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Stock hits 5% upper circuit after reporting 1430% QoQ increase in net profits
During Friday’s morning trading session, the shares of this micro-cap company hit a 5 percent upper circuit at Rs. 73.5 on BSE, after the company reported Q2 FY25 results with a rise in net profit of around 1430 percent QoQ and 993 percent YoY. With a market cap of Rs. 81.5 crores, the shares of [...]
IT stock jumps 18% after company turns profitable in Q2; Do you hold it?
Shares of this micro-cap IT stock engaged in providing IT and integrated services, including smart city solutions, and e-governance surged 18 percent on Friday after the company reported a 20 percent YoY increase in revenue and strong revenue growth in its latest quarterly results. Price Movement On Friday, Tera Software Ltd.'s share price hit an [...]
Defence stock jumps after receiving order worth ₹500 Cr for defence equipment
The shares of defence equipment manufacturers gained up to 2 percent after the company bagged a prestigious work order for Rs 500 crore for a wide range of defence equipment. With a market capitalization of Rs 2.18 lakh crore, the shares of Bharat Electronics Limited closed at Rs 298.50 per share, decreased around 0.57 percent [...]
3 Market leader stocks trading at discounts of up to 25% to look out for
This market-leading stock, trading at a discount, offers a unique investment opportunity. Known for its strong fundamentals and robust market presence, its current undervaluation may present the potential for substantial returns as it aligns with sector growth and overall market recovery in upcoming quarters. Here are the market leader stocks trading at discounts of up [...]
3 Ashish Kacholia stocks report net profit growth of up to 211% YoY
Ashish Kacholia is a prominent Indian stock market investor known for his expertise in identifying high-growth mid-cap and small-cap companies. With a diversified portfolio across sectors like manufacturing, technology, and pharmaceuticals, he has gained recognition for his strategic investments and has built a reputation as a savvy market player. As per the latest corporate shareholdings [...]
2 Stocks jump 6% after companies net profit increases by up to 74% QoQ
Starting from October 2024 marks a significant financial results season in India, as many companies report their earnings for the second quarter of the fiscal year 2024-25. This period is crucial for investors and analysts, offering insights into the economic health and performance of various sectors. Here are two companies that have witnessed fluctuations in [...]
Ashish Kacholia stock hits 5% upper circuit after announcing 72% YoY increase in net profits
Ashish Kacholia stock engaged in providing electronics system design and manufacturing services, hit a 5 percent upper circuit in the day’s trade upon declaring a 72 percent jump in Net Profits in Q2FY25. Price Action With a market capitalization of Rs. 1,039 Crores, the shares of Aimtron Electronics Limited hit a 5 percent upper circuit [...]
Adani group stock jumps 3% after company’s net profit increases by 35% YoY
Adani Group stock engaged in providing design, engineering, procurement, and construction (EPC) services jumped upto 3 percent in the day’s trade upon declaring 35 percent jump in Net Profits. Price Action With a market capitalization of Rs. 9,432 Crores, the shares of ITD Cementation India Limited were trading at Rs. 549 per equity share, up [...]
Stock under ₹50 jumps 9% after reporting 104% YoY increase in net profits
During Friday’s morning trading session, the shares of a leading packaging solution provider in India surged by 9.8 percent to Rs. 42.7 on BSE, after the company reported Q2 FY25 results with a rise in net profit of around 26 percent QoQ and 104 percent YoY. With a market cap of Rs. 540.5 crores, at [...]
Telecom stock jumps 9% after receiving order worth ₹3,022 Cr for BharatNet Project
Telecom stock engaged in manufacturing, trading and servicing of telecommunication equipment, and rendering other associated and ancillary services jumped upto 9 percent in the day’s trade upon receiving BharatNet Project worth Rs. 3,022 Crores. Price Action With a market capitalization of Rs. 27,572 Crores, the shares of ITI Limited were trading at Rs. 288 per [...]
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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 [...]
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NEWSALERT
Direct tax collection of Rs 14.10 lakh cr in 2021-22 is Rs 3.02 lakh cr more than budget estimate: Revenue Secretary. PTI JD ANZ ABM ABM
NEWSALERT
Direct tax collection in FY22 grew 49 pc, indirect tax collection 30 pc: Revenue Secretary. PTI JD ANZ ABM ABM
Guar seed futures decline amid ample supplies
New Delhi, Apr 8 (PTI) Guar seed prices on Friday declined by Rs 43 to Rs 6,566 per 10 quintals in futures trade. On the National Commodity and Derivatives Exchange, guar seed contracts for April delivery fell by Rs 43 or 0.65 per cent to Rs 6,566 per 10 quintals with an open interest of [...]
Equity mutual funds log Rs 28,463-cr net inflow in Mar; debt funds see Rs 1.15 lakh cr outflow
New Delhi, Apr 8 (PTI) Equity mutual funds attracted a net sum of Rs 28,463 crore in March, making it the 13th consecutive monthly net inflow, amid a volatile stock market environment and continued FPIs (foreign portfolio investors) selling. In comparison, equity mutual funds saw a net inflow of Rs 19,705 crore in February, Rs [...]
Guar gum futures fall on low demand
New Delhi, Apr 8 (PTI) Guar gum prices on Friday fell by Rs 208 to Rs 12,888 per five quintals in futures market as traders offloaded their holdings in line with weak trend in spot market. On the National Commodity and Derivatives Exchange, guar gum for April delivery declined by Rs 208 or 1.61 per [...]
RBI keeps interest rate unchanged, cuts GDP growth forecast
Mumbai, Apr 8 (PTI) The Reserve Bank of India (RBI) on Friday kept borrowing costs unchanged at a record low for the 11th time in a row in a bid to continue supporting economic growth despite inflation edging higher in the aftermath of Russia's war in Ukraine.RBI's six-member Monetary Policy Committee voted to hold the [...]
Dettol Banega Swasth India Celebrates World Health Day with Its Nutrition Initiative Reach Each Child in Amravati and Nandurbar
Nandurbar, Maharashtra, India – Business Wire India Reach Each Child programme celebrated World Health Day for a #HealthierTomorrow in Amravati and Nandurbar districts of Maharashtra. Aligned with the World Health Day theme – Our Planet, Our Health, the campaign focuses on nutrition interventions by giving mothers & children, expecting mothers, women in the village, and [...]
6 Stocks to buy now for quick profits – Axis Securities
Indian Benchmark indices opened on a positive note today, ahead of the outcome of the Central Bank’s monetary policy. The Sensex was up 219.99 points at 59254.94, while the Nifty was up 76.60 points at 17716.10. Broadly, the markets opened in green. Axis Direct has given stock recommendations for positional trading for a duration of [...]
Crude oil futures gain on spot demand
New Delhi, Apr 8 (PTI) Crude oil prices on Friday rose by Rs 122 to Rs 7,400 per barrel as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 122 or 1.68 per cent to Rs 7,400 per barrel in 5,802 [...]
RBI ups inflation projection to 5.7% on global geopolitical tensions
Mumbai, Apr 8 (PTI) With geopolitical tensions clouding the price situation, the Reserve Bank of India (RBI) has raised the retail inflation projection for the current financial year to 5.7 per cent from earlier forecast of 4.5 per cent, though it expects moderation in prices of cereals and pulses on a likely record harvest of [...]
FinMin releases Rs 7,183 cr revenue deficit grant to 14 states
New Delhi, Apr 8 (PTI) The Finance Ministry on Friday said it has released the first instalment of revenue deficit grant of Rs 7,183 crore to 14 states.The grant has been released as per the recommendations of the 15th Finance Commission to Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, [...]
Offgrid Energy Labs plans to commercially launch ZincGel battery products next year
New Delhi, Apr 8 (PTI) IIT Kanpur-backed startup Offgrid Energy Labs on Friday said it plans to commercially launch products with its ZincGel battery technology in India by next year.The company is seeking to enhance the battery swapping segment through its ZincGel battery technology, targetting fleets operating low-powered electric vehicles like two-wheelers and three-wheelers.The ZincGel [...]
Protective Farming and Agri Ecosystem Enabler GrowiT raises 3CR in seed round
GROWiT, a Surat-based protective farming agritech platform, has raised INR 3 crores in seed funding through a close network of investors. The round was led by Mehul Shah from IVY Growth. Other investors who joined the round are Coppermint LLP, Gaurav Singhvi (Co-founder, WFC), Rajeev Goel (Sagar Life Sciences), Sunay Shah (Mahati Electrics), Rohan Desai [...]
Over 34.42 cr beneficiaries get Rs 18.60 lakh cr loan under Mudra Yojana
New Delhi, Apr 8 (PTI) More than 34.42 crore beneficiaries have received Rs 18.60 lakh crore loan under the Pradhan Mantri Mudra Yojana (PMMY) since its launch seven years ago, the Finance Ministry said on Friday.The PMMY was launched by Prime Minister Narendra Modi on April 8, 2015, for providing loans up to Rs 10 [...]
Live video & audio calling app Dyte raises USD 11.6 mn from Unbound, Sequoia, Nexus Venture
Mumbai, Apr 8 (PTI) Live video and audio calling platform Dyte has raised USD 11.6 million in seed funding from Unbound, Sequoia Capital India's Surge and Nexus Venture Partners. Dyte is a developer-friendly, real-time audio and video calling software development kit and since launch has connected half a million people across 300 cities across India, [...]
Atom, a Leading Payments Service Provider, Rebrands itself as NTT DATA Payment Services India Ltd.
Mumbai, Maharashtra, India (NewsVoir) • NTT DATA, a top-10 global IT Services provider, currently operates payment companies in Japan, Hong Kong, Singapore, Vietnam, Malaysia and India • NTT DATA acquired majority stake in the Indian Payment Company, Atom Technologies in 2019 and now renames it to NTT DATA Payment Services India Ltd.• Post-acquisition, the company [...]
Could lead makeup really kill you? A scientist recreated centuries-old skin whitening recipes to find out
Melbourne, Apr 8 (The Conversation) Can makeup really kill you? That’s the myth attached to Maria Gunning, the Countess of Coventry, an 18th-century socialite who reportedly died from her lead-based makeup in 1760, aged just 27.In this episode of The Conversation Weekly podcast, we speak to a scientist who has recreated some centuries-old recipes for [...]
Times Bridge Unveils its First Annual i3 Summit
The i3 Summit by Times Bridge brings together visionary global and Indian leaders to share insights on immersing global ideas in India and scaling Indian ideas on a global stage New Delhi, Delhi, India (NewsVoir) Times Bridge, the global investment and venture arm of The Times Group, successfully concluded its first annual i3 Summit, bringing [...]
Mercedes-Benz India posts 26 pc rise in sales at 4,022 units in Q1
New Delhi, Apr 8 (PTI) Mercedes-Benz India on Friday reported a 26 per cent jump in sales at 4,022 units in the first quarter of 2022, riding on robust demand for both its SUVs and sedans despite the challenges of semiconductor shortage, global supply chain disruptions, and rising input and logistics costs. The company had [...]
Kia India launches new versions of Seltos, Sonet
New Delhi, Apr 8 (PTI) Automaker Kia India on Friday launched the refreshed versions of its two popular products, Seltos and Sonet, with prices starting at Rs 10.19 lakh and Rs 7.15 lakh (ex-showroom, pan India), respectively.The company said the refreshed versions come with multiple updates and additional features, such as 4 airbags as standard [...]
Vaccine resistance has its roots in negative childhood experiences, a major study finds
Dunedin, Apr 8 (The Conversation) Most people welcomed the opportunity to get vaccinated against COVID-19, yet a non-trivial minority did not. Vaccine-resistant people tend to hold strong views and assertively reject conventional medical or public health recommendations.This is puzzling to many, and the issue has become a flashpoint in several countries.It has resulted in strained [...]
IHC to invest $2 bn in Adani Group’s green portfolio
New Delhi, Apr 8 (PTI) Abu Dhabi-based conglomerate International Holding Company will invest USD 2 billion in three green-focused companies in the Adani Group through preferential share allotment."IHC will invest Rs 3,850 crore in Adani Green Energy Ltd (AGEL), Rs 3,850 crore in Adani Transmission Ltd (ATL) and Rs 7,700 crore in Adani Enterprises Ltd [...]
RBI to set up a panel to review, improve customer service
Mumbai, Apr 8 (PTI) In a bid to improve customer service in regulated entities, the Reserve Bank of India on Friday said it will set up a panel to review and further strengthen consumer protection. "The Reserve Bank has over the years taken a number of measures to enhance consumer protection. These measures include laying [...]
RBI starts normalisation on liquidity; introduces SDF as the floor to absorb excess funds
Mumbai, Apr 8 (PTI) The Reserve Bank on Friday took steps towards normalisation of liquidity management to pre-pandemic levels, with the introduction of the standing deposit facility (SDF) as the basic tool to absorb excess liquidity, and narrowing the liquidity adjustment facility (LAF) to 0.50 per cent from the 0.90 per cent. Governor Shaktikanta Das [...]
RBI extends rationalised home loan norms till March 2023
Mumbai, Apr 8 (PTI) Seeking to facilitate a higher credit flow of individual housing loans, the RBI on Friday extended the rationalised home loan norms by another year till March 31, 2023.In October 2020, the Reserve Bank as a countercyclical measure to deal with the COVID situation had rationalised the risk weights by linking them [...]
‘Local for Global’: Indian luxury handbag brand ‘Aranyani’ launched in New York
New York, Apr 8 (PTI) In line with the focus on the ‘Make in India’ and ‘Local for Global’ campaigns, the first luxury handbag brand from India amalgamating traditional Indian craftsmanship, contemporary format and design was launched at the Consulate General here. The exclusive handbag collection ‘Aranyani’, which means the goddess of the forest in [...]
BULLION OPENING RATE
BULLION OPENING RATE MUMBAI, APRIL 8 (PTI) MUMBAI BULLION :- OPENING SILVER SPOT (IN RS PER KILO) : 66682.00 STANDARD GOLD (99.5) : 51583.00 PURE GOLD (99.9) : 51790.00 -------------------- PTI MUM SSBSSB SSB
Rise in Construction Block prices on higher input costs to affect Real Estate projects
An increase in price of raw materials (lime, cement, petcoke & aluminum powder), could cast a shade on AAC Blocks industry which was already under margin pressure due to excessive competition intensity. Over last decade Lightweight Construction Blocks have emerged as a building material of choice and a suitable replacement of clay bricks due to [...]
Navi announces #FeeFreeApril: Zero Processing Fee Month for all Personal Loan Customers
- Navi Finserv (Navi) has launched its #FeeFreeApril campaign, where customers availing of a personal loan in the month of April will enjoy zero processing fee - Customers will get the entire sanctioned loan amount in their bank account, without any deductions BENGALURU, India, April 8, 2022 /PRNewswire/ -- Navi Finserv (Navi) on Friday announced [...]
Pocket HRMS Partners With ClearTax for Seamless Filing of Income Tax
Mumbai, Maharashtra, India – Business Wire India In a series of continuous major partnership streaks, Pocket HRMS has announced the launch of their integrated partnership with ClearTax, India's leading tax filing platform. The employee-centric integration offers the comfortable option of filing income tax returns directly from the employee self-service portal. The integration is currently being [...]
Vanbros Blends Modern Interpretations and Eclectic Visions with Classic Renditions, Offering you the Finest European and Indian Traditions of Luxury
New Delhi, Delhi, India (NewsVoir) The Journey started seven decades ago, the thought of excellence in design and building took a physical form and came to be known as Vanbros. Superlative in all aspects, Vanbros directed all its energy and intellect to create monumental work for clients. From their inception to now, they have taken [...]
FIFS Releases User Guide to Fantasy Sports with Support of Meta to Promote Responsible Gaming
India – Business Wire India The Federation of Indian Fantasy Sports (FIFS), India’s one and only self-regulatory industry body for Fantasy Sports (FS), today released a ‘User Guide To Fantasy Sports,’ compiled with support from global social media giant Meta. The first-of-its-kind user guide put together by a fantasy sports federation with support from a [...]
Card-less cash withdrawal facility across all banks’ ATM network soon: RBI
Mumbai, Apr 8 (PTI) In a bid to check fraud, the Reserve Bank on Friday decided to permit all banks to introduce card-less cash withdrawal through ATMs. Currently, card-less cash withdrawal through ATMs is a permitted mode of transaction offered by a few banks in the country on an on-us basis (for their customers at [...]
RBI keeps interest rate unchanged, cuts GDP growth forecast
Mumbai, Apr 8 (PTI) The Reserve Bank of India (RBI) on Friday kept borrowing costs unchanged at a record low for the 11th time in a row in a bid to continue supporting economic growth despite inflation edging higher in the aftermath of Russia's war in Ukraine.RBI's six-member Monetary Policy Committee voted to hold the [...]
Bill introduced to utilise 380,000 unused family & employment-based visas
Washington, Apr 8 (PTI) A group of influential US lawmakers has introduced a bill in Congress to recapture nearly 380,000 unused family and employment-based visas to reduce a massive Green Card backlog, a move which could benefit thousands of highly-skilled IT professionals from India. A Green Card, known officially as a Permanent Resident Card, is [...]
SBI-DIRECT EXCHANGE RATES
MUMBAI, APR 8 (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 75.15 76.65 75.09 76.81 EUR/INR 81.01 83.83 80.95 83.99 GBP/INR 97.58 100.73 97.50 100.93 JPY/INR 60.25 62.22 60.20 62.35 [...]
₹48 to ₹1600; This multibagger stock has given 3200% in two years
A Hyderabad-based cloud computing firm has changed fortunes for many investors in the past two years. The scrip surged from ₹48.85 levels in April 2020 to ₹1612.50 apiece. It gave investors stellar returns of 3200.92% in the last two years! This means that an investment of ₹1,00,000 in April 2020 would have turned into a [...]
JSW Steel combined crude steel output grows 37%; FY22 production soars 38%
New Delhi, Apr 8 (PTI) JSW Steel on Friday posted a combined crude steel production of 5.98 million tonne (MT) for the quarter ended March 31, 2022. At 5.98 MT, the production was 37 per cent higher compared to 4.36 MT steel the company had produced in the year-ago period, JSW Steel said in a [...]
RBI maintains status quo; leaves benchmark lending rate unchanged at 4%
The Reserve Bank of India on Friday kept the benchmark interest rate unchanged at 4 per cent and going forward decided to withdraw its accommodative stance to ensure that inflation remains within the target level. Retail inflation is hovering above the RBI's upper tolerance level for the past couple of months. It was 6.07 per [...]
JIBS shortlisted for the prestigious Times Education Asia Award
Sonipat, 8 April, 2022: In a significant academic leap, Jindal Institute of Behavioural Sciences (JIBS)‒ a value-based research Institute of O.P. Jindal Global University‒ has been shortlisted for the Times Higher Education Asia Awards 2022, for its 'innovation and inclusion to empower classrooms and community' across the world. The institute has been rewarded for its [...]
MUM PEPPER COPRA OPENING RATES
MUMBAI, APR 8 (PTI) Mumbai :- PEPPER COPRA RATES :- BLACK PEPPER READY 560 / 620 GINGER BLEACHED -- GINGER UNBLEACHED 155 COPRA OFFICE ALAPUZHA 96000 COPRA OFFICE KOZIZODE 94000 COPRA RAJAPUR MUMBAI 18500 COPRA EDIBLE MUMBAI 12500 COCHIN COCONUT OIL ---- COCONUT OIL MUMBAI 1750 T.P ------------ PTI MUM SVC SVC
NEWSALERT
RBI says it is not hostage to any rule book, will use all available tools to defend Indian economy. PTI KPM DP NKD CS ANZ BAL
Sri Ramakrishna Hospital: Everything One Needs to Know About Varicose Veins and Its Treatment
Coimbatore, Tamil Nadu, India – Business Wire India There are many myths surrounding the treatment of varicose veins which prevent people from seeking medical help and completely recovering from this condition. Sri Ramakrishna Hospital provides a detailed explanation of what causes varicose veins along with busting a few myths related to the treatment of this [...]
NEWSALERT
RBI to review customer services; cardless cash withdrawal from ATMs extended to all banks using UPI: Das. PTI DP ANZ DP BAL BAL
Ruchi Soya jumps over 8% after listing of FPO shares
The stock of Ruchi Soya Industries on Friday jumped over 8 per cent after listing of shares of the company pursuant to the Follow on Public Offer (FPO). The stock jumped 7.77 per cent to Rs 882.55 on the BSE. At the NSE, it gained 8.23 per cent to Rs 885. According to a BSE [...]
NEWSALERT
RBI to maintain orderly financial condition in market and will take steps to contain impact of global spillovers: Das. PTI DP ANZ DP BAL BAL
NEWSALERT
RBI will engage in gradual, multi-year withdrawal of Rs 8.5 lakh crore excess liquidity in system: Governor Das. PTI DP ANZ DP BAL BAL
NEWSALERT
RBI will continue to adopt nuanced, nimble approach to liquidity management while ensuring adequate liquidity in system: Das. PTI KPM DP NKD CS ANZ NKD BAL BAL
NEWSALERT
Inflation is expected to rise to 5.7 pc from 4.5 pc projected earlier for FY23: Das. PTI DP ANZ DP BAL BAL BAL
NEWSALERT
Robust rabi crop should support rural demand; pickup in contact-intensive services to help boost urban demand: Das. PTI KPM NKD DP CS ANZ NKD BAL BAL
NEWSALERT
Sharp pump prices may push inflation; edible oil prices to remain at elevated level in near future: Das. PTI DP ANZ DP BAL BAL
NEWSALERT
War could impede economic recovery; RBI cuts growth projection to 7.2 per cent for FY23: Governor Das. PTI DP ANZ DP BAL BAL
NEWSALERT
Global crude oil prices remain volatile at elevated levels: RBI Governor Das. PTI KPM DP NKD CS ANZ NKD BAL BAL
NEWSALERT
Indian economy is steadily reviving from pandemic-induced slowdown, says Das. PTI DP ANZ DP BAL BAL
RBI-MONEY MARKET OPERATIONS
MUMBAI, April 8 (PTI) Money Market Operations as on April 7, 2022 (Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume Weighted (One Leg) Average Rate RANGE A. Overnight Segment 498,721.83 3.34 0.01-5.35 I. Call Money 12,343.00 3.27 2.20-3.55 II. Triparty Repo 360,162.35 3.36 3.00-3.40 III. Market Repo 126,186.48 3.29 0.01-3.50 IV. Repo [...]
NEWSALERT
Expected benefits from ebbing of Omicron wave offset by escalation in geopolitical tensions: RBI Guv. PTI KPM DP NKD CS NKD BAL BAL
NEWSALERT
MPC decides to keep reverse repo rate unchanged at 3.35 pc: RBI Governor. PTI DP NKD ANZ DP BAL BAL
NEWSALERT
RBI revises its stance to less accommodative to revive, sustain growth and contain inflation: Das. PTI DP NKD ANZ DP BAL BAL BAL
Lankan fuel pumps may go dry by April end; India’s USD 500 mn credit line exhausting rapidly
Colombo, Apr 8 (PTI) Sri Lanka may run out of diesel by the end of this month with the USD 500 million line of credit extended by India for fuel purchase exhausting fast amidst the unprecedented shortage of foreign reserves. Sri Lanka is facing its worst economic crisis since gaining independence from the UK in [...]
Sonata Software communicates CEO Succession Plan
Announced Mr. Samir Dhir as CEO from 8th April 2022. BENGALURU, India, April 7, 2022 /PRNewswire/ -- Sonata Software, the global IT digital services and solutions Company today announced its CEO's transition as part of the Board's succession plan. Mr. Srikar Reddy will continue as MD and will transition to Samir over the next nine [...]
Bharatpe CEO apologises for remark on salary row; firm says March salary paid
Fintech firm Bharatpe CEO Suhail Sameer on Thursday apologised for his remarks in a social media post allegedly indicating that former company chief Ashneer Grover has stolen money from the company and little is left to pay the salaries of employees. A Bharatpe employee in a Linkedin post had raised the matter of termination of [...]
Lenskart to sell products through more online platforms
New Delhi, Apr 7 (PTI) Softbank-backed eyewear retailer Lenskart on Thursday announced the expansion of its online presence by offering products on Nykaa, Myntra, Tata Cliq and other platforms. The move is part of its plan to "scale up presence on all international platforms this quarter". "This step highlights our continued efforts to fully transform [...]
Key Congressional committee passes bill to eliminate per country cap on Green Card
Washington, Apr 7 (PTI) A key US Congressional committee has passed a legislation to eliminate the per-country cap on issuing of Green Card on employment-based immigrant visas and to increase the per-country cap for family-based immigrant visas from seven per cent to 15 per cent, a move which will benefit Indian IT professionals languishing over [...]
PSUs get one-time window to surrender non-operational coal blocks
New Delhi, Apr 7 (PTI) The government on Thursday approved providing one-time window to state and central public sector units to surrender coal mines that could not be made operational due to technical reasons. The decision was taken by the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. No penalty will [...]
Govt may ask Ola Electric to explain why its e-scooter caught fire
New Delhi, Apr 7 (PTI) The government may ask Ola Electric to explain the incident of its electric scooter catching fire in Pune last month, a senior government official said on Thursday. The government had ordered a probe last month after an e-scooter launched by the ride-hailing operator's electric mobility arm caught fire in Pune. [...]
NEWSALERT
Key Congressional committee passes bill to eliminate per country caps on Green Card. PTI LKJ AMS AKJ AMS AMS
CAIT, IFA ask govt to bring down GST to 5% on footwear under Rs 1,000
New Delhi, Apr 7 (PTI) Traders' body CAIT and Indian Footwear Association (IFA) on Thursday urged Finance Minister Nirmala Sitharaman to keep GST on footwear costing below Rs 1,000 at 5 per cent.With effect from January 1, 2022, all footwear, irrespective of prices, attract a GST rate of 12 per cent.To support their contention, they [...]
HC grants interim protection from coercive action to SpiceJet promoter Ajay Singh in fraud case
New Delhi, Apr 7 (PTI) The Delhi High Court on Thursday granted interim protection from arrest to SpiceJet promoter Ajay Singh in a case of an alleged fraud related to the transfer of shares of the airline to certain individuals. “No coercive action shall be taken against the petitioner till next date of hearing and [...]
Irdai to urge govt to remove Rs 100 cr entry cap for setting up insurance biz, says Chairman
Mumbai, Apr 7 (PTI) Insurance Regulatory and Development Authority of India (Irdai) is likely to urge the government to remove the Rs 100 crore entry cap for setting up an insurance company in the country, its Chairman Debasish Panda said on Thursday.The lower entry barrier will facilitate the entry of more niche players in the [...]
Jindal Stainless sales grow 23 pc in FY22
New Delhi, Apr 7 (PTI) Jindal Stainless Limited (JSL) on Thursday posted a 23 per cent jump in its sales at 10.11 lakh tonnes in FY22 compared to the year-ago period. During the fourth quarter of FY22, the company's sales volume stood at 2,69,168 tonnes, up 6 per cent compared to the year-ago period. In [...]
Rupee falls 19 paise to 76.03 against US dollar
Mumbai, Apr 7 (PTI) The rupee declined 19 paise to close at 75.95 (provisional) against the US dollar on Thursday as the hawkish stance of the US Federal Reserve affected investor sentiments in global markets and bolstered the American currency.A negative trend in domestic equities and elevated oil prices amid the Russia-Ukraine conflict added to [...]
Taiwan footwear firm to set up Rs 1,000-crore manufacturing unit in TN, inks MoU
Chennai, Apr 7 (PTI): Taiwan-based Hong Fu Group would invest Rs 1,000 crore to set up a footwear unit in Tamil Nadu and signed a memorandum of understanding with the State government in this connection. The MoU was signed between top officials of the company and Guidance Tamil Nadu, the State investment promotion agency, in [...]
RBI proposes to simplify payment settlement process for trade via e-commerce
Mumbai, Apr 7 (PTI) Reserve Bank of India on Thursday proposed to modify the existing norms to simplify and rationalise the process for settlement of payment for exports and imports through e-commerce. RBI has issued draft guidelines on 'Processing and Settlement of small value Export and Import related payments' facilitated by Online Export-Import Facilitators (OEIF) [...]
Milma bucks Covid-induced crisis, turnover up by 25% in 2021-22
Thiruvananthapuram, Apr 7 (PTI) Bucking the grim pandemic-induced crisis in the last two years, Kerala's cooperative dairy major Milma recorded a 25 per cent increase in its turnover in 2021-22. Significantly, the higher turnover has been achieved by Milma in the last two financial years without cutting down the procurement price of milk from farmers [...]
Sebi levies Rs 25 lakh fine on five entities in illiquid stock options case
New Delhi, Apr 7 (PTI) Capital markets regulator Sebi on Thursday imposed penalties totalling Rs 25 lakh on five entities for indulging in non-genuine trades in illiquid stock options on BSE. In five separate orders, the regulator slapped a fine of Rs 5 lakh each on Krishna Kumari, Rajeshree Haresh Lathia, Priya Abhay Nahar, Nayana [...]
Customs officers have seized 5.85 kg of cocaine at IGI airport
Customs officers have seized 5.85 kg of cocaine at the Indira Gandhi International Airport here, the biggest seizure at any Indian airport so far, the Finance Ministry said on Thursday. In the past six months, Customs at the IGI Airport alone has booked no less than 16 cases under NDPS Act, the highest number at [...]
Trader’s body seeks ban on online medicine sales
Traders' body CAIT on Thursday asked the government to prohibit online marketplaces from selling drugs in the country, a day after e-retailer Flipkart announced its entry into the medicine vertical. In a statement issued on Thursday, the Confederation of All India Traders (CAIT) said it has written to commerce minister Piyush Goyal and health minister [...]
Nuanced, calibrated approach essential for launch of CBDC, says Reserve Bank DG
New Delhi, Apr 7 (PTI) Reserve Bank of India Deputy Governor T Rabi Sankar on Thursday said a nuanced and calibrated approach is essential for launch of India's maiden digital currency as it would have various implications for the economy and monetary policy. RBI is planning to come out with a central bank backed digital [...]
Allana Group forays into domestic coffee market
Mumbai, Apr 7 (PTI) Coffee exporter Allana Group on Thursday announced its foray into the domestic market and said it will set up a coffee unit in Karnataka at an investment of Rs 40 crore.The group, which has been exporting the green bean since 1987, is planning to introduce international grade coffees to Indian consumers, [...]
West coast refinery project: UN advisor questions India’s commitment to climate goals
Mumbai, Apr 7 (PTI) Pursuing projects like the Rs 3 lakh crore mega refinery on the west coast raises questions about India's commitment to its stated goals to save the planet, an American academic said on Thursday.If countries like Saudi Arabia, which have themselves come out with their own targets to reduce carbon emissions, help [...]
RBI imposes curbs on Shushruti Souharda Sahakara Bank Niyamita
Mumbai, Apr 7 (PTI) RBI on Thursday imposed several restrictions on Bengaluru-based Shushruti Souharda Sahakara Bank Niyamita, including a withdrawal cap of Rs 5,000 per account, following a deteroriation in the lender's financial position.The directions shall remain in force for a period of six months from the close of business on April 7, 2022, and [...]
Jaro Education announces second ESOP worth Rs 15 cr
Mumbai, Apr 7 (PTI) Edtech company Jaro Education on Thursday announced its second grant of ESOP (employee stock option plan) worth Rs 15 crore to reward the company's existing employees.According to the scheme, employees of Jaro Education will be able to vest their ESOPs over 3 years, the company said in a statement.The grant of [...]
TAAI postpones convention in Sri Lanka
Kolkata, Apr 7 (PTI) Travel Agents Association of India (TAAI) has decided to postpone its scheduled convention in Sri Lanka in the wake of the economic crisis in the neighbouring country, an official said on Thursday.The 66th Convention & Exhibition of TAAI was scheduled to be held between April 19 and 22 in Colombo, the [...]
PIL to display product MRP, seller details by e-commerce websites: HC asks UoI to evolve mechanism
New Delhi, Apr 7 (PTI) The Delhi High Court Thursday asked the Centre to evolve and place before it a proper mechanism for conducting periodical checks of e-commerce platforms to ensure compliance with rules relating to the display and packaging of products sold on their websites. A bench of Acting Chief Justice Vipin Sanghi and [...]
Trai scraps charge on USSD messages for mobile banking, payment services
New Delhi, Apr 7 (PTI) In a move to boost financial inclusion, telecom regulator Trai has scrapped the charges levied on USSD messages, which are mostly availed by feature phone users, for transactions related to mobile banking and payment services. USSD is a mobile short code that enables financial and banking transactions even on feature [...]
Hester to get Rs 60 cr grant from BIRAC to support COVID vaccine production
New Delhi, Apr 7 (PTI) Hester Biosciences on Thursday said it will receive a Rs 60-crore grant from Biotechnology Industry Research Assistance Council (BIRAC) to support COVID-19 vaccine manufacturing."The company's board has approved execution of grant-in-aid letter agreement for a grant of Rs 60 crore (in phased manner) to the drug maker by BIRAC under [...]
Irdai seeks revised business plans from three public insurance cos
Mumbai, Apr 7 (PTI) Insurance sector regulator Irdai has sought revised business plans from three state-owned general insurance companies - National Insurance Company Ltd, United India Insurance Company Ltd and Oriental Insurance Company Ltd - that are facing financial issues, a top official said.The three state-owned general insurance players will have to meet certain regulatory [...]
SONAE EV launches charging stations for electric two-wheelers
Mumbai, Apr 7 (PTI) Mobility firm SONAE EV has launched its universal charging stations for electric two-wheelers and the company plans to establish 1 lakh charging stations in the country in next 5 years. These charging stations will be up for sale from June 2022, it said in a release. The company said it is also [...]
UK Opposition questions Akshata Murty’s tax status
London, Apr 7 (PTI) The UK Opposition has questioned the non-domicile tax status of India-born Akshata Murty, daughter of Infosys co-founder Narayana Murthy, and demanded an urgent explanation from her husband – UK Chancellor Rishi Sunak.A non-domicile status means Murty, who owns shares in Infosys, is not legally bound to pay tax in the UK [...]
Irdai asking insurance companies to go for listing to raise capital: Chairman
Mumbai, Apr 7 (PTI) Insurance Regulatory and Development Authority of India (Irdai) has asked insurance companies to go for listing to improve their access to capital, its Chairman Debasish Panda said on Thursday.The listing will help insurance players to raise capital for growing their business and also deepening the insurance penetration in the country, he [...]
Jaro Education announces second ESOP worth Rs 150 mn
Mumbai, Apr 7 (PTI) Edtech company Jaro Education on Thursday announced its second grant of ESOP (employee stock option plan) worth Rs 150 million (about Rs 1,140 crore) to reward the company's existing employees.According to the scheme, employees of Jaro Education will be able to vest their ESOPs over 3 years, the company said in [...]
Indore airport sees 86 pc jump in passenger traffic in 2021-22
Indore, Apr 7 (PTI) Passenger traffic at Indore's Devi Ahilyabai Holkar Airport registered a healthy increase of 86 per cent to 16.63 lakh flyers in financial year 2021-22 on the back of drop in COVID-19 cases, relaxation in travel restrictions and launch of new services, an official said on Thursday.In FY 2020-21, the year of [...]
Tata group launches super app Tata Neu
New Delhi, Apr 7 (PTI) Tata group on Thursday launched possibly India's first super app, Tata Neu, that brings together grocery-to-hotel-to-airline ticket booking and medicine on a single platform, rivalling similar products from Amazon and Walmart's Flipkart. In a social media post, Tata Sons Chairman N Chandrasekaran said Tata Neu combines the traditional consumer-first approach [...]
India-Australia trade pact has geostrategic significance: Tehan
Sydney, Apr 7 (PTI) Australian Trade Minister Dan Tehan on Thursday said the recently signed trade agreement with India is of geostrategic significance and will help in promoting rule-based trade in the Indo-Pacific region.Without naming China, Tehan said there is an "assertive autocratic" government that is seeking to change the rules of the game at [...]
Good meeting with Intel CEO; discussions on semiconductor programme, tech, auto innovation: MoS IT
New Delhi, Apr 7 (PTI) Minister of State for IT Rajeev Chandrasekhar on Thursday tweeted about his recent meeting with Intel CEO, Pat Gelsinger and said discussions were around India's semiconductor programme, and the roadmap in mobility, technology and auto innovation. Gelsinger had met Prime Minister Narendra Modi on Wednesday, and a statement by the [...]
Tata group launches super app Tata Neu
Tata group on Thursday launched possibly India's first super app, Tata Neu, that brings together grocery-to-hotel-to-airline ticket booking and medicine on a single platform, rivalling similar products from Amazon and Walmart's Flipkart. In a social media post, Tata Sons Chairman N Chandrasekaran said Tata Neu combines the traditional consumer-first approach of the group with the [...]
US-based ShipBob appoints Pramod Jajoo as India head
Mumbai, Apr 7 (PTI) Chicago-based omni-fulfilment platform ShipBob on Thursday said it has appointed Pramod Jajoo as the senior vice president of Technology and Country Head. The company also announced the launch of its Technology Innovation Hub in New Delhi.Jajoo will lead ShipBob's expansion in India while overseeing all technology advancements the company will undertake [...]
InfoVision to hire additional 2,000 engineers in India to expand digital services by 2023
Mumbai, Apr 7 (PTI) Global digital services and product company InfoVision Inc on Thursday said it is planning to hire an additional 2,000 software engineers across its India development centres by 2023.The announcement came after the company experienced an exponential growth in FY22, InfoVision Inc said in a statement.Currently, InfoVision has its presence in five [...]
RBI issues guidelines for banks to set up 24X7 digital banking units
The Reserve Bank of India on Thursday said existing banks can open digital banking units to offer products and services in both self-served and assisted mode round-the-clock. In the Union Budget, the government announced the setting up of at least 75 such units in 75 districts to commemorate 75 years of the country's independence as [...]
Hope to finalise agreement with Australian for joint production in audio-visual services: Goyal
Sydney, Apr 7 (PTI) Commerce and Industry Minister Piyush Goyal on Thursday said negotiations with Australia are on for a joint production partnership in the audio-visual services, and an agreement to that effect is expected to be finalised.Australia has technologies and equipment, and India has skilled manpower to increase cooperation in the sector, the minister [...]
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