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Debt-free auto ancillary stocks trading under ₹ 200 to keep an eye on
Auto Ancillary companies refer to the companies that manufacture and supply parts, components, and accessories for the automotive industry. These companies provide critical components that are used in the production and maintenance of vehicles, such as engines, transmissions, brakes, suspensions, and electrical systems. Being debt-free allows companies to allocate more resources towards research, development, and [...]
Stock held by LIC in renewable energy business to keep on your radar
The renewable energy sector in India has gained significant traction due to increasing government support, technological advancements, and a global shift towards sustainable practices. The sector encompasses various sources such as solar, wind, and hydroelectric power, reflecting a commitment to reducing carbon emissions and transitioning away from fossil fuels. Investing in renewable energy stocks in [...]
₹ 62 to ₹ 180: Power stock turns ₹ 1 Lakh to ₹ 19 Lakhs in just 4 years
The power generation industry is crucial for global energy supply, with a total installed capacity of 416,059 MW in India as of FY24. The sector is dominated by coal (49.3%) and renewable sources (30.2%), reflecting a significant shift towards cleaner energy solutions amid rising demand for electricity. With a market capitalization of Rs 18,458.38 crore, [...]
Financially strong stocks with high growth prospects to add to your watchlist
Financially strong stocks with high growth prospects typically exhibit characteristics such as robust revenue growth, strong market positions, and innovative business models. Investors often look for companies with high returns on equity, consistent earnings growth, and a significant addressable market to maximize potential returns. Here are three such financially strong stocks with high growth potential: [...]
Smallcap stock jumps after company becomes debt free
Shares of this diversified financial services group increased by 2.5% on the NSE after it repaid Rs. 163.75 crores for an outstanding term loan and interest, thus attaining debt-free status. Stock Price Variations: With a market capitalization of Rs. 8,960.91 crores the shares of Religare Enterprises Ltd started the session with a gap up opening [...]
Railway stock hits 5% upper circuit after receiving order worth ₹ 127.4 Cr for steel sheet piles
During Friday’s trading session, the shares of a railway components manufacturer hit a 5 percent upper circuit at Rs. 1,809.6 on BSE, after the company bagged an order worth Rs. 127.44 crores from an infrastructure industry. With a market capitalisation of Rs. 1,467.4 crores, at 02:07 p.m., the shares of Cosmic CRF Limited were trading [...]
Infra stock hits 20% upper circuit after Adani Group to acquire 47% stake in the company
Leading infrastructure stock hits a 20 percent upper circuit, reaching Rs.565.85 per share, after Adani Group acquires a 46.64 percent stake from the promoters of the company. Share Price Movement In Friday’s trading session, ITD Cementation India Ltd’s shares hit a 20 percent upper circuit to Rs.565.85 per share, from the previous closing price of [...]
NBFC stock jumps 12% after EQT to acquire 100% stake in its subsidiary for ₹ 1,750 Cr
Shares of an NBFC registered with the RBI as a systemically important non-deposit-taking company surged 12.7 percent on BSE to hit a new 52-week high at Rs. 339.7 on Friday, after the company’s Board approved the sale of its subsidiary to EQT, a global private equity investor, for Rs. 1,750 crores. With a market capitalisation [...]
Smallcap stock in which RK Damani is consistently selling stake in the company
According to the Tobacco Institute of India, India is the world's second-largest producer of tobacco, with an annual production of approximately 800 million kg. The tobacco industry significantly contributes to the economy, generating over ₹72,000 crores in tax revenue annually. Despite legal cigarettes accounting for only 9% of consumption, they remain a crucial revenue source [...]
Defence stock jumps 4% after receiving license to manufacture heavy machine guns
The shares of this leading machine tools manufacturer's and exporter of CNC machines gained 3.7% on Friday’s trade after the company received a grant of license to manufacture of Fixed / Towed Heavy Machine Guns. At 12:15 a.m., Lokesh Machines Ltd. shares were trading at ₹378 apiece, up 0.47% from the previous close price on [...]
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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
Bill & Melinda Gates Foundation Appoints Board of Trustees – Four New Members Join Co-Chairs Bill Gates and Melinda French Gates to Shape Foundation Governance and Increase Impact
In inaugural foundation annual letter, CEO Mark Suzman reflects on evolution of foundation's governance and work to fight poverty, disease, and inequity globally SEATTLE, Jan. 26, 2022 /PRNewswire/ -- Today, the Bill & Melinda Gates Foundation appointed a board of trustees, with Strive Masiyiwa, Baroness Nemat (Minouche) Shafik, Thomas J. Tierney, and Gates Foundation CEO [...]
Asia Alternatives Announces Fund Closings of US$2 billion
BEIJING and HONG KONG and TOKYO and SAN FRANCISCO, Jan. 25, 2022 /PRNewswire/ -- Asia Alternatives, one of the largest independent Asian private equity fund-of-funds, today announced the final close of US$2 billion in new commitments across Asia Alternatives Capital Partners VI, LP and several fund vehicles (the "Funds"). The Funds are focused on building [...]
Shield AI Establishes International Office in UAE under Leadership of Bob Harward
Former Lockheed Martin Chief Executive and Navy SEAL Vice Admiral to lead expansion of company's global operations SAN DIEGO, Jan. 25, 2022 /PRNewswire/ -- "Teams of autonomous aircraft that train and learn to execute increasingly complex missions will give our military and allies intelligent, affordable mass. The intersection of AI, autonomy, and aircraft is transformational [...]
3Pillar Global’s India Workplace Culture Acknowledged by Great Place to Work® Institute For The Fifth Year In A Row
Leading digital product company's India team recognized with noteworthy award FAIRFAX, Va., Jan. 25, 2022 /PRNewswire/ -- 3Pillar Global ("3Pillar"), a global developer of cutting-edge digital products and a leader in digital innovation strategy, has been named a Great Place to Work by the Great Place to Work® Institute for the fifth year in a [...]
Radancy Announces Acquisition of Firstbird – A Global Leader in SaaS Based Employee Referral Programs
NEW YORK, Jan. 25, 2022 /PRNewswire/ -- Radancy, the global talent technology leader, is pleased to announce its plans to acquire Firstbird, a global leader in SaaS based employee referral programs. Based in Vienna, Austria, Firstbird offers a comprehensive software solution to digitize and streamline the employee referral process. The acquisition of Firstbird is expected [...]
Sequoia, Owl Ventures board upskilling platform Growth School with USD 5 mn funding
Mumbai, Jan 27 (PTI) Community-led live learning platform Growth School has roped in US-based private equity major Sequoia Capital India and edutech-focused investment firm Owl Ventures, who led a USD 5-million funding round along with over 70 angel investors. The leading angels who participated in the seed funding round include entrepreneurs such as Kunal Shah [...]
Republic Day Sale: Grab Pocket-friendly Deals on Samsung Smartwatches on Bajaj Finserv EMI Store
Buy Samsung smartwatches with No Cost EMI and avail of exciting cashback offers at the Bajaj Finserv EMI Store Pune, Maharashtra, India (NewsVoir) The Bajaj Finserv EMI Store has announced exciting deals and discounts on Samsung smartwatches for the upcoming Republic Day Sale. Shoppers can avail of exclusive cashback deals and No Cost EMI plans [...]
Republic Day Sale: Get up to 71 percent off on HomeTown Furniture on the Bajaj Finserv EMI Store
Bajaj Finserv EMI Store offers No Cost EMI and other benefits Pune, Maharashtra, India (NewsVoir) For its upcoming Republic Day Sale, the Bajaj Finserv EMI Store has announced amazing deals and cashback offers on HomeTown furniture. With EMIs starting at Rs. 1,017, shoppers get to revamp their homes with HomeTown furniture and avail of discounts [...]
XREX Acquires Money Services Business License from Canada’s FINTRAC
The license marks a pivotal milestone in XREX's international expansion strategy as it seeks to serve more clients in North America and around the globe TAIPEI, Jan. 26, 2022 /PRNewswire/ -- XREX Inc. announced today that it has obtained the Money Services Business (MSB) license from the Financial Transactions and Reports Analysis Centre (FINTRAC) under [...]
Skyroot raises $4.5 mn in funding led by Google’s founding board member Ram Shriram
New Delhi, Jan 27 (PTI) Space technology startup Skyroot Aerospace has raised USD 4.5 million (about Rs 34 crore) in a bridge round to Series B funding led by Google's founding board member Ram Shriram’s Sherpalo Ventures, the company said on Thursday.The round also witnessed participation by Wami Capital, existing investors - former Whatsapp chief [...]
Glenmark Pharma arm gets final USFDA approval for blood pressure drug
New Delhi, Jan 27 (PTI) Glenmark Pharmaceuticals Ltd on Thursday said its US subsidiary has received final approval from the country's health regulator for its generic Bisoprolol Fumarate and Hydrochlorothiazide tablets used to treat high blood pressure.The approval granted to Glenmark Pharmaceuticals Inc, USA by the United States Food & Drug Administration (USFDA) is for [...]
LICHFL Q3 Results: Profit After Tax up 6% to Rs 767.33 cr
Mumbai, Jan 27 (PTI) Mortgage lender LIC Housing Finance (LICHFL) on Thursday reported a 6 per cent increase in profit after tax at Rs 767.33 crore for the quarter ended December 2021, aided by higher collections and drop in provisions. It had reported a profit after tax of Rs 727.04 crore in the same period [...]
Future Enterprises to sell 25% stake in general insurance JV to partner Generali for Rs 1,253 Cr
New Delhi, Jan 27 (PTI) Debt-ridden Future Group has announced that it will sell its 25 per cent equity in Future Generali India Insurance Company Limited (FGIICL) to its JV partner Generali for a cash consideration of Rs 1,252.96 crore as part of its asset monetisation plans to pair debts.Besides, Generali has also acquired an [...]
Mumbai: Google CEO, others face FIR over ‘Unauthorised’ Uploading of film on YouTube
A First Information Report (FIR) was registered here against Google, its CEO Sundar Pichai and seven others over a complaint filed by a film producer under the copyright act, Mumbai police said on Wednesday. The search engine giant said in its reaction that it has a set mechanism which copyright owners can use to protect [...]
Adani Wilmar IPO opens on Thursday to raise up to Rs 3,600 cr
New Delhi, Jan 26 (PTI) Edible oil major Adani Wilmar will on Thursday hit the capital market to raise up to Rs 3,600 crore through its Initial Public Offer (IPO). The proceeds of the public issue will be used to fund capital expenditure, reduce debt and for acquisitions as the company seeks to become India's [...]
State-run TCIL’s 30 pc stake in Bharti Hexacom valued at around Rs 8,900 cr
New Delhi, Jan 26 (PTI) The government has valued the 30 per cent stake of state-run TCIL in Bharti Hexacom at around Rs 8,900 crore, based on a formula suggested by SBI Capital Markets, an official source said. Bharti Airtel holds 70 per cent stake in Bharti Hexacom, which provides telecom services in Rajasthan and [...]
Mumbai: FIR against Google CEO, others in copyright `violation’ case
Mumbai, Jan 26 (PTI) A First Information Report (FIR) has been registered here on court orders against Google, its CEO Sunder Pichai and five other employees of the company in an alleged copyright violation case, city police said on Wednesday.The search engine giant said in its reaction that it has a set mechanism which copyright [...]
o9 Solutions raises USD 295 mn funding from General Atlantic, others
New Delhi, Jan 26 (PTI) o9 Solutions on Wednesday said it has received equity investments totalling USD 295 million from General Atlantic, including its climate investing venture BeyondNetZero, Generation Investment Management and existing investor KKR, valuing the enterprise AI software platform at USD 2.7 billion. This marks an increase from the USD 1 billion valuation [...]
MP to soon launch new start-up policy backed with venture fund
Indore, Jan 26 (PTI) With an aim to boost start-ups in Madhya Pradesh, the state government will soon unveil a policy, including a venture capital fund, to promote innovative business ideas, Chief Minister Shivraj Singh Chouhan said on Wednesday. "If we want to turn India into a 5,000-billion-dollar economy, then we will have to encourage [...]
Essar sets up Vertex Hydrogen to help drive energy transition in the UK
New Delhi, Jan 26 (PTI) Essar group on Wednesday announced a new joint venture with Progressive Energy to build the UK's largest hydrogen hub at the Stanlow manufacturing complex at an investment of 1 billion pounds. "Led by Essar as the majority shareholder, Vertex Hydrogen has been formed to provide the catalyst for development of [...]
Kinetic Green to invest around Rs 100 cr in electric two-wheeler biz
Mumbai, Jan 26 (PTI) Kinetic Green Energy & Power Solutions, which has partnered with Chinese EV major Aima Technology Group to co-design and develop electric two-wheelers for the Indian market, plans to invest around Rs 80-100 crore on the project, which entails three new models this year itself, its founder-CEO Sulajja Firodia Motwani has said. [...]
PLI scheme to help auto industry become self-reliant, globally competitive: TKM
New Delhi, Jan 26 (PTI) The production-linked incentive (PLI) scheme for the automobile sector aims to provide impetus to a greener future and is also expected to make the industry self-reliant and globally competitive, automaker Toyota Kirloskar Motor said on Wednesday. The company, which is a joint venture between the Japanese Toyota Motor Company and [...]
Naina Lal Kidwai resigns from Cipla board
New Delhi, Jan 26 (PTI) Drug major Cipla on Wednesday said Naina Lal Kidwai has resigned as independent director on its board, with effect from March 31, 2022. In a letter shared by the Mumbai-based drug firm, the veteran banker noted that she has put in her papers to fulfil several other responsibilities and professional [...]
Minor impact of new COVID wave on sales, no change in FY’22 pre-sales guidance: Abhishek Lodha
New Delhi, Jan 26 (PTI) Realty firm Macrotech Developers saw a "minor" impact on housing demand in the first two weeks of January this year due to surge in COVID cases and remains confident of meeting the Rs 9,000-crore sales bookings target for this fiscal, its MD & CEO Abhishek Lodha said. Macrotech Developers markets [...]
India initiates anti-dumping probe against imports of vinyl tiles from China, Taiwan, Vietnam
New Delhi, Jan 26 (PTI) India has initiated an anti-dumping probe against imports of a certain type of tiles, used for covering the floors in residential and commercial buildings, from China, Taiwan and Vietnam following a complaint by domestic players. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) is probing the alleged [...]
Air India likely to be handed over to Tata group on Thursday
The Indian government is likely to hand over Air India to the Tata Group on Thursday, nearly 69 years after it was taken from the conglomerate, officials said on Wednesday. After a competitive bidding process, the government had on October 8 last year sold Air India to Talace Private Limited - a subsidiary of the [...]
Tork Motors launches electric motorcycle KRATOS, KRATOS-R
Mumbai, Jan 26 (PTI) Bharat Forge-backed electric two-wheeler maker Tork Motors on Wednesday said it has launched its electric motorcycle KRATOS, along with a variant KRATOS-R, priced at Rs 1.08 lakh and Rs 1.23 lakh (effective ex-showroom Pune post subsidy) respectively. The company said bookings of KRATOS can be made online through its website and [...]
Vedanta demerger call by March-end: Anil Agarwal
New Delhi, Jan 26 (PTI) Metals and mining group Vedanta Ltd will announce the contours of a proposal to spin off key businesses into separate listed companies by March-end, its chairman Anil Agarwal said, as he looks to simplify and streamline the corporate structure to create value. While the zinc business is already housed in [...]
Coal Ministry CPSEs clock 28.33 pc growth in capex
New Delhi, Jan 26 (PTI) The government on Wednesday said the Ministry of Coal, through its CPSEs, has registered a 28.33 per cent year-on-year growth in capex achievement at Rs 12,605.75 crore for the period ending December, 2021. The Ministry of Coal, through its Central Public Sector Enterprises (CPSEs), had registered a capex achievement of [...]
Liquor makers approach NCLAT against CCI order, allege abuse of dominance by KSBC in Kerala
New Delhi, Jan 26 (PTI) Liquor industry bodies CIABC and ADBVI have approached the NCLAT alleging abuse of dominant position by the Kerala State Beverages (Manufacturing and Marketing) Corporation in the state. The Confederation of Indian Alcoholic Beverage Companies (CIABC) and Association of Distillers Brewers and Vintners of India (ADBVI) have challenged an earlier order [...]
TCS 2nd most valuable IT services brand globally, 5 others in top 25 tally: Brand Finance
New Delhi, Jan 26 (PTI) Tata Consultancy Services (TCS) has become the second most valuable brand in the IT services sector globally, while Infosys and four other Indian tech majors have firmly established their position among the top 25 IT services brands tally, according to Brand Finance. Following TCS and Infosys (third spot), there are [...]
Elan Group acquires 40-acre land in Gurugram for Rs 580 cr from Indiabulls Real Estate
New Delhi, Jan 26 (PTI) In a big-ticket land deal, Elan Group has bought around 40-acre land in Gurugram for Rs 580 crore from Indiabulls Real Estate to develop housing and commercial projects. With the purchase of this land parcel, located on Dwarka Expressway, Elan Group will make an entry into the housing segment with [...]
Indian Biogas Association urges govt to set up ‘Biogas Fertiliser Fund’
New Delhi, Jan 26 (PTI) The Indian Biogas Association (IBA) has urged the government to set up a 'Biogas Fertiliser Fund' with an initial provision of Rs 1.4 lakh crore for five years, as it has the potential to benefit five crore farmers and to reduce fossil fuel import bill. For materializing the envisaged target [...]
Jio-bp opens EV charging hub in Delhi; petrol pump count inching up
New Delhi, Jan 26 (PTI) A joint venture of billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) and energy supermajor BP has opened one of the country's largest EV charging hubs in Delhi, as the duo scale up the fuel retail network, offering multiple fuel choices including EV charging infrastructure. Reliance BP Mobility Limited, operating under [...]
Bring natural gas under GST to realise PM’s vision of gas-based economy: Industry
New Delhi, Jan 26 (PTI) The government should bring natural gas under the Goods and Services Tax (GST) regime to realise Prime Minister Narendra Modi's vision for a gas-based economy and raising the share of the environment-friendly fuel in India's energy basket, an industry body that represents the likes of Reliance Industries as well state-owned [...]
Centre should continue financial help it has been giving to states since GST implementation for 2 years: Maha Dy CM
Pune, Jan 26 (PTI) The Central government should continue the financial assistance to states which it has been giving since the implementation of GST for at least two more years in view of the coronavirus pandemic, Maharashtra Deputy Chief Minister Ajit Pawar said here on Wednesday. Speaking to reporters after unfurling the National Flag on [...]
Budget 2022: Insurers urge higher 80C investment limit; reduction in GST on health products
Mumbai, Jan 26 (PTI) Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80 C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax [...]
Feb, March to see increase in demand: Shriram Transport Finance
Chennai, Jan 26 (PTI) Signaling a return to normalcy, India's largest truck lender, Shriram Transport Finance Company on Wednesday said its collection efficiency returned to 100 per cent in the second half of January after undergoing a brief blip in the first fortnight. Shriram Transport Finance Company Vice-Chairman and Managing Director Umesh Revankar said the [...]
Market Note
Mumbai, Jan 26 (PTI) Equity, forex and bullion markets will remain closed on Wednesday on account of Republic Day. PTI ABM ABM
Finolex Industries Q3 Results: Net profit declines 30.5% to Rs 178 cr
Pune-based farm pipes major Finolex Industries on Tuesday reported a massive 30.5 per cent decline in net income to Rs 1,177.8 crore for the three months to December 2021 from Rs 255.9 crore a year ago, even though revenue declined only 5.7 per cent to Rs 1,005.25 crore. The bottomline (profit) was hit as the [...]
Indiabulls Real Estate posts Rs 87 cr loss in Dec quarter
Indiabulls Real Estate Ltd (IBREL) on Tuesday reported a consolidated net loss of Rs 87.21 crore for the quarter ended December. Its net profit stood at Rs 80.58 crore in the year-ago period, according to a regulatory filing. Total income fell to Rs 355.59 crore in the third quarter of this fiscal, from Rs 756.81 [...]
Inox Wind Energy gets shareholders’ nod to raise up to Rs 90 cr
New Delhi, Jan 25 (PTI) Inox Wind Energy on Tuesday said it has got shareholders' approval to raise up to Rs 90 crore through issuance of 10.62 lakh convertible warrants. The approval was received at its Extraordinary General Meeting (EGM) on Tuesday. The convertible warrants will be issued at the rate of Rs 847 per [...]
Telcos seek spectrum allocation through auction only, satellite players oppose
New Delhi, Jan 25 (PTI) Telecom operators Reliance Jio, Bharti Airtel and Vodafone Idea in their submission to the sector regulator Trai have sought allocation of spectrum through auction and opposed giving away any amount of airwaves to any commercial entity through any other means. Telecom players have demanded up to 95 per cent cut [...]
Allcargo Logistics appoints V S Parthasarathy as vice-chairman with immediate effect
Mumbai, Jan 25 (PTI) Private logistics player Allcargo Logistics on Tuesday announced the appointment of Mahindra Group's former executive board member V S Parthasarathy as its vice-chairman with immediate effect. His role as the company's non-executive non-independent vice-chairman will be to guide, mentor and help drive its transformation along with subsidiaries ECU Worldwide and Gati [...]
Krishna and Suchitra Ella, Cyrus Poonawalla, N Chandrasekaran, Pichai, Nadella among Padma Bhushan awardees
New Delhi, Jan 25 (PTI) Founders of indigenous COVID-19 vaccine developer Bharat Biotech -- Krishna Ella and Suchitra Ella, along with Cyrus Poonawalla, the chairman and MD of another vaccine manufacturer Serum Institute of India and Tata group chief N Chandrasekaran were among the top industry leaders who were on Tuesday conferred the country's third [...]
Allcargo Logistics appoints V S Parthasarathy as vice-chairman with immediate effect
Mumbai, Jan 25 (PTI) Private logistics player Allcargo Logistics on Tuesday said the appointment of Mahindra Group's former executive board member V S Parthasarathy as its vice-chairman with immediate effect. His role as the company's non-executive non-independent vice-chairman will be to guide, mentor and help drive its transformation along with subsidiaries ECU Worldwide and Gati [...]
Crisis-hit PMC Bank branches to operate as USFBL branches; takeover process complete
Mumbai, Jan 25 (PTI) In a relief for jittery depositors, all branches of the crisis-hit PMC Bank will now function as the branches of the Unity Small Finance Bank Ltd (USFBL) with the completion of the takeover that also marks the end of a more than two-year long RBI-led revival process. With the Union government [...]
Global restructuring: HUL says India continues to be among top 3 priority markets for Unilever
New Delhi, Jan 25 (PTI) Hindustan Unilever on Tuesday said India continues to be among the top three priority markets for its parent Unilever, which has announced an organisational restructuring that will result in 1,500 job cuts across senior and junior management roles globally. When reached out for comments on whether Unilever's proposed new organisational [...]
More than 70 corporates join NITI initiative
New Delhi, Jan 25 (PTI) Over 70 corporate partners from e-commerce, ride-hailing, logistics and manufacturing ecosystems have joined 'Shoonya', a NITI Aayog and Rocky Mountain Institute (RMI) India initiative to promote zero-pollution mobility across the nation. RMI India in a statement said the campaign aims to promote the use of electric vehicles (EVs) for deliveries [...]
GE T&D India to sell global engr biz to GEIIPL for Rs 140 cr
New Delhi, Jan 25 (PTI) GE T&D India Ltd board has approved a proposal to sell its Global Engineering Operations Division (GEOD Business) to GE India Industrial Private Ltd (GEIIPL) via a slump sale for a cash consideration of Rs 140.6 crore. "The company has, in the meeting of its board of directors that was [...]
Raymond’s net profit sees multifold jump to Rs 101.07 cr in Dec quarter
Raymond Ltd on Tuesday reported a multifold jump in its net profit of Rs 101.07 crore for the third quarter ended December 2021, helped by improved performance across the segment. The company had posted a net profit of Rs 22.18 crore during the corresponding quarter of the previous financial year, Raymond said in a regulatory [...]
Adani Wilmar raises Rs 940 cr from anchor investors ahead of IPO
New Delhi, Jan 25 (PTI) Edible oil major Adani Wilmar Ltd (AWL) on Tuesday said it has garnered Rs 940 crore from anchor investors, days before its initial public offering (IPO) roll-out. The company has decided to allocate around 4.09 crore equity shares to anchor investors at Rs 230 apiece, aggregating the transaction size to [...]
Gadkari urges construction sector to substitute diesel with alternative fuels
New Delhi, Jan 25 (PTI) Expressing concern over the use of diesel in the construction industry, Union Minister Nitin Gadkari on Tuesday said the sector must work for substitution of the fossil fuel with alternative fuels like bio-ethanol, LNG and CNG, which will not only reduce hazardous emissions but also cut the huge import bill. [...]
Uttam Galva Steels net loss soars to Rs 59 cr Dec quarter
New Delhi, Jan 25 (PTI) Uttam Galva Steels Limited on Tuesday posted a consolidated net loss of Rs 59.64 crore during the third quarter ended on December 31, 2021. The company had posted Rs 26.82 crore net profit in the year-ago quarter, Uttam Galva Steels said in a regulatory filing. During the October-December period, the [...]
RPG Life Sciences Q3 net up 14 pc at Rs 15 cr
New Delhi, Jan 25 (PTI) RPG Life Sciences on Tuesday said its net profit increased 14 per cent to Rs 14.63 crore for the third quarter ended December 31, 2021. The company had reported a net profit of Rs 12.87 crore in the same period of the previous fiscal. Revenue from operations rose to Rs [...]
CAIT writes to home minister, seeks ban on Amazon alleging Flag Code of India violation
New Delhi, Jan 25 (PTI) Traders' body CAIT on Tuesday wrote to Home Minister Amit Shah seeking a ban on the e-commerce giant Amazon's portal for alleged violation of the Flag Code of India. In a letter to Shah, the Confederation of All India Traders (CAIT) requested him to "direct the concerned government authorities to [...]
Indian-origin executives in ‘lean’ Unilever corporate shakeup
London, Jan 25 (PTI) UK-headquartered consumer goods giant Unilever on Tuesday announced a major organisational shakeup to make the company leaner, which involves some of its Indian-origin executives, and plans to lay off 1,500 staff as part of the wider restructuring of its global operations.Sanjiv Mehta retains executive leadership of Mumbai-headquartered subsidiary Hindustan Unilever, while [...]
Budget must focus on near-term income support measures, delay fiscal correction: Report
Mumbai, Jan 25 (PTI) Noting that household consumption, which forms as much as 55 per cent of the GDP, has contracted by 10.1 per cent in FY21, a report has called for some radical measures in the forthcoming Budget to undo the damages by adopting a loose fiscal policy and focusing on near-term income and [...]
Elan group buys 40-acre land from Indiabulls Real Estate for Rs 580 cr
New Delhi, Jan 25 (PTI) Realty firm Elan group has bought around 40 acres of land in Gurugram from Indiabulls Real Estate Ltd (IBREL) for Rs 580 crore for the development of housing and commercial projects. Sources said the 40 acre land parcel at Sector 106 in Gurugram is fully licensed. Out of that, 30 [...]
Aavishkaar Capital, KfW launch USD 250 mn ESG First Fund
New Delhi, Jan 25 (PTI) Aavishkaar Capital, in partnership with German state-owned investment and development bank KfW, on Tuesday announced the launch of a USD 250 million ESG First Fund. The fund will focus on strengthening the Environmental, Social and Governance (ESG) practices of mid-cap businesses while offering them flexible capital to scale to new [...]
RBI-monitored takeover process complete: Crisis-hit PMC Bank branches to operate as USFBL branches
New Delhi, Jan 25 (PTI) Crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank's takeover by the Unity Small Finance Bank (USFBL) came into effect on Tuesday, with the government notifying the scheme of amalgamation. PMC Bank branches will operate as USFBL branches from Tuesday onwards, the Reserve Bank of India (RBI) said in a statement on [...]
Max India posts Rs 5.7 cr net loss in Dec quarter
New Delhi, Jan 25 (PTI) Max India on Tuesday reported a consolidated net loss of Rs 5.70 crore for the quarter ended December.Its net loss stood at Rs 12.97 crore in the year-ago period.Total income rose to Rs 42.83 crore in the third quarter of this fiscal from Rs 34.20 crore in the corresponding period [...]
MP cops file FIR against sellers over tricolour-themed products on Amazon
Bhopal, Jan 25 (PTI) Police on Tuesday evening registered an FIR in Bhopal against unidentified sellers on e-commerce giant Amazon after it emerged that some products, including shoes, featuring images of the Indian flag were being sold on its platform in contravention of rules, an official said.The action came hours after Madhya Pradesh Home Minister [...]
Cosmo Films Q3 net profit rises 66 pc to Rs 104.4 cr; revenue up 35 pc to Rs 770.53 cr
New Delhi, Jan 25 (PTI) Packaging firm Cosmo Films Ltd on Tuesday reported a 66.41 per cent jump in its consolidated net profit to Rs 104.42 crore for the third quarter ended December 2021, helped by lower finance cost and effective tax rate. The company had posted a consolidated net profit of Rs 62.75 crore [...]
Goyal reviews fast track implementation of infra projects through PMG portal
New Delhi, Jan 25 (PTI) Commerce and Industry Minister Piyush Goyal has directed the officers concerned to hold regular meetings with state governments and central ministries to ensure timely resolution of issues for the implementation of infrastructure projects. He said this while reviewing the pace of the implementation of infrastructure projects being monitored through the [...]
29 CBIC officers, staff get President’s awards
New Delhi, Jan 25 (PTI) A total of 29 officers/staff of the apex indirect tax body CBIC on Tuesday were given Presidential awards on the eve of Republic Day for their exemplary performance in their respective fields of duty. Every year, the officers and staff of the Central Board of Indirect Taxes and Customs (CBIC) [...]
CII calls for doing way with ceiling on service fee for EV charging
New Delhi, Jan 25 (PTI) Industry body CII in a report has suggested doing away with the ceiling on service fee for charging of electric vehicles, arguing that any cap at this juncture will disincentivise private investment due to uncertain costs and utilization levels. While the CII report welcomes the Union government's announcements on production [...]
Federal Bank shares jump over 4 pc after Q3 earnings
New Delhi, Jan 25 (PTI) Shares of Federal Bank on Tuesday jumped over 4 per cent after the company posted a 29 per cent rise in net profit for the third quarter ended December 2021.It gained 4.35 per cent to settle at Rs 95.85 on BSE. During the day, the stock jumped 6.26 per cent [...]
Food delivery startup RailRestro sees 50% decline in sales due to COVID surge
Kolkata, Jan 25 (PTI) RailRestro, a leading food delivery startup catering to train passengers, has witnessed a 50 per cent decline in sales, amid fresh COVID-hit turbulence in tour and travel activities, an official said on Tuesday Indian Railway Catering and Tourism Corporation (IRCTC)-authorised food partner has termed the present crisis as a "blip" and [...]
Torrent Pharma Q3 Results: Consolidated net profit drops 16% to Rs 249 cr
New Delhi, Jan 25 (PTI) Torrent Pharmaceuticals on Tuesday said its consolidated net profit declined by 16 per cent to Rs 249 crore for the third quarter ended December 2021 on account of muted performance in the US market. The drug maker had posted a net profit of Rs 297 crore in the October-December period [...]
Future Retail in SC to avert defaulter tag; independent directors reject Amazon brought offer
New Delhi, Jan 25 (PTI) Embattled retailer Future Retail Ltd (FRL) on Tuesday moved the Supreme Court to avert insolvency proceedings over missing a loan repayment deadline, even as its independent directors rejected an Amazon-supported offer to sell the company businesses at less than a third of what Mukesh Ambani's Reliance is offering. India's second-largest [...]
Volvo Group India seeks moderate taxation regime for auto sector
Mumbai, Jan 25 (PTI) Pitching for a more moderate taxation regime for the automobile sector in the forthcoming Union Budget, Volvo Group India on Tuesday stressed on the need for a careful and selective strategy on phased manufacturing programme in some areas to boost technology adoption. In its pre-budget expectation note, Volvo Group India President [...]
Govt should consider categorising EVs in priority lending sector: Omega Seiki Mobility
Mumbai, Jan 25 (PTI) Electric vehicle maker Omega Seiki Mobility (OSM) has said the government should consider categorising EVs in the priority lending sector to further strengthen the segment, besides export concessions, to help the manufacturers tap new markets. In its pre-Budget expectations, OSM also expressed hope that the Union Budget includes announcements related to [...]
Mahindra top brass promises urgent remedial action in farmer humiliation row
New Delhi, Jan 25 (PTI) Top brass of Mahindra & Mahindra Ltd on Tuesday promised urgent remedial action a day after it emerged that a farmer, who came to buy a pick-up truck of the company, was allegedly insulted by a sales staff at a showroom in Karnataka. A video of the incident that took [...]
2021 sees 22% jump in ad volumes after pandemic-hit 2020
Mumbai, Jan 25 (PTI) After getting impacted by the onset of COVID-19, television advertising bounced back in 2021, with a 22 per cent jump in the overall volumes at 1,824 million seconds, as per a report. When compared with the pre-pandemic 2019, the overall advertising volumes grew 18 per cent, the report by Broadcast Audience [...]
NBHM to help organise marginal beekeepers for dealing adulteration in honey: Govt official
New Delhi, Jan 25 (PTI) The National Beekeeping and Honey Mission (NBHM) will not only address infrastructure gaps in the honey-making business but also help marginal beekeepers organise together for dealing with the adulteration in honey, a senior agriculture ministry official said on Tuesday. Addressing a national conference, Abhilaksh Likhi, additional secretary in the agriculture [...]
Pearl Precision Rebrands itself as Sparsh Pearl
Pearl Precision has rebranded itself as Sparsh Pearl to further strengthen its position and cater to a wider market New Delhi, Delhi, India (NewsVoir) Seeking to reposition itself as a market leader in Sanitary Ware and Bathroom Accessories segments, the leading brand Pearl Precision Products (Pearl Precision) has kick-started a massive rebranding exercise. The company [...]
‘Rental income of 23 malls in 9 cities may fall 24 pc in Q4 to around Rs 300 cr due to COVID-19’
New Delhi, Jan 25 (PTI) Rental income of 23 shopping malls might decline 24 per cent to around Rs 300 crore during the January-March 2021 period as compared with the previous quarter due to the COVID-19 pandemic, according to rating agency ICRA. The estimate is based on the sample of 23 malls, covering 14.2 million [...]
Aditya Birla Sun Life AMC Q3 PAT up 27% to Rs 186 cr
Aditya Birla Sun Life AMC on Tuesday reported a 27 per cent jump in profit after tax to Rs 186.2 crore for the three-month period ended December 2021. The company had posted a profit after tax of Rs 146.8 crore in the same quarter of the preceding fiscal, the asset management firm said in a [...]
Bharti Airtel looking to onboard strategic investor through equity allocation: Sources
New Delhi, Jan 25 (PTI) Telecom operator Bharti Airtel is looking to onboard a strategic investor through allocation of preferential equity shares, which is scheduled to be discussed at its board meeting on January 28, according to sources. A source, who did not wish to be named, said the primary goal of the preferential share [...]
STL wins INR ~170 crore deal for building a Unified Network Management System for PGCIL
MUMBAI, India, Jan. 25, 2022 /PRNewswire/ -- STL(NSE: STLTECH), an industry-leading integrator of digital networks, announced a partnership with India's largest power distribution company, Power Grid Corporation of India Limited (PGCIL). Through this collaboration, STL will fulfil PGCIL's requirement for high performance, integrated network management systems across their regional communications networks. With this multi-year deal [...]
Chandigarh University ranks among the Top Universities of India in the field of Research and Innovation
• With a total of 1273 patents, CU emerges as Hub for Innovation third year in a row • CU's contribution for a better world: 658 patents directly cater to UN's Sustainable Development Goals CHANDIGARH, India, Jan. 25, 2022 /PRNewswire/ -- Chandigarh University has emerged amongst the top Higher Education Institutions of India in the [...]
Pidilite Industries Q3 results – Consolidated net profit falls 19.5% to Rs 359.2 cr
New Delhi, Jan 25 (PTI) Pidilite Industries, a leading manufacturer of adhesives, sealants and construction chemicals, on Tuesday reported a 19.5 per cent decline in its consolidated net profit to Rs 359.24 crore for the third quarter ended December 2021. The company had posted a Rs 446.43-crore profit in the corresponding period a year ago, [...]
Hyundai Creta tops SUV exports from India in 2021
New Delhi, Jan 25 (PTI) Hyundai Motor India on Tuesday said its model Creta has led the SUV exports from India in 2021 with dispatches of 32,799 units.Overseas shipments of the model grew 26.17 per cent year-on-year over 2020 when it had dispatched 25 995 units.In total, the automaker noted that it exported 42,238 SUVs [...]
Ex-UST head Sajan Pillai’s McLaren Ventures launches Rs 100-cr chip design co; to hire 100 techies soon
Mumbai, Jan 25 (PTI) McLaren Strategic Ventures (MSV), a startup focused-investment firm founded by Sajan Pillai, has launched a semiconductor design vertical Atlas Silicon in the country with planned investment of around Rs 100 crore. It plans to start hiring 100 engineers by March. The California-based McLaren Strategic Ventures is a business acceleration initiative launched [...]
Volvo Group India seeks moderate taxation regime for auto sector
Mumbai, Jan 25 (PTI) Pitching for a more moderate taxation regime for the automobile sector in the forthcoming Union Budget, Volvo Group India on Tuesday stressed on the need for a careful and selective strategy on phased manufacturing programme in some areas to boost technology adoption. In its pre-budget expectation note, Volvo Group India President [...]
IFB Home Appliances partners with Xeros Tech; launches new washing machines for institutional buyers
New Delhi, Jan 25 (PTI) Homegrown IFB Home Appliances on Tuesday said it has partnered with the UK-based Xeros Technologies to bring a new range of energy- and water-efficient washing machines targeting commercial and institutional buyers. As part of that, the Kolkata-based company will introduce Xeros-enabled washing machines that could save up to 70 per [...]
MUMBAI, JAN 25 (PTI)
MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 63853.00 63712.00 STANDARD GOLD (99.5) : 48689.00 48665.00 PURE GOLD (99.9) : 48885.00 48861.00 ------------------ PTI MUM SVC SVC SVC
Rupifi onboards Koovs Founder to head B2B Payments Innovation and Product Expansion
BANGALORE, India, Jan. 25, 2022 /PRNewswire/ -- Rupifi, India's leading B2B payments and transactions solutions provider, today announced the appointment of Rajesh Kamra as the Head of Innovation Labs to drive strategy and solutioning for B2B payment offerings for the MSME segment. An alumnus of IIT Kanpur, Rajesh comes with 15 years of experience in [...]
Welspun India joins global coalition to undertake climate action to mitigate GHG emissions
New Delhi, Jan 25 (PTI) Home textiles major Welspun India Ltd on Tuesday said it has joined the global coalition to undertake climate action aligned with Science Based Targets initiative (SBTi) of Net-Zero standard and Business Ambition for 1.5 degrees Celsius to mitigate greenhouse gas emissions. As part of the pledge, Welspun India will strive [...]
SBI Card shares jump over 4% post earnings announcement
New Delhi, Jan 25 (PTI) Shares of SBI Cards and Payment Services on Tuesday gained over 4 per cent after the firm reported an 84 per cent jump in net profit for December quarter 2021. The company's stock zoomed 4.90 per cent to Rs 854 during the day on the BSE. It settled at Rs [...]
Acuité Ratings & Research Limited Is Now Great Place to Work-Certified™
MUMBAI, India, Jan. 25, 2022 /PRNewswire/ -- Acuité Ratings & Research Ltd. (Acuité) has been awarded the prestigious Great Place to Work®-Certification Jan 2022 – Jan 2023 in India. This achievement signifies an important milestone in the organization's consistent efforts in building a work culture in line with their values of trust, innovation, and excellence [...]
Axis Bank shares jump nearly 7 pc on stellar Q3 results
New Delhi, Jan 25 (PTI) Shares of Axis Bank on Tuesday rallied nearly 7 per cent after the company reported a sharp three-fold jump in its consolidated net profit for the December quarter. The stock jumped 6.76 per cent to settle at Rs 751.95 on the BSE. During the day, it rallied 7.18 per cent [...]
Benchmarks halt 5-day rout as bargain hunters move in; Maruti spurts 7% post results
Mumbai, Jan 25 (PTI) Market benchmarks managed closed in the green on Tuesday after five sessions of steep losses as investors accumulated recently-battered banking, auto and FMCG counters amid a supportive trend in European equities. However, traders said the overall sentiment remains cautious ahead of a crucial two-day meeting of the US Federal Reserve where [...]
Dr Jane Goodall delivers an important message of hope at the 2022 Procter & Gamble AMA Sustainability Summit
The event saw participation from world-renowned Conservationist Dr. Jane Goodall, who shared how corporations can drive real change in the world. P&G announced progress toward its Ambition 2030 goals at its regional Sustainability Summit. SINGAPORE, Jan. 25, 2022 /PRNewswire/ -- Procter & Gamble (NYSE:PG) today announced that it hosted its 2022 Sustainability Summit for the [...]
Sebi notifies stricter norms for appointment of managing director at listed cos
New Delhi, Jan 25 (PTI) Putting in place stringent norms, Sebi has said that a person rejected by shareholders at a general meeting can be appointed or re-appointed as a managing director or whole time director or manager, only after providing detailed justifications and ensuring compliance with various conditions. "The appointment or a re-appointment of [...]
Fabric care industry to see strong growth as threat of pandemic still lingers: Report
New Delhi, Jan 25 (PTI) Indian consumers will continue to seek extra hygiene benefits from products including fabric care, as threat of the pandemic is still lingering, says a report. According to market intelligence firm Mintel's latest research, the coronavirus pandemic has heightened hygiene concerns, including in the fabric care sector. As many as 81 [...]
Best Agrolife Q3 Results: Profit jumps to Rs 15.5 cr; revenue at Rs 232 cr
New Delhi, Jan 25 (PTI) Agro-chemical firm Best Agrolife Ltd on Tuesday reported a sharp jump in its net profit to Rs 15.5 crore for the quarter ended in December. Its net profit stood at Rs 2.7 crore in the year-ago period. The company recorded revenue of Rs 232.5 crore in the third quarter of [...]
Why Bank Nifty and Bank Stocks are in green today?
Bank stocks opened high in early trade today and moved the benchmark indices upward. The NSE Nifty 50 went up by 60.10 points or 0.34% and the Sensex went up by 57,153.98 points or 0.28%. Results for Q3 2021 are being released and most banks have done well. While corrections are happening in the market [...]
AgroStar launches personal accident insurance cover for farmers
New Delhi, Jan 25 (PTI) Agri startup firm AgroStar on Tuesday said it has launched a personal accident insurance programme for farmers in collaboration with two companies. The insurance programme 'Kisan Raksha Kavach' has been introduced on the AgroStar App to provide financial protection to the farmers against uncertainties of accidental death [...]
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