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Stock hits 5% upper circuit after receiving orders worth ₹6.25 Cr from Nxtra Data
The shares of a small-cap company engaged in providing electro-automation solutions hit a 5% upper circuit after securing orders worth Rs. 6.25 crores from Nxtra Data Limited and Pokarna Engineered Stone Limited. Share price variations: With a market capitalization of Rs.3,112.33 crores, Marine Electricals (India) Limited opened the trading session at Rs.223.45, and surged to [...]
RK Damani stock to sell now for downside of more than 15%
Shares of this large-cap supermarket chain focused on value retailing are in the spotlight after the company released its Q2 sales updates amid increasing quick commerce competition. Price Movement In Friday’s trading session, Avenue Supermart Ltd (DMart) saw its share price hit an intra-day low of Rs.4,703.00, down from the previous close of Rs.4,942.60, representing [...]
Steel stock falls 7% after its board disapproves bonus issue
The shares of leading steel pipe manufacturers have fallen up to 7 percent after the company’s board of directors did not approve the Bonus Issue. With a market capitalization of Rs 4,150.43 crore, the shares of JTL Industries Ltd were trading at Rs 223.00 per share, decreasing around 6.48 percent as compared to the previous [...]
Stock hits upper circuit after receiving LoA worth ₹23.46 Cr from Govt of Maharashtra
The shares of this microcap company locked a 2 percent upper circuit after receiving LoA worth Rs. 23.46 crores from the Government of Maharashtra. On a YTD basis, the stock has delivered more than a 100 percent return to its shareholders. Price Movement: With a market capitalization of Rs. 197 crores, the shares of Dhruv [...]
Stock under ₹15 hits upper circuit after entering into renewable energy business
During Friday’s trading session, the shares of a company engaged in manufacturing stainless steel pipes and tubes hit a 2 percent upper circuit and hit a new 52-week high at Rs. 13.23 on BSE, after the company announced entering into the Renewable energy business. With a market capitalisation of Rs. 13.2 crores, the shares of [...]
5 Tata group stocks trading at discount of up to 30%
Founded in 1868 by Jamsetji Tata, the Tata Group is one of India's largest conglomerates, owned by Tata Sons. It is the second-largest business house in India and has the highest number of companies listed on the stock exchange. The Tata Group includes several industry-leading companies such as TCS, Tata Motors, Tata Steel, and Tata [...]
Cybersecurity stock jumps 9% after launching AI fraud prevention software
Cybersecurity stock with a portfolio of cloud-based security and advanced machine learning-enabled solutions to stop threats, attacks, malicious traffic, and many others jumped upto 9 percent in the day’s trade following the launch of India's First All-in-One Fraud Prevention Solution. Price Action With a market capitalization of Rs. 3,635 Crores, the shares of Quick Heal [...]
3 Stocks in which FIIs and DIIs increased their stake
FII and DII are two prominent terms in the investment landscape. A Foreign Institutional Investor (FII) refers to an investment fund or investor that invests in a country’s assets while being based outside that country. In contrast, Domestic Institutional Investors (DIIs) are those who invest in financial instruments and securities within India, where they reside. [...]
Stock jumps 10% after receiving an order from Steel Authority of India
During Friday’s trading session, the shares of a company engaged in manufacturing adhesive tapes surged 10.6 percent to Rs. 119 on BSE, after the company received an order worth nearly Rs. 80.7 lakhs from Steel Authority of India Limited. With a market capitalisation of Rs. 163.6 crores, at 01:19 p.m., the shares of Srivasavi Adhesive [...]
Stock under ₹30 hits 5% upper circuit after entering into agriculture business
During Friday’s trading session, the shares of a company in the business of large-scale civil constructions hit a 5 percent upper circuit at Rs. 26.3 on BSE, after the company announced venturing into the agricultural industry. With a market capitalisation of Rs. 270.8 crores, the shares of Salasar Exteriors and Contour Limited opened in the [...]
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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
Indian-America ex-Amazon employee jailed for 10 months for fraud, bribery
Washington, Feb 14 (PTI) A 28-year-old Indian-origin former employee of Amazon has been sentenced to 10 months’ imprisonment for his involvement in an international bribery scheme to steal confidential information and manipulate the Marketplace platform of the e-commerce giant. Rohit Kadimisetty of California’s Northridge, pleaded guilty to conspiracy in September 2021, the Department of Justice [...]
NEWSALERT
Sensex crashes 1,747.08 pts to close at 56,405.84; Nifty dives 531.95 pts to 16,842.80. PTI MKJ ABM ABM
MUMBAI , FEB 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 74.80 76.30 74.74 76.46 EUR/INR 84.26 87.15 84.19 87.32 GBP/INR 100.68 103.90 100.60 104.10 JPY/INR 64.32 66.50 64.27 66.63 CHF/INR 80.17 83.17 80.11 83.34 AUD/INR 54.91 52.69 55.01 [...]
MUMBAI, FEB 14 (PTI) Money Market Operations as on FEB
11, 2021 (Amount in ? crore, Rate in Per cent) VOLUME Weighted MONEY MARKET (ONE LEG) Average Rate Range A. Overnight Segment 5,41,866.18 3.30 0.01-5.40 I. Call Money 7,460.65 3.28 2.20-3.55 II. Triparty Repo 4,37,351.85 3.28 2.90-3.49 III. Market Repo 97,038.68 3.38 0.01-3.60 IV. Repo in Corporate Bond 15.00 5.40 5.40-5.40 B. Term Segment I. [...]
MaxVIL completes Rs 628-cr deal to exit speciality packaging biz; to focus on realty
New Delhi, Feb 14 (PTI) Max Ventures & Industries Ltd (MaxVIL) has completed its Rs 628-crore deal to sell the entire 51 per cent stake in the speciality packaging film business and will now focus only on real estate venture. In November, MaxVIL had announced about exiting specialty packaging film business by selling its entire [...]
Crude oil futures rise on higher demand
New Delhi, Feb 14 (PTI) Crude oil prices rose Rs 117 to Rs 7,038 per barrel on Monday, as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the February delivery traded higher by Rs 117, or 1.69 per cent, to Rs 7,038 per barrel in 10,739 [...]
Decision on issuance of green bonds next month, says RBI Governor
New Delhi, Feb 14 (PTI) Reserve Bank Governor Shaktikanta Das on Monday said the decision with respect to issuance of sovereign green bonds announced in the Budget will be taken next month. Finance Minister Nirmala Sitharaman in her Budget speech announced that the government will issue sovereign bonds to mobilise resources for green infrastructure. "The [...]
Gulf Oil, SCHWING Stetter partner to market genuine oils
Mumbai, Feb 14 (PTI) Lubricant maker Gulf Oil Lubricant on Monday said it has joined hands with construction equipment manufacturer and supplier SCHWING Stetter to launch a range of genuine oils. Gulf Oil, in a statement, said it expects the demand for synthetic industrial lubricants and oils to grow going forward and the company is [...]
Kohinoor Group buys 32 acre land in Pune; Anarock facilitates deal
New Delhi, Feb 14 (PTI) Realty firm Kohinoor group has acquired 32 acre land parcel in Pune from Goel Ganga group to develop a mixed use project.Property consultant Anarock said it facilitated the deal between the two parties. The deal for 32 acres of prime land at Wagholi has been concluded.Anarock did not disclose the [...]
Adani Wilmar Q3 Results: Consolidated net profit up 66%
Edible oil major Adani Wilmar, which on Monday reported a 66 per cent jump in consolidated net profit to Rs 211.41 crore for the December 2021 quarter, has guided towards a muted fourth quarter on price rise pressures but expects demand picking up from April on new mustard crop arrival. Total income rose to Rs [...]
Capital Foods appoints S Raghunandan as CEO
Mumbai, Feb 14 (PTI) Capital Foods on Monday announced the appointment of S Raghunandan as the chief executive officer, with effect from February 7. Prior to this, Raghunandan served as the chief executive officer and director of Jyothy Laboratories, Capital Foods said in a statement. He had also been in leadership roles with leading Indian [...]
India’s Jan palm oil imports dip over 29% to 5,53,084 tonnes: SEA
New Delhi, Feb 14 (PTI) India's palm oil imports declined by 29.15 per cent to 5,53,084 tonnes during January this year, but there was a sharp rise in shipments of RBD palmolein affecting domestic refineries, industry body Solvent Extractors Association (SEA) said on Monday. India, the world's leading vegetable oil buyer, imported 7,80,741 tonnes of [...]
BHEL bags order to supply compact heat exchanger sets for Tejas aircraft
New Delhi, Feb 14 (PTI) State-owned Bharat Heavy Electricals Ltd (BHEL) on Monday said it has bagged an order from Hindustan Aeronautics Ltd to supply compact heat exchanger sets for Tejas aircraft. "Bharat Heavy Electricals Limited has received a prestigious order for the supply of compact heat exchanger sets for 83 LCA Tejas MK1A aircrafts, [...]
Dabur becomes ‘Plastic Waste Neutral company’
New Delhi, Feb 14 (PTI) Homegrown FMCG major and Ayurveda products maker Dabur on Monday said it has become a 100 per cent 'Plastic Waste Neutral company' in India and claimed to be the first Indian consumer goods company to achieve this landmark. Dabur has collected, processed and recycled around 27,000 MT of post-consumer plastic [...]
India needs to develop a market for distressed assets: Report
New Delhi, Feb 14 (PTI) India needs to develop a market for distressed assets as market participants are strongly dependent on loans from banks and the corporate bond market is under-penetrated, says a report by Nangia Andersen LLP. Also, with strategic factors like plentiful supply of stressed assets, regulatory transparency, favourable currency rates and robustness [...]
JSW One MSME launches seller connect app for customers
New Delhi, Feb 14 (PTI) JSW One MSME, a platform offering an e-commerce marketplace for small and medium-size manufacturers and contractors, on Monday launched one-stop seller connect app that allows sellers to catalogue and sell industrial products on the platform. Sellers can create catalogues, set prices, manage orders and resolve customer queries using the seller [...]
Key Points of LIC IPO | The Biggest IPO in Indian History
LIC has filed its DHRP with SEBI for selling 5%, i.e., 31.62 Cr shares. The issue size could range from ₹ 53,500 crores to ₹ 93,625 crores, and the issue price from ₹ 1,693- ₹ 2,962 per share.This is purely an offer for sale by the promoters and LIC will not be receiving the proceeds. It [...]
Jindal School of Banking & Finance Establishes New International Partnerships with \n\n9 Universities in 5 Countries
14 February 2022, Sonipat, Haryana: The Jindal of Banking & Finance (JSBF) at O.P. Jindal Global University (JGU) has expanded its international partnership network by signing and initiating the process of signing 9 new Memorandums of Understanding (MoUs) with leading universities in 5 countries. As a part of its ambition and commitment to providing its [...]
Guar seed futures rise on fresh bets
New Delhi, Feb 14 (PTI) Guar seed prices on Monday rose by Rs 146 to Rs 6,426 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend in spot market.On the National Commodity and Derivatives Exchange, guar seed for February contracts increased by Rs 146, or 2.32 per cent, [...]
CAPITAL TRUST HAILS RETURN OF NORMAL OPERATING ENVIRONMENT DESPITE 3rd WAVE IN ITS Q3 & 9MFY22 FINANCIAL RESULTS
- Disbursements in Q3 grew 21% QoQ to INR 548.8 Million, adding 17,219 new customers for the Q3 - PAT in Q3 grew by 10% QoQ to INR 9.58 Million with collections at 104% in December 21 NEW DELHI, Feb. 14, 2022 /PRNewswire/ -- Capital Trust Limited (Capital Trust), a digitally enabled non-banking finance company [...]
Guar gum futures gain on spot demand
New Delhi, Feb 14 (PTI) Guar gum prices on Monday gained Rs 330 to Rs 12,062 per five quintal in futures trade as speculators increased their holdings on spot demand.On the National Commodity and Derivatives Exchange, guar gum contracts for February delivery traded higher by 2.81 per cent, or Rs 330, to Rs 12,062 per [...]
When Cure is Not enough- A story of Hope
New Delhi (India), February 14: It is a known fact that cancer is a deadly disease, and it takes a toll on the mental as well as physical health of a person. They are of two types of cancer, myeloid and lymphoid. Diligent research and exhaustive clinical trials have now made it one of the [...]
WAF Stars Shine and Innovations Light up the Way at the 9th WAF Awards
New Delhi, Delhi, India (NewsVoir) • WAF awards reward & recognise the Best People behind Best Cos & Products • Powered by the 7 Steps Selection Process only at WAF! • Backed by months of research by IIT Delhi World Auto Forum (WAF) Awards 2022 were held virtually recently. WAF Awards, over the years have [...]
Renault India partners CSC e-Governance Services to support PM Gramin Digital Saksharta Abhiyaan
New Delhi, Feb 14 (PTI) Automaker Renault India on Monday said it has partnered with CSC e-Governance Services (Common Service Centres) to support the Pradhan Mantri Gramin Digital Saksharta Abhiyaan (PMGDISHA), the country's flagship programme that aims to provide digital literacy to masses. The partnership is aimed at empowering the citizens in rural areas by [...]
Kriya Medical Technologies gets DCGI nod for RT-PCR kit
New Delhi, Feb 14 (PTI) Medical devices firm Kriya Medical Technologies on Monday said it has received manufacturing licence from the DCGI (Drugs Controller General of India) for its product KRIVIDA Novus, an RT-PCR kit that can detect the Omicron variant and its sub-lineages in 45 minutes. Priced at Rs 150 plus taxes, the test is [...]
Blackstone acquires majority stake in wealth management firm ASK from Advent, others
Mumbai, Feb 14 (PTI) Global private equity major Blackstone on Monday announced that it has acquired a majority stake in ASK Investment Managers, a nearly three-decade old asset and wealth management company managing over USD 10.6 billion in assets. The US-based private equity fund has acquired the majority stake from its peer Advent International and [...]
Jio forays into satellite broadband market in partnership with SES
Digital services company Jio Platforms on Monday announced a joint venture with Luxembourg-based SES to provide satellite-based broadband services in India, a joint statement said. The two companies have formed a joint venture, Jio Space Technology Limited, in which Jio Platforms (JPL) and SES will own 51 per cent and 49 per cent equity stake [...]
Kerala police inducts 49 Force Gurkha SUVs in its fleet
Mumbai, Feb 14 (PTI) Force Motors has supplied 49 Gurkha SUVs to the Kerala police for border patrolling and other related activities, the Pune-based automaker said on Monday. The vehicles were inducted in the state police department's fleet on February 11, it said. Force Motors bagged the order for the supply of the all-new Gurkha [...]
Leading with Empathy into the Hybrid Working Future
Even as every industry is in the midst of ‘transformation’ led by digitalization, a global wave of lifestyle changes is redefining the employee value proposition that companies so carefully nurtured over the years. With the recent influence of the global health crisis, increasing shifts in personal priorities are changing employees’ expectations of work culture. Tanay [...]
Asia Healthcare to raise $170 mn from Singapore sovereign wealth fund GIC
New Delhi, Feb 14 (PTI) Healthcare delivery platform Asia Healthcare Holdings (AHH) on Monday said it has inked a pact to raise USD 170 million (around Rs 1,284 crore) from Singapore's sovereign wealth fund GIC. Incubated by TPG Growth in 2016 under the leadership of Vishal Bali, AHH owns and operates South Asia's largest single specialty [...]
Jeep India to launch 7-seater SUV ‘Jeep Meridian’ in mid-2022
New Delhi, Feb 14 (PTI) Automotive firm Stellantis group company Jeep India on Monday said it will launch its 7-seater SUV 'Jeep Meridian' in the middle of this year in the country. The 'Made in India' Jeep Meridian will be the company's first 7-seater SUV offering in the country and fulfils an important commitment to [...]
Zydus Pharmaceuticals (USA) Inc gets final USFDA approval to market Roflumilast tablets
New Delhi, Feb 14 (PTI) Cadlia Healthcare Ltd on Monday said group firm Zydus Pharmaceuticals (USA) Inc has received final approval from the US health regulator to market its generic version of Roflumilast tablets in the strength of 500 mcg indicated to reduce the risk of chronic obstructive pulmonary disease (COPD) exacerbations. Zydus, being one [...]
SPORTING MADE SMARTER WITH SCORPAD
How this cutting-edge platform, developed by Collabsports, provides tools and sports analytics to help players become better at their game PUNE, India, Feb. 14, 2022 /PRNewswire/ -- With its innovative offering to record, analyze and Improve players' game and collaborate with likeminded athletes, SCORPAD is all set to take steady steps in building a performance [...]
COCA-COLA, WELLA COMPANY, FLIPKART, JOHNSON & JOHNSON AND NESTLE TO LEAD INDIA’S BEST COMPANIES AT 2022 INDIA EDITION OF BREAK THE CEILING TOUCH THE SKY(R)
Opportunity for organizations to learn from the best on leadership, diversity & inclusion success. MUMBAI, India, Feb. 14, 2022 /PRNewswire/ -- House of Rose Professional (HORP) announced today that leaders from India's best Companies would exchange best practices for leadership, Diversity, Equity & Inclusion (DEI) and success at its 2022 India Edition of Break the [...]
Redington Partners with Check Point Software Technologies to bring cybersecurity solutions to SMBs in India
~Through its 15,000-strong channel partner network, Redington will distribute Check Point Software's cybersecurity solutions to SMBs~ MUMBAI, India, Feb. 14, 2022 /PRNewswire/ -- Redington India Limited, the largest IT software and products distributor in India today announced its partnership with Check Point Software Technologies, a leading provider of cyber security solutions globally. This partnership highlights [...]
Sputnik V is Most Used Vaccine in Mexico City, Over 3 Million People Already Given the Russian Vaccine
MOSCOW, Feb. 13, 2022 /PRNewswire/ -- Sputnik V is playing the key role in the vaccination campaign in Mexico's capital with over 3 million citizens of Mexico City already administered the Russian vaccine. The first component of Sputnik V (Sputnik Light) is also increasingly used in the city's revaccination campaign as a booster. Sputnik V [...]
TOSHIBA UNVEILS PATH TO 30TB BY FY23
PROPRIETARY TECHNOLOGIES, FC-MAMR AND MAS-MAMR, WILL FUEL AREAL DENSITY GROWTH KAWASAKI, Japan, Feb. 14, 2022 /PRNewswire/ -- Toshiba Corporation held an investor relations event in Tokyo, Japan. During Toshiba Electronic Devices & Storage Corporation's presentation, Mr. Hiroyuki Sato, President & CEO of the company, unveiled a descriptive roadmap of Toshiba's next-generation Nearline HDDs. Data generation [...]
Lear Named One of FORTUNE’S 2022 Most Admired Companies
SOUTHFIELD, Mich., Feb. 14, 2022 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, has been named to FORTUNE magazine's "World's Most Admired Companies" list for the sixth consecutive year. Lear was awarded fourth place overall in the Motor Vehicle Parts category – the highest ranking for a U.S.-based [...]
Industrialist Rahul Bajaj cremated with full state honours in Pune
Pune, Feb 13 (PTI) The last rites of former Bajaj Group chairman, Rahul Bajaj, were performed in Pune on Sunday with full state honours in the presence of representatives of India Inc, politicians and workers of Bajaj group who bid a final adieu to the veteran industrialist. The last rites were performed by Rahul Bajaj's [...]
ABG Shipyard used MoUs inked with Guj govt at Vibrant summits to influence banks and secure loans: Cong
Ahmedabad, Feb 13 (PTI) The Congress on Sunday claimed that ABG Shipyard used MoUs it signed with the Gujarat government during the 'Vibrant Gujarat' investors' summits to "influence" banks and secure loans of crores of rupees from them to commit the "biggest bank fraud". The party alleged that those who managed the affairs of ICICI [...]
Stage set for historic LIC IPO: Govt files draft papers to sell 5% for around Rs 63k cr
New Delhi, Feb 13 (PTI) Setting the stage for the country's biggest ever public offering, Life Insurance Corporation on Sunday filed draft papers with capital market regulator Sebi for the sale of 5 per cent stake by the government for an estimated Rs 63,000 crore. The initial public offering of over 31.6 crore shares or [...]
Coal India’s total dividend payout this year likely to be higher than FY’21
Kolkata, Feb 13 (PTI) The total dividend payout by Coal India during the current fiscal is likely to be higher than the 2020-21 financial year as the miner is expected to post healthy revenue and growth in profit, sources said on Sunday. A "decent second interim dividend" for 2021-22 is likely to be announced on [...]
Govt files draft papers for mega LIC IPO, likely to raise up to Rs 63K cr from 5% stake sale
New Delhi, Feb 13 (PTI) The government on Sunday filed draft papers with capital market regulator Sebi for the mega initial public offering (IPO) of insurance behemoth Life Insurance Corporation, aiming to mobilise an estimated Rs 63,000 crore. The IPO, which is likely to hit the capital market in March, is entirely an Offer for [...]
Govt to sell 5% in LIC via IPO; embedded value nearly Rs 5.4 lakh cr
New Delhi, Feb 13 (PTI) The government on Sunday filed draft papers with capital market regulator Sebi for selling 5 per cent stake in insurance behemoth LIC through an initial public offering which is likely to hit D-street in March. "The DRHP of LIC IPO has been filed today with the SEBI. For filing valuation [...]
Ruchi Soya Q3 profit up 3pc at Rs 234 cr
New Delhi, Feb 13 (PTI) Edible oil major Ruchi Soya Industries Ltd on Sunday reported a 3 per cent increase in its net profit to Rs 234.07 crore for the quarter ended in December 2021. Its net profit stood at Rs 227.44 crore in the year-ago period. Total income rose by 41 per cent to [...]
LIC to file DRHP in couple of days, Gets Board Approval
With Life Insurance Corporation's board giving its nod on Sunday, the state-owned insurance behemoth is all set to file the draft red herring prospectus (DRHP) for its initial public offering (IPO) with market regulator Sebi in a couple of days. The board of LIC in its meeting has given approval regarding the IPO, sources said. [...]
Genpact, Ramky Estates & Farms partner to build 14 acre project in Hyderabad
New Delhi, Feb 13 (PTI) Realty firm Ramky Estates & Farms Ltd has tied up with Genpact to develop a 14-acre project in Hyderabad. Property consultant JLL India said in a statement that it facilitated the deal. Genpact and Ramky Estates & Farms Limited (REFL) will develop 14.37 acres of land situated at Uppal, Hyderabad. [...]
Wear minimal jewellery to avoid possible delays at security checks: AI tells cabin crew
Mumbai, Feb 13 (PTI) Air India has asked its cabin crew to wear minimal jewellery to avoid delays at security checks and not to visit duty-free shops after completing the immigration process as part of the Tatas-owned airline's efforts to improve on-time performance. Since it took over loss-making Air India on January 27, Tatas has [...]
ABG Shipyard fraud: SBI says no delay in filing of case
New Delhi, Feb 13 (PTI) Amid allegations of delay in filing of complaint against the country's biggest bank fraud totaling Rs 22,842 crore, State Bank of India (SBI) on Sunday said it has been diligently following the ABG Shipyard fraud case with the CBI following the forensic audit report. The Central Bureau of Investigation (CBI) [...]
Technology can play big role in taking prosperity to remotest corners of India: Goyal
New Delhi, Feb 13 (PTI) Technology can play a big role in taking prosperity to the remotest corners of India and it can really help democratise basic amenities, such as healthcare through telemedicine and education, Commerce and Industry Minister Piyush Goyal said on Sunday. He said that the idea of the ONDC (Open Network for [...]
TVS Supply Chain Solutions files draft papers with Sebi to mop up funds via IPO
New Delhi, Feb 13 (PTI) TVS Supply Chain Solutions, part of TVS Mobility Group, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The initial share-sale consists of fresh issue of equity shares aggregating up to Rs 2,000 crore and an Offer for Sale (OFS) of [...]
Dhampur Sugar Mills Q3 profit up 39% at Rs 76 cr
New Delhi, Feb 13 (PTI) Dhampur Sugar Mills Ltd on Sunday reported a 39 per cent increase in its consolidated net profit to Rs 76.01 crore for the quarter ended in December. Its net profit stood at Rs 54.56 crore in the year-ago period. Total income, however, fell to Rs 964.27 crore in the third [...]
Winni expects to double sales on Valentine’s Day on year-on-year basis
New Delhi, Feb 13 (PTI) Online gifting company Winni expects to more than double its sales to Rs 20 crore on a year-on-year basis on Valentine's Day, a top official of the start-up firm said Sunday. Winni co-founder and CEO Sujeet Kumar Mishra said a five-fold increase in the company's retail network and over 90 [...]
Multidimensional approach key for India to achieve USD 1 trn exports by 2030: CII
New Delhi, Feb 13 (PTI) India needs to adopt a multidimensional approach to take the country's merchandise exports to USD 1 trillion by 2030, a report by industry body CII has suggested. The report recommends finalising free trade agreements with large markets, extending RoDTEP to all exports, attracting global firms and addressing domestic manufacturing issues [...]
TVS Supply Chain Solutions files draft papers with Sebi to mop up funds via IPO
New Delhi, Feb 13 (PTI) TVS Supply Chain Solutions, part of TVS Mobility Group, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The initial share-sale consists of fresh issue of equity shares aggregating up to Rs 2,000 crore and an Offer for Sale (OFS) of [...]
Union budget aims at growth of entire nation, says Minister L Murugan
Coimbatore, Feb 13 (PTI) The Budget presented by Union Finance Minister Nirmala Sitharaman was aimed at the growth and progress of the entire nation, without targeting any specific state, Union Minister of State for Information and Broadcasting and Fisheries L Murugan said on Sunday. Highlighting various features in the budget like expansion of PM's e-Vidya [...]
NSDC, Common Service Centres inks pact for delivery of services to accelerate skill development
New Delhi, Feb 13 (PTI) The National Skill Development Corporation (NSDC) and Common Service Centres (CSC) have inked a pact for the delivery of services to accelerate India's skill development. "The NSDC has signed a memorandum of understanding (MoU) with the Common Services Centres today (Sunday) to collaborate for the delivery of services related to [...]
Central excise and service tax officers association seeks timely promotions, writes to MoS Personnel
New Delhi, Feb 13 (PTI) An association of central excise and service tax officers have written to Minister of State for Personnel Jitendra Singh seeking his intervention in ensuring timely promotions for them.It highlighted the absence of a "protection clause", which safeguards the feeder cadre employees against increased residency period for promotion, in existing service [...]
MFs garner nearly Rs 1 lakh cr via NFOs in 2021 on sharp rally in stock market
New Delhi, Feb 13 (PTI) Mutual fund houses launched 140 new fund offerings (NFOs), which collected about Rs 1 lakh crore in 2021 on a sharp rally in the markets and an exceptional increase in the retail investors' interest. However, the current volatility in the stock market might prompt asset management companies (AMCs) to limit [...]
Bank of Maharashtra emerges leader among PSBs in deposit mobilisation in Q3
New Delhi, Feb 13 (PTI) Bank of Maharashtra (BoM) has become top performer among public sector banks (PSBs) in terms of growth in deposit mobilisation in the third quarter ended in December 2021, according to an analysis. The Pune-headquartered lender recorded a 15.21 per cent increase in total deposits at Rs 1,86,614 crore in the [...]
Centre sanctions over Rs 24cr for dredging in Gomati river to boost Indo-Bangla waterway project: Official
Agartala, Feb 13 (PTI) The Centre has sanctioned over Rs 24 crore for dredging in Gomati, a transboundary river between India and Bangladesh, and setting up 10 jetties for a waterway project, an official said here on Sunday. Of the total 93-km proposed waterway from Sonamura in Tripura's Sepahijala district to Daudkandi in the neighbouring [...]
Budget provisions to boost financial inclusion goals, bring best practices: Dept of Posts secy
New Delhi, Feb 13 (PTI) The Budget provisions and allocation will strengthen the postal department's financial inclusion goals and help bring in banking industry best practices for customers, particularly those in rural areas, Department of Posts Secretary Vineet Pandey has said. According to Budget announcements, in 2022, all 1.5 lakh post offices will come on [...]
RBI’s G-Secs holding may go up by Rs 2 lakh cr next fiscal: Report
Mumbai, Feb 13 (PTI) Given the record government borrowing plan of Rs 14.3 lakh crore for FY23, the Reserve Bank of India (RBI), which already holds as much as 17 per cent of the Rs 80.8 lakh crore outstanding government bonds, will have to find buyers for at least Rs 2 lakh crore, as banks [...]
Govt to tighten MGNREGA scheme to plug ‘tremendous leakages’
New Delhi, Feb 13 (PTI) The government is working to tighten the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme as "tremendous leakages" have been noticed in the flagship rural jobs programme for the past two years, a top official said. The Centre has allocated Rs 73,000 crore for 2022-23, which is 25 per [...]
Volumes to recover after two quarters along with margins: Godrej Consumer
New Delhi, Feb 13 (PTI) FMCG major Godrej Consumer Products Ltd (GCPL) is expecting volume growth to recover gradually next fiscal along with improvement in margins, coming out from the consumption slowdown and inflationary pressures, according to company Managing Director & CEO Sudhir Sitapati. The company will continue to focus on three existing categories - [...]
Innovations to be key growth engine; Costa Coffee to have pan-India presence in 3 yrs: Coca-Cola
New Delhi, Feb 13 (PTI) Innovation is going to be the "key growth engine" in India for Coca-Cola contributing 15-20 per cent in growth and the beverage major will focus on urban areas by adding premium offerings and expanding its rural footprints with affordable options, said its President Sanket Ray. Besides, the presence of Costa [...]
Godrej Properties plans Rs 7,500 cr investment in next 12-18 mths to acquire, develop new projects
New Delhi, Feb 13 (PTI) Sitting on a huge cash pile, Godrej Properties plans to invest around Rs 7,500 crore over the next 12-18 months on acquisition and development of new real estate projects. In an interview with PTI, Godrej Executive Chairman Pirojsha Godrej sounded upbeat on the growth potential in the housing and commercial [...]
Non-financial debt jumps 11.9% to Rs 371 lakh cr in Sept quarter: Report
Mumbai, Feb 13 (PTI) Led by the general government debt, the country's non-financial sector debt grew 11.9 per cent year-on-year to Rs 371 lakh crore, or 170.2 per cent of GDP, in the September 2021 quarter, even as the indebtedness of the households declined marginally, according to a report. However, this is lower than the [...]
Govt to soon appoint 3 independent directors on NaBFID board
New Delhi, Feb 13 (PTI) The government is in the process of appointment of three independent directors on the board of newly-incorporated Rs 20,000 crore National Bank for Financing Infrastructure and Development (NaBFID), a move that will clear the decks for commencing of operation of the Development Finance Institution critical for infra financing. With the [...]
EoI for sale of ground-handling arm of erstwhile national carrier Air India next fiscal
New Delhi, Feb 13 (PTI) The government will start working on selling the ground-handling arm of erstwhile national carrier Air India and the Expression of Interest (EoI) is expected in the next fiscal, an official said. "We already have the Cabinet approval for selling the subsidiaries of Air India. So we will come out with [...]
SBI expects to recover Rs 8,000 cr from written-off accounts in FY22
New Delhi, Feb 13 (PTI) Country's largest lender State Bank of India (SBI) is expecting to recover around Rs 8,000 crore from written-off accounts, including from NCLT resolved cases, in the current fiscal year to be ending on March 31, 2022. During the third quarter ended December 2021, SBI recovered Rs 1,500 crore from written-off [...]
EoI for sale of ground-handling arm of erstwhile national carrier Air India next fiscal
New Delhi, Feb 13 (PTI) The government will start working on selling ground-handling arm Alliance Air of erstwhile national carrier Air India and the Expression of Interest (EoI) is expected in the next fiscal, an official said. "We already have the Cabinet approval for selling the subsidiaries of Air India. So we will come out [...]
Coal supply crunch has led non-power sector to ‘catastrophic conditions’: Industry associations
New Delhi, Feb 13 (PTI) Industry associations have written to Prime Minister Narendra Modi on deteriorating coal supply to the non-power sector, stating that curtailment in fuel supply by rail as well as road and road cum rail (RcR) modes over the last few weeks has pushed the sector towards a "catastrophic" situation. Moreover, fertiliser [...]
Tata Motors expects CNG, EV sales contribution to go up in next 3-5 years
New Delhi, Feb 13 (PTI) Tata Motors is expecting CNG cars contribution to grow up to 20 per cent gradually in its total sales over the next 3 to 5 years as it anticipates more entry-level petrol and diesel customers to opt for such models, a top company official has said. The Mumbai-based auto major [...]
CBI books ABG Shipyard in biggest bank fraud case of over Rs 22,842 crore
In its biggest bank fraud case, the CBI has booked ABG Shipyard Ltd and its former chairman and managing director Rishi Kamlesh Agarwal along with others for allegedly cheating a consortium of banks led by State Bank of India of over Rs 22,842 crore, officials said on Saturday. Besides Agarwal, the agency has also named [...]
Effective import duty on crude palm oil cut to 5.5% to cool edible oil prices
The government on Saturday brought down the effective duty on crude palm oil import to 5.5 per cent from 8.25 per cent earlier, a move which will help control cooking oil prices and support domestic processing companies. Basic customs duty is already nil on crude palm oil (CPO) and now the Central Board of Indirect [...]
‘Hamara Bajaj’! Rahul Bajaj a lighthouse for young entrepreneurs: Sharad Pawar
Mumbai, Feb 12 (PTI) NCP chief Sharad Pawar on Saturday remembered former chairman of the Bajaj Group, Rahul Bajaj, as a philanthropist who was like a "lighthouse" for young entrepreneurs. "I am deeply shocked to learn about the sad demise of Padma Bhushan Shri Rahul Bajaj! The grandson of eminent freedom fighter Jamnalal Bajaj brought [...]
Automobile industry showered glowing tributes to Rahul Bajaj
The automobile industry showered glowing tributes on eminent industrialist Rahul Bajaj, who passed away in Pune on Saturday. Bajaj, 83, the Chairman Emeritus of the Bajaj Group, held many positions across industry bodies in his long and illustrious career. "The entire automobile industry joins me in expressing our deep sorrow on the sad demise of [...]
Rahul Bajaj’s contribution to auto sector immense: Telangana CM
Hyderabad, Feb. 12 (PTI): Telangana Chief Minister K Chandrashekhar Rao on Saturday condoled the death of industrialist Rahul Bajaj whose contribution to the business and commercial sector through the development of the automobile sector was immense. An official press release from Rao’s office said products like Bajaj Scooter have become part of the public life. [...]
FM condoles death of veteran industrialist Rahul Bajaj
New Delhi, Feb 12 (PTI) Finance Minister Nirmala Sitharaman condoled the death of veteran industrialist Rahul Bajaj, who put Indian industry on the world map. "A stalwart of Indian industry passes away. Shri. #RahulBajaj was passionate about his work. He spoke for the entire industry and mentored many budding entrepreneurs. Condolences to his family and [...]
Siti Networks Q3 net loss at Rs 61.56 cr
New Delhi, Feb 12 (PTI) Multi-system operator Siti Networks Ltd on Saturday reported widening of its net loss to Rs 61.56 crore for the third quarter ended in December 2021. The company had posted a net loss of Rs 57.66 crore during the October-December quarter of the previous fiscal, Siti Networks Ltd, formerly known as [...]
Country has lost one of its tallest industry leaders: CII on Rahul Bajaj’s demise
New Delhi, Feb 12 (PTI) The Confederation of Indian Industry (CII) mourned the passing away of eminent industrialist Rahul Bajaj on Saturday, describing him as a "towering leader" and said the country has lost one of its tallest industry leaders. Bajaj held the position of CII President twice between 1979/80 and 1999/2000. “Rahul Bajaj was [...]
Rajasthan leads in solar power capacity
Jaipur, Feb 12 (PTI) Rajasthan stands on top in the country in developing solar power with more than 10 GW of green energy capacity, a release said on Saturday. According to the data released by the Union Ministry of Renewable Energy, Rajasthan has left behind Karnataka and Gujarat by developing more than 10 GW of [...]
Rahul Bajaj: Man who called spade a spade even it meant ruffling feathers in govt
New Delhi, Feb 12 (PTI) 'Hamara Bajaj' was the iconic jingle that resonated with aspirations of the middle class in a pre-liberalised India. And the man behind that brand was one of the biggest and brave industrialists - Rahul Bajaj. Straightforward and outspoken, Bajaj not just had the guts to create a two and three-wheeler [...]
Industry leaders pay tribute to Rahul Bajaj
New Delhi, Feb 12 (PTI) Industry leaders on Saturday paid rich tributes to noted industrialist Rahul Bajaj (83) who passed away due to illness at his home in Pune. Taking to Twitter, Mahindra Group Chairman Anand Mahindra stated: “I stand on the shoulders of giants. Thank you, Rahulbhai, for letting me clamber up onto your [...]
Rahul Bajaj: Man who called spade a spade even it meant ruffling feathers in govt
New Delhi, Feb 12 (PTI) 'Hamara Bajaj' was the iconic jingle that resonated with aspirations of the middle class in a pre-liberalised India. And the man behind that brand was one of the biggest and brave industrialists - Rahul Bajaj. Straightforward and outspoken, Bajaj not just had the guts to create a two and three-wheeler [...]
India-US goods trade up 45% to USD 113 bn in 2021
New Delhi, Feb 12 (PTI) The bilateral trade between India and the US rose by 45 per cent to USD 113 billion in 2021 compared to USD 78 billion in the previous year. Both the countries have made a commitment to facilitate actions necessary for increasing the bilateral trade to USD 500 billion. "India-US goods [...]
Outspoken ‘Hamara Bajaj’ man Rahul Bajaj dies at 83
Pune, Feb 12 (PTI) Eminent industrialist and former chairman of the Bajaj group, Rahul Bajaj, who put Indian industry on the world map and was known for his outspokenness, died on Saturday due to age-related illness, according to a group official. Bajaj (83), who stood down from his position of non-executive director and chairman of [...]
Himalayan yogi influenced former NSE MD Chitra Ramkrishna’s decisions: Sebi order
New Delhi, Feb 12 (PTI) Chitra Ramkrishna, the former MD and CEO of NSE, was steered by a yogi dwelling in the Himalayan ranges in the appointment of Anand Subramanian as the exchange's group operating officer and advisor to MD, according to a Sebi order. Further, Ramkrishna gave "frequent, arbitrary and disproportionate" increase in compensation [...]
RInfra Dec qtr loss at Rs 107 cr
New Delhi, Feb 12 (PTI) Reliance Infrastructure (RInfra) on Saturday reported a consolidated net loss of Rs 106.91 crore for the quarter ended December 31, 2021. The company had logged a net profit of Rs 80.08 crore in the year-ago period, RInfra said in a filing to BSE. Total income from operations rose to Rs [...]
LANXESS elevates India MD Neelanjan Banerjee as Global Business Unit Head
Mumbai, Feb 12 (PTI) Specialty chemicals company LANXESS on Saturday said the company's India managing director Neelanjan Banerjee has been elevated as the Global Head of Business Unit Lubricants Additives, USA, effective July 1, 2022. Banerjee has been Region Head, Vice-Chairman and Managing Director for LANXESS India since August 2018 and has also been an [...]
Andhra Pradesh Eyes Investment Opportunities from India Pavilion
State to showcase business attractiveness across key sectors at EXPO2020 Dubai Dubai, United Arab Emirates (NewsVoir) The state of Andhra Pradesh is ready to showcase its development and immense business opportunities to the global investors during its participation at India Pavilion in EXPO2020 Dubai. The state’s floor at the India pavilion was inaugurated yesterday by [...]
President Kovind, PM Modi pay tributes to Rahul Bajaj
New Delhi, Feb 12 (PTI) President Ram Nath Kovind and Prime Minister Narendra Modi on Saturday expressed grief at the demise of noted industrialist Rahul Bajaj and recalled his contributions to the world of industry. The president said Bajaj's career reflected the rise and innate strength of the nation's corporate sector and his death leaves [...]
Rahul Bajaj to be cremated with state honours; Maha Guv, CM hail his social awareness, industrial contribution
Mumbai, Feb 12 (PTI) Rahul Bajaj will be accorded a state funeral, Maharashtra Chief Minister Uddhav Thackeray said on Saturday as he and state governor B S Koshyari condoled the demise of the veteran industrialist saying his contribution in the field of industrial development in the country was unparalleled. Thackeray said he has instructed that [...]
Recruitment from several New Countries Added in 2022
Saudi Arabia Records Increase in the Recruitment Contracts of Domestic Workers in 2021 RIYADH, Saudi Arabia, Feb. 12, 2022 /PRNewswire/ -- According to "Musaned" platform of the Saudi Ministry of Human Resources and Social Development, which is specialized in the recruitment of domestic workers, the Kingdom of Saudi Arabia recorded an increase in the total [...]
RInfra Dec qtr loss at Rs 107 cr
New Delhi, Feb 12 (PTI) Reliance Infrastructure (RInfra) on Saturday reported a consolidated net loss of Rs 106.91 crore for the quarter ended December 31, 2021. The company had logged a net profit of Rs 80.08 crore in the year-ago period, RInfra said in a filing to BSE. Total income from operations rose to Rs [...]
Industry leaders pay tribute to Rahul Bajaj
New Delhi, Feb 12 (PTI) Industry leaders on Saturday paid rich tributes to noted industrialist Rahul Bajaj (83) who passed away due to illness at his home in Pune. Taking to Twitter, Mahindra Group Chairman Anand Mahindra stated: “I stand on the shoulders of giants. Thank you, Rahulbhai, for letting me clamber up onto your [...]
Eminent industrialist Rahul Bajaj passes away
Eminent industrialist and former chairman of the Bajaj group Rahul Bajaj passed away on Saturday due to illness at his home in Pune, according to a group official. Bajaj (83), who stood down from his position of non-executive director and chairman of Bajaj Auto on April 30 last year and remained as the Chairman Emeritus, [...]
Labour ministry expands ESIC health check-up pilot to 15 cities
New Delhi, Feb 12 (PTI) Union Labour Minister Bhupender Yadav on Saturday announced the expansion of the pilot scheme of annual preventive health check-up programme for ESIC members aged above 40 years to 15 cities from the existing five. In December, 2021, Yadav had launched the annual preventive health check-up programme for Employees' State Insurance [...]
‘Hamara Bajaj’! Rahul Bajaj a lighthouse for young entrepreneurs: Sharad Pawar
Mumbai, Feb 12 (PTI) NCP chief Sharad Pawar on Saturday remembered former chairman of the Bajaj Group, Rahul Bajaj, as a philanthropist who was like a "lighthouse" for young entrepreneurs. "I am deeply shocked to learn about the sad demise of Padma Bhushan Shri Rahul Bajaj! The grandson of eminent freedom fighter Jamnalal Bajaj brought [...]
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