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Solar stock in focus after receiving supply order for solar PV modules
Solar Energy stock which is India’s largest solar module manufacturer with a wide range of portfolio across various renewable energy segments in focus upon receiving work order to supply 600 Mwp of Solar PV Modules. Price Action With a market capitalization of Rs. 72,736 Crores, the shares of Waaree Energies Limited were trading at Rs. [...]
Telecom stocks to benefit after cabinet approves bank Guarantee Waiver worth ₹30,000 Cr
The telecom industry in India is one of the largest and fastest-growing sectors, driven by rapid technological advancements and a growing demand for mobile data and digital services. The industry is dominated by four major players: Reliance Jio, Bharti Airtel, Vodafone Idea, and BSNL/MTNL. These companies compete fiercely to offer affordable services, cutting-edge technology, and [...]
Bulk Deal: IT stock jumps 9% despite FII sold stake in the company
Shares of a leading IT provider specializing in innovative cloud and data management solutions for the enterprises sector in India surged nearly 9 percent on BSE to Rs. 431 on Tuesday, despite a foreign institutional investor (FII) sold shares worth a total of around Rs. 12.7 crores in the company via a bulk deal. With [...]
Stock hits upper circuit after executing master service agreement with HPCL
Microcap stock engaged in offering end-to-end gas distribution solutions, including management consultancy, project management, and many more hit a 2 percent upper circuit in the day’s trade upon executing a master service agreement with HPCL. Price Action With a market capitalization of Rs. 240 Crores, the shares of Positron Energy Limited hit a 2 percent [...]
Nuclear energy stock jumps 3% after it inaugurates manufacturing facility in Maharashtra
Nuclear energy stock engaged in designing and manufacturing high-precision & heavy-duty mechanical seals widely employed in various nuclear & thermal projects jumped upto 3 percent in the day’s trade following the expansion of production capacity. Price Action With a market capitalization of Rs. 507 Crores, the shares of Sealmatic India Limited were trading at Rs. [...]
Power stock jumps 10% after receiving work order from Power Grid
Midcap stock engaged in providing a comprehensive portfolio across the entire value chain of engineering, products, solutions, and services in areas of Power Technology, jumped upto 10 percent in the day’s trade upon receiving a work order from Power Grid Corporation of India Ltd. Price Action With a market capitalization of Rs. 52,808 Crores, the [...]
Mukul Agrawal stock jumps after announcing their business updates for October 2024
During Tuesday’s trading session, the shares of one of the leading players in the express logistics business globally surged nearly 2 percent to Rs. 53.21 on BSE, after reporting an increase of 5% in LCL (Less than Container Load) volume in October 2024. With a market cap of Rs. 5,205.8 crores, at 11:22 a.m., the [...]
NBFC stock jumps after company to raise ₹11,000 Cr through Non Convertible Debentures
The Non-Banking Financial Company (NBFC) sector in India plays a crucial role in driving the country’s economic growth by providing a wide range of financial services, such as loans, asset management, insurance, and wealth management. Unlike traditional banks, NBFCs are not allowed to take deposits but offer similar financial products, often focusing on underserved segments [...]
Solar stock held by BlackRock jumps 4% upon receiving order worth ₹1,087 Cr for solar modules
Solar energy stock held by BlackRock, engaged in manufacturing and supplying integrated solar cells and solar panels, along with providing EPC Solutions related to it jumped upto 4 percent in the day’s trade upon receiving work order worth Rs. 1,087 Crores for the supply of Solar Cells & Modules. Price Action With a market capitalization [...]
Auto ancillary stocks with low PE ratio to keep in your watchlist
One of the effective methods for assessing whether a stock is undervalued or overvalued is by analysing key metrics such as the Price-to-Earnings (P/E) ratio and the industry P/E average. The P/E ratio or Price-to-Earnings ratio compares the current share price to the earnings per share (EPS) of a company, serving as a widely recognised [...]
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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
Actis to sell Indian renewable energy platform to Shell for USD 1.55 bn
New Delhi, Apr 29 (PTI) London-based Actis on Friday said it will sell Sprng Energy to Shell Overseas Investments B.V (Shell) for USD 1.55 billion. Sprng Energy is a renewable energy platform set up in India in 2017 by Actis -- a global investor in sustainable infrastructure. In a statement issued here, Actis said it [...]
IndusInd Bank Q4 net profit jumps 51 pc on lower provisioning
Mumbai, Apr 29 (PTI) IndusInd Bank on Friday reported a 51 per cent jump in consolidated net profit to Rs 1,401 crore in the March 2022 quarter, mainly due to lower provisioning.The private sector lender's post-tax profit was Rs 4,805 crore for fiscal 2021-22, up from the Rs 2,930 crore.The core net interest income rose [...]
India launches pilot phase of open e-commerce network
New Delhi, Apr 29 (PTI) India on Friday launched the pilot phase of open network for digital commerce (ONDC), a UPI-type protocol, in five cities with an aim to democratise fast growing e-commerce sector, help small retailers and reduce dominance of online retail giants."After UPI, another game changing idea to democratise commerce - ONDC soft [...]
China to permit ‘some’ Indian students to return: Chinese Foreign Ministry
Beijing, Apr 29 (PTI) In a relief to thousands of Indian students enrolled in Chinese universities, China on Friday announced plans to allow the return of "some" of them who have been stranded in India for over two years following the visa and flight restrictions imposed by Beijing due to the COVID-19 pandemic.Indian students wanting [...]
Coal India logs impressive 27pc production growth in April
Kolkata, Apr 29 (PTI) Country's dry fuel mining behemoth Coal India has logged a 27 per cent jump in production this month till Thursday amid skyrocketing demand for the fuel. Coal India produced 49.6 million tonnes of coal till April 28 and was expected to produce around 53 million tonnes in the entire month, which [...]
Price stability precondition for strong, sustainable growth: RBI report
Mumbai, Apr 29 (PTI) Price stability is a necessary precondition for strong and sustainable growth, an RBI report said on Thursday while stressing a series of structural reforms to nurture a durable recovery post-COVID."A feasible range for medium-term steady-state GDP growth in India works out to 6.5 - 8.5 per cent, consistent with the blueprint [...]
India, UK asked to learn from US on mobility of researchers
London, Apr 29 (PTI) India and the UK must learn from the model followed by the US on encouraging scientific research by allowing a free flow of people and ideas, one of India’s leading scientific advisers has said.Professor K VijayRaghavan, who has just completed his tenure as the Principal Scientific Adviser to the government of [...]
L&T Finance Holdings Q4 profit up 28 pc at Rs 342 crore
New Delhi, Apr 29 (PTI) L&T Finance Holdings (LTFH) on Friday reported a 28 per cent rise in its consolidated net profit at Rs 342 crore for the quarter ended March. The company had posted a net profit of Rs 266 crore in the year-ago period. However, the total income declined to Rs 2,946.78 crore [...]
Lankan Prez Gotabaya extends invitation to form all-party govt to tide over worst financial crisis
Colombo, Apr 29 (PTI) Sri Lanka’s embattled President Gotabaya Rajapaksa on Friday extended an invitation to form an all-party government comprising all political parties represented in Parliament to address the unprecedented economic crisis in the island nation. He made the offer at the President's House here during a discussion with party leaders and representatives who [...]
Edible oil prices likely to rise in next few months: Report
Mumbai, Apr 29 (PTI) Edible oil prices are likely to witness a double-digit rise in the next few months compared to January this year, following geopolitical tensions and Indonesia's decision to ban crude palm oil exports, according to a report. India Ratings and Research (Ind-Ra) said Indonesia's decision on April 27 to include Crude Palm [...]
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, [...]
Raj Governor calls for conservation of indigenous cattle breeds
Jaipur, Apr 29 (PTI) Rajasthan Governor Kalraj Mishra on Friday called for conservation, propagation of indigenous breeds of cattle in the state and speeding up research and development of cow-based products. He said that in order to increase the income of cattle owners, it is necessary that they should get the benefit of research and [...]
DRI seizes 4 bags containing opiate derivative/heroin weighing 395 kg at Pipavav Port
New Delhi, Apr 29 (PTI) The Directorate of Revenue Intelligence has seized 4 bags containing opiate derivative/heroin weighing 395 kg at Pipavav port in Gujarat, the Finance Ministry said in a statement on Friday.Acting on intelligence jointly developed by DRI and ATS Gujarat, a container was examined by DRI at Pipavav port in the presence [...]
Ambuja Cements to expand capacities to meet increasing demand
New Delhi, Apr 29 (PTI) Ambuja Cements Ltd, part of Swiss building material major Holcim group, plans to increase cement capacities and move closer to its target of 50 million tonnes per annum in the near future. "Ambuja has ambitious growth plans to increase cement capacities. The company is well-positioned to meet the expanding demand, [...]
MGL hikes CNG price by Rs 4 per kg; spares domestic gas consumers
Mumbai, Apr 29 (PTI) Citing a steep hike of 110 per cent in the cost of natural gas supplies, city gas distributor MGL on Friday increased the retail price of automobile fuel CNG by Rs 4 per kg but left the rate of cooking gas unchanged. This is the third hike in the price of [...]
Cellex to launch advanced energy storage solution in June
Coimbatore (TN), Apr 29 (PTI) Cellex Battery Systems Pvt Ltd, a Coimbatore-based startup, is set to launch its advanced energy storage solution that will enter the commercial market in June this year. As part of Phase-1, Cellex plans to set up state-of-the-art energy storage solutions manufacturing facility in the city together with development of an [...]
Rainbow Children’s IPO subscribed 12.43 times on last day of offer
New Delhi, Apr 29 (PTI) The Rs 1,581-crore initial public offer of Rainbow Children's Medicare was subscribed 12.43 times on the last day of subscription on Friday. It received bids for 25,49,03,787 shares against 2,05,14,617 shares on offer, according to data available with the NSE. The category for Qualified Institutional Buyers (QIBs) got subscribed 38.90 [...]
Ind-Ra maintains neutral outlook for domestic base metals sector for FY23
New Delhi, Apr 29 (PTI) India Ratings and Research (Ind-Ra) on Friday said it has maintained a neutral outlook for the domestic base metals sector for the financial year 2022-23. Ind-Ra had upgraded its outlook for the sector to stable for 2021-22 fiscal, from negative in 2020-21. The ratings agency said it "has maintained a [...]
Reckitt’s revenue from developing markets rises 5.7 pc in Q1
New Delhi, Apr 29 (PTI) British FMCG major Reckitt's revenue from developing markets increased 5.7 per cent, helped by higher growth in India and China, among other areas, in the first quarter this year.While its toilet cleaner Harpic continued to register "strong growth" in the Indian market, helping the brands to report a 'high-single-digit' rise [...]
Nabard financial assistance to Odisha up by 40pc in FY22
Bhubaneswar, Apr 29 (PTI) National Bank for Agriculture and Rural Development said on Friday that it disbursed Rs 31,786 crore of loans in Odisha during the 2021-22 fiscal, an increase of 40 per cent over the previous year.The financial support comprised Rs 14,077 crore to banks for lending towards crop and term loans, and Rs [...]
MP govt to reimburse cost of infrastructure to EV manufacturers: CM Chouhan
Indore, Apr 29 (PTI) To attract investment in electric vehicles manufacturing in Madhya Pradesh, the state government will reimburse the cost of basic infrastructure and product patents to EV units, Chief Minister Shivraj Singh Chouhan said here on Friday. The state government will soon present its new investment promotion policy for the units producing EVs [...]
Packaging materials maker GLS forms JV with Norwegian co Elopak
Mumbai, Apr 29 (PTI) Gurugram-based packaging materials manufacturer GLS has roped in Norwegian firm Elopak to form an equal joint venture collectively investing 35 million euros to help augment sustainable packaging solutions in the domestic market. The joint venture GLS Elopak will leverage the respective expertise, assets and networks of GLS and Elopak to capitalize [...]
LIC IPO price attractive; lot of growth potential: Chairman Kumar
New Delhi, Apr 29 (PTI) LIC IPO pricing is very attractive and investors can look forward to returns in the years to come as the company has potential for growth, LIC Chairman MR Kumar said on Friday.More than the embedded value one should look at the value for new business (VNB) going forward, and it [...]
Core sector growth slows down to 4.3 pc in Mar; end FY22 with 10.4 pc expansion
New Delhi, Apr 29 (PTI) The production growth of eight infrastructure sectors slowed down to 4.3 per cent in March due to a decline in the output of coal and crude oil, though for the full 2021-22 fiscal, the core sector recorded a 10.4 per cent expansion, according to official data released on Friday. The [...]
Delhi HC restrains use of MakeMyTrip keyword on Google Ads Program
New Delhi, Apr 29 (PTI) The Delhi High Court has restrained Booking.com and Google from using the mark 'MakeMyTrip' as a keyword on the search engine's Ads Program. The high court said that allowing competitors and Google to encash upon the reputation of another entity's mark for their monetary advantage is not permissible. Justice Prathiba [...]
Inox Green Energy Services scraps IPO plans; withdraws draft papers
New Delhi, Apr 29 (PTI) Inox Wind on Friday said its arm Inox Green Energy Services Ltd (IGESL) has decided to withdraw its proposed Rs 740 crore initial share sale offer. The Initial Public Offering (IPO) was slated to issue fresh shares worth Rs 370 crore, besides an Offer for Sale (OFS) of equity stocks [...]
RBL Bank to raise up to USD 100 mn through bonds
New Delhi, Apr 29 (PTI) RBL Bank on Friday said its board has approved to raise up to USD 100 million by issuing US dollar denominated bonds. The board of directors of RBL Bank, at its meeting held on Friday, accorded its approval to raise or borrow monies by issue of USD denominated unsecured Tier [...]
Tata Chemicals profit surges to Rs 470.24 crore in Q4
Mumbai, Apr 29 (PTI) Tata Chemicals on Friday reported a multi-fold jump in consolidated profit after tax at Rs 470.24 crore for the quarter ended March. The company's profit after tax stood at Rs 29.26 crore in the year-ago period, According to a regulatory filing, the consolidated income from operations grew 32 per cent during [...]
FinMin, Sebi to take call on relaxation in LIC meeting minimum public holding norm: DIPAM Secy
New Delhi, Apr 29 (PTI) The Finance Ministry will discuss with market regulator Sebi to exempt LIC from the minimum public shareholding norm, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Friday.Under the Sebi's minimum public shareholding norms, listed entities with a valuation of over one lakh crore need [...]
Portugal welcomes back Indian visitors
Mumbai, Apr 29 (PTI) The Portugal government has opened its doors for tourists from India who will be required to present a negative RT-PCR test 72 hours before boarding, Visit Portugal said on Friday. Visitors arriving on the mainland Portugal from India, will be required to present a negative RT-PCR Test (or similar NAAT test) [...]
Haryana CM meets power minister to discuss measures for uninterrupted power supply
New Delhi, Apr 29 (PTI) Haryana Chief Minister Manohar Lal Khattar on Friday called on Union power minister R K Singh and discussed measures required for uninterrupted supply of electricity in the state. "Manohar Lal Khattar, Chief Minister of Haryana, had a meeting today with R K Singh, Union Minister of Power and New & [...]
India-Bhutan development cooperation unique, prompted by moral principles and emotional bonds: Jaishankar
Thimphu, Apr 29 (PTI) The India-Bhutan relationship is based on a genuine concern for each other’s welfare and interests, External Affairs Minister S Jaishankar said here on Friday, asserting that New Delhi’s development cooperation paradigm with the Himalayan nation is unique, prompted by moral principles and emotional bonds. Jaishankar, who is here on an official [...]
Go First to restart Srinagar-Sharjah flights in next few days
New Delhi, Apr 29 (PTI) Go First on Friday got the bilateral rights to operate Srinagar-Sharjah flights which the airline said it will restart in the next few days.Go First had stopped operating the Srinagar-Sharjah flights on March 27 due to the lack of bilateral rights, which are granted under air services agreements signed between [...]
IndusInd Bank quarterly profit jumps 51 pc to Rs 1,401 crore
New Delhi, Apr 29 (PTI) IndusInd Bank on Friday reported a 51 per cent increase in consolidated net profit at Rs 1,400.64 crore in the three months ended March. The private sector lender had posted a net profit of Rs 926.22 crore in the same quarter of the previous fiscal year. In the fourth quarter [...]
Goldi Solar to hire over 2,000 people by 2025
New Delhi, Apr 29 (PTI) Solar energy solutions provider Goldi Solar on Friday said it plans to train and hire over 2,000 people by 2025. The company will also roll out an initiative to support young micro-entrepreneurs who have innovative ideas for the solar sector. "Goldi Solar, a global solar panel manufacturer and EPC provider [...]
NPK subsidy rate revision positive for fertiliser sector: Ind-Ra
Mumbai, Apr 29 (PTI) The recent hike in the subsidy for NPK fertilisers to Rs 60,900 crore for the first half of this financial year, which is way above the budget for this year, is a positive step for the fertiliser sector, India Ratings and Research (Ind-Ra) said in a report. Around Rs 42,000 crore [...]
Govt may not auction 27.5-28.5 Ghz band, leave it for satellite firms
New Delhi, Apr 29 (PTI) The government may not auction spectrum frequency range between 27.5-28.5 gigahertz and leave it for satellite services, according to official sources.The Telecom Regulatory Authority of India (Trai) had recommended a base price for this frequency range and suggested that it can be used for both mobile as well as satellite [...]
FinTech to Rule the Job Market in India with 87 percent Adoption of FinTech Services
Market to expand to USD 150 billion giving impetus to FinTech careers Bengaluru, Karnataka, India (NewsVoir) The Banking, Finance Services, and Insurance (BFSI) industry have taken a quantum leap in transitioning to FinTech products and services. This includes an accelerated adoption to go digital and contactless owing to the pandemic and the consequent lockdown. India’s [...]
IRDAI raises investment limit for insurers in BFSI sector to 30%
New Delhi, Apr 29 (PTI) Regulator IRDAI on Friday increased the investment limit by insurance companies in financial and insurance activities to 30 per cent from the existing 25 per cent, a move aimed at providing greater flexibility to insurers to park their funds for better returns. "The authority... permits all insurers to have exposure [...]
Yakult Danone India appoints Hiroshi Hamada as Managing Director
New Delhi, Apr 29 (PTI) Yakult Danone India on Friday said it has appointed Hiroshi Hamada as its Managing Director. The appointment is effective from April 4. Hamada took charge from Minoru Shimada, who had led the company for over 10 years, Yakult Danone India, which sell probiotic drink Yakult, said in a statement. Hamada [...]
Turtlemint raises $120 million from Amansa, Jungle Ventures and others
New Delhi, Apr 29 (PTI) Insurance technology platform Turtlemint on Friday said it raised USD 120 million in the latest funding round led by Amansa Capital, Jungle Ventures and Nexus Venture Partners. The fundraise also saw participation from new investors, Vitruvian Partners and Marshall Wace, along with existing investors. With this, the total funding raised [...]
BULLION CLOSING RATE
BULLION CLOSING RATE MUMBAI, APRIL 29 (PTI) MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 64,750.00 64,774.00 STANDARD GOLD (99.5) : 51,795.00 51,847.00 PURE GOLD (99.9) : 52,003.00 52,055.00 -------------------- PTI MUM SSBSSB SSB
Tax collection must be user-friendly, says Naidu; cites analogy of bees extracting nectar without harming flowers
Nagpur, Apr 29 (PTI) Vice President M Venkaiah Naidu on Friday said taxes needed to be collected to increase revenue but it must be done in a manner which is not arbitrary and unjust but transparent and user-friendly. Addressing the valediction ceremony of the 74th Batch of IRS (Income Tax) at NADT (National Academy of [...]
IDBI Bank privatisation process on; decision on quantum of dilution after roadshow: DIPAM Secy
New Delhi, Apr 29 (PTI) IDBI Bank's privatisation process is on and the quantum of stake sale will be decided after the roadshow is complete, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Friday.The preparation for privatisation of IDBI Bank is going on, he said during a media interaction [...]
Fineotex Chemical Limited continues robust growth, EBITDA up by 76%
Operational revenue and dividend increase by 69% and 33% respectively in FY 2022 Y-o-Y MUMBAI, India, April 29, 2022 /PRNewswire/ -- Fineotex Chemical Limited (FCL), one of India's leading and most progressive specialty chemical producer with a market leading position in international textile industry has announced robust financial numbers in Q4FY22. HIGHLIGHTS OF CONSOLIDATED BUSINESS [...]
University of Canberra No. 1 in the World for Reducing Inequalities, for the Second Year Running
New Delhi, Delhi, India (NewsVoir) The University of Canberra has retained top global placing in the 2022 Times Higher Education (THE) Impact Rankings for reducing inequalities for the second year in a row, reflecting its commitment to driving equity and sustainable change. The THE Impact Rankings is a globally unique system which rates how universities [...]
Anubhav Anusha Founder of GeneStore and PathStore Launches a Center of Excellence for Molecular Diagnostics and Proteomics to Enable Affordable Diagnostics for Infectious Diseases in India
• GeneStore is an Indian origin French MNC focused on research and development of affordable infectious disease diagnostics.• GeneStore is known for enabling a price disruption during the COVID-19 pandemic which has saved the Indian and French healthcare systems over 5 billion Euros in costs.• Anubhav Anusha, GeneStore's Founder, has launched a state-of-the-art facility for [...]
Axis Bank shares tumble 6.5 pc
New Delhi, Apr 29 (PTI) Shares of Axis Bank tumbled nearly 6.5 per cent on Friday despite the lender reporting a nearly 50 per cent jump in quarterly net profit. The stock tanked 6.57 per cent to settle at Rs 728.70 apiece on the BSE. During the day, it declined 7.04 per cent to Rs [...]
Mumbai-based realtor Sanjay Chhabriaa sent to CBI custody till May 6 in Yes Bank-DHFL case
Mumbai, Apr 29 (PTI) A special court in Mumbai on Friday remanded city-based realtor Sanjay Chhabriaa in CBI custody till May 6 in connection with a case of alleged corruption against Yes Bank founder Rana Kapoor and Dewan Housing Finance Corporation Ltd (DHFL). Chhabriaa of Radius Developers was arrested by the Central Bureau of Investigation [...]
NGSL to explore business opportunities in renewable sector in Africa
New Delhi, Apr 29 (PTI) NTPC GE Power Services has inked an agreement with the Lake Region Economic Bloc to explore business opportunities in the renewable sector in Africa."NTPC GE Power Services Limited (NGSL), a 50:50 JV between NTPC and GE Power India Ltd, has signed a Memorandum of Engagement (MoE) with The Lake Region [...]
Tata Motors unveils new electric vehicle architecture
New Delhi, Apr 29 (PTI) Tata Motors on Friday unveiled its all new electric vehicle architecture on which it plans to introduce multiple advanced EVs starting from 2025. The home-grown auto major, which currently leads the domestic electric passenger vehicle segment by a distance, aims to drive in multiple body styles on the AVINYA Concept, [...]
Make India semiconductor hub of the world; country has appetite for risk-taking, tech: Modi
Asserting that the government has put in place a supportive policy environment, Prime Minister Narendra Modi on Friday urged the industry to make India a semiconductor hub of the world based on the principles of high technology, high quality and high reliability. In his inaugural address at the Semicon India-2022 conference here, Modi said the [...]
Rising COVID cases early hints of 4th wave; will not impact growth in near-term: Nomura
Mumbai, Apr 29 (PTI) Rising cases are "early hints" of a fourth wave of the COVID-19 pandemic but do not pose any near-term risk to India's economic growth, a Japanese brokerage said on Friday. However from a medium-term perspective, there are headwinds for growth like high inflation, weak private capex and slower global growth, Nomura [...]
ISMA Director General Abinash Verma resigns
New Delhi, Apr 29 (PTI) Indian Sugar Mills Association (ISMA) on Friday said its Director General Abinash Verma has resigned from his post with effect from April 27. "Abinash Verma has resigned from the post of Director General of ISMA, w.e.f. 27th April 2022. The same has been accepted," the association said in a statement. [...]
US to continue engaging with India over Ukraine: White House says ahead of Quad Summit in May
Washington, Apr 29 (PTI) The US is engaging with India over the issue of Ukraine and this will continue at the Quad summit when President Joe Biden meets Prime Minister Narendra Modi in Japan next month, White House Press Secretary Jen Psaki has indicated. "We have had a number of engagements, as you know, with [...]
PEPER COPRA CLOSING RATE
MUMBAI, APR 29 (PTI) Mumbai :- PEPPER COPRA RATES :- BLACK PEPPER READY 560 / 620 GINGER BLEACHED -- GINGER UNBLEACHED 155 COPRA OFFICE ALAPUZHA 96000 COPRA OFFICE KOZIZODE 94000 COPRA RAJAPUR MUMBAI 18500 COPRA EDIBLE MUMBAI 13500 COCHIN COCONUT OIL ---- COCONUT OIL MUMBAI 1850 T.P ------------ PTI MUM SSB SSB SSB
COMMODITY PRICES
APRIL 29, 2022 MUMBAI, (PTI) DEOILED CAKES (per M.T.) G.N.Extr.45% 37000.00 Kardi Extr - Sesame Extr - Cottonseed Extr - Undec Cottonseed 36500.00 Rice Bran Extr. - Sunflower Extr. 26000.00 Rapeseed Extr. - Soyameal 48% 59478.00 Castor Extr. 9150.00 OIL SEEDS (per 100 Kgs) Gr. Kernel 8375.00 Gr. Bolds 60/70 8800.00 Gr. Javas 60/70 9900.00 [...]
NTPC’s Dadri, Unchahar thermal plants running at 100 per cent capacity amid ongoing power crisis
New Delhi, Apr 29 (PTI) State-run power giant NTPC on Friday said that almost all units of its Unchahar and Dadri power plants are running at 100 per cent capacity. The statement assumes importance amid the ongoing power crisis when thermal plant are dealing with coal shortages and state utilities are opting for load shedding [...]
Bank credit likely to grow at 4-year high of 11-12% in FY23: Report
Mumbai, Apr 29 (PTI) Bank credit is likely to grow at a four-year high of 11-12 per cent in fiscal 2023, on the back of better economic growth and budgetary support from the government, according to a report.In the fiscal ended March 2022, bank advances have likely grown at 9-10 per cent."Healthy economic growth and [...]
Two govt nominee directors join board of IDBI Bank
New Delhi, Apr 29 (PTI) IDBI Bank on Friday said its board has approved the appointment of two government nominee directors with effect from April 28. The government nominee directors are Manoj Sahay, Joint Secretary and Financial Advisor, and Sushil Kumar Singh, Director, Department of Financial Services, Ministry of Finance, according to a regulatory filing. [...]
Lack of coordination among ministries responsible for coal shortage, says AIPEF
New Delhi, Apr 29 (PTI) The lack of coordination amongst ministries of coal, railways and power is responsible for coal shortage which caused power outages across the country, the All India Power Engineers Federation (AIPEF) claimed on Friday. "The power outages across the country due to coal shortage are due to the lack of coordination [...]
IndiaFirst Life gross premium rises 28% to Rs 5,187cr in FY22
New Delhi, Apr 29 (PTI) IndiaFirst Life Insurance Company Ltd (IndiaFirst Life) on Friday said it registered a 28 per cent jump in its gross premium income to Rs 5,187 crore in the fiscal year ended in March 2022. "Our gross premium has jumped 28 per cent from FY21 and crossed Rs 5,187 crore in [...]
OILSEEDS PRICES
APRIL 29, 2022 MUMBAI, (PTI) DEOILED CAKES (per M.T.) G.N.Extr.45% 37000.00 Kardi Extr - Sesame Extr - Cottonseed Extr - Undec Cottonseed 36500.00 Rice Bran Extr. - Sunflower Extr. 26000.00 Rapeseed Extr. - Soyameal 48% 59478.00 Castor Extr. 9150.00 OIL SEEDS (per 100 Kgs) Gr. Kernel 8375.00 Gr. Bolds 60/70 8800.00 Gr. Javas 60/70 9900.00 [...]
AGCO launching Digital Capability Center in Bengaluru
• New digital capability center in Bengaluru • Deloitte India to provide end-to-end services to set up and scale this center BENGALURU, India, April 29, 2022 /PRNewswire/ -- AGCO Corporation, Your Agriculture Company, (NYSE: AGCO), a worldwide manufacturer and distributor of agricultural machinery and precision Ag technology, is initiating a Digital Capability Center in Bengaluru, [...]
HDFC Life becomes Signatory to United Nations – Supported Principles for Responsible Investment
Mumbai, Maharashtra, India (NewsVoir) • Testament to our commitment towards environmental, social and governance factors (ESG) and investing responsibly • Joined the network of 4,000+ organisations worldwide, that have publicly demonstrated commitment to responsible investment HDFC Life recently signed up for the UN-supported Principles for Responsible Investment (PRI), epitomising its objective of sustainable growth and [...]
Chitkara University Dominates Times Higher Education World University Rankings-2022
Chandigarh, India (NewsVoir) Chitkara University has been ranked 4th in India in the Times Higher Education (THE) World University Rankings-2022 and is among the top 5 in almost every individual United Nations’ Sustainable Development Goals (SDGs). The University has taken a quantum leap in Global rankings also and is now ranked between 201 to 300 [...]
KnowDis, IIT Delhi chemical engineering dept tie up for AI model for drug discovery
New Delhi, Apr 29 (PTI) AI products company KnowDis and IIT Delhi's chemical engineering department have joined hands to develop artificial intelligence-based models that could help discover drugs for treating brain diseases, a statement said on Friday. The collaboration aims to develop an algorithm that will predict, with high-throughput, antibodies effective in treating neurodegenerative diseases [...]
Maruti Suzuki Q4 Results: Consolidated net profit soars 51% to Rs 1,875 cr
The country's largest carmaker Maruti Suzuki India on Friday reported a 51.14 per cent jump in consolidated net profit to Rs 1,875.8 crore in the fourth quarter ended on March 31, 2022. The company had posted a consolidated net profit of Rs 1,241.1 crore in the same period of the previous fiscal, Maruti Suzuki India [...]
UltraTech Q4 Results: Consolidated net profit up 47%
Aditya Birla group firm UltraTech Cement on Friday reported an increase of 47.32 per cent in its consolidated net profit at Rs 2,613.75 crore for the fourth quarter ended March 2022, led by improved demand situation and effective capacity utilisation. Its revenue from operations for the financial year ended on March 31, 2022, was at [...]
Varun Beverages net profit jumps 98% YoY; Announces bonus of 1:2
Varun Beverages Ltd, PepsiCo's largest franchise bottler, has reported a nearly two-fold jump in consolidated net profit to Rs 271.09 crore for the first quarter ended March 2022, driven by volume growth and improved revenue. The company, which follows the calendar year as its financial year, had posted a net profit of Rs 136.75 crore [...]
Excitel to invest Rs 38 cr for expansion in Mumbai
Mumbai, Apr 29 (PTI) Internet service provider (ISP) Excitel is planning to invest USD 5 million (about Rs 38 crore) in the current year for expansion of its services in the financial capital Mumbai, a top company official said. The company offering broadband services has entered Mumbai, taking its overall network to 29 cities and [...]
JM Financial elevates Sonia Dasgupta as CEO of investment banking vertical
Mumbai, Apr 29 (PTI) JM Financial has elevated Sonia Dasgupta as the chief executive of its investment banking vertical.Dasgupta has been associated with the company since 1995 in different capacities and succeeds Adi Patel and Atul Mehra, who were co-heads. She has over 25 years of experience in the investment banking space.Vishal Kampani, non-executive vice-chairman [...]
Approval to chip makers likely in 6-8 months: Ashwini Vaishnaw
The government expects to grant approvals to electronic chip makers in the next 6-8 months as it looks to encourage domestic manufacturing of semiconductors, union minister Ashwini Vaishnaw said on Friday. Speaking at the Semicon India-2022 conference here, Vaishnaw said it will be done in "the next 6-8 months". Minister of state for electronics and [...]
Vedanta in a race to become India’s first chip maker; Declares 3150% dividend after Q4 results
The oils to metals conglomerate, Vedanta had announced plans to form a joint venture with Taiwan's Foxconn to support Prime Minister Narendra Modi's plans to make India a semiconductor manufacturing hub, in February this year. The company is seeking various incentives and 1000 acres (405 hectares) of free land from states for its $20 billion [...]
Country on way to reaching USD 300 bn worth electronic goods manufacturing: Union Minister Vaishnaw
Bengaluru, Apr 29 (PTI) Union Minister Ashwini Vaishnaw on Friday said the country is already manufacturing electronic goods worth USD 76 billion and is on the way to reaching USD 300 billion. He also said developing a semiconductor industry is not a sprint but a marathon and that the government is for it. "We are [...]
Guar gum futures gain on spot demand
New Delhi, Apr 29 (PTI) Guar gum prices on Friday gained Rs 32 to Rs 12,528 per five quintals in futures trade as speculators increased their holdings on spot demand. On the National Commodity and Derivatives Exchange, guar gum contracts for May delivery traded higher by Rs 32 or 0.26 per cent at Rs 12,528 [...]
Guar seed futures rise on spot demand
New Delhi, Apr 29 (PTI) Guar seed prices on Friday rose by Rs 22 to Rs 6,343 per 10 quintals in the futures trade after speculators increased their positions driven by a firm trend in spot market. On the National Commodity and Derivatives Exchange, guar seed contracts for May delivery increased by Rs 22 or [...]
Crude oil futures gain on spot demand
New Delhi, Apr 29 (PTI) Crude oil prices on Friday rose by Rs 23 to Rs 8,060 per barrel as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 23 or 0.29 per cent at Rs 8,060 per barrel in 6,972 [...]
Varroc Engineering sells 4-wheeler lighting systems operations in US, Europe for 600 mn euros
New Delhi, Apr 29 (PTI) Auto components maker Varroc Engineering Ltd (VEL) on Friday said it is selling its four-wheeler lighting systems operations in the Americas and Europe to France's Compagnie Plastic Omnium SE for 600 million euros (over Rs 4,830 crore). The divestment is part of VEL's strategy to align its resources with the [...]
Chip shortage: Hero Electric reports zero dispatches in Apr
New Delhi, Apr 29 (PTI) Electric two-wheeler maker Hero Electric on Friday said it had zero dispatches to dealers in April, hit by the ongoing global semiconductor shortage that led to stoppage of production. The company experienced extreme chip shortage and supply chain constraints, Hero Electric said in a statement. The automotive industry is still [...]
Spirits major Pernod Ricard clocks 19 per cent growth in Indian market in Jan-March
New Delhi, Apr 29 (PTI) French spirits major Pernod Ricard witnessed a strong growth of 19 per cent in the Indian market in March quarter on the back of a "solid premiumisation" in its portfolio. Some of its key brands such as Royal Stag, Blenders Pride and 100 Pipers had a very dynamic performance in [...]
Shoolini among Top 200 Global Universities in THE world
Ranked No. 2 for Affordable and Clean Energy and No. 6 for Water Usage and Care category CHANDIGARH, India, April 29, 2022 /PRNewswire/ -- In a monumental achievement, Shoolini University has emerged among the top 200 global universities in the Times Higher Education (THE) Impact Rankings 2022. The prestigious rankings, announced on Wednesday night by [...]
NEWSALERT
PM Modi asks business community to form team of entrepreneurs and experts to suggest reforms in banking, other sectors. PTI COR PD NP NP
Jindal Internship Fair offers internship opportunities with 200+ organisations
Sonipat, April 29, 2022: The 6th edition of the Jindal Internship Fair, organised by the Office of Career Services (OCS) at the O.P. Jindal Global University, was an incredible success with over 200 organisations participating in the 5-day fair including 19 organisations which visited the campus for conducting the recruitment process. The fair attracted more [...]
Our Africa by Merck Foundation TV Program – Second Episode on Ending Child Marriage and Supporting Girl Education in Africa
Mumbai, Maharashtra, India & Kampala, Uganda– Business Wire India Merck Foundation, the philanthropic arm of Merck KGaA Germany has launched the Second Episode of their first-ever TV program – ‘Our Africa by Merck Foundation’ on Saturday, 23rd April 2022 on KTN, Kenya and Sunday, 24th April on NTV, Uganda. The theme for the Second Episode [...]
The ‘digital town square’? What does it mean when billionaires own the online spaces where we gather?
Brisbane, Apr 29 (The Conversation) The world's richest man, Elon Musk, seems set to purchase the social media platform Twitter for around USD 44 billion. He says he's not doing it to make money (which is good, because Twitter has rarely turned a profit), but rather because, among other things, he believes in free speech. [...]
MUM BULLION OPENING RATES
MUMBAI, APR 29 (PTI) OPENING RATES SILVER SPOT (IN RS PER KILO) : 64750.00 STANDARD GOLD (99.5) : 51795.00 PURE GOLD (99.9) : 52003.00 ------------ PTI MUMSVC SVC
Prototyze Launches Report Yak: A Fresh Take on Annual Reports
Goa, India – Business Wire India Venture studio Prototyze has announced the launch of Report Yak (www.reportyak.com), a specialised communication-design company focused on creating corporate reports. The corporate reporting function of businesses globally, is growing in compliance-related complexity. Additional frameworks and standards of disclosure are constantly being mandated by regulators around the world. And the [...]
Govt may not auction 27.5-28.5 Ghz band, leave it for satellite firms
New Delhi, Apr 29 (PTI) The government may not auction spectrum frequency range between 27.5-28.5 gigahertz and leave it for satellite services, according to official sources. The Telecom Regulatory Authority of India (Trai) had recommended a base price for this frequency range and suggested that it can be used for both mobile as well as [...]
Annie: The world’s First Braille Literacy Solution gets Recognition from the Indian Government and is Invited to the Raisina Dialogue
Bangalore, Karnataka, India (NewsVoir) • Annie, a Thinkerbell Labs product, has tied up with several national and international government agencies to provide self-learning devices for learners with visual impairment.• The start-up also bagged The National Start-up Award 2021 in the Access to Institutional Education Category which was announced this year Annie, the world’s first tech-enabled [...]
Pharma Stock giving bonus of 4:1 turns ex-bonus on 12 May
The share price of Vikram Thermo (India) Limited has increased by 21.9% in the last 28 days. At a meeting held on April 01, 2022, the Board of the company approved the increase in authorised share capital to Rs 32 crore divided into 3.20 crore equity shares of Rs 10 each. Further, it also approved [...]
This Akshaya Tritiya bring Home Prosperity and Good Luck with Pure, Naturally White – Platinum
Mumbai, Maharashtra, India (NewsVoir) 'Akshaya Tritiya’ – an occasion ushering infinite auspiciousness is celebrated on the third day of the Shukla Paksha of the Indian month of Vaisakh and is known for marking new beginnings in one’s life. This occasion is symbolic of good luck, success and fortune gains. This year, Akshaya Tritiya will be [...]
Embassy REIT Announces FY2022 Results, Delivers on Enhanced Leasing and Distribution Guidance
Bangalore, Karnataka, India – Business Wire India • Leases 2.2 msf at 18% positive spreads, achieves 14% rent escalations on 7.7 msf deals across 89 deals • Grows Net Operating Income by 23% YoY, distributes Rs. 2,063 crores to Unitholders with 82% tax-free • Delivers 1.1 msf JP Morgan campus at Embassy TechVillage, ramps-up new [...]
SBI-DIRECT EXCHANGE RATES
MUMBAI, APR 29 (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 75.85 77.35 75.79 77.51 EUR/INR 79.19 81.92 79.12 82.08 GBP/INR 94.09 97.16 94.02 97.35 JPY/INR 57.74 59.58 57.70 59.69 [...]
Sri Lanka ruling party dissidents brief India on political impasse
Colombo, Apr 29 (PTI) A delegation of the ruling SLPP coalition dissidents representing the former President Maithripala Sirisena-led SLFP, has met the Indian High Commissioner in Sri Lanka Gopal Baglay and briefed him on the current political impasse in the country and plans for an interim government arrangement to address the worst economic meltdown.Sri Lanka [...]
Capacit’e Infraprojects bags orders worth Rs 827 cr
New Delhi, Apr 29 (PTI) Construction firm Capacit'e Infraprojects on Friday said it has bagged new work orders worth Rs 827 crore. With this, the company's orderbook has exceeded Rs 9,000 crore-mark, Capacit'e Infraprojects said in a statement. The company said it "has received projects worth Rs 827 crore (excluding GST) from prominent public and [...]
Axis Bank shares tumble over 5% after earnings announcement
Shares of Axis Bank tumbled over 5 per cent in early trade on Friday a day after the company reported a 49.77 per cent jump in its consolidated net profit for the March quarter. The stock tanked 5.23 per cent to Rs 739.10 on the BSE. At the NSE, it tumbled 5.21 per cent to [...]
RBI-MONEY MARKET OPERTIONS
Mumbai, April 29 (PTI) Money Market Operations as on April 28, 2022 (Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume Weighted (One Leg) Average Rate RANGE A. Overnight Segment 500,864.87 3.77 0.50-3.95 I. Call Money 11,548.58 3.64 2.30-3.95 II. Triparty Repo 367,466.75 3.81 3.74-3.95 III. Market Repo 121,849.54 3.67 0.50-3.95 IV. Repo [...]
MUM PEPPER COPRA OPENING RATES
MUMBAI, APR 29 (PTI) Mumbai :- PEPPER COPRA RATES :- BLACK PEPPER READY 560 / 620 GINGER BLEACHED -- GINGER UNBLEACHED 155 COPRA OFFICE ALAPUZHA 96000 COPRA OFFICE KOZIZODE 94000 COPRA RAJAPUR MUMBAI 18500 COPRA EDIBLE MUMBAI 13500 COCHIN COCONUT OIL ---- COCONUT OIL MUMBAI 1850 T.P ------------ PTI MUM SVC SVC
Wipro GE Healthcare Launches ‘Made in India’ CT System to Strengthen Access to Quality Healthcare Across India
• Revolution Aspire CT System is manufactured at the company's new plant launched under the government's Production Linked Incentives (PLI) Scheme and is aligned to government's vision of 'Atmanirbhar Bharat' • Aims at enabling access to quality diagnosis across India, including tier 2 & tier 3 cities • Greater clinical efficiency with enhanced image quality [...]
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