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Government to raise EPF ceiling to ₹21,000; How will this effect your salary?
The Employees’ Provident Fund (EPF) is a government-backed savings scheme for salaried employees, aimed at providing financial security during retirement. Under this, employees and employers each contribute 12% of the employee's basic salary to the EPF account. The accumulated funds earn interest, which is compounded annually. The Employees’ Pension Scheme (EPS) is a pension plan [...]
Alcohol stock jumps 4% after International Conveyors buys stake worth ₹9.13 Cr
Alcohol stock engaged in the business of manufacturing and distribution of liquor and other alcoholic beverages jumped upto 4 percent in the day’s trade after International Conveyors Limited picks stake in it. Price Action With a market capitalization of Rs. 2,434 Crores, the shares of Globus Spirits Limited were trading at Rs. 843.20 per equity [...]
Nuclear stock jumps after company’s board to consider raise fund
Nuclear energy stock engaged in designing and manufacturing high-precision & heavy-duty mechanical seals widely employed in various nuclear & thermal projects in focus following fundraising plans of Rs. 25 Crores. Price action With a market capitalization of Rs. 512 Crores, the shares of Sealmatic India Limited were trading at Rs. 565 per equity share, up [...]
The Ultimate Guide to Trading with the Economic Calendar
An economic calendar is an essential tool for traders, particularly those in the forex, stock, and commodity markets because it gives a schedule of major economic events, reports, and indicators that can influence financial market movements. Here's how to use it effectively in trading: 1. Identify Key Economic Events and Indications Certain economic data have [...]
Market leader stock to buy now for an upside of 20%; Do you own it?
India's wind energy sector is a vital component of its renewable energy landscape, currently boasting an installed capacity of over 47 GW, ranking fourth globally. The government aims to achieve 140 GW by 2030 as part of its commitment to reach 500 GW of renewable energy capacity, underscoring its role in sustainable development and carbon [...]
Navratna stock with orderbook worth ₹81,000 Cr to keep in your radar
The Civil Construction industry in India is poised for remarkable growth, projected to reach INR 25,316 billion in 2024, reflecting an 11.2% increase. With government investments exceeding $134 billion for infrastructure development, India aims to become the third-largest construction market globally by 2025, driven by urbanization and housing demand. With a market capitalization of Rs [...]
Will USA be in trouble if Russia, India and China join hands? Check the details
The global geopolitical landscape has undergone a significant shift from a bipolar structure, dominated by Russia and the USA, to a more multipolar world. During the Cold War, the world was largely divided between two superpowers, influencing global politics, economics, and military alliances. However, over the past few decades, countries like China, India, and France [...]
Defence stock in focus after receiving orders from Tata Advanced and Godrej & Boyce
This Hidden Gem stock is engaged in manufacturing, designing, and supplying precise tooling, automation, and components solutions for the defence and aerospace industries in focus after the company received multiple orders from Tata Advanced Systems and Godrej & Boyce totalling worth Rs. 5.6 crores. Price Action With a market capitalization of Rs. 352 Crores, the [...]
Tata Group Stock jumps after Partnership with Suzuki for next-gen powertrains
The product designing segment in India has seen significant growth as businesses focus on creating innovative, functional, and aesthetically appealing products. This industry involves a combination of industrial design, engineering, and user experience to ensure that products meet the needs of consumers while also standing out in the marketplace. Companies like Tata Elxsi, DesignCafe, Godrej [...]
Telecom stock in focus after receiving work orders worth ₹95 Cr from Govt. of Uttarakhand
Telecom stock engaged in manufacturing, trading, and servicing of telecommunication equipment, and rendering other associated and ancillary services in focus upon receiving work orders worth Rs. 95 Crores from the Government of Uttarakhand. Price Action With a market capitalization of Rs. 27,986 Crores, the shares of ITI Limited closed at Rs. 291.25 per equity share, [...]
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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
FM meets IMF DMD Gita Gopinath; discusses wide range of issues
New Delhi, Apr 21 (PTI) Finance Minister Nirmala Sitharaman on Thursday met First Deputy Managing Director of the International Monetary Fund (IMF), Gita Gopinath, and discussed a range of issues, including the upcoming India G20 Presidency. The meeting took place on the sidelines of the IMF-WB Spring Meetings 2022 in Washington, the Finance Ministry said in [...]
Apollo Hospitals’ Sangita Reddy pitches for increasing women’s representation in workplace
Mumbai, Apr 21 (PTI) Apollo Hospitals Joint MD Sangita Reddy on Thursday pitched for increasing women's representation in every sphere of life, including the workplace. "There's a tremendous need across society to enhance women's labour participation to improve the gender gap, all these are stark realities on the ground. I just think... there should be [...]
Sebi penalise an individual for violating insider trading norms
New Delhi, Apr 21 (PTI) Capital markets regulator Sebi has penalised an individual for flouting insider trading norms in the matter of Varun Beverages Limited. The order came on Wednesday after a probe conducted by Sebi between January 2017 and April 2018. The regulator had received a letter from Varun Beverages Limited (VBL) about violation [...]
Wiom raises Rs 30 crores in seed round co-led by YourNest, 9 Unicorn
New Delhi, Apr 21 (PTI) Internet services firm Wiom has secured a funding of Rs 30 crore in a seed funding round led by YourNest and 9 Unicorn, the company said on Thursday. The company said that a global tech giant and existing investors Auxano and Omidyar Network India also participated in the funding round. [...]
Future group firms complete shareholders, creditors meetings over Reliance deal
New Delhi, Apr 21 (PTI) Listed entities of the Future group firm, including flagship Future Retail, have completed meetings of their respective shareholders and creditors to consider and approve the Rs 24,713 crore deal to sell their assets to billionaire Mukesh Ambani's Reliance Retail Ventures Ltd despite objections from Amazon. The entities include Future Retail, [...]
Retail investors’ shareholding in Paytm more than doubles, Canada Pension Plan raises stake
New Delhi, Apr 21 (PTI) Paytm owner One97 Communications on Thursday posted a shareholding update which showed that retail shareholders have more than doubled their stake in the company. Canada Pension Plan Investment Board (CPPIB) has also increased its stake in Paytm from 1.57 to 1.71 per cent in the quarter ended March 2022, according [...]
Oneweb gets licence to provide satellite services in India
New Delhi, Apr 21 (PTI) Bharti group-backed Oneweb has received a licence from the government to provide satellite services in the country, an official source said on Thursday. UK-based Oneweb has plans to provide connectivity in the country through OneWeb satellite from mid-2022. "The Department of Telecom has issued Global Mobile Personal Communication by Satellite [...]
HCL Tech PAT zooms to Rs 3,593 cr in Q4; sets 12-14% revenue growth outlook for FY23
IT services company HCL Technologies on Thursday reported over a three-fold jump in its consolidated net profit for the fourth quarter ended March 2022 at Rs 3,593 crore as it struck an optimistic note about the "buoyant" market environment and "strong momentum across verticals and service lines" to guide for 12-14 per cent revenue growth [...]
WNS net jumps 29% in March quarter, FY22 revenues top USD 1 billion
Mumbai, Apr 21 (PTI) Business process management company WNS on Thursday reported a 29 per cent jump in its March quarter net profit at USD 38.9 million. The New York Stock Exchange-listed firm, which has its corporate office in suburban Vikhroli, had reported a post-tax profit of USD 27.5 million in the year-ago period. For [...]
Bengal forms sectoral panels for govt-industry synergy
Kolkata, Apr 21 (PTI) The West Bengal government on Thursday announced setting up of sectoral committees to forge synergies between the authorities and industries in which business doyens will function as co-chairmen.Amit Mitra, the principal chief advisor to Chief Minister Mamata Banerjee, said the committee for agriculture and allied products will be co-chaired by ITC [...]
Switch Mobility to invest 300 mn pounds across UK, India to develop electric buses, commercial vehicles
New Delhi, Apr 21 (PTI) Switch Mobility on Thursday said it plans to invest 300 million pounds (over Rs 2,980 crore) across the UK and India to develop its range of electric buses and light commercial vehicles. The company expects to create over 4,000 skilled jobs in the UK and India as part of the [...]
Tourism sector recovering; sense of optimism in industry: OYO CEO
Mumbai, Apr 21 (PTI) The tourism industry is recovering and there is a sense of optimism in the sector, founder and CEO of OYO Rooms Ritesh Agarwal said on Thursday. "India had over a billion domestic visits right before the pandemic, and increasing as we speak, and... I hope that we will get back there [...]
Indian cruise market can grow 10-times over next decade: Sonowal
Mumbai, Apr 21 (PTI) The Indian cruise market has the potential to grow by 10-times over the next decade, driven by rising demand and disposable incomes, Union Minister Sarbananda Sonowal said on Thursday. He also said the iconic sea-cruise terminal coming up at BPX Indira Dock Mumbai International Cruise Terminal is expected to be commissioned [...]
‘Anti-minority’ tag for India will hurt domestic cos, warns Rajan
Mumbai, Apr 21 (PTI) Amid concerns over minorities being targeted in India, former Reserve Bank governor Raghuram Rajan on Thursday cautioned that an 'anti-minority' image for the country can lead to loss of market for Indian products and may also result in foreign governments perceiving the nation as an unreliable partner. India enters the perception [...]
No one will go to bed empty stomach in India if it becomes USD 30tn economy by 2050: Adani
Mumbai, Apr 21 (PTI) Industrialist Gautam Adani, whose group runs a slew of businesses from airports to ports, and power generation to distribution, has said if the country becomes a USD 30-trillion economy as projected by 2050, it can also be home to a nation wherein no one will go to bed on empty stomach. [...]
Failure of car manufacturer to provide airbag system should be subject to punitive damages: SC
New Delhi, Apr 21 (PTI) Failure of a car manufacturer to provide an airbag system should be subject to punitive damages which can have a deterrent effect, the Supreme Court has said.“The failure to provide an airbag system which would meet the safety standards as perceived by a carbuyer of reasonable prudence, in our view, [...]
TVS Motor invests 100 mln pounds in Norton Motorcycles
New Delhi, Apr 21 (PTI) TVS Motor Company on Thursday said it has invested a total of 100 million pounds (about Rs 995 crore) in Norton Motorcycles, Britain's most iconic sporting motorcycle brand, which it acquired in April 2020. TVS Motor Company had acquired Norton Motorcycles for 16 million pounds (around Rs 153 crore). "The [...]
RBI extends Legal Entity Identifier for larger borrowers of NBFCs and UCBs
Mumbai, Apr 21 (PTI) The Reserve Bank on Thursday extended the guidelines on Legal Entity Identifier (LEI) to large borrowers of NBFCs and Primary (Urban) Co-operative Banks (UCBs). On a review, it has been decided that the guidelines on LEI stand extended to Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Financial Companies (NBFCs), the RBI [...]
ED raids JSPL premises in Delhi, Gurugram over forex violation
New Delhi, Apr 21 (PTI) The Enforcement Directorate on Thursday conducted searches at the premises of industrialist Naveen Jindal's company JSPL in connection with a probe linked to alleged violation of foreign exchange regulations, officials said.They said the agency officials visited office premises of Jindal Steel and Power Limited (JSPL) in Delhi and neighbouring Gurugram [...]
Karnataka mining; SC appoints ex-judge B Sudershan Reddy to oversee CEPMIZ implementation
New Delhi, Apr 21 (PTI) The Supreme Court on Thursday appointed former apex court judge Justice B Sudershan Reddy as the oversight authority to monitor the implementation of a scheme for restoration and health projects in the iron ore mining-affected Ballari, Chitradurga, and Tumakuru districts in Karnataka. Karnataka was seeking directions for [...]
Banks globally need to compete with fintech players to keep pace: Report
New Delhi, Apr 21 (PTI) Banks globally need to compete with new-age fintech players in providing seamless and cost-effective services and catering to the growing retail banking requirements of customers, a report said on Thursday. Retail banks are currently lagging in their ability to offer true omni-channel experiences as customers pivot to competitors that offer [...]
Panasonic Life Solutions India inaugurates manufacturing unit in Sri City, Andhra Pradesh
New Delhi, Apr 21 (PTI) Panasonic Life Solutions India on Thursday announced the opening of its new facility in Sri City, Andhra Pradesh where it would manufacture wiring devices. This is the first electrical equipment manufacturing base of the company in southern India and seventh in the country, said Panasonic Life Solutions India in a [...]
UK industry chief eyes British PM Boris Johnson’s visit momentum for India-UK ties
London, Apr 21 (PTI) India-UK trade is just scratching the surface and British Prime Minister Boris Johnson’s visit to India will build momentum towards a multi-fold increase in goods and services trade, a British industry chief said on Thursday.Lord Karan Bilimoria, the Indian-origin president of the Confederation of British Industry, is in New Delhi for [...]
Tomar urges more farmers to join FPOs
New Delhi, Apr 21 (PTI) Agriculture Minister Narendra Singh Tomar on Thursday launched a logo for a scheme that promotes setting up of 10,000 Farmer Producer Organisations (FPOs), and said more farmers should be part of such organisations. In February 2020, the union government launched a new central scheme "Formation and Promotion [...]
Rallis India posts Rs 14 crore loss in Q4
Mumbai, Apr 21 (PTI) Rallis India, a subsidiary of Tata Chemicals, on Thursday reported a consolidated loss of Rs 14 crore for the March quarter due to multiple challenges, including in seeds business. The company has posted a consolidated profit after tax of Rs 8 crore during the corresponding quarter of the previous financial year, [...]
L&T Technology Services bags $100 mn deal from Jaunt Air Mobility
New Delhi, Apr 21 (PTI) L&T Technology Services Limited has garnered a multi-year deal worth USD 100 million (about Rs 761 crore) from the US-based Jaunt Air Mobility.As part of the deal, L&T Technology Services (LTTS) will open an engineering and R&D centre in Québec province to provide engineering services to Jaunt Journey eVTOL (electric [...]
Nicomac Machinery offloads 53 lakh shares of Gland Pharma worth Rs 1,722 cr
New Delhi, Apr 21 (PTI) Nicomac Machinery Pvt Ltd on Thursday offloaded 53 lakh shares of Gland Pharma for nearly Rs 1,722 crore through an open market transaction. According to bulk deal data available with the BSE, Nicomac Machinery sold a total of 5,379,343 shares, amounting to 3.3 per cent stake in the company. The [...]
NITI Aayog, UNICEF India tie up for development goals related to children
New Delhi, Apr 21 (PTI) Government think-tank NITI Aayog and UNICEF India on Thursday joined hands to work towards achieving the United Nations sustainable development goals related to children in the country. NITI Aayog and UNICEF India signed a Statement of Intent (SoI) on the Sustainable Development Goals (SDGs) with a focus on children, according [...]
Future group firms complete shareholders, creditors meetings over Reliance deal
New Delhi, Apr 21 (PTI) Several listed Future group firms, including flagship Future Retail, have completed meetings of their respective shareholders and creditors to consider and approve the Rs 24,713 crore deal to sell their assets to billionaire Mukesh Ambani's Reliance Retail Ventures Ltd despite objections from Amazon. The entities include Future Retail, Future Enterprises, [...]
Infra credit by banks, NBFC-IFCs up 6 pc to Rs 25.7 lakh cr in Apr-Dec 2021
Mumbai, Apr 21 (PTI) Total infrastructure credit by banks and NBFC infrastructure finance companies (NBFC-IFCs) registered a slower growth of 6 per cent at Rs 25.7 lakh crore in the first nine months of fiscal 2022, says a report. Over the years, the share of banks in total infrastructure credit has been reducing, while [...]
‘Windergy India 2022’ aims to catalyse up to Rs 15,000 cr investment into wind energy equipment
New Delhi, Apr 21 (PTI) Wind energy trade fair and conference, Windergy India 2022, scheduled later this month is aimed at catalysing investment of up to Rs 15,000 crore into component manufacturing in the country, organisers said on Thursday. The three-day wind energy event will be held at Pragati Maidan here from April 27-29, 2022, [...]
HMSI looks to sell 10 lakh electric two-wheelers annually by 2030
Manesar, Apr 21 (PTI) Honda Motorcycle & Scooter India (HMSI) on Thursday said it plans to launch multiple electric models as it targets to sell around 10 lakh units annually, accounting for 30 per cent of its total sales by 2030. The company will also foray into the entry level 100 cc bike segment as [...]
MIAL eviction notice to Air India as per agreement: Scindia
Mumbai, Apr 21 (PTI) Union Civil Aviation Minister Jyotiraditya Scindia on Thursday said the Adani Group-controlled city airport's notice to Air India asking it to vacate plots on which 1,600 families reside, is as per agreement. Maintaining that the government has nothing to do with the notice, Scindia said there was a "holding period" of [...]
Pakistan’s new govt passes orders to scrap China-Pakistan Economic Corridor Authority
Islamabad, Apr 21 (PTI) Pakistan's new government has initiated a process to abolish the China-Pakistan Economic Corridor Authority, with the planning minister saying it was a "redundant organisation" that wasted resources and thwarted speedy implementation of the ambitious regional connectivity programme. Planning Minister Ahsan Iqbal passed orders to the concerned officials to begin the process [...]
Apollo Tyres opens Digital Innovation Hub in London
New Delhi, Apr 21 (PTI) Apollo Tyres on Thursday said it has opened its Digital Innovation Hub in London and has partnered with Glasgow University to work in areas like artificial intelligence, machine learning and data mapping to improve manufacturing efficiency, quality, and sustainability. The innovation hub is also implementing an ongoing internship programme for [...]
B2B packaging e-commerce startup DCGpac raises Rs 11.45 crore
Mumbai, Apr 21 (PTI) B2B packaging e-commerce platform DCGpac on Thursday said it raised Rs 11.45 crore in a funding round led by Venture Catalysts and 9Unicorns with participation from Inflection Point Ventures. The fund will be used for building the technology front, marketing for growth, implementing other growth initiatives and managing the working capital [...]
HCL Tech net profit surges to Rs 3,593 cr in Q4
New Delhi, Apr 21 (PTI) IT services company HCL Technologies on Thursday saw its net profit zoom to Rs 3,593 crore for quarter ended March 2022, and struck an optimistic note about "buoyant" market environment citing "strong momentum across verticals and service lines". The net profit was Rs 1,102 crore in the year-ago period. HCL [...]
Bengal forms sectoral panels for govt-industry synergy
Kolkata, Apr 21 (PTI) The West Bengal government on Thursday announced setting up of sectoral committees to forge synergies between the authorities and industries in which business doyens will function as co-chairmen.Amit Mitra, the principal chief advisor to Chief Minister Mamata Banerjee, said the committee for agriculture and allied products will be co-chaired by ITC [...]
Cathay Pacific to resume scheduled flight services to India from May 4
Mumbai, Apr 21 (PTI) Hong Kong-based international airline Cathay Pacific on Thursday said it will resume scheduled flight services to India in a phased manner from May 4 onwards. Flight services on the Mumbai-Hong Kong route will resume from May 4, while the air connectivity between Hong Kong and Delhi will be restored from [...]
GAIL, HPCL to pump in Rs 17,000cr to boost Bengal CNG infra
Kolkata, Apr 21 (PTI) GAIL, its JV company Bengal Gas Co and Hindustan Petroleum Corporation Ltd’s combined investment in various CNG projects in West Bengal will be Rs 17,000 crore over the next five years, senior officials said on Thursday.The projects include piped gas distribution and setting up of Compressed Natural Gas (CNG) stations. Availability [...]
JCB opens new factory in Gujarat with 100 mn pound investment
New Delhi, Apr 21 (PTI) Construction equipment major JCB on Thursday said it has opened its newest factory in India set up at an investment of 100 million pounds (nearly Rs 995 crore), with British Prime Minister Boris Johnson inaugurating the facility. The plant located at Vadodara in Gujarat will fabricate parts for global production [...]
TVS Motor lines up 100 mn pound investment in Norton Motorcycles
New Delhi, Apr 21 (PTI) TVS Motor Company on Thursday said it will invest another 100 million pounds (about Rs 995 crore) in Norton Motorcycles, Britain's most iconic sporting motorcycle brand, which it acquired in April 2020. TVS Motor Company had acquired Norton Motorcycles for GBP 16 million (around Rs 153 crore). "The company is [...]
India keen to raise oil imports from Brazil
New Delhi, Apr 21 (PTI) India, the world's third biggest oil importer and consumer, is keen on raising oil imports from Brazil as it looks to diversify its purchases. "The Indian side expressed interest for sourcing crude oil under long-term special contracts," an official statement said after Oil Minister Hardeep Singh Puri met visiting Brazilian [...]
73 m steel span installed for Delhi-Gzb-Meerut RRTS corridor
New Delhi, Apr 21 (PTI) The National Capital Region Transport Corporation (NCRTC) has successfully installed a 73-metre-long special steel span for the Delhi-Ghaziabad-Meerut RRTS corridor to cross the main road of the Eastern Peripheral Expressway (EPE) near Duhai on the main carriageway of Delhi-Meerut Road. With the successful installation of this special steel span, the [...]
Vedanta Aluminium hires transgender employees at subsidiary BALCO
Mumbai, Apr 21 (PTI) Vedanta Aluminium on Thursday said it has hired seven transgender employees at its subsidiary Bharat Aluminium Company (BALCO). Four of them have been engaged in forklift operations at cast house and three others in security function at Chhattisgarh-based BALCO, Vedanta Aluminium said in a statement. According to the statement, this is [...]
Sebi issues Rs 2 crore recovery notice to ex-NSE chief
New Delhi, Apr 21 (PTI) Capital markets regulator SEBI on Thursday sent a notice to NSE's former chief Ravi Narain, asking him to pay Rs 2.06 crore in a case related to governance lapses at the stock exchange, and warned of arrest and attachment of assets and bank accounts if he fails to make the [...]
RBI prohibits issuance of unsolicited cards by issuers
Mumbai, Apr 21 (PTI) The Reserve Bank on Thursday asked card companies not to issue unsolicited credit cards or upgrade an existing card without the explicit consent of the customer, failing which they will have to pay double the billed amount as penalty. It also asked card issuers and third-party agents not to resort to [...]
OneWeb inks pact with ISRO commercial arm for launching satellites
New Delhi, Apr 21 (PTI) Bharti group-backed OneWeb and New Space India Limited, the commercial arm of the Indian Space Research Organisation, have entered into an agreement that will help ensure OneWeb completes its satellite launch programme. The first launch with New Space India is expected in 2022 from the Satish Dhawan Space Centre (SDSC) [...]
Panasonic Life Solutions’ first electrical construction material unit in South India goes on stream
Chennai, Apr 21 (PTI) Panasonic Life Solutions India, a subsidiary of Japan-based Panasonic Corporation, has opened its first electrical construction material manufacturing unit in Southern region, set up at a total outlay of Rs 600 crore. The facility aims to produce more than 200 million pieces of switches per year in the next five years, [...]
Govt to take action against defaulting EV firms in e-scooter fire accidents: Gadkari
New Delhi, Apr 21 (PTI) With increasing incidents of electric two-wheelers catching fire, Union minister Nitin Gadkari on Thursday said the government will issue necessary orders on defaulting companies after receiving the report of an expert panel that has been formed to enquire into the matter. In a series of tweets, Gadkari said several mishaps [...]
LG India expects 30 pc growth in home appliances, AC business in 2022
New Delhi, Apr 21 (PTI) Consumer electronics company LG Electronics India on Thursday said it expects around 30 per cent growth in 2022 in its home appliances and air-conditioner business, on the back of strong demand and new product launches. The company unveiled a new lineup of home appliances on Thursday and said it is [...]
Reliance Retail to start artisan-only store format ‘Swadesh’
New Delhi, Apr 21 (PTI) Reliance Retail on Thursday said it will launch a dedicated artisan-only store format 'Swadesh', which will showcase agriculture & food products, handlooms, clothing, textiles, handicraft and handmade natural products. This will boost its “handmade in India” programme and provide a global platform for artisans and sellers of handcrafted products, said [...]
Edible oil industry demands hike in import duty gap between crude and refined palm oil
New Delhi, Apr 21 (PTI) Amid a sharp rise in imports of refined palm oil, edible oil industry body SEA on Thursday demanded that the government should increase the difference between the import duty levied on crude palm oil and on its refined form. The Solvent Extractors Association (SEA) of India has demanded the import [...]
Two-day business conclave to open in Vizag on April 22
Visakhapatnam, April 21 (PTI): A two-day Bizz Buzz Business Conclave, being organised by the Hans India in association with the World Trade Centre Visakhapatnam, will begin here on Friday.This will be the first in the series of such conclaves planned by the Hans Group in Tier-2 cities, according to Hans India Chief Editor V Ramu [...]
HERC pulls up Haryana discoms, EESL for lax in installing smart meters
Panchkula, Apr 21 (PTI) The Haryana power watchdog has pulled up state discoms and private firm EESL for the delay in the completion of the smart metering project in four districts and directed the Managing Director of the firm to be present in person before it on June 8. Taking suo motu notice of "any [...]
MCL asks Nalco to go beyond rail mode to build up coal stock
Sambalpur (Odisha), Apr 21 (PTI) As Nalco faces an acute shortage of coal at its smelter plant in Angul and the company's captive power plant, Mahanadi Coalfield Limited (MCL) Thursday said that the aluminium major should arrange for transportation of the dry fuel beyond the rail mode to build up its coal stock.The MCL’s reaction [...]
FinMin bars PSEs from buying state-owned cos
New Delhi, Apr 21 (PTI) The finance ministry has barred public sector enterprises from bidding for other Central Public Sector Enterprises (CPSEs) which are on the block for privatisation, as it would defeat the very purpose of the disinvestment policy. Stating that transfer of management control from the government to any other government organisation or [...]
ICICI Lombard General Q4 profit falls 10% to Rs 313 cr
New Delhi, Apr 21 (PTI) ICICI Lombard General Insurance Company on Thursday reported 10 per cent decline in net profit at Rs 313 crore for the fourth quarter ended March 2022.The non-life insurer had posted a net profit of Rs 346 crore in the corresponding period of 2020-21. The gross direct premium income (GDPI) of [...]
Ergos Aims to Clock Rs. 1,800-2,000 Crore Revenue by Next Year on its Tech Platform, to Connect Half a Million Farmers
Mumbai, Maharashtra, India (NewsVoir) • Plans to almost double the existing footprint from 337 to 650 locations across Bihar, Karnataka, Maharashtra and UP in the next one year • Karnataka and Maharashtra are expected to grow with 100 Grain Banks operational in each state • Revolutionizing the AgriTech space by digitizing grains and empowering farmers [...]
Bangladesh likely to export hilsa to India this Durga Puja as well
By Jayanta Roy Chowdhury Kolkata, Apr 21 (PTI) Continuing its 'hilsa diplomacy', Bangladesh is likely to export the prized silver fish to India during this year's Durga Puja as well.Bangladesh Commerce Minister Tipu Munshi told PTI that his country's Prime Minister Sheikh Hasina made a special exemption for India in the last couple of years [...]
West Bengal aiming at doubling exports of agriculture & allied products by 2030
Kolkata, Apr 21 (PTI) West Bengal is aiming to double exports of agricultural, horticultural and animal-based produce by 2030, and has introduced several “enabling policies” to fructify the objective, a top state government official said on Thursday. The government has identified export clusters across the state to ensure focused processing and higher production, he said. [...]
Discord between value, valuation expectation in fintech, digitech space: Kamath
Mumbai, Apr 21 (PTI) Veteran banker K V Kamath on Thursday said there is a discord between value created and valuation expectation of fintech and digitech companies and emphasized on the need to set it right. Speaking at the Times Network's India Economic Conclave, Kamath said about six months back, fintech companies were strong and [...]
Andromeda expects 58% growth in loan disbursals to over Rs 60,000 cr in FY23
New Delhi, Apr 21 (PTI) Loan distributor Andromeda expects around 58 per cent growth in its loan disbursals to Rs 60,664 crore during the current fiscal on the back of recovery in the economy and renewed demand in the housing sector. The company's loan disbursals, comprising home loans, loans against property, personal loans, business loans [...]
Google, nurture.farm collaborate to provide tech-led agri solutions
Mumbai, Apr 21 (PTI) Agri-tech platform nurture.farm on Thursday said it has entered into a research collaboration with Google to identify scalable and cost-effective solutions for soil quality measurement across farmland in India.The collaboration aims to enable farmers with informed decisions, which improve their yield and profitability across seasons, nurture.farm said in a statement.The two [...]
ITC plans to broaden dairy products portfolio, tap Bengal’s ‘low’ milk availability
Kolkata, Apr 21 (PTI) Diversified conglomerate ITC Ltd is looking to widen its product portfolio in the dairy segment and tap the “low” milk consumption in West Bengal, a company official said on Thursday. Per capita availability of milk in West Bengal is 'low', one-third of the national average of 427 grams per day, he [...]
Niti Aayog issues draft battery swapping policy; moots incentives, rigorous testing protocol
New Delhi, Apr 21 (PTI) Government think tank Niti Aayog on Thursday came out with a draft battery swapping policy for electric vehicles and suggested incentives as well as a rigorous testing protocol for swappable batteries. The draft policy also comes at a time when there are rising concerns over safety issues around electric vehicles [...]
All aboard for Sea Tech Week® 2022
NEW DELHI, April 21, 2022 /PRNewswire/ -- India is the country of honour for the Sea Tech Week® and will be making waves from 26th – 30th September 2022 at Brest Expo, France. Registration is now open for visitors and exhibitors. Avail the Early Bird before 31st May. International Stakeholders across business, academia, and governmental [...]
Netflix’s shares tumbled 35.12%; affected by the “woke mind virus”
There was a freefall of 35.12% in the share price of Netflix on Wednesday, which left Wall Street shocked. The share price tumbled after the company announced that there was an unexpected drop in the number of subscribers. It lost about 2,00,000 subscribers in the first quarter of 2022 and is anticipating a loss of [...]
British PM Boris Johnson favours more skilled visas for Indians
London, Apr 21 (PTI) British Prime Minister Boris Johnson has expressed his support for more skilled visas for Indians as part of the efforts to expedite the ambitious free trade agreement (FTA) being negotiated between the two countries.Speaking to reporters from the UK on the prime ministerial flight to Ahmedabad on Wednesday night, Johnson acknowledged [...]
Want to wrap up trade deal with India within a year: Bangladesh Commerce Minister
By Jayanta Roy Chowdhury Kolkata, Apr 21 (PTI) Dhaka wants to wrap up the comprehensive economic partnership agreement (CEPA) with India within the next one year, Bangladesh Commerce Minister Tipu Munshi said here on Thursday.In an exclusive interview to PTI, Munshi said that Bangladesh is in the advanced stage of talks with the Tata Group [...]
BULLION CLOSING RATE
BULLION CLOSING RATE MUMBAI, APRIL 21 (PTI) MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 68,355.00 67,330.00 STANDARD GOLD (99.5) : 52,540.00 52,330.00 PURE GOLD (99.9) : 52,751.00 52,540.00 -------------------- PTI MUM SSBSSB SSB
M5 Entertainment Talent Agency Engages Kiara Advani and TaapseePannu in Stellar Deals for Belora and Arata
Mumbai, Maharashtra, India (NewsVoir) M5 Entertainment Talent Agency has recently signed up both Kiara Advani and TaapseePannu as brand ambassadors for Belora Cosmetics and Arata - Advanced Curl Care hair Gel respectively in the last month. These two deals come at the back of a very successful year for M5 Entertainment. "The process of these [...]
‘Official Sponsors of Investing’ Social Media Campaign by Kuvera.in goes Viral
Mumbai, Maharashtra, India (NewsVoir) The 15th edition of the IPL has once again seen a flurry of activity amongst advertisers where everyone wants to jump on the bandwagon and cash in on the frenzy. As per data available from TAM Sports, a division of TAM Media Research the average ad volume per channel saw a [...]
NDDB to provide financial support to set up 12 milk plants in Punjab
New Delhi, Apr 21 (PTI) National Dairy Development Board's (NDDB) chairman Meenesh Shah on Thursday said the board will support Punjab government's endeavour to set up additional 12 milk plants in the state with an estimated outlay of about Rs 900 crore. In a meeting with Punjab's Animal Husbandry Minister Kuldip Singh Dhaliwal at Anand, [...]
Bhanu Prakash Srivastava assumes charge as BEL Director
Bengaluru, Apr 21 (PTI) Bhanu Prakash Srivastava on Thursday assumed charge as the director (Other Units) of Navratna Defence Public Sector Unit (PSU) Bharat Electronics Limited (BEL).Srivastava was serving as the general manager of the Advanced Defence Systems-Navy (ADSN) Strategic Business Unit at BEL’s Bangalore Complex before his elevation, the BEL said in a statement.It [...]
Vedanta group’s philanthropic arm partners Haryana govt for animal welfare project
New Delhi, Apr 21 (PTI) Vedanta group's philanthropic arm Anil Agarwal Foundation has entered into a pact with Haryana government to start an animal welfare project with an initial corpus of Rs 100 crore. It will start in the National Capital Region (NCR) and will later be expanded across other states. "Anil Agarwal Foundation...announced the [...]
Sensex rallies for 2nd day as RIL, HDFC twins maintain momentum
Mumbai, Apr 21 (PTI) The BSE Sensex defied gravity for the second session in a row on Thursday as market majors Reliance Industries, Infosys and HDFC twins continued to attract investor attention amid a sustained uptick in world markets. Value-buying persisted in bluechips as well as select mid- and small-cap counters after their recent spell [...]
Domestic demand for tyres to grow 7-9 pc this fiscal: ICRA
New Delhi, Apr 21 (PTI) Domestic demand for tyres is projected to grow 7-9 per cent in 2022-23 but the rise in input prices is expected to keep industry margins under pressure, according to ratings agency ICRA. Factors like gradual easing of supply related constraints in the passenger vehicle OE (original equipment) segment, improving growth [...]
Govt must keep 5G spectrum fee low; faster roll out to have greater impact, says Airtel
Mumbai, Apr 21 (PTI) Telecom service operator Airtel on Thursday urged the government not to charge high fees for allotting 5G spectrum, saying a faster roll out of the next-generation telecommunication network can have more benefits than collecting revenue in upfront cost. Sunil Bharti Mittal, chairman of Bharti Enterprises which runs the country's second largest [...]
Tata Motors Finance recognized for its contribution to the MSME sector’s growth
The leading vehicle financier is a recipient of three MSME Banking Excellence Awards instituted by CIMSME Rohit Tiku, Chief Risk Officer, Tata Motors Finance, receiving MSME Banking Excellence Award New Delhi (India), April 21: Tata Motors Finance, one of India’s leading NBFCs, and a pioneer in the vehicle financing industry, has been conferred as winner [...]
India sends one more consignment of 40,000 MT of diesel to Sri Lanka
Colombo, Apr 21 (PTI) India on Thursday said it has delivered one more consignment of 40,000 MT of diesel to Sri Lanka under the Indian credit line to help ease the acute power crisis in the island nation.A total of close to 400,000 MT of various types of fuel have been delivered with Indian assistance [...]
New Pak Finance Minister leaves for talks with IMF officials for revival of USD 6 billion bailout package
Islamabad, Apr 21 (PTI) Pakistan’s newly-appointed Finance Minister Miftah Ismail on Thursday left for Washington to meet top IMF officials to renegotiate a USD 6 billion bailout package that was stalled by the previous Imran Khan regime. Under the agreement signed in 2019, Pakistan would receive USD 6 billion for a period of 39 months, [...]
HDFC Bank to open 150 branches in UP this year; to create 1,000 jobs
Lucknow, Apr 21 (PTI) Private lender HDFC Bank on Thursday said it will open 150 new branches across Uttar Pradesh this year, creating more than 1,000 direct jobs. Majority of these branches will be opened in rural areas, said Akhilesh Kumar Roy, branch banking head of UP, HDFC Bank. "We are committed to supporting the [...]
Steep rise in people opting for personal loans to celebrate festivals: Report
Mumbai, Apr 21 (PTI) Origination of personal loans, where a borrower avails credit without any security, doubled during the 2021 festive season as compared to three years ago, indicating an increased propensity among people to celebrate using such instruments, a report said on Thursday. Personal loan origination in value terms doubled to over Rs 1.47 [...]
Dhanlaxmi Bank signs MoU with CBDT and CBIC for tax collection
New Delhi, Apr 21 (PTI) Dhanlaxmi Bank on Thursday said it has signed a memorandum of understanding with Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) for collection of taxes. The bank has been authorised by the Reserve Bank of India (RBI) based on the recommendation from the [...]
HarperCollins India to publish The Magicians of Mazda by Ashwin Sanghi in May 2022
NEW DELHI, April 21, 2022 /PRNewswire/ -- HarperCollins is delighted to announce its acquisition of the keenly anticipated new book by bestselling author, Ashwin Sanghi - India's master storyteller with more than a million copies of his books sold in print in English and other Indian languages. HarperCollins India will publish his next novel (Book [...]
PEPPER COPRA CLOSING
MUM PEPPER COPRA CLOSING RATES MUMBAI, APR 21 (PTI) Mumbai :- PEPPER COPRA RATES :- BLACK PEPPER READY 560 / 620 GINGER BLEACHED -- GINGER UNBLEACHED 155 COPRA OFFICE ALAPUZHA 9600 COPRA OFFICE KOZIZODE 9300 COPRA RAJAPUR MUMBAI 19500 COPRA EDIBLE MUMBAI 13000 COCHIN COCONUT OIL ---- COCONUT OIL MUMBAI 1750 T.P ------------ PTI MUM [...]
Personal care brand Nat Habit raises USD 4 mn
Mumbai, Apr 21 (PTI) Nat Habit, a direct to consumer personal care brand that claims to sell only chemical-free products, has raised USD 4 million (about Rs 30 crore). The series A funding round was led by consumer-brands-focused Fireside Ventures, along with participation from the existing investors. It also provided exits to some of the [...]
NFT cricket platform Rario raises $120 mn from Dream Sports, Alpha Wave
Mumbai, Apr 21 (PTI) Rario, creators of the world's first cricket NFT platform, has mopped up USD 120 million (about Rs 914 crore) in Series-A funding round led by Dream Capital, the corporate venture capital arm of Dream Sports, and Alpha Wave Capital.Rario claims to have the largest share of cricket NFT (non-fungible token) rights [...]
Govt to direct transfer stipend payment to apprentices: Pradhan
New Delhi, Apr 21 (PTI) A digital dashboard will be set up to further streamline the apprenticeship process and the stipend amount will be transferred directly in the bank account of apprentices engaged by the industry, Union minister Dharmendra Pradhan said on Thursday. Addressing at the launch of the National Apprenticeship Mela across 700 locations [...]
Flipkart opens e-commerce fulfilment centre in West Bengal
New Delhi, Apr 21 (PTI) E-commerce company Flipkart on Thursday said it opened a fulfilment centre at Haringhata in West Bengal spread over 110 acres with potential to create 11,000 direct and indirect jobs in the area. The facility was inaugurated virtually during the Bengal Global Business Summit (BGBS) by West Bengal Chief Minister Mamta [...]
COMMODITY PRICES
SLUG : COMMODITY PRICES BCM : ESPL/ECO/COM MUMBAI, APRIL 21 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST. COPPER :- COPPER CABEL SCRAP (BERRY) 802.00 COPPER HEAVY SCRAPS 791.00 COPPER ARMATURE (CREDIT) 773.00 COPPER UTENSILS SCRAP 712.00 CC ROD 845.00 CC ROD (RECYCLED) 805.00 BRASS :- BRASS SHEET CUTTING 588.00 BRASS UTENSIL SCRAP 549.00 BRASS HONEY [...]
Lanka lifts curfew in Rambukkana; troops called in as precautionary measure
Colombo, Apr 21 (PTI) The Sri Lankan government on Thursday deployed troops as a precautionary measure in the southwestern region of Rambukkana where one person was killed and 13 others were injured in violence after the police opened fire at unarmed anti-government protestors demonstrating against the latest fuel price hike. Earlier, the authorities lifted the [...]
Niti Aayog issues draft battery swapping policy; moots incentives, rigorous testing protocol
New Delhi, Apr 21 (PTI) Government think tank Niti Aayog on Thursday came out with a draft battery swapping policy for electric vehicles and suggested incentives as well as a rigorous testing protocol for swappable batteries. The draft policy also comes at a time when there are rising concerns over safety issues around electric vehicles [...]
India adds renewable capacity of 13.5 GW in 2021-22
New Delhi, Apr 21 (PTI) India added 13.5 GW of renewable energy capacity in 2021-22, which is 128 per cent higher than that in 2020-21, a statement said on Thursday. India added 10.21 GW of utility scale solar capacity, 1.11 GW of wind power and 2.22 GW of rooftop solar capacity in FY 2021-22, consultancy [...]
GreenCell Mobility launches intercity coach NueGo
New Delhi, Apr 21 (PTI) Shared electric mobility player GreenCell Mobility on Thursday announced the launch of intercity coach brand 'NueGo' with an initial plan to have services across 24 cities in India. In the initial phase, 250 electric buses will connect 24 cities, while the overall plan is to roll out 750 premium air [...]
Things moving on track as per schedule on 5G: Vaishnaw
New Delhi, Apr 21 (PTI) Just days after the telecom regulator came out with its recommendations on spectrum pricing and auction modalities, Communications Minister Ashwini Vaishnaw on Thursday said that things are moving "as per schedule" on 5G. The comment assumes significance as the Indian market is gearing up for the next-generation 5G services, that [...]
OILSEEDS PRICES
APRIL 21, 2022 MUMBAI, (PTI) DEOILED CAKES (per M.T.) G.N.Extr.45% 39000.00 Kardi Extr - Sesame Extr - Cottonseed Extr - Undec Cottonseed - Rice Bran Extr. - Sunflower Extr. 28000.00 Rapeseed Extr. - Soyameal 48% 62087.00 Castor Extr. 9950.00 OIL SEEDS (per 100 Kgs) Gr. Kernel 8200.00 Gr. Bolds 60/70 8800.00 Gr. Javas 60/70 9900.00 [...]
Tesla Power USA to lease BESS worth USD 1 bn in next 3 years
New Delhi, Apr 21 (PTI) Tesla Power USA on Thursday said it will lease battery energy storage system (BESS) worth USD 1 billion under its new 'power as a service' model in the next two to three years. The company said that it will contribute to the increasing energy demand in India by providing BESS [...]
Inventys Research raises Rs 255 crore
New Delhi, Apr 21 (PTI) Speciality chemicals maker Inventys Research Company Pvt Ltd has raised Rs 255 crore for expansion and growth. The company said in a statement on Thursday that it has closed a private placement round of Rs 255 crore. Arpit Khandelwal, managing partner at Plutus Wealth Management LLP, committed Rs 225 crore [...]
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