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6 stocks in which FIIs have increased their stake by up to 20% in Q2
Investors often prefer small and mid-cap stocks because of their potential for higher growth and returns compared to large-cap stocks. These companies, being smaller or in earlier stages of growth, have more room to expand and can experience rapid growth, which may lead to substantial gains for shareholders. An increase in holding stakes by Foreign [...]
3 Stocks in the business of manufacturing lab grown diamonds
The lab-grown diamond industry has rapidly gained momentum in recent years, driven by advancements in technology and changing consumer preferences.According to recent reports, the market for lab-grown diamonds is expected to grow at a compound annual growth rate (CAGR) of around 7 percent to 10 percent through the coming years, reaching a significant market share [...]
2 Alcohol stocks that announced robust Q2 results
The Indian alcohol industry is experiencing steady growth, driven by factors such as a young demographic, rising disposable incomes, and increasing social acceptance of alcohol consumption the industry which includes spirits, beer, and wine, is expected to grow at a Compound Annual Growth Rate (CAGR) of around 6-8 percent from 2023 to 2028. Listed below [...]
Ashish Kacholia stocks in which FIIs increased their stake by up to 2.26% in Q2
Foreign Institutional Investors (FIIs) are significant players in global financial markets, comprising various entities such as mutual funds, pension funds, and hedge funds, among others. They invest substantial capital across international borders, influencing the market dynamics, liquidity, and investment trends, thus playing a crucial role in shaping global investment landscapes and economic development. Here are [...]
4 Stocks in which SBI group bought fresh stake up to 4.2% to look out for
The State Bank of India (SBI) Group, India's largest public sector banking and financial services entity, offers a comprehensive range of services. With over 24,000 branches and 58,000 ATMs, SBI serves millions of customers globally, playing a pivotal role in India's economic Development. Here are the stocks in which SBI Group bought fresh stakes up [...]
Hidden Gem: Recycling stock that specializes in manufacturing of recycled polyester fibre
Divyadhan Recycling Industries Limited (DRIL) is a key player in the recycling sector, specializing in the production of Recycled Polyester Staple Fibre (R-PSF) and recycled pellets. The company focuses on promoting environmental sustainability by recycling post-consumer PET bottles. DRIL has a manufacturing capacity of 18,000 metric tons (MT) of Recycled Polyester Staple Fiber (R-PSF) per [...]
5 Stocks under ₹200 in which FIIs have increased their stake by up to 7% in Q2
An increase in holding stakes by Foreign Institutional Investors (FIIs) in certain companies suggests a positive outlook on the company's performance, management, and future potential. This trend often leads to speculation about expected growth and possible upcoming changes within the company. FIIs are crucial to stock markets as they provide liquidity, boost investor confidence, and [...]
EMS stock with 45% revenue growth potential and expansion plan for smart meter business
During Tuesday’s trading session, the shares of one of the leading electronics systems design and manufacturing companies in India moved up by 17.8 percent to hit an intraday high at Rs. 508.85 on BSE. Stock Performance: With a market cap of Rs. 8,890 crores, the shares of Syrma SGS Technology Limited opened in red at [...]
3 Stocks in which promoter increased their stake by up to 2% in Q2
Promoters expanding their investment in a company are frequently regarded as a favorable sign of trust in the firm's future development. This tendency might indicate the promoters' confidence in the company's long-term growth potential and stability. Here are three stocks in which Promoter has increased stake up to 2.31% in the Q2FY25; Kalyan Jewellers India [...]
Financially strong stock to buy now for an upside of 35%; Do you own it?
The Indian lubricants industry was valued at USD 7.19 billion in 2023 and is projected to grow at a CAGR of 4.4%, reaching USD 9.70 billion by 2030. This growth is driven by the expanding automotive sector and increasing industrial activities across the country, alongside advancements in lubricant technology. With a market capitalization of Rs [...]
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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
This International Transgender Day of Visibility, Kaya paves the way for campaigns with real impact and real change
~The #BeautyInSafety campaign takes the first step towards visibility and equal opportunities for transgender people in India~ MUMBAI, India, March 31, 2022 /PRNewswire/ -- Kaya, India's leading skincare and largest dermatologist network enabled brand, recently unveiled a new identity, symbolic of a strategic realignment with its ever-growing young consumer base. Punctuated by this new purpose-fuelled [...]
Hero MotoCorp Launches the Sixth Edition of Hero CoLabs
Flagship crowd-sourcing platform enters its third year New Delhi, Delhi, India – Business Wire India Aligned with its Mission to “Create, Collaborate Inspire”, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today announced the sixth edition of Hero CoLabs, its flagship crowd-sourcing platform. With overwhelming response from participants during the past two years, [...]
JLR to cut 46% greenhouse gas emissions by 2030
New Delhi, Mar 31 (PTI) Jaguar Land Rover (JLR) on Thursday said it has committed to cut 46 per cent greenhouse gas emissions across its operations by 2030.In addition, the Tata Motors-owned automaker will reduce average vehicle emissions across its value chains by 54 per cent, including a 60 per cent reduction throughout the use [...]
Axis Bank shares jump nearly 2% after Citi deal
Shares of Axis Bank gained nearly 2 per cent in morning trade on Thursday, after the company said it will acquire US-based Citi's consumer business in India for Rs 12,325 crore. The stock jumped 1.82 per cent to Rs 763.90 on the BSE. At the NSE, it gained 1.67 per cent to Rs 763. Axis [...]
Fully cooperating with CCI investigation: Apollo Tyres
Apollo Tyres on Thursday said it is cooperating with the investigation by the Competition Commission of India (CCI), asserting that it has acted in compliance with competition laws. CCI officials visited the offices of Apollo Tyre on Wednesday. Another tyre maker Ceat Ltd had also confirmed a visit by the officials of the anti-trust regulator [...]
Citi joins list of foreign banks scaling down India ops with Rs 12,325 cr arm sale to Axis Bank
New Delhi/Mumbai, Mar 31 (PTI) American banking major Citi has joined a long list of foreign banks that have either exited or cut down on their business presence in India with the sale of its consumer banking business to Axis Bank for Rs 12,325 crore. Except for Singaporean lender DBS Bank, which has expanded its [...]
THE SLEEP COMPANY FORAYS INTO A NEW COMFORT-TECH CATEGORY WITH THE LAUNCH OF THE WORLD’S FIRST AND ONLY SMARTGRID CHAIRS
• Both chair variants include smart integrations of The Sleep Company's patented SmartGRID technology and have received 250+ early-bird bookings just 3 days after its online preview • Designed as an orthopaedic seating solution, the Onyx chair has been created for advanced back support while the aesthetics of the Aristo Chair offers a luxurious feel [...]
London NGO Wells On Wheels Ropes In Actor Sanjay Kapoor For Rural Upliftment In India
MUMBAI, India, March 31, 2022 /PRNewswire/ -- Indian film actor and producer, Sanjay Kapoor announces his partnership with UK based charitable institute Wells on Wheels (WOW) founded by dental marketer Shaz Memon. As part of this association, Sanjay Kapoor will commit towards the goal of upliftment of rural areas in India with a vision to [...]
Tejas Networks Announces Acquisition of Saankhya Labs (P) Ltd. To Enhance its Wireless Products Offering
BENGALURU, India, March 31, 2022 /PRNewswire/ -- Tejas Networks (BSE: 540595) (NSE: TEJASNET) today announced that it has signed definitive agreements to acquire 64.40% of shares of Saankhya Labs Private Ltd. Bangalore ("Saankhya") for INR 283.94 Cr in cash. The initial acquisition of Saankhya shares is expected to close within the next 90 days. Tejas [...]
Tata’s Tejas acquires majority stake in semiconductor firm Saankhya Lab
Tata Group firm Tejas Networks will acquire 64.40 per cent stake in semiconductor firm Saankhya Labs Pvt Ltd for Rs 283.94 crore in an all-cash deal. The initial acquisition of Saankhya shares is expected to close within the next 90 days, Tejas said in a statement. "Tejas Networks, upon procuring all necessary consents and approvals, [...]
Defence ties, reducing Russian dependence focus of UK minister’s India visit
London, Mar 31 (PTI) Deepening security and defence ties with India and the importance of all countries reducing strategic dependency on Russia in light of the Ukraine conflict will be the focal points of discussions when British Foreign Secretary Liz Truss arrives in New Delhi on Thursday.The UK Foreign, Commonwealth and Development Office (FCDO) said [...]
DVC, NTPC form JV for renewable power projects
Kolkata, Mar 30 (PTI) Damodar Valley Corporation (DVC) on Wednesday said it signed a joint venture agreement with NTPC Renewable Energy Ltd, a fully owned subsidiary of the NTPC Limited, for renewable power projects in its command area.DVC will hold 49 per cent and NTPC Renewable will hold 51 per cent in the JV company [...]
Citi joins list of foreign banks scaling down India ops with Rs 12,325 cr arm sale to Axis Bank
New Delhi/Mumbai, Mar 30 (PTI) American banking major Citi on Wednesday joined a long list of foreign banks that have either exited or cut down on their business presence in India with the sale of its consumer banking business to Axis Bank for Rs 12,325 crore. Except for Singaporean lender DBS Bank, which has expanded [...]
Sebi launches ‘Manthan’ ideathon to promote innovation in securities mkt
New Delhi, Mar 30 (PTI) Sebi Chairperson Madhabi Puri Buch on Wednesday said that India is well positioned to leverage technology in the securities market to deliver customised solutions at a very low cost to individuals across the country as she launched an ideathon to promote innovation. Launching the ideathon 'Manthan', Buch highlighted that adoption [...]
Import of refurbished Apple devices denied due to e-waste worries: minister
New Delhi, Mar 30 (PTI) The government rejected an application for the import of refurbished Apple iPhone and iPads as it will expedite e-waste generation in the country, Parliament was informed on Wednesday. Minister of State for Electronics and IT Rajeev Chandrasekhar in a written reply to the Lok Sabha said that under the Foreign [...]
Axis Bank to buy Citi’s retail biz in India for Rs 12,325 cr to close gap with rivals
Mumbai, Mar 30 (PTI) Axis Bank on Wednesday said it will acquire US-based Citi's consumer business in India for Rs 12,325 crore in one of the largest deals in the Indian financial services space which will help it close the gap with larger peers like ICICI Bank and HDFC Bank. The two lenders signed a [...]
China agrees to rollover USD 4.2 billion Pakistan debt: Qureshi
Beijing, Mar 30 (PTI) China on Wednesday acceded to Pakistan's request to rollover a whopping USD 4.2 billion debt repayment to provide a major relief for its all-weather ally, which is reeling under major economic crisis.Chinese Foreign Minister Wang Yi in his meeting with Pakistan counterpart Shah Mehmood Qureshi on the sidelines of the 3rd [...]
Chinese FM Wang meets Pak counterpart Qureshi; cautions against emergence of “bloc confrontation” in Asia
Beijing, Mar 30 (PTI) Chinese Foreign Minister Wang Yi in his talks with his Pakistani counterpart Shah Mehmood Qureshi on Wednesday cautioned against the emergence of "bloc confrontation" in Asia and underlined that small and medium countries in the region must not be allowed to become "tools or victims" of major-country rivalry. Wang who has [...]
TPG subscribes to 3.75 crore shares in Tata Passenger Electric Mobility
New Delhi, Mar 30 (PTI) Tata Motors on Wednesday said TPG Rise Climate has subscribed to 3.75 crore compulsorily convertible preference shares worth Rs 3,750 crore as the first tranche of the proposed investment of Rs 7,500 crore in its passenger electric vehicle business. Last year in October, Tata Motors had announced that it would raise [...]
Sebi slaps Rs 8 lakh fine on five individuals
New Delhi, Mar 30 (PTI) Sebi on Wednesday imposed penalties totalling Rs 8 lakh on five individuals for various violations with respect to funds raised by Tirupati Fincorp Ltd through preferential allotment of shares back in 2013. The matter pertains to suspected misutilisation of funds raised by Tirupati Fincorp Ltd through preferential allotment of equity [...]
Rajasthan govt announces 3pc hike in dearness allowance of state employees, pensioners
Jaipur, Mar 30 (PTI) Rajasthan Chief Minister Ashok Gehlot on Wednesday approved a 3 per cent increase the dearness allowance of state employees and pensioners on the lines of central government employees. According to a government spokesperson, now 34 per cent dearness allowance will be payable to state employees and pensioners from January 1, 2022. [...]
PAN to become inoperative after March 2023 if not linked to Aadhaar
New Delhi, Mar 30 (PTI) The Income Tax Department on Wednesday said non-linking of PAN with Aadhaar by March 31 would attract penalty of up to Rs 1,000, but such PAN will remain functional for one more year till March 2023, for filing ITR, claiming refunds and other I-T procedures. The Central Board of [...]
CCI officials visit Ceat office for ‘routine enquiry’
New Delhi, Mar 30 (PTI) Tyre maker Ceat Ltd on Wednesday said that officials of Competition Commission of India (CCI) visited its office for a 'routine enquiry' but denied any wrongdoing in the conduct of the company's business."The CCI officials visited the Ceat office today for a routine enquiry. As a responsible corporate, we are [...]
Hotel industry expects traction in occupancy, room rates in 2022: study
Kolkata, Mar 30 (PTI) The hotel industry in the country which bore the brunt during the COVID-19 pandemic is on the path of recovery with higher occupancy, increased average room rates (ARR) and spurt in merger and acquisition deals, a study said on Wednesday.Domestic leisure travel is the driving force behind the road to recovery [...]
Project Monitoring Group reviews 374 high impact infrastructure projects in FY 2021-22
New Delhi, Mar 30 (PTI) The Project Monitoring Group (PMG) has reviewed as many as 374 high impact infrastructure projects worth around Rs 17 lakh crore in 2021-22 financial year, the Ministry of Commerce and Industry said on Wednesday. PMG is an unique institutional mechanism to facilitate resolution of issues in infrastructure projects with investments [...]
Citi joins list of foreign banks scaling down India ops under global strategy
New Delhi, Mar 30 (PTI) Citi Bank on Wednesday joined the list of foreign banks that have exited the retail banking business in India as the US-based banking giant announced selling its consumer banking portfolio to Axis Bank for an estimated Rs 12,325 crore. Global banking majors such as ANZ Grindlays, RBS, Commonwealth Bank of [...]
Sebi provides clarity on new norms for related party transactions
New Delhi, Mar 30 (PTI) Markets regulator Sebi on Wednesday provided clarity on the applicability of new norms for related party transactions, saying companies need not seek fresh approval from shareholders in case such deals were cleared prior to April 1. The watchdog has issued a circular on Related Party Transactions (RPTs) norms amid calls [...]
Citibank customers to continue availing rewards, privileges and offers: Axis Bank MD
Mumbai, Mar 30 (PTI) With Axis Bank taking over retail banking operations of Citibank in India, 30 lakh account and credit card holders of the US banking giant will have to indicate if they are willing to migrate their business to the new owner. If the customers agree to Axis managing their business, their accounts, [...]
Danfoss sets up hydrostatics production line in Pune to increase localisation levels
Chennai, Mar 30 (PTI): Danfoss Group company, Eaton Fluid Power, on Wednesday inaugurated a new hydrostatics production line at its facility in Pune aimed at increasing the localisation levels and cater to the demand in the local market. The state-of-the-art facility at its Pune Pimpri campus would help the customers to improve the response time [...]
Usha extends collaboration with Japanese Janome Corp for 20 yrs
New Delhi, Mar 30 (PTI) Consumer durables maker Usha International on Wednesday said it has signed an agreement with Japanese sewing machine company Janome Corporation, extending their collaboration for the next 20 years. Usha International and Janome Corporation had started their partnership in 1993 with the Indian firm marketing Janome machines in the domestic market. "This [...]
Sale of 20th tranche of electoral bonds to begin on Apr 1
New Delhi, Mar 30 (PTI) The government on Wednesday approved issuance of the 20th tranche of electoral bonds that will open for sale from April 1 to 10. Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding. However, Opposition [...]
Builder.ai raises $ 100 mn in funding round led by Insight Partners
New Delhi, Mar 30 (PTI) IT startup Builder.ai has raised USD 100 million (around Rs 750 crore) in a funding round led by New York-based global venture capital and private equity firm Insight Partners. The Series C round, which brings the company’s total funding to USD 195 million across three total rounds, includes participation from [...]
Tata Steel to acquire SFML’s ferro alloy assets in Odisha for Rs 155 cr
New Delhi, Mar 30 (PTI) Steel major Tata Steel on Wednesday said it will acquire ferro alloys producing assets of Odisha-based Stork Ferro and Mineral Industries for Rs 155 crore in an all-cash deal. In this regard, an Asset Transfer Agreement has been signed between the two companies on Wednesday, a regulatory filing said. Tata [...]
Seven banks to disburse Rs 1,500 cr for completion of stalled projects of Amrapali
New Delhi, Mar 30 (PTI) A consortium of seven banks will disburse Rs 1,500 crore loans to complete the construction of stalled projects of erstwhile Amrapali group, following a direction by the Supreme Court. The state-owned NBCC has undertaken the completion of many residential projects in Noida and Greater Noida under the aegis of Amrapali [...]
Manufacturing sector needs quality enhancement to become globally competitive: MSME minister
New Delhi, Mar 30 (PTI) India's manufacturing sector needs quality enhancement to become more competitive globally, MSME Minister Bhanu Pratap Singh said on Wednesday. Speaking at the PHDCCI 2nd International Conference on Defence & Security here, the minister said that there is a need to bring defence manufacturing in the chain of Make in India [...]
ONGC OFS: Institutional portion over-subscribed with Rs 4,854 cr bids
New Delhi, Mar 30 (PTI) The government's sale of 1.5 per cent stake in ONGC on Wednesday saw institutional buyers putting in bids worth Rs 4,854 crore -- three and half times their quota -- but the company's share took a beating on stock exchanges, falling 5.14 per cent and eroding shareholders' value. The government [...]
Telecom operators owe Rs 1.65 lakh cr to govt in AGR dues : Chauhan
New Delhi, Mar 30 (PTI) Telecom operators owe over Rs 1.65 lakh crore to the government in adjusted gross revenue up to financial year 2018-19, Parliament was informed on Wednesday. According to data shared by Minister of State for Communications Devusinh Chauhan, liability of telecom operators has increased compared to the previous order with calculation [...]
Godrej Properties buys 9-acre in Pune; eyes Rs 1,400 cr revenue from housing project
New Delhi, Mar 30 (PTI) Realty firm Godrej Properties Ltd on Wednesday said it has acquired a 9 acres land parcel in Pune to develop a housing project with an estimated revenue of Rs 1,400 crore. The project located at Pimpri-Chinchwad in Pune will have a developable potential of about 1.7 million square feet of [...]
RERA council to discuss structural safety of high-rise buildings on April 12
New Delhi, Mar 30 (PTI) In the wake of partial collapse of a residential tower in Gurugram, the Central Advisory Council (CAC), constituted under the RERA Act, 2016, will meet on April 12 to discuss measures to ensure structural safety in high-rise buildings and prevent loss of life as well as property, besides considering a [...]
Sebi issues timelines for rebalancing portfolios of mutual fund schemes
New Delhi, Mar 30 (PTI) Markets regulator Sebi on Wednesday came out with timelines for rebalancing of portfolios of mutual fund schemes in order to bring uniformity. Issuing a circular, the watchdog said the rebalancing period will be applicable in the event of deviation from mandated asset allocation mentioned in the Scheme Information Document (SID) [...]
NCLT orders insolvency proceedings against Santasha Real Estate
New Delhi, Mar 30 (PTI) The National Company Law Tribunal (NCLT) has ordered initiation of insolvency proceedings against realty firm Santasha Real Estate. The order came on a plea filed by Vani Advertising, an operational creditor to the company that has claimed a default of Rs 40.77 lakh. Admitting the plea, a two-member New Delhi [...]
PepsiCo India Through Its Brand Quaker and Partnership with Smile Foundation to Provide One Lakh Bowl of Nutritious Whole Grains
Special Initiative “Bowl of Hope” to mark Whole Grain Sampling Day 2022 launched New Delhi,India – Business Wire India • Bowl of Hope aims at creating awareness about whole grains and its importance in daily diets.• The initiative aligns with FSSAI’s Eat Right Movement.• Bowls of whole grains to be provided to underserved communities across [...]
Bharat Maa Shaheed Samman Trust Presents ‘The Buckingham Palace Trials’
An exemplary portrayal of every Indian’s dream to punish the criminals who bled India by forceful occupation under British rule. The play is enacted posthumously depicting Britain, being ruled over by India New Delhi, Delhi, India (NewsVoir) A patriotic evening complimented with a never seen before play “The Buckingham Palace Trials” was organized by Bharat [...]
Axis Bank buys Citi’s India retail business for Rs 12,325 cr
US bank Citigroup on Wednesday announced sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets. The deal, which is expected to close in the first half [...]
Technocrats Kohlhauer Plans to Install More Than 1 Lakh Sq. Metre of Noise Barriers Across India
Mumbai, Maharashtra, India – Business Wire India Mumbai based Technocrats Kohlhauer Infrastructure Pvt. Ltd. is a name synonymous with noise barriers. The company has been an innovator and pioneer in noise barrier technology and have installed more than 60,000 sq metre of noise barriers across India. In the financial year 22-23, the company plans to [...]
FII stock ownership plunges to 19.9%, value down to $582 bn YTD
After the record USD 23 billion of additional investments in the domestic equities in FY21, foreign funds have massively slashed their fresh exposure to the country to USD 3.7 billion in FY22, also pairing down their holdings in NSE500 to 19.9 per cent or worth USD 582 billion, down from their peak of 21.4 per [...]
DS Group’s Headquarters, A World Class Green Building in NCR
New Delhi, Delhi, India (NewsVoir) The DS Group Headquarters situated at NCR, houses the corporate office, an R&D centre and state-of-art manufacturing facilities for Confectionery, Flavours & Fragrances and Edible Gold & Silver embellishments. It has been awarded Leadership in Energy and Environmental Design (LEED) Platinum certification, under the USGBC (US Green Building Council) existing [...]
ONGC OFS: Institutional buyers portion over-subscribed; bids for shares worth Rs 4,854 cr
New Delhi, Mar 30 (PTI) The government's 1.5 per cent stake sale in ONGC witnessed a smooth start on Wednesday, with institutional buyers putting in bids worth Rs 4,854 crore and over-subscribing the portion reserved for them.The government is selling up to 1.5 per cent of its stake in the country's top oil and gas [...]
CredAble disburses Rs 22,500 cr working capital loans in FY22
New Delhi, Mar 30 (PTI) Working capital loan facilitating platform for small and medium businesses CredAble disbursed record USD 3 billion (Rs 22,500 crore) during the financial year 2021-22, and expects to double the amount in next fiscal on more customer acquisitions and high demand for short-term business loans, co-founder and CEO Nirav Choksi said. [...]
Games24x7 raises $75 million
New Delhi, Mar 30 (PTI) Gaming platform Games24x7 on Wednesday said it has raised USD 75 million (nearly Rs 570 crore) in funding led by Malabar Investments. Existing investors Tiger Global and Raine Group also participated in the latest funding round, the company said in a statement.The funds will be used to accelerate user growth, [...]
Generali becomes majority shareholder in Indian life lnsurance joint venture
New Delhi, Mar 30 (PTI) Italian financial services firm Generali on Wednesday said it has become the majority shareholder of the Indian life insurance joint venture following all the regulatory approval. The company has completed the acquisition of the entire stake of around 16 per cent held by Industrial Investment Trust Limited (IITL) in Future [...]
Axis Bank laps up Citigroup’s India business for Rs 12,325 cr
New Delhi, Mar 30 (PTI) Axis Bank on Wednesday announced the acquisition of Citigroup's India consumer banking business, including credit card, retail banking, consumer loan and wealth management, for Rs 12,325 crore.Axis Bank will acquire about 30 lakh customers of Citibank India and grow its credit card portfolio by 31 per cent.The deal will give [...]
V-Guard on expansion mode; expects 60% revenue from non-southern regions in 5-6 yrs
New Delhi, Mar 30 (PTI) V-Guard Industries plans to expand in northern, eastern and western regions of the country as it aims to garner over 60 per cent revenue from these regions in the next five-six years, a senior company official said on Wednesday.Currently, these regions contribute around 42 per cent of the business of [...]
Ind-Ra slashes FY23 GDP forecast to 7-7.2% citing Ukraine war
Mumbai, Mar 30 (PTI) India Ratings has lowered its GDP growth forecast for FY23 to 7-7.2 per cent, from 7.6 per cent earlier citing the rising uncertainty over Russia-Ukraine war and the resultant dampening of consumer sentiment. Since the duration of the war continues to be uncertain, in the first scenario crude oil prices could [...]
“SOS Nitelife” – “DESI HOMES REALTY ICON AWARDS – 2022” & “SOS NITELIFE EXCELLENCE AWARDS – 2022”, A Stupendous Success !!
Stalwarts from the Real Estate Industry and the Glitterati of Tinsel Town descended on “SOS Nitelife” - “Synergy Of Services Nitelife Private Limited”, as it hosted its first Edition of “DESI HOMES REALTY ICON AWARDS - 2022” & “SOS NITELIFE EXCELLENCE AWARDS – 2022”, on 25th March 2022’, at Hotel Taj Santacruz, Mumbai, India. Smt. [...]
BULLION CLOSING RATE
BULLION CLOSING RATE MUMBAI, MARCH 30 (PTI) MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 67063.00 67041.00 STANDARD GOLD (99.5) : 51216.00 51243.00 PURE GOLD (99.9) : 51422.00 51449.00 -------------------- PTI MUM SSBSSB SSB
FarMart raises USD 32 million
New Delhi, Mar 30 (PTI) Food supply startup FarMart on Wednesday said it has secured USD 32 million (over Rs 240 crore) funding in a round led by General Catalyst. Existing investors -- Matrix Partners India and Omidyar Network India -- also participated in the Series B round. Elluminate Capital acted as the exclusive financial [...]
Pandemic-related stress on unsecured loan assets over: HDFC Bank
The country's largest private sector lender HDFC Bank on Wednesday said the elevated stress on unsecured loan assets noticed during the COVID-19 pandemic is over, and the bank is upbeat about the segment now. The unsecured lending book for the bank includes credit cards and personal loans. According to HDFC Bank's country head for consumer [...]
CM Basavaraj Bommai Launches Invest Karnataka – Global Investors’ Meet 2022 in Bengaluru
Bengaluru, Karnataka, India (NewsVoir) • Global Investors Meet (GIM) from Nov 2nd- 4th November 2022 at Bengaluru Palace • Karnataka, a land of opportunities - aims to attract more investments and job creation - Minister for Large & Medium Industries, Murugesh R. Nirani • CM to invite PM Modi for the Invest Karnataka 2022 Chief [...]
NEWSALERT
Axis Bank acquires Citigroup's India consumer business in a Rs 12,325 crore deal: Statement: PTI DP ANZ DP BAL BAL BAL
LS approves accountancy bill; Sitharaman says changes will not impact autonomy of institutes
New Delhi, Mar 30 (PTI) Lok Sabha on Wednesday approved a bill to revamp the functioning of the institutes of chartered accountants, cost accountants and company secretaries, with Union minister Nirmala Sitharaman asserting that the changes will not impact the autonomy of these bodies. The Chartered Accountants, Cost and Works Accountants and Company Secretaries (Amendment) [...]
PGInvIT secures Rs 700 cr credit facility from HDFC Bank
New Delhi, Mar 30 (PTI) Infrastructure investment trust PGInvIT has inked an agreement with HDFC Bank to secure a credit facility of Rs 700 crore for part financing the funding requirements for its acquisitions."This is to inform that pursuant to the approval of the Board of Directors of PowerGrid Unchahar Transmission Limited (PUTL), the Investment [...]
Par panel expresses concern on high spectrum price, delay in 5G rollout
New Delhi, Mar 30 (PTI) Expressing concern over high spectrum price, a Parliamentary Panel on Wednesday asked the government to pay due attention to the issues raised by telecom operators and take steps for early rollout of the 5G services.The Standing Committee on Communications and Information Technology, chaired by Lok Sabha MP Shashi Tharoor, in [...]
Karnataka Bank raises Rs 300 cr through bonds
New Delhi, Mar 30 (PTI) Private sector lender Karnataka Bank on Wednesday said it has raised Rs 300 crore by issuing bonds on private placement basis. The committee of directors of board of the bank, at its meeting held on March 30, 2022, has approved the allotment of unsecured, subordinated, redeemable non-convertible, fully paid-up Basel [...]
Trimble inaugurates new R&D centre in Chennai
Chennai, Mar 30 (PTI): Industrial technology company Trimble on Wednesday said it has set up its new research and development centre in the city --- the second largest facility outside the United States. The Centre at the Varalakshmi Information Technology Park, on the Old Mahabalipuram Road (popularly known as IT Corridor) is spread across three [...]
Invesco Mutual Fund unveils Invesco EQQQ Nasdaq-100 ETF Fund of Fund
March 30, 2022: Invesco Mutual Fund announces the launch of its new fund Invesco India – Invesco EQQQ Nasdaq-100 ETF Fund of Fund (An open-ended fund of fund scheme investing in Invesco EQQQ Nasdaq-100 UCITS ETF). The fund will invest 95% of its net assets in the Invesco EQQQ Nasdaq UCITS ETF fund, which seeks [...]
Brokerages bullish on this Rakesh Jhunjhunwala stock; Should you buy it?
The scare of the Covid-19 pandemic is reducing and the hospitality sector is recovering. There was a strong domestic demand and foreign tourists returned after two muted years. Indian Hotels Company (IHCL) now has strong room bookings till May 2022. This Rakesh Jhunjhunwala portfolio stock made a fresh all-time high of ₹ 245.45 on Wednesday. [...]
ABB Innovation Center (AIC), One of Its Largest Globally, Inaugurated in India
Bengaluru, Karnataka, India – Business Wire India • AIC hosts 2500 technologists in a new, AI-enabled 8-floors facility in Bengaluru • It caters to ABB’s global and local network in more than 50 geographies • The team focuses on end-to-end competence in R&D, engineering and operations, digital technologies, and services spanning the entire lifecycle management [...]
National Yogasana Sports Federation aims to make Yogasana into a global sport
- Yogasana Senior National Championships kicks off in Ahmedabad today, 169 athletes vie for medals - Gujarat set to emerge as a global stage for nurturing Yogasana as a sport AHMEDABAD, India, March 30, 2022 /PRNewswire/ -- The first-ever Yogasana Senior National Championships kicks off today in Ahmedabad in a gala opening ceremony. Over 169 [...]
Non-linking of PAN with Aadhaar by March 31 to attract penalty of Rs 500-1,000
Taxpayers not linking PAN with Aadhaar by March 31 would be required to pay a penalty ranging from Rs 500 to Rs 1,000, the income tax department has said. The last date for linking a Permanent Account Number (PAN) with biometric Aadhaar is March 31, 2022. Not adhering to the deadline will lead to PAN [...]
Consumers expect to feel bite of rising energy prices; want to shift from fossil fuels: Survey
New Delhi, Mar 30 (PTI) A majority of consumers worldwide expect their overall spending power to be significantly impacted by rising energy prices, while India tops the list where climate change policies have been cited as the main cause of the recent price rises, a global survey showed on Wednesday.The World Economic Forum-Ipsos survey also [...]
Jammu and Kashmir Bank raises Rs 360 cr through bonds
New Delhi, Mar 30 (PTI) Jammu and Kashmir Bank on Wednesday said it has raised Rs 360 crore by issuing bonds. The capital issuance committee of the board of directors, in its meeting held on March 30, 2022, approved the bond issue, the bank said in a regulatory filing. The committee considered and approved allotment [...]
Cabinet clears Rs 6,062 cr World Bank-assisted programme for MSMEs
New Delhi, Mar 30 (PTI) The Union Cabinet on Wednesday approved a World Bank-assisted Rs 6,062 crore funding programme for the small and medium businesses to help improve their access to market and credit. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the Rs 6,062.45 crore or USD 808 [...]
Servotech appoints Deepak Kumar as Vice President of EV charger vertical
New Delhi, Mar 30 (PTI) Servotech Power Systems has appointed Deepak Kumar as the vice president for its EV charger vertical. In this role, Kumar will lead the end-to-end supply chain and operations of the EV charger vertical, the company said in a statement on Wednesday. Kumar has an experience of two decades in the [...]
US President Biden to host special ASEAN summit; set to discuss Indo-Pacific strategy
Washington, Mar 30 (PTI) US President Joe Biden has announced that he will host a special summit of the leaders of the Association of Southeast Asian countries here this spring, indicating the importance he attaches to his Indo-Pacific policy amidst China's aggressive moves in the strategically vital region. Biden made the announcement during a joint [...]
COMMODITY PRICES
SLUG : COMMODITY PRICES BCM : ESPL/ECO/COM MUMBAI, MAR 30 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST. COPPER :- COPPER CABEL SCRAP 804.00 COPPER HEAVY SCRAPS 793.00 COPPER ARMATURE (CREDIT) 780.00 COPPER UTENSILS SCRAP 715.00 CC ROD 850.00 CC ROD (RECYCLED) 806.00 BRASS :- BRASS SHEET CUTTING 575.00 BRASS UTENSIL SCRAP 541.00 BRASS HONEY 517.00 [...]
Gadkari rides to Parliament in hydrogen-powered car
New Delhi, Mar 30 (PTI) Union minister Nitin Gadkari, who has been pushing for the use of alternative fuel-powered vehicles, on Wednesday rode to Parliament in his new hydrogen-based electric car. Demonstrating the vehicle powered by 'green hydrogen' outside his residence here, Gadkari talked about the need to spread awareness about green Hydrogen, FCEV technology [...]
Tata AIA survey shows Indian Millennials are financially prudent, however need to be guided when it comes to life insurance
• Most of the respondents across the age band 22 – 35 years continued to save even amid the uncertainties introduced by COVID-19.• When it came to life insurance, those in the younger age band i.e., 22 – 25 showed low awareness.• Amid the aware and invested in life insurance, 41% were not sure if [...]
The Pandemic Has Accelerated Growth in the Digital Space, Says Siddharth Mehta, Former Director, IL&FS
Mumbai, Maharashtra, India – Business Wire India Siddharth Mehta IL&FS Former Director and currently Founder and CIO of Bay Capital believes that "Businesses will need to think ‘digital’ if they are to compete and grow over the next decade." Siddharth Mehta is very excited about investing in the Indian market rather than any other emerging [...]
OIL&SEEDS PRICES
MARCH 30,2022 MUMBAI, (PTI) OILS (per 10 Kgs) DEOILED CAKES (per M.T.) G.N.Extr.45% 41000.00 Kardi Extr - Sesame Extr - Cottonseed Extr - - Undec Cottonseed 37500.00 Rice Bran Extr. - Sunflower Extr. 29000.00 Rapeseed Extr. - Soyameal 48% 64174.00 Castor Extr. 11250.00 OIL SEEDS (per 100 Kgs) Gr. Kernel 8100.00 Gr. Bolds 60/70 8900.00 [...]
LS approves bill to amend laws governing chartered, cost accountants, company secretaries
New Delhi, Mar 30 (PTI) Lok Sabha on Wednesday cleared a bill to amend the laws governing chartered accountants, cost accountants and company secretaries providing for revamping the disciplinary committees of the respective professional institutes. Once the amendments come into force, the presiding officer of the Institute of Chartered Accountants of India (ICAI) will be [...]
Govt hikes DA by 3% for central govt employees; new rate effective from Jan 1 this year
The Union Cabinet on Wednesday hiked Dearness Allowance (DA) and Dearness Relief (DR) by 3 per cent to 34 per cent to compensate for the price rise, benefitting over 1.16 crore central government employees and pensioners. The additional instalment will be effective from January 1, 2022, said an official release after the Cabinet meeting. "The [...]
Over 1.58 lakh two-wheeler road accidents occurred in 2020
New Delhi, Mar 30 (PTI) As many as 1,58,964 two-wheeler road accidents occurred in 2020, causing 56,873 deaths, Parliament was informed on Wednesday.In a written reply to the Rajya Sabha, Minister of Road Transport and Highways Nitin Gadkari said that as many as 56,136 people were killed in road accidents due to two-wheeler accidents in 2019, [...]
Govt does not intend to make social media users’ verification mandatory: Minister
The government does not intend to make social media users' verification mandatory in view of the privacy issue, Minister of State for Electronic and IT Rajeev Chandrasekhar told Lok Sabha on Wednesday. To ensure that internet is open, safe, trusted and accountable to all users, the government notified the Information Technology (Intermediary Guidelines and Digital [...]
Cabinet: Three-year extension for 10 mega power projects to submit required documents
New Delhi, Mar 30 (PTI) The Union Cabinet on Wednesday extended the time limit for 10 power projects by 36 months to furnish documents required to become certified 'mega' projects so as to avail tax benefits and bid for tenders or supply of electricity. The extension of time period will enable developers to competitively bid [...]
PEPPER COPRA PRICES
MUM PEPPER COPRA CLOSING RATE MUMBAI, MAR 30 (PTI) Mumbai :- PEPPER COPRA RATES :- BLACK PEPPER READY 560 / 620 GINGER BLEACHED -- GINGER UNBLEACHED 155 COPRA OFFICE ALAPUZHA 9800 COPRA OFFICE KOZIZODE 9500 COPRA RAJAPUR MUMBAI 18500 COPRA EDIBLE MUMBAI 13000 COCHIN COCONUT OIL ---- COCONUT OIL MUMBAI 1750 T.P ------------------ PTI MUM [...]
HUL’s Dapada factory joins World Economic Forum’s Global Lighthouse Network
New Delhi, Mar 30 (PTI) FMCG major HUL on Wednesday said its plant based at Dapada in Dadra Nagar Haveli has become the first consumer goods factory in India to be recognised as an 'Advanced 4th Industrial Revolution Lighthouse'. The Global Lighthouse Network is a community of manufacturing sites recognised by the World Economic Forum [...]
Gold jewellery retailers’ revenue may rise 12-15% in FY23: Crisil
New Delhi, Mar 30 (PTI) The revenue of gold jewellery retailers is likely to increase by 12-15 per cent in 2022-23 on steady demand and sustained high prices of gold, rating agency Crisil said on Wednesday. During 2021-22, revenue of gold jewellery retailers is expected to rise 20-22 per cent albeit on a lower base [...]
World’s largest peace dome, Shri Tukaram Vishwashanti Dome to be inaugurated on April 3rd, to witness most influential personalities as part of the opening ceremony
Dedicated to world peace, tolerance and humanity, Philosopher Saint Shri Dnyaneshwar - Shri Tukaram Vishwashanti Dome is a wonderful scientific laboratory of spiritual sciences, with one of the finest statues of saints, scientists and philosophers in human history. The dome is 160 feet in diameter and 263 feet in height and has 24 pillars. Certified [...]
HarperCollins announces the release of CHINESE SPIES From Chairman Mao to Xi Jinping by Roger Faligot
NEW DELHI, March 30, 2022 /PRNewswire/ -- A book that gives a credible, detailed, and accessible account of Chinese intelligence agencies, about which next to nothing is known. Non-fiction/ Paperback// INR 699 Releasing on 1st April 2022 | Pre-order here: https://amzn.to/3JO4xQH " There is enough mystery, intrigue, and history in this book to make it [...]
NMIMS invites alumni to showcase innovative and contemporary Tech based business concepts developed by MBA Tech students at ‘Concept Show – 2022’
MUMBAI, India, March 30, 2022 /PRNewswire/ -- SVKM's Narsee Monjee Institute of Management Studies (NMIMS) Deemed-to-be University, an academic institute with a legacy of 41 years, organized the unique event 'Concept Show – 2022', for students to showcase their innovative, contemporary, and extra-ordinary Technology based business concepts. These include product innovations, service innovations and some [...]
Aglowid IT Solutions Receives Excellence in Information Technology Award at 14th World Innovation Congress 2022
Ahmedabad, Gujarat, India – Business Wire India Aglowid IT Solutions Pvt. Ltd. bagged the “Excellence in Information Technology” Award at the World Innovation Congress held at Taj Lands End, Mumbai, India. This award signifies the perseverance and presence of the company providing unmatched client experience in the fields of mobile, web, and other Managed IT [...]
Guar gum futures gain on spot demand
New Delhi, Mar 30 (PTI) Guar gum prices on Wednesday gained Rs 41 to Rs 12,075 per five quintals in the futures trade as speculators increased their holdings on spot demand. On the National Commodity and Derivatives Exchange, guar gum contracts for April delivery traded higher by 0.34 per cent or Rs 41 to Rs 12,075 [...]
Guar seed futures rise on fresh bets
New Delhi, Mar 30 (PTI) Guar seed prices on Wednesday rose by Rs 34 to Rs 6,387 per 10 quintals in the futures trade after speculators increased their positions driven by a firm trend at spot market. On the National Commodity and Derivatives Exchange, guar seed for April contracts increased by Rs 34 or 0.54 [...]
Sterling and Wilson appoints Cherag Sarosh Balsara as additional director
New Delhi, Mar 30 (PTI) Sterling and Wilson Solar on Wednesday said it has appointed Cherag Sarosh Balsara as an additional director and designated him as a non-executive and independent director of the company.His appointment is for a term of 5 years, commencing from March 29, 2022, to March 28, 2027, Sterling and Wilson Solar [...]
ABB inaugurates innovation centre in Bengaluru
New Delhi, Mar 30 (PTI) ABB on Wednesday inaugurated a new R&D and engineering facility ABB Innovation Center (AIC) in Bengaluru.The state-of-the-art facility is one of ABB’s largest globally, and serves as the backbone for technology developments to accelerate innovation, a company statement said.The centre houses 2,500 diverse technologists, including engineers, principal and data scientists, [...]
Crude oil futures gain on spot demand
New Delhi, Mar 30 (PTI) Crude oil prices on Wednesday rose by Rs 156 to Rs 8,066 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 156 or 1.97 per cent to Rs 8,066 per barrel in 6,130 [...]
Hafele’s Latest Premium Cooking Appliances Range, ZETA Series Hobs Introduced
Bangalore, Karnataka, India (NewsVoir) Appliances should not only meet your functional requirements but also make you fall in love with your chores. The ZETA Series Hobs from Hafele’s Premium Appliances Range, promise an exhilarating cooking experience which will have you reaching for your hob again and again! The Direct Flame technology in the ZETA hobs [...]
Honda India Power forays into marine outboard business
New Delhi, Mar 30 (PTI) Honda India Power Products on Wednesday announced its foray into the marine outboard business and aims to corner around 10 per cent market share in the 4-stroke engine segment in the first three years.From April, the company will introduce Honda 4-stroke marine outboard motors range for boat operators targeting various [...]
Sun Pharma to launch Vortioxetine under exclusive patent licence from Lundbeck
New Delhi, Mar 30 (PTI) Sun Pharmaceutical Industries on Wednesday said it has inked a licensing pact with H Lundbeck to market and distribute Vortioxetine in India under the brand name Vortidif.One of the wholly-owned subsidiaries of the company has signed licensing pact with Lundbeck for the anti-depressant medication approved to treat the major depressive [...]
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