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Transformer stock in focus after capacity expansion plan to support India’s power demand
This Transformer company, which is a manufacturer of power transmission cables has three business segments which include Transformer and specialty oils, Conductors, and Power/telecom Cables in focus after the company announced capacity expansion. Price Movement In Monday’s trading session, Apar Industries Limited's stock was trading at Rs. 8,800 per share down by 1.60 percent. The [...]
What are the reasons behind Samsung shares surging 8% today?
Electronics and semiconductor chip manufacturing is the backbone of modern technology, powering everything from smartphones and computers to automobiles and industrial equipment. As the global demand for smarter, faster, and more efficient devices grows, the semiconductor industry plays a critical role in innovation and economic development. This complex process involves designing and fabricating microchips with [...]
How to make 36% in the stock market and also save taxes?
Tax savings in India involve utilizing various provisions under the Income Tax Act to reduce taxable income while staying compliant with legal norms. Individuals can claim deductions under Section 80C, which includes investments in options like the Public Provident Fund (PPF), Employee Provident Fund (EPF), Equity Linked Savings Schemes (ELSS), and National Savings Certificate (NSC). [...]
Stock jumps after company’s net profit increases by 3500% in H1FY25
Microcap stock engaged in manufacturing caps, closures, and many others catering to packaged drinking water, carbonated soft drink, and other beverage players in focus following 3500 percent jump in Net profits and capex plans worth Rs. 15 Crores. Price Action With a market capitalization of Rs. 877 Crores, the shares of Cool Caps Industries Limited [...]
Stock under ₹30 jumps 6% after company’s board sets record date for 1:2 stock split
The shares of this construction company gained up to 6 percent in the morning trading session after the company’s board fixed the record date for the purpose of a stock split in the ratio of 1:2. With a market capitalization of Rs 58.22 crore, the shares of Julien Agro Infratech Ltd were trading at Rs [...]
Power stock jumps 3% after company sets record date for 1:10 stock split
Shares of this small-cap company, providing business of manufacturing of Transmission & distribution of power products & services up 3 percent to Rs.3,9255 per share, following the announcement of a board meeting to finalize plans for issuing bonus shares. Price Variation In Monday’s session, Diamond Power Infrastructure Limited's share price jumped 2.6 percent to a [...]
Stock hits 20% upper circuit after announcing 102% YoY increase in net profits
Logistics stock engaged in providing cargo General Sales and Service Agent (GSSA) services including sales, marketing, operations, and many more hit a 20 percent upper circuit in the day’s trade following 102 percent jump in Net Profits. Price Action With a market capitalization of Rs. 280 Crores, the shares of Zeal Global Services Limited hit [...]
Defence stock hits upper circuit after reporting 127% YoY increase in net profits
This Microcap stock, which is in the business of Steel Goods trading, Industrial Goods, Engineering, and Erection business hit 2 percent upper circuit after the company reported a net profit increase of 127 percent. Price Movement In Monday’s trading session, Atmastco Limited stock hit a 2 percent upper circuit in the day’s trade after the [...]
Auto stock to buy now for an upside of 20%; Do you own it?
The 2/3 wheeler industry in India is a significant sector, contributing approximately $10 billion to the economy. In 2022, the industry sold over 21 million units, with a projected growth rate of 8% annually. This sector plays a crucial role in providing affordable transportation and employment for millions across the country. With a market capitalization [...]
Infra stock hits 5% upper circuit after reporting 393% YoY increase in net profits
Multibagger stock engaged in providing engineering, procurement, and construction (EPC) services, operation & maintenance, and many more hit a 5 percent upper circuit in the day’s trade following 393 percent jump in Net Profits. Price Action With a market capitalization of Rs. 782 Crores, the shares of RBM Infracon Limited hit a 5 percent upper [...]
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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
Atal Pension Yojana subscribers count cross 4 crore mark by Mar’2022
New Delhi, Apr 21 (PTI) Total enrolments under the Atal Pension Yojana, which is targeted at workers in the unorganised sector, have crossed the 4 crore mark by the end of 2021-22, the PFRDA said on Thursday. More than 99 lakh APY accounts were opened during FY2021-22, taking the number of subscribers to 4.01 crore [...]
Demand for industrial, warehousing spaces in Pune may rise 15 pc in 2022: JLL India
New Delhi, Apr 21 (PTI) The demand for industrial and warehousing spaces in Pune may rise by 15 per cent to around 7.5 million square feet this year on better demand from e-commerce and third party logistic firms, according to JLL India. Pune witnessed peak demand of 6.5 million square feet in 2021. "Projected growth [...]
HMSI plans to launch multiple EV models
Manesar, Apr 21 (PTI) Honda Motorcycle & Scooter India (HMSI) on Thursday said it plans to launch multiple electric models, foray into entry level 100 cc bike segment, and enhance exports as part of the future business roadmap in the country. The company plans to develop its Manesar-based manufacturing plant as a global hub for [...]
British PM Johnson meets industrialist Gautam Adani
Ahmedabad, Apr 21 (PTI) British Prime Minister Boris Johnson, who is on a two-day India visit, on Thursday held a meeting with industrialist Gautam Adani here.The meeting took place at the Adani Group's global headquarters at Shantigram on the outskirts of Ahmedabad city. "Honoured to host @BorisJohnson, the first UK PM to visit Gujarat, at [...]
Stanza Living ties up with colleges, corporates to manage their 10,000 hostel beds
New Delhi, Apr 21 (PTI) Co-living operator Stanza Living on Thursday said it has tied up with a number of educational institutes and corporates to manage their nearly 10,000 hostel beds as part of its strategy to expand business. Gurugram-based Stanza Living, which provides rented accommodations to students and working professionals, currently operates more than [...]
Assam getting technically ready to start portable ration card service by Sept: Official
New Delhi, Apr 21 (PTI) Assam, the only state left to get connected under the Centre's One Nation, One Ration Card (ONORC) programme, is getting technically ready to operationalise the scheme by September this year, a senior food ministry official said on Thursday. Under the scheme, individuals holding a ration card under the National Food [...]
NCDEX’s average daily turnover grows 47% to Rs 1,857 crore in FY22
New Delhi, Apr 21 (PTI) Leading agri-commodity bourse NCDEX on Thursday said its average daily turnover rose 47.26 per cent year-on-year to Rs 1,857 crore in the last fiscal despite suspension of trading in some commodities. The exchange's average daily turnover in the previous fiscal was higher than Rs 1,261 crore in FY21 and even [...]
ASK Investment Managers launches Rs 1,500 cr fund
New Delhi, Apr 21 (PTI) Wealth management company ASK Investment Managers Ltd on Thursday has launched a new fund to raise Rs 1,500 crore for investing in manufacturing, financial and other sectors. The fund -- ASK Golden Decade Fund -- is a closed-ended, long-only, Category III alternative investment fund (AIF) that aims to take advantage [...]
Medilabs Launches a New Corporate Office on its 8th Brand Anniversary
Chennai, Tamil Nadu, India (NewsVoir) • Dr. J. Radhakrishnan, Hon. Secretary for Health, Government of Tamil Nadu inaugurated the facility at Selaiyur, Chennai • The diagnostic chain adds two more collection centres, one at Anna Nagar and the other at Mangadu, taking the total number of Medilabs centres to 32 Commemorating its 8th Anniversary, Medilabs, [...]
Indian startup ecosystem gains global recognition: Vaishnaw
New Delhi, Apr 21 (PTI) The Indian startup ecosystem has gained global recognition and respect, Minister for IT and Communications Ashwini Vaishnaw said on Thursday, exhorting the startups and entrepreneurs to come out with inclusive new-age solutions to transform the lives of poor and marginalised sections.Terming startups as "accelerators", the minister said the combination of [...]
Campus Activewear sets IPO price band at Rs 278-292 per share
New Delhi, Apr 21 (PTI) Athleisure footwear company Campus Activewear on Thursday fixed a price band of Rs 278-292 a share for its Rs 1,400-crore initial public offering (IPO). The three-day initial share-sale will open for public subscription from April 26 and the bidding for anchor investors will open on April 25, according to the [...]
NTPC ties up with Delhi Jal Board to convert waste into energy
New Delhi, Apr 21 (PTI) State-owned NTPC has partnered with Delhi Jal Board to convert sludge produced in latter's sewage treatment plants into energy. In Delhi-NCR alone, Sewage Treatment Plants (STPs) produce up to 800 MT of sludge per day. The disposal of the sludge is a major challenge as it contributes towards environmental pollution. [...]
NEWSALERT
Investment proposals worth Rs 3.42 lakh crore received by West Bengal in this year's business summit: CM Mamata Banerjee. PTI DC BSM SOM SOM
Reliance Industries has leverage; stock hits a new all-time high!
Shares of Mukesh Ambani led Reliance Industries hit a fresh all-time high on Thursday’s early deals. The share price of the company has been on an increasing trend for a week, as it rallied 9.77% from ₹ 2545 apiece to ₹ 2781. The company’s share price reached its all-time high of ₹ 2786.80 as it [...]
Hitachi Energy bags Rs 160 cr order
New Delhi, Apr 21 (PTI) Hitachi Energy has bagged a Rs 160 crore order from MP Power Transmission Package-II to modernize the Madhya Pradesh power grid. MP Power Transmission Package-II Ltd is a project-specific business to strengthen the transmission system in rural areas of Madhya Pradesh to increase capacity and improve reliability of the power [...]
First Advantage Releases 2022 India Employment Screening Trends Report
Telecom Sector Shows High Discrepancy Trends in Q4-21 MUMBAI, India, April 21, 2022 /PRNewswire/ -- First Advantage Corporation (NASDAQ: FA), a leading global provider of technology solutions for screening, verifications, safety and compliance related to human capital, announced the publication of its India Employment Screening Trends Report, which is a compilation of anonymized data and [...]
Niti Aayog releases draft battery swapping policy
New Delhi, Apr 21 (PTI) Government think tank Niti Aayog on Thursday released a draft battery swapping policy under which all metropolitan cities with a population above 40 lakh will be prioritised for development of battery swapping network under the first phase. The Aayog in its draft policy further said all major cities such as [...]
Campus Activewear sets IPO price pand at Rs 278-292 per share
New Delhi, Apr 21 (PTI) Athleisure footwear company Campus Activewear on Thursday fixed a price band of Rs 278-292 a share for its Rs 1,400-crore initial public offering (IPO). The three-day initial share-sale will open for public subscription from April 26 and the bidding for anchor investors will open on April 25, according to the [...]
Maruti Suzuki India launches new version of XL6
New Delhi, Apr 21 (PTI) The country's largest carmaker Maruti Suzuki India on Thursday launched a new version of its multi-purpose vehicle XL6 as it gears up to bring a slew of new products this fiscal and take the challenges of prevailing uncertainties head-on.The new XL6 is powered by a 1.5-litre petrol engine with a [...]
Stock Recommendations: Morgan Stanley is bullish on Nykaa shares
After six consecutive sessions of opening in the red, the stock markets opened with gains on Thursday, as they inched higher. The 30 share index (BSE Sensex) was up 495 points, at 57533.31. The NSE Nifty, which is a 50 share index, breached the 17200 mark. It was up 146 points at 17282.85 points. The [...]
Guar seed futures decline amid ample supplies
New Delhi, Apr 21 (PTI) Guar seed prices on Thursday declined by Rs 6 to Rs 6,342 per 10 quintals in futures trade amid increasing supplies from producing regions. On the National Commodity and Derivatives Exchange, guar seed contracts for May delivery fell by Rs 6 or 0.09 per cent to Rs 6,342 per 10 [...]
Guar gum futures gain on spot demand
New Delhi, Apr 21 (PTI) Guar gum prices on Thursday gained Rs 55 to Rs 12,377 per five quintals in futures trade as speculators increased their holdings on spot demand. On the National Commodity and Derivatives Exchange, guar gum contracts for May delivery traded higher by Rs 55 or 0.44 per cent at Rs 12,377 [...]
Crude oil futures gain on spot demand
New Delhi, Apr 21 (PTI) Crude oil prices on Thursday rose by Rs 62 to Rs 7,919 per barrel as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 62 or 0.79 per cent at Rs 7,919 per barrel in 4,683 [...]
Shriram Properties sales bookings rise 19 pc to record Rs 1,482 cr in FY22
New Delhi, Apr 21 (PTI) Realty firm Shriram Properties Ltd on Thursday reported a 19 per cent increase in its sales bookings to a record Rs 1,482 crore in the last fiscal, driven by better demand.The company achieved its highest-ever sales volume and value and record-high collections and construction for the year ended March 31, [...]
PEPPER COPRA OPENING RATE
MUM PEPPER COPRA OPENING 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 [...]
Tata Tiago crosses 4 lakh cumulative sales-mark
New Delhi, Apr 21 (PTI) Tata Motors on Thursday said its entry-level hatchback Tiago has crossed the 4 lakh cumulative sales mark.The Mumbai-based auto major launched the model in 2016 under its impact design philosophy."This is indeed a historic milestone for Tata Motors as Tiago is the first car to complete this milestone in a [...]
BULLION OPENING RATE
BULLION OPENING RATE MUMBAI, APRIL 21 (PTI) MUMBAI BULLION :- OPENING SILVER SPOT (IN RS PER KILO) : 68,355.00 STANDARD GOLD (99.5) : 52,540.00 PURE GOLD (99.9) : 52,751.00 -------------------- PTI MUM SSBSSB SSB
Faber India outlines aggressive growth plans for the India market on the occasion of its 25th anniversary celebration
· Envisions a growth of 50 % to cross 1000 crore in sales by the end of this year · Focuses on reaching more consumer homes with at least one appliance in every home National, April 21st, 2022 – On the occasion of its 25th anniversary celebration, Faber India underlined its commitment for the India [...]
Zetwerk bags Rs 126 cr order from L&T for bullet train project
New Delhi, Apr 21 (PTI) Contract manufacturing startup Zetwerk Manufacturing Businesses has bagged an order worth Rs 126.55 crore from L&T for the Mumbai-Ahmedabad (MAHSR) bullet train project, the company said on Thursday.The startup will supply 10,000 metric tonne (MT) fabricated girders to support the load-bearing capacity of the steel bridges that Larsen & Toubro [...]
SBI EXCHANGE RATE
SLUG: DIRECT EXCHANGE RATES SBI BCM – ESPL/ECO/COM MUMBAI,APRIL 21,2022 (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 75.5 77 75.44 77.16 EUR/INR 81.16 83.98 81.1 84.14 GBP/INR 97.89 101.04 [...]
Nestle Q1 profit slips 1.25% to Rs 594.71 Cr; Net sales up 9.7%
FMCG major Nestle India Ltd on Thursday reported a 1.25 per cent decline in its net profit to Rs 594.71 crore for the first quarter ended March 2022, mainly due to rising input costs. The company, which follows January-December financial year, had posted a profit of Rs 602.25 crore in the same period a year [...]
Historic India-UAE trade pact effective from May 1: Minister
Dubai, Apr 21 (PTI) The historic Comprehensive Economic Partnership Agreement between India and the UAE will come into effect on May 1, an Emirati minister said on Thursday. The agreement will provide significant benefits to Indian and UAE businesses, including enhanced market access and reduced tariffs. Minister of State for Foreign Trade Thani Al Zeyoudi [...]
Nichino India Launches Orchestra, Marks the Beginning of a New Era of BPH Control in India
Hyderabad, Telangana, India – Business Wire India Orchestra is a New Japanese Technology for effective Rice BPH management with excellent safety to beneficial insects. Rice BPH is one of the most devastating pests which can cause huge losses to the farmers, and therefore farmers are very concerned about its management. Today, majority of the products [...]
Cimpress India Certified as Great Place to Work
Mumbai, Maharashtra, India – Business Wire India Cimpress India, a shared strategic capability of Cimpress N.V, a group of ~15 e-commerce companies across the world, specializing in various domains of mass customization, has been certified as Great Place to Work 2022-23 by the Great Places to Work Institute. Great Place to Work® Institute is a [...]
Kia to drive in EV6 electric crossover in India; bookings open next month
New Delhi, Apr 21 (PTI) South Korean automaker major Kia is planning to foray into the electric vehicle segment in India with the launch of its high-end premium electric crossover EV6 later this year.The company, which currently sells models like Seltos and Sonet in the country, will open the bookings for the electric model on May [...]
RBI MONEY MARKET OPERATION
Date : Apr 21, 2022 Money Market Operations as on April 20, 2022 (Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 494,064.06 3.50 0.01-5.55 I. Call Money 8,487.61 3.52 2.20-3.95 II. Triparty Repo 377,175.90 3.57 3.50-3.75 III. Market Repo 108,375.55 3.25 0.01-3.75 [...]
Sebi signs pact with Canada’s Manitoba Securities Commission
New Delhi, Apr 21 (PTI) Indian capital markets regulator Sebi and Canada's Manitoba Securities Commission (MSC) have entered into a pact for mutual cooperation, exchange of information and technical assistance.The move comes after the Union Cabinet last week approved the signing of a memorandum of understanding (MoU) between the Securities and Exchange Board of India [...]
Newton School secures $25 mn in funding led by Steadview Capital
New Delhi, Apr 21 (PTI) Edtech startup Newton School on Thursday said it has raised USD 25 million (about Rs 191 crore) in a Series-B funding round led by investment firm Steadview Capital.Steadview Capital's portfolio includes Indian unicorns Nykaa, Polygon, Zomato and Freshworks.Existing investors Nexus Venture Partners and RTP Global also participated in the round.The [...]
FIEO pitches for setting up of a committee to evaluate import trends
New Delhi, Apr 21 (PTI) The Federation of Indian Export Organisations (FIEO) has suggested the commerce ministry to set up a committee to evaluate the country's import trends and encourage domestic production of such products to reduce the widening trade deficit.The issue was raised by FIEO Chairman A Sakthivel during a meeting, chaired by Commerce [...]
Commerce ministry to conduct outreach programmes to promote UAE, Australia trade pacts
New Delhi, Apr 21 (PTI) The commerce ministry will conduct a series of outreach programmes in various cities, including Hyderabad and Mumbai, to promote the recently signed free trade agreements with the UAE and Australia, an official said. "The main objective of these programmes is to inform Indian exporters about the export opportunities which these trade agreements [...]
Stocks In Which Mutual Funds Have Increased Their Holdings
As per data from the Association of Mutual Funds in India (AMFI), equity mutual funds attracted an all-time high net inflow of ₹ 28,463 crores in March due to continued interest by investors. Here are a few shares that were bought heavily by Mutual Funds in the last quarter as per Trendlyne data: CompaniesIncrease in [...]
Kia to drive in EV6 electric sedan in India; bookings open next month
New Delhi, Apr 21 (PTI) South Korean automaker major Kia is planning to foray into the electric vehicle segment in India with the launch of its high-end premium electric sedan EV6 later this year.The company, which currently sells models like Seltos and Sonet in the country, will open the bookings for the electric model on May [...]
Rario raises USD 120 mn from Dream Capital, Alpha Wave Global
New Delhi, Apr 21 (PTI) Digital token company Rario has raised USD 120 million (about Rs 914 crore) in a Series-A funding round led by Dream Capital, the venture capital arm of fantasy gaming platform Dream Sports, the two companies said a joint statement on Thursday.Alpha Wave Global (previously Falcon Edge Capital) also participated in [...]
OneWeb inks pact with ISRO commercial arm for satellite launches
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, a statement said on Thursday.The first launch with New Space India is expected in 2022 from the Satish [...]
Vision11 – On track at reaching 10+ million users by the end of IPL 2022
MUMBAI, India, April 21, 2022 /PRNewswire/ -- Vision11, a flagship product of Vision11 Gaming Private Limited, isn't merely a fantasy sports platform, but a pool of Fantasy sports playing experience with immense gratification. It aims to extend its user base to almost 10+ million by the end of the IPL 2022. Vision11 has collaborated with [...]
PW Introduces Its New Website Converging Crucial Learning Resources for Students From 6th – 12th and Beyond
The new website will feature an important notes section, over 20 lakh questions for JEE and NEET, 800 sample papers, and much more Noida, Uttar Pradesh, India – Business Wire India PW (PhysicsWallah), India’s most affordable and accessible ed-tech platform, has announced the launch of its brand new website with a slew of critical features [...]
Lanka lifts curfew in Rambukkana; probe begins on police firing at unarmed protesters
Colombo, Apr 21 (PTI) Sri Lankan authorities on Thursday lifted the curfew imposed 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. The curfew was lifted at 5 AM (local [...]
Plant-Based Foods Movement Gains International Momentum with the Formation of the New International Plant Based Foods Working Group to Support Growth of the Rising Sector
New Delhi, Delhi, India – Business Wire India Plant-based foods movement gains international momentum with the formation of New International Plant Based Foods Working Group (IPBFWG) to support growth of the rising sector. Seven international plant-based food associations have joined forces in a working group with a mission to support the development of the sector [...]
Flutura Accelerates Lupin to Digitally Transform their Operations using AI
Flutura to deploy Cerebra Digital Twin & Pharmacologist Workbench, a self-service AI platform to accelerate impact to Pharmaceutical outcomes BANGALORE, India, April 21, 2022 /PRNewswire/ -- Flutura Business Solutions LLC, an Industrial IoT Intelligence provider, is collaborating with global pharma major Lupin Limited (Lupin) to accelerate its digital transformation and automation journey. Lupin and Flutura [...]
IMF urges India to prioritise food security, expand transfers to vulnerable
Washington, Apr 21 (PTI) Applauding India for prioritising public investment in its annual budget, the International Monetary Fund has urged the country to prioritise food security and expand transfers to the vulnerable in the wake of the global economic crisis triggered by the war in Ukraine.Paolo Mauro, Deputy Director, Fiscal Affairs Department of the IMF [...]
Global financial leaders discuss debt crisis in US in wake of Sri Lankan problem
Washington, Apr 21 (PTI) Sri Lanka’s bitter debt crisis experience has emerged as one of the major topics of discussion among the global financial leaders who have gathered here for the annual spring meeting of the International Monetary Fund and the World Bank, according to officials. The island nation is grappling with unprecedented economic turmoil [...]
FM Sitharaman calls for proactive collective efforts towards protecting economies at G20 FMCBG meet in US
Washington, Apr 21 (PTI) Global growth momentum is dampened by prolonged inflation, supply chain disruption, volatility in energy markets and investor uncertainty, Finance Minister Nirmala Sitharaman has said as she attended the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting here. The meeting was held here on Wednesday under the presidency of Indonesia. Its [...]
Global financial leaders discuss debt crisis in US in wake of Sri Lankan problem
Washington, Apr 21 (PTI) Sri Lanka’s bitter debt crisis experience has emerged as one of the major topics of discussion among the global financial leaders who have gathered here for the annual spring meeting of the International Monetary Fund and the World Bank, according to the officials. The island nation is grappling with unprecedented economic [...]
World Bank President Malpass welcomes India’s move of selling oil from its stockpiles
Washington, Apr 21 (PTI) World Bank President David Malpass has welcomed India’s move to begin selling oil from its stockpiles, asserting that the world needs to take important steps to address the current set of crises. Speaking on the sidelines of the annual Spring meeting of the IMF and the World Bank held here, Malpass [...]
India in much better place to face Ukrainian crisis due to its successful macroeconomic management of pandemic: IMF official
Washington, Apr 21 (PTI) The successful macroeconomic management of the Covid-19 pandemic has resulted in a strong recovery of India’s economy because of which the country is in a better position to face the economic fallout of the current Ukrainian crisis, a top official from the International Monetary Fund has said. Observing that India represents [...]
India visit will deepen strategic ties, British PM Boris Johnson
London, Apr 20 (PTI) British Prime Minister Boris Johnson said on Wednesday that his long-delayed visit to India will deepen the strategic trade, defence and people-to-people ties between the two countries.Ahead of Johnson's two-day visit, Downing Street has stressed that the UK would not look to "lecture" India over its neutral stance in the United [...]
Service sector exports likely to touch USD 350 billion this fiscal: SEPC
New Delhi, Apr 20 (PTI) Services sector exports are likely to touch USD 350 billion in the current fiscal, SEPC said on Wednesday. The export target for services and certain goods sectors was discussed in a meeting with Commerce and Industry Minister Piyush Goyal here on Wednesday. Abhay Sinha, Deputy Director-General, Service Export Promotion Council [...]
Odisha Govt to try solve Nalco’s coal crisis: Minister
Bhubaneswar, Apr 20 (PTI) With the aluminium major Nalco facing acute shortage of coal, Odisha government Wednesday said it would hold a discussion with Mahanadi Coalfields Limited to resolve the dry fuel crisis. Odisha’s Steel and Mines Minister Prafulla Kumar Malliack said: “I will hold discussions with the authorities of Nalco and also the MCL [...]
JK bank gets cyber security certification
Srinagar, Apr 20 (PTI) Jammu and Kashmir Bank has received the latest certification of prestigious ISO 27001:2013 from Intertek for being compliant with the best industry standards in terms of privacy and security protocols, the bank's spokesperson said.Intertek is a reputed London-based Total Quality Assurance provider.According to the spokesperson, this information was shared by Jammu [...]
BanyanTree offloads 19.75 lakh HBL Power System shares worth Rs 13 cr
New Delhi, Apr 20 (PTI) BanyanTree Growth Capital on Wednesday has offloaded 19.75 lakh shares of HBL Power Systems for nearly Rs 13 crore through an open market transaction.According to the bulk deal data available with the National Stock Exchange (NSE), BanyanTree sold a total of 19,75,631 shares, amounting to a 0.7 per cent stake [...]
Weakening our currency detrimental to nation’s interest: Goyal
New Delhi, Apr 20 (PTI) Dismissing the contention that currency devaluation encourages exports, Commerce and Industry Minister Piyush Goyal on Wednesday said weakening of the rupee would not be in the nation's interest in the long run. He also said it is important for India to expand exports significantly and encourage investments to increase foreign [...]
Tata Elxsi Q4 net profit rises 39% to Rs 160 crore
Technology services firm Tata Elxsi on Wednesday posted a 38.9 per cent increase in net profit at Rs 160 crore in the fourth quarter ended March 2022. The company had registered a net profit of Rs 115.16 crore in the year-ago period. The income from operations grew by 31.5 per cent to Rs 681.73 crore [...]
FRL holds shareholders’ meeting for approval of deal with Reliance Retail
New Delhi, Apr 20 (PTI) Future Retail Ltd (FRL) on Wednesday held a meeting of its shareholders to consider and approve the sale of the company's retail assets to billionaire Mukesh Ambani's Reliance Retail Ventures Ltd. The meeting was chaired by Shailesh Haribhakti, FRL said in a regulatory filing. Haribhakti has been appointed by the [...]
Fino Payments Bank receives RBI nod to offer partner bank’s FD, RD services
New Delhi, Apr 20 (PTI) Fino Payments Bank on Wednesday said it has received the RBI approval for commencing referral services of fixed deposit (FD) and recurring deposit (RD) on behalf of a partner bank.In its letter dated April 19, the RBI stated that Fino Bank can carry out referral services of term deposit products [...]
FM Sitharaman meets Netherlands counterpart
Washington, Apr 20 (PTI) Finance Minister Nirmala Sitharaman on Wednesday met her Netherlands' counterpart Sigrid Kaag and exchanged views on the expected role of multilateral agencies for fast global recovery. The meeting was held on the margins of the IMF-World Bank Spring Meetings 2022 here. "Union Finance Minister Smt.@nsitharaman and Netherlands Finance Minister Mrs. @Rijksoverheid [...]
Direct selling cos committed towards ethical business norms, says IDSA
New Delhi, Apr 20 (PTI) Indian Direct Selling Association (IDSA) on Wednesday said its members are committed towards responsible and mature conduct of ethical business norms, adhering strictly to "avoidance, prevention and restriction" of business malpractices.Every financial transaction of its member company is conducted and transacted with recorded financial statements, billing and invoicing records that [...]
Gadkari meets Brazilian delegation
New Delhi, Apr 20 (PTI) Union minister Nitin Gadkari on Wednesday met with a Brazilian delegation to discuss ways for greater cooperation on the use of ethanol and cut carbon emissions. The visiting delegation was led by Brazil's Minister of Mines and Energy Bento Albuquerque. According to a tweet by Gadkari's office, the minister interacted [...]
Delhi govt forms committee for auto-rickshaw, taxi fare revision
New Delhi, Apr 20 (PTI) Amid rising fuel prices, the Delhi government on Wednesday set up a committee for fare revision of auto-rickshaws and taxis in the national capital, an official statement said. It said the Fare Revision Committee will be headed by the Special Commissioner (State Transport Authority). Other members in the panel include [...]
PM Gati Shakti crucial for India to become USD 5 tn economy: Gadkari
New Delhi, Apr 20 (PTI) The PM Gati Shakti National Master Plan (NMP), aimed at improving multi-modal connectivity and last-mile connectivity across the country, is important for achieving the prime minister's dream of making India a USD 5 trillion economy by 2024-25, Union minister Nitin Gadkari said on Wednesday.Speaking at an event to mark the [...]
TechEagle launches e-VTOL drone ‘Vertiplane X3’
Mumbai, Apr 20 (PTI) On-demand drone solutions provider TechEagle on Wednesday said it has launched the country's fastest hybrid electric vertical take-off and landing (e-VTOL) drone 'Vertiplane X3'. The X3 model of the Vertiplane series comes with vertical flying, landing and take-off capabilities. It can cruise fast and cover long distance like a passenger aeroplane and can [...]
Strengthening footprint in southern market, says U Foods India
Chennai, Apr 20 (PTI): U Foods, a Hong Kong-based fast-moving consumer goods major, was strengthening its footprint in south India after focusing on the north and western markets of the country, a top official of the company said here on Wednesday. An exclusive branding and sales team has been set up for the expansion plan [...]
Retail inflation for farm, rural workers rises to 6.09 pc, 6.33 pc in March
New Delhi, Apr 20 (PTI) Retail inflation for farm and rural labourers increased to 6.09 per cent and 6.33 per cent, respectively, mainly due to higher prices of certain food items and clothing."Point to point rate of inflation based on the CPI-AL (consumer price index-agricultural labourers) and CPI-RL (consumer price index rural labourers) stood at [...]
Top industrialists repose confidence in Bengal, commit Rs 20000 cr investment
Kolkata, Apr 20 (PTI) The country's top industrialists reposed confidence in the Mamata Banerjee government in West Bengal and various industry houses committed about Rs 20,000 crore investment in the state on the inaugural day of the sixth edition of Bengal Global Business Summit on Wednesday. The Adani Group alone committed Rs 10,000 crore investment [...]
TCG plans to develop India’s first private sector quantum computer
Kolkata, Apr 20 (PTI) TCG Group on Wednesday said it is planning to develop India's first private sector quantum computer in Kolkata which will usher in a new era in research projects.Quantum computers are machines that use the properties of quantum physics and can vastly outperform even the best supercomputers in carrying out certain tasks.TCG, [...]
IPOs: Sebi streamlines payment process via UPI
New Delhi, Apr 20 (PTI) Capital markets regulator Sebi on Wednesday streamlined the payment of processing fee through the Unified Payments Interface (UPI) system for shares applied for and allotted during an initial public offering (IPO). In addition, the regulator has devised a new reporting format for capturing the data of all ASBA (Application Supported [...]
Tata Steel stops business with Russia
New Delhi, Apr 20 (PTI) Tata Steel on Wednesday said it will stop doing business with Russia amid the ongoing conflict with Ukraine.In a statement, a company spokesperson said: "Tata Steel does not have any operations or employees in Russia. We have taken a conscious decision to stop doing business with Russia".To ensure business continuity, [...]
ICEA seeks standards for quality manufacture of tempered glass; says export opportunity worth Rs 20,300 cr awaits
New Delhi, Apr 20 (PTI) India could be looking at a massive export opportunity to the tune of 951 million pieces or Rs 20,300 crore by 2025 for Tempered Glass Screen Protectors (TG-SP), if it moves swiftly on quality manufacturing and right standards, according to a report. An organised manufacturing ecosystem for the TG-SP industry [...]
BigBasket eyes 30 pc rise in GMV to Rs 13,000 cr this fiscal, expansion of footprint
New Delhi, Apr 20 (PTI) Online grocery seller BigBasket on Wednesday said it expects gross merchandise value on its platform to grow by 30 per cent to Rs 13,000 crore in the current fiscal with push from its quick commerce business and expansion of presence across the country. BigBasket co-founder and CEO Hari Menon said [...]
PM Gati Shakti crucial for India to become USD 5 tn economy: Gadkari
New Delhi, Apr 20 (PTI) The PM Gati Shakti National Master Plan (NMP), aimed at improving multi-modal connectivity and last-mile connectivity across the country, is important for achieving the prime minister's dream of making India a USD 5 trillion economy by 2024-25, Union minister Nitin Gadkari said on Wednesday.Speaking at an event to mark the [...]
RBL finalises next MD; seeks RBI approval
New Delhi, Apr 20 (PTI) Private sector RBL Bank on Wednesday said it has finalised the name for regular MD and CEO and forwarded it to the RBI for approval.The Board at its meeting held on Wednesday accepted the recommendations of the nomination and remuneration Committee, RBL said in a regulatory filing.The bank, however, did [...]
B’desh wants to invest in WB : Bangla min
Kolkata, Apr 20 (PTI) Bangladesh Commerce Minister Tipu Munshi Wednesday praised West Bengal Chief Minister Mamata Banerjee and said that his country is keen to make investments in the state. Munshi, who was speaking at the inaugural session of Bengal Global Business Summit, 2022 here, said that Indian investors should reciprocate and invest in Bangladesh. [...]
Rupee darts up 20 paise to 76.30 against US dollar
Mumbai, Apr 20 (PTI) Snapping its four-day losing streak, the rupee appreciated by 20 paise to settle at 76.30 against the US dollar on Wednesday, tracking a weak greenback overseas and recovery in domestic equities. However, unabated foreign fund outflows capped the gains. At the interbank forex market, the domestic unit opened at 76.41 against [...]
JSW Group to develop 900 MW hydel, rolling mill projects in Bengal
Kolkata, Apr 20 (PTI) The JSW Group has expressed interest to develop a 900 MW pumped storage hydel power project and a state of the art rolling shop for steel in West Bengal, company chairman Sajjan Jindal said on Wednesday. He announced the projects while addressing the inaugural session of the Bengal Global Business Summit, [...]
Celcius raises USD 4.5 mn from Mumbai Angels, Endurance Capital, others
Mumbai, Apr 20 (PTI) SaaS-based cold chain aggregator platform Celcius has raised USD 4.5 million (about Rs 35 crore) in a bridge funding round from a clutch of investors, including Mumbai Angels and Endurance Capital, to expand its operations this year, a release said on Wednesday.This round is part of the Series A funding that [...]
Banks sanction loans worth Rs 3,628 cr under PM Yojana to over 34 lakh beneficiaries
New Delhi, Apr 20 (PTI) About Rs 3,628 crore loans have been sanctioned under the PM SVANidhi or Pradhan Mantri Street Vendor's Atmanirbhar Nidhi scheme to over 34 lakh street vendors since its launch, a senior government official said on Wednesday.Speaking at an event organised on the occasion of Civil Services Day, Department of Financial [...]
India should aspire to become high-income country by 2047: NITI Aayog CEO
New Delhi, Apr 20 (PTI) India should aspire to become a high-income country by 2047 and this would need sustained economic growth year after year, NITI Aayog CEO Amitabh Kant said on Wednesday. Kant further said that India will grow if the country can use power of its private sector. "Our per capita income is [...]
No more man-days lost in Bengal due to strikes: Mamata tells industry tycoons
Kolkata, Apr 20 (PTI) The state, which was at one time known as the strike capital of the country, has brought down man-days lost to industrial action to zero from 75 lakh annually, said West Bengal Chief Minister Mamata Banerjee on Wednesday, as she wooed investors from across the globe at a big-ticket business summit [...]
Over 1.5 lakh active job offers across various sectors on NCS portal: Govt
New Delhi, Apr 20 (PTI) The National Career Service (NCS) portal has over 1.5 lakh active vacancies in sectors like IT, retail and construction works, the Ministry of Labour and Employment said on Wednesday. More than 26,000 e-Shram beneficiaries have registered on the NCS so far, and have started benefiting from the linkage of the [...]
RK Singh meets Finnish minister Mika Lintila
New Delhi, Apr 20 (PTI) Union Power Minister RK Singh on Wednesday met Finnish Minister of Economic Affairs Mika Lintila.Singh met the Finnish Minister here today, a statement by the ministry of new and renewable energy stated.According to the statement, Singh highlighted India’s achievements in the RE (renewable energy) sector and conveyed that India is [...]
Duty drawback, GST refunds of Rs 1.75 lakh crore issued to exporters in FY22: CBIC chief
New Delhi, Apr 20 (PTI) The CBIC has issued duty drawback and GST refunds of Rs 1.75 lakh crore to exporters in the last fiscal ended March 2022, a senior official said on Wednesday.Central Board of Indirect Taxes and Customs (CBIC) Chairman Vivek Johri said the department is working on a scheme to facilitate gems [...]
No more man-days lost in Bengal due to strikes: Mamata tells industry tycoons
Kolkata, Apr 20 (PTI) The state, which was at one time known as the strike capital of the country, has brought down man-days lost to industrial action to zero from 75 lakh annually, said West Bengal Chief Minister Mamata Banerjee on Wednesday, as she wooed investors from across the globe at a big-ticket business summit [...]
Cement prices may go up by Rs 25-50 per bag in April: Crisil
New Delhi, Apr 20 (PTI) Cement prices in the domestic market may go up by Rs 25-50 per bag this month as manufacturers have started to pass on the rising costs due to the Russia-Ukraine conflict, Crisil said in a report."After rising to Rs 390 per bag over the past 12 months, domestic cement prices [...]
ITC to commence 20th manufacturing facility in Bengal: Puri
Kolkata, Apr 20 (PTI) Diversified conglomerate ITC Ltd on Wednesday said the company will commence its 20th manufacturing unit in West Bengal and is in the process of commissioning a green building in Rajarhat area, which will house its information technology arm ITC Infotech.Speaking at the inaugural session of Bengal Global Business Summit (BGBS), 2022, [...]
Govt amends rules governing Nidhi companies
New Delhi, Apr 20 (PTI) To protect the interests of the public and prevent possible illegal fundraising activities, the government has amended the rules governing Nidhi companies whereby its prior declaration will be compulsory for a certain class of such companies for starting their business.The move by the corporate affairs ministry also comes against the [...]
Casa Decor: Empowering Indian Artisans While Serving Global Customers
New Delhi, Delhi, India (NewsVoir) Casa Decor, a reputed Indian home decor brand with a huge consumer base across the globe, is empowering the artisans of the country while touching lives as well as hearts, one decor item at a time. With their penchant for identifying and nurturing talent, the company has created numerous employment [...]
UBL witnesses high-single-digit volume growth in Jan-Mar quarter
New Delhi, Apr 20 (PTI) Leading beer maker United Breweries Ltd (UBL) witnessed a "high-single-digit" volume growth in the domestic market during January-March 2022 quarter, according to its largest stakeholder Heineken.Moreover, the consolidation of UBL in India has "positively impacted net revenue" by Euro 200 million, Dutch brewing major Heineken said on Wednesday in its [...]
Vayana Network raises Rs 114 cr from IFC, PayU
Mumbai, Apr 20 (PTI) Trade finance-focused Vayana Network has received a Rs 114-crore investment from International Finance Corporation (IFC), a member of the World Bank Group, and payments company PayU. The investment is part of the Series C funding round, which has already seen Marshall Wace, March Capital, Chiratae Ventures, CDC group, Jungle Ventures, and [...]
Campus Activewear IPO to open on Apr 26
New Delhi, Apr 20 (PTI) The initial share-sale of sports and athleisure footwear company Campus Activewear will open on April 26. The three-day Initial Public Offering (IPO) will conclude on April 28. The bidding for anchor investors will open on April 25, according to the company's draft red herring prospectus filed with markets regulator Sebi. [...]
Supreme Court on Company Law – Compendium of Cases (1950-2021) – Another Landmark Publication by Aseem Chawla
New Delhi, Delhi, India (NewsVoir) Aseem Chawla, a renowned practicing tax & business lawyer, has launched his new book, "Supreme Court on Company Law" (Compendium of Cases) (1950-2021), published jointly by Bloomsbury and Corporate Law Adviser. The Compendium brings together all the significant judgments rendered by the Supreme Court of India on matters arising under [...]
Financepeer raises $ 31 mn in funding led by QED Investors, Aavishkaar
Mumbai, Apr 20 (PTI) Edu-fintech startup Financepeer has mopped up USD 31 million (about Rs 235 crore) in Series-B funding led by US-based venture capital fund QED Investors, domestic investor Aavishkaar Capital and Ardent Ventures.This is the second funding for the city-based startup, which is the industry leader with over 40 per cent externally-funded education [...]
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