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NBFC stock to buy now for an upside of 30%; Are you holding it?
According to the KPMG report, the Non-Banking Financial Companies (NBFC) sector in India has emerged as a vital component of the financial ecosystem, contributing over 25% to the total credit portfolio as of 2024. With approximately 10,000 registered NBFCs, this industry plays a crucial role in enhancing financial inclusion and providing diverse credit solutions across [...]
LIC Stock: Will LIC Mutual Fund reach its AUM of ₹ 1 Trillion by FY26?
LIC Mutual Fund (LIC MF) has set an ambitious target to reach Rs.1 trillion in assets under management (AUM) by the end of FY2026. Currently, the fund house has approximately Rs.35,000 crore in AUM and aims to grow significantly over the next few years through various strategic initiatives. With a market capitalization of Rs.6.5 lakh [...]
Infra stock jumps 5% after it receives dredger from Netherlands to expand its production
Shares of this infrastructure stock engaged in providing maritime-related services surged nearly 5 percent to Rs.352.85 per share on receiving delivery of 2nd dredger from the Netherlands to support its expansion plans. Share Price Movement In Monday's trading session, shares of JSW Infrastructure Limited surged 5 percent to an intra-day high of Rs.352.85 per share, [...]
Stock hits 5% lower circuit after ONGC impose ban on the company for 2 years
The share price of this small cap Oil & Gas industry service provider hits a 5% lower limit after ONGC’s 2 year tendering ban. Share price variations: With a market capitalization of Rs. 1,541.62 crores, the shares of Asian Energy Services Ltd hit its lower price band of 5% in NSE on Monday at Rs. [...]
Bulk Deal: 6 Stocks in which Vanguard Group bought stake worth ₹ 600 Cr
The Vanguard Group, Inc., commonly referred to as Vanguard, is a prominent American registered investment advisor founded in 1975. Headquartered in Malvern, Pennsylvania, Vanguard has $9.3 trillion in assets under management (AUM) as of March 2024, ranking just behind BlackRock, which has $10.5 trillion in AUM. Vanguard is the largest issuer of mutual funds globally [...]
Stock jumps 19% after receiving order worth ₹ 150 Cr from AP Govt for irrigation
Microcap stock engaged in Manufacturing Micro Irrigation Systems, Sprinkler Pipe and many others and merchant trading of Polymers & Other Products jumped upto 19 percent in the day’s trade upon receiving a new work order worth Rs. 150 Crores from Andhra Pradesh Micro Irrigation Project. Price Action With a market capitalization of Rs. 252 Crores, [...]
Navratna stock jumps after receiving work order worth ₹ 1,261 Cr to build AIIMS in Bihar
Navratna Central Public Sector Enterprise which is one of the largest realty CPSEs in India with operations in project management consultancy and development in focus upon receiving a new work order worth Rs. 1,261 Crores to build AIIMS in Bihar. Price Action With a market capitalization of Rs. 31,950 Crores, the shares of NBCC (India) [...]
Defence stock jumps after receiving order worth ₹ 15.4 Cr for combustors from DRDL
The shares of this smallcap company jumped around 2 percent in Monday’s trading session after receiving an order worth Rs. 15.4 crores for the supply of full-scale combustors for the development of next-generation engines for defence programs. Price Movement: With a market capitalization of Rs. 5,403 crores, the shares of MTAR Technologies Ltd started Monday’s [...]
Green energy stock jumps 6% after receiving orders worth ₹ 19.99 Cr for solar water pump
The shares of this micro-cap solar energy company surged 6.72% after it received work order worth Rs. 19.99 crores from Jilla Parishad Nandurbar, Maharashtra. These orders encompass the design and maintenance of solar water pumps. Share price variations: With a market capitalization of Rs. 730.84 crores, the shares of Sahaj Solar Ltd opened the trading [...]
Pharma stock jumps 4% after company announces ₹ 10,000 Cr fundraise
Shares of this pharmaceutical stock reached a 52-week high of Rs.2,649 per share following the announcement of plans to raise Rs.10,000 crore through the issuance of Non-Convertible Debentures and Commercial Papers. Share Price Movement In Monday's trading session, shares of Mankind Pharma Limited reached a 52-week high of Rs.2,649 per share, marking a 4 percent [...]
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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
Second-hand smartphone market in India to reach USD 4.6 bn in 2025: ICEA-IDC report
New Delhi, Jan 28 (PTI) The second-hand smartphone market in the country is expected to double in three years to USD 4.6 billion by 2025, according to a joint report by mobile devices industry body ICEA and research firm IDC. Consumers traded 25 million smartphones in the second-hand market generating a revenue of over USD [...]
IIJS Signature 2022 to be held during Feb 18-21
Mumbai, Jan 28 (PTI) The Gem and Jewellery Export Promotion Council (GJEPC) on Friday said the IIJS Signature 2022 has been rescheduled to be held during February 18-21 at the Bombay Exhibition Centre Goregaon, NESCO. The show was initially scheduled for the first week of January 2022 but the Council decided to postpone it due [...]
GSFC Q3 net profit jumps to Rs 245.53 cr
New Delhi, Jan 28 (PTI) Gujarat State Fertilisers and Chemicals Ltd (GSFC) on Friday reported a more than two-fold jump in its consolidated net profit at Rs 245.53 crore for the quarter ended December. Its net profit stood at Rs 97.25 crore in the year-ago period. Total income rose to Rs 2,697.58 crore in the [...]
5Gi will become integral to 5G standards for India and the world: TSDSI chairman
New Delhi, Jan 28 (PTI) A 5G technology standard developed in India has become part of global standards which will be adopted by companies locally as well as across the world, a senior official of Indian telecom standards body TSDSI said on Friday. 5Gi is the first ever telecom technology standard from India that will [...]
Good production, better availability will help remove ban on pulses futures trading
Mumbai, Jan 28 (PTI) The India Pulses and Grains Association (IPGA) on Friday said that if there is a good output of pulses and the availability is maintained then the ban will be removed on futures trading. "The future market will be rectified only when proper availability of such pulses as per requirement is maintained [...]
Suzlon Energy posts net profit of Rs 37 cr in Dec quarter
New Delhi, Jan 28 (PTI) Suzlon Energy on Friday posted a consolidated net profit of Rs 37.73 crore in the December 2021 quarter. The company had reported a consolidated net loss of Rs 118.06 crore in the quarter ended on December 31, 2020, according to a BSE. Its total income rose to Rs 1,615.06 crore [...]
RBI imposes restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow; withdrawals capped at Rs 1 lakh
Mumbai, Jan 28 (PTI) The Reserve Bank on Friday said it has imposed several restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow, including a cap of Rs 1 lakh on withdrawals. The restrictions came into force from closure of business hours on January 28, 2022 (Friday). In a statement, RBI said the Lucknow-based co-operative bank [...]
India, UK FTA: First round of talks concluded; next round in March
New Delhi, Jan 28 (PTI) Officials of India and the UK on Friday concluded the first round of negotiations for a proposed free-trade agreement (FTA) and held discussions on a host of issues including goods, services, investment, customs and government procurement, according to a joint outcome statement. The second round of negotiations is due to [...]
SBI tweaks recruitment rules for pregnant women candidates
New Delhi/Mumbai, Jan 28 (PTI) The country's largest lender State Bank of India (SBI) has put in place new rules wherein a woman candidate with more than three months pregnancy will be considered "temporarily unfit" and can join the bank within four months after delivery. The move has elicited criticism from some quarters, including from [...]
India’s exports to China jump 34% to USD 22.9 bn in 2021
New Delhi, Jan 28 (PTI) India's exports to China have increased about 34 per cent to USD 22.9 billion in 2021 from USD 17.1 billion in 2019, according to data from the commerce ministry. Imports, on the other hand, rose 28 per cent to USD 87.5 billion in 2021 as against USD 68.4 billion in [...]
Oppo India to set up power, performance lab by Mar; aims 100% patents growth
New Delhi, Jan 28 (PTI) Smartphones maker Oppo India plans to set up a power and performance lab in India to focus on improvement in battery life in the upcoming devices, especially when 5G services are rolled out, a senior company official said on Friday. Tasleem Arif, head (research and development) and vice-president of Oppo [...]
Oberoi Realty Q3 Results: Consolidated net profit rises 63%
Mumbai-based Oberoi Realty Ltd on Friday reported a 63 per cent increase in its consolidated net profit at Rs 467.53 crore for the quarter ended December. Its net profit stood at Rs 286.65 crore in the year-ago period. Total income rose to Rs 846.19 crore during October-December period of this fiscal year from Rs 837.57 [...]
Equitas SFB reports flat growth in net profit at Rs 108 cr in Dec qtr
New Delhi, Jan 28 (PTI) Equitas Small Finance Bank (SFB) on Friday reported flat growth in its net profit at Rs 108 crore for the quarter ended December 2021, with marginal rise in total income and interest income. The South-based SFB had posted a net profit of Rs 111 crore in the year-ago quarter. Total [...]
Business briefs
*Nothing appoints ex-Dyson executive Adam Bates as Design Director New Delhi, Jan 28 (PTI) Consumer technology brand Nothing on Friday said it has appointed former Dyson executive Adam Bates as the Design Director.Bates' focus will be on launching Nothing's first design hub in London, a statement said.Bates spent over 14 years at Dyson as a [...]
Aurangabad plans to purchase 250 EV four-wheelers by March-end
Aurangabad, Jan 28 (PTI) The Marathwada Auto Cluster has launched the Aurangabad Mission Green Mobility (EV) with the help of people's participation. Through this initiative, Aurangabad is set to purchase 250 electric four-wheelers by the end of March 2022. So far, the documentation of around 150 four-wheelers is completed, Marathwada Auto Cluster Chairman Munish Sharma [...]
SBI circular on proposed employment guidelines for pregnant women ‘arbitrary, prejudiced’: CPI MP
New Delhi, Jan 28 (PTI) CPI MP Binoy Viswam on Friday termed "arbitrary and prejudiced" an SBI circular on proposed employment guidelines which reportedly stated that a woman candidate who is more than three months pregnant will be considered "temporarily unfit" and she may be allowed to join within four months of the child's delivery. [...]
Market turmoil not to impact IPO valuation : Vedant Fashions
Kolkata, Jan 28 (PTI) The ongoing correction in capital market has not dented valuation of Kolkata-based ethnic wear major Vedant Fashions' initial public offer that aims to raise Rs 3,149 crore, a company official said on Friday. The company, whose flagship brand is the male ethic 'Manyavar' label, has fixed its issue price band at [...]
Tech Mahindra partners Mahindra Racing
New Delhi, Jan 28 (PTI) IT firm Tech Mahindra on Friday said it has strengthened its partnership with Mahindra Racing to provide EV engineering capabilities and drive digital transformation to enhance performance management.As part of the partnership, Tech Mahindra will leverage a dynamic and unique eRace Track Analytics platform with live analytics, wind tunnel simulations, [...]
RBI ‘behind the curve’ criticism: Deputy Governor Patra says approach has served us well
Mumbai, Jan 28 (PTI) Addressing criticism of the RBI being "behind the curve" by continuing with the accommodative monetary policy stance longer than other countries, Deputy Governor Michael Patra on Friday said that so far, "the approach has served us well". India is placed "much better" to deal with future waves of the pandemic as [...]
Shriram City Union Finance Q3 Results: Profit up 6% at Rs 322 cr
New Delhi, Jan 28 (PTI) Shriram City Union Finance on Friday reported 6 per cent rise in consolidated net profit at Rs 322 crore for the quarter ended December 2021, recording the highest ever lending. The Chennai-based non-banking finance company (NBFC) had posted a net profit of Rs 304 crore in the year-ago quarter. Income [...]
Blue Dart Express’ Q3 Results: Profit after tax jumps 29.5%
Mumbai, Jan 28 (PTI) Logistics major Blue Dart Express on Friday reported a 29.5 per cent jump in consolidated profit after tax (PAT) to Rs 123.40 crore for the December 2021 quarter. The company had posted a consolidated PAT of Rs 95.30 crore in the corresponding quarter last year, it said in a statement. Its [...]
SPMCIL sets up new bank note printing lines at Nashik, Dewas press
New Delhi, Jan 28 (PTI) Security Printing and Minting Corporation of India Limited (SPMCIL), under its modernisation initiatives, has set up new bank note printing lines each at Currency Note Press, Nashik and Bank Note Press, Dewas, an official statement said. The new bank note printing lines at CNP Nashik and Bank Note Press, Dewas [...]
‘Deepening Roots’ with ‘Trust and Friendship’: EAM Jaishankar and FM Lapid
Jerusalem, Jan 28 (PTI) Emphasising that "friendship and trust" are not only positive traits but also "real assets", the foreign ministers of India and Israel in an op-ed joint for an Israeli daily on Friday have said the two countries have worked together to "deepen their roots" for the last three decades, delving together to [...]
AU Small Finance Bank’s Q3 Results: Net profit soars 68%
Mumbai, Jan 28 (PTI) The Jaipur-based AU Small Finance Bank on Friday said strong loan sales and better asset quality have helped it post a strong set of financial numbers with a 68 per cent growth in net profit for three months to December 2021. Fund-based disbursements increased 33 per cent in the reporting quarter [...]
India needs multi-pronged approach to connect 1.3 bn people: Airtel on Jio-Google ties
New Delhi, Jan 28 (PTI) India needs a multi-pronged approach to connect its 1.3 billion people and there will be no conflict of interest among vendor partners post Google's investment in Bharti Airtel, a senior official of the domestic telecom major said on Friday. Bharti Airtel is the second Indian telecom firm after Jio in [...]
Jet Airways appoints Priyapal Singh as accountable manager
Mumbai, Jan 28 (PTI) Grounded carrier Jet Airways has appointed Priyapal Singh as its 'accountable manager', replacing Sudhir Gaur who resigned from the company late last year, an airline source said on Friday. A seasoned pilot, Singh took over the charge of the position in January, according to the source. The source also said that [...]
Satin Creditcare raises Rs 225 cr via preferential allotment of shares
Mumbai, Jan 28 (PTI) Microfinance institution Satin Creditcare Network Ltd (SCNL) on Friday said it has raised Rs 225 crore through preferential allotment of shares. The micro lender has allotted a total of 30,76,916 shares (i.e. 7,69,229 shares each) to a group of investors namely Aarti Agrifeeds LLP, Adesh Agricare LLP, Adesh Agrifarm LLP [...]
Govt appoints V Anantha Nageswaran as CEA
New Delhi, Jan 28 (PTI) Days ahead of the Economic Survey, the government on Friday appointed V Anantha Nageswaran as the Chief Economic Advisor (CEA). Nageswaran, an academic and former executive with Credit Suisse Group AG and Julius Baer Group, succeeds K V Subramanian, who demitted office of CEA in December 2021 after the completion [...]
Blackstone India consolidates logistics, warehousing assets under Horizontal Industrial Parks
New Delhi, Jan 28 (PTI) Global investment firm Blackstone has consolidated its 16 logistics and warehousing assets across India, having an enterprise value of USD 900 million, under Horizon Industrial Parks. Blackstone said in a statement on Friday it has appointed Rahul Pandit as chief executive officer of Horizon Industrial Parks. The company has so [...]
Indian-origin experts urge UK to back patent waiver for vaccine parity
London, Jan 28 (PTI) Several Indian-origin scientists are among hundreds of worldwide experts to urge the UK to back a temporary waiver of intellectual property rules for COVID-19 vaccines, tests, and treatments at the World Trade Organisation (WTO) to achieve greater vaccine parity worldwide.India and South Africa had introduced a proposal at the WTO for [...]
Agrochemicals firm Dharmaj Crop Guard files IPO papers
New Delhi, Jan 28 (PTI) Agrochemicals company Dharmaj Crop Guard has filed preliminary papers with capital markets regulator Sebi to raise up to Rs 300 crore through an initial share-sale. The initial public offering (IPO) consists of fresh issue of equity shares worth up to Rs 216 crore and an offer-for-sale (OFS) [...]
Adani Wilmar IPO subscribed 1.13 times on Day 2 of offer
New Delhi, Jan 28 (PTI) The initial public offer of edible oil major Adani Wilmar Limited received 1.13 times subscription on the second day of offering on Friday.The IPO received bids for 13,85,77,270 shares against 12,25,46,150 shares on offer, according to an update on BSE.The category for Retail Individual Investors (RIIs) was subscribed 1.85 times, [...]
Economy needs more hand-holding, fiscal correction can wait: Report
Mumbai, Jan 28 (PTI) Warning that any sudden and sharp fiscal consolidation steps can throttle the nascent and uneven recovery of the Indian economy, a Wall Street brokerage has said the Budget should instead focus on boosting overall demand, from rural consumption in particular, and invest more in infrastructure. The successive waves of the pandemic [...]
Govt notifies Phase II of capital goods scheme
New Delhi, Jan 28 (PTI) The government has notified the second phase of the Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector for providing assistance for common technology development and services infrastructure, with a financial outlay of Rs 1,207 crore. The outlay includes Budgetary support of Rs 975 crore and industry contribution [...]
Meta partners FICCI to support 5 lakh women-led SMBs in India
New Delhi, Jan 28 (PTI) Social media giant Meta on Friday said it has, under its #SheMeansBusiness programme, partnered with industry body FICCI to support five lakh women-led small businesses across India. The announcement was made during Meta's inaugural National Women Entrepreneurship Summit to encourage industry dialogue and steps to support the micro, small and [...]
Bharti Airtel shares gain over 1 pc
New Delhi, Jan 28 (PTI) Shares of Bharti Airtel on Friday gained over 1 per cent after the telecom major's announcement that Google will invest as much as USD 1 billion in the company in picking up a 1.28 per cent stake and scaling up offerings. The stock gained 1.23 per cent to settle at [...]
Budget should aim long-term holistic growth for auto industry: Mercedes-Benz India
New Delhi, Jan 28 (PTI) The Union Budget 2022 should aim at long-term holistic growth for the auto industry prioritising job creation, infrastructure development, introduction of latest technologies and increased decarbonisation efforts, luxury carmaker Mercedes-Benz India said on Friday. The company retailed 11,242 units in 2021, a growth of 42.5 per cent over 7,893 units [...]
BULLION-CLOSE
Bengaluru, Jan 28 (PTI) Closing bullion rates on Friday Standard gold (99.5 purity) Rs 49,550 per 10 gram Ornament gold Rs 4,620 per gram Silverspot (.999 fineness) Rs 63,200 per kg. PTI DVR BN BN
RBI asks people to follow safe digital banking practices amid rising cyber frauds
Mumbai, Jan 28 (PTI) Worried over rising incidence of cyber frauds, the Reserve Bank of India (RBI) on Friday issued a public notice asking people to follow safe digital banking practices to prevent any possible financial loss.Observing that unscrupulous elements are defrauding people by using innovative modus operandi, including social media techniques and mobile phone [...]
Low impairment charges push Dr Reddy’s net profit to Rs 706.5 crore in Q3
Hyderabad, Jan 28 (PTI) Dr Reddy’s Laboratories Limited on Friday reported a 3,468 percent jump in net profit to Rs 706.50 crore in the quarter ended December from a year ago on the back of a steep fall in impairment charges. A senior official of the company said the profit after tax during the same [...]
Crompton Greaves Consumer Electricals Q3 Results: Net profit falls 7.8%
New Delhi, Jan 28 (PTI) Crompton Greaves Consumer Electricals Ltd (CGCEL) on Friday reported a 7.84 per cent decline in its consolidated net profit to Rs 148.26 crore for the third quarter ended December 2021, on account of inflationary pressures on input materials. The company had posted a net profit of Rs 151.09 crore in [...]
LIC Housing Finance shares jump over 11 pc post earnings
New Delhi, Jan 28 (PTI) Shares of LIC Housing Finance (LICHFL) on Friday zoomed over 11 per cent after the firm reported a 6 per cent increase in profit after tax for the quarter ended December 2021. The stock jumped 14.85 per cent to Rs 396.65 during the day on BSE. It settled at Rs [...]
Real estate sector should be accorded top priority status in budget, say developers
Kolkata, Jan 28 (PTI) The real estate sector should be accorded top priority status in the upcoming budget to boost employment and growth of the economy, developers said here on Friday. The construction industry has proven itself a "resilient sector against the pandemic", and is now riding on a positive growth trajectory, they claimed. The [...]
Adani Total Gas wins 14 city gas licenses, IOC 8
New Delhi, Jan 28 (PTI) A joint venture of billionaire Gautam Adani-run group's gas arm and Total of France on Friday walked away with the most 14 licenses to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round, according to oil regulator PNGRB. Adani Total Gas Ltd [...]
United Breweries Q3 Results: Consolidated net profit down 28%
New Delhi, Jan 28 (PTI) United Breweries Ltd, majorly owned by Dutch multinational brewing company Heineken NV, on Friday reported 28.4% decline in consolidated net profit at Rs 91.02 crore for December quarter 2021-22 on account of inflationary pressures. The company had posted a net profit of Rs 127.19 crore in the year-ago period, United [...]
G S K Velu reappointed as FICCI TN State Council chairman, Bhupesh Nagarajan becomes co-chairman
Chennai, Jan 28 (PTI) Healthcare entrepreneur and chairman of Trivitron Group of Companies G S K Velu was reappointed as the chairman of Tamil Nadu State Council, FICCI here on Friday. Indira Projects Group of Companies Chairman and Director Bhupesh Nagarajan was appointed as co-chairman, a press release from the Federation of Indian Chambers of [...]
Blackstone India combines logistics portfolios under Horizon Industrial Parks
Mumbai, Jan 28 (PTI) Global private equity major Blackstone, which has USD 20 billion worth realty assets under management in India, has launched a logistics platform Horizon Industrial Parks. Horizon Industrial Parks is a portfolio of logistics parks owned and managed by Blackstone Real Estate Fund and will support its rapidly expanding logistics footprint in [...]
PTC India board asks risk management committee to look into corporate governance issues at PFS
New Delhi, Jan 28 (PTI) Power solutions provider PTC India on Friday said its board has directed its risk management committee to look into corporate governance issues at PTC India Financial Services (PFS), which was rocked by resignations of three independent directors earlier this month. The three independent directors -- Kamlesh Shivji Vikamsey, Santosh B [...]
Govt appoints V Anantha Nageswaran as Chief Economic Advisor
New Delhi, Jan 28 (PTI) The government on Friday appointed economist V Anantha Nageswaran as the Chief Economic Advisor (CEA). Nageswaran, an academic and former executive with Credit Suisse Group AG and Julius Baer Group, succeeds K V Subramanian, who demitted office of CEA in December 2021 after the completion of his three-year term. An official [...]
DICV sets up new dealerships in Maharashtra in association with Autobahn Trucking
Mumbai, Jan 28 (PTI) Commercial vehicles maker DICV on Friday announced the expansion of its footprint in the western region with the setting up of three new dealerships – one each in Pune, Nashik and Satara – in association with Autobahn Trucking. The move will enhance Daimler India Commercial Vehicle's (DICV) capability to service over [...]
NEWSALERT
Government appoints V Anantha Nageswaran as Chief Economic Advisor: Statement. PTI DP RAM
Timely identification, treatment, and management – key to beat heart failure
The heart is a muscular organ with four valves. Its function is to receive deoxygenated blood from the body and pump oxygenated blood to the whole body. Dysfunction in any part of the heart leads to heart failure. When the term Heart Failure is used by doctors, people tend to think that it’s the end [...]
Much Awaited, Much Needed: TRANSFORM II Randomized Controlled Trial, by Fondazione RIC, gets rolling
MILANO, Italy, Jan. 28, 2022 /PRNewswire/ -- FONDAZIONE Ricerca e Innovazione Cardiovascolare, Milano, focused on cardiovascular research, reports the first patient enrolment of the TRANSFORM II Randomized Controlled Trial (Sirolimus-coated Balloon Versus Drug-eluting Stent in Native Coronary Vessels) setting in motion a crucial trial in the Native Coronary Vessel Treatment domain. TRANSFORM II RCT, determined [...]
NIPS School of Hotel Management Awarded as ‘Eastern India’s No. 1 Hotel Management College’ for 8th Consecutive Year
Kolkata, West Bengal, India (NewsVoir) NIPS Hotel Management Institute has continued its tradition of being recognized and honored for its dedication to quality and excellence in hospitality education. The institute has been awarded with Eastern India’s No. 1 Hotel Management College Award by Education Leadership Award-2021 held in Mumbai for 8 consecutive years in a [...]
GE Shipping Q3 Results: Net profit jumps 16.4%
New Delhi, Jan 28 (PTI) Great Eastern Shipping Company Ltd (GE Shipping) on Friday reported a 16.42 per cent jump in consolidated net profit to Rs 205.29 crore for the December 2021 quarter. The country's largest private ship liner had posted a profit of Rs 176.33 crore in the year-ago quarter, the company said in [...]
Bank credit grows 8.01%; deposits 9.28%
Mumbai, Jan 28 (PTI) Bank credit grew 8.01 per cent to Rs 115 lakh crore and deposits rose 9.28 per cent to Rs 159.83 lakh crore in the fortnight ended January 14, according to RBI data. In the fortnight ended January 15, 2021, bank credit stood at Rs 106.43 lakh crore and deposits at Rs [...]
Kotak Mahindra Bank Q3 Results: Standalone net profit rises 31%
Private sector lender Kotak Mahindra Bank on Friday reported a 30.79 per cent jump in its consolidated December quarter net profit at Rs 3,402.74 crore, helped by an all-round performance across subsidiaries. On a standalone basis, the city-based lender posted a 15 per cent rise in post tax net profit at Rs 2,131.36 crore, with [...]
Canon’s newly launched Multi-function Devices bring #ColoursForLife across diverse business needs in the new normal
The new Colour MFDs offer wide-ranging capabilities to support businesses of all sizes – bringing #ColoursForLife to your world GURGAON, India, Jan. 28, 2022 /PRNewswire/ -- In a bid to enhance the color printing ecosystem in India and support businesses with their ever-evolving printing requirements, Canon today announced the launch of the imageRUNNER ADVANCE (iR-ADV) [...]
PNB shares pare early gains; settle nearly 1 pc lower
New Delhi, Jan 28 (PTI) Shares of Punjab National Bank (PNB) on Friday pared all early gains and settled nearly 1 per cent lower amid profit-taking. In the early trade, the stock had gained over three per cent after the company reported a two-fold jump in standalone net profit for the third quarter ended December. [...]
Forex reserves fall to USD 634.287 bln
Mumbai, Jan 28 (PTI) The country's foreign exchange reserves declined by USD 678 million to USD 634.287 billion in the week ended January 21, according to RBI data. In the previous week ended January 14, the reserves had increased by USD 2.229 billion to USD 634.965 billion. It touched a lifetime high of USD 642.453 [...]
Rupee closes almost flat at 75.07 against US dollar
Mumbai, Jan 28 (PTI) The rupee snapped its three-day losing streak to close 2 paise higher at 75.07 against the US dollar on Friday amid expectation of better dollar inflows from upcoming IPOs. However, the rebound in the rupee was restricted amid weakness in domestic equities, analysts said. Forex traders said geopolitical tensions, elevated crude [...]
Embassy REIT Q3 operating income at Rs 621cr; weighs acquisition of 5 mn sq ft area in Chennai
New Delhi, Jan 28 (PTI) Embassy Office Parks REIT on Friday reported 30 per cent increase in net operating income at Rs 621.3 crore and will distribute Rs 493 crore to unitholders for the quarter ended December 2021. Its net operating income (NOI) and distribution to unitholders stood at Rs 478 crore and Rs 431.3 [...]
Hop Electric to soon launch indigenously-built e-motorcycle OXO, high-speed scooter
Mumbai, Jan 28 (PTI) Electric vehicle maker Hop Electric on Friday said it will soon launch its indigenously-built high-speed e-motorcycle OXO along with a high-speed scooter, besides enhancing the retail footprint to 300 cities by this calendar year. The Jaipur-based company also said it added 10 new experience centres in January, taking the total number [...]
Trying to bring Sputnik M vaccine for adolescents to India- Dr Reddy’s
Hyderabad, Jan 28 (PTI): Dr Reddy’s Laboratories on Friday said it is in discussions with the Indian drug regulator to bring Russia’s Sputnik M, a COVID-19 vaccine for the 12 to18-year-old category, to India. Addressing a press conference after announcing the company’s Q3 results, a senior executive of the drug maker said Phase 3 clinical [...]
Construction, operation of buildings responsible for 38% global emissions: WEF
New Delhi, Jan 28 (PTI) Construction and operation of buildings are responsible for 38 per cent of global emissions and there is an urgent need for solutions to help accelerate decarbonisation of the urban-built environment to limit the global temperature rise to below 1.5°C, the World Economic Forum said in a paper on Friday. The [...]
Ola Dash to expand dark stores network to 500 in six months
New Delhi, Jan 28 (PTI) Ola on Friday said Ola Dash, its quick commerce service, aims to expand its dark store network to 500 dark stores spread across 20 cities in the next six months. The expansion of Ola Dash, available on the Ola app, will make it the largest dark store network in India, [...]
India’s largest creator ecosystem Good Creator Co. announces the launch of the ‘Good Creator Co. x Dabboo Ratnani Creator Calendar 2022 curated by MissMalini.’
The ‘Good Creator Co. x Dabboo Ratnani Creator Calendar 2022 curated by MissMalini’ is a first-of-its-kind collaboration to showcase the top influencers in India in a unique and glamorous avatar. This will be the second calendar released this year by the celebrity photographer along with his annual Bollywood star-studded calendar. India, 28 January 2022: Good [...]
AniView adopts Google’s Multi-Customer Management (MCM) feature
With improved transparency and authorization levels to allow for better data privacy and security, AniView now leverages Google’s MCM program to empower hundreds of smaller publishers to channel their brand-safe inventory through its marketplace New Delhi, January 2022 – AniView, a leading provider of holistic, end-to-end Video ad-serving solutions and marketplace for publishers, is now [...]
LPU Student Receives Medal during 73rd Republic Day Celebrations in New Delhi
New Delhi, Delhi, India (NewsVoir) • LPU B Tech 3rd Year student, Ashish Kumar has been declared as one of the top three ‘All India Best NCC Cadet’ in Army Wing • In addition to him, three other LPU students has also participated in 73rd Republic Day Parade in New Delhi • LPU students participated [...]
China Matters presents ‘Zhongshan Efficiency’
BEIJING, Jan. 28, 2022 /PRNewswire/ -- What is 'Zhongshan Efficiency'? In Zhongshan City of Guangdong Province, it takes only five minutes to change the legal representative on a business license. It takes only 10 minutes for the government to solve problems for enterprises on a breakfast meeting. It takes only 15 minutes for an enterprise [...]
BCL Industries Q3 Results: Net profit jumps over 2-fold at Rs 24 cr; revenue up 42%
Punjab-based agri-firm BCL Industries on Friday reported a two-fold jump in consolidated net profit at Rs 24.15 crore for the quarter ended December 2021. The company had posted a net profit of Rs 10.11 crore in the year-ago period. The company said its sales revenue rose 42 per cent to Rs 563.41 crore in the [...]
Shop for the Latest Fitbit Smartwatch on the Bajaj Finserv EMI Store and Get a Flat 33 percent Cashback
Purchase the latest Fitbit smartwatches from the Bajaj Finserv EMI Store and enjoy benefits like No Cost EMI offers, hefty discounts, and free home delivery Pune, Maharashtra, India (NewsVoir) The latest Fitbit smartwatch models are now available with hefty discounts and attractive cashback offers on the Bajaj Finserv EMI Store. Shoppers can purchase Fitbit smartwatches [...]
MUMMBAI, JAN 28
(PTI) MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 61683.00 61220.00 STANDARD GOLD (99.5) : 47988.00 47723.00 PURE GOLD (99.9) : 48181.00 47915.00 --------------- PTI MUM SVC SVC SVC
Governance Now to Honour Achievers with Visionary Awards 2021
Delhi, India (NewsVoir) Governance Now a platform for analysis of public policy and governance from the house of Sri Adhikari Brothers will honour achievers with Visionary Awards of 2021 in a virtual webinar attended by thousands of followers. Hon’ble Union Minister, Law, and Justice, Government of India, Shri Kiren Rijiju, will present Governance Now, Visionary [...]
NARCL to start operations; Rs 50,000 cr of stressed assets to be transferred by Mar-end
Mumbai, Jan 28 (PTI) The National Asset Reconstruction Company (NARCL) or bad bank has received all approvals to commence operations, and a total of 38 NPA accounts worth Rs 82,845 crore have been identified to be transferred to NARCL initially, State Bank of India Chairman Dinesh Khara said on Friday. The transfer of 38 stressed accounts [...]
Eris Lifesciences Q3 Results: profit rises to Rs 101 cr
New Delhi, Jan 28 (PTI) Eris Lifesciences on Friday said its consolidated net profit increased 12 per cent to Rs 101 crore in the third quarter ended December 2021. The company had reported a consolidated net profit of Rs 90 crore in the same period of the previous fiscal. Revenue stood at Rs 332 crore [...]
India to convert 150 villages into ‘Villages of Excellence’ with technical help from Israel: Tomar
New Delhi, Jan 28 (PTI) The Centre on Friday said it has decided to convert as many as 150 villages into 'Villages of Excellence' in 12 states with technical assistance from the Israel government. Already, the Israel government has established 29 Centre of Excellence (CoEs) in 12 states, which are producing more than 25 million [...]
Institutional investment in alternate realty assets up 26% to USD 500 mn in 2021: Report
New Delhi, Jan 28 (PTI) Institutional investment in alternate real estate assets including data centres, senior living and coliving segments jumped 26 per cent to USD 500 million last year, according to a report by real estate consultant Colliers India. The overall institutional investments in real estate fell to USD 4 billion in 2021 from [...]
Flyhomes plans to hire 300 people across verticals in 2022 in India
Mumbai, Jan 28 (PTI) US-based real estate brokerage Flyhomes on Friday said it is planning to scale-up its employee-base in India by two times this year.The company currently employs over 300 people in India and over 850 worldwide, Seattle-headquartered Flyhomes said in a statement.In India, the organisation is currently looking for talent in areas such [...]
Markets succumb to late sell-off; log weekly losses
Mumbai, Jan 28 (PTI) Market benchmarks reversed early gains to close in the red on Friday, capping a week of heavy declines triggered by a hawkish US Federal Reserve, geopolitical tensions and unabated foreign fund outflows. Starting off on a high note, the 30-share BSE Sensex soared above the key 58,000-level, before plunging to a [...]
IIFL Finance Q3 Results: Net profit up 15%
New Delhi, Jan 28 (PTI) IIFL Finance on Friday reported 15 per cent increase in net profit at Rs 310 crore for December quarter 2021-22, backed by growth in home and gold loan businesses. The company had logged a net profit of Rs 269 crore in the year-ago period. Total income during the period under [...]
NCUI hails merger of PMC BANK with Unity SFB; bats for security of depositors’ money
New Delhi, Jan 28 (PTI) Welcoming the merger of debt-ridden Punjab and Maharashtra Cooperative (PMC) Bank with Unity Small Finance Bank (Unity SFB), cooperative body NCUI on Friday said that it needs to be ensured that depositors' money is secure. On January 25, the union finance ministry had approved the merger of [...]
Mirae Asset Investment Managers (India) Pvt. Ltd. plans to offer Global X ETF products to Indian investors
- Mirae Asset Global Investments is now 14th largest ETF provider in the world - Mirae Asset Investment Managers (India) Pvt. Ltd. ("Mirae Asset India") is planning to offer Global X ETF products MUMBAI, India, Jan. 28, 2022 /PRNewswire/ -- Mirae Asset Investment Managers (India) Pvt. Ltd., one of the fastest growing fund houses in [...]
Tata Coffee Q3 Results: Net profit rises to Rs 69.46 crore
Tata Coffee Ltd on Friday posted a 38.42 per cent jump in consolidated net profit at Rs 69.46 crore in the three months ended December 2021 on the back of strong revenues. The company had clocked a net profit of Rs 50.18 crore in the same quarter of the previous financial year, according to a [...]
Union Budget for FY23 likely to aim at boosting growth, achieving fiscal consolidation: BoB eco research
Kolkata, Jan 28 (PTI) In view of upcoming state elections, the Union Budget for the 2022-23 financial year will aim at boosting growth, achieving fiscal consolidation and driving consumption, Bank of Baroda (BoB) said in its latest economic research report. It also stated that there could be changes in tax concessions, while production-linked incentive (PLI) [...]
Egis Certified Top Employer 2022 in France and India
The Top Employers Institute have officially reward Egis as a 2022 Top Employer in France and in India New Delhi, Delhi, India (NewsVoir) For over 25 years, Top Employers Institute is the global authority on recognising excellence in People Practices. Being certified as a Top Employer showcases an organisation’s dedication to a better world of [...]
Sany India Delivers India’s Largest Crawler Crane for Wind Mill Application
Pune, Maharashtra, India (NewsVoir) Sany India, a leading construction equipment manufacturer in India, has added one more feather to their cap with the key handover of the country’s first 800 tons lifting capacity crawler crane to Dwarkesh Transport Corporation, Sany India’s esteemed patron based in Anand, Gujarat. Sany SCC8000A is India's largest Crawler Crane with [...]
Social Swag raises USD 3.5 million in pre-Series-A funding round
Mumbai, Jan 28 (PTI) New-age content platform Social Swag, which is a collective brainchild of Akshay Kumar, Rana Daggubati Collective Artists and Mahesh Bhupathi, on Friday said it has raised USD 3.5 million in a pre-Series-A funding round. The round has been led by IMEF and Unicorn India Ventures, which has made its maiden announcement [...]
Deepak Fertilisers Q3 Results: Consolidated net profit jumps 103%
New Delhi, Jan 28 (PTI) Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) on Friday posted nearly two-fold jump in consolidated net profit at Rs 180.61 crore for the third quarter of 2021-22. The company's net profit stood at Rs 88.95 crore in the same quarter of the previous fiscal year, according to a BSE filing. [...]
Chambal Fertilisers Q3 Results: Consolidated net profit falls 8%
New Delhi, Jan 28 (PTI) Chambal Fertilisers and Chemicals Ltd on Friday reported an 8 per cent decline in consolidated net profit at Rs 435.17 crore for the quarter ended December 2021. Its net profit stood at Rs 470.75 crore in the year-ago period. Total income, however, increased to Rs 4,762.22 crore in the third [...]
15 NPA accounts worth Rs 50,000 cr to be transferred to NARCL by Mar-end: SBI chairman
State Bank of India Chairman Dinesh Khara on Friday said the National Asset Reconstruction Company (NARCL) or bad bank and India Debt Resolution Company Ltd (IDRCL) are ready to commence operations and a total of 38 NPA accounts worth Rs 82,845 crore have been identified to be transferred to NARCL initially. Khara said the transfer [...]
Google to invest $1 Billion in Airtel; To buy 1.28% Stake
Google will invest as much as USD 1 billion in Bharti Airtel in picking up a 1.28% stake and in scaling up offerings of India's second-largest mobile phone operator, the telecom major said on Friday. Alphabet Inc's Google will pay USD 700 million (Rs 734 per share) for a 1.28% stake in Bharti Airtel Ltd [...]
Moglix raises $250 mn at $2.6 bn valuation
New Delhi, Jan 28 (PTI) Industrial B2B e-commerce platform Moglix on Friday said it has raised USD 250 million (about Rs 1,876.5 crore) led by Tiger Global and Alpha Wave Global with Hong Kong-based Ward Ferry coming onboard as a new investor.The series F funding round valued the company at USD 2.6 billion, a statement [...]
Tangible profits make biz successful, sustainable, says Birla amid high valuation of cos
Mumbai, Jan 28 (PTI) Stressing that successful businesses are the ones which deliver tangible profits, billionaire Kumar Mangalam Birla on Friday said "trusty old concepts" like gross margins and cash flows will matter eventually even while valuations jump. The Chairman of the USD 44-billion Aditya Birla Group also said that ultimately unit economics will have [...]
HPCL expands footprint in non-fuel retailing
New Delhi, Jan 28 (PTI) Hindustan Petroleum Corporation Ltd (HPCL) will set up its own chain of multi-channel retail stores at its petrol pumps as the nation's third-largest fuel retailer looks to give a push to non-fuel retailing. As part of this, HPCL has opened two more convenio stores under the brand name 'HaPpyShop', the [...]
Former finance secy Subhash Garg turns author; book to hit stands in Feb
New Delhi, Jan 28 (PTI) Former finance secretary Subhash Chandra Garg will soon make his debut as an author with upcoming book, "The $10 Trillion Dream", which claims to explore the critical policy issues that India faces today and suggests reforms for it to become a USD 10 trillion economy by the mid-2030s.The book, scheduled [...]
MUMBAI, JAN 28 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST.
COPPER :- COPPER CABEL SCRAP 730.00 COPPER HEAVY SCRAPS 721.00 COPPER ARMATURE (CREDIT) 703.00 COPPER UTENSILS SCRAP 637.00 CC ROD 778.00 BRASS :- BRASS SHEET CUTTING 537.00 BRASS UTENSIL SCRAP 488.00 BRASS HONEY 480.00 ALUMINIUM :- ALUMINIUM UTENSIL SCARPS 184.00 ALUMINIUM EXTRUSION SCRAP 216.00 ALUMINIUM INGOTS 251.00 OTHER : - GUN METAL SCRAP 520.00 ZINC [...]
PRICES MUM OILSEEDS CLOSING
MUMBAI, JAN 28 (PTI) OILS (per 10 Kgs) G.Nut Raw 1330.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1200.00 Sunflower Exp.Ref. 1260.00 Cottonseed(Refined) 1275.00 Refined Palm Oil 1208.00 Soyabean Ref. 1240.00 Imp.Soyabean Crude - Rapeseed Ref. 1680.00 Rapeseed Exp. 1650.00 Copra white 1580.00 Rice Bran 4-7% FFA - Rice Bran 1160.00 Linseed 1950.00 Castor [...]
NEWSALERT
Sensex ends 76.71 pts lower at 57,200.23 in late sell-off; Nifty slips 8.20 pts to 17,101.95. PTI MKJ MKJ ABM ABM
Bharat Biotech gets nod for COVID-19 intra-nasal vaccine phase-3 trials
Hyderabad, Jan. 28 (PTI): Bharat Biotech has received approval from the Drug Controller General of India to conduct phase-3 trials for its COVID-19 intra-nasal vaccine (BBV154), sources in the company said on Friday. The trials would evaluate the nasal vaccine for both the two-dose primary schedule and also to use as booster dose schedule, they [...]
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