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Gas stocks falls after LIC sells 2.09% stake in the company
The shares of the leading natural gas distributor fallen up to 1.4 percent after Life Insurance Corporation of India sold 21 lakh equity in the company. With a market capitalization of Rs 19,147.58 crore, the shares of Mahanagar Gas Ltd were trading at Rs 1,938.45 per share, increasing around 0.41 percent as compared to the [...]
Semiconductor stock in focus after acquiring 100% stake in smart meter company
Semiconductor stock which is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in focus after it acquires a 100 percent stake in a smart meters solution company. Price Action With a market capitalization of Rs. 35,026 Crores, the shares of Kaynes Technology India Limited were trading at Rs. 5,472 per equity share, down 1.5 [...]
Mukul Agrawal stock jumps 4% after receiving order worth ₹ 98 Cr from Indian Railways
The shares of this smallcap company jumped around 4 percent in Monday’s trading session after receiving an order worth Rs. 98 crores from the Indian Railways. The stock has delivered more than 150 percent return to its shareholders in one year. Price Movement: With a market capitalization of Rs. 1,561 crores, the shares of Hind [...]
Infra stock jumps 6% after it wins project worth ₹ 1,990 Cr for tunnel construction
Shares of an infrastructure development company focusing on road, water and wastewater segments surged 6 percent on BSE to Rs. 590 on Monday, after the company emerged as the Lowest Bidder (L1) by the Brihanmumbai Municipal Corporation for a project worth ~Rs. 1,989.9 crores. With a market capitalisation of Rs. 7,846.7 crores, at 11:05 a.m., [...]
Defence stock jumps 8% after receiving an order worth ₹ 44.49 Cr from Larsen & Toubro
The shares of this smallcap company surged by around 8 percent in Monday’s trading session after receiving an order worth Rs. 44.49 crores from Larsen & Toubro. Price Movement: With a market capitalization of Rs. 4,453 crores, the shares of Avantel Ltd started Monday’s trading session on a higher note at Rs. 177.23 compared to [...]
Defence stock hits 5% upper circuit after it forays into semiconductor sector
The shares of a small-cap company providing technology solutions to the defense, power distribution, and semiconductor industries reached a 5 percent upper price band. This surge in stock price follows the incorporation of its semiconductor subsidiary, aimed at targeting the expanding semiconductor market. Share price movement In Monday’s trading session, the shares of Trident Techlabs [...]
Stock hits 5% upper circuit after receiving order worth ₹ 200 Cr from European firm
The shares of the coated metal manufacturer gained up to 5 percent after the company achieved a milestone by receiving a contract worth Rs 200 crore from a European client. Manaksia Coated Metals & Industries Ltd has a market capitalization of Rs 518.77 crore, the shares were trading at Rs 69.85 per share, increasing around [...]
Steel stock in focus after it announces ₹ 1,200 Cr capex for company’s expansion and growth
This smallcap stock is a leading Indian multinational company specializing in the production of steel and wire ropes. Over the years, it has become one of the world's largest wire rope manufacturers, catering to industries such as oil and gas, mining, construction, and infrastructure. With a market capitalization of Rs.10,837 crore, the share price of [...]
Auto ancillary stock which holds 50% market share in braking system to keep a watch on
Founded in 1988, this Indian auto ancillary company has established itself as a leading manufacturer of advanced braking systems for two-wheelers. The firm commands approximately 50 pecrent of the Indian market for two-wheeler advanced braking systems, which include products such as brake shoes, disc brake pads, and brake panel assemblies. With a market capitalization of [...]
Financially strong stocks under ₹ 100 with high RoE and RoCE of more than 20%
Return on Equity (RoE) is a key financial metric that measures a company's profitability in relation to shareholders' equity, and is calculated by dividing net income by average shareholders' equity, expressed as a percentage. This ratio indicates how effectively a company is utilising the capital invested by its shareholders to generate profits. A higher ROE [...]
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Top Editor’s Pick
Why Mutual Funds Remain a Popular Choice in 2025
You’re not alone if you’ve been thinking more seriously about where your money goes. With daily expenses rising and long-term goals in sight, it’s only natural to look for ways to grow your savings without constant monitoring. That’s where mutual funds come into the picture. They’ve quietly remained a favourite for many over the years. [...]
Stocks to Buy: 6 Stocks to buy for an upside of 40%
The Indian Benchmark Indices closed in Green on Friday with the Sensex gaining around 218.14 points ending the week at 81,224.75 and the Nifty 50 index gaining around 113.55 points ending the week at 24,863.40. In the last five trading sessions, the Sensex declined by approximately 0.75 percent while the Nifty 50 index declined by [...]
₹2.23 to ₹1,829: NBFC stock turns ₹10,000 to ₹82 Lakhs in just 5 years
During the trading session of Friday, the shares of a registered NBFC with core business operations focused on investing and lending slumped nearly 5 percent to hit an intraday low at Rs. 1,758.1 on BSE. With a market capitalisation of Rs. 31,068 crores, the shares of Authum Investment & Infrastructure Limited opened at Rs. 1,849, [...]
Stocks to Buy: 6 Stocks to buy now for an upside of 50%
The Indian Benchmark Indices closed in red on Friday with the Sensex losing around 230.05 points ending the week at 81,381.36 and the Nifty 50 index losing around 34.20 points ending the week at 24,964.25. In the last five trading sessions, the Sensex declined by approximately 0.73 percent while the Nifty 50 index declined by [...]
₹430 to ₹14,136: Pharma stock turns ₹10,000 to ₹3.29 Lakhs in just 5 years
According to business standards, the Indian pharmaceutical industry is a global powerhouse, projected to reach $130 billion by 2030, growing at over 10% annually. Currently valued at $50 billion, India supplies 20% of the world's generic medicines and accounts for 60% of global vaccine production, cementing its role as the "pharmacy of the world. With [...]
Stocks that may get affected by Israel-Iran war
India is Israel’s 2nd trading partner in Asia and the 9th largest globally. The bilateral trade has been majorly dominated by diamonds and chemicals. However, recent years have seen an increase in trade in areas such as electronic machinery and high-tech products; medical equipment; communications systems, etc. The two nations celebrated 30 years of the [...]
Latest Market News
Dr Reddy’s gets DCGI nod for single-shot Sputnik Light vaccine
Hyderabad, Feb 7 (PTI) Dr. Reddy's Laboratories Ltd. on Monday announced that the Drugs Controller General of India (DCGI) has granted approval to the single-shot Sputnik Light vaccine for restricted use in emergency situation for COVID-19 in India. A press release from the drug maker said Dr. Reddy’s had submitted its application for approval to [...]
Sintex Industries insolvency in final stages, company receives revised bids
Four companies, including Reliance Industries, competing for Sintex Industries have revised their bids that will now be placed before the Committee of Creditors (CoC) of the debt-ridden textiles maker for approval. Mukesh Ambani-led Reliance Industries Ltd is jointly bidding with Assets Care & Reconstruction Enterprise for Sintex Industries and according to some media reports, the [...]
RBI postpones MPC meet to Feb 8 as Maha declares holiday on Mon
Mumbai, Feb 6 (PTI) The Reserve Bank of India (RBI) on Sunday announced rescheduling the meeting of rate-setting Monetary Policy Committee (MPC) by a day in view of Maharashtra declaring public holiday on February 7 to mourn death of Bharat Ratna legendary singer Lata Mangeshkar. The MPC meeting was scheduled for February 7-9, 2022. With [...]
RBI postpones MPC meet to Feb 8
Mumbai, Feb 6 (PTI) Reserve Bank of India (RBI) on Sunday announced rescheduling of rate-setting Monetary Policy Committee (MPC) meeting by a day in view of Maharashtra declaring public holiday on February 7 to mourn death of Bharat Ratna legendary singer Lata Mangeshkar. The meeting was scheduled for February 7-9, 2022. With the postponement, the [...]
Raj govt to sign MoUs of Rs 3.05 lakh cr for renewable energy
Jaipur, Feb 6 (PTI) The Rajasthan government will be signing MOUs with major players in the renewable energy sector, capturing investment of Rs 3.05 lakh crore under Invest Rajasthan Campaign. The companies that will be signing MOUs or letters of intent are five PSUs, including NTPC, NHPC, SJVN Limited, THDC India Ltd., SECI and private players [...]
IIFCL forays into long-term infra bond market; invests Rs 325 cr in NCD of VRET
Mumbai, Feb 6 (PTI) India Infrastructure Finance Company Ltd (IIFCL) on Sunday said it has forayed into the long-term infrastructure bond market by subscribing to a non-convertible debt issued by Virescent Renewable Energy Trust (VRET), an infrastructure investment trust (InvIT). The total size of the issue was Rs 650 crore and IIFCL has invested Rs [...]
Cogent E-Services files draft papers with Sebi to mop-up funds via IPO
New Delhi, Feb 6 (PTI) Cogent E-Services Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The initial share-sale comprises fresh issue of equity shares aggregating up to Rs 150 crore and an offer for sale of up to 94.68 lakh equity shares by promoters, [...]
Govt prepared to deal with any global development: FM
New Delhi, Feb 6 (PTI) India is prepared to deal with any situation arising out of global developments, including the US Federal Reserve's decision to roll back monetary easing, and will not allow the economy to suffer, Finance Minister Nirmala Sitharaman asserted on Sunday. In a post-Budget interaction with industry body Ficci, she urged corporates [...]
Centre to bring ATF inclusion in GST for discussion in next Council meet: FM
New Delhi, Feb 6 (PTI) The Centre will move the issue of bringing aviation turbine fuel (ATF) under the GST net for discussion in the next meeting of the GST Council, Finance Minister Nirmala Sitharaman said on Sunday, while noting that rising global fuel prices are a "concern". When the GST was introduced on July [...]
Music will not sound the same again: India Inc pays tributes to Lata
Mumbai, Feb 6 (PTI) India Inc paid rich tributes to singer Lata Mangeshkar following the Bharat Ratna awardee's death on Sunday, saying music will not sound the same again. Harsh Goenka of RPG Enterprises said it feels like a voice of the country has been silenced, after the death of Mangeshkar at 92 in a [...]
IIFCL invests in infra project bonds
New Delhi, Feb 6 (PTI) To promote long-term infrastructure debt market, India Infrastructure Finance Company (IIFCL) has participated in the issue of non-convertible debt securities amounting to Rs 325 crore by placing its first e-bid in the issue of an InvIT earlier this week, the company said on Sunday. The NCDs issued by Infrastructure Investment [...]
Bank of Baroda sees loan growth of 7-10 pc in FY22
Mumbai, Feb 6 (PTI) State-owned Bank of Baroda (BoB) said it is on track to achieve a loan growth of 7-10 per cent in the current financial year and expects advances to grow 10-12 per cent in the financial year 2022-23, its Managing Director and CEO Sanjiv Chadha said. In the quarter ended December 2021, [...]
Green bonds to be rupee-denominated with long tenure: DEA secy
New Delhi, Feb 6 (PTI) Asserting that the issuance of sovereign green bonds is part of the government's overall borrowing programme, Economic Affairs Secretary Ajay Seth has said these rupee-denominated papers will have long tenure to suit the requirement of green infrastructure projects. Finance Minister Nirmala Sitharaman in her Budget Speech announced that the government [...]
LIC 3rd largest globally, but offers highest RoE of 82%, says Crisil report
Mumbai, Feb 6 (PTI) The IPO-bound national insurer Life Insurance Corporation (LIC) is not only the world's largest when it comes to home-market share with over 64.1 per cent of the total gross written premium as of 2020 but also the one that offers the highest return on equity at 82 per cent, apart from [...]
Centre will bring ATF inclusion in GST for discussion in next Council meet: FM
New Delhi, Feb 6 (PTI) The Centre will bring for discussion in the next meeting of the GST Council the issue of bringing aviation turbine fuel (ATF) into the goods and services tax regime, Finance Minister Nirmala Sitharaman said on Sunday, as she noted that rising global fuel prices is a "concern". When the GST [...]
Battrixx aims to have strong presence in electric 2-, 3-wheeler segments
Mumbai, Feb 6 (PTI) Battrixx, an advanced lithium-ion battery packs manufacturer, is aiming to have a strong presence in the electric two- and three-wheeler segments, which are majorly propelling the growth in the domestic electric vehicle space, according to a top executive. Battrixx, which is the battery division of Kabra ExtrusionTechnik, late last year had [...]
End of an era but her music is immortal: Music industry mourns Lata Mangeshkar’s demise
New Delhi, Feb 6 (PTI) Terming the passing away of singing legend Lata Mangeshkar as the end of an era, Indian music industry players on Sunday said her memories and songs will remain immortal. Expressing grief at her death, Tips Films & Music Chairman and Managing Director Kumar S Taurani in an audio message said, [...]
MeitY to hire CEO, CTO, CFO for India Semiconductor Mission: Official
New Delhi, Feb 6 (PTI) The Ministry of Electronics and IT (MeitY) will hire top officials to fill various positions like CEO, CTO and CFO among others for 'India Semiconductor Mission' as it looks to build electronic chip and display ecosystem in the country, according to a MeitY official. The Union Cabinet in December approved [...]
MCA21 portal’s third version to be rolled out in March
New Delhi, Feb 6 (PTI) The corporate affairs ministry is preparing to launch the third version of the MCA21 portal in March, starting with the LLP module. The third version of the portal, a key platform to submit the required documents and filings under the companies law and the Limited Liability Partnership Act, will leverage [...]
Green bonds to be rupee-denominated with long tenure: DEA secy
New Delhi, Feb 6 (PTI) Asserting that the issuance of sovereign green bonds is part of the government's overall borrowing programme, Economic Affairs Secretary Ajay Seth has said these rupee-denominated papers will have long tenure to suit the requirement of green infrastructure projects. Finance Minister Nirmala Sitharaman in her Budget Speech announced that the government [...]
RBI likely to maintain status quo in policy rate next week, say experts
Mumbai, Jan 6 (PTI) In view of inflationary concerns, the Reserve Bank is likely to maintain the status quo on key policy rates in its next bi-monthly economic policy, which will be the first after the presentation of the Union Budget for 2022-23. Experts, however, are of the opinion that RBI's monetary policy committee (MPC) [...]
ADB lends record USD 4.6 bn loans to India in 2021
New Delhi, Feb 6 (PTI) The Asian Development Bank (ADB) on Sunday said it provided a record USD 4.6 billion loans to India in 2021, including USD 1.8 billion towards coronavirus response. "The Asian Development Bank committed a record USD 4.6 billion in sovereign lending to India in 2021 for 17 loans, including USD 1.8 [...]
Technical panel to suggest modalities for R&D support channelised from USO funds: Telecom secy
New Delhi, Feb 6 (PTI) A committee is being set up to suggest guidelines for sanction of R&D funds, to the tune of Rs 450-500 crore, which will be allocated from the portion of USOF annual collections following the recent Budget announcement, according to DoT Secretary K Rajaraman. The committee, which is being constituted, is expected [...]
Adani forms unit to set up data centre in Mumbai
New Delhi, Feb 6 (PTI) Ports-to-energy conglomerate Adani Group has incorporated a new subsidiary to set up a data centre in Mumbai, one of the half a dozen cities that the billionaire Gautam Adani's group has identified to set up data centres initially. AdaniConnex Pvt Ltd, a 50:50 joint venture of Adani Enterprises and EdgeConnex [...]
Highway construction speed to be enhanced to meet next fiscal target: Road Transport Secy
New Delhi, Feb 6 (PTI) Terming the recent budget a "development oriented" exercise, Union Road Transport and Highways Secretary Giridhar Aramane on Sunday said the pace of road construction will be further increased to achieve the target of expansion of national highways in the next fiscal. In the ongoing fiscal so far, he said, the [...]
Godrej Properties expects Jan-Mar to be best-ever quarter for sales bookings
New Delhi, Feb 6 (PTI) Godrej Properties expects record sales bookings during this quarter, beating the previous high of Rs 2,632 crore, driven by new launches of around 10 housing projects amid the strong revival of demand. In an interview with PTI, Godrej Properties Ltd (GPL) Executive Chairman Pirojsha Godrej said the residential market has [...]
Bayer Cropscience posts Rs 84.8-cr net profit for Dec quarter
New Delhi, Feb 6 (PTI) Bayer Cropscience Ltd has reported a net profit of Rs 84.8 crore in the third quarter ended December 2021, despite unseasonal rains, crop infestations and a challenging corn season. The company had posted a net loss of Rs 45.1 crore in the corresponding quarter last fiscal. Net revenues rose to [...]
NHPC’s 2,880 Dibang hydropower project expected to begin during Apr-Jun: CMD
New Delhi, Feb 6 (PTI) NHPC's 2,880-megawatt (MW) Dibang hydropower project in Arunachal Pradesh is expected to kick-off in the first quarter of 2022-23 "with in-hand forest and environment clearances", its Chairman and Managing Director Abhay Kumar Singh said. The company is waiting for the financial approval of the government which is expected soon, Singh [...]
Massive capex outlay to crowd in pvt investment by creating demand, boosting eco activity: Fin Secy
New Delhi, Feb 6 (PTI) The government's massive capital spending programme outlined in the Budget 2022 will help crowd-in private investment by reinvigorating economic activities and creating demand, Finance Secretary T V Somanathan said. Finance Minister Nirmala Sitharaman raised capital expenditure (capex) by 35.4 per cent for the financial year 2022-23 to Rs 7.5 lakh [...]
IPO-bound LIC ropes in 6 independent directors on its board
New Delhi, Feb 6 (PTI) Ahead of initial public offering (IPO), Life Insurance Corporation (LIC) has last month appointed six independent directors on its board to meet regulatory norms of corporate governance. LIC appointed former financial services secretary Anjuly Chib Duggal, ex-Sebi member G Mahalingam, former SBI Life managing director Sanjeev Nautiyal, sources said. Besides, [...]
Air India: A name chosen through opinion poll more than 75 years ago
New Delhi, Feb 6 (PTI) More than 75 years ago, an opinion poll among Tata employees to choose from four names resulted in the country's first airline company being named as 'Air India'. Little over 10 days after formally taking control of Air India, Tata Group on Sunday shared nuggets of information about the history [...]
‘Her soulful voice will live forever in our hearts’: Biz leaders pay tribute to Lata Mangeshkar
Industry leaders on Sunday mourned the death of singing legend Lata Mangeshkar, saying her demise is the loss of one of the greatest Indians. Sanjiv Goenka, Chairman RP Sanjiv Goenka Group that owns the country's oldest music label Saregama, said her music will continue to enthral for years to come. "Lata Ji and my mother [...]
Submitted proposal to DCGI to test Sputnik Light as Covid booster dose: Dr Reddy’s
New Delhi, Feb 6 (PTI) Drug major Dr Reddy's Laboratories has submitted a proposal to the Drugs Controller General of India (DCGI) to register Sputnik Light vaccine as a booster dose against COVID-19, a top company official has said. The Hyderabad-based drug major had partnered with the Russian Direct Investment Fund (RDIF) to conduct the [...]
Infra projects expected to route through PM GatiShakti’s NPG after Apr 1: DPIIT Secy
New Delhi, Feb 6 (PTI) The implementation framework for PM GatiShakti national master plan is taking its final shape at a faster pace and after April 1 this year, every infrastructure project is expected to route through the network planning group (NPG) constituted under this initiative, a top government official said. The PM GatiShakti plan [...]
Airtel to spend Rs 1.17 lakh cr on various businesses with subsidiaries over a period of 5 years
New Delhi, Feb 6 (PTI) Telecom operator Bharti Airtel has plans to spend about Rs 1.17 lakh crore through business transactions with its subsidiaries like Indus Towers, Nxtra and Bharti Hexacom, according to a regulatory filing. The company will hold an extraordinary general meeting of the members of the company on February 26 to also [...]
Maruti expects production activity to pick up in Q4 as chip supply improves
New Delhi, Feb 6 (PTI) The country's largest carmaker Maruti Suzuki India is expecting production activity to improve in the current quarter with gradual improvement in the supply of critical electronic components, a senior company official has said. The auto major is also looking at ways, including bolstering its SUV portfolio, in order to get [...]
SBI lines up 6 NPA accounts for sale to ARCs to recover dues of Rs 406 cr
New Delhi, Feb 6 (PTI) Country's largest lender SBI has lined up six non-performing assets (NPAs) for sale to asset reconstruction companies (ARCs) to recover dues of nearly Rs 406 crore. The six NPA accounts put up for sale to the ARCs are -- Patna Bakthiyarpur Tollway with outstanding of Rs 230.66 crore; Steelco Gujarat [...]
India’s very own official digital currency is likely to debut by early 2023
India's very own official digital currency is likely to debut by early 2023, which will mirror any of the currently available private company-operated electronic wallets, but with a change that it will be a sovereign-backed facility, a top government source said. Finance Minister Nirmala Sitharaman in her budget speech last week talked about launching a [...]
Volatility to rule stock markets, domestic factors to drive sentiment this week: Analysts
Stock markets are expected to witness volatility this week with domestic factors such as RBI policy decisions and quarterly earnings by big players driving the investor sentiment, analysts said. Also, movement of the rupee, Brent crude and foreign institutional investors (FIIs) would be keenly watched by investors, they added. "Among important events, participants will be [...]
Pakistan a ‘priority’ in China’s neighbourhood diplomacy: Chinese Premier Li tells Imran
Beijing, Feb 5 (PTI) Chinese Premier Li Keqiang on Saturday said that Pakistan is a “priority” in China’s neighbourhood diplomacy as he met his Pakistani counterpart Imran Khan who assured him that his government will do its utmost to ensure the safety of Chinese nationals and projects in his country. Li, the second-ranking leader of [...]
AIBEA exppresses disagreement wih DIPAM sec
Jamshedpur, Feb 5 (PTI) All India Bank Employees Association (AIBEA) general council member Hira Arkane on Saturday expressed disagreement with the comment by the secretary to the Department of Investment and Public Asset Management (DIPAM) Tuhin Kanta Pandey, who advocated privatisation of public sector banks. Describing Pandey's comments as "unfortunate", Arkane said in a statement [...]
Reliance Jio faces over 8-hr outage in Mumbai
Mumbai, Feb 5 (PTI) The country’s largest telco Reliance Jio faced an over eight-hour long outage in the financial capital on Saturday, wherein its subscribers were unable to make or receive calls. Users of the Mukesh Ambani-led telco started facing issues at around noon and the company ended a phased restoration of connections only late [...]
Hurdle cleared for acquisition of tea garden land for Numaligarh Refinery
Guwahati, Feb 5 (PTI) The hurdle in the acquisition of over 198 acres of tea garden land for expanding the capacity of Numaligarh Refinery Ltd, Northeast's largest PSU refiner, was cleared on Saturday in a meeting of all stakeholders with Assam Chief Minister Himanta Biswa Sarma, officials said. Sarma held a meeting with the representatives [...]
Bank of Baroda Q3 Results: PAT doubles to Rs 2,197 cr; NII surges 14%
State-run Bank of Baroda's (BoB) standalone profit after tax (PAT) doubled to Rs 2,197 crore in the quarter ended in December aided by healthy growth in net interest income (NII) and on lower provisions. This compares with a standalone PAT of Rs 1,061 crore in the same quarter of the previous fiscal. “Profit has been [...]
Mumbai’s landmark Khadi Emporium, oldest such shop in country, banned from selling Khadi products
Mumbai, Feb 5 (PTI) The nearly seven-decades-old 'Khadi Emporium' has been banned for selling fake Khadi products by the Khadi and Village Industries Commission (KVIC), a statement said on Saturday. The commission, which is under the Union Ministry of Micro, Small and Medium Enterprises, has adopted a “zero tolerance” policy against sale of spurious or [...]
KVIC cancels certification of its oldest Khadi institution for selling fake products
New Delhi, Feb 5 (PTI) Khadi and Village Industries Commission on Saturday said it has cancelled the Khadi Certification issued to its oldest Khadi institution, the Mumbai Khadi & Village Industries Association, for alleged sale of non-Khadi products. The institution was running the Khadi Emporium at Metropolitan Insurance House, a heritage building, located in Mumbai [...]
FM exhorts India Inc to open up their purse for sustained growth
New Delhi, Feb 5 (PTI) Finance Minister Nirmala Sitharaman on Saturday exhorted India Inc to take advantage of announcements made in Budget and "quickly" step up capex so that the virtuous cycle of investment gathers momentum. Addressing members of CII, she said increase in capex in the Budget was done with twin objectives of supporting [...]
Indian footwear, leather development programme approved for continuation: DPIIT
New Delhi, Feb 5 (PTI) The commerce and industry ministry on Saturday said Indian Footwear and Leather Development Programme (IFLDP) has been approved for continuation with a financial outlay of Rs 1,700 crore. IFLDP has been approved by the cabinet on January 19 for continuation till March 31, 2026, or till further review, whichever is [...]
Reliance Jio faces service outage in Mumbai, phased restoration on
Mumbai, Feb 5 (PTI) Reliance Jio's telecom services have been affected since Saturday morning in the financial capital, with many users complaining of inability to connect calls. The problem was first reported at about noon across the city with users complaining of getting a message saying a subscriber is not registered on the network. A [...]
Ujjivan SFB trims losses to Rs 34cr in Oct-Dec on lower provisions
New Delhi, Feb 5 (PTI) Ujjivan Small Finance Bank (SFB) trimmed its net losses significantly to Rs 34 crore in the quarter ended in December 2021 on the back of lower provisioning, increasing collection efficiency and highest-ever loan disbursals. The bank had posted a net loss of Rs 279 crore in the corresponding quarter a [...]
Budget 2023 more directional with long-term growth, says Goyal
Mumbai, Feb 5 (PTI) Stating that the budget 2023 is more directional with a quarter of a century of sustained growth in mind, Commerce and Industry minister Piyush Goyal on Saturday sought to deflect criticism in certain quarters that the government focused more on the supply-side than on growth-boosting demand side of the economy. On [...]
FM exhorts India Inc to open up their purse for sustained growth
New Delhi, Feb 5 (PTI) Finance Minister Nirmala Sitharaman on Saturday exhorted India Inc to take advantage of announcements made in Budget and "quickly" step up capex so that the virtuous cycle of investment gathers momentum. Addressing members of CII, she said increase in capex in the Budget was done with twin objectives of supporting [...]
Amazon India to support women turn into entrepreneurs via K’taka Livelihood Society
Bengaluru, Feb 5 (PTI) Amazon India on Saturday said the company has signed a memorandum of understanding (MoU) with Karnataka State Rural Livelihood Promotion Society (KSRLPS) to support the growth of women entrepreneurs. The MoU was signed and exchanged in the presence of Karnataka Chief Minister Basavaraj Bommai and Minister of Skill Development, Entrepreneurship and [...]
Kerala CM Invites Global Investors to Capitalise on State’s Business-friendly Environment
Urges UAE businesses to take advantage of Kerala’s investor-friendly policies as he inaugurates State Floor at India Pavilion Dubai, United Arab Emirates (NewsVoir) Shri PinarayiVijayan, Chief Minister of Kerala along with H.E. Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance and Coexistence, and Commissioner General of EXPO2020 Dubai yesterday inaugurated the Kerala state [...]
After Grover’s demand for CEO ouster, BharatPe’s other founder throws weight behind chief executive
A day after Ashneer Grover, the embattled co-founder of BharatPe sought removal of CEO Suhail Sameer from the Board, the fintech startup's other founder Shashvat Nakrani has thrown his weight behind the chief executive, saying the official continues to enjoy his confidence. In a move that is expected to complicate Grover's pursuit to oust Sameer [...]
Affle Q3 Results: Consolidated Net profit doubles to Rs 62 cr
Mobile advertising firm Affle (India) Ltd on Saturday reported doubling of consolidated net profit to Rs 62.1 crore for the third quarter ended December 31, 2021. The company had logged a profit after tax (PAT) of Rs 30.6 crore in the same quarter a year ago. "This growth was broad-based coming from both CPCU (cost [...]
Meet the Change-makers who are Bridging the Education Inequality Gap through Teach For India Fellowship
In its commitment to impart quality education for all students, Teach For India extends the deadline of its 2022 Fellowship New Delhi, Delhi, India (NewsVoir) The Teach For India Fellowship is a 2-year, full-time, paid opportunity for India’s most promising individuals, both recent graduates, and working professionals, to serve as teaching Fellows to children in [...]
Reliance Jio faces service outage in Mumbai
Reliance Jio's telecom services have been affected since Saturday morning in the financial capital, with many users complaining of inability to connect calls. The problem was first reported at 12 noon across the city with users complaining of getting a message saying a subscriber is not registered on the network. A company official admitted to [...]
Industry dept using drones to lift Lakadong turmeric in Meghalaya
New Delhi, Feb 5 (PTI) The commerce and industry ministry on Saturday said it is promoting use of drones for transportation of famous Lakadong turmeric from Meghalaya to other parts of the country with an aim to resolve first mile connectivity issues of farmers from the hinterland. Lakadong turmeric has been identified under the One [...]
LIC offers opportunity for policyholders to revive lapsed policies
Mumbai, Feb 5 (PTI) IPO-bound Life Insurance Corporation of India (LIC) has launched a campaign for revival of individual lapsed policies. Policies, which are in a lapsed condition during the premium paying term and not completed policy term, are eligible to be revived in this campaign, which will begin from February 7 and on March [...]
CMS Info Systems logs 48% growth in Dec qtr net at Rs 60 cr
Cash management firm CMS Info Systems, which closed the last IPO of 2021 with a Rs 1,100-crore share sale in the third week of December, has reported a net income of Rs 60.2 crore for the quarter ending December 2021, which was higher by 48 per cent year-on-year, when the company was privately held. The [...]
Paytm Q3 Results: Net loss widens to Rs 778.4 crore
Digital payments and financial services firm One97 Communications, which operates under Paytm brand, on Friday reported widening of consolidated loss to Rs 778.5 crore in the December 2021 quarter. Paytm had registered a loss of Rs 535.5 crore in the same period a year ago, according to late night BSE filing by the company. Its [...]
The COVIDSafe app was designed to help contact tracers. We crunched the numbers to see what really happened
Sydney, Feb 5 (The Conversation) Early in the pandemic, the COVIDSafe app was designed as a tool to improve contact tracing. And a multimedia campaign promoted it as helping to find more COVID contacts faster.Now, almost two years after its launch in April 2020, we publish in The Lancet Public Health our evaluation of the [...]
Get the Best Touchscreen Watches from Samsung on the Bajaj Finserv EMI Store and Avail of a Cashback Voucher worth Rs. 3,000
Purchase the best Samsung touchscreen smartwatches from the Bajaj Finserv EMI Store and avail of benefits like No Cost EMI plans, hefty discounts, and free home delivery Pune, Maharashtra, India (NewsVoir) The Bajaj Finserv EMI Store has announced attractive cashback offers on the purchase of Samsung smartwatches. The platform is offering customers a voucher of [...]
As China welcomes the world to Winter Olympics, its economy is ever more isolated from the west
London, Feb 5 (The Conversation) As the Beijing Winter Olympics get underway, all eyes are on China. There has been lots of coverage about China’s chilly relationship in the west and its persecution of the Uighur and other minorities, but there is also much to be said about the Chinese economy. China’s great rise over [...]
Sputnik V vaccine granted full permanent approval in Russia
Highest safety and efficacy of Sputnik V confirmed during clinical trials and in real-world use in more than 60 countries around the world Sputnik V has been authorized in 71 countries with total population of over 4 billion people. MOSCOW, Feb. 4, 2022 /PRNewswire/ -- The Russian Direct Investment Fund (RDIF, Russia's sovereign wealth fund) [...]
Kerala CM inaugurates Kerala pavilion at Dubai Expo 2020
Thiruvananthapuram, Feb 4 (PTI) Kerala Chief Minister Pinarayi Vijayan on Friday inaugurated the Kerala pavilion at Dubai Expo 2020 and welcomed the companies and businesses in the UAE to take advantage of the present business friendly environment in the southern state. Vijayan, while addressing a gathering at the Expo, said over the years, Kerala has [...]
‘GAY’ code for Gaya airport inappropriate; make all efforts to change it: Par panel tells govt
New Delhi, Feb 4 (PTI) A Parliamentary panel on Friday said the use of 'GAY' code for Gaya airport is inappropriate for the holy city and asked the government to make all efforts to change the code. The Committee on Public Undertakings, in its first report tabled in Parliament in January 2021, had recommended changing [...]
AirAsia passengers can now pre-book lounge facilities through its website, mobile app
Mumbai, Feb 4 (PTI) Budget carrier AirAsia India on Friday announced that its passengers can now pre-book lounge facilities on its website and mobile app. The airline offers these services across 13 airports including at its all four hubs, AirAsia India said in a statement. The services are available at Bengaluru, Bhubaneswar, Chennai, Kochi, Delhi, [...]
Demand for corporate travel returning gradually, says IndiGo
Mumbai, Feb 4 (PTI) Budget carrier IndiGo, which turned profitable in the December quarter on the back of higher passenger volumes, on Friday said the demand for corporate travel is returning gradually. "We are saw a recovery of almost 70 per cent of the recovery in corporate travel in December. But due to the third [...]
Budget aimed at providing stability: MoS Finance Karad
New Delhi, Feb 4 (PTI) The Union Budget for 2022-23 is aimed at providing stability to the country and supports different sections through various schemes, Minister of State for Finance Bhagwat Kishanrao Karad said on Friday. "If we want to develop our country's economy, then we have to penetrate up to the common man and [...]
DoT visits Pusa institute to explore 5G use for agriculture
New Delhi, Feb 4 (PTI) The telecom department will engage telecom operators for developing 5G use cases in the field of precision agriculture and smart farming in collaboration with the agriculture ministry, an official statement said on Friday. A team from the Department of Telecommunications (DoT) visited Indian Agriculture Research Institute (ICAR), Pusa Institute, as [...]
CreditAccess Grameen reports Rs 117 cr net profit in Dec-qtr
Mumbai, Feb 4 (PTI) Leading microlender CreditAccess Grameen on Friday reported a net income of Rs 117 crore for the three months to December, as against a net loss of Rs 79.1 crore a year ago. This was despite its disbursements growing only 2.8 per cent to Rs 4,720 crore. The Bengaluru-based micorlender's gross loan [...]
Govt expects Rs 34,090-cr investment under PLI scheme for electronics mfng
New Delhi, Feb 4 (PTI) The government is expecting an investment of Rs 34,090 crore under the PLI scheme for large-scale electronics manufacturing, mainly mobile phones and electronic components, by 2025, Parliament was informed on Friday. The government has approved proposals of 20 companies under the Scheme for Promotion of Manufacturing of Electronic Components and [...]
Tata Steel Q3 Results: Consolidated net profit more than doubles to Rs 9,598 cr
Steel major Tata Steel on Friday said its consolidated net profit more than doubled to Rs 9,598.16 crore for the quarter ended December 2021, mainly on account of higher income. In a regulatory filing, the company said it had clocked a net profit of Rs 4,010.94 crore in the year-ago period. Total income during the [...]
Pegasus: SC-appointed panel extends timeline till Feb 8 for people to come forward
New Delhi, Feb 4 (PTI) Just two persons seemingly affected by the Pegasus spyware have so far pledged to give their phones to the SC-appointed technical committee looking into the Pegasus issue, forcing the panel to extend the timeline for affected persons to turn up before it. The technical committee appointed by the Supreme Court [...]
Omicron spread likely to be less disruptive for hotel sector in Q1 FY23: Ind-Ra
Mumbai, Feb 4 (PTI) India Ratings and Research (Ind-Ra) on Friday said the third wave of Covid-19 is likely to impact the operating metrics of the hotel industry in the last quarter of this financial year, but the effect will be less in the April-June period of FY23 due to easing of restrictions. The overall [...]
Dalmia Bharat Sugar Q3 profit at Rs 57 cr
New Delhi, Feb 4 (PTI) Dalmia Bharat Sugar and Industries Ltd on Friday posted 52.5 per cent jump in consolidated net profit at Rs 56.58 crore during the third quarter of 2021-22. The company's net profit in the year-ago period stood at Rs 37.10 crore, according to a regulatory filing. Total revenue increased to Rs [...]
Need to expand tax base in proprietorships, LLPs, partnership firms: Revenue Secy
New Delhi, Feb 4 (PTI) An unbelievingly low Rs 31,500 per return is all the tax that non-salaried and non-corporate tax filers such as proprietorships, limited liability partnerships and partnership firms pay, a top government official said on Friday, emphasising the need to expand the tax base in this segment. Speaking at a post-Budget event, [...]
Eveready Industries Q3 Results: Consolidated net profit down 51%
Battery and flashlights maker Eveready Industries India Ltd on Friday reported 51.41 per cent decline in consolidated net profit at Rs 23.71 crore for the third quarter ended December 31, 2021. The company had clocked a net profit of Rs 48.80 crore in the year-ago period, Eveready Industries said in a regulatory filing. Revenue from [...]
Govt extends stock limits on edible oils, oilseeds till June
New Delhi, Feb 4 (PTI) In a bid to further cool down edible oil prices and curb hoarding, the Centre on Friday extended stock limits on edible oils and oilseeds till June 30. Besides, the government has specified the stock limits that have to be imposed by states that have not implemented the earlier order [...]
Suzuki to set up Innovation Centre at IIT Hyderabad
Hyderabad, Feb 4 (PTI): Indian Institute of Technology Hyderabad (IITH) and Suzuki Motor Corporation signed a three-year contract to start Suzuki Innovation Centre (SIC) with the vision of "creating innovations for India and Japan" by way of providing a platform for exchange of knowledge between the two organizations. A press release from IIT Hyderabad said [...]
Godrej Agrovet Q3 consolidated net down 8.37 pc at Rs 62.39 cr
Mumbai, Feb 4 (PTI) Agri-business company Godrej Agrovet on Friday reported an 8.37 per cent decline in consolidated net profit at Rs 62.39 crore for the quarter ended December 2021. Godrej Agrovet's net profit stood at Rs 68.09 crore during the corresponding quarter of the previous fiscal, the company said in an exchange filing. Total [...]
Ministry tried to locate ‘Tek Fog’ on prominent app stores, couldn’t find it: MoS IT
New Delhi, Feb 4 (PTI) The government has taken note of news reports about alleged app 'Tek Fog' purportedly used to manipulate social media platforms, and the IT ministry has tried to locate it on prominent app stores but could not find it, Parliament was informed on Friday. The ministry is not aware of any [...]
Godrej Properties shares tank nearly 10%; DB Realty jumps 5%
New Delhi, Feb 4 (PTI) Shares of Godrej Properties on Friday tumbled nearly 10 per cent, a day after announcing plans to invest Rs 700 crore in D B Realty amid apprehensions over the proposed transaction. After market hours on Friday, Godrej Properties said it has decided to cancel the plan. "We've decided against going [...]
Airtel Africa Q3 Results: Profit after tax up 54% to USD 180 mn
Telecom operator Airtel Africa on Friday reported a 54.4 per cent increase in profit after tax (PAT) to USD 180 million for the December 2021 quarter. The company had posted a PAT of USD 116 million in the same period a year ago. The underlying revenue of Bharti Airtel's African telecom arm increased by 17.9 [...]
Govt examining proposals from 3 telcos keen to convert pending dues into equity:Telecom Min tells RS
New Delhi, Feb 4 (PTI) The government is examining proposals from three telecom companies keen to opt for converting interest on deferred spectrum and adjusted gross revenue (AGR) dues into equity, Telecom Minister Ashwini Vaishnaw said in the Rajya Sabha on Friday. The minister -- responding during Question Hour to a query [...]
Govt to settle almost all retro-tax cases this month: Revenue Secy
New Delhi, Feb 4 (PTI) The government will settle almost all the retrospective tax cases this month, closing a chapter that plagued India's reputation as an investment-friendly destination, a top official said on Friday. A 2012 amendment that gave taxmen powers to go back 50 years and slap capital gains levies wherever ownership had changed hands [...]
Godrej Properties calls off DB Realty deal after concerns raised by stakeholders
Real estate firm Godrej Properties has decided to cancel its plans to invest Rs 700 crore in DB Realty to acquire 10 per cent stake and set up a joint platform amid concerns raised by minority shareholders and other stakeholders. On Thursday, Godrej Properties had announced that it would invest Rs 400 crore to acquire [...]
Budget to give stability to the country : Karad
Kolkata, Feb 4 (PTI) Union Minister of State for Finance Bhagwat Kishanrao Karad on Friday said that the union budget presented by Finance Minister Nirmala Sitharaman will give stability to the country. The budget had proposed different schemes to support various sectors of the economy in the pandemic situation, he said at an event organised [...]
NEWSALERT
Tata Steel Q3 net profit more than doubles to Rs 9,598.16 cr, from Rs 4010.94 cr a year ago. PTI ABI ABM ABM
BSE’s Chauhan to head expert panel on bringing NITIE Mumbai under IIM Act
New Delhi, Feb 4 (PTI) BSE's Chief Executive Officer and Allahabad University Chancellor Ashishkumar Chauhan will head an expert committee that will deliberate on the feasibility of bringing the National Institute of Industrial Engineering (NITIE) Mumbai under the IIM Act. NITIE Mumbai, established by the Government of India in 1963, is an [...]
Mukesh Ambani’s latest buy: A Rolls Royce costing Rs 13.14 crore
Mumbai, Feb 4 (PTI) Reliance Industries (RIL), headed by India's richest man Mukesh Ambani, has bought an ultra-luxury Rolls Royce hatchback costing Rs 13.14 crore.If RTO officials are to be believed, it is one of the most expensive car purchases ever in the country.The car, a Rolls Royce Cullinan petrol model, was registered by RIL [...]
No abnormal imports of apples noticed during Apr-Nov 2021 period: Govt
New Delhi, Feb 4 (PTI) The government on Friday said that no abnormal imports of apples have been noticed during April-November 2021 as only 1,183.79 MT worth USD 1.04 million of the fruit were imported during that period in the country. Apple imports from Dubai (UAE) are subject to normal MFN (Most Favoured Nation) rates [...]
STFC raises Rs 525 cr by issuing bonds
New Delhi, Feb 4 (PTI) Shriram Transport Finance Company (STFC) has raised Rs 525 crore by issuing secured bonds on a private placement basis, the company said on Friday. The non-banking finance company allotted 5,250 non-convertible debentures (NCDs) of face value of Rs 10 lakh each on February 2, 2022, STFC said in a regulatory [...]
Govt says has received complaints against online firms alleging FDI policy violation
New Delhi, Feb 4 (PTI) The government has received complaints from trader and industry associations against marketplace online retail firms alleging violation of the FDI policy on e-commerce sector, Parliament was informed on Friday. It has been alleged that certain marketplace e-commerce entities have created complex ownership structures and are engaging in an inventory-based model [...]
Pakistan signs new pact with China to kick off 2nd phase of CPEC during PM Khan’s visit to Beijing
Beijing, Feb 4 (PTI) Pakistan on Friday signed a new agreement with China to begin the second phase of the USD 60 billion China-Pakistan Economic Corridor (CPEC) as Prime Minister Imran Khan showered praise on the controversial projects, saying it has strategic significance for both the countries and delivering tangible benefits to the people. Khan, [...]
Radico Khaitan Q3 net profit down 5.8% at Rs 79.13 cr; sales up 8.8% at Rs 3,306.67 cr
New Delhi, Feb 4 (PTI) Liquor maker Radico Khaitan Ltd has reported a decline of 5.88 per cent in its consolidated net profit at Rs 79.13 crore for the third quarter ended December 2021. The company had posted a consolidated net profit of Rs 84.08 crore in the October-December quarter a year ago, Radico Khaitan [...]
Cipla to buy 32.49% stake in solar power firm
New Delhi, Feb 4 (PTI) Drug major Cipla on Friday said it has signed a pact to acquire 32.49 per cent stake in AMP Energy Green Eleven to set up a captive solar power project in Maharashtra.The company has entered into a shareholder's agreement along with the power purchase agreement to acquire up to 32.49 [...]
World Cancer Day: Green Trends salon donates 100 wigs
Chennai, Feb 4 (PTI): Green Trends, a beauty salon of consumer goods firm CavinKare Ltd, on Friday said it has committed to donate 100 wigs to underprivileged cancer patients under its corporate social responsibility initiative 'Shair'. Commemorating the World Cancer Day today, the city-based company said the salon chain delivered the first batch of 50 [...]
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