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Stock backed by Govt. of Singapore jumps 4% after receiving approval for ₹12,000 Cr Residential Project

A real estate stock backed by the Government of Singapore experienced a 5% surge in trading on Tuesday following the announcement of a significant project approval. The company secured the Real Estate Regulatory Authority (RERA) approval for a new development project with an estimated Gross Development Value (GDV) of Rs.9,000 crore.  Price Movement During Wednesday’s [...]

Textile stock skyrockets 13% after company’s net profit increases by 52% YoY

The shares of the textile company, one of the largest women's bottom-wear brands in India, jumped up to 13 percent after announcing its Q4 results, which showed a 52 percent year-on-year (YoY) increase in profit. Price action With a market capitalization of Rs. 4,255.91 crores on Wednesday, the shares of Go Fashion (India) Ltd jumped [...]

Fertilizer stock jumps after reporting 253% YoY increase in net profits

During Wednesday’s trading session, the shares of India’s leading agri-solutions provider offering diverse products and services across the farming value chain are in focus on the stock exchanges, after reporting Q4 FY25 financial results with a rise in net profit by around 14 percent QoQ and 253 percent YoY. Price Movements With a market capitalisation [...]

EV stock crashes after announcing its Q4 results

During Wednesday’s trading session, the shares of a company primarily engaged in the manufacturing of storage batteries moved down by nearly 5 percent on BSE, after the company reported financial results for Q4 FY25. Price Movements With a market capitalisation of Rs. 30,022 crores, at 03:17 p.m., the shares of Exide Industries Limited were trading [...]

Solar stock jumps 6% after receiving order worth ₹50 Cr for solar power plant

During Wednesday’s trading session, the price of a solar equipment manufacturing company surged up to 6% intraday after securing an order worth 50.52 crore from Braithwaite & CO. Limited Price movement With a market capitalization of Rs. 414.5 crores, on Wednesday, the shares of GP Eco Solutions India Ltd were trading up by close to [...]

Auto ancillaries stock in focus after company to invest ₹423 Cr for EV Powertrain Project

The share of the Auto Ancillaries - Electrical company recovered 3 percent from its day low after announcing a joint venture manufacturing of High Voltage EV powertrain products. Price Movements With the market capitalization of Rs 51,680 Crores, the share of Uno Minda Ltd is up by 0.99 percent compared to the previous close of [...]

When will Nifty 50 hit 25,000 and Bank Nifty break 56,000? Here’s everything you need to know

The Indian stock market has experienced a significant rally recently, with the Nifty 50 and Bank Nifty showing considerable consolidation now. As global and domestic market conditions continue to evolve, investors and traders are left wondering whether the Nifty 50 can climb above 25,000 and if the Bank Nifty can surpass 56,000 during this sideways [...]
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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 [...]
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Oct 12, 2024

₹430 to ₹14,136: Pharma stock turns ₹10,000 to ₹3.29 Lakhs in just 5 years

Editor's Pick, News

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 [...]

Oct 12, 2024

Latest Market News

Vignan (Deemed-to-be-University) forays into ed-tech space; launches Vignan Online

- Shri. Audimulapu Suresh, Hon'ble Minister of Education and Human Resource Department, Government of Andhra Pradesh to launch Vignan Online -The e-learning arm of Vignan will cater to the evolving demand of ed-tech among new-age learners across the country -Offers AICTE and UGC-DEB approved degree and master's degree programmes with electives GUNTUR, India, Jan. 21, [...]

Govt extends HLL Lifecare bid submission deadline till Feb 28

New Delhi, Jan 21 (PTI) The government has extended the deadline by about a month till February 28 for prospective buyers to submit the expression of interest (EoI) for strategic sale-bound HLL Lifecare. The Department of Investment and Public Asset Management (DIPAM) had on December 14 invited preliminary bids for selling the government's 100 per [...]

JSW Steel Q3 net profit jumps 69% to Rs 4,516 cr

New Delhi, Jan 21 (PTI) JSW Steel on Friday posted a 69 per cent jump in consolidated net profit to Rs 4,516 crore for the quarter ended December 31, mainly on account of higher income. The firm had clocked a net profit of Rs 2,669 crore in the year-ago period, it said in a regulatory [...]

T-Systems Names Anant Padmanabhan as Managing Director

• Anant, in his new role, will manage T-Systems' international operations in India and, help accelerate the growth of its digital and cloud capabilities. • With experience of over 25 years in the global IT industry, Anant is perfectly positioned to lead the company to its next phase of its digital journey. PUNE, India, Jan. [...]

Sensex tumbles 427 pts; Nifty retains 17,600

Mumbai, Jan 21 (PTI) Extending its losses for the fourth straight session, equity benchmark Sensex slumped 427 points on Friday, tracking weakness in Bajaj Finserv, L&T and Infosys amid a widespread sell-off in global markets. Relentless foreign fund outflows further weighed on the bourses, traders said. The 30-share BSE index ended 427.44 points or 0.72 [...]

SBI Life Q3 profit jumps 56% to Rs 364 crore

New Delhi, Jan 21 (PTI) SBI Life Insurance on Friday reported a 56 per cent rise in net profit at Rs 364 crore for the third quarter ended December. The private sector insurer's profit stood at Rs 233 crore in the same quarter of the previous fiscal, according to a regulatory filing. However, total income [...]

Rupee rises 8 paise to close at 74.43 against US dollar

Mumbai, Jan 21 (PTI) The rupee advanced by 8 paise to close at 74.43 (provisional) against the US dollar on Friday on the back of easing crude oil prices and dollar selling by banks and exporters. However, the rupee's further recovery was restricted by continuous foreign fund outflows and sell-offs in domestic equities, analysts said. [...]

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JSW Steel Q3 consolidated net profit jumps to Rs 4,516 cr, from Rs 2,669 cr a year ago. PTI ABI ABM ABM

FedEx Express commences electric vehicle trials in India

Mumbai, Jan 21 (PTI) FedEx Express, a subsidiary of leading global express transportation company FedEx Corp, on Friday announced the commencement of electric vehicle (EV) trials in India with Bengaluru to begin with, as part of its global goal to achieve carbon-neutral operations by 2040. The trial, which is expected to conclude within a month in [...]

India smartphone market logs 169 mn units shipment in 2021, highest till date: Counterpoint

New Delhi, Jan 21 (PTI) India's smartphone market registered its highest-ever shipments at 169 million units in 2021, according to a report by Counterpoint Research. Preliminary data from Counterpoint Research's Market Monitor service said India's smartphone shipments crossed 169 million units in 2021 to register 11 per cent year-on-year growth from about 152 million units [...]

Cadila re-appoints Sharvil P Patel as MD for another five-year term

New Delhi, Jan 21 (PTI) Cadila Healthcare on Friday said it has re-appointed Sharvil P Patel as Managing Director of the company for a period of five years with effect from April 1, 2022. The company's board based on the recommendation of the nomination and remuneration committee and subject to approval of the members of the [...]

KOLKATA BULLION CLOSING

Kolkata, Jan.21(PTI): SILVER RDY.(BAR) : Rs.65,300.00(64,600) Per Kg.SILVER RDY.(PORTION) : Rs.65,400.00(64,700) Per Kg.GOLD (24-CARAT) RDY. : Rs.49,200.00(49,300) Per 10 Gms GOLD (22-CARAT) RDY. : Rs.46,700.00(46,800) Per 10 Gms.HALLMARKED GOLD(22-CT) RDY. : Rs.47,400.00(47,500) Per 10 Gms. ---- PTI SAM

AIGF, Arthur D Little launch independent compliance audit for gaming companies

New Delhi, Jan 21 (PTI) The All India Gaming Federation (AIGF) and its skill games compliance partner Arthur D Little (ADL) on Friday announced the launch of an independent compliance audit in a bid to further strengthen the self-regulatory process for industry players. The online skill gaming industry currently abides by a self-regulatory model which [...]

Jyothy Labs posts 29% drop in Q3 net profit at Rs 38 cr

New Delhi, Jan 21 (PTI) FMCG firm Jyothy Labs Ltd on Friday reported a 28.57 per cent decline in consolidated net profit at Rs 38.02 crore in the third quarter ended December 31, 2021 on account of higher expenses. The company had posted a consolidated net profit of Rs 53.23 crore in the same period [...]

HDFC Life Q3 profit rises to Rs 274 crore

New Delhi, Jan 21 (PTI) HDFC Life on Friday reported a 3 per cent increase in net profit to Rs 273.65 crore for the third quarter ended December. The private sector insurer's profit stood at Rs 264.99 crore in the same quarter of the previous fiscal, HDFC Life said in a regulatory filing. However, total [...]

Nickel futures rise on firm spot demand

New Delhi, Jan 21 (PTI) Nickel prices increased by 0.37 per cent to Rs 1,796.50 per kg in futures trade on Friday, as speculators built up fresh positions amid rising demand from alloy makers in the spot market.On the Multi Commodity Exchange, nickel contracts for the January delivery gained Rs 6.70, or 0.37 per cent, [...]

IDBI Bank Q3 net profit surges 53% to Rs 578 cr

New Delhi, Jan 21 (PTI) Life Insurance Corporation (LIC)-promoted IDBI Bank on Friday reported a 53 per cent jump in standalone net profit at Rs 578 crore for the third quarter ended December. The lender had reported a standalone net profit of Rs 378 crore in the October-December quarter of the previous year. However, total [...]

Coriander futures rise on spot demand

New Delhi, Jan 21 (PTI) Coriander prices on Friday rose Rs 28 to Rs 10,066 per quintal in the futures trade as speculators widened their holdings tracking firm trend in the spot market. On the National Commodity and Derivatives Exchange, coriander for the April delivery gained Rs 28, or 0.28 per cent, to Rs 10,066 [...]

Guar seed futures decline on low demand

New Delhi, Jan 21 (PTI) Guar seed prices on Friday declined by Rs 19 to Rs 6,390 per 10 quintals in the futures trade. On the National Commodity and Derivatives Exchange, guar seed contracts for the February delivery was trading down by Rs 19, or 0.30 per cent, at Rs 6,390 per 10 quintals with [...]

Guar gum futures fall on low demand

New Delhi, Jan 21 (PTI) Guar gum prices on Friday fell Rs 67 to Rs 11,999 per five quintal in the futures market as traders offloaded their holdings in line with weak trend in spot market. On the National Commodity and Derivatives Exchange, guar gum for the February delivery declined by Rs 67, or 0.56 [...]

Zentiva awarded Top Employer accolade

PRAGUE, Jan. 21, 2022 /PRNewswire/ -- The Top Employee Institute has certified Zentiva as a Top Employer. This prestigious award was received for Zentiva's exceptional standards across 6 Human Resources-domains in its home countries the Czech Republic and Romania. The assessment was covering 20 topics including People Strategy, Work Environment, Talent Acquisition, Learning, Well-being, Diversity [...]

Cottonseed oil futures fall on soft demand

New Delhi, Jan 21 (PTI) Cottonseed oil cake prices on Friday declined by Rs 90 to Rs 3,145 per quintal in futures trade as participants reduced their bets tracking a weak trend in spot market. Analysts said sell-off by participants at existing levels amid subdued trend in market mainly weighed on cottonseed oil cake prices. [...]

ET Money Introduces New Brand Identity; Adds Personalization to India’s Investments

Launches ET Money Genius – A one of its kind membership service that will deliver personalized investing intelligence New Delhi, Delhi, India – Business Wire India ET Money, one of India’s fastest growing investment and wealth management platforms, today launched ET Money Genius, one of its kind membership service that will deliver personalized investing intelligence. [...]

Zinc futures slip on muted demand

New Delhi, Jan 21 (PTI) Zinc prices on Friday fell 0.52 per cent to Rs 298.65 per kg in the futures trade, as speculators reduced their exposure on negative cues from the spot market. On the Multi Commodity Exchange, zinc contracts for the January delivery traded lower by Rs 1.55, or 0.52 per cent, to [...]

CGI supports Karnataka Government to strengthen their COVID Care Centre in Bengaluru

Donates Oxygen Generation Plant and Intensive Care Unit beds to Mahalakshmi Layout COVID Care Centre BENGALURU, India, Jan. 21, 2022 /PRNewswire/ -- CGI (NYSE: GIB) (TSX: GIB.A) partners with Oasis Foundation, a non-governmental organisation (NGO) to support and strengthen the healthcare infrastructure at the COVID Care Centre (CCC) in Mahalakshmi Layout, Bengaluru. To combat the [...]

Copper futures decline on tepid spot demand

New Delhi, Jan 21 (PTI) Copper prices on Friday declined 0.67 per cent to Rs 760.70 per kg in the futures trade, as participants trimmed their bets amid a weak trend in the domestic market.On the Multi Commodity Exchange, copper for delivery in February was trading lower by Rs 5.15, or 0.67 per cent, to [...]

EdelGive Foundation’s GROW Fund Announces its Cohort of 100 NGO Grantees

New Delhi, Delhi, India – Business Wire India In a first-of-its-kind opportunity, 100 NGOs doing critical and credible social impact work across the nation have been selected to receive grants from the GROW Fund, which is anchored by EdelGive Foundation along with several reputed funding partners. Every NGO, chosen to be a part of the [...]

India aiming at USD 500 billion exports for FY23: DGFT official

Kolkata, Jan 21 (PTI) India has set up a target of USD 500 billion exports for the 2022-23 fiscal, a top government official said on Friday, contending that the COVID-19 pandemic has taught the country to “reimagine” world trade. In December 2021, exports stood at USD 37.8 billion, the highest-ever for any month, Additional DGFT [...]

Crude oil futures dip on weak demand

New Delhi, Jan 21 (PTI) Crude oil prices on Friday fell by Rs 100 to Rs 6,297 per barrel after participants cut their positions.On the Multi Commodity Exchange, crude oil for the February delivery dropped by Rs 100, or 1.56 per cent, to Rs 6,297 per barrel with a business volume of 8,770 lots.Analysts said [...]

Gold futures rise on firm demand

New Delhi, Jan 21 (PTI) Gold prices on Friday rose Rs 30 to Rs 48,410 per 10 gram in the futures trade as speculators created fresh positions amid a firm spot demand.On the Multi Commodity Exchange, gold contracts for the February delivery traded higher by Rs 30, or 0.06 per cent, to Rs 48,410 per [...]

Silver futures drop on subdued demand

New Delhi, Jan 21 (PTI) Silver futures on Friday eased by Rs 138 to Rs 65,241 per kg as participants reduced their bets on low demand.On the Multi Commodity Exchange, silver contracts for the March delivery declined Rs 138, or 0.21 per cent, to Rs 65,241 per kg in a business turnover of 7,886 lots.The [...]

BGE-COMML-VEGETABLES

Bengaluru, Jan 21 (PTI) Following are Friday's vegetable prices quoted at the Agriculture Produce Marketing Committee (APMC) with rates given per quintal: Cauliflower 500-3500, Brinjal 180-3300, Tomato 250-5000, Bitter Gourd 2000-3600, Bottle Gourd 300-2000, Ash Gourd 1000-1600, Green Chillies 300-7800, Banana Green 1000-3500, Beans 100-5000, Green Ginger 1000-4000, Carrot 3000-8500, Cabbage 300-4000, Ladies Finger 250-5000, [...]

Households free to install rooftop solar panel by any vendor under govt scheme: MNRE

New Delhi, Jan 21 (PTI) The Ministry of New & Renewable Energy on Friday said households are free to get rooftop solar panel installed by themselves or by any vendor of their choice and a photograph of the installed system for distribution utility is sufficient to avail benefits or subsidy under the government scheme.Earlier under [...]

Govt taking significant steps to boost startup ecosystem: Goyal

New Delhi, Jan 21 (PTI) The government is taking significant steps such as resolving the angel tax issue, simplification of tax procedures, and self-certification, in a bid to boost the startup ecosystem of the country, Commerce and Industry Minister Piyush Goyal said on Friday. He also said that huge opportunities are there for startups in [...]

Skoda Auto India starts production of Slavia from Pune plant

New Delhi, Jan 21 (PTI) Skoda Auto India on Friday said it has started production of its premium mid-size sedan Slavia from its plant at Chakan in Pune.The car, which will hit the market in the first quarter of 2022, has two petrol engine options of 1.0 litre 3-cylinder turbo and a 1.5-litre 4-cylinder turbo [...]

Households free to install rooftop solar by any vendor under govt scheme: MNRE

New Delhi, Jan 21 (PTI) The Ministry of New & Renewable Energy on Friday said households are free to get rooftop solar installed by themselves or by any vendor of their choice and a photograph of the installed system for distribution utility is sufficient to avail benefits or subsidy under the government scheme.Earlier under the [...]

MUMBAI, JAN 21 (PTI) FOLLOWING ARE THE DIRECT RATES OF

EXCHANGE (DPE ) AS ANNOUNCED BY THE STATE BANK OF INDIA HERE TODAY. ( ALL RATES IN RUPEES PER UNIT ).CURRENCY TTBUY TTSEL BILLBUY TTSEL CODEUSD/INR 73.77 75.27 73.71 75.43 EUR/INR 82.99 85.86 82.92 86.03 GBP/INR 99.74 102.95 99.66 103.15 JPY/INR 64.42 66.62 64.37 66.75 CHF/INR 79.92 82.95 79.86 83.12 AUD/INR 52.56 54.77 52.52 54.88 [...]

KOLKATA BULLION OPENING

Kolkata, Jan.21(PTI): SILVER RDY.(BAR) : Rs.64,600.00 Per Kg.SILVER RDY.(PORTION) : Rs.64,700.00 Per Kg.GOLD (24-CARAT) RDY. : Rs.49,300.00 Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.46,800.00 Per 10 Gms.HALLMARKED GOLD (22-CT) RDY.: Rs.47,500.00 Per 10 Gms. ---- PTI SAM

Nexzu Mobility unveils e-cycle Bazinga priced at Rs 49,445

Mumbai, Jan 21 (PTI) Pune-based EV maker Nexzu Mobility has expanded its e-cycle range with the unveiling of 'Bazinga,' the commuter segment bike, priced at Rs 49,445. The cargo version of the e-bike has, however, been priced at Rs 51,525, the company said on Friday. The Bazinga brand of bikes are slated for launch next [...]

MUMBAI, JAN 21 (PTI)

OPENING RATES SILVER SPOT (IN RS PER KILO): 65202.00 STANDARD GOLD (99.5) : 48589.00 PURE GOLD (99.9) : 48784.00 CALCUTTA BULLION :- N/A.-------- PTI MUM SVC SVC SVC

RBI-MONEY MARKET OPERATIONS

MUMBAI, JAN 21(PTI) Money Market Operations as on JAN 20, 2022 (Amount in ? crore, Rate in Per cent) Volume (One Leg) Weighted Average Rate Range A. Overnight Segment 4,66,711.82 4.23 2.00-6.15 I. Call Money 8,966.32 3.99 2.10-4.65 II. Triparty Repo 3,49,420.55 4.22 3.90-4.45 III. Market Repo 1,08,249.95 4.25 2.00-4.65 IV. Repo in Corporate Bond [...]

Get Ready for the Short Video App for the Creator – Jai Bheem App on 26th January

January 21: A country with more than a billion population is bound to have millions of content creators. And despite the dedicated industry's such as Bollywood and other regional industry's booming big time recently, many are still waiting for that one chance. Jai Bheem App is about to take care of that chance from this [...]

ABB India turns its Nelamangala Campus ‘water positive’

• Total annual rainwater harvesting potential of more than 200 million liters • The campus has achieved close to 85% water recyclability • Water positivity index is 1.24 BENGALURU, India, Jan. 21, 2022 /PRNewswire/ -- ABB India today announced that its Nelamangala unit has received a 'Water Positive' certification from The Energy and Resources Institute [...]

Alchemy Capital Management plans to raise Rs 500-cr from new AIF

New Delhi, Jan 21 (PTI) Leading portfolio management firm Alchemy Capital Management on Friday announced the launch of a new Alternative Investment Fund (AIF), which will invest in emerging companies.The closed ended new fund -- Alchemy Leaders of Tomorrow -- Series 2 targets to raise around Rs 500 crore, the company said in a statement.The [...]

RattanIndia Power consolidated net loss widens to Rs 386.69 cr in Dec qtr

New Delhi, Jan 21 (PTI) RattanIndia Power Ltd (RPL) consolidated net loss widened to Rs 386.69 crore in the December quarter, compared to the same period a year ago, due non-operation of Nashik thermal power plant. The company had reported a consolidated net loss of Rs 69.09 crore in the quarter ended on December 31, [...]

Tata Motors launches latest range of passenger vehicles in Bhutan

New Delhi, Jan 21 (PTI) Tata Motors on Friday said it has launched its latest range of passenger vehicles in Bhutan.The company said it has launched the product range in association with Samden Vehicles, an authorised distributor of passenger vehicles in Bhutan.Tata Motors will retail the new generation Tiago, Tigor, Altroz, Nexon, Harrier and flagship [...]

Modair sets up tech-enabled air logistics firm

Mumbai, Jan 21 (PTI) Aviation firm Modair said on Friday it has set up a tech-enabled air logistics company Modair Express to cater to the cargo market, connecting Tier-II and Tier -III towns with the key cities across the country.Making same day delivery feasible, the newly launched company is a multi-phased project to ensure maximum [...]

Startup Toothsi raises USD 9 mn in funding from Stride Ventures, others

New Delhi, Jan 21 (PTI) Clinical beauty tech startup Toothsi on Friday said it has raised USD 9 million (over Rs 65 crore) in a debt funding round led by Stride Ventures.The company, which offers at-home smile makeover services, such as dental alignment, said it plans to invest in technological advancements, geographical expansion and brand [...]

Trident Limited Q3 results: 88% jump in profit after tax

Trident Limited reported a PAT of Rs. 211.09 crores, a total income of Rs 1983.65 crores and  Rs. 1,157.73 crore as expenses in the December quarter.Trident Global Corp Ltd(TGCL) has issued 2,81,850 9% compulsorily convertible debentures to the promoter and promoter group of the company, Trident said. In a regulatory filing, Trident Ltd’s said that [...]

Madhavbaug’s book ‘Live without Diabetes’ launched by Hon. Finance Minister (State) Dr. Bhagwat Karad

MUMBAI, India, Jan. 21, 2022 /PRNewswire/ -- On 16th January 2022, Madhavbaug (Vaidya Sane Ayurved Laboratories, Ltd.) launched its book 'Live without Diabetes' at the auspicious hands of hon. Finance Minister Dr. Bhagwat Karad. Speaking on the occasion, Madhavbaug's Patient Improvement Head Dr. Pravin Ghadigaonkar said, "No one wants to live with diabetes and its [...]

Laurus Labs inks pact with MPP to produce molnupiravir

New Delhi, Jan 21 (PTI) Drug firm Laurus Labs on Friday said it has inked a pact with Geneva-based MPP (Medicine Patient Pool) for manufacturing the oral COVID-19 antiviral medication molnupiravir. "We are happy to sign an agreement to manufacture the oral COVID-19 antirviral medication, which is an urgent need of the hour, this is [...]

Shoppers Stop jumps over 17% to hit 52-week high on strong Dec quarter

New Delhi, Jan 21 (PTI) Shares of Shoppers Stop defied the broader market trend and surged over 17 per cent in morning trade on Friday after the retail chain posted strong earnings for the December 2021 quarter. On the BSE, the stock opened at Rs 390.70, then jumped 17.58 per cent and touched its 52-week [...]

‘Isolation’ not mandatory for foreign arrivals testing COVID positive: Authorities

New Delhi, Jan 21 (PTI) Travellers arriving in India from any country who will test positive for COVID-19 shall be treated/isolated as per the laid down standard protocol and will not mandatorily be managed at an isolation facility, authorities have said. According to the revised ‘Guidelines for International Arrivals’ released on Thursday, the new norm [...]

Rupee trades in a narrow range in early session against US dollar

Mumbai, Jan 21 (PTI) The Indian rupee was trading in a narrow range in morning trade on Friday as muted domestic equities and sustained foreign fund outflows negated the impact of easing crude oil prices.At the interbank foreign exchange, the rupee opened at 74.50 against the American dollar, then inched higher to 74.48. The local [...]

Sensex tanks nearly 700 pts in early trade; Nifty dips below 17,600

Mumbai, Jan 21 (PTI) Equity benchmark Sensex slumped nearly 700 points in opening trade on Friday, tracking intense selling pressure across the counters amid a negative trend in global markets and sustained foreign fund outflow. The BSE gauge was trading 690.51 points or 1.16 per cent lower at 58,774.11 in early trade. Likewise, the Nifty [...]

Adani Wilmar to hit capital mkt with Rs 3,600 crore-IPO on Jan 27

Edible oil major Adani Wilmar will hit the capital market on January 27 to raise up to Rs 3,600 crore through an Initial Public Offer (IPO). Adani Wilmar, which sells its cooking oils and some other food products under Fortuna brand, has cut the size of its initial share sale to Rs 3,600 crore from the Rs [...]

Business Schedule for Friday, Jan 21

DELHI: * Fisheries Minister Parshottam Rupala at CII's digital Conference on Fisheries and Aquaculture (1000 hrs) * PFRDA Chairperson Supratim Bandyopadhyay at 'Know Your Regulator' forum (1800 hrs) * HDFC Life Insurance Company Ltd Q3 results media call (1630 hrs) * TRAI Chairman, DoT Secretary, others at webinar on 'Robust Digital Infrastructure' (1600 hrs) * [...]

Guild Esports Signs Exclusive £4.5m Sponsorship Deal with Bitstamp

Guild is pleased to welcome Bitstamp as the Company's exclusive Official Cryptocurrency Exchange partner on a three-year global deal for £4.5 million. GLASGOW, Scotland, Jan. 20, 2022 /PRNewswire/ -- Guild Esports (LSE: GILD) (OTCQB: GULDF), a global teams organisation and lifestyle brand, is pleased to welcome Bitstamp, one of the world's longest-running crypto exchanges, as [...]

Finance Ministry eases expenditure norms to spur spending in last quarter

New Delhi, Jan 20 (PTI) In a bid to spur capital expenditure, the Finance Ministry has relaxed spending norms for the fourth quarter with a view to boost economic activities slowed down due to the impact of COVID-19. As per the existing guidelines, more than 33 per cent and 15 per cent of the budget [...]

Work resumes on Dasu Hydropower Project built by Chinese company in Pakistan

Islamabad, Jan 20 (PTI) The stalled work on a major hydroelectric project constructed by a Chinese company in Pakistan has resumed, days after Islamabad agreed to pay compensation to 36 Chinese nationals who either died or were injured in a terrorist attack in the restive Khyber Pakhtunkhwa Province last year. On July 13 last year, [...]

Pak registers 5.3% growth in 2020-21: minister

Islamabad, Jan 20 (PTI) Pakistan on Thursday again revised its economic growth rate for 2020-21, this time from 3.9 per cent to 5.37 per cent.This is the second time the GDP rate for 2020-21 has been revised, from an initial 2.3 per cent set in the 2020 annual budget to 3.9 per cent later.Planning and [...]

Lot needs to be done to make global trade fit for future: WTO chief

New Delhi/Davos, Jan 20 (PTI) World Trade Organization (WTO) chief Ngozi Okonjo-Iweala on Thursday said a lot of work needs to be done to tackle the challenges facing global trading systems and supply chains, as she asserted that the future of trade is going to be digital and green. Speaking at a special session at [...]

NCLAT directs Jalan-Kalrock consortium to share resolution plan details with Jet Airways workmen

New Delhi, Jan 20 (PTI) The National Company Law Appellate Tribunal (NCLAT) on Thursday directed the Kalrock-Jalan consortium, the winning bidder for bankrupt Jet Airways, to share portions of the resolution plan pertaining to claims of employees with the airline's workmen.   The Association of Aggrieved Workmen of Jet Airways (India) Ltd had sought a copy [...]

Mphasis Q3 Results – Net Profit up 9.8% to Rs 357.6 cr

New Delhi, Jan 20 (PTI) IT firm Mphasis on Thursday reported a 9.8 per cent increase in consolidated net profit at Rs 357.6 crore for the December 2021 quarter. The company's net profit stood at Rs 325.5 crore in the year-ago period, Mphasis said in a regulatory filing. Adjusted for M&A charges, net profit grew [...]

Amazon writes to FRL’s independent directors; reiterates willingness to assist retailer

New Delhi, Jan 20 (PTI) Amazon has written to the independent directors of Future Retail Ltd (FRL) saying any sale of small format stores by the company without the consent of the US e-commerce giant would be in violation of injunctions, and reiterated its willingness to assist the cash-strapped retailer in addressing financial concerns. In [...]

Urban Company says partners’ monthly net earnings grew 11% in Dec quarter

New Delhi, Jan 20 (PTI) On-demand home services provider Urban Company on Thursday said its partners' net earnings grew 11 per cent in the December quarter compared to the preceding three-month period, with partners earning an average of Rs 297 per hour net of commissions and fees. In its UC Earnings Index for the third [...]

Kotak Bank signs MoU with GIFT SEZ for boosting financial services ecosystem at IFSC

New Delhi, Jan 20 (PTI) Kotak Mahindra Bank (KMB) on Thursday signed a Memorandum of Understanding (MoU) with GIFT SEZ Limited (GIFT SEZ) for boosting financial services ecosystem at International Financial Services Centre (IFSC) at Gandhinagar. This will enable both to work together towards greater enhancement of the financial services ecosystem in GIFT IFSC for [...]

Shoppers Stop Q3 net profit at Rs 77.32 cr; sales up 33.82% at Rs 95,811 cr

New Delhi, Jan 20 (PTI) Retail chain Shoppers Stop Ltd on Thursday reported a consolidated net profit of Rs 77.32 crore for the third quarter ended December 2021.     The company had posted a net loss of Rs 25.11 crore in the October-December quarter a year ago, said Shoppers Stop in a regulatory filing.     [...]

Icra revises AUM growth outlook for retail NBFCs to 5-7% from 8-10% in FY22

Mumbai, Jan 20 (PTI) Domestic rating agency Icra Ratings Thursday revised the asset under management (AUM) growth outlook of retail non-banking financial companies (NBFCs) to 5-7 per cent for the fiscal 2022 from an earlier expectation of 8-10 per cent. In the first half of FY2022, retail NBFCs grew by less than one per cent. [...]

G20 to play key role in development of global health infra: Indonesia President

New Delhi/Davos, Jan 20 (PTI) With his country holding the G20 presidency this year, Indonesian President Joko Widodo on Thursday said the world needs more resilient health infrastructure to face future threats and the block of 20 leading economies has an important role to play in the development of resources to meet this goal. In [...]

Domestic auto components industry to see 15-17 pc revenue growth this fiscal: Report

Mumbai, Jan 20 (PTI) The domestic auto components industry is expected to see a revenue growth of 15-17 per cent this fiscal and 10-12 per cent in the next financial year on the back of recovery in automobile sales after having remained subdued in the last couple of years, according to a report. Brickwork Ratings [...]

Biophore India receives licences from MPP to market molnupiravir

New Delhi, Jan 20 (PTI) Biophore India Pharmaceuticals on Thursday said it has received licences from Medicines Patent Pool (MPP) on behalf of originator company MSD to manufacture and market molnupiravir for treatment of COVID-19 and will launch in India next week priced at Rs 1,500 for a pack of 40 capsules. The licences are [...]

Stader Labs nets $12.5 mln led by Three Arrows Capital, others

Mumbai, Jan 20 (PTI) Stader Labs has raised USD 12.5 million (over Rs 92 crore) in a strategic private sale that values the company at up to USD 450 million. The Bengaluru-based startup is a non-custodial, smart contract-based staking platform that helps retail and institutions discover and access staking solutions, which can be leveraged for [...]

Walmart invites Indian sellers to join its US marketplace

New Delhi, Jan 20 (PTI) Retail giant Walmart on Thursday said it is inviting select Indian sellers to join Walmart Marketplace, a curated sellers community that serves more than 120 million US shoppers each month. India is already one of the top sourcing markets for Walmart and the retail major has set an ambitious goal [...]

Business briefs

*NTT appoints Avinash Joshi as India CEO; Sharad Sanghi elevated as MD of NTT Group India Mumbai, Jan 20 (PTI) Japanese technology major NTT has appointed Avinash Joshi as its India chief executive and elevated the incumbent Sharad Sanghi as the group managing director of NTT India.Joshi will be responsible for end-to-end go-to-market, sales, delivery, [...]

Business briefs

*KFin Technologies launches its new brand identity       New Delhi, Jan 20 (PTI) KFin Technologies, a leading SaaS company, on Thursday announced the launch of its new corporate brand identity.     The new brand identity has been indigenously designed to symbolise KFintech's transformation and evolution as a company with foundational tenets of trust, technology [...]

Business highlights

New Delhi, Jan 20 (PTI) Following are the top business stories at 2100 hours: DEL65 BIZ-VIRUS-SPUTNIK-OMICRON Two doses of Sputnik provide two times higher antibodies against Omicron than Pfizer vaccine: Study New Delhi: A study has found that two doses of Sputnik V provide two times higher virus neutralising antibodies against the Omicron variant of [...]

AGS Transact Technologies IPO gets 1.42 times subscription on second day of offer

New Delhi, Jan 20 (PTI) The initial public offering of AGS Transact Technologies got subscribed 1.42 times on Thursday, the second day of the offer. This is the first Initial Public Offering (IPO) in 2022. The categories for Retail Individual Investors (RIIs) and for Non Institutional Investors have been oversubscribed. The payment solutions provider has [...]

67% of Karnataka-based companies favour phased rollout of Labour Codes: Survey

New Delhi, Jan 20 (PTI) About 67 per cent of the industry prefers a phased rollout of Labour Codes for better preparation and ease of implementation, according to a survey conducted on over 133 companies in Karnataka, many of which have national operations. The survey was done by Karnataka Employers' Association (KEA) and employment law [...]

Excise collections in FY22 expected to exceed last fiscal’s target by Rs 300 cr in J&K: ACS

Jammu, Jan 20 (PTI) The excise collection during the current fiscal year is expected to exceed the last year's target by Rs 300 crore, Additional Chief Secretary Finance Atal Dulloo said on Thursday. He made this observation while reviewing the functioning of the finance department in which other senior officers of the department were present [...]

Govt waives duty on goods imported by AIFF for organising AFC Women’s Asian Cup

New Delhi, Jan 20 (PTI) The government has exempted from customs duty and Integrated GST the import of certain goods by the All India Football Federation for the purpose of organising the AFC Women's Asian Cup in the country. The goods which have been exempted from duty include Kelme referee kits, ball boy uniforms and [...]

Jio, Finland’s University of Oulu sign agreement for collaboration on 6G technology

New Delhi, Jan 20 (PTI) Jio's Estonia arm and Finland-based University of Oulu have signed an agreement to collaborate for development of 6G technology as well as to foster entrepreneurship. The collaboration with the university is expected to extend Jio's 5G capabilities and will help explore use cases in the 6G era. Jio Platforms is [...]

Institutional investments in real estate falls 81% to $670 mln in Dec qtr

New Delhi, Jan 20 (PTI) Institutional investments in real estate fell 81 per cent at USD 670 million during the December quarter because of lower inflow in office assets, according to JLL India.Institutional investments in 2021 (calendar year) fell 14 per cent to USD 4.32 billion, JLL India said in its 'Capital Markets Update Q4 [...]

Nestle says Kitkat wrappers with Lord Jagannath pics ‘already withdrawn’

New Delhi, Jan 20 (PTI) Facing flak on social media, Nestle India on Thursday said it has "already withdrawn" from the market packs of its popular chocolate brand Kitkat which depicted images of Lord Jagannath, Balabhadra and Mata Subhadra on wrappers, and also expressed regret over the incident. Nestle India, the Indian subsidiary of the [...]

Gadkari calls for attracting more foreign investments into MSME sector

New Delhi, Jan 20 (PTI) Union minister Nitin Gadkari on Thursday emphasised the need for attracting more foreign investments into the MSME sector as such entities are giving excellent viability and income to investors. Speaking at a virtual international conference organised by the chartered accountants' apex body ICAI, the minister also urged chartered accountants to [...]

Greater interaction among govt, academia, industry needed: NITI Aayog vice-chairman

Hyderabad, Jan 20 (PTI): NITI Aayog Vice-Chairman Rajiv Kumar on Thursday stressed the need for far more and far bigger interaction among the government, the academia and the industry. Addressing on virtual mode a session on ‘Higher Education Dialogue’ on the theme - 'Revisiting Higher Education in India: Global, Local and Digital Imperatives' organised by [...]

Global unemployment to reach 207 million in 2022: ILO report

Geneva, Jan 20 (PTI) Global unemployment is expected to remain above pre-COVID-19 levels until at least 2023 and is estimated at 207 million this year, almost 21 million more than in 2019, according to a report from the International Labour Organisation that gives assessments on how labour market recovery has unfolded worldwide. The Geneva-based United [...]

Jio, Estonia’s University of Oulu sign agreement for collaboration on 6G technology

New Delhi, Jan 20 (PTI) Jio's Estonia arm and University of Oulu have signed an agreement to collaborate for development of 6G technology as well as to foster entrepreneurship. The collaboration with the Estonia-based university is expected to extend Jio's 5G capabilities and will help explore use cases in the 6G era. Jio Platforms is [...]

WNS Holdings’ Q3 net profit up 10.6% to USD 34.3 mn

New Delhi, Jan 20 (PTI) Business process management major WNS Holdings on Thursday reported a 10.6 per cent rise in net profit to USD 34.3 million for the third quarter ended December 2021.As per the general accounting standards, the company had registered a net profit of USD 31 million in the corresponding quarter last year, [...]

RBI clears Vinod Rai’s appointment as chairman of Unity Small Finance Bank

Mumbai, Jan 20 (PTI) The Reserve Bank has approved the appointment of former Comptroller and Auditor General (CAG) Vinod Rai as the chairman of Unity Small Finance Bank, which began operations last November with its first branch in the city. Rai, after his retirement as the CAG, headed the Banks Board Bureau, the body that [...]

Nestle says Kitkat wrappers with Lord Jagannath pics ‘already withdrawn’

New Delhi, Jan 20 (PTI) Nestle India on Thursday said it has "already withdrawn" from the market packs of its popular chocolate brand Kitkat which depicted images of Lord Jagannath, Balabhadra and Mata Subhadra on wrappers. Nestle India, the Indian subsidiary of the Swiss multinational FMCG giant Nestle, had to face on social media the [...]

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