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Ashish Kacholia stock jumps after receiving orders worth ₹ 35 Cr from Saudi Arabia
Shares of this small-cap company, specializing in Geographical Information Services, rose nearly 2.15 percent to Rs. 800 per share after securing Rs. 35 crore projects from NEOM and the Saudi Geological Survey, marking a significant advancement in the adoption of geospatial technology for infrastructure development in Saudi Arabia. Price Movement In Friday’s trading session, Genesys [...]
Stock under ₹ 60 jumps 16% after signing contract worth ₹ 115.13 Cr for solar power plant
Penny stock engaged in the business of manufacturing and trading Iron ore pellets, sponge iron, steel billets, HB wires, and generation of power jumped upto 16 percent in the day’s trade upon signing EPC agreement for solar power plant worth Rs. 115.13 Crores. Price Action With a market capitalization of Rs. 176 Crores, the shares [...]
Stock jumps 12% after signing LoI with McDonald’s to boost retail business
The shares of the logistic solution provider gained up to 12 percent after the company signed a prestigious letter of intent with McDonald's to boost retail business. Kaushalya Logistics Ltd has a market capitalization of Rs 262.20 crore the shares were trading at Rs 141.50 per share, increasing around 7 percent as compared to the [...]
Railway stock jumps after signing MoU with Engineers India for Govt projects
The shares of this largecap company jumped around 1 percent in Friday’s trading session after entering into an MoU with a Navratna company to explore global business opportunities. The stock has delivered more than 100 percent return to its shareholders in just six months. Price Movement: With a market capitalization of Rs. 1,09,735 crores, the [...]
Ethanol stocks jump 10% after Govt to increase MSP for sugar; Also to remove ban on export
The Indian sugar stocks soared upto 10 percent in the day’s trade thereby sweetening the mouth of its investors after Food Minister Pralhad Joshi announced the government is considering the industry's demand of hiking the minimum selling price (MSP) of sugar from the current level of Rs 31 per kg, along with ethanol prices and [...]
Infra stock hits 5% upper circuit after receiving ₹ 468 Cr order from KPI Green Energy
During Friday’s morning trading session, the shares of a company engaged in providing EPC and operations and maintenance (O&M) services hit a 5% upper circuit at Rs. 627.6 on BSE, after securing a work order worth nearly Rs. 468 crores from KPI Green Energy Limited. With a market capitalisation of Rs. 6,750.6 crores, at 11:30 [...]
Transfomer stock hits 5% upper circuit after receiving ₹ 675 Cr solar power project under KUSUM Scheme
The shares of this smallcap company locked a 5 percent upper circuit after receiving an order to develop an lSO MW(AC) Grid-Interactive Ground-Mounted Solar PV Power Generation Plant worth Rs. 675 crores. Price Movement: With a market capitalization of Rs. 4,834 crores, the shares of Marsons Ltd started Friday’s trading session on a higher note [...]
Microcap stock jumps 3% after receiving order worth ₹ 65 Lakhs from REC
The shares of solar energy solution providers gained up to 3 percent after the company received significant order worth Rs 65 lacs under Muft Bijli Yojana. With a market capitalization of Rs 107.88 crore, the shares of Ahasolar Technologies Ltd were trading at Rs 793.85 per share, increasing around 1.37 percent as compared to the [...]
Mukul Agrawal stock jumps 4% despite FIIs likely sold 6.4% stake in the company
The shares of the wealth management company jumped up to 4 percent despite Edel Finance Co & Ecap Equities, an FII likely to offload 22.10 lakh shares in a block deal. With a market capitalization of Rs 24,869.84 crore, the shares of Nuvama Wealth Management Ltd were trading at Rs 6,963.10 per share, increasing around [...]
Stocks that will never go out of business
The Indian stock market in 2024 is set for a promising trajectory with anticipated gains across major indices and sectors. Over the past two decades, India's stock market has consistently outperformed both developed and emerging markets, indicating robust investor confidence and economic resilience. Here are a few stocks that have established themselves as a vital [...]
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Top Editor’s Pick
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
ICSI, ICAI applaud Budget 2022; say it is forward-looking
New Delhi, Feb 2 (PTI) The Institute of Company Secretaries of India (ICSI) has applauded the Union Budget 2022 and said its focus on productivity, climate action, financing investment and the PM Gati Shakti plan is aimed at promoting growth and sustainability. "It is a very progressive Budget aiming at inclusive development through incentivising MSME [...]
GE T&D India reports Rs 10 lakh loss in Oct-Dec
New Delhi, Feb 2 (PTI) GE T&D India on Wednesday reported a loss of Rs 10 lakh for the October-December quarter against a net profit of Rs 55.92 crore in the quarter ended on December 31, 2020. Total income of the company stood at Rs 915.45 crore in the quarter, lower than Rs 1,057 crore [...]
J&K Admin assures all help for cultivation of land along IB in Kathua
Jammu, Feb 2 (PTI) A senior government official on Wednesday assured all help including provision of agriculture machinery to farmers on priority basis to enable them to cultivate land along the international border in Kathua district of Jammu and Kashmir. Principal Secretary, Agriculture Production and Farmers Welfare, Navin K Choudhary gave the assurance during a [...]
Yashwant Sinha labels Union Budget as ‘incomplete’
Kolkata, Feb 2 (PTI) Former Union finance minister Yashwant Sinha on Wednesday described that the budget presented in Parliament the previous day as ‘incomplete’ claiming that it has not taken into account all the challenges.He expressed concern over unusually high government borrowing on account of large fiscal deficit, declining domestic savings from 37-38 per cent [...]
Commerce ministry to soon notify modified interest subsidy scheme for exporters: Secy
New Delhi, Feb 2 (PTI) The interest subsidy or equalisation scheme has been approved by the Cabinet and the commerce ministry will "very" soon notify the "improved and modified" scheme for the exporters' community, a top government official said on Wednesday. Exporters have demanded the extension of the scheme. They get a subsidy under this [...]
New SEZ Act will be WTO-compliant, will have high-class infra: Comm secy
New Delhi, Feb 2 (PTI) The new law for special economic zones (SEZs) will comply with the global trade rules of the WTO and it will have a single-window clearance system besides world-class infrastructure and easy customs procedures, Commerce Secretary B V R Subrahmanyam said on Wednesday. The government on Tuesday proposed to replace the [...]
Sheikh Mohamed bin Rashid receives Kerala CM in Dubai
Thiruvananthapuram, Feb 2 (PTI) Kerala Chief Minister Pinarayi Vijayan, currently touring the UAE, on Wednesday visited the Dubai Expo 2020 venue where he was received by Sheikh Mohamed bin Rashid Al Maktoum, Vice President & Prime Minister of UAE and Ruler of Dubai. During the meeting, the Chief Minister thanked Sheik Mohamed bin Rashid for [...]
Tata Consumer Products Q3 Results: Consolidated net profit jumps 22.2%
Tata Consumer Products Ltd (TCPL) on Wednesday reported a 22.19 per cent jump in its consolidated net profit to Rs 290.07 crore for the third quarter ended December 31, 2021, helped by volume-driven growth in the domestic market. The company had posted a net profit of Rs 237.38 crore in the corresponding quarter last year, [...]
New SEZ Act will be WTO-compliant, will have high-class infra: Comm secy
New Delhi, Feb 2 (PTI) The new law for special economic zones (SEZs) will comply with the global trade rules of the WTO and it will have a single-window clearance system besides world-class infrastructure and easy customs procedures, Commerce Secretary B V R Subrahmanyam said on Wednesday. The government on Tuesday proposed to replace the [...]
‘Comprehensive dispute resolution mechanism will need specialised commercial courts within GIFT City’
New Delhi, Feb 2 (PTI) Setting up an international arbitration centre at GIFT City is welcome but a comprehensive dispute resolution mechanism will be said to be in place only when there are specialised commercial courts within GIFT City with judges equipped with commercial knowledge, according to a law firm. On Tuesday, the government announced [...]
CSC partners BSNL to sell mobile connections, recharges, bill payments
New Delhi, Feb 2 (PTI) Government-promoted CSC E-Governance India Ltd (CSC SPV) has signed a pact with Bharat Sanchar Nigam Ltd (BSNL) to provide services for the sale of BSNL SIM cards, mobile recharge and payment of bills to citizens at the last mile. CSC will facilitate the sale of BSNL mobile products and services, [...]
Households free to install rooftop solar panels by themselves, via vendors
New Delhi, Feb 2 (PTI) Households are free to install rooftop solar plants by themselves or through any vendor of their choice as per simplified procedures issued by the Ministry of New and Renewable Energy (MNRE). Earlier, residential consumers were required to source the rooftop solar plant from listed vendors only to avail subsidies and [...]
Chhattisgarh implements ‘One Nation One Ration Card’ plan
New Delhi, Feb 2 (PTI) Chhattisgarh has implemented 'One Nation One Ration Card' (ONORC) plan, enabling the people of the state to lift their foodgrains quota entitled under the food law from any ration shops across the country.The Department of Food & Public Distribution recently reviewed the progress of States/UTs towards the implementation of ONORC [...]
Apollo Tyres Q3 Results: Consolidated net profit declines 50%
Apollo Tyres on Wednesday said its consolidated net profit declined 49.54% to Rs 224 crore in the third quarter ended December 31, 2021. The company had posted a consolidated net profit of Rs 444 crore in the corresponding period last year. Its revenue from operations, however, increased 10 per cent to Rs 5,707 crore as [...]
Every action of State is required to be guided by touchstone of non-arbitrariness: SC
New Delhi, Feb 2 (PTI) The Supreme Court said on Wednesday that every action of the State is required to be guided by the touchstone of non-arbitrariness, reasonableness and rationality and is equally required to be guided by public interest.It said that power distribution companies (DISCOMS) are instrumentalities of the State within the meaning of [...]
Dhanuka Agritech Q3 profit up 6 pc at Rs 42.5 cr; revenue up 19 pc at Rs 364 cr
New Delhi, Feb 2 (PTI) Agro-chemicals firm Dhanuka Agritech Ltd on Wednesday reported a six per cent increase in its consolidated net profit to Rs 42.51 crore for the quarter ended December. Its net profit had stood at Rs 40.04 crore in the year-ago period. Total income increased to Rs 363.58 crore in the third [...]
Assam earmarked Rs 250cr for tea sector, urge industry to avail fiscal benefits: CM
Kolkata, Feb 2 (PTI) Assam Chief Minister Assam Himanta Biswa Sarma on Wednesday said the state has earmarked Rs 250 crore for the tea sector, and urged the industry to avail the fiscal benefits.Addressing the annual general meeting of India Tea Association (ITA) virtually, Sarma said the fiscal aid will be provided in the form [...]
HCC Group signs pact with Cube for sale of Baharampore-Farakka Highway in Bengal
Kolkata, Feb 2 (PTI) HCC Group on Wednesday said it has signed an agreement with Cube Highways to sell Baharampore-Farakka Highways Ltd (BFHL) at an enterprise value of Rs 1,279 crore.It is a 101-km long road which is part of National Highway-12 in West Bengal connecting Kolkata and the port of Haldia to the northern [...]
H&M to introduce H&M Home in India this spring
New Delhi, Feb 2 (PTI) Swedish multinational clothing company H&M on Wednesday announced to introduce H&M Home in India in both online and offline formats. H&M Home offers fashion-forward decor and accessories for every room and style. Its assortment ranges from high-quality bedlinen and dinnerware to diversified textiles, with contemporary style. H&M India has announced [...]
Servotech Power Systems Q3 profit up
New Delhi, Feb 2 (PTI) Servotech Power Systems posted a consolidated net profit of Rs 1.07 crore in the December quarter, up from Rs 85.97 lakh in the same period a year ago. Total consolidated income of the company rose to Rs 41.42 crore in the quarter ended on December 31, 2021 from Rs 25.03 [...]
Drunk driving causes 8,355 road accidents in 2020; wrong-side driving leads to 20,228 mishaps
New Delhi, Feb 2 (PTI) Drunk driving led to 8,355 road accidents, while driving on the wrong side caused 20,228 mishaps during the calendar year 2020, Parliament was informed on Wednesday. In a written reply to Rajya Sabha, Minister of Road Transport and Highways Nitin Gadkari said a total of 3,66,138 road accidents occurred in India [...]
Centre says approval for Kerala’s K-Rail proj will depend on ‘techno-economic viability’
New Delhi, Feb 2 (PTI) The Centre is yet to sanction Kerala government's proposed Rs 63,941 crore K-Rail project and the detailed project report does not have sufficient details to assess the technical feasibility, Union minister Ashwini Vaishnaw said on Wednesday. In a written reply to the Lok Sabha, the railways minister also emphasised that [...]
DPIIT to soon seek Cabinet approval on FDI policy changes for LIC: Secretary
New Delhi, Feb 2 (PTI) The Department for Promotion of Industry and Internal Trade (DPIIT) will soon approach the Union Cabinet to seek its approval on changes in the foreign direct investment (FDI) policy to facilitate disinvestment of the country's largest insurer LIC, a top government official said on Wednesday. DPIIT Secretary Anurag Jain said [...]
Mills exports 26.5 lakh tn of sugar till Jan in 2021-22 mkt year
New Delhi, Feb 2 (PTI) Sugar mills have exported 26.5 lakh tonnes of sugar in the first four months of the 2021-22 marketing year ending September, the government said on Wednesday. In 2020-21, 70 lakh tonnes of sugar was exported. In reply to a Lok Sabha question, Minister of State for Food and Consumer Affairs [...]
Higher public investment to stimulate demand, generate jobs: DEA Secretary
New Delhi, Feb 2 (PTI) The Budget proposals seek to stimulate the economy by stepping up public investments, which will create demand for industrial inputs like cement, steel and capital goods, and generate jobs, Economic Affairs Secretary Ajay Seth said. Finance Minister Nirmala Sithaharaman in her Budget 2022-23 hiked public investment by as much as [...]
Axis Mutual Fund eyes Rs 100 cr from new equity ETF fund of funds
Mumbai, Feb 2 (PTI) Axis Mutual Fund is targeting to collect Rs 100 crore from its new equity ETF fund of funds during the primary subscription period, which opens on February 4 and closes on 18. The open-ended fund of fund scheme will predominantly invest in units of domestic equity ETFs and is looking to [...]
Zee Entertainment Q3 Results: Consolidated net profit drops 25% YoY
New Delhi, Feb 2 (PTI) Zee Entertainment Enterprise Ltd on Wednesday reported a consolidated net profit of Rs 298.98 crore for the third quarter ended December 2021. The company had reported a net profit of Rs 398.01 crore in the October-December period a year ago, Zee Entertainment Enterprise Ltd (ZEEL) said in a BSE filing. [...]
Over 6,000 URLs, accounts or websites blocked in 2021: Chandrasekhar
New Delhi, Feb 2 (PTI) More than 6,000 URLs, accounts or websites were blocked in 2021, Parliament was informed on Wednesday. Blocking directions are issued following the due process as prescribed in the Information Technology (Procedure and Safeguards for Blocking for Access of Information by Public) Rules, 2009, Minister of State for Electronics and IT [...]
1.72 lakh individual cases of call drops resolved via IVRS mechanism: MoS Communications
New Delhi, Feb 2 (PTI) About 1.72 lakh individual cases of call drops have been resolved so far and around 7,920 Base Transceiver Stations (BTSs) installed by telecom operators specifically to address call drop issues received through DoT's IVRS system, Lok Sabha was informed on Wednesday. The Department of Telecom (DoT) had launched an Interactive [...]
51 projects sanctioned under Trade Infra for Export Scheme till January-end
New Delhi, Feb 2 (PTI) As many as 51 projects have been sanctioned under the Trade Infrastructure for Export Scheme (TIES) till the end of January and out of that, 13 projects are already completed, Parliament was informed on Wednesday. The government is implementing this scheme from 2017-18, with the objective of assisting central and [...]
India extends USD 500 million credit line to Sri Lanka for purchasing fuel
Colombo, Feb 2 (PTI) India on Wednesday extended a USD 500 million credit line to Sri Lanka to fund the country’s fuel purchases, as the island nation struggles to overcome its worst financial and energy crisis in decades. India's support for fuel imports by Sri Lanka from India was in response to the urgent requirement [...]
Dabur shares gain 2 pc after earnings
New Delhi, Feb 2 (PTI) Shares of Dabur India Ltd on Wednesday gained 2 per cent after the company reported a 2.19 per cent increase in consolidated net profit for the quarter ended December 2021.The stock jumped 2.01 per cent to settle at Rs 557.40 on BSE. During the day, it gained 2.77 per cent [...]
India extends USD 500 million credit line to Sri Lanka for purchasing fuel
Colombo, Feb 2 (PTI) India on Wednesday extended a USD 500 million credit line to Sri Lanka to fund the country’s fuel purchases, as the island nation struggles to overcome its worst financial and energy crisis in decades. India's support for fuel imports by Sri Lanka from India was in response to the urgent requirement [...]
Underground coal gasification technology not proven commercially: Joshi
New Delhi, Feb 2 (PTI) Coal Minister Pralhad Joshi on Wednesday told Parliament that underground coal gasification technology is not proven environmentally sustainable and commercially across the world and it is not under consideration for adoption in India. "Underground Coal Gasification is not a proven environmentally sustainable technology. Resultantly, Underground Coal Gasification (UCG) technology is [...]
Singapore Tourism Board launches safe itinerary guide for international travellers
Mumbai, Feb 2 (PTI) The Singapore Tourism Board (STB) on Wednesday said it has joined hands with five tourism industry associations in Singapore to launch the safe itinerary guide and 'Experience Singapore!' Compendium, as the country prepares to welcome international travellers. For this purpose, STB has joined hands with the National Association of Travel Agents [...]
Startups to drive future investments to the state, says Kerala Finance Minister
Kochi, Feb 2 (PTI) The Startup Ecosystem in Kerala will play a major role in bolstering future investments in the state, Finance Minister K N Balagopal said on Wednesday. Virtually inaugurating the seventh edition of Seeding Kerala, the Kerala Startup Mission's (KSUM) flagship initiative to attract high profile investors to the state by showcasing the [...]
Domestic two-wheeler sales dip 21 pc in Jan; recovery likely in coming months
Mumbai, Feb 2 (PTI) The domestic two-wheeler sales witnessed a 21 per cent year-on-year decline in January, even as the segment registered a 14 per cent sequential growth in domestic wholesale volumes, while the passenger vehicle wholesale volumes declined marginally by 3 per cent Y-o-Y, credit ratings agency ICRA said on Wednesday. The two-wheeler sales numbers [...]
Gujarat govt fixes toor dal price at Rs 50 per kg under PDS
Ahmedabad, Feb 2 (PTI) The Gujarat government on Wednesday fixed the price of toor or arhar dal (pigeon pea) distributed at subsidised rate under the public distribution system (PDS) at Rs 50 per kg to avoid uncertainty over its regularly changing cost.Government spokesperson and Education Minister Jitu Vaghani said availability of toor dal at a [...]
Draft LIC IPO prospectus to be filed by next week, issue in March: DIPAM Secy
New Delhi, Feb 2 (PTI) The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday. In an interview with PTI, Tuhin Kanta Pandey, Secretary [...]
V-Guard Industries Q3 Results: Consolidated net profit declines 31%
Consumer electronics maker V-Guard Industries on Wednesday reported a 31 per cent decline in consolidated net profit to Rs 53.92 crore for the third quarter ended December 31, 2021. The company had posted a consolidated net profit of Rs 78.25 crore in the same quarter last fiscal, V-Guard Industries said in a statement. Its consolidated [...]
Budget lays foundation for growth in next 25 years, says Niti Aayog VC
New Delhi, Feb 2 (PTI) Asserting that the Union Budget lays the foundation for the country's long-term growth in the next 25 years, Niti Aayog Vice-Chairman Rajiv Kumar on Wednesday said the government is taking all possible measures to ignite private investments, which will be the best bet to pull the economy out of the [...]
India extends USD 500 million credit line to Sri Lanka for purchasing fuel
Colombo, Feb 2 (PTI) India on Wednesday extended a USD 500 million credit line to Sri Lanka to fund the country’s fuel purchases, the Indian High Commission said, as the island nation struggles to overcome its worst financial and energy crisis in decades. Last month, the Indian High Commission said that External Affairs Minister S [...]
India on track to achieve $400 bn exports, negotiating FTAs with countries: Goyal
New Delhi, Feb 2 (PTI) India is on track to achieve the USD 400-billion export target in the current fiscal and is negotiating trade agreements with countries like the UAE, the EU and Canada, Commerce and Industry Minister Piyush Goyal said on Wednesday. In a reply during Question Hour in the Lok Sabha, he said [...]
Commerce ministry to soon notify modified interest subsidy scheme: Secretary
New Delhi, Feb 2 (PTI) The interest subsidy or equalisation scheme has been approved by the Cabinet and the commerce ministry will "very" soon notify the "improved and modified" scheme for the exporters' community, a top government official said on Wednesday. Exporters have demanded the extension of the scheme. They get a subsidy under this [...]
HDFC Q3 Results: Consolidated net profit rises 13% to Rs 5,837 cr
The country's largest mortgage lender HDFC on Wednesday reported a standalone net income of Rs 3,261 crore for the three months to December 2021, logging in an 11 per cent growth over Rs 2,926 crore in the the same quarter of the previous year, on higher loan sales. On a consolidated basis, the company reported [...]
Fermenta’s Thane property to be developed for construction of residential-cum-commercial buildings
Thane (Maharashtra) [India], February 2: Fermenta Biotech Limited (‘Fermenta’) announced that it has signed a Binding Term Sheet today with Mextech Property Developers LLP (‘Mextech’) for the balance development of its Thane property through Mextech, whose key partners are Mr Anil Mutha and Mr Rajesh R. Patel. Mr Anil Mutha is the Promoter of Nandivardhan [...]
Dabur Q3 Results: Consolidated net profit rises 2.19%, Net sales up 7.8%
Homegrown FMCG major Dabur India Ltd on Wednesday reported a 2.19 per cent increase in consolidated net profit to Rs 504.35 crore for the quarter ended in December 2021. The company had posted a consolidated net profit of Rs 493.50 crore in the October-December quarter a year ago, Dabur India said in a BSE filing. [...]
CCI approves acquisition of equity in Escorts by Kubota Corporation
New Delhi, Feb 2 (PTI) Fair trade regulator CCI on Wednesday approved the acquisition of certain additional equity in Escorts Ltd by Kubota Corporation. The transaction involves Kubota's acquisition of certain additional equity shares of Escorts by way of preferential allotment and a mandatory tender offer in compliance with the Securities and Exchange Board of [...]
H&M India introduces home furnishing brand H&M Home in both online, offline formats
New Delhi, Feb 2 (PTI) Swedish multinational clothing company H&M on Wednesday announced to introduce its home furnishing brand H&M Home in India in both online and offline formats. H&M Home offers fashion-forward decor and accessories for every room and style. Its assortment ranges from high-quality bedlinen and dinnerware to diversified textiles, with contemporary style. [...]
UnivReach Connects 4000 plus Students to Universities from Over 5 Countries
New Delhi, Delhi, India (NewsVoir) University Connection is successfully bridging the gap between students and universities by providing unbiased guidance and facilitation on colleges and scholarships. In close to a decade, University Connection has impacted over 10,000 students across the country. University Connection curated India’s first series of a location-specific virtual college fair, UnivReach, which [...]
KGiSL okays demerger of 2 divisions
Coimbatore, Feb 2 (PTI) City-based KG Information Systems Private Limited (KGiSL) has approved the de-merger of its Global Software Services (GSS) and Business Support Services (BSS) divisions. After the demerger, the two divisions would be different, independent entities. KiGSL said it took this decision so that the divisions can unlock their potential and pursue growth. [...]
Shriram AMC announces board approval of strategic investment by Mission1 Investments
New Delhi, Feb 2 (PTI) Shriram Asset Management Company (AMC) on Wednesday said its board has approved a strategic investment by Mission1 Investments, which will own a 23 per cent stake in the company, following the completion of the transaction. This partnership will sharpen Shriram Group's focus and attention towards building an investment solutions platform that is [...]
Draft LIC IPO prospectus to be filed by next week, issue in March: DIPAM Secy
New Delhi, Feb 2 (PTI) The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday. In an interview with PTI, Tuhin Kanta Pandey, Secretary [...]
‘What I am Today is because of Random Acts of Kindness from Strangers,’ says Best Selling Author Abbas Kazerooni
Kolkata, West Bengal, India (NewsVoir) Abbas Kazerooni, the Iranian-born best selling author of children’s books On Two Feet and Wings and The Boy With Two Lives, while participating in a virtual session of The Universe Writes, said, “One of the themes of both my books are that human beings are more good than they are [...]
Meghalaya CM inaugurates Shillong Technology Park
Shillong, Feb 2 (PTI) Meghalaya Chief Minister Conrad K Sangma on Wednesday inaugurated the 'Shillong Technology Park' in presence of state Information Technology and Communication Minister Hamletson Dohling and PHE Minister Renikton Lyngdoh. Speaking at the inaugural ceremony, the chief minister said the Shillong Technology Park will provide a golden opportunity to IT professionals of [...]
BULLION CLOSING
MUMMBAI, FEB 2 (PTI) MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 61375.00 61430.00 STANDARD GOLD (99.5) : 47816.00 47892.00 PURE GOLD (99.9) : 48008.00 48085.00 --------------- PTI MUM SVC SVC SVC
Benchmarks build on gains as Budget cheer continues; bank, finance stocks sparkle
Mumbai, Feb 2 (PTI) The BSE Sensex surged nearly 700 points to recapture the 59,000-level on Wednesday as the post-Budget rally continued for the second session with intense buying in banking and financial stocks amid supportive global cues. The Union Budget 2022-23, with higher allocation to infrastructure, is likely to provide a boost to the [...]
Magenta e-mobility platform implements new fleet mgt system
Mumbai, Feb 2 (PTI) Magenta's e-mobility platform EVET has implemented a new connected fleet management system, which offers real-time insights for track and trace, vehicle health, driving behaviour and state of charge and low charge alarms, among others, to its EV delivery and logistics services. Besides, the connected solution will also help in preventive maintenance [...]
Hindustan Zinc Wins 1st Bronze Medal, Features in S&P Global Sustainability Yearbook for 5th Consecutive Year
Hindustan Zinc is one of only two Indian companies in the Metal & Mining sector to be included in the Sustainability Yearbook 2022 Udaipur, Rajasthan, India – Business Wire India Hindustan Zinc, India's only and among the world's leading integrated zinc-lead-silver producers, has won the 1st Bronze Medal and been featured in the prestigious Sustainability [...]
WhizHack Technologies and IIT Jodhpur TISC Launch India’s 1st Multi-tiered Cyber Security Certified Training for School Going Teenagers
Mumbai, Maharashtra, India (NewsVoir) • The career pathway trainings will provide opportunities for the teenagers to start early in getting skilled in cyber security to pave a brighter future in the booming industry • 1st time in India, IIT-J TISC certification will be provided to school going teenagers on completing the training WhizHack Technologies, in [...]
Next year’s I-T return to have separate column for crypto income: Revenue Secy
New Delhi, Feb 2 (PTI) Income tax return forms from next year will have a separate column for making disclosures on gains made from cryptocurrencies and paying taxes, Revenue Secretary Tarun Bajaj said on Wednesday. The government will from April 1 charge a 30 per cent tax plus cess and surcharges, on such transactions in [...]
Allowing ITR updation for 2 years by paying extra tax not an amnesty scheme: Revenue Secy
New Delhi, Feb 2 (PTI) The two-year window provided to taxpayers to disclose omitted income and correct mistakes made in income tax returns, is not an amnesty scheme, Revenue Secretary Tarun Bajaj said on Wednesday emphasising that an additional 25 per cent tax will have to be paid on income that wasn't previously disclosed. The [...]
How Central Bank Digital Currencies may impact the monetary system
Authors: Muralikrishnan Puthanveedu and Prashant Gandhi, Principal Consultants, Financial Services at Thoughtworks Central Bank Digital Currencies (CBDCs) are set to be an integral part of the future of finance. Ongoing digitalization of the economy is changing the way people pay. The use of cash, the only form of central bank money available to the public, [...]
Adani Ports shares bounce back; settle with nearly 1 pc gain
New Delhi, Feb 2 (PTI) Shares of Adani Ports and Special Economic Zone (APSEZ) on Wednesday bounced back after an initial decline and settled with nearly 1 per cent gain. During the early trade, it slipped over 2 per cent after the company reported a 6.20 per cent decline in consolidated profit for the third quarter [...]
Jubilant FoodWorks’ Q3 Results: Consolidated net profit rises 7.5%
Jubilant FoodWorks Ltd (JFL), which operates quick service restaurant (QSR) chains like Domino's Pizza and Dunkin' Donuts, on Wednesday reported a 7.48 per cent increase in its consolidated net profit to Rs 133.19 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 123.91 crore in the corresponding [...]
Customer Data Platform, FirstHive Receives Funding from Mela Ventures to Accelerate Global Growth
FirstHive aims to expand its global presence in the B2C Enterprise market across various geographies, as it continues to dominate the CDP space in India and SEA The funding validates the customer and investor confidence in the need for CDP across various industry verticals BANGALORE, India, Feb. 2, 2022 /PRNewswire/ -- FirstHive, a Customer Data [...]
Soteria partners with Europe-India Sports Cluster for stadiums smart surveillance
Leaders in remote monitoring to provide smart monitoring to EBTC stadiums NEW DELHI, Feb. 2, 2022 /PRNewswire/ -- Soteria, leaders in remote monitoring and security surveillance have joined hands with Europe-India Sports Cluster, a part of the European Business and Technology Centre to provide smart monitoring and surveillance services for stadiums and sports infrastructure facilities. [...]
Sundaram Auto Components conferred with TPM Excellence Award for its Mysuru Plant
Mysuru plant is one of the 25 manufacturing units globally to bag the honour for 2021 Mysuru, Karnataka, India (NewsVoir) Sundaram Auto Components Limited (SACL), a TVS Group Company and one of India’s leading plastic auto component manufacturers has been recognised in the category, ‘Total Productive Maintenance (TPM) Excellence Award’- presented by Japan Institute of [...]
Aluminium players say captive power plants facing alarmingly depleted coal stock, seeks govt help
New Delhi, Feb 2 (PTI) Seeking the government's intervention, the Aluminium Association of India (AAI) has said the sector's captive power plants are facing "alarmingly" depleted coal stock of only three-four days as against the prescribed level of 15 days. The aluminium industry has also made a plea to earmark at least 25-30 coal rakes [...]
M5 Entertainment Talent Agency Onboards Kareena Kapoor Khan and Saif Ali Khan for Tata Play
Mumbai, Maharashtra, India (NewsVoir) M5 Entertainment facilitated the deal for Kareena Kapoor Khan and Saif Ali Khan to be a part of the newest Tata Play’s campaign across various platforms. M5 Entertainment is currently a pioneer in the industry dealing with the biggest celebrities and making sure that the brands get what they are looking [...]
Sri Lanka to sign USD 500 million credit line with India today
Colombo, Feb 2 (PTI) Sri Lanka on Wednesday will formally sign an agreement with India for a USD 500 million credit line, which would help fund fuel purchases at a time when the country is facing its worst financial and energy crisis in decades.Last month, the Indian High Commission here said that External Affairs Minister [...]
Budget 2022 has everything needed for energy transition: R K Singh
New Delhi, Feb 2 (PTI) Union Power Minister R K Singh said the Budget 2022-23 has everything that is required for energy transition, including a provision for additional Rs 19,500 crore to boost domestic solar equipment manufacturing by up to 45 gigawatts (GW). In the Budget, Finance Minister Nirmala Sitharaman provided additional Rs 19,500 crore [...]
Budget proposals to push exports, manufacturing: exporters
New Delhi, Feb 2 (PTI) Steps announced in the Budget such as extension of the ECLGS scheme, a new law for special economic zones and setting up of 100 cargo terminals will help in boosting economic growth and exports from the country, according to exporters and industry. Vikramjit Sahney, Chair – BRICS Agri Business Council, [...]
Budget for making India self-reliant, says PM
New Delhi, Feb 2 (PTI) Prime Minister Narendra Modi on Wednesday said the post-pandemic world was on the cusp of change and it was imperative for India to change at a rapid pace to emerge as a self-reliant nation. Addressing a symposium on 'Atmanirbhar Arthavyavastha' (self-reliant economy) organised by the BJP, he listed out initiatives [...]
Maruti Suzuki reports marginal increase in production in Jan
New Delhi, Feb 2 (PTI) The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday said it has witnessed a marginal increase in production last month. In a regulatory filing, the auto major reported a total production of 1,61,383 units in last month as compared to 1,60,975 units in January 2021. "The shortage of electronic [...]
COMMODITY PRICES
MUMBAI, FEB 2 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST.COPPER :- COPPER CABEL SCRAP 737.00 COPPER HEAVY SCRAPS 726.00 COPPER ARMATURE (CREDIT) 705.00 COPPER UTENSILS SCRAP 637.00 CC ROD 783.00 BRASS :- BRASS SHEET CUTTING 537.00 BRASS UTENSIL SCRAP 486.00 BRASS HONEY 480.00 ALUMINIUM :- ALUMINIUM UTENSIL SCARPS 184.00 ALUMINIUM EXTRUSION SCRAP 216.00 ALUMINIUM INGOTS [...]
Adani Green Energy Q3 Results: Consolidated net profit up 20%
Adani Green Energy on Wednesday posted a nearly 20 per cent rise in its consolidated net profit to Rs 49 crore in the October-December quarter compared to the year-ago period mainly on the back of higher revenues. The company had reported a consolidated net profit of Rs 41 crore in the quarter ended on December [...]
PRICES MUM OILSEEDS CLOSING
MUMBAI, FEB 2 (PTI) OILS (per 10 Kgs) G.Nut Raw 1340.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1215.00 Sunflower Exp.Ref. 1280.00 Cottonseed(Refined) 1300.00 Refined Palm Oil 1225.00 Soyabean Ref. 1270.00 Imp.Soyabean Crude - Rapeseed Ref. 1690.00 Rapeseed Exp. 1660.00 Copra white 1580.00 Rice Bran 4-7% FFA - Rice Bran 1180.00 Linseed 1850.00 Castor [...]
Sectors that will get affected by the budget – Top Gainers and Losers
Finance Minister Nirmala Sitharaman laid out India’s budget for the financial year starting April 1, 2022, on Tuesday. The pandemic has crippled small businesses and widened inequalities. India is Asia’s third-largest economy and the budget calls for bigger spending as it is recovering from the pandemic. There were expectations that the budget will address issues [...]
Tata Group excited to work together to make AI the airline of choice: Ratan Tata
New Delhi, Feb 2 (PTI) 'Tata Group is excited to work together to make Air India the airline of choice in terms of passenger comfort and service'. This is an audio message from Ratan Tata played onboard some Air India flights. Tata Group completed the takeover of the loss-making Air India on January 27. On [...]
Crypto tax will help I-T measure ‘depth’ of market; does not bestow legality to trade: CBDT Chief
New Delhi, Feb 2 (PTI) The Budget announcement of taxing 'virtual digital assets' or crypto currencies will help the Income-Tax department measure the "depth" of this trade in the country, know the investors and the nature of their investments and it does not "attach any legality" to these transactions, CBDT Chairman J B Mohapatra said. [...]
Zouk eyes Rs 100 cr annual revenue run rate by FY23
New Delhi, Feb 2 (PTI) Direct-to-consumer (D2C) lifestyle brand Zouk on Wednesday said it aims to garner Rs 100 crore annual revenue run rate by FY23 as it looks to expand product range and strengthen international operations across the US and Middle East.Founded by Disha Singh and Pradeep Krishnakumar, Zouk makes laptop bags, tote handbags, [...]
Karnataka approves 88 industrial projects worth Rs 2,367.99 cr
Bengaluru, Feb 2 (PTI) The Karnataka government has approved 88 industrial projects worth Rs 2,367.99 crore that would generate jobs for over 10,904 people in the State. The 129th meeting of the State Level Single Window Clearance Committee (SLSWCC) held under the chairmanship of Minister for Large and Medium Scale Industries Murugesh R Nirani on [...]
Areca nut, coconut prices
Mangaluru, Feb 2 (PTI): Following are areca nut and coconut prices. Areca (per QTL) Old Supari : Rs 48000 to Rs 53500 model Rs 51500 New Supari : Rs 40000 to Rs 45000 model Rs 43000 Koka: Rs 30000 to Rs 39000 model Rs 35000 Coconut [per thousand]: 1st quality: Rs 18000 to Rs 20000 [...]
PM Narendra Modi says that Digital rupee can be exchanged for cash
Prime Minister Narendra Modi on Wednesday said the digital rupee, proposed in the union budget, could be exchanged for cash and will open new opportunities in the fintech sector. Addressing the 'Atmanirbha Arthavyavastha' (self-reliant economy) symposium organised by the BJP, he said the central bank digital currency or the digital rupee will make online payments [...]
GDP of India expected to grow 7.8% in FY23: Report
Domestic rating agency CRISIL on Wednesday estimated FY23 real GDP growth at 7.8 per cent as compared with the 8.5 per cent projected in the Economic Survey. Finance Minister Nirmala Sitharaman's Budget proposals focused on loosening the purse strings by boosting capital expenditure and going slow on fiscal consolidation are aimed in the right direction, [...]
Adani Green Energy net up 20% to Rs 49 cr in Dec quarter
New Delhi, Feb 2 (PTI) Adani Green Energy on Wednesday posted a nearly 20 per cent rise in its consolidated net profit to Rs 49 crore in the October-December quarter compared to the year-ago period mainly on the back of higher revenues. The company had reported a consolidated net profit of Rs 41 crore in [...]
Birla Cellulose aims ‘Net Zero Carbon emissions across all its operations by 2040’
- Aspiration to reach the target earlier by 2035 - To achieve 50% reduction in its greenhouse gas emissions intensity by 2030 MUMBAI, India, Feb. 2, 2022 /PRNewswire/ -- Birla Cellulose, the pulp and fibre business of Grasim Industries Ltd. a flagship company of the Aditya Birla Group, today announced its goal to bring down [...]
ONGC, IOC, others to spend Rs 1.11 lakh cr capex in FY23
State-owned oil firms such as ONGC and IOC will invest over Rs 1.11 lakh crore in the next fiscal year starting April as they supplement the government's massive spending programme to spur economic growth. Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC), GAIL (India) Ltd, Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation [...]
Living Liquidz Launches Mansionz a New Lifestyle Concept Bungalow in Mumbai with Bangalore and Pune on the Horizon
A luxury space where one can wine, dine and have a great time Mumbai, Maharashtra, India (NewsVoir) Want to spend your day in a luxury lifestyle experiential bungalow starting out with a cuppa coffee followed by a delectable Asian meal and concluding with a decadent drink at a world class tasting room where an expert [...]
Steps announced for SEZs in Budget will promote growth, boost exports: EPCES
New Delhi, Feb 2 (PTI) The Budget proposal announced to replace the existing law governing SEZs with a new legislation, and reforms in the customs administration of these zones, will help in further improving ease of doing business, promoting growth and boosting exports, EPCES said on Wednesday. Export Promotion Council for EOUs and SEZs Chairman [...]
THE LEELA PALACES, HOTELS AND RESORTS INTRODUCES SIGNATURE FRAGRANCE WITH THE LAUNCH OF ‘TISHYA BY THE LEELA’
MUMBAI, India, Feb. 2, 2022 /PRNewswire/ -- The Leela Palaces, Hotels and Resorts launches 'Tishya by The Leela', the brand's signature fragrance with an all-new range of exclusively crafted bath amenities. Tishya by The Leela celebrates the essence of India and the richness within, with a blend of authentic and inspiring aromas that transport you [...]
Kerala govt to implement rating score for tax paying traders
Thiruvananthapuram, Feb 2 (PTI) The Kerala government is gearing up to implement an exclusive 'rating score' for state's traders who submit their annual returns accurately on time and remit income tax without fail. Titled as "Tax Payer Card", the Kerala State Goods and Services Tax department is implementing the initiative for those traders who are [...]
Budget announcement for leather sector to boost exports: CLE
New Delhi, Feb 2 (PTI) The Budget announcement of import duty exemption on certain products such as embellishments and wet blue chrome tanned leather by bonafide exporters will help in boosting the outbound shipments from the sector, CLE said on Wednesday.Council for Leather Exports (CLE) Chairman Sanjay Leekha said that this is major support that [...]
Crude oil futures rise on spot demand
New Delhi, Feb 2 (PTI) Crude oil prices rose by Rs 56 to Rs 6,625 per barrel on Wednesday, as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for the February delivery traded higher by Rs 56, or 0.85 per cent, to Rs 6,625 per barrel in 11109 [...]
Rising demand lifts refined soya oil futures
New Delhi, Feb 2 (PTI) Refined soya oil prices on Wednesday rose by 20 paise to Rs 1,263 per 10 kg in futures trade as speculators raised their bets.On the National Commodity and Derivatives Exchange, refined soya oil for February delivery moved up by 20 paise, or 0.02 per cent, to Rs 1,263 per 10 [...]
Guar seed futures decline on low demand
New Delhi, Feb 2 (PTI) Guar seed prices on Wednesday declined by Rs 66 to Rs 6,272 per 10 quintal in futures trade.On the National Commodity and Derivatives Exchange, guar seed contracts for February delivery was trading down by Rs 66, or 1.04 per cent, at Rs 6,272 per 10 quintal with an open interest [...]
Guar gum futures fall on low demand
New Delhi, Feb 2 (PTI) Guar gum prices on Wednesday fell Rs 197 to Rs 11,655 per five quintal in futures market as traders offloaded their holdings in line with weak trend in spot market.On the National Commodity and Derivatives Exchange, guar gum for February delivery declined by Rs 197, or 1.66 per cent, to [...]
Budget short on structural reform announcements: Fitch
New Delhi, Feb 2 (PTI) India's budget for the fiscal beginning April focuses on giving a boost to the ongoing economic recovery through a sharp increase in capex spending but is short on major growth-enhancing structural reform announcements, Fitch Ratings said Wednesday.The deficit targets present in the Union budget 2022-23 by Finance Minister Nirmala Sitharaman [...]
MUMBAI, FEB 2 (PTI)
OPENING RATES SILVER SPOT (IN RS PER KILO): 61375.00 STANDARD GOLD (99.5) : 47816.00 PURE GOLD (99.9) : 48008.00 CALCUTTA BULLION :- SILVER RDY.(BAR) : 61400.00 RS. PER KG.SILVER RDY.(PORTION) : 61500.00 RS. PER KG.GOLD (24 CARAT) RDY. : 48700.00 RS. PER 10 GMS.GOLD (22 CARAT) RDY. : 46200.00 RS. PER 10 GMS.HALLMARKED GOLD(22 CARAT) [...]
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