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4 Large cap stocks in which FIIs have decreased their stake by up to 12% in Q2
FIIs are crucial to stock markets as they provide liquidity, boost investor confidence, and stabilize prices by injecting substantial capital, however, they also introduce vulnerabilities tied to the global economic landscape. This dual role makes managing and balancing FII involvement essential for the stability of any stock market. Due to the ongoing global tensions, While [...]
Stock that holds 90% market share in automobile aesthetics to add to your watchlist
This Auto component company, which does design-to-delivery in aesthetics solutions, and a provider with the ability to design, manufacture, and develop a product portfolio for a variety range of clients primarily in the consumer appliance and automotive industries. Price Movement S.J.S. Enterprises Limited's stock in Tuesday’s session closed at Rs. 1113.30 per share down by [...]
3 Large cap stocks that might come up with an IPO in 2025
India's capital markets are poised for significant action with three major subsidiaries of corporate giants planning their public debuts. These offerings, collectively worth billions of dollars, represent key sectors driving India's economic growth: financial services, telecommunications, and electric mobility. Their listings could reshape market dynamics and offer investors unique opportunities in India's evolving business landscape. [...]
Tata group stocks with 3 years net profit CAGR of up to 128% to keep an eye on
The Tata Group, a trusted name in Indian business, has consistently delivered strong financial performance across its diverse portfolio of companies. Among its numerous listed entities, three standout stocks have demonstrated more than 30% impressive compound annual growth rate (CAGR) in profits over the past three years. These companies reflect the Tata Group's focus on [...]
4 Stocks that delivers hybrid energy projects to keep an eye on
Investing in solar-wind hybrid energy stocks offers multiple benefits. These systems provide a more consistent power supply by unlocking value in both solar and wind energy, which can compensate for each other's fluctuations. They also reduce carbon emissions, lower electricity costs, and improve energy reliability, contributing to a sustainable future in renewable energy. Listed below [...]
3 Stocks in the business of battery energy storage systems
Battery Energy Storage Systems (BESS) are advanced technologies designed to store electrical energy for later use, primarily utilising rechargeable batteries. These systems play a crucial role in modern energy management by capturing energy from various sources, including renewable (like solar and wind) and non-renewable sources, and discharging it when needed. India has launched a Viability [...]
Swiggy receives sell call for downside of 20%; Check here to know why
The future of food delivery and quick commerce in India looks promising, with the market projected to grow significantly. Quick commerce is expected to reach approx $9.95 billion by 2029, driven by urbanization and a demand for convenience. Consumers increasingly prefer especially young generation for instant delivery, for which the competitive landscape among platforms like [...]
3 Stocks trading ex-bonus next week to keep an eye on
A bonus issue refers to the allocation of additional shares to existing shareholders at no extra cost, typically based on their current holdings. Companies utilize this method to reward shareholders, enhance liquidity, and reflect financial health, converting retained earnings into share capital instead of distributing cash dividends. Here are the stocks that are issuing bonuses [...]
Dolly Khanna stock in focus after JV with Sievert Baustoffe for construction chemicals
Dolly Khanna stock India's largest producer of white minerals offering innovative products in the field of Functional fillers, Extenders, and Speciality chemicals in focus following the incorporation of a JV firm to carry on the business of production of Construction Chemicals and Building Material products. Price Action With a market capitalization of Rs. 801 Crores, [...]
Stock Jumps 4% after company in talks with Ministry of Defence for Artillery Gun System
The Indian defense sector has witnessed significant growth over the past few years, driven by the government's focus on self-reliance through the "Atmanirbhar Bharat" initiative. With increasing defense budgets and strategic emphasis on modernizing military equipment, India is actively promoting indigenous defense manufacturing. Key players in this sector include Bharat Electronics Limited (BEL), known for [...]
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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
Canon launches ‘Cinema Excellence Suite’, an industry-first experiential concept- ‘Excellence in Motion’ for the film industry
- The Cinema Excellence Suite will move across the streets of Mumbai over a period of three months covering different locations, beginning with Film City - Aims to familiarise members of the film industry including cinematographers, DOPs, filmmakers to the entire production workflow – from shoot to file delivery MUMBAI, India, April 25, 2022 /PRNewswire/ [...]
Sprig Launches Its Range of Back Covers for Mobile Phones Made out of Environmentally Sustainable Liquid Silicone Material
Bangalore, Karnataka, India – Business Wire India Sprig, a mobile accessory brand has launched its premium variety of Liquid Silicone Back Covers on a range of iPhone, Samsung, Oneplus, Mi, Motorola & many more models. Sprig Liquid Silicone Back covers are made out of Silica material derived from sand which is environmentally friendly and sustainable. [...]
SBI Card engages TCS for digital transformation
Mumbai, Apr 25 (PTI) TCS on Monday said it has signed a deal with SBI Card that will help digitalise and transform online onboarding processes of the latter's customers and will further enable the client to expand its e-card issuance. It, however, did not disclose value of the deal. TCS has been serving the largest [...]
Shares of Adani Wilmar surged 4.99%; Axis Direct gives a target
The shares of Adani Wilmar surged 4.84% to ₹ 763.90 apiece on Monday’s early trade after Indonesia banned palm oil exports. Adani Wilmar has a chance to get margin benefits as the ban will drive oil prices higher and the company has a lot of unsold inventory. Indonesia is the world’s top palm oil producer [...]
BULLION OPENING RATE
BULLION OPENING RATE MUMBAI, APRIL 25 (PTI) MUMBAI BULLION :- OPENING SILVER SPOT (IN RS PER KILO) : 65,492.00 STANDARD GOLD (99.5) : 52,010.00 PURE GOLD (99.9) : 52,219.00 -------------------- PTI MUM SSB SSB SSB
MG Motor India partners with BPCL to bolster EV charging infrastructure
New Delhi, Apr 25 (PTI) Automaker MG Motor India on Monday said it has partnered with Bharat Petroleum Corporation Ltd (BPCL) to bolster EV charging infrastructure across the country. The partnership with BPCL will add momentum to EV adoption by expanding opportunities for intercity travel as the two entities will install EV chargers across highways [...]
SBI EXCHANGE RATE
SLUG: DIRECT EXCHANGE RATES SBI BCM – ESPL/ECO/COM MUMBAI,APRIL 25,2022 (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 TTBUY TTSEL BILLBUY TTSEL CODE USD/INR 75.85 77.35 75.79 77.51 EUR/INR 81.24 84.05 81.17 84.21 GBP/INR 96.56 99.68 [...]
Hero Electric to deploy 1,000 electric scooters to EVIFY in next two years
New Delhi, Apr 25 (PTI) Hero Electric on Monday said it has joined hands with EVIFY, a tech-enabled electric vehicle-based logistics company. As per the partnership, Hero Electric will deploy 1,000 electric scooters to EVIFY in the next two years. The first 50 units are already in production and will be delivered by next month, [...]
MONEY MARKET OPERATION
Date : Apr 25, 2022 Money Market Operations as on April 24, 2022 (Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 0.00 - - I. Call Money 0.00 - - II. Triparty Repo 0.00 - - III. Market Repo 0.00 - - [...]
Rajmohan Krishnan, founder of Entrust Family Office pens his first book, ‘Wise Wealth’
An astute family office advisor and Founder & MD of Entrust Family Office, Rajmohan Krishnan's debut book redefines the meaning of net worth and is a deep dive into how wealth can be used equitably to fuel a more sustainable future and work towards the larger good BENGALURU, India, April 25, 2022 /PRNewswire/ -- Mr [...]
Natural farming need of the hour, says NITI Aayog CEO Amitabh Kant
New Delhi, Apr 25 (PTI) Natural farming is the need of the hour as the cost of production of foodgrain has increased due to the use of chemicals and fertilisers, NITI Aayog CEO Amitabh Kant said on Monday. Addressing the 'National Workshop on Innovative Agriculture' organised by NITI Aayog, Kant further said India is now [...]
Rajasthan Venture Capital Fund exits Mosambee with strong returns
Jaipur, Apr 25 (PTI) The Rajasthan Venture Capital Fund (RVCF) has exited Mumbai-based fintech startup Mosambee with a 19 times jump in returns. RVCF, supported by Rajasthan State Industrial Investment and Investment Corporation (RIICO) and other institutions, had invested Rs 5.25 crore in Mosambee in 2015 and 2016 in the form of equity. Singapore-based Pine [...]
Bajaj Finance Fixed Deposit Offering Special Interest Rate up to 7.35 percent p.a.: Check Latest Interest Rates
Pune, Maharashtra, India (NewsVoir) There is good news for all the investors. Bajaj Finance Fixed Deposit is offering special interest rates to all its customers. These special interest rates are exclusive of the interest rate up to 7.10% p.a. increase on regular tenors offered by Bajaj Finance w.e.f 25th April 2022. The FD interest rate [...]
FIIs decrease their shareholding in these companies; Do you own any?
FIIs and their investments have a massive impact on the Indian stock markets. Sometimes there is a huge sell-off by FIIs that drags markets downwards. FIIs may sell their shares when their central banks tighten liquidity or when inflation rises, or due to any other reason. Here is a list of a few stocks in [...]
Cyient to acquire Finland-based Citec for about Rs 800 cr
New Delhi, Apr 25 (PTI) IT company Cyient will acquire global plant and product engineering services company Citec for about Rs 800 crore to strengthen its business offerings. Citec was founded in 1984, as an international plant and product engineering services company serving customers across the energy, mining, process, oil and gas, and manufacturing industries. [...]
CSS Corp Appoints ex-Mindtree Leader Anish Philip as Chief People Officer to Support Continued Growth
Bangalore, Karnataka, India – Business Wire India CSS Corp, a global customer experience and technology services provider, today announced the appointment of Anish Philip as Chief People Officer. Anish will lead multifaceted HR departments across geos, and the company’s senior management talent initiatives to provide strategic leadership to the company’s ‘people’ agenda. He will also [...]
Glenmark becomes the First Pharmaceutical Company to launch Teneligliptin + Pioglitazone Fixed-Dose Combination Drug for Type 2 Diabetes in India
- The innovative Fixed-Dose Combination will help improving the glycemic control among adult patients with insulin resistance, those whose diabetes is uncontrolled by metformin; and also those who require addition of Teneliglitptin and Pioglitazone as separate drugs. - Launched under the brand name Zita Plus Pio, the drug will increase the accessibility of quality drug [...]
Self Drive Nepal to become exclusive rental partner for BYD electric vehicles
New Delhi, Apr 25 (PTI) Electric vehicle maker BYD India on Monday said its Nepalese partner, Cimex Inc Pvt Ltd, has signed an agreement to supply 50 units of its electric multi purpose vehicle, e6 electric, with Self Drive Nepal Pvt Ltd for rental fleet operation. Under the agreement, Self Drive Nepal -- a subsidiary [...]
Tutopia Learning App made Learning Easy and Affordable which is developed by Brillmindz
BANGALORE, India, April 25, 2022 /PRNewswire/ -- Brillmindz, a leading mobile application development company in India has developed Tutopia eLearning Mobile app which has transformed learning to be easy and affordable. There has been a humongous revolution in the field of education thanks to eLearning technology. Due to the advanced eLearning apps, the process of [...]
ICICI Bank stock jumps nearly 2% after Q4 earnings
Shares of ICICI Bank on Monday gained nearly 2 per cent after the company reported a 59 per cent jump in standalone net profit for the fourth quarter of 2021-22. The stock jumped 1.89 per cent to Rs 761.50 on the BSE. At the NSE, it went up by 1.83 per cent to Rs 761.35. [...]
National Conference brings Interfaith, Academia and PolicyMakers to deliberate ‘Actionable’ Harmony by Gen Z
16 year-old BodhiTrail Founder elevates the Interfaith discussions with 21st century perspectives on public policy NEW DELHI, April 24, 2022 /PRNewswire/ -- On the International Day of Conscience, BodhiTrail Founder, Riaan Kumar, organized a 'National Conference on Faith and Policy' at the India Habitat Center. With keynote speakers Dr. Kiran Bedi and UNESCO MGIEP Director, [...]
‘Mission Rs 1 lakh’ set by connecting 10 cr women with SHGs: Union Minister
Palli (J&K), Apr 24 (PTI) Union minister Giriraj Singh on Sunday said a target of "Mission Rs 1 lakh", aimed at raising the annual income of women under self-help groups, has been set by connecting 10 crore women with SHGs to boost the economic activity in rural areas across the country. The Minister for Rural [...]
Punjab CM urges Centre to relax norms for shrivelled grains
Chandigarh, Apr 24 (PTI) Punjab Chief Minister Bhagwant Mann on Sunday urged the Centre to relax norms for shrivelled grains in the purchase of wheat from the state without imposing any value cut. Wheat growers in Punjab have reported drop in crop yield and shrivelled grains because of the early onset of heat wave. Mann [...]
Religare pays Rs 5.41 cr to Sebi to settle legacy issues
NBFC Religare Enterprises Ltd (REL) on Sunday said it has paid Rs 5.41 crore to market regulator Sebi to settle its past cases. In order to settle another legacy issue and keep REL growing as per its plans, it had submitted an application for settlement under the SEBI (Settlement Proceedings) Regulations, 2018 without admission or [...]
Using of technology imperative to make mining safer: Odisha minister
Bhubaneswar, Apr 24 (PTI) Mining of minerals can be made safer and more efficient by using technologies, including artificial intelligence, machine learning and the internet of things, Odisha Steel and Mines Minister Prafulla Mallik said on Sunday.Speaking at a seminar on 'Technological and Digital Advancements in Mining and Mineral Beneficiation' here, he cited examples of [...]
MP wheat demand shoots up globally amid Russia-Ukraine crisis
Indore, Apr 24 (PTI) The demand for wheat varieties like Sharbati and Kathia grown in Madhya Pradesh has shot up in the international market amid short supply from Russia and Ukraine due to the ongoing war, an official said. Madhya Pradesh State Agricultural Marketing Board's (MPSAMB) Managing Director Vikas Narwal said that the government procurement [...]
Govt to organise week-long nationwide campaign for farmers from Apr 25
New Delhi, Apr 24 (PTI) Union Agriculture Ministry will organise a week- long nationwide campaign till April 30 at regional level to highlight the achievements made in the farm sector since independence and also create awareness about the various programmes run by the Centre for the benefits of farmers. The campaign 'Kisan Bhagidari, Prathmikta Hamari' [...]
FM urges Indian diaspora to become partners in growth of country \n\nWashington, Apr 24 (‘
Washington, Apr 24 (PTI) Finance Minister Nirmala Sitharaman has urged the Indian diaspora to become partners in growth of the country during the next 25 years as it attains 100 years of independence. Addressing the Indian community in the Silicon Valley, San Francisco Bay Area, she highlighted the contributions of the country people in innovation [...]
MNRE minister calls for collective efforts to fight carbon emissions
Gurugram, Apr 24 (PTI) Union Minister for Power, New and Renewable Energy R K Singh on Sunday called for a collective effort on a global level to fight the issue of carbon emissions. India has been working consistently to meet its carbon emission goals, the minister said addressing a panel discussion on solar energy here. [...]
Reduce import duty on coffee, Papua New Guinea to urge India
Kolkata, Apr 24 (PTI) Papua New Guinea (PNG) will urge the Indian government to reduce the import duty on coffee, which is 110 per cent, High Commissioner of the country to India, Paulias Korni, said on Sunday.Papua New Guinea, an island nation in the southwestern Pacific Ocean, is known for producing one of the best [...]
Exports of ceramics and glassware products touch USD 3.5 bn in FY22
New Delhi, Apr 24 (PTI) Exports of ceramics and glassware products touched a "record" USD 3.5 billion in 2021-22, the commerce ministry said on Sunday. It said the exports rose because of increase in shipments of ceramic tiles and sanitaryware products. India is the world's second largest manufacturer of tiles. The main items for export [...]
ADB considering loan to Maldives bank: Ashok Lavasa
Manila, Apr 24 (PTI) The Asian Development Bank is considering giving a loan to a Maldivian bank, according to ADB Vice-President for Private Sector Operations and Public-Private Partnerships Ashok Lavasa.Speaking to PTI at the World Travel and Tourism Council (WTTC) Global Summit in Manila over the weekend, Lavasa said, “through that bank, we will be [...]
‘Schemes like Jan Dhan, Mudra bring paradigm shift in governance’
New Delhi, Apr 24 (PTI) Central schemes such as Pradhan Mantri Jan Dhan Yojana, Mudra Yojana and PM Kisan Samman Nidhi (PM-KISAN) have played a pivotal role in bringing a paradigm shift in governance, according to a book. Many people-centric schemes like Jan Dhan Yojana launched by the government have reached saturation level and there [...]
Britannia Industries unveils ‘Marie Gold Jeera’ to serve regional customers in TN
Chennai, Apr 24 (PTI) Food major Britannia Industries Ltd has unveiled its first ever co-created biscuit to serve Tamil Nadu market with the launch of Britannia Marie Gold Jeera, the company said on Sunday. The brand ahead of its region-specific launch has worked with various women homemakers in the state to co-create a biscuit which [...]
Weekly Recap – Market Movers, ICICI Bank Result, LIC IPO, FPIs April Update and More!
The BSE Sensex and the NSE Nifty halted a two-day winning streak on Friday. The markets tracked five-week lows in other Asian markets, which were in turn affected by Fed Chairman Jerome Powell's remark the US central bank will move aggressively to curb inflation bringing back fears of steep hikes in pandemic-era interest rates. Financial, [...]
Agri Ministry to organise campaign next week to highlight achievements in farm sector
New Delhi, Apr 24 (PTI) Union Agriculture Ministry will organise a campaign during April 25-30 to highlight the achievements made in the farm sector since independence and also create awareness about the various programmes run by the Centre for the benefits of farmers. The campaign 'Kisan Bhagidari, Prathmikta Hamari' is being organised under 'Azadi Ka [...]
Depositors of Lucknow coop bank to get money from DICGC on Apr 27
Mumbai, Apr 24 (PTI) The Deposit Insurance and Credit Guarantee Corporation (DICGC) will be making payments to the eligible depositors of Lucknow-based Indian Mercantile Cooperative Bank on April 27, according to a notice. Depositors of Beed-based Dwarakadas Mantri Nagari Sahakari Bank will get payments on June 6. DICGC, a wholly-owned subsidiary of the RBI, provides [...]
Monthly rent in Delhi-NCR’s high street retail locations rises up to 5.6 pc in Jan-Mar: Report
New Delhi, Apr 24 (PTI) Monthly rentals in Delhi-NCR's high street retail locations, including Khan Market and Connaught Place, increased by up to 5.6 per cent during January-March period as compared to the previous quarter on better demand for space from retailers, according to Cushman & Wakefield. In its report 'Marketbeat Delhi-NCR Retail Q1, 2022', [...]
India’s oil import bill doubles to USD 119 bn in FY22
New Delhi, Apr 24 (PTI) India's crude oil import bill nearly doubled to USD 119 billion in the fiscal year that ended on March 31, as energy prices soared globally following the return of demand and war in Ukraine. India, the world's third biggest oil consuming and importing nation, spent USD 119.2 billion in 2021-22 [...]
Indian students texting me; want to come back: Philippines Tourism Secretary
Manila, Apr 24 (PTI) The Philippines Tourism Secretary Bernadette Romulo-Puyat has said that many Indian students who had flown back home during the pandemic now want to return and continue their studies in the nation of over 7,600 islands.Speaking to reporters after the World Travel and Tourism Council (WTTC) Global Summit in Manila concluded on [...]
Maha: Gadkari announces expressway project worth Rs 10,000 cr between Aurangabad & Pune
Aurangabad, Apr 24 (PTI) Union Road Transport and Highways Minister Nitin Gadkari on Sunday said an access- controlled expressway will be constructed between Aurangabad and Pune at a cost of Rs 10,000 crore to considerably reduce the travel time between the two Maharashtra cities. Gadkari on Sunday dedicated to the nation 86 km of roads [...]
Springfit aims Rs 1,200 cr turnover in next 5 yrs; public listing expected by 2025
New Delhi, Apr 24 (PTI) Luxury mattress brand Springfit aims a turnover of Rs 1,000-1,200 crore in the next five years, helped by growth from domestic and exports markets, said a company official. As part of its expansion strategy, Springfit is investing to double its manufacturing capacity to meet the growing demand, expand its distribution [...]
Kamdhenu eyes Rs 22,000 cr brand sales turnover by FY24: CMD Satish Agarwal
New Delhi, Apr 24 (PTI) The Kamdhenu Group is eyeing for a brand sales turnover of Rs 22,000 crore from its steel business by financial year 2023-24, its Chairman and Managing Director (CMD) Satish Agarwal said. The Gurugram-based TMT rebars maker operates on a franchisee model in the steel segment. "Looking at the demand for [...]
WTTC launches ‘Hotel Sustainability Basics’ initiative to ensure responsible travel and tourism
Manila, Apr 24 (PTI) The World Travel and Tourism Council (WTTC) has launched ‘Hotel Sustainability Basics’, a set of criteria that all hotels are expected to implement to drive responsible travel and tourism, and will help them address their environmental impact.The initiative was launched at the WTTC’s Global Summit, held in Manila from April 20-22, [...]
Six working groups set up to suggest ways to improve functioning of PSBs to submit report by Dec
New Delhi, Apr 24 (PTI) Six working groups created to suggest ways to improve digitisation in the state-owned banks and strengthen their balance sheets have been asked to submit their respective reports by December, according to a senior banker. Participating in the meeting, Financial Services Secretary Sanjay Malhotra recently asked the banks to explore strategies [...]
WhiteOak Capital Asset Management plans to open 100 branches in next 12-18 months
New Delhi, Apr 24 (PTI) WhiteOak Capital Asset Management, a new entrant to the mutual fund space, is looking to open nearly 100 branches across the country in the next 12-18 months. Also, the company has lined up six different mutual fund products with the first being a flexi-cap fund, followed by an emerging markets [...]
ONGC commissions Rs 6,000 cr projects to boost oil, gas output
New Delhi, Apr 24 (PTI) State-owned Oil and Natural Gas Corporation (ONGC) has commissioned two projects costing Rs 6,000 crore to add 7.5 million tonnes of oil production and 1 billion cubic meters of gas output over the life of the Mumbai High fields, as it doubles down efforts to raise productivity from mature and [...]
Luxury carmakers see accelerated demand for premium-end models in India
New Delhi, Apr 24 (PTI) Luxury carmakers -- Mercedes-Benz, Audi and BMW, are witnessing accelerated demand for their models at the premium-end in India, leading to longer waiting periods amid supply constraints, according to top officials of the companies. They are witnessing higher growth in the premium-end as compared to the volume-segment of their respective [...]
Coal stocks at non-pithead plants low at 26pc of normative level
New Delhi, Apr 24 (PTI) Coal stocks at non-pithead thermal power plants remained consistently low during the last week till Thursday at 26 per cent of the normative levels, showing shortage of the dry fuel amid rising electricity demand due to scorching heat. Experts are of the view that coal shortage can lead to a [...]
Ola Electric recalling 1,441 units of electric two-wheelers
New Delhi, Apr 24 (PTI) Ola Electric is recalling 1,441 units of its electric two-wheelers in the wake of incidents of vehicles catching fire, according to a company statement. The company said its investigation into the fire incident on March 26, in Pune, is ongoing and preliminary assessment found that it was an isolated one. [...]
Sustainable funds see Rs 315 cr outflow in FY21-22
New Delhi, Apr 24 (PTI) Investors are yet to warm up to the concept of sustainable investing with sustainable or ESG (environmental, social, and governance) funds in India witnessing outflows of Rs 315 crore in 2021-22. This comes following a staggering inflow of Rs 4,884 crore in FY 2020-21. Prior to that, sustainable funds saw [...]
Aditya Birla Capital appoints ICICI Bank veteran Mulye as CEO
Mumbai, Apr 23 (PTI) Vishakha Mulye, an ICICI Bank veteran, will take over as the chief executive of Aditya Birla Capital, the non-bank lender said on Saturday.Mulye, who was the executive director of ICICI Bank in charge of the wholesale banking portfolio, will take over her role on June 1, as per an announcement by [...]
Stakeholders’ outreach event on India-UAE, India-Australia trade agreements held in Hyderabad
Hyderabad, Apr 23 (PTI) An event to create awareness among the industry and exporters from Telangana, particularly the MSME sector, about the potential benefits of India's trade agreements with the UAE and Australia was held in Hyderabad on Saturday.The Centre's Department of Commerce, in coordination with the Telangana government, held the stakeholders' outreach programme on [...]
Govt cuts LIC IPO size to 3.5%, issue to hit markets in May 1st week
New Delhi, Apr 23 (PTI) The government is likely to cut the size of the initial public offering of LIC to 3.5 per cent to raise around Rs 21,000 crore from the issue which would hit the capital markets in the first week of the next month. The government in February had planned to sell [...]
Was forced to buy M F Husain painting from Priyanka Gandhi, paid Rs 2 cr; proceeds used for Sonia’s medical treatment in New York: Rana Kapoor in ED chargesheet
Mumbai, Apr 23 (PTI) Yes Bank co-founder Rana Kapoor has told the Enforcement Directorate that he was "forced" to buy an M F Husain painting from Congress' Priyanka Gandhi Vadra and the sale proceeds were utilised by the Gandhi family for the medical treatment of Congress president Sonia Gandhi in New York, as per the [...]
Historic decision: 20 J&K districts to get Rs 22,126 cr for FY23
Jammu, Apr 23 (PTI) In a historic decision for transformation and equitable development of Jammu and Kashmir, 20 districts of the union territory have been granted capital expenditure of Rs 22,126.93 crore for 2022-23, officials said. Asserting that Jammu and Kashmir government has achieved 'record-breaking milestone' of completing 51,891 projects in the last financial year, [...]
HDFC Bank declares 1550% dividend for shareholders
New Delhi, Apr 23 (PTI) HDFC Bank on Saturday declared a 1550 per cent or 15.50 per share dividend to its shareholders for the financial year 2021-22. The board at its meeting has recommended a dividend of Rs 15.50 per equity share of Re 1 (1550 per cent) out of the net profits for the [...]
Railways records 20.4 pc growth in its coal transportation in FY 2021-22
New Delhi, Apr 23 (PTI) The Indian Railways has recorded a 20.4 per cent growth in its coal transportation in the 2021-22 financial year over the previous fiscal, the national transporter said on Saturday.Compared to 542 million tonnes in 2020-21 fiscal, the railways loaded a record 653 million tonnes of coal in 2021-22, an increase [...]
Sri Lankan Prez Gotabaya Rajapaksa seeks global investments, financing for economic recovery
Colombo, Apr 23 (PTI) Sri Lankan President Gotabaya Rajapaksa on Saturday said that the crisis-hit country welcomes investments, technology transfers and financing for its sustainability efforts and cooperation for debt restructuring to support the economic recovery during this critical time. Gotabaya, addressing the 4th Asia-Pacific Water Summit in Japan’s Kumamoto via video link, said that [...]
Future Enterprises defaults on Rs 2,911.51 cr loan repayments
New Delhi, Apr 23 (PTI) Future Enterprise Ltd (FEL) has defaulted on repayment of Rs 2,911.51 crore of loans to its lenders, missing 30 days of review period. The company was required to pay an aggregate amount of Rs 2,911.51 crore between March 23 and March 31, 2022, to various consortium banks and lenders, a [...]
Defiant Lankan PM Mahinda Rajapaksa says he won’t resign; will also head any interim government
Colombo, Apr 23 (PTI) A defiant Sri Lankan Prime Minister Mahinda Rajapaksa on Saturday dismissed calls to form an interim government to tackle the unprecedented economic crisis in the debt-ridden island nation, saying he would anyway head any such dispensation if it is required. Thousands of demonstrators have hit the streets since April 9, as [...]
Govt to release framework on non-personal data use in 10 days: Vaishnaw
New Delhi, Apr 23 (PTI) The government is planning to create public digital platforms in partnership with the industry and will release a framework within 10 days comprising the use of non-personal data for providing better service to people, Communications and IT minister Ashwini Vaishnaw said on Saturday. While speaking at a CII conference, Vaishnaw [...]
EKKI Pumps appoints Sujit Banerji as chief advisor
Chennai, Apr 23 (PTI) Pumps and water technologies major EKKI Pumps has appointed Emeritus Professor, WMG, University of Warwick professor Sujit Banerji as its chief advisor. Banerji would offer his expertise in globalisation and operations management across the group and help the management of the company to design and execute an appropriate strategy, a company [...]
Innovation key to build successful business: Mariwala
Mumbai, Apr 23 (PTI) Constant innovation and creating a culture that encourages new ideas are key to building a successful business, Marico founder and chairman Harsh Mariwala said on Saturday. "I realised the importance of innovation 20 years back... When I look back at our brands, they all have something different which has succeeded in [...]
India to host accountants World Congress for the first time in 118 yrs
Kolkata, Apr 23 (PTI) Institute of Chartered Accountants of India (ICAI) is set to host 21st World Congress of Accountants (WCOA), the kumbh of accountants, for the first time in 118 years of its existence, ICAI president Debashis Mitra said on Saturday. The event will be held from November 18 to 21 after outbidding France. [...]
Delhi court grants bail to accused in Pearls Group’s ponzi scam case
New Delhi, Apr 23 (PTI) A Delhi court has granted bail to Chander Bhushan Dhillon, one of the directors of Pearls Group, in connection with a Rs 60,000 crore ponzi scam allegedly run by the group.Special judge Sanjeev Aggarwal granted the relief on a personal bond of Rs one lakh and one surety of like [...]
Future Lifestyle Fashions chairperson Shailesh Haribhakti resigns
New Delhi, Apr 23 (PTI) The chairperson and independent director of Future Lifestyle Fashions Ltd, Shailesh Haribhakti, has resigned observing that "volatile, complex and unpredictable legal and financial circumstances have taken unexpected turns, and the board's recommendation to find solutions have not been met with implementation impetus, according to a regulatory filing by the company. [...]
Torrent Power to acquire 50 MW solar plant from SkyPower Group
New Delhi, Apr 23 (PTI) Torrent Power has inked a share purchase pact to acquire 100 per cent equity in a 50 MW solar plant of SkyPower Group at an enterprise value of Rs 417 crore. Torrent Power Ltd has entered into a Share Purchase Agreement (SPA) with SkyPower Southeast Asia III Investments Limited and [...]
NEWSALERT
ICICI Bank reports 59 pc jump in standalone profit to Rs 7,019 crore for the fourth quarter of 2021-22. PTI DP MR MR
Reliance calls off Rs 24,713 cr deal with Future Group after secured creditors vote against it
Reliance Industries on Saturday said its Rs 24,713-crore deal to acquire Future Group's assets cannot be implemented after secured creditors of the Kishore Biyani-led companies voted against the proposal. In a regulatory filing, Reliance said Future Group companies comprising Future Retail Limited (FRL) and other listed companies involved in the scheme have intimated the results [...]
Seagram’s 100 Pipers is ‘Now Funding Tomorrow’ with the Launch of India’s First NFT Dedicated to Tree Plantation
New Delhi, Delhi, India (NewsVoir) • Announced the sale of 13 Environment-themed NFTs on Earth Day, 22nd Apr 2022 • All 13 NFTs sold out in under 10 mins of launch • Proceeds from the NFT sales to go towards AROH Foundation • 100 Pipers pledged to plant 1 million trees over the course of [...]
Meet the EdTech Startups that are Part of Marwari Catalysts’ Accelerator Program, ‘Thrive’, to Ride the Stronger EdTech Momentum
Jodhpur, Rajasthan, India (NewsVoir) With wonderful response from the last cohort batch of EdTech startups with two acquisitions, Marwari Catalysts today announces the selected EdTechstartups that are part of its next batch of accelerator cohort program, ‘Thrive’. The accelerator aims to nurture the vibrant EdTechstartup ecosystem of our nation with its unique accelerator cohort program [...]
Russian IT cos eyeing Indian JVs post sanctions to expand footprint: Russoft chief
Kolkata, Apr 23 (PTI) A number of Russian software companies are scouting for joint ventures in India and other BRICS nations, as a barrage of sanctions by the West following the invasion of Ukraine dampened trade with the US and Europe, the head of an association of over 250 IT firms from Russia said. Valentin [...]
NEWSALERT
Deal with Future group cannot be implemented as secured creditors have voted against it, says Reliance Industries. PTI KRH DRR
Singapore lifestyle to be back to pre-pandemic level from Tuesday: PM Lee
Singapore, Apr 23 (PTI) The large-scale easing of COVID-19 measures will bring Singapore lifestyle almost to a place where it was before the pandemic hit the country in 2020, Prime Minister Lee Hsien Loong said on Saturday. Lee, in a Facebook post, called on Singaporeans to continue to be socially responsible and take care of [...]
SIDBI signs MoU with WBSIDCL
Kolkata, Apr 23 (PTI) Small Industries Development Bank of India (SIDBI), the leading financial institution for MSME sector, has entered into an MoU with West Bengal Small Industries Development Corporation Limited (WBSIDCL) to develop the eco-system for micro and small enterprises in the state, a spokesman said on Saturday.The MoU was exchanged by Nikhil Nirmal, [...]
UK’s Startup Voyager to invest £2.2mn for biz expansion of travel site
Kolkata, Apr 23 (PTI) Digital marketing agency Startup Voyager will pump £2.2 million into its newly launched UK-based travel site ExperiWise for its business expansion over the next two years. The investment is a part of the new £1 billion UK-India trade deals that were announced by British Prime Minister Boris Johnson on April 21 [...]
Yes Bank-DHFL case: Rana Kapoor, Wadhawans laundered money worth Rs 5,050 crore, says ED
The Enforcement Directorate (ED) has alleged that Yes Bank co-founder Rana Kapoor and Dewan Housing Finance Limited (DHFL) promoters Kapil and Dheeraj Wadhawan siphoned off funds worth Rs 5,050 crore through suspicious transactions. The ED said this in its second supplementary (third overall) charge sheet filed in special court here recently against Rana Kapoor, his [...]
FM invites US varsities to start operation at IFSC
Washington, Apr 23 (PTI) Finance Minister Nirmala Sitharaman on Friday interacted with the representatives of 14 distinguished US universities and invited them to set up foreign universities/institutions at the International Financial Services Centre (IFSC) in Gandhinagar, Gujarat. Budget 2022-23 permitted setting-up of world-class foreign universities in Gandhinagar's GIFT City, free from domestic regulations, to facilitate [...]
India’s Sons a powerful documentary film showing stories of false rape case victims screened in Mumbai by Fempowerment Foundation.
April 22, Mumbai: Documentary film “India’s Sons” showing several stories where innocent men and boys were falsely accused of rape in India and later honourably acquitted, punished for years for a crime that they did not do, was screened at St. Andrews Auditorium on April 22. The film has been directed by Deepika Narayan Bhardwaj [...]
Dr. Bina Modi, Chairperson, Modi Enterprises Receives the Woman Transforming India Award by Indo-American Chamber of Commerce
New Delhi, Delhi, India – Business Wire India Dr. Bina Modi, Chairperson of Modi Enterprises was adjudged the ‘Woman Transforming India’ Award at Indo-American Chamber of Commerce 6th Entrepreneur & Leadership Awards 2022. The Award was presented by the Honourable Union Minister for Civil Aviation, Shri JyotiradityaScindia. Dr. Bina Modi, Chairperson of Modi Enterprises, a [...]
Tata Motors hikes prices to offset impact of rising input cost
Mumbai, Apr 23 (PTI) Tata Motors on Saturday said it has hiked the prices of its passenger vehicles by an average 1.1 per cent with immediate effect. Tata Motors has increased prices across its passenger vehicles to partially offset the rise in input cost, the company said in a statement. Effective April 23, the weighted [...]
Good Flippin’ Burgers Raises 1 Million USD
Mumbai, 23 April 2022: Good Flippin’ Burgers – Mumbai’s most loved Burger brand announced a fresh round of funding today that amounts to 1 Million USD, in its quest to become India’s most loved burger brand. The new round of seed funding is led by Nikhil Bharadwaj Director Kerala Blasters Football Club, Karan Bhagat Founder, [...]
FM discusses growth potential in MRO, aircraft leasing with Boeing Defense CEO
Washington, Apr 23 (PTI) Finance Minister Nirmala Sitharaman on Friday met Boeing Defense CEO Ted Colbert and discussed opportunities for investments and growth in maintenance, repair, and operations (MRO) and aircraft leasing in India. The Finance Minister is visiting the US to attend IMF-WB Spring Meetings 2022. "Union Finance Minister Smt. @nsitharaman met Mr Ted [...]
US discouraging India not to rely on Russia for its defence needs: Biden admn officials
Washington/Brussels, Apr 23 (PTI) The US is discouraging India from relying on Russia, its largest defence supplier, for its defence needs, citing the crippling impact the Western sanctions will have on Russian military-industrial complexes after Moscow's invasion of Ukraine, top American officials have said.The remarks of the top Biden administration officials this week came amid [...]
Rescue countries facing debt stress in these uncertain times: FM to World Bank
Washington, Apr 23 (PTI) Finance Minister Nirmala Sitharaman has underlined the need to rescue countries facing debt stress due to the uncertainty caused by the pandemic and the recent geo-political developments. During a meeting with World Bank Group President David Malpass on Friday, Sitharaman said India remains concerned about the risks to global recovery due [...]
Tejas Networks chairman resigns, TCS sr exec NG Subramaniam to take charge
Tata group firm Tejas Networks chairman Balakrishnan V has resigned from his position, the company said in a regulatory filing on Friday. The board of Tejas Network has approved the appointment of TCS chief operating officer and executive director N Ganapathy Subramaniam as non-executive chairman with effect from May 18. "Mr Balakrishnan V has submitted [...]
Freudenberg Group publishes figures – Profitable growth and strong sales for the Freudenberg Group in 2021
• Freudenberg Group Record sales above €10 billion (plus 14 percent) • Operating profit of €877 million (plus 31 percent) • Freudenberg India Record sales above €322 million (plus 32 percent) • Battery and fuel cell business as independent Business Group • Progress in Sustainability – Freudenberg climate-neutral by 2045 BANGALORE, India, April 22, 2022 [...]
US discourages India’s reliance on Russia for defence needs: Pentagon
Washington, Apr 23 (PTI) The US discourages India to rely on Russia for its defence needs, the Pentagon has said.In October 2018, India signed a USD 5 billion deal with Russia to buy five units of the S-400 Triumf air defence missile systems to ramp up its air defence, despite a warning from the then [...]
India facing difficulties with WTO on exporting cereals amidst global food crisis: Sitharaman
Washington, Apr 23 (PTI) Amidst a global shortage of food grains in the aftermath of the Ukrainian war, countries like India which have the potential to address this by exporting agricultural products, in particular cereals, are facing difficulties from the World Trade Organization, Union Finance Minister Nirmala Sitharaman said Friday. Responding to India's concerns, WTO [...]
FM meets OECD Secretary General, discusses bilateral engagement
Washington, Apr 22 (PTI) Finance Minister Nirmala Sitharaman on Friday met OECD Secretary General Mathias Cormann and discussed issues of bilateral engagement. The meeting took place on the sidelines of the IMF-WB Spring meetings 2022 here. "While appreciating @OECD's contributions to #G20, FM Smt. @nsitharman discussed with Mr. @MathiasCormann India-OECD bilateral engagements and India's #G20Presidency [...]
Millions of COVID vaccines unsold; stopped production since Dec 2021: Poonawalla
Mumbai, Apr 22 (PTI) The Serum Institute of India has stopped producing the COVID-19 vaccine since the last day of December 2021 as it has been sitting on millions of unsold vaccines after the vaccination momentum has ebbed, its chief executive officer Adar Poonawalla said on Friday. Poonawalla also warned against the return to "the [...]
Secured creditors of several listed Future group cos reject deal with Reliance Retail
New Delhi, Apr 22 (PTI) Secured creditors of several listed entities of debt-ridden Future Group, including its flagship firm Future Retail Ltd, have voted against the Rs 24,713 crore-deal with billionaire Mukesh Ambani's Reliance Retail, according to regulatory filings. However, more than 75 per cent of shareholders and unsecured creditors have supported the deal. Future [...]
Captive wireless network good for all, speculated loss of telco revenues misplaced view: BIF
New Delhi, Apr 22 (PTI) Think-tank BIF has contested the views of telecom industry body COAI against sector regulator Trai's recommendation to allow business organisations to set up their own wireless networks for captive usage, saying the provision will be beneficial for everyone. In a letter to Telecom Secretary K Rajaraman, Broadband India Forum (BIF) [...]
Punjab seeks cooperation from Amul in improvement of dairy products
Chandigarh, Apr 22 (PTI) Punjab Dairy Development Minister Kuldeep Singh Dhaliwal on Friday visited Amul plants in Gujarat and sought cooperation from the dairy major in further improving the quality of dairy products in his state. The minister went to Amul plants in Anand Shahar and Gandhinagar on Friday. He was on a Gujarat visit [...]
Niti Aayog VC Rajiv Kumar steps down
New Delhi, Apr 22 (PTI) Niti Aayog Vice Chairman Rajiv Kumar has stepped down, sources said. The reason behind his move could not be immediately ascertained. Kumar, an eminent economist, took over as vice chairman of Niti Aayog in August 2017 after the then VC Arvind Panagariya exited the government think-tank to return to academics. [...]
Resumption of Indo-Pak trade can settle political, territorial issues: Pak tycoon Mansha
Islamabad, Apr 22 (PTI) The resumption of Indo-Pak trade relations will pave the way for the settlement of political and territorial issues between the neighbouring countries, according to Pakistan's top business tycoon Mian Mohammad Mansha.Emphasising that there are “many synergies” between India and Pakistan that could come into play once bilateral trade resumes, Mansha, who [...]
NEWSALERT
Rajiv Kumar steps down as Niti Aayog vice chairman: Sources. PTI BKS ANZ ABM ABM
Govt tweaks coal utilisation norms for private power producers amid rising electricity demand
New Delhi, Apr 22 (PTI) The Union power ministry on Friday said that it has allowed private power generating stations to secure coal supplies for up to three years instead of current norm of one year, a move that comes against the backdrop of rising demand for electricity. The ministry has tweaked the methodology for [...]
Sundram Fasteners Q4 Results: Consolidated net profit drops 24%
Auto components maker Sundram Fasteners on Friday reported a 24 per cent decline in consolidated net profit at Rs 107.43 crore for the fourth quarter ended March 2022. The company had reported a consolidated net profit of Rs 140.80 crore in the same period of the 2020-21 fiscal. Revenue from operations, however, rose to Rs [...]
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