 22
Facing production issues due to supply chain challenges, leading carmakers Maruti Suzuki (MSI) and Hyundai Motor reported a dip in vehicle dispatches from factories to dealers in April this year. Tata Motors, Toyota Kirloskar Motor and Skoda Auto on the other hand witnessed a robust growth in vehicle dispatches last month. The country's largest carmaker [...]
Commercial LPG price hiked by Rs 102.50/cylinder
New Delhi, May 1 (PTI) The price of 19-kg commercial LPG cylinder was on Sunday hiked by Rs 102.50, the third straight monthly increase. With this, the 19-kg commercial cooking gas cylinder will now cost Rs 2,355.50, according to a price notification of state-owned fuel retailers. The commercial LPG price was increased by Rs 105 [...]
Bodhi Tree to buy strategic stake in Allen Career for USD 600 mn
New Delhi, May 1 (PTI) Bodhi Tree Systems, led by James Murdoch and Uday Shankar, will buy a strategic stake in Kota-based Allen Career Institute for USD 600 million (around Rs 4,590 core), a joint statement said on Sunday. Allen Career Institute Managing Director Keshav Maheshwari said the majority of the investment will be utilised [...]
India a major growth engine; to account for around 20 pc of overall topline in 5 yrs: FM Logistic
Mumbai, May 1 (PTI) French third-party logistics company FM Logistic has said India is a significant growth engine for the company and it is expecting its business here to account for 20-25 per cent of the overall topline in the next five years. The company also said FM Logistic India has grown three times in [...]
Jewellers expect sales during Akshaya Tritiya to surpass 2019 level
Mumbai, May 1 (PTI) With the economic activities growing gradually after two years of COVID-related disruptions, jewellers are upbeat about this Akshaya Tritiya, expecting sales to surpass the 2019 levels. However, some of them feel that the recent surge in gold prices could become a hindrance. Akshaya Tritiya will be celebrated across the country on [...]
60 projects cleared by Karnataka govt
Bengaluru, May 1 (PTI) The Karnataka government has approved 60 industrial projects worth Rs 2,465.94 crore that would generate jobs for over 8,575 people in the State. The 131st State-level single-window clearance committee (SLSWCC) meeting held under the chairmanship of Minister for Large and Medium Scale Industries Murugesh R Nirani on Saturday cleared the projects. [...]
Honda Cars reports 13 pc dip in domestic sales to 7,874 units in April
New Delhi, May 1 (PTI) Honda Cars India Ltd (HCIL) on Sunday reported a 13 per cent decline in domestic sales to 7,874 units for April.The company had sold 9,072 units in the domestic market during April 2021, HCIL said in a statement.Exports last month stood at 2,042 units against 970 units in April 2021."The [...]
Nissan to cut production of Datsun in TN, to introduce new model: Industries Minister
Chennai, May 1 (PTI) Japanese car-maker Nissan has decided to reduce the production of Datsun brand of cars in its facility near here and introduce a new model as part of its market-restructuring strategy, the Tamil Nadu government said on Sunday. Auto major Renault-Nissan has set up a joint manufacturing facility at Oragadam, about 45 [...]
Indonesia’s ban on palm oil exports a concern but impact to be transitory: FMCG industry
New Delhi, May 1 (PTI) Indian FMCG players, particularly food and snacks manufacturers, have said they are concerned about Indonesia's move to ban exports of crude palm oil, though some of them expect the decision is likely to have only transitory impacts on a short-term basis. Several industry leaders hint that they will reduce their [...]
Resolution primary objective of IBC; but need to be mindful of recovery too: SBI MD J Swaminathan
Mumbai, May 1 (PTI) The primary objective of the Insolvency and Bankruptcy Code (IBC) process is resolution of a distressed firm, but the recovery percentage also needs to be kept in mind, SBI Managing Director J Swaminathan said on Sunday. Financial and operational creditors owe money to companies facing insolvency proceedings and so recovery has [...]
GST revenues at all-time high of Rs 1.68 lakh cr in April
New Delhi, May 1 (PTI) The GST collection in April touched the highest ever level of about Rs 1.68 lakh crore, up 20 per cent from the year-ago period, on improved compliance and recovery in business activity, the Finance Ministry said on Sunday. During the month, 1.06 crore GST returns from GSTR-3B were filed, of which 97 [...]
NTPC seeks startups to produce torrefied biomass pellets
New Delhi, May 1 (PTI) State-run power giant NTPC has invited bids from the country's startups for the production of torrefied biomass pellets. Through its research and development wing NETRA, the NTPC intends to provide a platform to startups to enable them develop an advanced technology for producing torrefied biomass pellets that are well-suited for [...]
Govt to review design linked incentive scheme: MoS IT
Bengaluru, May 1 (PTI) The government will review norms of the design linked incentive (DLI) program which envisages to support 100 companies involved in product design in the semiconductor space as part of a Rs 76,000 crore scheme for developing the electronic chip ecosystem in the country, Minister of State for Electronics and IT Rajeev [...]
Odisha raises variable DA on minimum wage
Bhubaneswar, May 1 (PTI) The Odisha government hiked the variable dearness allowance (VDA) to be paid along with minimum daily wages for all categories of workers.The VDA for the workers engaged in 89 scheduled employments will be revised with effect from April 1, said a notification issued by the Labour Commissioner on Saturday evening.The unskilled, [...]
Cash-strapped Pakistan gets USD 8 billion in financial support from Saudi Arabia
Islamabad, May 1 (PTI) Saudi Arabia has agreed to provide Pakistan with a "sizeable package" of around USD 8 billion to help the cash-starved country bolster dwindling forex reserves and revive its ailing economy, a media report said on Sunday.Pakistan has faced growing economic challenges, with high inflation, sliding forex reserves, a widening current account [...]
Hyundai total sales dip 5 pc in April
New Delhi, May 1 (PTI) Hyundai Motor India on Sunday reported a 5 per cent decline in total sales at 56,201 units in April 2022. The company had sold 59,203 units in the same month last year, Hyundai Motor India Ltd said in a statement. Domestic sales were down 10 per cent to 44,001 [...]
IRDAI panel suggests ‘micro insurance’ modules for low-income group, small businesses
New Delhi, May 1 (PTI) A committee appointed by regulator IRDAI has suggested over a dozen low-cost "micro insurance" modules with a view to expand protection plans for uncovered population and small businesses. The committee has suggested that the insurers should be allowed to adopt a modular approach using various permutations and combinations for Combi [...]
Maruti Suzuki April sales slip 6 pc to 1,50,661 units
New Delhi, May 1 (PTI) The country's largest carmaker Maruti Suzuki India (MSI) on Sunday reported a 6 per cent decline in total wholesales to 1,50,661 units in April.The company had dispatched 1,59,691 units to dealers in April 2021, MSI said in a statement.Last month, the company's domestic sales slipped 7 per cent to 1,32,248 [...]
Tata Motors wholesales rise 74% to 72,468 units in April’22
Tata Motors on Sunday said its total sales increased by 74 per cent in April to 72,468 units compared to 41,729 in April 2021. The company's domestic sales increased by 81 per cent to 71,467 units from 39,401 units in April 2021, Tata Motors said in a statement. Total passenger vehicle dispatches to dealers rose [...]
Go Digit clocks Rs 5,000 cr premium in FY22 on strong growth in motor, health insurance
New Delhi, May 1 (PTI) New age insurer Go Digit General Insurance (Digit) has crossed Rs 5,000 crore-mark in gross written premium in FY22, driven by higher demand from motor, property and health segments.With over four-year of operations, the Bengaluru-headquartered insurtech is backed by Canadian billionaire Prem Wasta's Fairfax Financial Holdings through its parent company [...]
CIL’s priority is to ensure power plants are well-stocked with coal: CMD
New Delhi, May 1 (PTI) Stating that ensuring adequate fuel supply to thermal power plants is its "priority", public sector miner Coal India has asked its employees to step up efforts and breach the production and offtake target of 700 million tonnes for FY23. In a letter to the employees of Coal India Limited (CIL), [...]
Lankan prez Rajapaksa urges political parties to set aside differences; calls for ‘pro-people struggle’ to mitigate worst eco crisis
Colombo, May 1 (PTI) Sri Lanka's beleaguered President Gotabaya Rajapaksa on Sunday urged all political parties to set aside their differences and appealed to the protesting citizens to join hands to steer a "pro-people struggle", amidst growing demands for his government's immediate resignation over its failure to tackle the country’s worst economic crisis. His message [...]
Weekly Market Recap: India’s Semiconductor Plans, LIC IPO, Reliance Industries and more!
Benchmark indices BSE Sensex and the NSE Nifty 50 ended nearly 1% lower on Friday after erasing all opening gains. The Sensex dived 0.8% or 460 points to settle at 57060.87, while the Nifty 50 plummeted 0.83% to finish trade at 17,102. There was heavy turbulence in the market due to fears of a global [...]
Tata Motors looks to drive in Multiple EVs for buyers across segments
Tata Motors is looking to drive in a range of electric vehicles across various price points with multiple body styles and features in order to cater to a wide range of customers across segments, as per a top company official. The homegrown auto major, which currently leads the domestic electric passenger vehicle segment by a [...]
Salasar Techno Engineering to invest Rs 100 cr to expand business: MD
New Delhi, May 1 (PTI) Salasar Techno Engineering will invest Rs 100 crore to expand its business, the company's joint managing director Shashank Agarwal said. While Rs 50 crore is to be invested to set up a fabrication unit at Bhilai, another Rs 50 crore is to be utilised in putting up a galvanising plant, [...]
IRS officer Sangeeta Singh given additional charge of CBDT chairperson
New Delhi, May 1 (PTI) IRS officer Sangeeta Singh has been given the additional charge of CBDT chairperson after incumbent J B Mohapatra retired as the head of the direct taxes administration body on April 30.An order issued by the Union Finance Ministry on Sunday said Singh, a 1986-batch officer of the Indian Revenue Service [...]
EV fire incidents will be probed; industry bound to grow beyond our imagination: Transport Secy
New Delhi, May 1 (PTI) Amid multiple cases of electric two-wheelers catching fire, Road Transport and Highways Secretary Giridhar Aramane on Sunday said each and every incident will be probed and asserted that the Indian EV industry is bound to prosper and grow beyond 'our imagination'.Aramane further said the Ministry of Road, Transport and Highways [...]
NEWSALERT
Road Ministry achieves asset monetisation of about Rs 21k cr in FY22 as part of Centre's National Monetisation Pipeline: Transport Secy. PTI BKS ABM BAL
NEWSALERT
Each incident of electric vehicles catching fire will be probed; Indian EV industry bound to grow beyond our imagination: Transport Secy. PTI BKS ABM BAL BAL
Skoda sales zoom over five-fold to 5,152 units in April
New Delhi, May 1 (PTI) Skoda Auto India on Sunday said its sales surged by over five-fold in April to 5,152 units compared to 961 units in the year-ago period."It is heartening to see that a sedan is helping us climb peak after peak in sales. The Slavia is a resounding success, while the Kushaq [...]
Toyota Kirloskar sales jump 57 pc to 15,085 units in April
New Delhi, May 1 (PTI) Toyota Kirloskar Motor (TKM) on Sunday said its dispatches to dealers rose by 57 per cent in April to 15,085 units from 9,600 in the same month last year.In April, the company also achieved a significant milestone of clocking cumulative wholesales of over two million units since its inception."Demand continues [...]
Macrotech in talks with investors for industrial park funding platform; plans USD 1 bn investment
New Delhi, May 1 (PTI) Realty major Macrotech Developers is in an advanced stage of discussion with two global investors to set up a platform that will invest more than USD 1 billion to develop warehousing and industrial parks across India, a top company official said.In an interview with PTI, Macrotech Developers Managing Director (MD) [...]
Maha set to be become 1 trillion dollar economy: Governor Koshyari
Mumbai, May 1 (PTI) Maharashtra is all set to become a one trillion-dollar economy and it will be the first state in the country to do so, Governor Bhagat Singh Koshyari said here on Sunday on the occasion of 62nd anniversary of the state's formation. Koshyari addressed an event held at the Shivaji Park in [...]
Earnings, Fed interest rate decision, macro data to dictate market trend this week: Experts
The US Fed interest rate decision, domestic macroeconomic data announcements and ongoing quarterly earnings are some of the major factors that will drive the stock markets in a holiday-shortened week, analysts said. Besides, monthly auto sales numbers and the LIC IPO will also remain in focus, they added. Equity markets will remain closed on Tuesday [...]
Lankan prez Rajapaksa urges political parties to set aside differences; calls for ‘pro-people struggle’ to mitigate worst eco crisis
Colombo, May 1 (PTI) Sri Lanka's beleaguered President Gotabaya Rajapaksa on Sunday urged all political parties to set aside their differences and appealed to the worried citizens to join hands to steer a "pro-people struggle", amidst growing demands for his government's immediate resignation over its failure to tackle the country’s worst economic crisis. His message [...]
VKC Nuts eyes USD 1 bn sales in next five yrs
New Delhi, May 1 (PTI) Nuts and dried fruits player VKC Nuts Pvt Ltd is targeting sales of USD 1 billion (over Rs 7,650 crore) in the next five years, riding on the growth of the category propelled by increasing health awareness and expansion of its offerings, according to a top company official. The company, [...]
Peak shortage shoots up to 10.77 GW this week, deepens power crisis
New Delhi, May 1 (PTI) Peak power shortage rose swiftly this week from single digit of 5.24 GW on Monday to touch double digit of 10.77 GW on Thursday showing affects of various factors like low coal stocks at generation plants, heatwave and other issues on deepening electricity crisis. The latest data of national grid [...]
No denial of duty exemption for not adhering to O2-related equipment import procedures: CBIC
New Delhi, May 1 (PTI) The CBIC has asked field offices not to deny Customs duty exemptions to importers of oxygen-related equipment merely for not adhering to import procedures during the second wave of the Covid-19 pandemic last year.The Central Board of Indirect Taxes and Customs (CBIC) said the issue of non-observance of conditions of [...]
Govt notifies form for filing updated ITRs
New Delhi, May 1 (PTI) The Income Tax department has notified a new form for filing updated I-T returns in which taxpayers will have to give the exact reason for filing it along with the amount of income to be offered to tax.The new form (ITR-U) will be available to taxpayers for filing updated income [...]
India, Mauritius trade pact may include safeguard mechanism related provisions
New Delhi, May 1 (PTI) India-Mauritius trade agreement may include safeguard mechanism related provisions to protect the domestic industry from a sudden or unusual surge in imports of goods, according to sources.The agreement between the two countries came into force on April 1, 2021. After the implementation of such pacts, provisions can be added to [...]
MG Motor retail sales dip 22% to 2,008 units in April
New Delhi, May 1 (PTI) MG Motor India on Sunday said its retail sales declined 22 per cent to 2,008 units last month compared to 2,565 in April 2021.The production remained volatile and immensely impacted by the global supply chain constraints due to the sudden and new COVID-19 lockdowns in different parts of the world, the [...]
Suman Bery takes charge as Niti Aayog Vice Chairman
New Delhi, May 1 (PTI) Eminent economist Suman Bery on Sunday took charge as the Vice Chairman of the government think tank Niti Aayog, according to an official statement.Bery has previously served as Director General (Chief Executive) of the National Council of Applied Economic Research (NCAER) and the global chief economist of Royal Dutch Shell.He [...]
Fundraising via REITs, InvITs slumps 59% to Rs 22,145-cr in FY22 on uncertainty around world
New Delhi, May 1 (PTI) Fundraising through emerging investment instruments -- REITs and InvITs -- plunged 59 per cent to Rs 22,145 crore in 2021-22 primarily on account of uncertainty around the world and volatility in the stock market. In comparison, Rs 54,731 crore was raised in 2020-21. Prior to that, Rs 11,496 crore was [...]
ATF price hiked by 3.22 pc to record high
New Delhi, May 1 (PTI) Jet fuel prices on Sunday were hiked by 3.22 per cent -- the ninth straight increase this year -- to an all-time high, reflecting a surge in global energy prices.The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- was hiked by Rs 3,649.13 per [...]
NCLT-chosen ‘resolution professional’ for EISML insolvency, two others chargesheeted for cheating
Gurugram, Apr 30 (PTI) The Gurugram police has indicted three people, including a ‘resolution professional’ appointed by the National Company Law Tribunal for the revival of Educomp Infrastructure & Schools Management Limited as a corporate debtor amid its insolvency process, for cheating it instead. Police filed a chargesheet in a court here indicting Resolution Professional [...]
Union Minister lays foundation for Ro-Ro facility at Cochin port
Kochi, Apr 30 (PTI) Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, on Saturday laid the foundation for a Roll-On-Roll-Off (Ro-Ro) facility at Cochin Port. The new Ro-Ro facility, under the 'Sagarmala' scheme of the Union government, will be developed between Q1 berth and South Coal Berth on the Mattancherry Channel in Cochin Port. [...]
Initiate steps to sustain Nissan Motor operations in Chennai: AIADMK
Chennai, Apr 30 (PTI) Expressing concern over the reported move by Japanese carmaker Nissan Motor to halt the production of Datsun redi-GO car models at its Chennai plant, AIADMK co-ordinator O Panneerselvam urged Tamil Nadu Chief Minister M K Stalin to immediately intervene and ensure steps to sustain the operations. The future of thousands of [...]
Govt puts import curbs on certain waste, scrap of precious metals
New Delhi, Apr 30 (PTI) The government has restricted the imports of certain waste and scrap of precious metals, according to a notification of the commerce ministry.Imports of these items were free earlier. Now, it has been put under a restricted category, which means an importer will have to seek a license or permission from [...]
State-run power gencos owe Rs 6,477.5 crore to CIL
New Delhi, Apr 30 (PTI) State-run power generating companies of Maharashtra, West Bengal, Jharkhand, Tamil Nadu, Rajashthan and Madhya Pradesh owe Rs 6,477.5 crore to Coal India Ltd amid the country grappling with coal shortages.At present, the country is witnessing a power crisis on account of coal shortages.While Maharashtra State Power Generation Company owes the [...]
Union Minister announces investment of Rs 50 crore in maritime startups by Cochin Shipyard Ltd
Kochi, Apr 30 (PTI) Unveiling the startup engagement framework of the Cochin Shipyard Limited (CSL), Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal on Saturday announced an initial corpus fund of Rs 50 crore as investment in startup companies in the maritime sector. Inaugurating the golden jubilee celebrations of the CSL here, the Union [...]
Bihar will become one of leading ethanol producers: Nitish
Purnea (Bihar), Apr 30 (PTI) Bihar Chief Minister Nitish Kumar on Saturday claimed that the state is witnessing a rapid industrial growth for the last few years and asserted it will soon become one of the leading ethanol producers in the country. Inaugurating a greenfield grain-based ethanol plant in Parora in Purnea district, Kumar said [...]
CBDT Chairman retires; order for new head awaited
New Delhi, Apr 30 (PTI) CBDT Chairman J B Mohapatra retired on Saturday even as a government order for the appointment of a regular head of the direct taxes administration body is awaited. Mohapatra, a 1985-batch Indian Revenue Service (IRS) officer of the Income Tax department, was appointed as the full-time chairman in September last [...]
CCPA issues advisory to e-commerce players against illegal sale of wireless jammers
New Delhi, Apr 30 (PTI) Consumer protection regulator CCPA has issued an advisory to e-commerce companies against the illegal sale and facilitation of wireless jammers for general consumption, the Consumer Affairs Ministry said on Saturday.Before CCPA, the Department of Telecommunication had issued an advisory on January 21, 2022, against the illegal facilitation and sale of [...]
It’s time to build unicorn in semiconductor design space: MoS IT
Bengaluru, Apr 30 (PTI) Minister of State for Electronics and IT Rajeev Chandrasekhar on Saturday said India has over 80 unicorns in the internet and software space and now it is time to build unicorn in the semiconductor design domain. While interacting with startups at Semicon India Conference, Chandrasekhar said there is a tremendous future [...]
Second phase of mandatory gold hallmarking to be implemented from June 1: Govt
New Delhi, Apr 30 (PTI) The government on Saturday said the second phase of mandatory hallmarking of gold jewellery and artefacts will come into force from June 1 this year.Gold hallmarking is a purity certification of the precious metal and was voluntary in nature till June 16, 2021, when the government decided to implement mandatory [...]
Yes Bank Q4 net profit at Rs 367 cr; ends FY22 in black
Mumbai, Apr 30 (PTI) Yes Bank on Saturday reported a net profit of Rs 367 crore for the March 2022 quarter, helped by a heavy reduction in provisions for bad debts, which the private sector lender had to set aside as it recognised legacy stress in the year-ago period.FY22 is the first full-year profit since [...]
ED seizes Rs 5,551 cr deposits of Chinese smartphone giant Xiaomi for FEMA violation
New Delhi, Apr 30 (PTI) The Enforcement Directorate Saturday "seized" over Rs 5,551-crore worth fund of Chinese mobile manufacturing company Xiaomi for violating the Indian foreign exchange law, officials said.In a press release after the ED's statement, Xiaomi Technology India Private Limited said its operations in the country are "firmly compliant with local laws and [...]
HP govt amends Industrial Investment Policy
Shimla, Apr 30 (PTI) The Himachal Pradesh government has made important changes in the State Industrial Policy, an official spokesperson said here. The state government had notified the Himachal Pradesh Industrial Investment Policy 2019 on August 16, 2019, to provide incentives, concessions and facilities to promote investment in the hill state, the spokesperson of the [...]
FMC India partners with GB Pant Univ to develop entrepreneurship among rural women via beekeeping
New Delhi, Apr 30 (PTI) Agriculture science firm FMC India has partnered with Govind Ballabh Pant University of Agriculture and Technology (GB Pant University) to develop entrepreneurship among rural women through beekeeping.FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fibre and fuel for an expanding world population while [...]
Punjab govt to give Rs 1,500 per acre to paddy growers using direct seeding technique
Chandigarh, Apr 30 (PTI) The Punjab government on Saturday announced financial assistance of Rs 1,500 per acre to farmers sowing paddy through the direct seeding of rice (DSR) technique to check depleting underground water table.In his announcement, Chief Minister Bhagwant Mann also said the farmers can start sowing paddy through the DSR technique from May [...]
IDFC First Bank net profit jumps over two-fold to Rs 343 cr in Mar qtr
New Delhi, Apr 30 (PTI) IDFC First Bank on Saturday posted over two-fold rise in net profit to Rs 343 crore in the March 2022 quarter on the back of strong core operating income and lower provisioning for bad loans.The private sector lender had reported a net profit of Rs 128 crore in the same [...]
Riddhi Declared Winner of EverestBKCC Season 3 Grand Finale
Mumbai, Maharashtra, India (NewsVoir) The third season of Everest Better Kitchens Culinary Challenge (EverestBKCC) was held across 10 Indian cities viz Bhopal, Kolkata, Chennai, Hyderabad, Mumbai, Ludhiana, Jaipur, Nagpur, Kolhapur, and Pune. The theme of the culinary challenge was Flavours of India - that aimed at creating familiarity with Indian regional cuisines. Around 1000 students [...]
Delhi-NCR ranks 9th in Asia Pacific in occupancy cost for prime office space, Mumbai at 15th
New Delhi, Apr 30 (PTI) Delhi-NCR ranks ninth in Asia Pacific in terms of occupancy cost for prime office space at USD 60.1 per square feet per year, according to Knight Frank India. As per Knight Frank's Asia-Pacific Prime Office Rental Index for Q1 2022 that tracks 23 cities in the region, Hong Kong SAR [...]
Deep haircuts: Comparing realisations with outstanding loans not reasonable to assess IBC effectiveness, says RBI DG
Mumbai, Apr 30 (PTI) Seeking to address concerns over the deep haircuts taken by banks in some of the insolvency resolutions, Reserve Bank Deputy Governor M Rajeshwar Rao on Saturday said comparing the outstanding loan amounts with the value realised may not be a 'reasonable indicator' to assess the bankruptcy law's effectiveness.Admitting that there have [...]
DoT exempts handsets, smart watches from mandatory testing regime;addresses regulatory overlap
New Delhi, Apr 30 (PTI) The telecom department has exempted certain products including mobile user equipment, mobile handsets, and smart watches from the ambit of its mandatory testing `MTCTE regime', removing a regulatory overlap that existed, an official release said on Saturday. The exemptions on these widely-used products will reduce the compliance burden and will [...]
Markets abuzz for Eid shopping in Kashmir
Srinagar, Apr 30 (PTI) Markets in Kashmir are abuzz with activity on Saturday as people went on a shopping spree in preparation for Eid-ul Fitr, which will be celebrated early next week, to mark the culmination of Muslim fasting month of Ramzan, officials said. A good footfall of customers was seen at bakery shops, mutton [...]
Prominent trade union leader joins AAP in Jammu
Jammu, Apr 30 (PTI) A prominent trade union leader along with his supporters joined the Aam Aadmi Party (AAP) at the party headquarters here on Saturday. Som Nath, accompanied by his 50 supporters, joined the AAP in presence of senior party leaders including former legislator Balwant Singh Mankotia and District Development Council (DDC) member Taranjit [...]
Evolving with changing scenarios will be crucial for IBC: Minister
Ahmedabad, Apr 30 (PTI) Evolving with changing scenarios will be crucial for Insolvency and Bankruptcy Code (IBC) as it could become the most potent instrument in driving proactive responsible behaviour among lenders and prove to be a boon for the economy, Minister of State for Corporate Affairs Rao Inderjit Singh said on Saturday. He was [...]
KOLKATA BULLION PRICES
Kolkata, April 30(PTI): OPENING CLOSING SILVER RDY.(BAR) : RS.65,300.00 64,100.00 Per Kg.SILVER RDY.(PORTION) : Rs.65,400.00 64,200.00 Per Kg.GOLD (24-CARAT) RDY. : Rs.52,600.00 52,550.00 Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.49,900.00 49,850.00 Per 10 Gms.HALLMARKED GOLD (22-CT) RDY. : Rs.50,650.00 50,600.00 Per 10 Gms. ---- PTI SAM
ED seizes Rs 5,551 cr deposits of smartphone giant Xiaomi India for FEMA violation
New Delhi, Apr 30 (PTI) Funds worth over Rs 5,551 crore of Chinese mobile manufacturing company Xiaomi India have been "seized" for violating the Indian foreign exchange law, the Enforcement Directorate said said on Saturday.The action has been taken against Xiaomi Technology India Private Limited. The company (also called Xiaomi India) is a trader and [...]
Yes Bank Q4 Results: Posts net profit of Rs 367 cr; returns to full-year profitability in FY22
Yes Bank on Saturday said it returned to full-year profitability in the fiscal ended March 2022, registering a profit of Rs 1,066 crore during the year. The private sector lender had posted a net loss of Rs 3,462 crore in the previous fiscal year ended March 2021 and a loss of Rs 22,715 crore in [...]
Evolving with changing scenarios will be crucial for IBC: Minister
Ahmedabad, Apr 30 (PTI) Evolving with changing scenarios will be crucial for Insolvency and Bankruptcy Code (IBC) as it could become the most potent instrument in driving proactive responsible behaviour among lenders and prove to be a boon for the economy, Corporate Affairs Minister Rao Inderjit Singh said on Saturday. He was speaking at an [...]
NEWSALERT
Yes Bank returns to full-year profitability in FY22 with Rs 1,066 cr profit: Co filing. PTI KPM KPM ABM ABM
NEWSALERT
Yes Bank reports net profit of Rs 367 cr in Q4 against net loss of Rs 3,788 cr in year-ago period: Co filing. PTI KPM KPM ABM ABM
DIACOLOR India’s Leading Jewellery Brand, Partners with the India Art Fair 2022, to Showcase a Collection of Responsibly Sourced Gemstones along with Artworks by Eco-Artist Natalia Kapchuk
New Delhi, Delhi, India (NewsVoir) As all roads lead to the capital city to celebrate the country’s largest art and culture fest the India Art Fair’22, DIACOLOR, a leading luxury jewellery brand joins hands with the fair as their luxury partner. Showcasing the wonder world of artistry and rare gemstones, this year the brand showcases [...]
Top Stock Picks: 4 Auto Sector Stocks to buy recommended by 5Paisa
The two-wheeler industry is showing signs of improvement after three consecutive years of volume decline. The retail volumes in the recent months imply annualized volumes of 15-16 mn, which if maintained, would result in 12-19% wholesale volume growth in FY23, according to 5Paisa. The two-wheeler industry saw a sharp decline in the demand around the [...]
KVIC clocks Rs 1.15 lakh cr turnover in FY22
New Delhi, Apr 30 (PTI) The Khadi and Village Industries Commission (KVIC) achieved a whopping Rs 1.15 lakh crore turnover in 2021-22, growing at a rate of 20.54 per cent from the previous year, the government said on Saturday. The MSME ministry stated that KVIC has achieved a height which remains a distant goal for all [...]
Astral to acquire 51 pc stake in Gem Paints for Rs 194 cr
New Delhi, Apr 30 (PTI) PVC pipes and plastic products maker Astral said it will acquire a majority 51 per cent stake in Gem Paints for Rs 194 crore, a move which will allow the Ahmedabad-based firm to expand its product portfolio into the paints segment. Astral has entered into a definitive agreement with Gem [...]
KIUG 21 Host JAIN University Wins Hearts of the Participants
Excellent sports performance followed by magnificent Cultural Fest Bengaluru, Karnataka, India (NewsVoir) With unparalleled grandeur, the Khelo India University Games (KIUG) 2021, hosted by JAIN University, has successfully captured the attention of sports stalwarts all over the world. More than 4500 athletes from more than 190 universities in India have participated in this competition. As [...]
Need framework to study impact of insolvency law: Corp affairs secretary
New Delhi, Apr 30 (PTI) Amid concerns in certain quarters that the insolvency law has led to more liquidations than resolutions of stressed assets, Corporate Affairs Secretary Rajesh Verma on Saturday pitched for having a framework to study the impact of the legislation. Emphasising that the government and regulator IBBI have been constantly making course [...]
Indian economy may take 12 yrs to recoup pandemic losses: RBI report
The Indian economy may take more than a decade to overcome the losses emanating from the COVID-19 pandemic, said a report published by the Reserve Bank of India. In an analysis of the impact of COVID-19 on the economy, the report has estimated the output losses during the pandemic period at around Rs 52 lakh [...]
Bacardi 1862 India – OML wins big at the Inkspell April Fest 2022 held on 29th April 2022
A Successful Wrap up of the Inkspell April Fest comprising of vIDEA Awards and Summit and The Unlocked Awards MUMBAI, India, April 30, 2022 /PRNewswire/ -- The 4th Annual Edition of Inkspell's Video Media Awards & Summit 2022 and the 2nd Annual Chapter of The Unlocked Awards 2022 in collaboration with the Global Trends Forum, [...]
Titan Eye+ Raises Awareness of Eye Health Issues by Creating a New GUINNESS WORLD RECORDS™ Title; Conducts 1 Lakh Eye Tests in 24 hours
With more than 50 Cr. Indians suffering from eye-related issues, Titan Eye+ is determined to raise awareness about eye health Bangalore, Karnataka, India (NewsVoir) Titan Eye+, India’s trusted eye care destination reaffirms its commitment to raising awareness of eye health issues by creating the GUINNESS WORLD RECORDS™ title for the “Most online eye screening tests [...]
TradeStars Launches Its Most Anticipated DFS Feature
Mumbai, Maharashtra, India – Business Wire India TradeStars has witnessed massive response and recognition concerning the launch of its brand new feature, the DFS (Daily Fantasy Sports). The much-awaited feature will now allow the platform users to participate in daily tournaments and DFS contests and earn digital and monetary rewards in ways they could’ve only [...]
Premature to attribute extreme heat in India, Pakistan solely to climate change but heatwaves more intense: WMO
United Nations, Apr 30 (PTI) As large parts of India and Pakistan experience scorching temperatures, the UN’s specialised agency on weather has said while it is premature to attribute the extreme heat in the two countries solely to climate change, it is consistent with a changing climate, with heatwaves starting earlier than in the past.Extreme [...]
Aviation Minister Scindia holds talks with US aerospace giants on bolstering alliance with India
New York, Apr 30 (PTI) Civil Aviation Minister Jyotiraditya Scindia held discussions with American aerospace giants on further strengthening collaboration with the industry in India. Scindia arrived here on Thursday for the first leg of his visit to North America and began his engagements with discussions with New York-based technology-powered, global air mobility platform Blade. [...]
Shell signs USD 1.55 billion deal to acquire India’s Sprng Energy group
Houston, Apr 30 (PTI) Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has signed an agreement with Actis Solenergi Limited (Actis) to acquire 100 per cent of Solenergi Power Private Limited for USD 1.55 billion and with it, the Sprng Energy group of companies. Solenergi Power Private Limited is incorporated in [...]
Rise in use of fans, ACs leading to surge in demand, causing power cuts in Mumbai: BEST
Mumbai, Apr 29 (PTI) The scorching weather has led to increase in the use of fans and air conditioners, leading to a surge in electricity demand and causing frequent power cuts in Mumbai, the country's financial capital, power utility BEST said on Friday.The civic-run Brihanmumbai Electric Supply and Transport (BEST), which supplies power to the [...]
CIL output grows 27 pc in April; despatch improves 5.8 pc: Coal ministry
Kolkata/New Delhi, Apr 29 (PTI) Public sector miner Coal India has reported an increase of 27.2 per cent in its output in April 2022 as compared to the year-ago period, coal ministry said on Friday. The despatch of coal also improved by 5.8 per cent year-on-year in April 2022. "Coal production by Coal India Ltd [...]
Amid heatwave, states continue to face power outages; Opposition blames Centre for coal shortage
New Delhi, Apr 29 (PTI) Various states continued to grapple with power shortages on Friday amid soaring mercury pushing the demand higher while opposition parties blamed the Centre for coal shortages at thermal plants. As the heatwave continued to intensify, the country's peak power demand met touched an all-time high of 207.11 GW on Friday [...]
Star9 Mobility Pvt Ltd to buy Govt’s 51% stake in Pawan Hans for Rs 211 cr
New Delhi, Apr 29 (PTI) The Finance Ministry on Friday said Star9 Mobility Pvt Ltd will buy the government's 51 per cent stake in helicopter services provider Pawan Hans Ltd (PHL), along with the transfer of management control, for Rs 211.14 crore. The reserve price for the strategic sale, which comes after three unsuccessful attempts, [...]
Union govt is trying to keep edible oil prices under control: minister
Pune, Apr 29 (PTI) Union Minister of State for Consumer Affairs, Food and Public Distribution Ashwini Kumar Choubey on Friday said the government is making efforts to keep the prices of edible oils under control.Speaking to reporters here, he also said that action is being taken against those involved in the hoarding of essential food [...]
Micron to hire over 1,800 engineers in three years
Bengaluru, Apr 29 (PTI) Storage chip company Micron on Friday said it sees growth opportunities in the country and plans to hire over 1,800 engineers in the next two to three years. During a virtual address at the Semicon India 2022 conference, Micron Technology President and CEO Sanjay Mehrotra said that the company sees the [...]
Sebi penalises three individuals for violating insider trading norms in Titan case
New Delhi, Apr 29 (PTI) Capital markets regulator Sebi on Friday penalised three individuals for flouting insider trading norms in the matter of Titan Company Ltd.A fine of Rs 1 lakh each has been imposed on Mahesh S, Manju Harilal Gupta and Praveen Joshi, according to three separate orders.The orders came after Sebi conducted an [...]
States doling out competitive subsidies on brink of fiscal collapse: Report
Mumbai, Apr 29 (PTI) Warning states against their competitive subsidies, research agency India Ratings has said five states, led by Punjab, are on the brink of a deep fiscal crisis as their subsidies are much higher than sustainable levels in terms of a percentage of GSDP.The other top states with a very high level of [...]
Wipro Q4 profit rises 4 pc to Rs 3,092 cr, revenue up 28pc
New Delhi, Apr 29 (PTI) IT company Wipro on Friday posted a 4 per cent increase in its consolidated profit to Rs 3,092.5 crore in the fourth quarter ended March 31, 2022, on account of continued demand for IT services. The company had registered a profit of Rs 2,974.1 crore in the same period a [...]
Applied Materials to invest Rs 1,500 cr in next 5 years
Bengaluru, Apr 29 (PTI) Semiconductor tools and technology firm Applied Materials plans to invest around Rs 1,500 crore over the next five years, a senior company official said on Friday. Applied Materials senior vice president for semiconductor products Prabu G Raja, at the Semicon India-2022 conference here, announced the next phase of expansion of the [...]
Non-food bank credit grew 9.7 pc in March: RBI data
Mumbai, Apr 29 (PTI) Non-food bank credit grew 9.7 per cent in March 2022 as compared to a rise of 4.5 per cent reported a year ago, according to RBI. Loans to agriculture and allied activities continued to perform well, registering a growth of 9.9 per cent in the reporting month. It was 10.5 per [...]
India’s peak power supply touches record level of 207GW on Friday
New Delhi, Apr 29 (PTI) India's peak power demand met or the highest supply in a day touched the all-time high of 207.11 GW on Friday amid ongoing heatwave sweeping through vast swathes of the country increasing demand for electricity. "The maximum All India demand met (peak supply) touched 207111 MW at 14:50hrs today, an [...]
Wipro will always stand by principle of democracy, justice, equality: CEO amid Ukraine crisis
New Delhi, Apr 29 (PTI) IT company Wipro on Friday said its employees are engaged in providing relief effort to people displaced due to the ongoing Ukraine-Russia conflict and the organisation will continue to stand by the principle of democracy, justice and equality. At a briefing after the company announced its latest quarterly results, Wipro [...]
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