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Power stock hits 5% upper circuit after reporting 997% YoY increase in net profits
During Thursday’s trading session, the shares of this micro-cap company hit a 5 percent upper circuit at Rs. 380.7 on NSE, after reporting Q2 FY25 results with a rise in net profit by nearly 997 percent YoY. With a market cap of Rs. 469.8 crores, the shares of S&S Power Switchgear Limited opened in the [...]
Stock jumps 3% after after company’s net profit increases by 210% QoQ; Announces 1:5 stock split
Shares of a company engaged in the manufacturing engineering goods surged around 3.5 percent on BSE to Rs. 1,412 on Thursday, after the company’s Board approved a 1:5 stock split and Q2 FY25 results with a rise in PAT by nearly 210 percent QoQ and 45 percent YoY. With a market cap of Rs. 546.4 [...]
FMCG stock hits 5% upper circuit after reporting 360% QoQ increase in net profits
A textile stock involved in tea cultivation and LED lights manufacturing hit a 5 percent upper circuit at Rs.1,058.40 per share, following a remarkable 360 percent quarterly increase in net profits and substantial revenue growth. Price Movement The Grob Tea Company Ltd’s share price surged to a 5 percent upper circuit at Rs.1,058.40 per share [...]
Chemical stock jumps 4% after company announces ₹5,000 Cr capex for expansions
The shares of the leading chemical companies gained up to 4 percent after the company’s subsidiary undertook a project for manufacturing Polycarbonate Resins ('PC') with an investment of around Rs 5,000 crores. With a market capitalization of Rs 35,378.31 crore, the shares of Deepak Nitrite Ltd were trading at Rs 2,598.70 per share, increasing around [...]
Green energy stock jumps 5% after its net profit increases by 750% YoY
Green Energy Stock engaged in providing a wide range of renewable energy solutions such as floating solar panels, solar rooftops, hydrogen electrolyzers, and many more jumped upto 5 percent in the day’s trade following 750 percent jump in Net Profits. Price Action With a market capitalization of Rs. 4,775 Crores, the shares of Oriana Power [...]
Textile stock hits 5% upper circuit after company’s net profit increases by 342% YoY
Textile stock engaged in manufacturing and exporting white terry towels hit a 5 percent upper circuit to Rs.49.62 per share following an increase in net profits of over 342 percent year-on-year and significant revenue growth as well. Price Movement The share price of Ashnoor Textile Mills Ltd hit a 5 percent upper circuit to Rs.49.62 [...]
Navratna stock jumps 5% after reporting 415% YoY increase in net profits
The shares of leading aluminum manufacturers gained up to 5 percent after the company’s net profit and revenue magnified by 415 percent and 31 percent YoY, respectively in Q2FY25. With a market capitalization of Rs 41,085.45 crore, the shares of National Aluminium Company Ltd were trading at Rs 225 per share, increasing around 3 percent [...]
Vijay Kedia stocks with high piotroski score in which FIIs have increased their stake in Q2
Vijay Kedia is a well-known Indian stock market investor recognized for his long-term investment strategies and successful stock picks. He uses the SMILE approach in his portfolio investments – ‘small in size, medium in experience, large in aspiration, and extra-large in market potential’ As per the latest corporate shareholdings filed, Vijay Kishanlal Kedia publicly holds [...]
4 Power stocks to buy now for an upside of 40%; Do you own any?
India's power sector is a critical component of its economy, with an installed capacity of approximately 442 GW as of March 2024. The country ranks as the third-largest producer of electricity globally, generating 1,949 TWh in FY 2023-24, driven mainly by coal (around 55%) and renewable sources (about 21%) Here are the power stocks to [...]
Drone stock falls 19% after company’s net profit decreases by 60% YoY
The shares of the drone manufacturer fell up to 19 percent after the company’s net profit and revenue dropped by 60 percent and 29 percent, respectively in H1FY25. With a market capitalization of Rs 273.47 crore, the shares of Droneacharya Aerial Innovations Ltd closed at Rs 114.00 per share, decreased around 16.15 percent as compared [...]
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Top Editor’s Pick
Why Mutual Funds Remain a Popular Choice in 2025
You’re not alone if you’ve been thinking more seriously about where your money goes. With daily expenses rising and long-term goals in sight, it’s only natural to look for ways to grow your savings without constant monitoring. That’s where mutual funds come into the picture. They’ve quietly remained a favourite for many over the years. [...]
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 [...]
Latest Market News
NEWSALERT
Wholesale price-based inflation rises to 14.55 per cent in March, against 13.11 per cent in February: Govt data. PTI JD DRR
MUM PEPPER COPRA OPENING RATES
MUMBAI, APR 18 (PTI) Mumbai :- PEPPER COPRA RATES :- BLACK PEPPER READY 560 / 620 GINGER BLEACHED -- GINGER UNBLEACHED 155 COPRA OFFICE ALAPUZHA 95000 COPRA OFFICE KOZIZODE 93000 COPRA RAJAPUR MUMBAI 18500 COPRA EDIBLE MUMBAI 13500 COCHIN COCONUT OIL ---- COCONUT OIL MUMBAI 1720 T.P ------------ PTI MUM SVC SVC
SBI-FOREX RATES
MUMBAI, APR 18 (PTI) FOLLOWING ARE THE DIRECT RATES OF EXCHANGE (DPE) AS ANNOUNCED BY THE STATE BANK OF INDIA HERE TODAY. ( ALL RATES IN RUPEES PER UNIT ).CURRENCY CODE TTBUY TTSEL BILLBUY TTSEL USD/INR 75.65 77.15 75.59 77.31 EUR/INR 81.10 83.87 81.03 84.04 GBP/INR 98.00 101.16 97.93 101.35 JPY/INR 59.40 61.31 59.35 61.43 [...]
Maruti hikes prices to offset impact of rising input costs
New Delhi, Apr 18 (PTI) The country's largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased prices of its entire model range with immediate effect in order to partially offset the impact of rise in input costs. The company, which sells a range of vehicles from Alto to S-Cross, said the weighted [...]
China’s GDP grew at 4.8% in Q1 amid COVID-19 surge
Beijing, Apr 18 (PTI) China's economy grew at 4.8 per cent in the first quarter, falling below the 5.5 per cent target set for this year by the ruling Communist Party, amidst a surge in COVID-19 cases which prompted top business hubs like Shanghai to enforce prolonged lockdowns.The country's gross domestic product grew 4.8 per [...]
Small cap multibagger leather stock rises 33% in a month and 349% in a year
Shares of Mirza International Limited gained 11.50% and reached a fresh 52-week high of ₹ 221.15 apiece. In the past month, its share price has increased by 26.78%. This means that if an investor would have invested ₹1,00,000 in the share a week ago, their holdings would have been worth ₹ 1,26,780. In the past [...]
JSPL’s steel production rises in March quarter
New Delhi, Apr 18 (PTI) Jindal Steel and Power Limited (JSPL) on Monday posted a 2 per cent rise in steel production at 2.11 million tonnes in the quarter ended March 2022. Its sales also registered a growth of 8 per cent at 2.07 Million Tonnes (MT) in the January-March period, according to a statement. [...]
IndusInd Bank bags global ‘Celent Model Bank’ Award for its Enterprise Payments Hub (EPH) initiative
MUMBAI, India, April 18, 2022 /PRNewswire/ -- IndusInd Bank today announced that it has been awarded the global 'Celent Model Bank' award under the category – 'Payments System Transformation' for building a best-in-class Enterprise Payments Hub (EPH). The award acknowledges the Bank's outstanding journey in creating a cloud-based central payments hub that is capable of [...]
RBI-MONEY MARKET OPERATIONS
MUMBAI, April 18 (PTI) Money Market Operations as on April 13, 2022 (Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume Weighted (One Leg) Average Rate RANGE A. Overnight Segment 5,229.21 3.59 2.90-3.90 I. Call Money 788.11 3.37 2.90-3.80 II. Triparty Repo 4,441.10 3.63 3.35-3.90 III. Market Repo 0.00 - - IV. Repo [...]
LendIt Fintech hosts India – The World’s ‘Fintech Lab’ session
Discussions held on the Indian Fintech market, its potential, regulatory environment and talent availability among others MUMBAI, India, April 18, 2022 /PRNewswire/ -- India has been at the epicentre of a global 'lab testing' environment which has ushered in a new wave of technological advancement leading to the creation of several innovative business models, products [...]
Bon Fiction chocolates, the Indian tree to bar chocolates that are crafted to seamlessly blend Indian agro heritage with international expertise
The founders of Bon Fiction, Akhil and Prathina Grandhi, have embarked on an arduous journey to bring to life 14 of the most magnificent chocolates made with cacao grown on Indian soil. RAJAHMUNDRY, India, April 18, 2022 /PRNewswire/ -- The spirited and driven couple behind the brand is the key ingredient that makes Bon Fiction [...]
Passenger vehicle exports from India rise 43 pc in FY22; Maruti Suzuki leads segment
New Delhi, Apr 18 (PTI) Passenger vehicle exports from India increased 43 per cent in FY22, with Maruti Suzuki India leading the segment with dispatches of over 2.3 lakh units, as per the latest data by industry body SIAM. The total passenger vehicle (PV) exports stood at 5,77,875 units in 2021-22 fiscal, as compared to [...]
Pakistan grants two months extension to India for transportation of wheat, medicines to Afghanistan
Islamabad, Apr 17 (PTI) Pakistan on Sunday extended for two months the period for India to transport 50,000 metric tonnes of wheat and life-saving medicines as humanitarian assistance to war-torn Afghanistan via Attari-Wagah border crossing.Foreign Office said that the time period granted for transportation of the humanitarian assistance expired on March 21 and the Government [...]
CII, sports associations condole death of The Sanmar Group Chairman N Sankar
Chennai, Apr 17 (PTI): Confederation of Indian Industry (southern region) on Sunday said the country has lost one of the doyens of the business with the death of The Sanmar Group Chairman N Sankar. Chairperson of the CII-southern region Suchitra Ella said the group, with its strong presence in diverse industrial sectors, has contributed to [...]
Nepal considering two-day govt holiday to curtail fuel consumption
Kathmandu, Apr 17 (PTI) The Nepal government is considering to declare a two-day holiday in public sector offices this month to reduce fuel consumption, as the country battles a foreign exchange crisis and the price of petroleum products sky-rockets. The Central Bank of Nepal and Nepal Oil Corporation advised the government to give two days [...]
Hong Kong bans AI flights till April 24 after 3 passengers found COVID-infected
New Delhi, Apr 17 (PTI) Hong Kong has banned Air India services till April 24 after three passengers on one of its flights tested positive for COVID-19 post arrival on Saturday, a senior government official has said.| Passengers from India can arrive in Hong Kong only if they have a COVID-19 negative certificate from a [...]
Coal India all set to launch own e-auction platform
Kolkata, Apr 17 (PTI) Coal India Ltd is set to launch its own e-auction platform, and the mining major has informed new and existing bidders to register on the portal, a top company official said.At present, the e-auction portal is managed by mjunction and state-owned MSTC Ltd.E-auction sales account for around 120 million tonnes annually [...]
Sanmar Group chairman N Sankar passes away
Chennai, Apr 17 (PTI) Chairman of The Sanmar Group N Sankar died on Sunday following a brief illness, family sources said. He was 77. He is survived by wife, a son and daughter. Son Vijay Sankar is the deputy chairman while N Kumar, brother of Sankar, is the vice-chairman. Sankar had held various responsibilities in [...]
Will respond strongly to frauds: Sequoia Capital on controversy-hit BharatPe
New Delhi, Apr 17 (PTI) Breaking its silence over controversy at fintech firm BharatPe, Sequoia Capital India on Sunday said it has zero tolerance towards proven wrongdoing and will continue to respond strongly to wilful misconduct or fraud so that a few errant founders do not create big setbacks for startup ecosystem. Sequoia, which is [...]
Products of 30,000 small brands cater to 80% of population: Report
New Delhi, Apr 17 (PTI) Household products of over 30,000 brands operating at small and medium scale cater to a majority of the country's population, while only 20 per cent use such items sold by big corporate houses, a survey said. Products of Fast Moving Consumers Goods (FMCG), consumer durables and cosmetics from over 30,000 [...]
NEWSALERT
Will continue to respond strongly to wilful misconduct, fraud; have zero tolerance towards proven wrongdoing: says Sequoia Capital, largest investor in BharatPe. PTI ANZ MR MR
Godavari Biorefineries to launch over Rs 700 cr IPO at right time, watching geo-political situation
New Delhi, Apr 17 (PTI) Ethanol and bio-based chemicals maker Godavari Biorefineries Ltd on Sunday said it is watching the geo-political situation and will make its share market debut "at the right time". Godavari Biorefineries Ltd CEO and Managing Director Samir Somaiya told PTI that the company has already received the market regulator Sebi's final [...]
ONGC uses new drilling technology in Tripura
Agartala, Apr 17(PTI) ONGC has successfully drilled three gas wells in Tripura by using new technology, a senior company official said on Sunday. The new technology - Managed Pressure Drilling (MPD) proved to be beneficial in the state because conventional drilling could not be used in these geographical locations, said ONGC Tripura Asset Manager, Tarun [...]
CNG, PNG prices spike; oil ministry says awaiting updated data to make gas allocation
New Delhi, Apr 17 (PTI) The oil ministry has not made any fresh allocation of natural gas from domestic fields to the city gas sector, sending CNG and piped cooking gas prices to record highs but the ministry insisted that allocations have not been stopped and providing more for the sector would lead to cut [...]
Health insurers take 20-46 days to settle patients’ claims: Report
New Delhi, Apr 17 (PTI) Settlement of expense reimbursement claims under health insurance policies on an average takes about 20 to 46 days from the date of intimation to the insurer, said a study conducted by insurtech platform SecureNow. The company said the industry data tabulated by it also shows that patients are quite prompt [...]
RBI looking for at least 50,000 sq ft office space in BKC, South Mumbai
Mumbai, Apr 17 (PTI) The Reserve Bank of India (RBI) is planning to take on lease at least 50,000 square feet of office space in Bandra Kurla Complex (BKC) and South Mumbai. According to an Expression of Interest (EoI) floated by the RBI, the acquisition of office premises is proposed on a long-term lease basis [...]
Success in film industry is akin to how long you can hold your breath underwater: Sonu Sood
Mumbai, Apr 17 (PTI) Survival in the film industry comes with the awareness that one would go through a series of rejections and "crushing wait" to finally taste success, says actor Sonu Sood.The Punjab-born actor made his Bollywood debut in 2002 and got noticed with films like "Yuva", "Aashiq Banaya Aapne" and "Jodhaa Akbar". Sood's [...]
Weekly Market Recap: Q4 Results, Inflation at 17 months high, SEBI fines NSE & BSE, FPI turn net seller and more!
The 30 share index (Sensex) and the 50 share index (Nifty) ended lower for the third consecutive session on Wednesday as we advanced towards the long weekend break. At the closing bell on Wednesday’s session, the BSE Sensex was down 237.44 points or 0.41% at 58338.93 points, while the NSE Nifty was down54.60 points or [...]
Multiple EV models planned, will target No 1 position: New Maruti Suzuki MD & CEO
The country's largest carmaker Maruti Suzuki will launch multiple electric vehicles models in India in its bid to catch up with competitors and become a leader in the segment, despite not being present there at present, according to the company's new Managing Director and CEO Hisashi Takeuchi. The company, which plans to launch its first [...]
UPI to stay on top; BNPL, digi currency to drive digital payments growth in next 5 years: Report
New Delhi, Apr 17 (PTI) Retail online transaction platform UPI will likely continue to dominate the digital payments space in the country even as newer methods such as BNPL and digital currency are expected to define the future of payments, a study has said. Unified Payments Interface (UPI), Buy Now Pay Later (BNPL), Central Bank [...]
India’s chip manufacturing push timely amid global supply disruptions: HCL co-founder
New Delhi, Apr 17 (PTI) India's manufacturing push, backed by favourable policies, is timely and positions the country strongly to grab a massive opportunity in the electronics hardware space amid COVID-induced supply chain disruptions and global trust deficit around China, according to HCL co-founder Ajai Chowdhry. Chowdhry -- who is part of the IT ministry-constituted [...]
Mutual funds add over 3 Cr folios in FY22 on sharp rally in Equity market, Digitisation
Increasing awareness about mutual funds, ease of transactions through digitisation and sharp surge in equity markets have aided asset management companies to add a staggering 3.17 crore investor accounts in 2021-22, with experts saying the trend is likely to continue this fiscal as well. This was a significant rise from 2020-21 when 81 lakh accounts [...]
Govt amends FEMA rules to allow 20% FDI in LIC
The government has amended rules of the Foreign Exchange Management Act (FEMA), paving the way for up to 20 per cent foreign direct investment in the insurance behemoth LIC. The government is planning to dilute its stake in LIC through the the Initial Public Offering (IPO). LIC in February had filed the Draft Red Herring [...]
Campus shoes IPO expected to hit in May, company to expand distribution footprint
Sports and athleisure footwear company Campus Activewear plans to expand its distribution network and deepen its footprints in western and southern regions, a top official of the company said. According to market sources, the company is planning to get listed on stock exchanges in May 2022. Besides, the homegrown footwear maker, which is backed by [...]
Rising input costs, supply chain woes headwinds for Indian auto sector in 2022: MG Motor India president
New Delhi, Apr 17 (PTI) Increase in raw material costs and semiconductor prices, coupled with supply chain disruptions due to the war in Ukraine, could become headwinds for the Indian automobile industry going forward this year thereby affecting growth, according to MG Motor India President and Managing Director Rajeev Chaba. The domestic auto industry was [...]
UK PM Johnson to arrive in Ahmedabad on April 21, hold ‘in-depth’ talks with Modi
London, Apr 17 (PTI) Boris Johnson will become the first British Prime Minister to visit Gujarat when he lands in Ahmedabad this week for a two-day visit to India for “in-depth talks” with his Indian counterpart Narendra Modi, according to Downing Street.Johnson’s first visit to India as UK Prime Minister will begin on April 21 [...]
Oil Min freezes gas allocation, prices of CNG, PNG spike
New Delhi, Apr 17 (PTI) The Oil Ministry has stopped making fresh allocation of natural gas from domestic fields to the city gas sector, threatening the viability of Rs 2 lakh crore investment planned in the sector besides leading to a hike in CNG and piped cooking gas prices to record levels, sources said. Despite [...]
Return to office, large scale hiring to drive office space demand in 2022: Tata Realty
New Delhi, Apr 17 (PTI) Bullish on the growth potential of India's office market, TATA Realty and Infrastructure MD and CEO Sanjay Dutt said the total leasing of office space across major seven cities is expected to rise to more than 30 million square feet in 2022 compared to 26 million square feet in 2021 [...]
96 CPSEs incorporated since 2014
New Delhi, Apr 17 (PTI) The Union government has incorporated as many as 96 CPSEs since 2014, with the maximum headquartered in Delhi, as per official data. As many as 69 of these Central Public Sector Enterprises (CPSEs) have their registered offices in Delhi. The list includes Air India Assets Holding Ltd (AIAHL), set up [...]
Earnings, global cues to dictate market trend this week: Analysts
New Delhi, Apr 17 (PTI) Quarterly earnings and global trends would be the major driving factors for the equity markets this week as trading resumes after a long holiday, said analysts. The Russia-Ukraine war and the COVID-19 situation in China would be monitored for further cues, they added. "As earnings season gathers pace, D-Street will [...]
Developing countries are being left behind in the AI race – and that’s a problem for all of us
Cottingham (UK), Apr 17 (The Conversation) Artificial Intelligence (AI) is much more than just a buzzword nowadays. It powers facial recognition in smartphones and computers, translation between foreign languages, systems which filter spam emails and identify toxic content on social media, and can even detect cancerous tumours. These examples, along with countless other existing and [...]
Oil Min freezes gas allocation, prices of CNG, PNG spike
New Delhi, Apr 17 (PTI) The Oil Ministry has stopped making fresh allocation of natural gas from domestic fields to the city gas sector, threatening the viability of Rs 2 lakh crore investment planned in the sector besides leading to a hike in CNG and piped cooking gas prices to record levels, sources said. Despite [...]
UK PM Johnson to arrive in Ahmedabad on April 21, hold ‘in-depth’ talks with Modi
London, Apr 17 (PTI) Boris Johnson will become the first British Prime Minister to visit Gujarat when he lands in Ahmedabad next week for a two-day visit to India for “in-depth talks” with his Indian counterpart Narendra Modi, according to Downing Street. Johnson’s first visit to India as UK Prime Minister will begin on April [...]
Sri Lankan Army vows to safeguard Constitution; not to interfere with peaceful anti-govt protests
Colombo, Apr 16 (PTI) In an unusual move, the Sri Lankan Army on Saturday vowed to uphold the Constitution and not to interfere with the ongoing anti-government protests across the island nation against the unprecedented economic crisis that has led to acute food shortages, soaring prices and power cuts. Referring to the social media speculation [...]
Okinawa recalls 3,215 electric scooter units
New Delhi, Apr 16 (PTI) Electric scooter maker Okinawa Autotech on Saturday said it is recalling 3,215 units of its Praise Pro scooters to check and fix any issue related to batteries with immediate effect. The initiative is part of the company's comprehensive power pack health check-up camps, the company said in a statement. Okinawa [...]
Goyal asks plastics industry to cut imports, become self-reliant
Mumbai, Apr 16 (PTI) Union minister Piyush Goyal on Saturday exhorted the plastics industry to reduce import dependence and aspire to become a USD 100 billion industry in the next 4-5 years. The minister noted that there is a significant growth potential for the Indian plastic industry to become the world’s premium supply hub. "The [...]
Tech, engineering & manufacturing companies lead office space in Chennai: report
Chennai, Apr 16 (PTI) Technology firms and those companies engaged in engineering and manufacturing sectors were the majority of the entities to pick up office space in the city, according to a report released by real estate consulting firm CBRE South Asia on Saturday. As per the latest office report 'CBRE India Office Figures Q1 [...]
HDFC Bank to raise Rs 50,000 cr via bonds; re-appoints Renu Karnad as director
New Delhi, Apr 16 (PTI) HDFC Bank on Saturday said it will raise up to Rs 50,000 crore in the next one year by issuing bonds aimed at financing infrastructure and affordable housing loan requirements of the customers. The decision was taken at the meeting of the board of directors. The board has approved the [...]
Mahindra Holidays & Resorts to raise stake in Rocksport
New Delhi, Apr 16 (PTI) Mahindra Holidays & Resorts India Ltd on Saturday said it will increase its holding in Rocksport Pvt Ltd, a firm engaged in soft adventure activities and learning programmes, to 23.42 per cent with the acquisition of a tad over 4.88 lakh equity shares for Rs 12 crore. The company has [...]
M&M to sell entire stake in Mahindra Sanyo Special Steel for Rs 212 cr
Mahindra & Mahindra (M&M) on Saturday said it has agreed to sell over 34.75 lakh shares, constituting 22.81 per cent of the paid-up capital, in Mahindra Sanyo Special Steel Pvt Ltd (MSSSPL), to Japan-based Sanyo Special Steel Co Ltd in a Rs 212 crore deal. Following the sale, the company's holding in MSSSPL would become [...]
NFR records 18% rise in freight unloading in 2021-22
Guwahati, Apr 16 (PTI) The Northeast Frontier Railway (NFR) has registered an increase of 18 per cent in freight unloading in the last financial year, an official statement said on Saturday. “During the recently completed financial year from April, 2021 to March, 2022, N. F. Railway carried 13,757 rakes of freight trains as against 11,659 [...]
ICICI Prudential Life Q4 result: Net profit jumps over 2-fold to Rs 185 cr
ICICI Prudential Life Insurance on Saturday posted over a two-fold jump in its net profit to Rs 185 crore for the January-March quarter on account of robust growth in new business. The company had posted a profit after tax of Rs 64 crore for January-March FY2021, ICICI Prudential Life Insurance said in a regulatory filing. [...]
Skill India International Centre to come up in Odisha
Bhubaneswar, Apr 16 (PTI) India’s first Skill India International Centre will be set up in Bhubaneswar for training youths with an aim to enhance overseas opportunities for the skilled workforce. A memorandum of understanding was exchanged between the National Skill Development Corporation (NSDC) and the Skill Development Institute (SDI) on Saturday in presence of Union [...]
Govt must revisit mineral policies to accelerate GDP: Book
New Delhi, Apr 16 (PTI) There is an urgent need for mineral sector reforms to accelerate GDP and boost exports, says a book which also suggests that all existing and future "captive mines" may be converted to "merchant mines" enabling to increase supply of minerals and coal to small or medium-sized businesses.In "Jan Andolan: For [...]
April 2022 biz trending higher than April 2019: Oriental Hotels
Chennai, Apr 16 (PTI) Oriental Hotels Ltd, an associate company of the Indian Hotels Company Ltd and a part of the Taj Group, has recorded profitability for the second consecutive quarter and the business looks positive with April 2022 trending higher than the same period in 2019, a top company official said on Saturday. Oriental [...]
Software exports grow to Rs 1,761 cr from 4 Indore IT SEZs
Indore, Apr 16 (PTI) Software export from four IT special economic zones, including those of TCS and Infosys, here climbed to Rs 1,761.19 crore in the last fiscal, registering around 52 per cent growth following a surge in demand in IT services. The four IT SEZs accounted for Rs 1,161.40 crore of exports in 2020-21, [...]
NEWSALERT
HDFC Bank standalone net profit jumps 23 pc to Rs 10,055 cr in quarter ended March 2022: Co filing. PTI KPM ABM ABM
Colombo Stock Exchange to remain shut next week as Lanka struggles to combat forex crisis
Colombo, Apr 16 (PTI) The Colombo Stock Exchange will remain temporarily closed for a week from Monday to provide investors an opportunity to have "more clarity and understanding" of the current economic conditions in crisis-hit Sri Lanka that would help them "to make informed investment decisions," it was announced on Saturday. "The stock market will [...]
A 32-Year-old man with Kidney Failure Undergoes Safe and Successful Complex Heart Surgery at Medway Heart Institute, Chennai
Chennai, Tamil Nadu, India (NewsVoir) A team of doctors from Medway Heart Institute, a tertiary cardiac centre at Medway Hospitals, a premier and integrated multi-specialty group of hospitals located in Kodambakkam, Chennai, performed an extremely challenging Aortic Dissection surgery on a 32-year-old man with kidney failure. Patient history and line of treatment The patient, Rajkumar [...]
Dolly Khanna portfolio: Ace investor takes entry in this multibagger stock
As per the latest shareholding pattern of Nahar Spinning Mills, seasoned investor Anil Kumar Goel has increased his stake in the multibagger. Ace investor Dolly Khanna’s name was also among the key shareholders as of March 31, 2022. Dolly Khanna held 3,81,973 shares or a 1.06% stake in the company as of March 31, 2022. [...]
Merck Foundation Marks World Art Day by Raising Awareness About Social and Health Issues Through Their Best Film, Song and Fashion Awards 2022
Mumbai, Maharashtra, India&Accra, Ghana – Business Wire India • Merck Foundation is launching a TV show “Our Africa by Merck Foundation” to feature the first ‘Fashion and Art community with Purpose’ in Africa, established by them to break the silence about social and health issues. • Merck Foundation emphasizes the importance of Art community as [...]
Elon Musk’s bid spotlights Twitter’s unique role in public discourse – and what changes might be in store
East Lansing (US), Apr 16 (The Conversation) Twitter has been in the news a lot lately, albeit for the wrong reasons. Its stock growth has languished and the platform itself has largely remained the same since its founding in 2006. On April 14, 2022, Elon Musk, the world’s richest person, made an offer to buy [...]
Nitish Kumar inaugurates Rs 550cr PepsiCo plant in Begusarai
Begusarai, Apr 15 (PTI) Chief Minister Nitish Kumar on Friday inaugurated a bottling unit of food and beverages major PepsiCo in Bihar's Begusarai district.The plant, set up at a cost of Rs 550 crore in Asurari area by PepsiCo franchisee holder Varun Beverages Ltd (VBL), created direct employment opportunities for over 500 people, officials said."This [...]
Central teams survey 17 Punjab districts to assess shrivelled wheat grain
Chandigarh, Apr 15 (PTI) The central teams formed to assess shrivelled wheat grain due to the early onset of heat wave have surveyed 17 Punjab districts till Friday, and will cover the remaining six district on Saturday. The central government had on Tuesday formed five teams to assess the crop losses before setting the guidelines [...]
FRL rejects Amazon’s opposition over shareholders’ meeting on sale of assets; says in compliance with NCLT order
New Delhi, Apr 15 (PTI) Kishore Biyani-led Future Retail Ltd (FRL) on Friday said the meetings of its shareholders and creditors next week to consider and approve the sale of its retail assets to billionaire Mukesh Ambani's Reliance Retail are in compliance with the directions issued by the NCLT. Earlier this week, e-commerce major Amazon, [...]
Egypt approves India as wheat supplier: Goyal
New Delhi, Apr 15 (PTI) Commerce and Industry Minister Piyush Goyal on Friday said Egypt, which is one of the largest importers of wheat from Ukraine and Russia, has approved India as a wheat supplier. There is a sharp decline in availability of wheat in the global markets due to the ongoing conflict between Russia [...]
IndiGo appoints Vikram Mehta, ex-IAF Chief B S Dhanoa as independent non-executive directors
New Delhi, Apr 15 (PTI) IndiGo on Friday appointed former Shell India chairman Vikram Singh Mehta and former Indian Air Force (IAF) chief B S Dhanoa as independent non-executive directors. Their appointment is "subject to receipt of security clearance from the Ministry of Civil Aviation (MoCA) and approval of the members of the company," IndiGo [...]
Egypt approves India as wheat supplier: Goyal
New Delhi, Apr 15 (PTI) Commerce and Industry Minister Piyush Goyal on Friday said Egypt, which is one of the largest importers of wheat from Ukraine and Russia, has approved India as a wheat supplier. There is a sharp decline in availability of wheat in the global markets due to the ongoing conflict between Russia [...]
UltraTech invests USD 101.1 mn in UAE-based RAKWCT, acquires 29.39% share
New Delhi, Apr 15 (PTI) The country's leading cement maker UltraTech Cement on Friday announced investing USD 101.10 million (around Rs 839.52 crore) for a 29.39 per cent equity stake in the UAE-based RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT). This is a "strategic investment" for the company, Aditya Birla Group [...]
Govt plans to mandate telecom infra installation inside housing projects
New Delhi, Apr 15 (PTI) The government is planning to mandate installation of telecom infrastructure inside housing projects and premises by making changes in the national building code and model building bye-laws, according to draft Right of Way guidelines issued by the Department of Telecom. The Department of Telecom (DoT) has come up with the [...]
Crisis-hit Lanka seeks India’s help for cooking gas supply
Colombo, Apr 15 (PTI) Sri Lanka has started a process to import cooking gas through a credit line arrangement with India, the chair of the country’s state-run gas company Litro Gas said on Friday as he resigned from his post alleging that a gas mafia was engaged in corruption amidst the country’s worst economic crisis. [...]
HDFC moved NCLT against SITI Networks claiming default of Rs 296 cr
New Delhi, Apr 15 (PTI) Housing Development Finance Corporation Ltd (HDFC) has moved insolvency tribunal NCLT against the country's leading multi-system operator SITI Networks Ltd for an alleged default of Rs 296 crore. SITI Networks has received a notice issued by the Mumbai bench of the National Company Law Tribunal over the petition filed by [...]
Comm min eases certain norms under EPCG scheme to promote ease of doing biz
New Delhi, Apr 15 (PTI) The commerce ministry has relaxed various procedures under the Export Promotion Capital Goods (EPCG) scheme in order to reduce compliance requirements and facilitate ease of doing business. Under the scheme, imports of capital goods are allowed duty free, subject to an export obligation. The authorisation holder (or exporter) under the [...]
THDC India signs pact with Rajasthan govt to produce 10,000 MW of renewable energy
Rishikesh, Apr 15 (PTI) THDC India Limited on Friday signed an MoU with the Rajasthan government to produce 10,000 MW of renewable energy. The project will be completed in five years at a cost of Rs 40,000 crore. The memorandum of understanding (MoU) was signed by THDC CMD Rajiv Vishnoi and Rajasthan Renewable Corporation Ltd [...]
Daalchini Tech expects to clock Rs 50 crore revenue in FY23
New Delhi, Apr 15 (PTI) Retail tech startup Daalchini Technologies is expecting to grow multi-fold and clock a revenue of Rs 50 crore during the current fiscal with offices and institutions reopening in the country, a senior official of the company said on Friday.The company sources vending machines from third party manufacturers and adds Internet-of-Things [...]
Olectra launches heavy-duty electric truck trials
New Delhi, Apr 15 (PTI) Olectra Greentech Ltd, a part of industrial conglomerate MEIL, on Friday said it has begun trials of a 6x4 heavy-duty electric tipper as part of an expansion into the electric truck segment. "Pioneer and market leader in electric bus manufacturing, Olectra now entered into truck manufacturing and this prototype is [...]
Senco plans Rs 525cr IPO, files DRHP with SEBI
Kolkata, April 15 (PTI) Eastern India's leading jewellery retail chain, Senco Gold Limited has filed a draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise Rs 525 crore through an initial public offering, sources in the company said. The IPO of Senco Gold comprises fresh issue of equity shares aggregating up to [...]
Finmin invites applications for the position of CERSAI managing director
New Delhi, Apr 15 (PTI) The Finance Ministry has invited applications for the post of managing director of Central Registry of Securities Asset Reconstruction and Security Interest of India (CERSAI). The Central Registry of Securities Asset Reconstruction and Security Interest of India (Central Registry) has been incorporated in 2011 as a government company under Section [...]
Chandrasekaran conducts major reshuffle in Air India’s top management
New Delhi, Apr 15 (PTI) Air India Chairman N Chandrasekaran Friday effected a major reshuffle in the top management of recently-acquired airline, with Nipun Aggarwal appointed as Chief Commercial Officer and Suresh Dutt Tripathi as Chief Human Resources Officer.Aggarwal, who is also Senior Vice President at Tata Sons, replaces Air India veteran Meenakshi Malik, while [...]
This April, On the Heels of Navratri, Artist Nivedita Saha Joins Audio-Social Learning App Mentza
New Delhi (India), April 15: As Chaitra Navratri wraps up, Nivedita Saha, artist, author and founder of Art Studio Meraki, will be a part of 3 conversations on the Audio-Social Learning App Mentza, from the 16th to 20th of April in Dubai. The 20-minute conversations or circles (as Mentza calls them) that Saha will be [...]
CAG calls for making officials accountable as J-K failed to submit 2,205 UCs for Rs 10,441 cr
Jammu, Apr 15 (PTI) Jammu and Kashmir has failed to submit 2,205 utilisation certificates (UCs) for an amount of over Rs 10,441 crore as on March 31, 2020, the Comptroller and Auditor and General of India (CAG) has said, noting that officials should be held accountable for the lapse. It said the non-submission of the [...]
IDBI Bank seeks shareholders nod for 10-fold hike in MD & CEO salary
New Delhi, Apr 15 (PTI) Private lender IDBI Bank has proposed a nearly 10-fold hike in the salary of its managing director and CEO Rakesh Sharma who had been instrumental in bringing the bank out of the RBI's restrictive prompt corrective action (PCA) framework. The bank has sought the approval of its shareholders through a [...]
Govt invites EoIs to set up manufacturing zone for power, renewable energy sector
New Delhi, Apr 15 (PTI) The government has invited EoIs from interested parties for setting up a manufacturing zone on pilot basis for the power and renewable energy sector. The last date to submit the proposal is June 8, 2022, according to a notification on the website of Ministry of Power. [...]
Mobile retailers’ body to seek govt intervention against e-commerce onslaught
Kolkata, Apr 15 (PTI) A leading mobile retailers' body has claimed that “unethical and monopolistic business practices” of online sales platforms are ‘jeopardising’ the future of 1.5 lakh brick and mortar smartphone retailers across the country and that it will seek govt intervention.In such a situation, the survival of small retailers is at stake, the [...]
Pharma industry must focus on generic, better link between input and output: Goyal
Mumbai, Apr 15 (PTI) Union Commerce and Industry Minister Piyush Goyal on Friday asked the domestic pharmaceutical industry to strengthen its generic medicine sector and ensure better linkage between input and output of products to become self-reliant. Speaking at an event hosted by the Indian Drug Manufacturers' Association to commemorate its Golden Jubilee celebrations here, [...]
Sri Lanka starts fuel rationing amidst severe economic crisis
Colombo, Apr 15 (PTI) Sri Lanka's state-owned petroleum corporation announced fuel rationing for vehicles with effect from Friday, as a historic economic crisis roils the country. According to the Ceylon Petroleum Corporation (CPC) statement, now motorcycles and other two-wheelers can purchase fuel upto worth Rs 1,000 per visit to a fuel station. Similarly, three-wheelers can [...]
Nepal finance minister calls non-residents to open dollar accounts in Himalayan nation
Kathmandu, Apr 15 (PTI) The Nepal government has urged Nepalese nationals living abroad to open dollar accounts in banks in the country and make investments amidst the economic crisis in the Himalayan nation.Nepal's foreign reserves have been hit by a slump in tourism during the pandemic, a problem that has also hit Sri Lanka which [...]
Foundry industry aiming to double mkt size to USD 32 bn in 7 yrs: IIF
New Delhi, Apr 15 (PTI) The domestic foundry industry is aiming to double its market size to USD 32 billion and annual production capacity to 21 million tonnes (MT) over the next 5-7 years, industry body IIF said on Friday. The industry is also expected to attract investment of Rs 500 crore from domestic and [...]
IIL launches 3 crop protection products for paddy, vegetables and maize
New Delhi, Apr 15 (PTI) Agro-chemicals firm Insecticides India Ltd (IIL) on Friday announced the launch of three new crop protection products for paddy, vegetables and maize, and hoped better sales amid the projection of normal monsoon this year. The new products include 'Shinwa', an insecticide for vegetables; 'Izuki', a fungicide for paddy and 'Torry', [...]
Services exports to Australia likely to reach USD 5 bn by 2027: SEPC
New Delhi, Apr 15 (PTI) Services exports to Australia are expected to more than double to USD 5 billion in the next five years on the back of the trade pact signed between the two nations, the Services Exports Promotion Council (SEPC) said on Friday. SEPC Chairman Sunil H Talati said that sectors that will [...]
Elista (Teknodome India Pvt Ltd) ropes in Ishan Kishan as brand ambassador
New Delhi (India), April 15: Brand Elista, having made its presence felt in Indian market in the last 18 months has now roped in the young Indian cricket star Ishan Kishan for a period of two years for its range of products under consumer durables, home appliances and IT accessories. The announcement came into effect [...]
2 Power-packed days of Insights, Learning, Connections and Business by CMPL (Contract Manufacturing & Private Label)
Mumbai (Maharashtra) [India], April 15: India's only platform and community for the B2B contract manufacturing and private label industry, CMPL Expo has announced the next edition of its coveted showcase event. The 4th edition of CMPL Expo will be held at the state-of-the-art, brand new venue - The Jio World Convention Centre, BKC, Mumbai over [...]
Rapido raises USD 180 mn in funding round led by Swiggy
New Delhi, Apr 15 (PTI) Bike taxi platform Rapido on Friday said it has raised USD 180 million (over Rs 1,370 crore) in a Series D round of funding led by new investor Swiggy. The round also saw investment from TVS Motor Company, along with existing investors Westbridge, Shell Ventures and Nexus Ventures, the company [...]
Star Air launches the first non-stop flight between Belagavi and Nagpur
BANGALORE and KOLHAPUR, India, April 15, 2022 /PRNewswire/ -- On 16th of April 2022, Star Air, the aviation arm of Sanjay Ghodawat Group will operate the first direct flight between Belagavi and Nagpur under the regional connectivity scheme UDAN. With no prior direct flights between the two cities, Star Air will become the first airline [...]
Future Enterprises defaults again on Rs 1.22 cr interest payment for NCDs
Debt-ridden Future Enterprises Ltd (FEL) has defaulted on the payment of interest of Rs 1.22 crore due on non-convertible debentures, according to a regulatory filing. The due date for payment of Rs 1.22 crore interest was April 13, 2022, FEL said in the regulatory filing. "The company is unable to service its obligations in respect [...]
Power supply issues affecting industries in Goa: CII
Panaji, Apr 15 (PTI) The Confederation of Indian Industry (CII) Goa chapter has said power shortages, outages and unplanned shutdowns were affecting industries in the state though the government has maintained there were no electricity supply constraints.On Wednesday, Power Minister Sudin Dhavalikar had claimed Goa does not face any power supply issues like in states [...]
Greenbase Industrial & Logistics Park gives on lease 2 lakh sq ft space in Chennai to Jost India
New Delhi, Apr 15 (PTI) Greenbase Industrial & Logistics Park on Friday said it has given on lease 2 lakh square feet industrial space to Jost India in its township at Chennai. Global firm Jost India manufactures components for commercial vehicles and agricultural equipment. Greenbase Industrial & Logistics Park is a joint venture between Niranjan Hiranandani [...]
Bajaj Finance Fixed Deposit is Helping Investors Enjoy High FD Rates up to 7.05 percent p.a.
Pune, Maharashtra, India (NewsVoir) Earning high returns on investments is a priority for many investors as it helps them get closer to achieving their financial goals. When it comes to investment schemes, most Indian families trust fixed deposits. There may be several reasons why, among which are that this instrument is secure, reliable, and offers [...]
Fund raising via debt placement hits 6-yr low at Rs 5.88 lakh cr in FY22
New Delhi, Apr 15 (PTI) Fund raising by listed companies through private placement of corporate bonds plunged to a six-year low in 2021-22 to Rs 5.88 lakh crore owing to good performance of the equities and aggressive fund disbursal by banks at lower interest rate. This was 24 per cent lower from a record Rs [...]
O.P. Jindal Global University Offers New Degree in Applied Psychology
The Jindal School of Psychology and Counselling (JSPC) introduced a B.A. Honours degree in Psychology in August 2021. This August, JSPC will inaugurate a new postgraduate programme—a Master’s degree in Applied Psychology. The two programmes are designed to ensure students receive a robust interdisciplinary education in the psychological sciences by a diverse group of research-active [...]
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