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2 Stocks jump 6% after Mutual Funds bought up to 2.29% stake
Sensex and Nifty 50 opened slightly lower on Tuesday’s trading session, but soon hit record highs driven by gains in metal and energy stocks. Since the US Fed's 50 basis point rate cut, the Nifty has been hitting new highs, driven by optimism in global markets. Nifty reached a record high of 25,981.50, while Sensex [...]
Blue chip stock jumps after receiving orders worth ₹ 10,000 Cr from Saudi Arabia and UAE
Shares of this large-cap infrastructure company are attracting investor focus following the acquisition of several major contracts in Middle Eastern countries for the establishment of substations and transmission lines for interconnected electricity networks. Share Price Movement In Tuesday’s trading session, the share price of Larsen & Toubro (L&T) gained more than 1 percent reaching an [...]
Stock hits 5% upper circuit after Motilal Oswal Mutual Fund bought 2.12% stake
The shares of the small -cap retail fashion stock touched 5% upper circuit after Motilal Oswal Mutual Funds bought a 2.12% stake in the company. Share price variations: With a market capitalization of Rs. 4,232.7 crores, the shares of V2 Retail Limited hit its upper price band of 5% in NSE on Tuesday at Rs. [...]
Infra stock jumps 6% after receiving order worth ₹ 904 Cr for metro project
Infra stock engaged in providing Engineering, Procurement, and Construction (EPC) services catering to roads, metros, highways, and other infrastructure projects across India jumped upto 6 percent in the day’s trade upon receiving a new work order worth Rs. 904 Crores from MMRCL. Price action With a market capitalization of Rs. 16,631 Crores, the shares of [...]
Stock jumps 7% after it acquires UK based company Ascensos Ltd for ₹ 46.89 Cr
The shares of the leading BPM services provider gained up to 7 percent after the company announced the strategic acquisition of Ascensos Limited worth GBP 42 million. With a market capitalization of Rs 23,084.34 crore, the shares of Firstsource Solutions Ltd were trading at Rs 331.20 per share, increasing around 5.19 percent as compared to [...]
Smallcap stock jumps 6% after Vijay Kedia bought stake in the company
The shares of this smallcap company surged around 6 percent in Tuesday’s trading session after Vijay Kedia through Kedia Securities Private Ltd bought a stake in the company. In six months the stock has delivered more than a 20 percent return to its shareholders. Price Movement: With a market capitalization of Rs. 8,359 crores, the [...]
Pharma stock jumps 12% after it receives nod to import drugs for cancer and tumors
Pharma stock is engaged in manufacturing, distributing, and marketing pharmaceutical products catering to various medical areas jumped 12 percent in the day’s trade upon receiving approval to import for sale and distribution of drug used to treat cancer and tumors. Price action With a market capitalization of Rs. 18,728 Crores, the shares of Astrazeneca Pharma [...]
Ambani group stock jumps 3% after receiving solar EPC orders worth ₹ 512 Cr
Shares of this leading global provider of end-to-end solar engineering, procurement, and construction (EPC) solutions rose nearly 3 percent to Rs.699.8 per share after securing Rs.512 crore in solar EPC construction orders. Price Movement In Tuesday’s trading session, Sterling & Wilson Renewable Energy Limited's share price reached an intraday high of Rs.699.8 per share, up [...]
Alcohol stock with strong revenue growth guidance for FY25 to add to your watchlist
In the morning trading session of Tuesday, the shares of the third largest spirits company in India, in terms of annual sales volumes between FY14 and FY24, surged 1.5 percent to Rs. 354.95 on BSE. With a market capitalisation of Rs. 9,787 crores, the shares of Allied Blenders and Distillers Limited opened in the green [...]
Solar stock jumps 3% after receiving order from Coal India for solar power plant
The shares of solar energy solution providers gained up to 3 percent after the company bagged a significant work order from Coal India Limited worth Rs 110 Lacs. With a market capitalization of Rs 104.49 crore, the shares of Ahasolar Technologies Ltd were trading at Rs 339.00 per share, increasing around 1 percent as compared [...]
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Stocks to Buy: 6 Stocks to buy for an upside of 40%
The Indian Benchmark Indices closed in Green on Friday with the Sensex gaining around 218.14 points ending the week at 81,224.75 and the Nifty 50 index gaining around 113.55 points ending the week at 24,863.40. In the last five trading sessions, the Sensex declined by approximately 0.75 percent while the Nifty 50 index declined by [...]
₹2.23 to ₹1,829: NBFC stock turns ₹10,000 to ₹82 Lakhs in just 5 years
During the trading session of Friday, the shares of a registered NBFC with core business operations focused on investing and lending slumped nearly 5 percent to hit an intraday low at Rs. 1,758.1 on BSE. With a market capitalisation of Rs. 31,068 crores, the shares of Authum Investment & Infrastructure Limited opened at Rs. 1,849, [...]
Stocks to Buy: 6 Stocks to buy now for an upside of 50%
The Indian Benchmark Indices closed in red on Friday with the Sensex losing around 230.05 points ending the week at 81,381.36 and the Nifty 50 index losing around 34.20 points ending the week at 24,964.25. In the last five trading sessions, the Sensex declined by approximately 0.73 percent while the Nifty 50 index declined by [...]
₹430 to ₹14,136: Pharma stock turns ₹10,000 to ₹3.29 Lakhs in just 5 years
According to business standards, the Indian pharmaceutical industry is a global powerhouse, projected to reach $130 billion by 2030, growing at over 10% annually. Currently valued at $50 billion, India supplies 20% of the world's generic medicines and accounts for 60% of global vaccine production, cementing its role as the "pharmacy of the world. With [...]
Stocks that may get affected by Israel-Iran war
India is Israel’s 2nd trading partner in Asia and the 9th largest globally. The bilateral trade has been majorly dominated by diamonds and chemicals. However, recent years have seen an increase in trade in areas such as electronic machinery and high-tech products; medical equipment; communications systems, etc. The two nations celebrated 30 years of the [...]
5 Stocks that supply defence equipments to Israel to keep an eye on
The geopolitical tensions involving Israel, Iran, and Gaza are characterized by Iran's animosity toward Israel and its support for militant groups like Hamas and Hezbollah, which engage in hostilities against Israel. This led to airstrikes, military & political outrage, loss of life, and more leading to fear of global war among other nations. Listed below [...]
Latest Market News
OLX Autos I Autocar ‘Pre-Owned Car Awards 2022’ Winners Announced
Toyota, Maruti, Hyundai, and Honda emerge winners across categories in the first edition of the pre-owned car awards Gurgaon, Haryana, India (NewsVoir) OLX Autos in collaboration with Autocar India, the leading automotive publication in the country announced the winners of the ‘Pre-Owned Car Awards 2022’ at its virtual event held on January 27th, 2022. The [...]
GDP to grow 8-8.5 pc in FY’23; economy well placed to meet challenges: Survey
New Delhi, Jan 31 (PTI) India's economy is expected to grow by 8-8.5 per cent in the fiscal beginning April 1 and is well placed to meet the future challenges on the back of widespread vaccine coverage, supply-side reforms and easing of regulations, said the pre-Budget Economic Survey on Monday.The Economic Survey 2021-22, tabled by [...]
Farm production rose, agricultural exports touched record Rs 3 lakh cr in 2020-21 crop year: Prez
New Delhi, Jan 31 (PTI) President Ram Nath Kovind on Monday said the country's farm production and procurement increased during 2020-21 crop year despite the pandemic and agricultural exports reached a record level of Rs 3 lakh crore during the same period. In his address to the joint sitting of both Houses of Parliament at [...]
NEWSALERT
Crop diversification towards oilseeds, pulses and horticulture needs to be given priority: Economic Survey. PTI DP ANZ MKJ
NEWSALERT
Survey calls for improving productivity of small, marginal farmers through small holding farm technologies. PTI DP ANZ MKJ
NEWSALERT
Climate finance will remain critical to successful climate action for India to achieve its net zero carbon emission target by 2070: Survey. PTI DP ANZ MKJ
Kellton Tech to Modernize Digital Citizen Experiences For HMWSSB Through Artificial Intelligence and IoT-based Data Analytics
Kellton Tech will provide HMWSSB, the Government of Telangana, with IoT-based enterprise intelligence and analytics solutions to drive actionable insights in real-time and transform citizen service experiences as well as the Metro Customer Care as more efficient, agile, and future-ready. HYDERABAD, India, Jan. 31, 2022 /PRNewswire/ -- Kellton Tech (BSE: KELLTONTEC) (NSE: KELLTONTEC), a global [...]
NEWSALERT
India transformed from being among 'Fragile Five' nations to 4th largest forex reserve, giving policy room for manoeuvring: Survey. PTI DP ANZ MKJ
NEWSALERT
Govt finances to witness consolidation in 2021-22, after uptick in deficit and debt indicators during pandemic year FY21: Survey. PTI DP ANZ MKJ
NEWSALERT
Economic Survey sees GDP growth of 8-8.5% based on oil price projection of USD 70-75 per barrel range as against current price of USD 90. PTI DP ANZ MKJ
Guar gum futures gain on demand
New Delhi, Jan 31 (PTI) Guar gum prices on Monday gained Rs 35 to Rs 12,010 per five quintal in futures trade as speculators increased their holdings on spot demand.On the National Commodity and Derivatives Exchange, guar gum contracts for February delivery traded higher 0.29 per cent, or Rs 35 to Rs 12,010 per five [...]
NEWSALERT
Private sector investment to pick with financial system in good position to provide support to revival of economy: Economic Survey. PTI DP ANZ MKJ
NEWSALERT
Robust export growth and availability of fiscal space to ramp up capital spending to support growth next fiscal: Economic Survey. PTI DP ANZ MKJ
Guar Seed futures decline on low demand
New Delhi, Jan 31 (PTI) Guar seed prices on Monday went down by Rs 5 to Rs 6,370 per 10 quintal in futures trade.On the National Commodity and Derivatives Exchange, guar seed contracts for February delivery was trading at Rs 6,370, down by Rs 5, or 0.06 per cent per 10 quintal with an open [...]
NEWSALERT
Growth in FY23 to be supported by widespread vaccine coverage, gains from supply-side reforms and easing of regulations: Survey. PTI DP ANZ MKJ
NEWSALERT
Survey says India's economic response to devastation caused by pandemic has been supply-side reforms rather than demand management. PTI DP ANZ MKJ
NEWSALERT
Economy well placed to take on challenges in 2022-23: Economic Survey. PTI DP ANZ MKJ
NEWSALERT
Indian economy in good position to witness GDP growth of 8-8.5 pc in 2022-23: Economic Survey. PTI DP ANZ MKJ
NEWSALERT
Economic Survey pegs GDP growth in 2021-22 at 9.2 pc; economic activity has recovered to pre-pandemic level. PTI DP ANZ DP MKJ
India’s smartphone mkt logs $38bn revenue, 11% shipment growth in 2021: Counterpoint
New Delhi, Jan 31 (PTI) India’s smartphone shipments grew 11 per cent year-on-year to reach 169 million units with market revenue crossing USD 38 billion in 2021, according to Counterpoint Research. As per the latest research from Counterpoint, India's smartphone market revenue crossed USD 38 billion in 2021 with 27 per cent year-on-year (y-o-y) growth. [...]
Anicut Capital raises Rs 140 cr for second debt fund from SIDBI
New Delhi, Jan 31 (PTI) Anicut Capital on Monday said it has raised Rs 140 crore from the Small Industries Development Bank of India (SIDBI) for its second debt fund.The funds will be deployed through the second debt fund - Grand Anicut Fund-2 - which closed recently at Rs 875 crore, a statement said.The funds [...]
MEIL’s Drillmec to set up USD 200 million oil rig manufacturing hub in Telangana
Hyderabad, Jan 31 (PTI) Drillmec SpA, a subsidiary of the city-based Megha Engineering and Infrastructures Limited (MEIL) group, will be setting up its global manufacturing hub in Telangana with an investment outlay of USD 200 million, a top executive of the Italian company said on Monday. Simone Trevisani, CEO, Drillmec and Jayesh Ranjan, Principal Secretary [...]
FM tables Economic Survey 2021-22 in Lok Sabha
New Delhi, Jan 31 (PTI) Finance Minister Nirmala Sitharaman on Monday presented the Economic Survey that details the state of the economy ahead of the government's Budget for the fiscal year beginning April 1, 2022. It projects an 8-8.5 per cent growth rate for the Indian economy in 2022-23 fiscal year (April 2022 to March [...]
MUMBAI, JAN 31 (PTI)
OPENING RATES SILVER SPOT (IN RS PER KILO): 60898.00 STANDARD GOLD (99.5) : 47856.00 PURE GOLD (99.9) : 48048.00 CALCUTTA BULLION :- SILVER RDY.(BAR) : 61850.00 RS. PER KG.SILVER RDY.(PORTION) : 61950.00 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) [...]
Celcius inks pact with Shriram Transport Fin
Mumbai, Jan 31 (PTI) SaaS-based cold chain aggregator platform Celcius on Monday announced a financial tie-up with Shriram Transport Finance Company (STFC) to fund vehicles and working capital financing for the cold supply chain market.Under the collaboration, which marks STFC's entry into the cold supply chain segment, the two partners will provide light and heavy [...]
Application deadline extended for Aster Guardians Global Nursing Award worth US $250,000 to 15th Feb
• Till date more than 17300+ registrations have been received from nurses from 175 countries • The announcement comes as a response to increasing requests from nurses worldwide for more time to complete the documentation process, following the Covid-19 surge • Nurses from around the world can submit their nominations via www.asterguardians.com DUBAI, U.A.E, Jan. [...]
Capital Trust Limited Pledges to accelerate Digital Lending to Scale up Financial Inclusion in India
NEW DELHI, Jan. 31, 2022 /PRNewswire/ -- Celebrating 75 years of Independence of India, named the celebration as 'Azadi Ka Amrit Mahotsav', and on the occasion of India's 73rd Republic Day celebrations, Capital Trust Limited announces its pledge to accelerate digital lending by scaling up financial inclusion of the most underserved and unserved population of [...]
USFDA issues 3 minor observations to Granules India arm in pre-approval inspection
New Delhi, Jan 31 (PTI) Drugmaker Granules India Ltd on Monday said the US health regulator has issued "three minor observations" to its wholly-owned arm Granules Pharmaceuticals, Inc (GPI) in a pre-approval inspection (PAI).Granules Pharmaceuticals located in Chantilly, Virginia, US, had undergone a PAI by the US Food and Drug Administration (USFDA) from January 24-28, [...]
Money Market Operations
(Amount in ? crore, Rate in Per cent) VOLUME Weighted MONEY MARKET (ONE LEG) Average Rate Range A.Overnight Segment 4,064.28 3.23 0.75-5.55 I. Call Money 640.68 2.96 2.70-3.50 II. Triparty Repo 3,370.60 3.24 0.75-4.00 III. Market Repo 0.00 - IV. Repo in Corporate Bond 53.00 5.55 5.55-5.55 B. Term Segment I. Notice Money** 7,994.50 3.60 [...]
Jindal Global Business School Launches Global MBA (Business Analytics) With Wharton School Immersion Programme
Sonipat, 31 January, 2022: Jindal Global Business School (JGBS) at O.P. Jindal Global University (JGU) announced the launch of a new, fully residential One Year Global MBA (Business Analytics) degree programme for experienced business professionals. This degree programme has been designed based on an extensive discussion with top analytics recruiters and understanding their underlying need [...]
AGS Transact Technologies shares list on flat note
New Delhi, Jan 31 (PTI) Shares of payment solutions provider AGS Transact Technologies Ltd on Monday made a flat market debut, listing at Rs 176 on the BSE, against the issue price of Rs 175. The stock made its debut at Rs 176, registering a marginal gain of 0.57 per cent from the issue price [...]
History and Interesting facts about Union Budget that you should know
Finance Minister Nirmala Sitharaman will on February 1 present her fourth straight Union Budget when she presents financial statements and tax proposals for the fiscal year 2022-23 (April 2022 to March 2023). Here are some budget trivia: INDIA'S FIRST BUDGET The Budget was first introduced in India on April 7, 1860, when Scottish economist and [...]
Power sector workers to hold nationwide protest on Tuesday
All India Power Engineers Federation (AIPEF) has said power sector workers will hold a nationwide protest against privatisation policies on Tuesday. "On the call of National Coordination Committee of Electricity Employees & Engineers (NCCOEEE) Power Employees & Engineers across the country will hold protest demonstrations against privatisation policies of Central Government," an AIPEF statement said. [...]
ICICI Prudential Life Insurance launches new term insurance plan: ICICI Pru iProtect Return of Premium
• Return of 105% of premiums paid at age of 60 or 70 years or on policy maturity • One of the most innovative and customer-centric term plans with auto-adjusting life cover, basis changing life-stages, to suit customer's requirements • Option to take cover against 64 critical illnesses MUMBAI, India, Jan. 31, 2022 /PRNewswire/ -- [...]
Comfort and Savings: Get Luxurious Amore Mattresses and Save up to 66 percent on the Bajaj Finserv EMI Store
Buy an Amore Mattress on No Cost EMI while also availing up to 66% off from the Bajaj Finserv EMI Store! Pune, Maharashtra, India (NewsVoir) Making comfortable sleep affordable, the Bajaj Finserv EMI Store has announced special deals and cashback offers on the Amore mattresses range. The online EMI store offers a variety of deals [...]
Pocket-friendly Deals: Save up to 72 per cent on PowerMax Fitness Equipment on the Bajaj Finserv EMI Store
Avail up to 72% discount on PowerMax Fitness equipment along with exciting benefits like No Cost EMI on the Bajaj Finserv EMI store Pune, Maharashtra, India (NewsVoir) Making at-home gym set-up affordable for all, the Bajaj Finserv EMI Store has announced heavy discounts and cashback offers on the purchase of PowerMax Fitness equipment. India’s largest [...]
CDI to streamline GI tagging of J&K’s art and craft
Jammu, Jan 30 (PTI) To streamline the GI tagging of Jammu and Kashmir's art and craft through the Craft Development Institute, the administrative council (AC) headed by Lt Governor Manoj Sinha has approved transfer of administrative control of the institute to the industries and commerce department, an official spokesman said on Sunday. In another decision, [...]
PPFAS Mutual Fund stops inflow in flexicap fund
New Delhi, Jan 30 (PTI) PPFAS Mutual Fund on Sunday announced that it will stop accepting inflows into PPFAS Flexicap Fund with effect from February 2. The moves comes after the capital markets regulator Sebi directed mutual fund houses to stop taking fresh subscriptions in schemes investing in overseas stocks. The directive to stop subscription [...]
Govt extends tenure of IPO-bound LIC’s chairman for 1 year
New Delhi, Jan 30 (PTI) The government has extended the tenure of chairman of IPO-bound Life Insurance Corporation (LIC) by one more year with a view to facilitating smooth listing of the insurance behemoth, sources said. Besides, the government has also extended the tenure of one of the managing directors, Raj Kumar, for one year. [...]
Child suffering from mental disorder entitled to family pension: Union Minister Jitendra Singh
New Delhi, Jan 30 (PTI) Union Minister Jitendra Singh on Sunday said a deceased government employee's child, who is suffering from a mental disorder, is entitled to a family pension.He said this public reiteration was needed because the Department of Pension and Pensioners' Welfare has noticed that in some cases banks are not allowing family [...]
Mahindra Group donates 500 LPM Oxygen Plant to Govt hospital in Telangana
Hyderabad, Jan 30 (PTI): The Mahindra Group on Sunday announced the installation of a 500 LPM oxygen plant at the Government Area General Hospital in Zaheerabad of Telangana. The oxygen plant was inaugurated by Telangana Health Minister T Harish Rao in the presence of V S Ram, Vice-President, Mahindra Automotive, Zaheerabad and other government dignitaries, [...]
Western Coalfields supplies 18.9MT coal to Mahagenco: govt
New Delhi, Jan 30 (PTI) The government on Sunday said Coal India arm WCL has supplied 18.96 million tonnes of coal to Mahagenco against the prorated contracted quantity of 18.68 million tonnes up to Saturday this fiscal. The annual contracted quantity of coal to Mahagenco which is agreed by Western Coalfields Ltd (WCL) under the [...]
Saregama India plans to invest up to Rs 750cr in music biz
Kolkata, Jan 30 (PTI) Saregama India, a part of RP-Sanjiv Goenka Group, is planning to invest up to Rs 750 crore in its music business to achieve a 25-30 per cent revenue growth in the next few years through organic and inorganic routes, an official said. It is also foraying into a new business segment [...]
Employee engagement in tech sector hit the most by Covid, says report
New Delhi, Jan 30 (PTI) Employee engagement and retention has emerged as the worst-hit aspect of organisations in the technology sector amid the COVID-19 pandemic, according to a report. The other four aspects impacted the most by the pandemic were revenue, client engagement, new clients & projects, and employee productivity, the report by PeopleAsset, an [...]
JSW Steel Independent Director Malay Mukerjee passes away at 74
New Delhi, Jan 30 (PTI) Steel company JSW Steel on Sunday announced the passing away of Malay Mukerjee, who was an independent director on its board. Mukerjee was appointed to the board of JSW Steel on July 29, 2015. In a statement, JSW Steel said it announces the "sad demise of Malay Mukerjee, independent director, aged [...]
Pandemic, cash-flow issues main reasons behind mess at Srei Group: Hemant Kanoria
Kolkata, Jan 30 (PTI) Hemant Kanoria, the embattled businessman who pioneered infrastructure financing in the country way back in 1989, has said the pandemic and the resultant cash-flow issues coupled with his own earnestness to pay back the lenders by legitimately approaching the courts for debt restructuring are the reasons for the mess at the [...]
AGS Transact to list on Monday
Mumbai, Jan 30 (PTI) Leading payment solutions provider AGS Transact Technologies, which has completed a Rs 680-crore share sale over eight times subscription last week, is listing on Monday with debut trade taking place on the BSE. The IPO, which was carried out through an offer for sale, received bids for 22.35 crore shares against an [...]
MRPL Q3 Results: Net profit rises to Rs 969 crore
Mangaluru, Jan 30 (PTI) The Mangalore Refinery and Petrochemicals Limited (MRPL) posted a net profit of Rs 969 crore during the third quarter of 2021-22 against a loss of Rs 76 crore in the corresponding period in 2020-21. The gross revenue from operations stood at Rs 25,238 crore during Q3 of 2021-22 against Rs 14,136 [...]
IGRUA sets new flying record in 2021, to start engineering school shortly
Amethi (UP), Jan 30 (PTI) The Centre-run Indira Gandhi Rashtriya Uran Akademi (IGRUA) clocked more than 19,000 flying hours in 2021 – the highest for any commercial pilot-training institute in India -- despite the Covid-19 pandemic, according to officials. The Uttar Pradesh-based IGRUA, an autonomous body under the Union Ministry of Civil Aviation, in 2013 [...]
Exports of marine products jump 35% to USD 6.1 bn during Apr-Dec 2021
New Delhi, Jan 30 (PTI) Exports of marine products jumped 35 per cent to USD 6.1 billion during April-December 2021 as compared with USD 4.5 billion in the same period of the previous year, the commerce ministry said on Sunday. In December 2021, the exports grew 28 per cent to USD 720.51 million. It said [...]
Budget should focus on ESG issues, say experts
New Delhi, Jan 30 (PTI) With the government committing to become carbon neutral by 2070, it is imperative that the forthcoming Budget should focus on Environmental, Social and Governance (ESG) issues by providing tax and non-tax incentives needed to promote green economy, say experts. Indian businesses are undergoing significant changes amidst externalities such as climate [...]
Eyes on GDP forecast by Economic Survey despite recent misses
New Delhi, Jan 30 (PTI) The pre-budget Economic Survey, which is tabled in Parliament ahead of the Union Budget to present the state of the economy and suggest policy prescriptions, quite often misses on the GDP forecast, sometimes by a significant margin. This time, Finance Minister Nirmala Sitharaman will table the Economic Survey for 2021-22 [...]
FAIRA seeks Centre to bring down short-term capital gains tax in budget
Chennai, Jan 30 (PTI): The Federation of All India Real Estate Association (FAIRA) representing the real estate industry has sought the Centre to offer sops during the budget stating a boom in the sector would also increase tax collection. FAIRA National President A Hendry said the real estate sector accounts for eight per cent of [...]
India’s Q3 manufacturing outlook improves, cost of doing biz remains cause for concern: FICCI
New Delhi, Jan 30 (PTI) The outlook for India's manufacturing sector seems to have improved in the October-December 2021 quarter even as the cost of doing business remains a cause for concern and hiring prospects remain subdued, according to a FICCI survey. The findings of the latest quarterly survey on manufacturing unveiled on Sunday also [...]
Budget expectations: Clarity on crypto taxation, hike in 80C limit, duty rationalisation on EVs
As Finance Minister Nirmala Sitharaman presents her fourth Union Budget on February 1 all eyes would be on how the government balances out populist measures while walking the tightrope of fiscal consolidation. While Indian corporates are expecting some key announcements which will enable them to reset their growth agenda, individual taxpayers are expecting some more [...]
Govt mandates storage of ISD, satphone, conference calls, messages details for 2 yrs
New Delhi, Jan 30 (PTI) The government has mandated storage of international calls, satellite phone calls, conference calls and messages made over normal networks as well as on the internet for a period of at least two years, according to circulars issued by the telecom department. The move follows an amendment made in the unified [...]
MechaniK TV expects to see 10,000 enrolments for certification course in 12 months
Mumbai, Jan 30 (PTI) MechaniK TV, an independent skill-tech platform for automotive mechanics that commenced its online advanced BS-VI certification course on December 25, expects to see around 10,000 enrolments in the next 12 months, its co-founder Rajiv Radhakrishnan has said. The course, for which the start-up has tied up with the Automotive Skills Development [...]
Govt not against Ed-Tech companies but they can’t be allowed where even IIMs can’t go: AICTE chairman Anil Sahasrabudhe
New Delhi, Jan 30 (PTI) The government is not against Ed-Tech companies but they cannot be allowed to delve into areas that are not their domain like offering diploma and degree courses, according to the All India Council for Technical Education (AICTE) Chairman Anil Sahasrabudhe. The comments by the AICTE chairman come after the technical [...]
NCLT approves APSEZ’s composite scheme to acquire Sarguja Rail Corridor
New Delhi, Jan 30 (PTI) Adani Ports and Special Economic Zone (APSEZ) on Sunday said the company's composite scheme to acquire Sarguja Rail Corridor Pvt Ltd (SRCPL) has been approved by the National Company Law Tribunal (NCLT) and will be effective from the appointed date of April 1, 2021. APSEZ in a statement said the [...]
Looking at new markets to push apparel exports: AEPC chairman
New Delhi, Jan 29 (PTI) Apparel exporters' body AEPC on Sunday said it is looking at new markets such as Latin America, Australia and Israel to push the country's exports, which are expected to record healthy growth during the current fiscal and in 2022-23, even though rising raw material prices are impacting the industry. AEPC (Apparel [...]
Budget 2022: Healthcare industry seeks priority status, increase in fund allocation to 3% of GDP
The government should look at according priority status to the healthcare segment while increasing the public expenditure on the sector to at least 3 per cent of the GDP in the upcoming Union Budget. As per the leading healthcare providers in the country in the private sector, the government should also consider continuation of tax [...]
DHFL: NCLAT sets aside NCLT order that directed to consider Wadhwan’s 2nd offer
New Delhi, Jan 30 (PTI) The National Company Law Appellate Tribunal (NCLAT) has set aside an earlier order of the Mumbai bench of the NCLT, which had directed the administrator of the debt-ridden DHFL to put the second settlement proposal by erstwhile promoter Kapil Wadhwan before its lenders for consideration. The appellate tribunal observed that [...]
NCLT approves APSEZ’s composite scheme to acquire Sarguja Rail Corridor
New Delhi, Jan 30 (PTI) Adani Ports and Special Economic Zone (APSEZ) on Sunday said the company's composite scheme to acquire Sarguja Rail Corridor Pvt Ltd (SRCPL) has been approved by the National Company Law Tribunal (NCLT) and will be effective from the appointed date of April 1, 2021. APSEZ in a statement said the [...]
Embassy REIT to invest Rs 850 cr to develop 1.9 mn sq ft office space in Bengaluru
New Delhi, Jan 30 (PTI) Embassy Office Parks REIT will invest Rs 850 crore to develop nearly two million square feet office buildings in Bengaluru as the company remains bullish on demand for premium workspace, a senior company official said. Embassy Office Parks REIT, the country's first public listed real estate investment trust (REIT) sponsored [...]
PNB Housing Fin focuses on affordable housing segment; to operationalise 25 new branches by Mar
New Delhi, Jan 30 (PTI) PNB Housing Finance is focussing on its high-yielding affordable housing business 'Unnati' in tier-II and -III cities, and targets to operationalise 25 new branches by March this year. Besides, the housing financier targets to increase the Unnati business from nine per cent currently to about 12-14 per cent going forward. [...]
Incentives for green hydrogen likely in Union Budget to promote green energy
The government may provide for targeted fiscal incentives and allocation of funds for promotion of green hydrogen in the country in Union Budget 2022-23, which is slated to be unveiled in Parliament on Tuesday. The government launched National Hydrogen Mission in 2021. Earlier this month, Power and New & Renewable Energy Minister R K Singh [...]
Comm min proposes repeal of decades-old tea, coffee, spices, rubber Acts
New Delhi, Jan 30 (PTI) The commerce ministry has proposed repeal of decades-old laws pertaining to tea, coffee, spices and rubber - and introduce new legislations with a view to promoting the growth of these sectors and creating a conducive environment for businesses. The ministry has sought views of the stakeholders on the drafts of [...]
Weekly Wrapup: Marico, Britannia, IndusInd Bank, Vedanta, Kotak Bank, & Others Q3 Results!
The fourth week of January 2022 between 23–30th Jan, showed the quarterly results of many big Indian corporates like Marico, Kotak Mahindra Bank, Britannia, Vedanta, L&T, and more. Here is the weekly wrap-up of the Q3 corporate result announcements. Marico Q3 Results: Net profit rises 1.63%; Revenue jumps 13.4% FMCG firm Marico Ltd on Friday reported [...]
PDD Falcon expects online sales to contribute 50% to its overall turnover in 5 yrs
New Delhi, Jan 30 (PTI) Stainless steel home and kitchenware products manufacturer PDD Falcon expects sales from online channel to account for 50 per cent of its turnover in at least next five years with more and consumers taking the digital route for purchases, according to a top company official. The company, which sells a [...]
Sonowal reviews progress on green initiatives under maritime vision
New Delhi, Jan 29 (PTI) Union minister Sarbananda Sonowal on Saturday reviewed the progress on various green initiatives being implemented as per Maritime India Vision 2030 for the development of green ports and green shipping in India, an official statement said on Saturday. The minister held a meeting with the representatives of all major ports [...]
Union budget: ICAI seeks tax, accounting reforms
Kolkata, Jan 29 (PTI) The Institute of Chartered Accountants of India (ICAI) has sought about 14 tax and accounting reforms in the upcoming Union budget.The suggestions essentially aim at making laws simple, fair, transparent. less litigative and user friendly, ICAI president Nihar N Jambusaria said.“There are about 14 suggestions from our end submitted to the [...]
Piramal Capital and Housing Finance integrates over 3,000 employees of DHFL
New Delhi, Jan 29 (PTI) Piramal Capital & Housing Finance Limited (PCHFL) that acquired debt-ridden DHFL has integrated over 3,000 employees and plans to increase the headcount for business growth. Under 'Project Sangam', a programme focused on the cultural and business integration, senior professionals from DHFL will move to a new corporate premises in Mumbai [...]
Govt aims at industry integration with east, SE Asia: Official
Kolkata, Jan 29 (PTI) The Centre seeks to ensure that industries, especially those located near the Bay of Bengal, become a part of the regional value chains that are in operation in the east and south-east Asia, a Ministry of External Affairs official said on Saturday.Such an integration is the best way to leverage the [...]
Buddhist Leader’s Annual Peace Proposal Stresses Human Dignity and Nuclear Disarmament
TOKYO, Jan. 26, 2022 /Kyodo JBN-AsiaNet/-- Buddhist philosopher and peacebuilder Daisaku Ikeda, president of the Soka Gakkai International (SGI), issued his 40th annual peace proposal on January 26, 2022. Titled "Transforming Human History: The Light of Peace and Dignity," it offers concrete ideas for tackling the climate crisis and achieving inclusive education and nuclear disarmament. [...]
SBI puts on hold circular on recruitment of pregnant women after flak
New Delhi, Jan 29 (PTI) After facing criticism from various quarters, the country's largest lender State Bank of India (SBI) on Saturday decided to suspend its circular on recruitment of pregnant women. SBI recently reviewed its 'Fitness Standards for Recruitment in the Bank', including norms for Pregnant Women candidates. Under the new rules, a woman [...]
Trade unions defer nationwide strike to March 28-29
New Delhi, Jan 29 (PTI) A joint forum of central trade unions on Saturday said it has deferred its scheduled February 23-24 nationwide strike against government policies by a month in view of the third wave of the pandemic and state assembly polls. On Friday, an online meeting of the joint platform of Central Trade [...]
EPFO onboards Air India, takes into fold 7,453 airline employees for social security benefits
New Delhi, Jan 29 (PTI) Retirement fund body EPFO has onboarded Air India Ltd for social security benefits like PF, pension and insurance and has received contributions for about 7,453 employees for the month of December from the airline, a labour ministry statement said on Saturday. The Tata Group took over the debt-ridden airline from [...]
Office rent stable in Pune, NCR, drops up to 6pc in 4 major cities in Dec qtr
New Delhi, Jan 29 (PTI) Average office rental fell by up to 6 per cent year-on-year during the December quarter in Mumbai, Chennai, Hyderabad and Kolkata on lower demand for workspace amid the COVID pandemic, while it remained stable in Pune and Delhi-NCR, according to Vestian. In its quarterly newsletter - The Connect Q4 2021, [...]
Cigarette maker Godfrey Phillips India Q3 Results: Net profit down 5%
New Delhi, Jan 29 (PTI) Cigarette maker Godfrey Phillips India Ltd on Saturday reported a 5 per cent decline in its consolidated net profit to Rs 116.87 crore for the third quarter ended in December 2021. The company had posted a net profit of Rs 123.10 crore during the October-December quarter of the previous fiscal, [...]
MADC allots land for star hotel at Nagpur cargo hub airport
Nagpur, Jan 29 (PTI) The Maharashtra Airport Development Company (MADC) has approved the allotment of 6.79 acres land for a star hotel in 'Multi Model International and Cargo Hub Airport at Nagpur (MIHAN). A release by MADC stated that this would be will be the first star hotel in MIHAN. The release said that advertisement [...]
School, inter-city buses need to install fire alarm, protection system
New Delhi, Jan 29 (PTI) The Road Transport and Highways Ministry has issued a notification to introduce fire alarm and suppression systems in inter-city passenger buses and school buses. Fire protection systems would be installed in the passenger compartment of buses designed and constructed for long distance transport and in school buses, an official statement [...]
Fintech industry hopes for incentives in Budget to push financial inclusion
New Delhi, Jan 29 (PTI) Stepping up demand for tax concessions in the forthcoming Budget, the fintech industry is stressing that the fiscal and non-fiscal incentives are needed to promote financial inclusion and move towards a less-cash economy. The fintech industry and experts have urged Finance Minister Nirmala Sitharaman to lower the TDS rates, saying [...]
Remote working new normal; 82% employees prefer working from home: Study
Mumbai, Jan 29 (PTI) With the COVID-19 pandemic bringing unprecedented changes in work life, a study has revealed that 82 per cent respondents admitted that they prefer working from home to going back to the office. The remote work trend was initially forced on employees due to the pandemic, however, after two years remote working [...]
The Eponymous Web-series ‘Asian Paints Where The Heart Is’ is back with Beautiful Celebrity Homes that tell Unique Stories in Season 5
Season 5 puts special focus on homes with a personal touch and how each celebrity unwinds and re-connects in their personal haven away from the public eye Mumbai, Maharashtra, India (NewsVoir) The heart lies at the center of one’s home; this feeling has been more emphatic over the last two years where most of us [...]
SBI suspends circular on recruitment of pregnant women
New Delhi, Jan 29 (PTI) After facing criticism from various quarters, the country's largest lender State Bank of India (SBI) on Saturday decided to suspend its circular on recruitment of pregnant women. SBI recently reviewed its 'Fitness Standards for Recruitment in the Bank', including norms for Pregnant Women candidates. Under the new rules, a woman [...]
IndusInd Bank Q3 Results: Net Profit jumps 50% at Rs 1,241 Cr
IndusInd Bank on Saturday reported a 50 per cent jump in its consolidated net profit at Rs 1,241.55 crore in the quarter ended December 2021. The bank had posted a net profit of Rs 830.41 crore in the same period a year ago. Total income of the bank during the October-December period of 2021-22 rose [...]
NEWSALERT
SBI decides to keep circular on recruitment regarding pregnant women in abeyance: statement. PTI DP MR MR
India, ASEAN approve digital work plan to combat use of stolen mobile handsets
New Delhi, Jan 29 (PTI) India and ASEAN nations have jointly approved a work plan under which they will develop a system to combat use of stolen and counterfeit mobile handsets, among other things, an official statement said on Saturday. The work plan was approved at the 2nd ASEAN Digital Ministers' (ADGMIN) Meeting with India, [...]
New Offer: Avail a Cashback of up to 29 percent on Livpure Mattress on the Bajaj Finserv EMI Store
Buy Livpure mattresses from the Bajaj Finserv EMI Store and avail of benefits like cashback, No Cost EMI offers, and free home delivery Pune, Maharashtra, India (NewsVoir) The Bajaj Finserv EMI Store is offering striking discounts and hefty cashback offers on a wide range of Livpure mattresses. The EMI Store has announced up to 29% [...]
TVS Credit and IIM Trichy Sign a MoU to Boost Innovation and Create Solutions for Financial Inclusion
New Delhi, Delhi, India (NewsVoir) India's leading financial services provider TVS Credit Services Limited and the Indian Institute of Management Trichy (IIMT) signed a Memorandum of Understanding (MoU) to boost innovation, R&D, and collaboration for designing new solutions for promoting financial inclusion in the country. Being one of the fast-growing NBFCs in the country, TVS [...]
Karnataka Bank posts net profit of Rs 146.42 cr
Mangaluru, Jan 29 (PTI) The private sector Karnataka bank has posted a net profit of Rs 146.42 crore for the third quarter of current financial year with a year-on-year growth rate of 8.16 percent as against Rs 135.37 crore net profit earned during the corresponding quarter of the previous year. The financial results for the [...]
Suzlon Energy posts Net profit of Rs 37 cr in Dec Quarter
Suzlon Energy has posted a consolidated net profit of Rs 37.73 crore in the December 2021 quarter mainly on account of higher revenues. The company had reported a consolidated net loss of Rs 118.06 crore in the same quarter of the previous fiscal, according to a BSE filing released on Friday night. Its total income [...]
8th International Young Chef Olympiad themed on United Nations UN Sustainable Development Goals all set for Virtual Culinary Battle
NEW DELHI, Jan. 28, 2022 /PRNewswire/ -- After the huge success of YCO 2021 on the virtual platform, YCO 2022 will once again capture the online platform with another exhilarating edition of the World's Biggest Virtual Culinary Battle, the 8th International IIHM Young Chef Olympiad. The competition will commence with a grand virtual opening ceremony [...]
World’s best in AVGC education join hands with Pearl Academy to launch EDGE
- Announces up to 100% scholarships through national talent hunt - NEW DELHI, Jan. 29, 2022 /PRNewswire/ -- EDGE by Pearl Academy has partnered with one of the world's leading animation schools, TRAZOS based in Spain, to launch international certification courses in Animation, Game Design and Development, Visual Effects and Virtual Production at its state-of-the-art [...]
Max Financial Services 9MFY22 Consolidated Revenue^ Rises 21 percent to Rs. 14,160 Cr.
New Delhi, Delhi, India (NewsVoir) Max Life Results Highlights (9MFY22) • Total Assets Under Management (AUM): Rs. 102,471 Cr., Up 21% • Gross Written Premium: Rs. 14,415 Cr., Up 21% • Embedded Value at Rs. 13,412 Cr.; Operating RoEV at 19.2%** • Value of New Business at Rs. 942 Cr., Up 20% Max Financial Services [...]
Odisha’s Anadrone Systems set to manufacture advanced defence equipment for Army, Air Force
Bhubaneswar, Jan 29 (PTI) Odisha-based Anadrone Systems has bagged the contract to supply advanced defence equipment to the Indian Army and the Air Force, officials said.The company will supply 125 Manoeuvrable Expendable Aerial Targets (MEAT) and associated equipment worth Rs 96 crore, under the Make in India-II category, meant for research and development projects, they [...]
Happiest Minds Technologies Q3 Net profit jumps 16.1% to Rs 48.92 cr
IT firm Happiest Minds Technologies Ltd on Friday reported a 16.1 per cent jump in consolidated net profit to Rs 48.92 crore for the December 2021 quarter. The company had posted a net profit of Rs 42.15 crore in the year-ago period. Its revenue during October-December 2021 grew 47.2 per cent to Rs 283.94 crore [...]
Assets under management for ESG funds up 2.5 times in FY21: Nasscom president
New Delhi, Jan 28 (PTI) Assets under management for environmental, social and governance (ESG) funds increased 2.5 times to USD 650 million in India in financial year 2021 on an annual basis, a top official of IT industry body Nasscom said on Friday. Nasscom President Debjani Ghosh, during the launch of 'Enterprise Innovation Challenge', said [...]
Karnataka Bank Q3 Results: Net profit rises 8% to Rs 146 cr
Private sector Karnataka Bank on Friday reported an 8 per cent rise in net profit at Rs 146.42 crore for the quarter ended December 2021 on the back of a fall in provisions for bad loans and contingencies. The bank had posted a net profit of Rs 135.37 crore in the same quarter a year [...]
Scube Capital launches debt fund for Federal Bank’s NRI customers
Mumbai, Jan 28 (PTI) Singapore-based fund manager Scube Capital has launched an exclusive forex debt fund for the non-resident customers of private sector lender Federal Bank. Only NRI customers of the Kochi-based bank can invest in the US dollar fixed maturity bond fund, Hemant Mishr, co-founder and chief executive of Scube Capital, told PTI on [...]
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