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Bank stock falls 14% after company’s net profit decreases by 34% QoQ
During Monday’s trading session, the shares of one of India’s leading private sector banks slumped nearly 14.7 percent to hit a new 52-week low at Rs. 175.15 on BSE, after the company reported Q2 FY25 financial results with a net profit declined by 34 percent QoQ and 30 percent YoY. With a market cap of [...]
FMCG stock under ₹20 hits 10% upper circuit after net profit increases by 68% YoY
Small-cap stock, engaged in the business of processing and marketing rice in the domestic and international markets hit the upper circuit of 10 percent following a 68 percent year-on-year growth in net profit for Q2 FY25. Share price variations: With a market capitalization of Rs. 1,015.03 crores, Sarveshwar Foods Ltd. hit a 10 percent upper [...]
Financially strong stock under ₹100 jumps 6% after reporting 49% YoY increase in net profit
Financially strong stock engaged in the design, Manufacturing, Commissioning, and other works of heavy equipment, machinery & systems, and many more jumped upto 6 percent in the day’s trade following a 49 percent jump in Net Profits. Price Action With a market capitalization of Rs. 9,062 Crores, the shares of Lloyds Engineering Works Limited were [...]
Stock under ₹40 hits 5% upper circuit after raising ₹86.4 Cr via preferential issuance
During Monday’s trading session, the shares of one of the leading players involved in manufacturing and exporting of forged and machined components hit a 5 percent upper circuit at Rs. 36.79 on NSE, after the company announced raising Rs 86.4 crores through preferential issuance. With a market cap of Rs. 381.4 crores, the shares of [...]
Stock under ₹50 jumps 6% after reporting 50% YoY increase in net profits
The shares of the leading PSU bank witnessed a surge of over 6% following a 50% year-on-year increase in net profit and a reduction in non-performing assets (NPA) in Q2 FY25. Share price variations: With a market capitalization of Rs. 56,372.34 crores, UCO Bank Ltd. rose to an intraday high of Rs. 48.40 representing a [...]
IT stock hits 10% upper circuit after its net profits increases by 70% YoY
IT stock engaged in offering product and solution suites in designing, developing, implementing, and integrating high-performance computing solutions hit a 10 percent upper circuit in the day’s following jump in Net Profits by 70 percent. Price Action With a market capitalization of Rs. 15,658 Crores, the shares of Netweb Technologies India Limited were trading at [...]
Stock jumps 6% after RBI lifts restrictions on loan disbursals against IPOs and debentures
During Monday’s trading session, the shares of an integrated and diversified financial services group surged 6.4 percent to hit a new 52-week high at Rs. 168.85 on BSE, after the company announced that RBI has lifted restrictions on its material subsidiary. With a market cap of Rs. 15,249 crores, at 11:46 am., the shares of [...]
Water management falls 6% after FII offloaded stake in the company
The shares of the water treatment solution provider fell around 6 percent after UBS Principal Capital Asia offloaded 5.04 lakh equity shares in the company. With a market capitalization of Rs 10,941.16 crore, the shares of VA Tech Wabag Ltd were trading at Rs 1,758.60 per share, decreasing around 5 percent as compared to the [...]
Infra stock hits 20% lower circuit after Road Ministry impose ban on the company for 1 year
Shares of this infrastructure stock reached a 20 percent lower circuit limit on Monday after the company and its two subsidiaries were disqualified by the Ministry of Road Transport & Highways on Saturday from participating in any tender processes. Share Price Movement In Monday's trading session, PNC Infratech Ltd share price hit an intraday low [...]
Mukul Agrawal stock jumps 4% after acquiring 100% stake in UK-based company
During Monday’s trading session, the shares of a leading manufacturer of high-quality engineering metal components surged 4.8 percent to Rs. 13,594 on BSE, after the company signed an agreement to acquire a 100 percent stake in a UK-based company. With a market cap of Rs. 19,515.3 crores, at 10:31 am., the shares of PTC Industries [...]
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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
Li-ion battery pack maker Battrixx acquires Varos
New Delhi, Mar 14 (PTI) Manufacturer of lithium-ion battery packs for electric vehicles, Battrixx on Monday said it has fully acquired Pune-based Varos Technology Pvt Ltd for an undisclosed sum. Varos is a technology product and service provider in the field of IoT, including tools for electric vehicle (EV) infrastructure and battery management systems. Battrixx [...]
NCLAT upholds order to restore power supply to Karthik Alloys plant
New Delhi, Mar 14 (PTI) The National Company Law Appellate Tribunal (NCLAT) on Monday upheld an NCLT order directing the Damodar Valley Corporation (DVC) to restore the electricity supply of a plant of debt-ridden Karthik Alloys, which is facing insolvency resolution proceedings. The appellate tribunal said that the National Company Law Tribunal (NCLT) has "not [...]
Flexi-staffing industry dodges Omicron fears, maintains 21.5% growth in Q3: report
New Delhi, Mar 14 (PTI) Flexi-staffing industry has dodged Omicron fears and grew by 21.5 per cent in the third quarter of FY2022 compared to the year-ago period, a report by the Indian Staffing Federation (ISF) said. The IT and ITeS, e-commerce, retail, logistics, and hospitals were among the top hiring sectors in Q3 FY22, [...]
CBI books Cethar Ltd in bank fraud case of Rs 163 crore
New Delhi, Mar 14 (PTI) The CBI has filed an FIR against Cethar Limited and its Chairman K Subburaj and Managing Director N K Pothiraj for allegedly cheating Canara Bank to the tune of Rs 163 crore in loan defaults, officials said on Monday.The company started operating in 1981 in Tiruchirappalli, Tamil Nadu and is [...]
Retail inflation hits 8-mth high of 6.07 pc in Feb; wholesale stays in double-digits
New Delhi, Mar 14 (PTI) Retail inflation hit an eight-month high of 6.07 per cent in February, remaining above the RBI's comfort level for the second month in a row, while wholesale price-based inflation soared to 13.11 per cent on account of hardening of crude oil and non-food item prices, government data showed on Monday. [...]
Strides Pharma Science promoters scale down equity warrant subscription to 20 lakh
New Delhi, Mar 14 (PTI) Strides Pharma Science Ltd on Monday said its promoters have revised downwards their intent to subscribe equity warrants to 20 lakh from an earlier overall commitment to subscribe 40 lakh warrants. In a regulatory filing, the company said its board of directors have approved the revised proposal of the promoters [...]
Govt to take all measures to provide relief to consumers from high fuel prices: Puri
New Delhi, Mar 14 (PTI) Amid skyrocketing global oil prices, Union Minister Hardeep Singh Puri on Monday said the government will take all required measures in the coming months to ensure that consumers get relief from high fuel rates. Replying during the Question Hour in the Rajya Sabha, the Minister of Petroleum and Natural Gas [...]
Govt seeks Par nod for extra spending of Rs 1.07 lakh cr; Rs 15K cr towards fertilizer subsidy
New Delhi, Mar 14 (PTI) The government on Monday sought Parliament nod for net additional spending of over Rs 1.07 lakh crore, including about Rs 15,000 crore towards fertiliser subsidy, in the third batch of supplementary demands for the current fiscal year. According to the third batch of supplementary demands for grants tabled in the [...]
BharatPe enters gold loan segment; eyes disbursals of Rs 500 cr this year
Mumbai, Mar 14 (PTI) Crisis-ridden fintech player BharatPe has entered the gold loan segment for its merchant partners, marking its entry into the secured credit category for a firm that hawks a slew of unsecured small ticket credit products. The Gurugram-based company has been mired in a lot of scandals, which led to one of [...]
Rupee unlikely to be majorly impacted due to Russia-Ukraine war: SBI research
Kolkata, Mar 14 (PTI) The ongoing conflict between Ukraine and Russia is unlikely to have any major impact on the Indian rupee and the forex volatility in the country (USD/INR) has been much less now as compared to the global financial crisis which took place in 2008, SBI said in its Ecowrap research report. The [...]
NEWSALERT
Reliance Industries acquires assets of cobalt-free lithium battery technology company Lithium Werks for USD 61 mn: Statement. PTI ANZ ANZ ABM ABM
RBI allows MFIs to fix interest rates
Mumbai, Mar 14 (PTI) The Reserve Bank of India (RBI) on Monday allowed microfinance lenders to fix interest rates on loans with a rider that those should not be usurious for the borrowers. A microfinance loan is defined as a collateral-free loan given to a household having an annual income of up to Rs 3 [...]
Bahwan CyberTek expands operations in TN with office in Coimbatore
Coimbatore, Mar 14 (PTI) As part of its expansion plans, Bahwan CyberTek (BCT) Group, a global provider of digital transformation solutions, opened a product engineering and software delivery center in the city on Monday. The centre will accommodate 70 employees and will have a training facility to promote up-skilling in digital technologies. It will play [...]
MFIs’ gross loan portfolio up 1.86 pc to Rs 2,32,126 cr in Q3 FY22: Sa Dhan
Mumbai, Mar 14 (PTI) Microfinance industry's gross loan portfolio (GLP) grew 1.86 per cent year-on-year to Rs 2,32,126 crore in the quarter ended December 2021 as against Rs 2,27,893 crore in the same period of the previous fiscal, according to a report by Sa-Dhan. Sa-Dhan is an RBI-recognised self-regulatory organisation for microfinance institutions (MFIs). Total [...]
Russia may face ‘deep recession’: IMF chief Kristalina Georgieva
Washington/Moscow, Mar 14 (PTI) Russia may face a "deep recession," IMF chief Kristalina Georgieva has said, as she warned that the impact of the "unprecedented" Western sanctions on Moscow for its military aggression against Ukraine will be "quite severe" for the Russian economy.IMF's Managing Director Georgieva also said that a Russian sovereign default is no [...]
VIL makes foray in e-sports, ties up with Nazara Tech
New Delhi, Mar 14 (PTI) Eyeing growth in average revenue per user, debt-ridden telecom operator Vodafone Idea Ltd (VIL) on Monday made a foray in the online gaming segment in partnership with Nazara Technologies. VIL sees gaming as a highly monetizable segment with a significant growth potential. "Gaming is perfectly aligned with our strategic focus [...]
Puri slams Rahul Gandhi for tank-up comment says sales went up 20%
New Delhi, Mar 14 (PTI) Oil Minister Hardeep Singh Puri on Monday slammed Congress leader Rahul Gandhi for his comments asking consumers to tank up in preparation for an imminent hike in petrol and diesel prices, saying that one statement led to "hoarding" of 20 per cent fuel. Replying to supplementaries during Question Hour, Puri [...]
MUMBAI, MARCH 7
(PTI) MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO): 69920.00 70580.00 STANDARD GOLD (99.5) : 53021.00 53380.00 PURE GOLD (99.9) : 53234.00 53595.00 KOLKATA BULLION CLOSING SILVER RDY.(BAR) : Rs.70350.00(69,200.00) Per Kg.SILVER RDY.(PORTION) : Rs.70450.00(69,300.00) Per Kg.GOLD (24-CARAT) RDY. : Rs.54,150.00(53,100.00)Per10G GOLD (22-CARAT) RDY. : Rs.51,400.00(50,400.00)Per10G HALLMARKED GOLD(22-CT) RDY. : Rs.52,150.00(51,150.00)Per10G PTI [...]
COMMODITY PRICES
MUMBAI, MARCH 7 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST.COPPER :- COPPER CABEL SCRAP 847.00 COPPER HEAVY SCRAPS 835.00 COPPER ARMATURE (CREDIT) 819.00 COPPER UTENSILS SCRAP 750.00 CC ROD 891.00 BRASS :- BRASS SHEET CUTTING 575.00 BRASS UTENSIL SCRAP 530.00 BRASS HONEY 520.00 ALUMINIUM :- ALUMINIUM UTENSIL SCARPS 212.00 ALUMINIUM EXTRUSION SCRAP 258.00 ALUMINIUM INGOTS [...]
Karnataka IT Minister launches country’s first digital water data bank
Bengaluru, Mar 14 (PTI) Karnataka Minister for IT-BT C N Ashwath Narayan on Monday launched India's first digital water data bank ‘AQVERIUM’, formed by AquaKraft Group Ventures. Launching the digital startup of the company that is headquartered here, the minister said this is a unique innovation combining sustainable and green technologies along with information technology, [...]
Sitharaman presents Rs 1.42 lakh cr J&K budget in LS
New Delhi, Mar 14 (PTI) Finance Minister Nirmala Sitharaman on Monday presented a Rs 1.42-lakh-crore budget for Jammu and Kashmir for the year 2022-23 in Lok Sabha, amid opposition accusations that the government was rushing the proposals through Parliament. Sitharaman also presented the supplementary demands for the year 2021-22 totalling Rs 18,860.32 crore for the [...]
Retail inflation quickens to 6.07% in Feb; remains above RBI’s comfort zone
New Delhi, Mar 14 (PTI) Retail inflation inched up to an eight-month high of 6.07 per cent in February, remaining above the RBI's comfort level for the second month in a row, mainly on account of a rise in food prices, official data showed on Monday. The Consumer Price Index (CPI) based retail inflation was [...]
India hopes for oil from Iran, Venezuela; higher output from OPEC+ to cool prices
New Delhi, Mar 14 (PTI) India, the world's third-largest energy-consuming and importing nation, is pinning hope on resumption of crude oil supplies from Venezuela and Iran as well as higher production from OPEC+ nations to help cool international oil prices that have hit multi-year highs. It will also evaluate the Russian offer to sell crude [...]
Power Mech Projects bags order worth Rs 2,120 cr under Jal Jeevan Mission
New Delhi, Mar 14 (PTI) Infrastructure-construction firm Power Mech Projects has bagged orders worth Rs 2,120 crore under the Jal Jeevan Mission programme, a company statement said on Monday. The company has won the new orders under the Phase-III of the Jal Jeevan Mission covering 2,120 villages in Pratapgarh, Fatehpur and Meerut districts of Uttar [...]
TDSAT denies interim relief to Voda Idea in a pre-activated sim sale case
Telecom tribunal TDSAT has denied any immediate interim relief to debt-ridden telecom company Vodafone Idea in a matter related to the penalty imposed by the Department of Telecom for selling pre-activated SIM cards. The Department of Telecom (DoT) has imposed a penalty of Rs 1.9 crore on VIL and will seize bank guarantee of the [...]
Smallcap Drone stock gives multibagger returns of 885% in a year
Shares of RattanIndia Enterprises Ltd increased by a whopping 885% in one year to ₹ 50.75. Therefore, if an investor would have invested ₹1,00,000 a year ago, his/her investment would be worth ₹9,85,000 today. In the last five days, the share price surged 27% from ₹41.70 to ₹ 50.75. RattanIndia Enterprises Limited is the flagship [...]
Govt gets multiple preliminary bids for HLL Lifecare privatisation
New Delhi, Mar 14 (PTI) The government on Monday said it has received multiple preliminary bids for HLL Lifecare. "Multiple expressions of interest received for privatization of HLL Lifecare Limited (HLL). The transaction moves ahead to the next stage," DIPAM Secretary Tuhin Kanta Pandey tweeted. Now, the due diligence process will start, following which financial [...]
Accurate becomes India’s First Institute to Celebrate 100 percent Placement
Delhi | NCR, India (NewsVoir) Accurate Institute of Management & Technology (Accurate), a premier education institute in Greater Noida, celebrated 100% placement success at its campus. Emerging as the most successful institution offering a wide range of courses pertaining to different fields of studies, Accurate has set a record by providing 100% placement to the [...]
Education, police get higher allocations in J&K budget
New Delhi, Mar 14 (PTI) The education department has been allocated the highest Rs 11,832.77 crore followed by Rs 10,831.18 crore for the home department, which controls police, in the Rs 1.42 lakh crore budget for the Union Territory of Jammu and Kashmir for 2022-23 presented by Union finance minister in Lok Sabha on Monday.Sitharaman [...]
Hinduja Tech Launches New, Sustainable, and Energy Efficient Website
Engineered a Sustainable Website that save 39% of your Devices’ Energy Consumption, protect your Eyes, and reduce the Global Carbon Footprint Chennai, Tamil Nadu, India (NewsVoir) Hinduja Tech, part of UK-based transnational conglomerate Hinduja Group, is now launching its new, sustainable website (hindujatech.com) that strongly supports the reduction of Carbon Footprint. To make it more [...]
Govt seeks Par nod for extra spending of Rs 1.07 lakh cr; Rs 15K cr towards fertilizer subsidy
New Delhi, Mar 14 (PTI) The government on Monday sought Parliament nod for net additional spending of over Rs 1.07 lakh crore, including about Rs 15,000 crore towards fertilizer subsidy, in the third batch of supplementary demands for current fiscal year. As per the third batch of supplementary demands for grants tabled in the Lok [...]
Mr. Manu Monga, Sr. VP, Axis Bank – Digital transformation joins Ventura Securities as Executive Director
MUMBAI, India, March 14, 2022 /PRNewswire/ -- Ventura Securities - a leading financial services company, announced a major strengthening of its online digital strategy as it moves towards its next phase of growth by appointing Mr. Manu Monga as Executive Director. In this role he will be responsible for strengthening the company's digital capabilities and [...]
Jubilant FoodWorks shares tank over 12 pc; mcap declines by Rs 4,636 cr
New Delhi, Mar 14 (PTI) Shares of Jubilant FoodWorks on Monday tumbled over 12 per cent after the company said its CEO Pratik Rashmikant Pota has resigned. The stock tanked 14.66 per cent to Rs 2,444 -- its 52-week low -- on the BSE. It settled at Rs 2,512.75, lower by 12.27 per cent. At [...]
Bank of Baroda, BNP Paribas AMC form asset management JV
New Delhi, Mar 14 (PTI) Bank of Baroda and BNP Paribas Asset Management on Monday said they have entered into a strategic partnership by combining the strengths of their respective asset management businesses to form 'Baroda BNP Paribas Mutual Fund'. Suresh Soni has been appointed as the CEO of the merged entity. Bank of Baroda [...]
Axis Bank Bags IFR Asia’s Asian Bank of the Year and India Bond House Award
Recognized for the scale of deals closed in the past 12 months, reflecting its ‘One Axis’ philosophy Mumbai, Maharashtra, India (NewsVoir) Axis Bank, India’s third-largest private sector bank has been awarded IFR Asia’s Asian Bank of The Year, for its breadth of coverage and depth of expertise in the Asian investment banking space. The award [...]
THE LEELA PALACES, HOTELS AND RESORTS WELCOMES NOBEL PEACE LAUREATE KAILASH SATYARTHI TO THEIR ICONS OF INDIA BY THE LEELA INITIATIVE
- PARTNERS WITH KAILASH SATYARTHI CHILDREN'S FOUNDATION TO EMPOWER CHILDREN MUMBAI, India, March 14, 2022 /PRNewswire/ -- The Leela Palaces, Hotels and Resorts welcomed Nobel Peace Laureate Kailash Satyarthi, to their Icons of India by The Leela initiative. Nobel Peace Laureate Kailash Satyarthi, envisions a world where all children are free, safe, healthy, receive a [...]
Fully compliant with RBI data localisation directions: Paytm Payments Bank
Paytm Payments Bank on Monday said it is fully compliant with the data localisation rules of the Reserve Bank of India and the entire data of the bank resides in the country. The RBI last week directed Vijay Shekhar Sharma- promoted Paytm Payments Bank Ltd (PPBL) to stop opening new accounts amid "material supervisory concerns" [...]
Srichakra Becomes the First Indian Recycling Company to Receive a Positive Safety Assessment From European Food Safety Authority
Mumbai, Maharashtra, India – Business Wire India Srichakra Polyplast (Srichakra), India’s first food-grade quality plastic recycling company announced today that its recycled polyethylene terephthalate (rPET) has received a positive safety assessment from the European Food Safety Authority (EFSA). The announcement comes as the Food Safety and Standards Authority of India (FSSAI) is set to approve [...]
INDOSPACE NAMED ‘FIRM OF THE YEAR IN INDIA’ THRICE IN A ROW BY PERE
MUMBAI, India, March 14, 2022 /PRNewswire/ -- IndoSpace, the real estate arm of Everstone Group and India's largest developer and owner of Grade A industrial real estate and logistics parks, has been awarded the 'Firm of the Year - India' at the PERE Global Awards 2021. IndoSpace has been participating in these awards since 2019 [...]
BULLION CLOSING RATE
BULLION CLOSING RATE MUMBAI, MARCH 14 (PTI) MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 69203.00 68414.00 STANDARD GOLD (99.5) : 51943.00 51753.00 PURE GOLD (99.9) : 52152.00 51961.00 ----SSB ----SSB ----SSB ----SSB ----SSB KOLKATA BULLION CLOSING SILVER RDY.(BAR) : Rs.69,550.00(70,150.00) Per Kg.SILVER RDY.(PORTION) : Rs.69,650.00(70,250.00) Per Kg.GOLD (24-CARAT) RDY. : [...]
Govt seeks Par nod for extra spending of Rs 1.07 lakh cr; Rs 15K cr towards fertilizer subsidy
New Delhi, Mar 14 (PTI) The government on Monday sought Parliament nod for net additional spending of over Rs 1.07 lakh crore, including about Rs 15,000 crore towards fertilizer subsidy, in the third batch of supplementary demands for current fiscal year. As per the third batch of supplementary demands for grants tabled in the Lok [...]
Pharma dept extends deadline until March-end for proposals under PLI scheme for bulk drugs
New Delhi, Mar 14 (PTI) The Department of Pharmaceuticals (DoP) has extended the date of receipt of applications till March-end for the vacant slots under Production-Linked Incentive (PLI) Scheme for the promotion of domestic manufacturing of bulk drugs, an official release said on Monday. The government has launched the PLI scheme to encourgae domestic production [...]
Markets build on gains for 5th day; Sensex surges 936 pts to reclaim 56k-mark
Mumbai, Mar 14 (PTI) Equity indices marched higher for the fifth session on the trot on Monday, propelled by robust buying in banking and IT counters along with a decline in crude oil prices as hopes of headway in Russia-Ukraine talks boosted risk-on sentiment globally. European bourses opened higher following reports of tentative progress in [...]
At 642, Kotak hit by highest number of bank frauds of Rs 1 lakh and more in Apr-Dec FY22
New Delhi, Mar 14 (PTI) Kotak Mahindra Bank has been hit by the highest number of frauds at 642, involving Rs 1 lakh and above, in first nine months of 2021-22, Parliament was informed on Monday. It was followed by ICICI Bank and IndusInd Bank at 518 and 377, respectively. Directions issued by the Reserve [...]
Debasish Panda takes charge as Irdai chief
New Delhi, Mar 14 (PTI) Former finance secretary Debasish Panda on Monday took charge as the new chairman of the Insurance Regulatory and Development Authority of India (Irdai). The appointment of the Irdai chairman comes nearly nine months after the vacancy was created following Subhash Chandra Khuntia completing his term in May last year. "Debasish [...]
Tech, managerial experience not relevant criteria for bidder selection: FinMin on CEL sale
New Delhi, Mar 14 (PTI) Defending its decision to sell Central Electronics Ltd to Nandal Finance & Leasing, the government on Monday said technological and managerial experience are not among the relevant criteria for the selection of a bidder in strategic disinvestment. The government in November approved the highest price bid of Rs 210 crore [...]
DMK, Trinamool members oppose interest rate cut on EPF deposits
New Delhi, Mar 14 (PTI) DMK member T R Baalu on Monday slammed the government for lowering the interest rate on Employees' Provident Fund deposits to 8.1 per cent. Raising the issue during Zero Hour, Baalu also demanded that the Centre restore the interest rate on EPF deposits to 8.5 per cent and fix the [...]
Edible oil import up 23% to 9.84 LT in Feb; refined palm oil shipments surge on lower duty
New Delhi, Mar 14 (PTI) India's edible oil imports rose 23 per cent to 9,83,608 tonnes in February mainly due to a sharp rise in shipments of refined palm oil, industry body SEA said on Monday. Edible oil imports stood at 7,96,568 tonnes in the same month last year. Total import of vegetable oils (edible [...]
DMK, Trinamool members oppose interest rate cut on EPF deposits
New Delhi, Mar 14 (PTI) DMK member T R Baalu on Monday slammed the government for lowering the interest rate on Employees Provident Fund deposits to 8.1 per cent. Raising the issue during Zero Hour, Baalu also demanded that the Centre restore the interest rate on EPF deposits to 8.5 per cent and fix the [...]
RD Group Recognizes and Appreciates Its Employees in Annual Employee Meet 2022
RD Group had organized its Annual Employee Meet on 27-28 February 2022. The agenda of this annual event was to appreciate the employees' commendable performance and their dedication towards work which has made RD Group achieve success. The RD Group organized a 2-day event at the luxurious The Lagoona Resort, Mumbai, to make the employees [...]
Cashfree Payments launches softPOS for businesses; provides ability to turn Android phones into POS machines
BENGALURU, India, March 14, 2022 /PRNewswire/ -- Cashfree Payments, India's leading payments and API banking solutions company, today announced the launch of 'softPOS'. softPOS is a Point of Sale (POS) solution for businesses like grocery stores, retail shops, food delivery apps, automobile industry, NBFCs etc. doing door-to-door collections. softPOS is available as an Android app, [...]
ARTPARK with Rs 230-cr seed capital launched in Bengaluru
Bengaluru, Mar 14 (PTI) An Artificial Intelligence and Robotics Technology Park (ARTPARK) with a seed money of Rs 230 crore was launched on Monday at the Indian Institute of Science, Bengaluru. Of the Rs 230 crore, Rs 170 crore would be borne by the Central government and the rest by the Karnataka government, an official [...]
Bank frauds fall drastically over last 5 years to Rs 648 cr in Apr-Dec FY22: Minister
New Delhi, Mar 14 (PTI) Bank frauds over the last five years have come down drastically to Rs 648 crore in first nine months of 2021-22, on the back of structural and procedural reforms to check such incidents, Parliament was informed on Monday. In 2016-17, bank frauds stood at Rs 61,229 crore, which declined to [...]
Azure Power fully commissions its 300 MWs SECI project, Rajasthan 8, in Bhadla, Rajasthan
NEW DELHI, March 14, 2022 /PRNewswire/ -- Azure Power (NYSE: AZRE), a leading sustainable energy solutions provider and power producer in India, announced full commissioning of its 300 MWs Interstate Transmission System (ISTS) connected solar power project, Rajasthan 8, allocated by Solar Energy Corporation of India (SECI). The project is in Bhadla, Rajasthan and the [...]
Atos in India is Great Place to Work-Certified™
MUMBAI, India, March 14, 2022 /PRNewswire/ -- Atos in India has been Great Place to Work-Certified™ by Great Place to Work® Institute, India. Great Place to Work® Certification accreditation denotes the voice of employees and demonstrates them as an "Employer of Choice." With a Trust Index© score of 77%, over 80% of the employees perceive [...]
Niramai Health gets USFDA nod for new device
New Delhi, Mar 14 (PTI) Healthcare firm Niramai Health Analytix on Monday said it has received approval from the US health regulator for its device SMILE-100 System. The product is a breast thermography device that helps healthcare personnel to review, measure and analyse thermally significant indications in the breast region. It can be used in [...]
Rs 1.41 lk cr released to Bihar as proceeds of central taxes and duties in 2020-22: Centre
New Delhi, Mar 14 (PTI) Over Rs 1.41 lakh crore has been released by the Centre to the Bihar government as proceeds of central taxes and duties during 2020-21 and 2021-22 following recommendations of the 15th Finance Commission, the Lok Sabha was informed on Monday. Union Minister of State for Finance Pankaj Chaudhary said more [...]
Govt to take all measures to provide relief to consumers from high fuel prices: Puri
Amid skyrocketing oil prices, Union Minister Hardeep Singh Puri on Monday said the government will take all required measures in the coming months to ensure that consumers get relief from high fuel prices. Replying during the Question Hour in the Rajya Sabha, the Minister of Petroleum and Natural Gas also shared that a proposal to [...]
IRCTC asks railways to rethink order allowing its zones to build food plazas on rail land
New Delhi, Mar 14 (PTI) The IRCTC has asked the railways to reconsider its decision to let its zones to build food plazas on rail land, a mandate held by the catering arm of the national transporter. In an order issued on March 8, the Railway Board gave permission to its 17 zones to use [...]
Domestic aviation close to reaching ‘pre-Covid’ level: Scindia
New Delhi, Mar 14 (PTI) Airline industry that suffered heavy losses during the Covid pandemic is returning to pre-Covid levels, and has recorded a traffic of 3.8 lakh passengers per day, Civil Aviation Minister Jyotiraditya Scindia informed the Rajya Sabha on Monday. Replying to supplementaries during Question hour, the minister said the civil aviation sector [...]
Guar gum futures gain on demand
New Delhi, Mar 14 (PTI) Guar gum prices on Monday gained Rs 213 to Rs 11,377 per five quintals in futures trade as speculators increased their holdings on spot demand. On the National Commodity and Derivatives Exchange, guar gum contracts for March delivery traded higher by 1.91 per cent or Rs 213 at Rs 11,377 [...]
Guar seed futures rise on fresh bets
New Delhi, Mar 14 (PTI) Guar seed prices on Monday rose by Rs 114 to Rs 6,249 per 10 quintals in the futures trade on firm trends at spot markets. On the National Commodity and Derivatives Exchange, guar seed for March delivery increased by Rs 114 or 1.86 per cent to Rs 6,249 per 10 [...]
Jubilant Foodworks shares slump 13% on CEO Pratik Pota’s exit; Analysts cut stock price targets
The company’s shares were locked at a 10% lower circuit in early trade on March 14. As compared to their 52-week high, the shares are down by 46.18%.He quit the company to pursue opportunities outside Jubilant FoodWorks.Pota has been credited for significantly improving the performance of the company after he was appointed as CEO in [...]
Feb WPI inflation spikes to 13.11% on costlier crude; food articles soften
The wholesale price-based inflation in February rose to 13.11 per cent on hardening of prices of crude oil and non-food items, even though food articles softened. After two months of mild easing, WPI inflation accelerated in February and remained in double digits for the 11th consecutive month, beginning April 2021. WPI inflation last month was [...]
OILSEEDS PRICES
MARCH 14,2022 MUMBAI, (PTI) OILS (per 10 Kgs) OILS (per 10 Kgs) G.Nut Raw 1630.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1800.00 Sunflower Exp.Ref. 1850.00 Cottonseed(Refined) 1590.00 Refined Palm Oil 1580.00 Soyabean Ref. 1580.00 Imp.Soyabean Crude - Rapeseed Ref. 1570.00 Rapeseed Exp. 1540.00 Copra white 1640.00 Rice Bran 4-7% FFA - Rice Bran [...]
COMMODITY PRICES
MUMBAI, MAR 14 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST. COPPER :- COPPER CABEL SCRAP 785.00 COPPER HEAVY SCRAPS 775.00 COPPER ARMATURE (CREDIT) 770.00 COPPER UTENSILS SCRAP 705.00 CC ROD 826.00 BRASS :- BRASS SHEET CUTTING 570.00 BRASS UTENSIL SCRAP 538.00 BRASS HONEY 515.00 ALUMINIUM :- ALUMINIUM UTENSIL SCARPS 205.00 ALUMINIUM EXTRUSION SCRAP 241.00 ALUMINIUM [...]
Piramal Pharma ropes in Ajay Devgn for brand Tetmosol
New Delhi, Mar 14 (PTI) Piramal Pharma on Monday said its consumer products division has roped in Bollywood actor Ajay Devgn for its flagship brand Tetmosol. Tetmosol is a medicated skin-care soap used in the treatment and prevention of skin infections. Piramal Pharma said it is now strengthening the brand offering by introducing Tetmosol Dusting [...]
MUM PEPPER COPRA CLOSING RATES
MUMBAI, MAR 14 (PTI) Mumbai :- PEPPER COPRA RATES :- BLACK PEPPER READY 560 / 620 GINGER BLEACHED -- GINGER UNBLEACHED 155 COPRA OFFICE ALAPUZHA 10300 COPRA OFFICE KOZIZODE 10000 COPRA RAJAPUR MUMBAI 11500 COPRA EDIBLE MUMBAI 12500 COCHIN COCONUT OIL ---- COCONUT OIL MUMBAI 1780 T.P ------------------ PTI MUM SVCSVC SVC
Hyundai introduces N Line range of merchandise
New Delhi, Mar 14 (PTI) Hyundai Motor India on Monday said it has launched the N Line range of merchandise to complement the launch of the i20 N Line premium hatchback in the country.The company had introduced motorsports inspired 'i20 N Line' in September last year."At a time when millennials are driving consumerism, we have [...]
Many states request GST compensation extension beyond 5 years: FM
New Delhi, Mar 14 (PTI) Many states have requested extension of the compensation mechanism under the GST beyond June 2022, Finance Minister Nirmala Sitharaman said on Monday. Under the Goods and Services Tax (GST) law, states were guaranteed to be compensated bi-monthly for any loss of revenue in the first five years of GST implementation [...]
J-K Budget presented in LS
New Delhi, Mar 14 (PTI) Finance Minister Nirmala Sitharaman on Monday presented a Rs 1.42 lakh crore budget for the union territory of Jammu and Kashmir for the year 2022-23 in the Lok Sabha, amid demands from the opposition that it be given adequate time for studying the proposals.Sitharaman also presented the supplementary demands for [...]
Renault launches new Kwid with price starting at Rs 4.49 lakh
New Delhi, Mar 14 (PTI) French carmaker Renault on Monday said it has launched new version of its entry-level model Kwid with price starting at Rs 4.49 lakh (ex-showroom). Available in both 0.8-litre and 1-litre petrol powertrains with manual and automatic transmission options, the updated Kwid features new interior and exterior colour harmony with white [...]
Xeno Raises USD 1.6M From Early Klaviyo Investors to Bring Commerce Marketing Automation to Emerging Markets
Aims to expand the team to support CRM requirements of the growing D2C segment ahead of 5G rollout Delhi, India – Business Wire India Xeno, the commerce marketing automation engine that guarantees incremental revenue has raised $1.6 million in a seed round from global funds including early Klaviyo backer TJ Mahony’s Vinyl Capital, Ankur Nagpal’s [...]
Govt plans to float EoI for its stake sale in IDBI Bank next month
New Delhi, Mar 14 (PTI) The government plans to invite expression of interest to sell its stake in LIC-controlled IDBI Bank by the next month-end, a senior official has said.As part of the divestment, the government plans to sell its entire 45.48 per cent stake eventually.The government may look to sell around a 26 per [...]
Renault-Nissan Alliance plant in Chennai crosses 35 lakh engine production mark
New Delhi, Mar 14 (PTI) The Renault-Nissan Alliance's Chennai-based manufacturing plant has crossed the 35-lakh cumulative engine production mark, according to a statement released on Monday. Since engine production began in 2010, the plant has manufactured 23 lakh engines and 12 lakh gearboxes. "The successful production of 3.5 million powertrain units at Renault-Nissan Alliance's plant [...]
Microfinance lenders cannot charge usurious interest rate: RBI
Microfinance lenders cannot charge usurious rate of interest from borrowers, the Reserve Bank said on Monday, and also asked them to put in place a ceiling on pricing of loans and related fees. A microfinance loan is defined as a collateral-free loan given to a household having an annual income of up to Rs 3 [...]
More trouble for Paytm investors as shares plunge 12%; Check what analysts are saying
One97 Communications Ltd’s shares plunged nearly 12% on Monday, hitting an all-time low of ₹ 672.10 apiece.The RBI barred Paytm Payments Bank Limited from onboarding new customers and directed Paytm to appoint an IT audit firm to conduct a full System Audit of its IT system.This is not the first time that the RBI has pulled [...]
Tapan Singhel gets 5-year extension as Bajaj Allianz General Insurance’s MD & CEO
New Delhi, Mar 14 (PTI) Bajaj Allianz General Insurance on Monday announced a five-year tenure extension of its managing director and CEO Tapan Singhel. The new term will be effective from April 1, 2022, Bajaj Allianz General Insurance said in a statement. Under Singhel's leadership, the company has emerged as one of the largest and [...]
ED investigating 7 cases of cryptocurrency usage in money laundering, attaches Rs 135 cr
New Delhi, Mar 14 (PTI) The Enforcement Directorate is investigating seven cases in which cryptocurrency has been used for money laundering and has so far attached proceeds of crime worth Rs 135 crore, Parliament was informed on Monday.Law enforcement agencies have flagged usage of cryptocurrency by cybercriminals and cases investigated by the ED under the [...]
Crude oil futures decline on low demand
New Delhi, Mar 14 (PTI) Crude oil futures on Monday dropped 2.65 per cent to Rs 8,114 per barrel as participants trimmed their positions on low demand. On the Multi Commodity Exchange, crude oil for March delivery fell by Rs 221 or 2.65 per cent to Rs 8,114 per barrel with a business volume of [...]
Yes Madam launches India’s first offline lounge , plans to expand with 12 more lounges in 2022
Yes Madam, India's most affordable and highest-rated beauty app launches an offline lounge to provide beauty services at Indirapuram Habitat Centre, Ghaziabad. Yes Madam, popular for their pocket-friendly and premium quality beauty services is now launching their services offline from 12th March. The lounge will be situated in Indirapuram Habitat Centre, Ghaziabad and the big [...]
Hero Electric ties up with L&T Finance for retail finance
New Delhi, Mar 14 (PTI) Hero Electric on Monday said it has joined hands with L&T Finance to offer consumers easy financing solutions for its entire product portfolio across its 750-plus dealership network. As part of the tie-up, customers can avail finance with no hypothecation, hassle-free-quick loan approvals in under three minutes, at attractive interest [...]
Lanka’s tourism to take a beating as foreign govts issue advisories for visitors amidst forex crisis
Colombo, Mar 14 (PTI) Sri Lanka’s ongoing forex crisis will further hit its tourism industry as the UK and Canada have warned their travellers to be aware of the current economic situation in the island nation. According to a latest advisory issued by the British government, the economic situation is deteriorating in Sri Lanka with [...]
The Resurgence Towards the New Normal Has Begun, Say Experts at the Economic Times Global Business Summit 2022
GBS 2022 concludes with global CEOs, opinion makers and government leaders offering insights and perspectives on a post-pandemic and rapidly evolving geo-political calculus, the disruption in economies and the path to the new normal, an accelerated move towards sustainability, better governance and tech-led innovations for the future. Mumbai, Maharashtra, India: The world is at the [...]
Comply Well Technologies Launches Two S-a-a-S Products
Bengaluru, Karnataka, India (NewsVoir) Comply Well Technologies Pvt. Ltd. has been established with the purpose of empowering and enabling industries to comply with complex statutory laws and rules of the nation. As part of its new initiative, Comply Well Technologies has launched couple of S-a-a-S products - C-Qube and H-Bot. Comply Well intends to release [...]
Alembic Pharma gets USFDA nod for generic product
New Delhi, Mar 14 (PTI) Alembic Pharmaceuticals on Monday said it has received approval from the US health regulator to market Macitentan tablets, which is used to treat high blood pressure, in the American market. The company said it has received tentative approval from the US Food and Drug Administration (USFDA) for its abbreviated new [...]
JGU Announces Study Abroad Programmes at World’s Top Universities including Oxford, Harvard, Wharton & Columbia
Sonipat, 14 March, 2022: In an extraordinary and unparalleled development in international education and global engagement for Indian students, O.P. Jindal Global University has announced 12 short-term Study Abroad programmes at the world’s leading universities. The 12 programmes are being offered at Harvard University, Columbia University, University of Pennsylvania (Wharton School), Syracuse University, University of [...]
Ashish Jain and Gautam Sinha Honoured at NBFC & FinTech Excellence Awards 2022
Pune, Maharashtra, India – Business Wire India LoanTap’s members Mr. Ashish Jain, CFO, LoanTap and Mr. Gautam Sinha, Senior Vice President, LoanTap were announced as winners at NBFC & FinTech Excellence Awards 2022 by the jury members recently in Mumbai. In the event, LoanTap won the “Rising Star – Consumer Loan Finance Company of the [...]
Solar PV cell maker Jupiter International garners Rs 170 cr from Edelweiss
New Delhi, Mar 14 (PTI) Solar photovoltaic (PV) cell manufacturer Jupiter International on Monday said it has raised Rs 170 crore from Edelweiss Alternative Asset Advisors Ltd. The company will utilise the funds as growth capital to enhance its solar PV cell manufacturing capacity, according to a statement. The fresh capital was raised through a [...]
Secure Top FD Rates and Invest Efficiently with Bajaj Finance Fixed Deposit
Pune, Maharashtra, India (NewsVoir) Returns on investment with market-linked instruments can be elusive, especially with global factors constantly interfering with local indices. However, investors can forecast their earnings with certainty with a fixed-income instrument like the Bajaj Finance Fixed Deposit. To help investors plan for their future goals, Bajaj Finance even offers a convenient online [...]
CRG Solutions Recognized with India Partner of the Year in 2021 Tableau Partner Awards
MUMBAI, India, March 14, 2022 /PRNewswire/ -- CRG Solutions, the Select Reseller Partner of Tableau in India announced that it has won the India Partner of the Year in the 2021 Tableau Partner Awards. These awards were presented during Tableau's Partner Executive Kick-Off in March 2022. CRG Solutions won the India Partner of the Year [...]
Ruchi soya hits 20% upper circuit on FPO announcement
Shares of Ruchi Soya Industries Ltd. skyrocketed 20.18% in early trade on Monday as the edible oil firm said that it will raise up to ₹ 4,300 crores from the capital market with its follow on public offer (FPO). Ruchi Soya’s shares are now locked at ₹ 964.40 apiece. The issue will open on March [...]
People4People sets up its 500th playground in government schools across 6 states in India
BENGALURU, India, March 14, 2022 /PRNewswire/ -- People4people, a Bengaluru based trust, has completed a milestone by installing over 500 playgrounds for children in Government schools, primarily in Karnataka but also in other states such as Tamil Nadu and Jharkhand. Outdoor play equipment such as slides and climbers are important for a child's physical, and [...]
MUM BULLION OPENING RATES
MUMBAI, MAR 14 (PTI) OPENING RATES SILVER SPOT (IN RS PER KILO) : 69203.00 STANDARD GOLD (99.5) : 51943.00 PURE GOLD (99.9) : 52152.00 -------------------- PTI MUM SVCSVC SVC
DLF to invest Rs 550 cr to construct 1-mn-sqft office building in Chennai for StanChart GBS
Chennai, Mar 14 (PTI) Realty major DLF on Monday announced an investment of around Rs 550 crore to construct a one-million-square-feet office building for Standard Chartered Global Business Services' largest campus globally. Tamil Nadu Chief Minister M K Stalin laid the foundation stone of the office campus in 'DLF Downtown' project at Taramani in Chennai. [...]
MUM PEPPER COPRA OPENING RATES
MUMBAI, MAR 14 (PTI) Mumbai :- PEPPER COPRA RATES :- BLACK PEPPER READY 560 / 620 GINGER BLEACHED -- GINGER UNBLEACHED 155 COPRA OFFICE ALAPUZHA 10300 COPRA OFFICE KOZIZODE 10000 COPRA RAJAPUR MUMBAI 11500 COPRA EDIBLE MUMBAI 12500 COCHIN COCONUT OIL ---- COCONUT OIL MUMBAI 1780 T.P ------------------ PTI MUM SVCSVC SVC
SBI-DIRECT EXCHANGE RATES
MUMBAI, MAR 14 (PTI) FOLLOWING ARE THE DIRECT RATES OF EXCHANGE (DPE) AS ANNOUNCED BY THE STATE BANK OF INDIA HERE TODAY. ( ALL RATES IN RUPEES PER UNIT ).CURRENCY TTBUY TTSEL BILLBUY TTSEL CODE USD/INR 75.90 77.40 75.84 77.56 EUR/INR 82.16 85.00 82.10 85.16 GBP/INR 98.14 101.33 98.06 101.53 JPY/INR 64.00 66.13 63.95 66.26 [...]
Zydus Lifesciences gets USFDA nod to market generic version of colestipol hydrochloride tablets
New Delhi, Mar 14 (PTI) Zydus Lifesciences Ltd on Monday said it has received the final approval from the US health regulator to market its generic version of colestipol hydrochloride tablets, which is used to lower cholesterol. The approval by the US Food and Drug Administration is for colestipol hydrochloride of 1 mg strength, the [...]
VVDN Enters Into a Strategic Alliance With Blue Star For Co-Developing and Manufacturing New-Generation Controllers For Air Conditioners
GURUGRAM, India, March 14, 2022 /PRNewswire/ -- VVDN Technologies, a premier product engineering and manufacturing company, today announced its strategic alliance with Blue Star, a leading air conditioning and refrigeration company in India. With this alliance, VVDN will be co-developing and manufacturing new generation controllers for residential and commercial AC segments. VVDN, with its rich [...]
RBI-MONEY MARKET OPERATIONS
MUMBAI, Mar 14, (PTI) Money Market Operations as on March 11, 2022 (Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume Weighted (One Leg) Average Rate RANGE A. Overnight Segment 503,056.39 3.29 0.01-5.25 I. Call Money 8,495.81 3.28 2.00-3.50 II. Triparty Repo 368,832.30 3.26 3.00-3.51 III. Market Repo 125,648.48 3.37 0.01-3.55 IV. Repo [...]
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