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Tata Group stock hits 20% upper circuit after its revenue increases by 610% in Q2
Tata Group stock engaged in designing, developing, and manufacturing high-performance and future-ready products for high-speed communication networks hit a 20 percent upper circuit in the day’s trade upon declaring robust Q2FY25 results with a 255 percent jump in Net Profits. Price Action With a market capitalization of Rs. 23,051 Crores, the shares of Tejas Networks [...]
Navratna stock jumps 10% after receiving order from Andra Pradesh Power Generation Corp.
The shares of this public-sector enterprise gained up to 3 percent after the company received a work order from Andhra Pradesh Power Generation Corporation, worth Rs 53.5 crore. Rites Ltd has a market capitalization of Rs 14,583.92 crore, the shares were trading at Rs 303.45 per share, increasing around 0.18 percent as compared to the [...]
Defence stock jumps 6% after receiving order worth ₹491 Cr from Min. of Defence
The shares of the leading shipyards company gained up to 6 percent after the company bagged a prestigious work order from the Naval Physical & Oceanographic Laboratory for Rs 491 crore. Garden Reach Shipbuilders & Engineers Ltd has a market capitalization of Rs 20,998.53 crore, the shares were trading at Rs 1,833.10 per share, increasing [...]
Monopoly stock jumps after company’s net profit increases by 910% YoY
The share price of India's leading commodity derivatives exchange rose by 2 percent on Monday following a remarkable 910 percent YoY increase in net profits. This surge was also driven by strong revenue growth reported in its recent quarterly results. Share Price Movement In Monday’s trading session, Multi Commodity Exchange of India Ltd's (MCX India) [...]
PSU stocks in which mutual funds increased their stake by 4%; Do you own any?
The total assets under management (AUM) for the mutual fund industry reached nearly Rs. 67.1 trillion in September 2024, reflecting a 0.6 percent month-on-month increase. This growth was primarily driven by an increase in equity funds, which rose by Rs. 1,074 billion, balanced funds by Rs. 167 billion, and other ETFs by Rs. 159 billion. [...]
Solar stocks jumps after company to develop India’s first and largest green steel production plant
The shares of the solar advisory and execution services provider gained 2.3 percent after the company announced a partnership to develop India’s first and largest green steel production facility. With a market capitalization of Rs 3,150.8 crore, the shares of Gensol Engineering Ltd were trading at Rs 829.00 per share, increasing around 0.55 percent as [...]
Financially strong EV stock with strong future growth potential and capex of ₹5000 Cr
The auto components and equipment industry in India is a critical sector, contributing 2.3% to the GDP and employing 1.5 million people. With a projected growth rate of 20-23% annually, it aims to reach a market size of $200 billion by 2026, driven by rising domestic demand and exports. With a market capitalization of Rs [...]
Stocks in Focus: 5 Companies that are announcing Q2 results next week
Investors anxiously anticipate the second-quarter earnings figures, which are due to be revealed next week. Analysts analyze organizations' financial performance to predict market reactions based on sales, profit, and strategic outlooks. The findings will certainly impact market sentiment and investment decisions in the future. Here are the 5 companies that are set to publish quarterly [...]
3 Stocks in green energy sector coming up with IPOs to keep in your radar
India has achieved a major milestone in its renewable energy efforts, with the country’s total renewable energy capacity crossing the 200 GW (gigawatt) mark as of October 2024. The Central Electricity Authority reported that the current renewable energy generation capacity is now at 201.45 GW. When including the 8,180 MW (megawatts) of nuclear capacity, the [...]
18 Stocks in which mutual funds bought shares in September to keep an eye on
The total assets under management (AUM) for the mutual fund industry reached nearly Rs. 67.1 trillion in September 2024, reflecting a 0.6 percent month-on-month increase. This growth was primarily driven by an increase in equity funds, which rose by Rs. 1,074 billion, balanced funds by Rs. 167 billion, and other ETFs by Rs. 159 billion. [...]
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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
Medical Education App Docemy Launches Scholarship Program For Students to Bolster Learning
BANGALORE, India, March 14, 2022 /PRNewswire/ -- MBBS education app Docemy is kickstarting Scholar program, where students can win microscholarships ranging from Rs. 50 to Rs. 5000. This exclusive rewards program for medical students is designed to help them find motivation and engagement while pursuing their four and a half year long course. During these [...]
Didn’t join politics to check prices of ‘aloo & tamatar’: Pakistan PM Imran Khan
Lahore, Mar 13 (PTI) Pakistan Prime Minister Imran Khan said on Sunday that he did not join politics to check the prices of 'aloo and tamatar', as he attacked the Opposition parties for tabling a no confidence motion against him in Parliament, accusing him for mismanaging the economy amidst spiralling inflation.Addressing a political rally in [...]
Jabalpur airport operations resume a day after plane overshot runway
Jabalpur, Mar 13 (PTI) Operations at Jabalpur airport in Madhya Pradesh resumed on Sunday night, a day after a plane with 55 passengers on board overshot the runway, an official said. The operations at the Dumna airport resumed around 8 pm, airport director Kusum Das told PTI. A DGCA (Directorate General of Civil Aviation) team [...]
One-stop shop for organic plants, garden needs launched in Coimbatore
Coimbatore, Mar 13 (PTI) City-based T Stanes and Company Ltd has taken another leap in its 160-year-old history by launching its Stanes Garden Centre to cater to the need of organic farmers. The garden centre, which is spread across a sprawling one acre land in the heart of the city, aims to promote urban agriculture [...]
J-K farmers get basic training under ‘Aroma Mission 2’
Bhaderwah (J&K), Mar 13 (PTI) As many as 100 farmers from different villages of Chenab valley were on Sunday imparted basic technical know-how to grow aromatic plants under the Union Government's 'Aroma Mission 2', officials said. The Council of Scientific and Industrial Research-Indian Institute of Integrative Medicine (CSIR-IIIM) Jammu organized the day-long training cum awareness [...]
Special reserve fund cushioned Khadi units against steep price hike of raw cotton: KVIC
New Delhi, Mar 13 (PTI) A special reserve fund set up in 2018 to deal with market fluctuations and other eventualities has acted as a saviour for Khadi institutions by cushioning them against the steep price hike of raw cotton, the Khadi and Village Industries Commission said on Sunday. In 2018, KVIC had decided to [...]
Looking at creating a fund for agritech startups: Goyal
New Delhi, Mar 13 (PTI) The government is looking at creating a fund for agritech startups, Commerce and Industry Minister Piyush Goyal said on Sunday. The government is looking at significant participation of startups in defence R&D as huge opportunities are there in drones, defence and technical textile sectors for entrepreneurs, the minister said at [...]
CSC Academy, GD Goenka University partner for higher education, skilling courses
New Delhi, Mar 13 (PTI) Government promoted CSC SPV on Sunday said its education and CSR wing -- CSC Academy -- has signed a memorandum of understanding with GD Goenka University to deliver higher education courses and skilling programmes to students across the country. With the partnership, the CSC Academy centres will be able to [...]
Need to overhaul regulatory structure to promote technology development: Telecom Minister
New Delhi, Mar 13 (PTI) The government is looking to overhaul the regulatory structure to facilitate development of technology and interaction with industry as a partner and not as adversaries, telecom minister Ashwini Vaishnaw said on Sunday. Addressing the inaugural session of a TDSAT seminar, Vaihsnaw said that the system entangled everybody and some people [...]
JPDA seeks PM’s intervention to stop ‘unethical and allurement tactics’ in pharma biz
Jammu, Mar 13 (PTI) Expressing concern over "unethical and allurement tactics" adopted by multi-brand companies involved in the medicine business, Jammu Pharmaceutical Distributors Association (JPDA) on Sunday sought the intervention of Prime Minister Narendra Modi in safeguarding this "noble trade" in the interest of healthcare. JPDA President Rakesh Gupta claimed that "price war and massive [...]
Shriram Housing Finance looks to double loan-book to Rs 10,000 cr by FY24
Mumbai, Mar 13 (PTI) The fifth largest affordable housing player Shriram Housing Finance has set a target of doubling its loan-book to Rs 10,000 crore and become the third largest player by FY2024 on the back of a 45 per cent growth this fiscal at around Rs 5,300 crore. Shriram Housing Finance, promoted by Shriram [...]
Amritsar airport fiasco: SpiceHealth, AAI pass the buck on ‘contamination’ of COVID-19 testing machines
New Delhi, Mar 13 (PTI) SpiceHealth and the Airports Authority of India (AAI) are putting the onus on each other for the "contamination" of COVID-19 testing machines at the Amritsar airport that led to approximately 64 percent of the passengers on two international flights falsely testing positive on arrival in January.SpiceHealth, which was then operating [...]
Fertiliser subsidy may exceed RE by Rs 10K cr; fiscal deficit to remain close to 6.9% in FY22
New Delhi, Mar 13 (PTI) The government's fertiliser subsidy bill in the current fiscal year may go up by about Rs 10,000 crore due to the Russia-Ukraine war, but higher tax revenues will help keep fiscal deficit close to the estimated 6.9 per cent level, an official said. The official further said the oil prices are [...]
M1xchange eyes doubling customer base, transaction value of Rs 30K cr in FY23
New Delhi, Mar 13 (PTI) M1xchange, an online platform for discounting trade receivables of MSMEs, is targeting to double its customer base and hit transaction value of Rs 30,000 crore in the next fiscal year, as the market has huge growth potential, the company's top official said. The invoice discounting of the due payments of [...]
Birla Estates targets Rs 11,000 cr sales revenue from 14-acre luxury housing project at Worli, Mumbai
New Delhi, Mar 13 (PTI) Realty firm Birla Estates expects sales revenue of around Rs 11,000 crore from its newly launched luxury housing project in south Mumbai and has already sold properties worth Rs 1,000 crore, its CEO K T Jithendran said. Birla Estates Pvt Ltd, which is a wholly-owned subsidiary of BK Birla group's [...]
Paytm founder held in Feb for hitting South Delhi DCP’s car, released on bail
New Delhi, Mar 13 (PTI) Paytm founder and CEO Vijay Shekhar Sharma was arrested and granted bail last month for allegedly ramming his car into the official vehicle of the Deputy Commissioner of Police (South), the Delhi Police said on Sunday. The incident took place on February 22. Sharma was arrested the same day and [...]
India’s post-pandemic eco recovery progressing well; high oil prices pose risks: Ashima Goyal
New Delhi, Mar 13 (PTI) India's economic recovery from COVID-19 is progressing well, with better than expected growth rates, and the trajectory will continue but persistently high oil prices can play spoilsport, eminent economist Ashima Goyal said on Sunday. Goyal, who is also a member of the Monetary Policy Committee (MPC) of the RBI, further said [...]
GAIL declares record dividend for FY22
New Delhi, Mar 13 (PTI) State-owned gas utility GAIL (India) Ltd has declared a second interim dividend of 50 per cent (Rs 5 per share) for the current fiscal year ending March 31, 2022. The total dividend payout will be Rs 2,220.19 crore with a record date of March 22, the company said in a [...]
From soaring gas prices to another world war, economic sanctions can lead to dire unintended consequences
Toronto, Mar 13 (The Conversation) Western governments have united to bring in a number of serious economic sanctions against Russia in retaliation for its violence in Ukraine, including the latest announcement that the US is revoking Russia’s “most favoured nation” status that will impose new trade tariffs.The moves were not a surprise.The US and its [...]
Sanctions against Russia are targeting the ‘elite’ – but did that work in Iran?
Ottawa, Mar 13 (The Conversation) The wave of sanctions that has followed Russia’s invasion of Ukraine has been described with adjectives such as “massive” and “severe.” Another word has also often been used to describe sanctions on Russia: “targeted.” Ursula von der Leyen, the head of the European Commission, has even used both words side [...]
RattanIndia Enterprises looks to tie up with all banks by March 2023 for fintech platform
New Delhi, Mar 13 (PTI) RattanIndia Enterprises, which recently made a foray into the fintech business, looks to have tie-ups with all the banks by the end of the next financial year. The fintech platform of the company, BankSe, has an arrangement with 21 banks and financial firms to offer loan products, at present. "Plan [...]
Macleods Pharmaceuticals recalls products in US for mfg issues
New Delhi, Mar 13 (PTI) Macleods Pharmaceuticals is recalling two products in the US market due to deviation from standard manufacturing norms, according to a USFDA report. According to the latest enforcement report issued by the US Food and Drug Administration (USFDA), the US-based arm of the drug firm is recalling 3,672 bottles of Amlodipine [...]
MP power load dispatch centre gets additional cyber security
Jabalpur, Mar 13 (PTI) The MP Power Transmission Company Limited's (MPPTCL) load dispatch centre here has been provided additional cyber security, after the facility was recently recognised as a 'heritage critical and protected system' by the Union government, an official said on Sunday. The MPPTCL set up a cyber security system at the state load [...]
6 stocks to buy and hold for the next 12 months – ICICI Securities
India has become the fifth most valued stock market in the world after markets from the US, China, Japan, and Hong Kong. Equity markets, especially in India, are being impacted by the Russia-Ukraine conflict, which has resulted in sustained selling by foreign institutional investors (FII). Amid changes, ICICI Securities has recommended these 6 stocks that [...]
Russia-Ukraine issue, Fed rate decision crucial factors for markets: Analysts
New Delhi, Mar 13 (PTI) The Russia-Ukraine issue, the US Fed interest rate decision and release of domestic inflation data are some of the major factors that will drive the stock markets in a holiday-shortened week, analysts said. Market experts believe that stock markets are likely to stay volatile until the existing headwinds subside. "FOMC [...]
India will continue to be important, high potential market: Rolls-Royce
Aerospace and defence technology major Rolls-Royce plc on Saturday said India will continue to be an “important and high potential” market for the company. Speaking at The Economic Times Global Business Summit Rolls-Royce plc Chief Executive Warren East CBE said that India is not only among the few large economies to have managed a very [...]
Diageo India to acquire minority stake in gin-maker Nao Spirits for Rs 31.5 cr
New Delhi, Mar 12 (PTI) Diageo-controlled United Spirits Ltd (USL) on Saturday said it will acquire a minorirty 22.5 per cent stake in Nao Spirits for Rs 31.5 crore. Diageo India will also have a call option to acquire the remaining shares on "pre-agreed principles" in Nao Spirits & Beverages Private Ltd, a joint statement said. Launched [...]
Provident fund interest rate cut to 4-decade low of 8.1 pc
New Delhi, Mar 12 (PTI) Interest rate on employees' provident fund deposits on Saturday was cut to a four-decade low of 8.1 per cent for the 2021-22 fiscal from 8.5 per cent in the previous year. This is the lowest interest rate since 1977-78 on deposits that employees make towards their retirement fund. Interest rate [...]
MUFG establishing USD 300 mn fund to invest in Indian start ups
Mumbai, Mar 12 (PTI) Japanese financial group Mitsubishi UFJ Financial Group (MUFG) is establishing a USD 300 million fund to invest exclusively in Indian start ups, a senior official said on Saturday. "MUFG is establishing a 300 million US dollar fund named MUFG Ganesha Fund to invest exclusively in seeding Indian start ups," MUFG's Member [...]
Govt invites suggestions, feedback on proposed policy for medical devices sector
New Delhi, Mar 12 (PTI) The government has sought feedback and suggestions from the industry and other stakeholders till March 25 regarding the upcoming national policy for the medical devices sector, an official release said on Saturday. The Department of Pharmaceuticals (DoP) has released on its website, an approach paper for the Draft National Policy [...]
Ukraine conflict: Tata Steel seeks alternative to Russian coal
Kolkata, Mar 12 (PTI) Tata Steel Ltd is looking at alternative markets for imports of coal as it faces uncertainties with its Russian suppliers and bankers, amid the Russia-Ukraine conflict, a company official said on Saturday. The geopolitical situation after Russia's invasion of Ukraine has also opened up steel export opportunities in Europe, following a [...]
Govt to organise ‘Consumer Empowerment Week’ during Mar 14-20
New Delhi, Mar 12 (PTI) The Consumer Affairs Department will organise 'Consumer Empowerment Week' during March 14-20, coinciding with World Consumer Rights Day. In an official statement, the department said that the 'Consumer Empowerment Week' to celebrate and commemorate 75 years of progressive India and the glorious history of its people, culture and achievements. The [...]
Media stock turns multibagger in a span of 6 months – Rs 72 to Rs 169
The Media multibagger stock has given a return of 216.64% within a span of just one year. In the same period last year, the stock traded at Rs 53.50 per share. The stock seems to be making up for the lost momentum since inception. Over the last 6 months, the stock has earned investors 132.21%. The [...]
Provident fund interest rate cut to four – decade low of 8.1%
Interest rate on employees' provident fund deposits on Saturday was cut to a four-decade low of 8.1 per cent for the current 2021-22 fiscal from 8.5 per cent in the previous year. This is the lowest interest rate since 1977-78 on deposits that employees make towards their retirement fund. Interest rate on employees provident fund [...]
Govt targeting construction pace of 50 km/day for NH
New Delhi, Mar 12 (PTI) Union minister Nitin Gadkari on Saturday said the government is targeting a pace of 50 km per day for national highways' construction in the country, and expressed hope that the pace in the current fiscal year will be higher than that in 2020-21. Addressing 'ET Global Business Summit' virtually, Gadkari said the [...]
CPI leader urges FM to reconsider EPFO rate slash
New Delhi, Mar 12 (PTI) CPI MP Binoy Viswam on Saturday urged Finance Minister Nirmala Sitharaman to reconsider the decision of reducing the EPFO interest rate accusing the government of “throwing the working class under the bus”. In a letter he wrote to the minister, Viswam accused the BJP-led government of showing its “true colours” [...]
Taking over from IRCTC, railways to now open over 100 food plazas at stations to generate revenue
New Delhi, Mar 12 (PTI) The railways will now open food plaza, fast food units and multi-cuisine restaurants, taking over from its catering arm IRCTC, in a bid to generate non-fare revenue, according to an order issued by the Railway Board. The Indian Railway Tourism and Catering Corporation (IRCTC), which is responsible for serving food [...]
Auto firms will begin manufacturing flex-fuel vehicles within 6 months: Gadkari
New Delhi, Mar 12 (PTI) Union minister Nitin Gadkari on Saturday said top officials of automobile companies have promised him that they will start manufacturing vehicles of flex-fuel variants within six months. Addressing 'ET Global Business Summit' virtually, Gadkari further said the government is working on a plan to shift public transport to 100 per cent clean energy [...]
Bureau of Indian Standards seizes sub-standard pressure cookers, helmets
New Delhi, Mar 12 (PTI) Bureau of Indian Standards (BIS) has seized 1,032 pressure cookers and 936 helmets which were found to be without ISI mark and violated the Quality Control Orders (QCO), the government said on Saturday. The BIS has conducted search and seizure operation for violation of QCO on helmets and pressure cookers, [...]
Reprocessing scrap will boost India’s steel production: Minister Ram Singh
Dubai, Mar 12 (PTI) Union Steel Minister Ram Chandra Prasad Singh on Saturday said production of steel in India will increase in the years to come as it expands scale of reprocessing scrap materials. Speaking to PTI here, Singh said as part of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) it will be easier for [...]
RBI lifts all restrictions on HDFC Bank; permits new digital launches
New Delhi, Mar 12 (PTI) The RBI has lifted all restrictions on HDFC Bank, permitting it to launch new digital initiatives, the private sector lender said on Saturday. "We would like to inform one and all that the Reserve Bank of India (RBI) has lifted the restriction on the business generating activities planned under the [...]
Govt launches initiative to push start-ups in water sector
New Delhi, Mar 12 (PTI) Union Minister Hardeep Singh Puri on Saturday launched the ‘India WaterPitch-Pilot-Scale Start-up Challenge’, under which the government will select 100 start-ups and they will be provided with Rs 20 lakh each as funding support as well as mentorship, a statement said. According to the Ministry of Housing and Urban Affairs, [...]
Adobe aspires to run global businesses out of India, says Chairman and CEO Narayen
Mumbai, Mar 12 (PTI) Adobe Chairman and CEO Shantanu Narayen on Saturday said the software major's aspirations for India are not just related to products but to run global businesses from the country. He also said the company's employees in India are responsible for major part of every aspect of Adobe's business. "Our aspirations for [...]
SRM AP Launches National Talent Hunt for Admissions through PAN-India Hackathon
Andhra Pradesh, India (NewsVoir) SRM University-AP, the choice destination of next-generation, has taken a unique initiative, one-of-its-kind in higher education, to launch a National Talent Hunt Hackathon in collaboration with Dare2Compete. The competition aims to reach out to talented GenZ with a flair for coding. It is scheduled to be held online with two stages [...]
Interest rate on provident fund cut to four-decade low of 8.1 pc
New Delhi, Mar 12 (PTI) Interest rate on employees' provident fund deposits on Saturday was proposed to be cut to a four-decade low of 8.1 per cent for the current 2021-22 fiscal from 8.5 per cent in the previous year, sources said. This is the lowest interest rate since 1977-78 on deposits that employees make [...]
Ferns N Petals gets Rs 200 cr funding from Lighthouse India Fund III
New Delhi, Mar 12 (PTI) Gifting platform Ferns N Petals on Saturday said Lighthouse India Fund III has invested Rs 200 crore (USD 27 million) in it. The company plans to use the funds to invest in improving its systems and technology to enhance customer experience for all gifting occasions, Ferns N Petals (FnP) said [...]
India needs USD 20 bn annual investments to achieve climate targets: Report
New Delhi, Mar 12 (PTI) India needs USD 20 billion (about RS 1.53 lakh crore) worth of investments each year to achieve its climate targets and fund its green transition, according to a report. The white paper by Ficci and Trilegal highlights that the country needs a large budget allocation, international finance from bilateral and [...]
Sachin Bansal’s Navi Technologies files draft papers for Rs 3,350-cr IPO
New Delhi, Mar 12 (PTI) Sachin Bansal-led Navi Technologies has filed preliminary papers with Sebi to raise Rs 3,350 crore through an initial public offering (IPO). The proposed IPO is completely through a fresh issue of equity shares and there will be no offer-for-sale (OFS), according to the draft red herring prospectus [...]
India, Sri Lanka sign agreement to build solar power plant in island nation
Colombo, Mar 12 (PTI) India and Sri Lanka have signed an agreement for developing a 100 megawatt solar power plant in the island nation's eastern port district of Trincomalee, as part of the efforts to strengthen bilateral economic partnership, including through cooperation in the renewable energy sector. The signing ceremony took place on Friday at [...]
Textile min receives applications from 67 firms for PLI in man-made fibres, techtex
New Delhi, Mar 12 (PTI) The textile ministry has received applications from as many as 67 companies to avail benefits of the production linked incentive (PLI) scheme for man-made fibres and technical textile sectors, a top government official said on Saturday. The PLI scheme for textiles covers 40 man-made fibre (MMF) garment items, 14 MMF [...]
Invest in AAA-rated Bajaj Finance Fixed Deposit to Enjoy 7.05 percent p.a. Growth
Pune, Maharashtra, India (NewsVoir) With global events sparking uncertainty and infusing a fresh dose of volatility into the market, investors may be eager to trade risk for fixed returns. Bajaj Finance Fixed Deposit, for instance, removes the “fear factor” as its returns are not linked to the market’s performance. It offers an FD rate of [...]
RERA implementation to improve post SC direction on examining states’ rules: FPCE
New Delhi, Mar 12 (PTI) Homebuyers' apex body FPCE expects the implementation of realty law RERA to improve following the Supreme Court's recent direction to the Centre to examine the rules framed by states and see whether those subserve the consumers' interest. Last month, the Supreme Court directed the Centre to examine whether the rules [...]
EPFO fixes 8.1% as interest rate on EPF deposits for 2021-22
New Delhi, Mar 12 (PTI) Retirement fund body EPFO on Saturday decided to lower the interest on provident fund deposits for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent provided in 2020-21, sources said. This is the lowest since 1977-78, when the EPF [...]
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EPFO fixes 8.1 pc as rate of interest on EPF deposits for 2021-22: Sources. PTI KKS ANZ KKS ABM ABM
Ruchi Soya to launch follow-on public offer on March 24; looking to raise up to Rs 4,300 cr
Edible oil firm Ruchi Soya, which is owned by Baba Ramdev-led Patanjali Ayurved, will hit the capital market with its follow-on public offer (FPO) on March 24 to raise up to Rs 4,300 crore. In a regulatory filing late on Friday, Ruchi Soya said a committee of the board has approved and adopted the red [...]
NIVEA India Ranked as India’s No. 1 Trusted Brand in the Skin Care Category in 2022 by TRA
The brand was also ranked No.1 in the skin care category in the 2020 report published Mumbai, Maharashtra, India (NewsVoir) Trusted, loved and always caring, NIVEA India has been recognized as India’s No. 1 Trusted Brand 2022 in the category of Skin Care by the prestigious brand intelligence firm TRA research. This is the second [...]
The Economic Times Global Business Summit 2022 Gets Underway
India – Business Wire India Over two days—March 11 and March 12, 2022— prominent national and international figures, global CEOs, opinion makers and government leaders share their insights on the theme ‘The Great Resurgence: Now, Next & Beyond’ that encompasses a post-pandemic and rapidly evolving geo-political calculus, the disruption in economies and the path to [...]
EV stock that has given more than 190% returns in a year; is it a good buy?
The shares of Olectra Greentech, an Indian EV major, traded at Rs. 226 a year ago has risen to provide 194.6% returns and currently trades at Rs. 663.95. The stock has turned out to be a gold mine for long term investors providing 851.1% returns over the last 5 years and increasing a whopping 23 [...]
Odisha, Nabard join hands to increase fish production
Bhubaneswar, Mar 12 (PTI) The Odisha government and the National Bank for Agriculture and Rural Development (Nabard) have inked a pact for the creation of fisheries infrastructure to augment fish production in the state.The memorandum of agreement was signed between Principal Secretary, Finance, Vishal Dev and Nabard chief general manager C Udayabhaskar on Friday, according [...]
2 Realty stocks recommended by Angel One for short term
India's real estate sector is witnessing a healthy increase in demand and the overall market outlook is bright for the real estate industry. Brokerage firm Angel One has given targets for these real estate stocks. Sobha Ltd- Target ₹ 1050 Sobha Limited is an Indian multinational real estate developer that offers residential as well as [...]
SoftBank in talks with Tatas, Mahindra for stake buy in subsidiary: Top official
Mumbai, Mar 11 (PTI) Japanese investor SoftBank Investment Advisers is in talks with Tatas and Mahindras for a stake buy in one of their subsidiaries, a top official said on Friday. The talks have been on for the last six months and both the conglomerates represent an interesting opportunity to invest, courtesy strong brand presence [...]
Travel demand picking up: Booking Holdings
Mumbai, Mar 11 (PTI) Bookings in the travel industry are picking up pace, and 2022 will be another recovery year for the sector, Booking Holdings President and CEO Glenn Fogel said on Friday."It's been a difficult time for the travel industry for the last two years...But the interesting thing is that people always want to [...]
NSE co-location scam: CBI opposes bail plea by former GOO, Delhi court reserves order
New Delhi, Mar 11 (PTI) The CBI on Friday opposed before a Delhi Court the bail application by Anand Subramanian in National Stock Exchange (NSE) co-location scam case, saying that the former group operating officer (GOO) impersonated as a “Himalayan Yogi” and influenced the decision making of former managing director and chief executive officer Chitra [...]
CEPA to help new biz, create jobs in India, UAE: Zeyoudi
Mumbai, Mar 11 (PTI) Comprehensive Economic Partnership Agreement (CEPA) between India and the United Arab Emirates will enhance the exports between the countries and help create jobs and new businesses, UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi said on Friday."The signing of CEPA between India and UAE is going to [...]
RBI again bars Paytm Payments Bank from opening new accounts
Mumbai, Mar 11 (PTI) The RBI on Friday asked Vijay Shekhar Sharma- promoted Paytm Payments Bank to stop opening new accounts amid "material supervisory concerns" observed in the bank. This is the third time that Paytm Payments Bank is facing action from the banking regulator since its inception in May 2017. It has been prohibited [...]
Airtel selects Nuronics Labs, Enthu.Ai, Chimes Radio for accelerator programme
New Delhi, Mar 11 (PTI) Telecom operator Bharti Airtel has selected three startups - Nuronics Labs, Enthu.Ai and Chimes Radio - for its accelerator programme, the company said on Friday.The startups were declared winners of the 'Airtel India Startup Innovation Challenge', organised in partnership with Invest India."The three winners of the competition will get access [...]
India’s merchandise exports likely to be at USD 111.3 bn in Q4 FY22: Exim Bank
Mumbai, Mar 11 (PTI) The country's merchandise exports are likely to be at USD 111.3 billion in the fourth quarter of the current fiscal, according to a forecast by India Exim Bank.Non-oil exports are expected to be at USD 95.2 billion in Q4 FY22, with total merchandise outbound shipment exceeding USD 414 billion for FY [...]
QR code-based GI tag to discourage counterfeit production of Kashmiri carpets
New Delhi, Mar 11 (PTI) Implementation of QR-code based Geographical Indication (GI) tag for Kashmiri hand-knotted carpets will discourage their counterfeit production and enable buyers to identify authenticity of carpets produced in the union territory, an official said on Friday. The QR-code based mechanism has recently been introduced for the purpose of testing and certification [...]
JNPT to invest Rs 4,300 cr under PM Gati Shakti project
Mumbai, Mar 11 (PTI) The nation's largest container port JNPT on Friday said it will invest around Rs 4,300 crore under the PM Gati Shakti project to develop the second phase of the fourth terminal and an SEZ. Addressing the media here, port trust chairman Sanjay Sethi said these projects will go a long way [...]
Govt appoints ex-financial services secretary Debasish Panda as IRDAI chief
New Delhi, Mar 11 (PTI) The government on Friday appointed former financial services secretary Debasish Panda as chairman of the Insurance Regulatory and Development Authority of India (IRDAI). The Appointments Committee of the Cabinet has approved Panda's appointment as chairperson of the insurance regulator initially for a period of three years from the assumption of [...]
PFC pays Rs 887 cr as interim dividend to govt for FY22
New Delhi, Mar 11 (PTI) Power Finance Corporation on Friday said it has paid Rs 886.97 crore as an interim dividend to the government for the financial year 2021-22.This is in addition to Rs 333 crore and Rs 370 crore paid as first and second interim dividend, respectively, earlier, Power Finance Corporation (PFC) said in [...]
J&K govt sets up honey processing unit in Jammu
Jammu, Mar 11 (PTI) The Jammu and Kashmir government has set up a honey processing unit in the winter capital of the Union Territory and registered 340 beekeepers of the Jammu division for the facility.KK Sharma, Director, Agriculture Production & Farmers Welfare, Jammu, inaugurated a 100 kilograms capacity unit established under the apiculture development scheme at [...]
Unacademy eyeing IPO in next couple of years: Co-founder
New Delhi, Mar 11 (PTI) Edtech firm Unacademy expects to go public in the next couple of years and is looking to make its core business of test preparation profitable in the next 12 months, a top company official said on Friday. Unacademy Group co-founder and CEO Gaurav Munjal also said the company is looking [...]
IREDA inks pact to solarise CIPET campuses
New Delhi, Mar 11 (PTI) The Indian Renewable Energy Development Agency Ltd (IREDA) on Friday signed a pact with the Central Institute of Petrochemicals Engineering & Technology (CIPET) to provide techno-financial expertise for solarisation of its campuses. IREDA and CIPET function under the Ministry of New and Renewable Energy (MNRE) and the Ministry of Chemicals [...]
Torrent Power completes acquisition of Surya Vidyut Ltd
New Delhi, Mar 11 (PTI) Torrent Power on Friday said it has completed the acquisition of wind energy firm Surya Vidyut Limited from CESC Limited.Surya Vidyut was a wholly-owned subsidiary of CESC Limited with a total capacity of 156 megawatts (MW)."Pursuant to share purchase agreement between Torrent Power Limited and CESC Limited, Haldia Energy Limited [...]
FM invites Canadian pension funds to invest in infra projects
New Delhi, Mar 11 (PTI) Finance Minister Nirmala Sitharaman on Friday invited Canadian pension funds to invest in the National Monetization Pipeline and National Infrastructure Pipeline. The finance minister exchanged views on cooperation for promoting bilateral investment and trade during a meeting with Mary Ng, Canadian Minister of International Trade, Export, Small Business & Economic [...]
I-T dept offices to open on all Saturdays in March after FM’s rap
New Delhi, Mar 11 (PTI) Offices of the income tax department across the country will remain open on all Saturdays this month after Union Finance Minister Nirmala Sitharaman directed them to do so in order to resolve taxpayers' issues and grievances, a senior official said on Friday. Sitharaman early this week rapped the policy-making boards [...]
Indian Bank declares Topsgrup Services account as fraud for fund diversion of Rs 34 cr
New Delhi, Mar 11 (PTI) State-owned Indian Bank on Friday said it has declared NPA account Topsgrup Services as fraud for diversion of funds worth Rs 34.08 crore. The non-performing asset (NPA) Topsgrup Services and Solutions Ltd has been declared as fraud and reported to the RBI as per regulatory requirement, Indian Bank said in [...]
Govt earmarks Rs 500 cr for scheme to support pharma clusters, MSMEs
New Delhi, Mar 11 (PTI) The government has earmarked Rs 500 crore for a scheme to provide support to the existing pharma clusters and MSMEs across the country to improve their productivity and sustainability, an official release said on Friday.The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, released the guidelines for the scheme -- [...]
Patra says cutting fuel tax can cushion inflation, support growth
Mumbai, Mar 11 (PTI) Amid a massive spike in crude oil prices following Russia's invasion of Ukraine, Reserve Bank Deputy Governor Michael Patra on Friday said the government can slash duties on crude and thus prevent the pass-through effect on inflation and sustain the economic recovery as "our growth story remains as weak as it [...]
Govt eases 79 power sector related compliances under EoDB-RCB programme in 2021
New Delhi, Mar 11 (PTI) The government in 2021 eased 79 "burdensome" compliances of the power sector under the EoDB-RCB programme, which were affecting individual consumers and industry, an official statement said Friday.Ease of Doing Business-Reducing Compliance Burden (EoDB-RCB) is a programme of the government to reduce the regulatory compliance burden on citizens and businesses.It [...]
NSE co-location scam: CBI opposes bail plea by former GOO, Delhi court reserves order
New Delhi, Mar 11 (PTI) The CBI on Friday opposed before a Delhi Court the bail application by Anand Subramanian in National Stock Exchange (NSE) co-location scam case, saying that the former group operating officer (GOO) influenced the decision making of former managing director and chief executive officer Chitra Ramakrishna.CBI counsel said that Subramanian, who [...]
Consumers can get un-hallmarked jewellery tested at BIS recognised centres
New Delhi, Mar 11 (PTI) Consumers can now get the purity of their un-hallmarked gold jewellery tested at assaying facilities recognised by the Bureau of Indian Standard (BIS)."The charges for testing of gold jewellery upto 4 articles is Rs 200. For 5 or more articles, the charges are Rs 45 per article," an official statement [...]
ICICI Bank raises Rs 8,000 cr by issuing bonds
ICICI Bank on Friday said it has raised Rs 8,000 crore by issuing debt securities on a private placement basis. The board of directors of the bank on April 24, 2021, had approved fund raising through issuance of debt securities. Pursuant to this, the bank has allotted 80,000 senior unsecured redeemable long-term bonds in the [...]
Digital economy to see exponential growth to USD 800 bn by 2030: FM
New Delhi, Mar 11 (PTI) India's digital economy is expected to witness exponential growth to USD 800 billion by 2030 on the back of rising internet penetration and increasing income, Finance Minister Nirmala Sitharaman said on Friday. Addressing the IIT Bombay Alumni Association virtually, she said India has over 6,300 fintechs, of which 28 per [...]
Apple partner Unicorn plans to set up 75 stores in north, west India
New Delhi, Mar 11 (PTI) Apple premium reseller Unicorn Infosolutions is planning to set up 75 stores in the next three years, a senior company official said on Friday.Unicorn Infosolutions director Baljinder Paul Singh said the company is planning to open stores in the north and west India, and if iPhone maker Apple recommends then [...]
India, Canada to re-launch FTA negotiations to unlock full potential of bilateral trade
New Delhi, Mar 11 (PTI) India and Canada on Friday agreed to formally re-launch the negotiations for a proposed free trade agreement, which aims at boosting economic ties between the two countries.This issue was discussed during the fifth Ministerial Dialogue on Trade and Investment (MDTI). Commerce and Industry Minister Piyush Goyal and Canadian Minister of [...]
Industry welcomes Kerala budget, says focus on integrated development of state
Kochi, Mar 11 (PTI) The industry in Kerala on Friday welcomed the first complete budget of the second term of the Pinarayi Vijayan-headed government for the fiscal 2022-23 and said the financial allocation focussed on key engines of growth for an integrated development of the state. The Cochin Chamber of Commerce and Industry said it [...]
Omega Seiki Mobility partners MAW Vriddhi Commercial Vehicle to retail EVs in Nepal
Mumbai, Mar 11 ( PTI) EV maker Omega Seiki Mobility (OSM) has formed a strategic partnership with Kathmandu-based MAW Vriddhi Commercial Vehicle to retail its vehicles in Nepal, according to a release. This association will enable OSM to meet the evolving needs of a customer base, which is rapidly looking for a sustainable and zero-emission last-mile [...]
SC agrees to examine plea for code to curb unethical marketing practices of Pharma companies
New Delhi, Mar 11 (PTI) The Supreme Court on Friday agreed to examine a plea seeking a direction to Centre for formulating a Uniform Code of Pharmaceutical Marketing Practices to curb unethical practices of Pharma companies and ensure an effective monitoring mechanism, transparency, accountability as well as consequences of violations.A bench of Justices DY Chandrachud [...]
IDBI Bank to invest over Rs 272 cr in bad bank NARCL
New Delhi, Mar 11 (PTI) IDBI Bank on Friday said it has become one of the stakeholders in the government-promoted bad bank National Asset Reconstruction Company Ltd (NARCL), and will invest over Rs 272 crore to acquire equity stake and subscribe to its bonds. "IDBI Bank has become one of the stakeholders of NARCL on [...]
Data localisation not the best solution; compliance to laws top priority: Visa CEO
Mumbai, Mar 11 (PTI) The RBI mandate on data localisation is not the best solution to address concerns regarding information security, global cards major Visa said on Friday. However, the company's chief executive Alfred F Kelly Jr made it clear that it believes in compliance with the local laws. Its rivals Mastercard and American Express [...]
Ukraine war threatens another global recession, deglobalisation: Patra
Mumbai, Mar 11 (PTI) The sweeping economic sanctions on Russia - the second largest producer of crude oil - following its invasion of Ukraine late last month can cull global and domestic growth along with the added pains of higher inflation and currency depreciation, RBI Deputy Governor Michael Patra has said.And if the war lingers [...]
Realty firm Sobha’s Vice Chairman and MD J C Sharma resigns
New Delhi, Mar 11 (PTI) Realty firm Sobha Ltd on Friday said its Vice Chairman and Managing Director Jagdish Chandra Sharma has resigned with effect from April 1, citing personal reasons. In a regulatory filing, Sobha informed that Sharma, vide a letter dated March 11, "tendered his resignation for the position of Director, Vice Chairman, [...]
Rupee pares initial gains, settles almost flat at 76.44 against USD
Mumbai, Mar 11 (PTI) The rupee pared its initial gains and settled just 1 paisa lower at 76.44 against the US currency on Friday amid dollar demand from oil importers and state-run power companies. Persistent foreign fund outflows and geopolitical worries sapped risk appetite in the market, pushing investors towards safe-haven assets. At the interbank [...]
Vikas Lifecare plans Rs 120 cr capex to expand operations
New Delhi, Mar 11 (PTI) Polymer products trading firm Vikas Lifecare is planing a capital expenditure of about Rs 120 crore to expand operations, the company said on Friday.The company also plans to hire 250-300 people to support its new projects, the NSE-listed company said in a statement. Under the expansion plans, the company will set up an ethanol project [...]
D B Realty’s partnership firm gets MCGM’s nod to construct 4,000 tenements
New Delhi, Mar 11 (PTI) D B Realty on Friday said its partnership firm DBS Realty has received a letter of acceptance from Municipal Corporation of Greater Mumbai (MCGM) to construct 4,000 tenements. "DBS Realty, a partnership firm in which D B Realty Ltd is a one-third partner, has received a Letter of Acceptance (LOA) [...]
Factory output expands by 1.3% in Jan
New Delhi, Mar 11 (PTI) Factory production expanded by 1.3 per cent on an annual basis in January on account of better performance by mining and manufacturing sectors, though capital goods segment remained in contraction mode, as per government data released on Friday. The Index of Industrial Production (IIP) had contracted by 0.6 per cent [...]
₹130 to ₹13270, This multibagger stock has given 10100% returns!
The Indian stock market has been through many twists and turns in the last ten years and has witnessed huge single-day drops caused by the outbreak of Covid 19, demonetization, scams and other geopolitical conflicts. In the midst of all these situations, the share prices of Bharat Rasayan Ltd increased consistently. The shares of this [...]
Jubilant FoodWorks’ CEO resigns
Jubilant FoodWorks, a master franchise of brands such as Domino's and Dunkin' Donuts, on Friday said its CEO Pratik Rashmikant Pota has resigned. The company's board on Friday accepted the resignation of Pota as the CEO and Wholetime Director of the firm as he wishes to pursue opportunities outside Jubilant FoodWorks, the company said in [...]
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