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Cable stock jumps 18% after reporting 173% YoY increase in net profits
Cable stock engaged in the manufacturing of power infra cables that include LV, HV, MV, Power control & instrumentation cables, and signaling cables, jumped 18 percent in the day’s trade following robust Q2FY25 results with a 173 percent jump in Net Profits. Price Action With a market capitalization of Rs. 1,554 Crores, the shares of [...]
Stock hits 5% upper circuit after it sets record date for 1:10 stock split
During Wednesday’s trading session, the shares of one of India’s premier financial institutions hit a 5 percent circuit and reached a new 52-week high at Rs. 1,926.65 on BSE, after the company fixed record date for a stock split in a 1:10 ratio. With a market cap of Rs. 2,500.8 crores, the shares of Systematix [...]
Will Nifty 50 cross 27,000 this year? Here’s what analysts have to say
In Wednesday's trading session, Nifty 50 shares attracted investor interest following a downgrade by Goldman Sachs. The firm has adopted a cautious outlook on Indian stocks, reducing its rating to 'Neutral' amid concerns regarding growth. Price Movement On Wednesday morning, the Nifty 50 index opened modestly at 24,378.15 before climbing to an intra-day high of [...]
PSU stock jumps 14% after company’s net profit increases by 72% YoY
PSU stock engaged in exploration, mining, and mineral processing along with the generation of power jumped upto 14 percent in the day’s trade upon declaring robust Q2FY25 results with a 72 percent jump in Net Profits. Price Action With a market capitalization of Rs. 11,514 Crores, the shares of Gujarat Mineral Development Corporation Limited were [...]
IT stock jumps 12% after reporting 68% QoQ increase in net profits
During Wednesday’s trading session, the shares of a leading global IT solutions organisation surged nearly 12.3 percent to hit a new 52-week high at Rs. 7,632.75 on BSE, after the company reported Q2 FY25 financial results with a rise in net profit by 68 percent QoQ and 24 percent YoY. With a market cap of [...]
Dolly Khanna stock falls 17% after reporting ₹633.69 Cr loss against profit of ₹1,195 Cr year ago
This small-cap stock is in the business of refining crude oil to produce and supply various petroleum products fell almost 17 percent following a 27.89 percent year-on-year revenue decline for Q2 FY25. Share price variations: With a market capitalization of Rs. 11,675.40 crores, Chennai Petroleum Corporation Ltd. fell to an intraday low of Rs. 752.10 [...]
Largecap stock jumps 12% after NPCI grants approval to onboard new UPI users
Shares of this fintech company primarily engaged in providing digital payment services and financial solutions surged over 12 percent on Wednesday morning trade after receiving NPCI approval to onboard new UPI users. Price Movement In Wednesday's trading session, share price of One 97 Communications Ltd (OCL), parent company of Paytm, reached an intraday high of [...]
Stock jumps 4% after receiving contract for AI powered services from Fortune 500
The shares of the leading modernization engineering company gained up to 4 percent after the company bagged a multiyear contract from a Fortune 500 manufacturing company. With a market capitalization of Rs 17,021.79 crore, the shares of Sonata Software Ltd were trading at Rs 607.00 per share, increasing around 3 percent as compared to the [...]
Ambani stock hits 5% upper circuit after announcement to setup Defence City worth ₹10,000 Cr
Ambani Group stock active in the energy sector, development of infrastructure projects and interests in defence manufacturing hit a 5 percent upper circuit in the day’s trade following plans of setting up Dhirubhai Ambani Defence City with an investment of Rs. 10,000 Crores. Price Action With a market capitalization of Rs. 10,574 Crores, the shares [...]
Stock under ₹40 jumps 5% after receiving order worth ₹450 Cr from Adani Energy Solutions
During Wednesday’s trading session, the shares of a company engaged in electricity, transmission, distribution and substation surged nearly 5 percent to Rs. 31.9 on BSE, after the company announced receiving an order worth Rs. 450 crores from Adani Energy Solutions Limited. With a market cap of Rs. 2,769 crores, at 12:00 p.m., the shares of [...]
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Stocks to Buy: 6 Stocks to buy for an upside of 40%
The Indian Benchmark Indices closed in Green on Friday with the Sensex gaining around 218.14 points ending the week at 81,224.75 and the Nifty 50 index gaining around 113.55 points ending the week at 24,863.40. In the last five trading sessions, the Sensex declined by approximately 0.75 percent while the Nifty 50 index declined by [...]
₹2.23 to ₹1,829: NBFC stock turns ₹10,000 to ₹82 Lakhs in just 5 years
During the trading session of Friday, the shares of a registered NBFC with core business operations focused on investing and lending slumped nearly 5 percent to hit an intraday low at Rs. 1,758.1 on BSE. With a market capitalisation of Rs. 31,068 crores, the shares of Authum Investment & Infrastructure Limited opened at Rs. 1,849, [...]
Stocks to Buy: 6 Stocks to buy now for an upside of 50%
The Indian Benchmark Indices closed in red on Friday with the Sensex losing around 230.05 points ending the week at 81,381.36 and the Nifty 50 index losing around 34.20 points ending the week at 24,964.25. In the last five trading sessions, the Sensex declined by approximately 0.73 percent while the Nifty 50 index declined by [...]
₹430 to ₹14,136: Pharma stock turns ₹10,000 to ₹3.29 Lakhs in just 5 years
According to business standards, the Indian pharmaceutical industry is a global powerhouse, projected to reach $130 billion by 2030, growing at over 10% annually. Currently valued at $50 billion, India supplies 20% of the world's generic medicines and accounts for 60% of global vaccine production, cementing its role as the "pharmacy of the world. With [...]
Stocks that may get affected by Israel-Iran war
India is Israel’s 2nd trading partner in Asia and the 9th largest globally. The bilateral trade has been majorly dominated by diamonds and chemicals. However, recent years have seen an increase in trade in areas such as electronic machinery and high-tech products; medical equipment; communications systems, etc. The two nations celebrated 30 years of the [...]
5 Stocks that supply defence equipments to Israel to keep an eye on
The geopolitical tensions involving Israel, Iran, and Gaza are characterized by Iran's animosity toward Israel and its support for militant groups like Hamas and Hezbollah, which engage in hostilities against Israel. This led to airstrikes, military & political outrage, loss of life, and more leading to fear of global war among other nations. Listed below [...]
Latest Market News
SpazeOne launches its first co-working centre in Kerala
Kochi, Mar 20 (PTI) Catering to aspirations of the new crop of employees and employers, especially in the post-pandemic phase, leading co-working space provider SpazeOne has launched its first centre in Kerala at a mall here. The co-working centre that has come up in a 5,000 sq ft space at Abad Nucleus Mall in Maradu [...]
Maize exports rise 28.5 pc to USD 816.31 mn in Apr-Jan FY22
New Delhi, Mar 20 (PTI) Maize exports increased by over 28.5 per cent to USD 816.31 million during April-January this fiscal, against USD 634.85 million in the same period last financial year, the commerce ministry said on Sunday.Neighbouring countries like Bangladesh and Nepal are the major importers of maize from India, it added.Bangladesh has imported [...]
Startups get up to 10 yrs for converting debt investment into equity
New Delhi, Mar 20 (PTI) The government has extended the timeline up to ten years for startups to convert debt investments made in the company into equity shares, a decision which is likely to give a relief to budding entrepreneurs to deal with the impact of Covid-19 pandemic, according to a press note of the [...]
31 pc of total office spaces in top 6 cities certified as green buildings: Report
New Delhi, Mar 20 (PTI) Nearly one-third of total office spaces in six major cities have been certified as green buildings, as real estate developers are focusing more on sustainability aspects in their projects, according to CBRE.In its report 'Indian Real Estate's ESG (environmental, social and governance) Landscape and its Progress to a Sustainable Future', [...]
Stamp duty, registration fee mop-up crosses Rs 1 lakh cr in 8 months of FY22: Report
Led by Maharashtra, the cumulative revenue collection from stamp duty and registration fee of all the states jumped to Rs 1,00,100 crore for the first eight months of the current fiscal year, which for the entire FY21 was Rs 1,27,700 crore, according to a report. An analysis of state-wise data by Motilal Oswal Financial Services [...]
India-Abu Dhabi connection solidifying by the minute: Hans Fraikin of Abu Dhabi Film Commission
Abu Dhabi, Mar 20 (PTI) International experience is one of the best ways to develop an understanding of diverse cultures, said Hans Fraikin, Film & TV Commissioner, Abu Dhabi Film Commission (ADFC), urging Indian filmmakers to make more films in the city.Abu Dhabi has already served as a location hub for several Indian films such [...]
BSNL’s service revenue seen at Rs 17,000 cr in FY22; says confident of defending turf with quality 4G services
New Delhi, Mar 20 (PTI) Bharat Sanchar Nigam expects over Rs 17,000 crore revenue from services in FY22, a tad lower than the previous fiscal, mainly due to the removal of call connect charges that used to bring in additional inflows, according to its Chairman and Managing Director PK Purwar.Purwar asserted that the state-owned telecom [...]
Diesel price for bulk users hiked Rs 25/ltr; pvt retailers stare closure
New Delhi, Mar 20 (PTI) The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices, but retail rates at petrol pumps remain unchanged, sources said. Petrol pump sales have jumped by a fifth this month [...]
Working to improve tax literacy in country for widening taxpayer net: CBDT chairman
New Delhi, Mar 20 (PTI) The Income Tax department is working to improve the "abysmally poor" tax literacy in the country so that the number of tax paying people and entities can be increased leading to enhanced collections, CBDT Chairman J B Mohapatra has said.He said the direct tax establishment -- the government authority that [...]
How ‘Tiger Zinda Hai’ set in Abu Dhabi was transformed into Lucknow for ‘Vikram Vedha’ remake
Abu Dhabi, Mar 20 (PTI) Almost a month before the Abu Dhabi schedule of the upcoming Bollywood film "Vikram Vedha", the team of the movie travelled to the city here to put together a set that resembles the streets of Lucknow, the capital of India's most popular state Uttar Pradesh where the film is based.The [...]
Japan’s Suzuki to invest Rs 10,445 cr for local manufacturing of Electric Vehicles, Batteries in Gujarat
Japanese automaker Suzuki Motor Corporation on Sunday said it will invest around 150 billion yen (about Rs 10,445 crore) by 2026, for local manufacturing of Battery Electric Vehicles (BEV) and BEV batteries in Gujarat. The company has signed a Memorandum of Understanding (MoU) to this effect with the Gujarat government. It was signed "on March [...]
Income Tax department detects Rs 224 Cr black income after raids on Maharashtra-based Start-up Group
The Income Tax department has detected undisclosed income of about Rs 224 crore after it recently raided a unicorn start-up group based in Pune and Thane in Maharashtra, the CBDT said on Sunday. The searches were carried out on March 9 at 23 premises in Maharashtra, Karnataka, Andhra Pradesh, Uttar Pradesh and Madhya Pradesh. The [...]
Huge expenditure on welfare schemes by Modi govt hitting public finances: Sinha
New Delhi, Mar 20 (PTI) Former finance minister Yashwant Sinha on Sunday said that huge expenditure on welfare schemes by the Modi government has severely impacted the public finances which are currently in a mess with fiscal deficit touching abnormally high levels. Sinha in an interview with PTI said the shocking thing is nobody seems [...]
India-Abu Dhabi connection solidifying by the minute: Abu Dhabi Film Commisioner
Abu Dhabi, Mar 20 (PTI) International experience is one of the best ways to develop an understanding of diverse cultures, said Hans Fraikin, Film & TV Commissioner, Abu Dhabi Film Commission (ADFC), urging Indian filmmakers to make more films in the city.Abu Dhabi has already served as a location hub for several Indian films such [...]
India on track to become Herbalife Nutrition’s largest market worldwide: CEO John O Agwunobi
New Delhi, Mar 20 (PTI) Direct selling nutrition firm Herbalife Nutrition expects India to become its top market globally going forward, superseding the United States, according to the company's global CEO John O Agwunobi. With the company clocking double-digit volume growth in the last five years in India, where it is primarily present in tier [...]
Startups get up to 10 yrs for converting debt investment into equity
New Delhi, Mar 20 (PTI) The government has extended the timeline up to ten years for startups to convert debt investments made in the company into equity shares, a decision which is likely to give a relief to budding entrepreneurs to deal with the impact of Covid-19 pandemic, according to a press note of the [...]
Startups get up to 10 yrs for converting debt investment into equity
New Delhi, Mar 20 (PTI) The government has extended the timeline up to ten years for startups to convert debt investments made in the company into equity shares, a decision which is likely to give a relief to budding entrepreneurs to deal with the impact of Covid-19 pandemic, according to a press note of the [...]
Startups get up to 10 yrs for converting debt investment into equity
New Delhi, Mar 20 (PTI) The government has extended the timeline up to ten years for startups to convert debt investments made in the company into equity shares, a decision which is likely to give a relief to budding entrepreneurs to deal with the impact of Covid-19 pandemic, according to a press note of the [...]
Lexus gears up to drive in EVs, consolidate sales infra in India
New Delhi, Mar 20 (PTI) Having established its presence in the country, luxury carmaker Lexus is now looking to chart its next phase of growth in India as it looks to consolidate sales network and drive in new models, including fully electric cars in the country, according to a top company official. The company, which [...]
Auto Expo to be held from January 13-18 next year
New Delhi, Mar 20 (PTI) The next edition of the country's leading automobile show, the Auto Expo, will be held from January 13-18 next year, having been cancelled this year due to the COVID-19 pandemic. The last edition of the biennial automobile show took place in February 2020 amid fears of the spread of the [...]
Domestic solar equipment makers running plants at 30% capacity; reforms, tariff safeguards needed
New Delhi, Mar 20 (PTI) Industry body All India Solar Industries Association (AISIA) has urged Power and New & Renewable Energy Minister R K Singh that structural safeguards and tariff-based barriers are needed for domestic manufacturing to gain a foothold and establish itself. The body highlighted that the (solar equipment) "domestic manufacturers run their plants [...]
Auto Expo to be held from January 13-18 next year
New Delhi, Mar 20 (PTI) The next edition of the country's leading automobile show, the Auto Expo, will be held from January 13-18 next year, having been cancelled this year due to the COVID-19 pandemic. The last edition of the biennial automobile show took place in February 2020 amid fears of the spread of the [...]
Auto Expo to be held from January 13-18 next year
New Delhi, Mar 20 (PTI) The next edition of the country's leading automobile show, the Auto Expo, will be held from January 13-18 next year, having been cancelled this year due to the COVID-19 pandemic. The last edition of the biennial automobile show took place in February 2020 amid fears of the spread of the [...]
Gold ETFs log Rs 248-cr outflow in Feb as investors prefer equity funds
New Delhi, Mar 20 (PTI) Gold exchange traded funds (ETFs) witnessed a net outflow of Rs 248 crore in February, making it the second consecutive month of withdrawals as investors preferred equities over other segments on record SIP flows. Net outflows from the gold ETFs were at Rs 452 crore in the month of January. [...]
NEWSALERT
Suzuki Motor Corp to invest Rs 10,445 cr for local manufacturing of EVs, batteries in India, signs MoU with Gujarat govt: Co Statement. PTI RKL DRR DRR
India, Japan to collaborate on EVs, hydrogen
New Delhi, Mar 19 (PTI) India and Japan on Saturday agreed to extend clean energy partnership to cover EVs, battery storages and green hydrogen as the two Asian economic powerhouse pivot net zero carbon emission pathways. A India-Japan Clean Energy Partnership statement was issued, detailing areas of cooperation, after Japanese Prime Minister Kishida Fumio met [...]
NMDC, IIT-Kharagpur ink pact for drone-based mineral exploration
New Delhi, Mar 19 (PTI) NMDC on Saturday said it has signed a pact with IIT-Kharagpur for exploration of minerals using drones. The MoU for 'drone-based mineral exploration' was signed virtually by the senior officials of NMDC and professors of IIT Kharagpur, the miner said in a statement. NMDC, under the Ministry of Steel, is [...]
TN agri budget: SIMA welcomes allocation for boosting cotton yield
Coimbatore, Mar 19 (PTI) The Southern India Mills' Association (SIMA) on Saturday thanked the Tamil Nadu government for allocating Rs 15.32 crore in the budget to enhance cotton yield. In a statement, SIMA Chairman Ravi Sam said the average cotton yield per hectare in the state is around 585 kg as against the world average [...]
Future group firms to convene shareholder, creditors meeting in Apr
New Delhi, Mar 19 (PTI) Listed companies of the Kishore Biyani-led Future group on Saturday informed exchanges about meetings of their respective shareholders and creditors being convened on April 20 and 21 to get their approval for the Rs 24,713-crore deal with Reliance Retail. Listed entities, including Future Enterprises Ltd, Future Retail Ltd, Future Consumer [...]
Agri budget would make TN top farming, processed food producer: FIEO
Chennai, Mar 19 (PTI) The agriculture budget presented by Tamil Nadu government on Saturday would go a long way in bringing about more profitability in farming and making Tamil Nadu as a top agriculture and processed food producer in the country, a top official of Federation of Indian Export Organisations said. FIEO President A Sakthivel [...]
Dodla Dairy acquires Krishna Milk for Rs 50 cr
New Delhi, Mar 19 (PTI) Dodla Dairy Ltd on Saturday said it has acquired Karnataka-based Sri Krishna Milks Pvt Ltd for Rs 50 crore to expand its business.In a regulatory filing, Dodla Dairy informed that the company has executed an agreement with Sri Krishna Milks Pvt Ltd for the acquisition of business as a "going [...]
BGE-COMML-BULLION-CLOSE
Bengaluru, Mar 19 (PTI) Closing bullion rates on Saturday: Standard gold [99.5 purity] -- Rs 52,900 per 10 grams Ornament gold -- Rs 4,933 per gram Silverspot [.999 fineness] -- Rs 69,500 per kg. PTI DVR HDA HDA
Smartr Logistics plans to enter third-party logistics biz; to set up 15 fulfillment centres
Mumbai, Mar 19 (PTI) Smartr Logistics is looking to enter into the fast-growing third-party logistics (3PL) business from next year and plans to set up 15 fulfillment centres as well as some big warehousing facilities at select locations, company's MD and CEO, Yogesh Dhingra has said. Launched last year, the logistics tech-startup also plans to [...]
BIS to intensify activities related to promotion of quality standards
New Delhi, Mar 19 (PTI) The Bureau of Indian Standards (BIS) will increase its activities to promote its various quality norms through engagement organisations and NGOs. As a part of Azadi ka Amrit Mahotsav 'Iconic Week' celebrations, a webinar was organized at BIS headquarters on 'Engagement of Consumer Organization & NGOs in Standards Promotion Activities [...]
Japan to offer India USD 42bn in investments during Kishida’s visit: Report
Tokyo, Mar 19 (PTI) Japanese Prime Minister Fumio Kishida is expected to announce a plan to invest 5 trillion yen (USD 42 billion) in India over the next five years during his visit to the country on Saturday, according to a media report.The 5 trillion yen goal exceeds the 3.5 trillion yen in investment and [...]
Want audience to get my story through visuals, not dialogue or subtitles: SS Rajamouli
Dubai, Mar 19 (PTI) Dialogues and subtitles are just mediums of communication, said director SS Rajamouli, adding he would rather want the audience to understand the story of his films through visuals.The director, whose latest period action drama "RRR" is slated to be released on March 25, was speaking at a press conference on Friday [...]
Reforms in I-T dept, ‘strengthening’ of economy led to record tax collections: CBDT chairman
New Delhi, Mar 19 (PTI) Reforms undertaken by the government within the Income Tax department and the "strengthening" of the Indian economy are among the major factors that led to the highest-ever direct tax collections in the country, which stand at over Rs 13.63 lakh crore, CBDT Chairman J B Mohapatra has said.He said apprehensions [...]
Battered but not broken: how global trade is responding to Russia’s invasion of Ukraine
Perth, Mar 19 (The Conversation) Russia's first McDonald's store opened in 1990, just months after the fall of the Berlin Wall. It was a potent symbol that the Cold War was ending and a great ideological wound healing. Now every McDonald's in Russia is closed, as nations and corporations reduce, suspend or sever ties in [...]
Red dirt, yellow sun, green steel: how Australia could benefit from a global shift to emissions-free steel
Canberra, Mar 19 (The Conversation) Australia is the world's number one exporter of both iron ore and metallurgical coal, the key ingredients of traditional steel making. Together, these materials make up a very large part of Australia’s export income. But as the world moves towards net-zero emissions by 2050, the conventional way of making steel, [...]
Iran ready to meet India’s energy needs, moots relaunching rupee-rial mechanism
Mumbai, Mar 19 (PTI) Iran has offered to help India meet its energy needs by relaunching rupee-rial trade for export of oil and gas, said Iranian ambassador to India Ali Chegeni. Chegeni said if both the countries resume rupee-rial trade, bilateral trade can touch USD 30 billion. Iran used to be India's second largest oil [...]
This multibagger metal stock has given returns of more than 250%
Shares of Gravita India Limited surged 5.56% on Thursday and closed at ₹ 352.00. In the past 6 months, it has gained ₹159.55 or 82.90% and in the past one year, it has gained ₹ 253.85 or 258.63%. In other words, the share was trading at ₹100 levels a year ago. The company deals in [...]
Centuary Mattress Launches a Sleep Rejuvenation Program on World Sleep Day
In honor of World Sleep Day, Centuary’s new campaign intends to allow people to experience the power of better sleep through a sleep rejuvenation program Hyderabad, India – Business Wire India On the occasion of World Sleep Day, Centuary Mattress, India’s fastest-growing mattress brand with a three-decade of legacy, has announced its new campaign, Sleep [...]
CSS Corp Acquires San Francisco-based Directly’s OnDemand Business
Clients to benefit from the synergy of OnDemand's GigCX model, along with CSS Corp's full-time associates and CSS Edison® technology platform BANGALORE, India, March 17, 2022 /PRNewswire/ -- CSS Corp, a global customer experience and technology services provider, today announced acquiring Directly's OnDemand business unit, including its next-gen GigCX services platform. OnDemand offers fast and [...]
India’s legitimate energy transactions should not be politicised: Sources
New Delhi, Mar 18 (PTI) India's legitimate energy transactions should not be politicised and the countries self-sufficient in crude oil or those importing it from Russia cannot credibly advocate restrictive trading, government sources said on Friday.India has to keep focussing on competitive energy sources and it welcomes offers from all oil producers as geopolitical developments [...]
PM Modi assured Sri Lanka of full cooperation on economic, social matters: Finance Minister Basil Rajapaksa
Colombo, Mar 18 (PTI) Sri Lankan Finance Minister Basil Rajapaksa on Friday said that Prime Minister Narendra Modi has assured Colombo of full cooperation in all economic and social matters, including backing at international forums, to further intensify the close bilateral ties.Speaking to reporters after he returned from India, where he clinched a USD 1 [...]
Want audience to get my story through visuals, not dialogue or subtitles: SS Rajamouli
Dubai, Mar 18 (PTI) Dialogues and subtitles are just mediums of communication, said director SS Rajamouli on Friday, adding he would rather want the audience to understand the story of his films through visuals.The director, whose latest period action drama "RRR" is slated to be released on March 25, was speaking at a press conference [...]
TN budget will lead to overall economic development, say export organisation
Chennai, Mar 18 (PTI) Welfare measures announced in the Tamil Nadu Budget presented by the Finance Minister of the State Palanivel Thiaga Rajan would help in its overall economic development, an official of the Federation of Indian Export Organisations, southern region (FIEO-SR) said on Friday. FIEO-SR president A Sakthivel said the budget was futuristic with [...]
TN budget futuristic, aimed at propelling economic growth: CII
Chennai, Mar 18 (PTI) Confederation of Indian Industry (CII) Tamil Nadu on Friday termed the budget presented by Finance Minister Palanivel Thiaga Rajan as futuristic, inclusive and growth-oriented propelling economic growth. The budget was presented with the aim to strengthen the fiscal position of the state without increasing the tax burden on taxpayers, increasing employability [...]
TN budget will lead to overall economic development, say export organisations
Chennai, Mar 18 (PTI) Welfare measures announced in the Tamil Nadu Budget presented by the Finance Minister of the State Palanivel Thiaga Rajan would help in its overall economic development, an official of the Federation of Indian Export Organisations, southern region (FIEO-SR) said on Friday. FIEO-SR president A Sakthivel said the budget was futuristic with [...]
TN budget inclusive, growth oriented: TEA
Coimbatore, Mar 18 (PTI) Tirupur Exporters' Association (TEA) termed the Tamil Nadu Budget presented by Finance Minister PTR Palanivel Thiaga Rajan as inclusive and growth oriented while also lauding the efforts taken to bring down the revenue deficit by over Rs 7,000 crore and improve the state's economy. TEA President Raja M Shanmugham, in a [...]
Microfinance firm’s MD held for Rs 109-crore fraud
The managing director of a private microfinance firm has been arrested in Odisha's Sundargarh district for allegedly embezzling over Rs 100 crore on the pretext of giving loans, police said on Friday. The Economic Offences Wing of the Odisha Police arrested Deepak Kindo, who was absconding for over a year and a lookout circular was [...]
TN budget balanced for all segments: Knight Frank India
Chennai, Mar 18 (PTI) The Tamil Nadu budget presented by Finance Minister Palanivel Thiaga Rajan is 'balanced' for all segments and 'robust' given the current state of affairs, property consultant Knight Frank said on Friday. The budget has 'significant' allocations towards housing projects, restoration and recreational development, infrastructure, education and healthcare keeping in mind the [...]
181 new companies, 10,400 jobs created in IT sector despite COVID: Kerala CM
Despite COVID-19, the information-technology industry in Kerala has showcased growth with the opening of 181 new companies in IT parks and creating over 10,000 new jobs, Chief Minister of the State Pinarayi Vijayan said on Friday. Developmental activities, focus on IT parks, and various concessions granted by the government have helped not only to retain [...]
TN budget would enable holistic development of state: MCCI
Chennai, Mar 18 (PTI) The budget presented by Tamil Nadu Finance Minister Palanivel Thiaga Rajan gives special focus in certain critical areas and broad-based approach in social sectors that would enable holistic development of the state, industry body MCCI said on Friday. Madras Chamber of Commerce and Industry (MCCI) President Srivats Ram said the development [...]
Market note
Mumbai, Mar 18 (PTI) Equity, forex, bullion and commodity markets will be closed on Friday on account of Holi. PTI ABM ABM
Niranjan Hiranandani, brother Surendra divide some large joint realty projects in Mumbai region
New Delhi, Mar 17 (PTI) Realty firm Hiranandani Developers co-founders and brothers Niranjan Hiranandani and Surendra Hiranandani have divided some of the joint real estate projects in Mumbai Metropolitan Region (MMR), sources said. As per the settlement between the two brothers, Niranjan Hiranandani will own 250-acre township in Powai, while Surendra Hiranandani has received 350-acre [...]
UK tables ‘world-first’ online safety law in Parliament
London, Mar 17 (PTI) The UK government said internet users are closer to a safer online environment across websites and social media platforms as its “world-first” online safety law was tabled in Parliament on Thursday. The Online Safety Bill has been dubbed a milestone in the fight for a new digital age, which will hand [...]
Global economic fallout of war in Ukraine is expected to negatively impact Indian economy: says IMF
Washington, Mar 17 (PTI) The global economic fallout of the war in Ukraine is expected to negatively impact India's economy, while the immediate impact of the conflict on China is likely to be relatively small, the IMF said on Thursday.“The global economic fallout of the war is expected to negatively impact India's economy through a [...]
Cadila, Aurobindo, Torrent get licence to make generic version of Pfizer’s oral COVID medication
New Delhi, Mar 17 (PTI) Leading drug makers Cadila Pharmaceuticals, Aurobindo Pharma and Torrent Pharmaceuticals on Thursday said they have received a licence to manufacture a generic version of Pfizer's oral antiviral COVID-19 medication PAXLOVID and sell it in 95 countries, including India. The companies have received the nod after inking a sub-licensing pact with [...]
Biolexis to collaborate with Akston Biosciences for COVID-19 vaccine
New Delhi, Mar 17 (PTI) Biolexis, a division of Stelis Biopharma, and Akston Biosciences have inked a licensing, manufacturing and commercialisation agreement regarding a COVID-19 vaccine. In a joint statement, the two companies said they will collaborate for the production and sales of Akston’s AKS-452, a protein subunit COVID-19 vaccine. Under the agreement, Biolexis gained [...]
RIL unit, Ola, Hyundai, Rajesh Exports qualify for sops under govt’s Rs 18,100 cr PLI scheme for batteries: Sources
RIL subsidiary Reliance New Energy Solar, Ola Electric, Hyundai Global Motors Company and Rajesh Exports have been approved for receiving incentives under the Rs 18,100 crore Production Linked Incentive (PLI) scheme for battery manufacturing in India, sources said on Thursday. "The ministry had received bids from 10 companies with a capacity of 130 GWh. Reliance, [...]
GST has helped in reducing transaction cost, tax incidence: PHDCCI
New Delhi, Mar 17 (PTI) The implementation of the goods and services tax and subsequent changes in the indirect taxation regime have benefitted traders and manufacturers by significantly reducing the inter-state transaction costs and the incidence of multiple indirect taxation, PHDCCI President Pradeep Multani said on Friday. "There has been substantial shifting of goods from [...]
Corrtech International files draft papers with Sebi to raise funds via IPO
New Delhi, Mar 17 (PTI) Corrtech International, a pipeline laying solutions provider, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The public issue comprises fresh issuance of equity shares worth Rs 350 crore and an offer for sale of 40 lakh shares by promoters, draft [...]
Sebi levies Rs 25 lakh fine on 5 entities in illiquid stock options case at BSE
New Delhi, Mar 17 (PTI) Markets regulator Sebi has imposed penalties totalling Rs 25 lakh on five entities for indulging in non-genuine trades in illiquid stock options at the BSE. In five separate orders, the regulator levied a fine of Rs 5 lakh each on Aruna Devi, Sanjay KR Agarwal and Oth HUF, Sanjay Kumar [...]
China defends its ICJ judge voting in favour of Russia on Ukrainian invasion
Beijing, Mar 17 (PTI) China on Thursday defended its judge at the International Court of Justice (ICJ) in Hague who dissented against the majority order of asking Russia to immediately suspend its military operations in Ukraine, saying that four other judges also expressed “separate opinions”. The ICJ ruled on Wednesday that Russia "shall immediately suspend [...]
Samsung re-enters PC biz in India with Galaxy Book series
New Delhi, Mar 17 (PTI) Korean electronics major Samsung re-entered the personal computing segment in India with flagship PC line-up of Galaxy Book series eyeing to capture double-digit market share in this year. The company will start pre-booking six models of Galaxy Book notebooks from March 18. The notebooks will be available in the market [...]
RBI gives 3-month extension to RBL Bank’s interim MD & CEO
New Delhi, Mar 17 (PTI) Private sector RBL Bank on Thursday said the Reserve Bank has granted an extension of three months to its interim MD and CEO Rajeev Ahuja. "We wish to further inform that on request of the Bank, RBI vide its letter dated March 17, 2022, has approved the extension of term [...]
Sebi chief calls on Sitharaman
New Delhi, Mar 17 (PTI) Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch on Thursday called on Finance Minister Nirmala Sitharaman. Buch is the first woman chief of Sebi. "Smt Madhabi Puri Buch, chairperson - Securities and Exchange Board of India (Sebi), calls on Smt @nsitharaman," Sitharaman's office said in a tweet. [...]
TCS bags multi-year deal from Australia’s Western Power
New Delhi, Mar 17 (PTI) IT major TCS has bagged a multi-year contract from Western Power, an Australian government entity, for digital transformation of its software system for delivery of cleaner and resilient energy supply to western Australia, the company said on Thursday. It did not provide any financial details about the deal.Under the multi-year [...]
Indiabulls Housing Fin allots over 30 lakh shares at Rs 234.05 apiece to FCCB holders
New Delhi, Mar 17 (PTI) Indiabulls Housing Finance on Thursday said it has allotted over 30 lakh shares at Rs 234.05 apiece to the holders of foreign currency convertible bonds (FCCBs) worth USD 10 million. Pursuant to the receipt of notice for conversion of FCCBs, for a principle value of USD 10 million, the company [...]
Direct tax collection soars 48% in FY22, advance tax payment up 41%
New Delhi, Mar 17 (PTI) India's collection from tax on personal and corporate income jumped over 48 per cent in the current fiscal after a 41 per cent surge in advance tax payments, mirroring sustained economic recovery in a year that witnessed two waves of coronavirus infections. Net collections of direct taxes until March 16, [...]
Rupee jumps 37 paise to 75.84 against US dollar
Mumbai, Mar 17 (PTI) The rupee spurted by 37 paise to close at 75.84 against the US dollar on Thursday, supported by positive domestic equities and broad dollar weakness after the US Federal Reserve hiked rates. At the interbank forex market, the local unit opened at 75.96 against the greenback and witnessed an intra-day high [...]
EIH’s broad approves sale of entire stake in wholly-owned arm to France-based Newrest for Rs 55.2 cr
New Delhi, Mar 17 (PTI) Hospitality firm EIH Ltd, part of the Oberoi group, on Thursday said its broad has approved the sale of its entire stake in wholly-owned arm EIH Flight Services Ltd, Mauritius, for Rs 55.2 crore to France-based catering service provider Newrest Group International. The share purchase agreement will be executed in [...]
IBM Consulting opens two new Client Innovation Centers in India
New Delhi, Mar 17 (PTI) IT company IBM has expanded the footprint of its Client Innovation Centers to 10 cities in India with the opening of new centres in Kochi and Coimbatore. IBM already has Client Innovation Centers (CICs) located in Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, National Capital Region, Pune and Mysuru. "India is at [...]
IDFC First Bank MD & CEO gifts 5 lakh shares to kin of deceased colleague
New Delhi, Mar 17 (PTI) IDFC First Bank MD and CEO V Vaidyanathan has gifted 5 lakh shares of the bank held by him to family members of a deceased colleague, as per a regulatory filing. Vaidyanathan had earlier too gifted his shares to staff members, including his trainer, househelp and driver, to help them [...]
Virescent Renewable Energy Trust completes acquires 100 pc stake in Godawari Green Energy
New Delhi, Mar 17 (PTI) KKR-sponsored Virescent Renewable Energy Trust (VRET) on Thursday said it has complete acquisition of 100 per cent stake in Godawari Green Energy Ltd (GGEL). "We are pleased to announce the acquisition of a 50-MW (megawatt) operating asset from Godawari Power and Ispat," the company said in a statement. GGEL operates [...]
Ola Electric to hike prices from next purchase window
New Delhi, Mar 17 (PTI) Ola Electric on Thursday said it will raise prices of S1 Pro scooter with effect from the next purchase window. The Bengaluru-based firm is slated to commence the next purchase window on March 17-18, coinciding with the Holi festival. "Thanks to all who've purchased S1 Pro already and special thanks [...]
SBI to provide USD 1 bn credit line to Sri Lanka for procurement of food, other essentials
New Delhi, Mar 17 (PTI) The finance ministry on Thursday said State Bank of India (SBI) will provide USD 1 billion credit facility to Sri Lanka for procurement of food, medicines and other essential items. The ministry in a tweet said Finance Minister Nirmala Sitharaman and External Affairs Minister S Jaishankar met Sri Lankan Finance [...]
NEWSALERT
Advance tax collections jump 41 pc to Rs 6.63 lakh cr; net direct tax collections soar to Rs 13.63 lakh cr in FY22: Official statement. PTI ANZ ABM ABM
HDFC Capital to buy 7.2 pc stake in realty start-up Loyalie
New Delhi, Mar 17 (PTI) HDFC on Thursday said it will acquire 7.2 per cent stake in proptech start-up Loyalie IT Solutions Pvt Ltd for Rs 1.1 crore. Founded by Akhil Sharaf in 2018, Loyalie, which has recently been renamed as Reloy, has been working closely with top builders to create the perfect home owning [...]
After 18 months, BARC resumes publishing news channel ratings
Mumbai, Mar 17 (PTI) More than two months after the government asked television monitoring agency BARC to resume publishing ratings of news channels and 18 months after it was forced to suspend the job following an alleged scam, the agency on Thursday released data for the 10th week of 2022. The Broadcast Audience Research Council [...]
SJVN bags 100-MW solar project in Gujarat
New Delhi, Mar 17 (PTI) State-owned SJVN on Thursday said it has bagged a 100-megawatt (MW) grid-connected solar power project in Gujarat under a tariff-based competitive bidding. In a statement, SJVN Chairman and Managing Director Nand Lal Sharma said the company has secured the 100-MW grid-connected solar power project in Gujarat through tariff-based competitive bidding [...]
IGL launches battery swapping station ‘Energy Cafe’
New Delhi, Mar 17 (PTI) Indraprastha Gas Ltd, India's largest CNG retailer, has tied up with Pune-based electric vehicle manufacturer Kinetic Green to launch 'Energy Cafe' - a battery-swapping station that will replace discharged batteries of two and three-wheeler EVs with a fully charged one. "Under the alliance, IGL and Kinetic will roll out a [...]
Chouhan reviews preparation for Investors Summit 2022
Bhopal, Mar 17 (PTI) To make the Investors Summit 2022 successful, Madhya Pradesh Chief Minister Shivraj Singh Chouhan has directed to invite leading corporate business houses and leading companies of different sectors in the meet scheduled to be held in November this year. Chouhan reviewed the preparations for the proposed meet on Wednesday with ministers [...]
Looppanel Announces USD 1 Mn in Funding to Help Product and Design Teams Painlessly Uncover User Insights and Build the Right Product
The best way to build a product is by talking to your users but product & design teams struggle to run effective user interviews & build based on user insights. Looppanel gives teams a painless workflow to discover actionable insights faster - from setting up and running user interviews to synthesizing insights, and aligning your [...]
Assamese start-up launches tea named after Zelenskyy
Kolkata, Mar 17 (PTI) Aromica Tea, an Assam-based startup, has launched a CTC tea named after Ukraine President Volodymyr Zelenskyy to "honour his valour and courage" in the face of Russian invasion.Ranjit Barua, the director of Aromica Tea, told PTI that the brand ‘Zelenskyy’, a strong Assam CTC tea, was launched on Wednesday."The basic idea [...]
Dredging Corp signs major ship building pact with Cochin Shipyard
New Delhi, Mar 17 (PTI) Dredging Corporation of India (DCI) on Thursday signed a historic ship building agreement for the first 'make in India' project for construction of a high-capacity dredger at the Cochin Shipyard Limited (CSL). The agreement is for constructing the first beagle series 12 trailing suction hopper dredger, an official statement said. [...]
BPCL launches voice-based LPG booking, payment facility
New Delhi, Mar 17 (PTI) Bharat Petroleum Corporation Ltd (BPCL) on Thursday launched a voice-based digital payment facility for its cooking gas (LPG) consumers, who do not have smartphones or internet.BPCL said it has partnered UltraCash Technologies Pvt Ltd to offer a voice-based digital payment facility that allows its BharatGas consumers, who do not have [...]
Retail inflation for farm, rural workers rises to 5.59%, 5.94% in Feb
New Delhi, Mar 17 (PTI) Retail inflation for farm workers and rural labourers rose to 5.59 per cent and 5.94 per cent respectively in February, mainly due to higher prices of certain food items, official data showed on Thursday. Point to point rate of inflation based on the CPI-AL (consumer price index for agricultural labourers) [...]
Seton Pharmaceuticals, LLC and Senores Pharmaceuticals, Inc. launch Butalbital, Acetaminophen and Caffeine Capsules USP, 50 mg/325 mg/40 mg in the U.S. market
WALL, S.D. and ATLANTA and AHMEDABAD, India, March 17, 2022 /PRNewswire/ -- Seton Pharmaceuticals, LLC and Senores Pharmaceuticals, Inc. today announced the launch of Butalbital, Acetaminophen and Caffeine Capsules USP, 50 mg/325 mg/40 mg, a therapeutic equivalent of the reference listed drug Butalbital, Acetaminophen, and Caffeine capsules of Mayne Pharma, Inc. in the U.S. market. [...]
Tripura govt presents Rs 26,893-cr budget with no new tax
Agartala, Mar 17 (PTI) Tripura Deputy Chief Minister Jishnu Dev Varma on Thursday presented a Rs 26,893-crore budget for the 2022-23 fiscal in the assembly without proposing any new tax while emphasising on development of infrastructure, industries and social sector.The budgetary outlay is 18.34 per cent more than that of the 2021-22 financial year.Dev Varma, [...]
Assamese start-up launches tea named after Zelenskyy
Kolkata, Mar 17 (PTI) Aromatic Tea, an Assam-based startup, has launched a CTC tea named after Ukraine President Volodymyr Zelenskyy to "honour his valour and courage" in the face of Russian invasion.Ranjit Barua, the director of Aromatic Tea, told PTI that the brand ‘Zelenskyy’, a strong Assam CTC tea, was launched on Wednesday."The basic idea [...]
Budget to yield dividends for several years; time for pvt sector to step up investment: RBI article
Mumbai, Mar 17 (PTI) Nudging the private sector to participate in the economic recovery process, the RBI in an article said the infrastructure-first strategy of the 2022-23 Budget unveiled in Parliament last month will pay dividends for several years to come.The article also said that while the post-pandemic debt consolidation will rely primarily on GDP [...]
Trade between India, Ireland growing rapidly: Irish minister
New Delhi, Mar 17 (PTI) With its trade with India trebling to 5.5 billion euros in the past decade, Ireland is keen on further strengthening bilateral commercial relations with Asia's third-largest economy, its trade minister said. Ireland Minister of State for Trade Promotion Robert Troy, who visited India as part of his St. Patrick's Day [...]
Quess Corp founder Ajit Isaac commits Rs 105 cr to set up Centre for Public Health at IISC
Bengaluru, Mar 17 (PTI) The Indian Institute of Science on Thursday entered into an MoU with Ajit Isaac, Founder and Chairman of Quess Corp, and Sarah Isaac, for establishing a Centre for Public Health at the IISc campus. "Mr and Mrs Isaac have committed a sum of Rs. 105 crore towards setting up this Centre, [...]
In a 1st, Indian trader exports goods to Uzbek via Pak and Afghanistan
Islamabad, Mar 17 (PTI) In a first, a private trader in India has exported commercial goods to Uzbekistan through Pakistan and Afghanistan in a historic trade activity linking the four countries, according to a media report. Trucks carrying 140 tonnes of cargo, mostly sugar from India, departed Kabul on Wednesday for the Uzbek capital Tashkent, [...]
HDFC & HDFC bank up as markets witness a winning session
The Indian stock market has opened in the green today. The BSE Sensex is at 57888 points, 1.89% high, and the NSE Nifty is at 17,280.85 points, 1.80% higher than the previous close. The HDFC twins, i.e., Housing Development Finance Corp Ltd (HDFC Limited) and HDFC Bank Limited reached highs of ₹ 2,394.40 and ₹ [...]
SKODA AUTO India Honours Winners of Service Challenge with Excellence Awards
Pune, Maharashtra, India – Business Wire India • ŠKODA AUTO India’s Service Challenge winners honoured • Part of ŠKODA AUTO’s endeavour to improve service quality and customer satisfaction • 2011 onwards ŠKODA AUTO India is evaluating and recognizing the dealer employees through Service Challenge In a glittering ceremony in Pune, ŠKODA AUTO India awarded, honoured [...]
Ariel India and Disney+ Hotstar Curate a List of Films and Shows that SeeEqual
Authenticated by Akshara Centre, the #SeeEqual and #ShareTheLoad list on Disney+ Hotstar features progressive content that represents women as Equal Mumbai, Maharashtra, India (NewsVoir) Ariel India has been advocating for gender equality at home for seven years now, through its award-winning movement #ShareTheLoad. Their latest edition #SeeEqual has received phenomenal response from all quarters and [...]
Bajaj Housing Finance Reaches a New Milestone – Crosses Rs. 50,000 Cr. of Assets Under Management (AUM)
Pune, Maharashtra, India (NewsVoir) Bajaj Housing Finance announces a milestone achievement, surpassing Rs. 50,000 Cr. worth of Assets Under Management. The Company started functioning as an independent entity in March 2018 and has touched this milestone number in just four years of operations. In the first year of operations, i.e., FY19, Bajaj Housing Finance touched [...]
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