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Power stock jumps after announcing ₹ 64,000 Cr capex for renewable energy projects
The shares of the leading power transmission company gained up to 2 percent after the company announced an investment of over Rs 64,000 crore for renewable energy capacity expansion and Green Ammonia production facility. Torrent Power Ltd has a market capitalization of Rs 85,311.88 crore, the shares were trading at Rs 1,781.90 per share, increasing [...]
Defence stock under ₹ 150 jumps 4% after securing order worth ₹ 77 Cr from DRDO and others
The shares of this smallcap company jumped around 4 percent in Monday’s trading session after securing a significant order worth around Rs. 77 crores. In one year, the stock has delivered around 100 percent return to its shareholders. Price Movement: With a market capitalization of Rs. 3,390 crores, the shares of Apollo Micro Systems Ltd [...]
Semiconductor stock jumps 6% after signing MoU with Asus for manufacturing notebooks
The shares of this largecap company surged around 6 percent in Monday’s trading session after its wholly-owned subsidiary signed an MoU with ASUS India Private Ltd for the manufacturing of notebooks. In one year, the stock has delivered more than 180 percent return to its shareholders. Price Movement: With a market capitalization of Rs. 80,650 [...]
EV stock jumps 5% after company expands its EV business in Sri Lanka
Shares of this small-cap company, which specializes in e-commerce, electric vehicles, and drones, soared 5 percent following its Sri Lankan market entry with the launch of its inaugural electric bikes. Share Price Movement In Monday's trading session, RattanIndia Enterprises Ltd's share price jumped 4.86 percent to an intra-day high of Rs.83.9, up from its previous [...]
Stock hits 5% upper circuit after announcing 1:5 bonus and 1:5 stock split
The shares of the micro-cap company hit 5 percent upper circuit of Rs 88.55 per share after the company’s board fixed a record date for a bonus issue and stock split in the ratio of 1:5. With a market capitalization of Rs 382.80 crore, the shares of Starlineps Enterprises Ltd were trading at Rs 88.55 [...]
Blue chip stocks with strong capex and capacity expansion plans for FY25 to add to your watchlist
Management guidance in blue-chip stocks provides investors with forecasts of a company's future performance, including expected revenue and earnings. This helps shape investor expectations and can impact stock prices, particularly for stable, well-established companies. Strong guidance boosts investor confidence and reduces risks from market fluctuations. Here are a few blue-chip stocks with robust Management Guidance [...]
Financially strong defence stocks with PEG less than 1 to look out for
The PEG ratio (Price/Earnings to Growth ratio) is a valuation metric that compares a company's P/E ratio to its expected earnings growth rate, helping investors assess whether a stock is overvalued or undervalued. A PEG ratio below 1.0 suggests the stock may be undervalued relative to its growth potential, while a ratio above 1.0 indicates [...]
Monopoly stocks in which Tata Mutual Funds holds 3.79% stake to keep an eye on
Tata Mutual Funds managed by Tata Asset Management Limited is a prominent asset management company in India, that offers a range of investment options to investors through mutual funds to invest in equity, debt, hybrid, and other financial instruments tailored to different risk appetites and financial goals Market leader/Monopoly stocks refer to shares of companies [...]
3 Stocks in tyre recycling business to add to your watchlist
India's tyre recycling industry has significant growth potential to grow ten times in size considering the surging sales and year-on-year growth registered by the domestic automobile industry, with estimates suggesting that the market size could reach Rs. 350 billion in the coming 5 to 10 years. Presently, the industry is valued at nearly Rs. 35 [...]
EV stocks with strong outlook for the next 5 years to look out for
The electric vehicle (EV) market is rapidly evolving, driven by technological advancements, government incentives, and increasing consumer demand for sustainable transportation solutions. The Indian government has been actively promoting the adoption of electric vehicles (EVs) to reduce emissions and improve air quality. Recently, the government has also approved a new scheme called PM Electric Drive [...]
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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
Global corporate funding in solar sector nearly doubles to USD 27.8 bn in 2021: Mercom Capital
New Delhi, Jan 20 (PTI) The global solar sector has witnessed total corporate funding of USD 27.8 billion in 2021, the highest in the last 10 years, according to Mercom Capital Group.Corporate funding includes venture capital and private equity (VC), debt financing, and public market financing.In its latest report, the global clean energy consulting firm [...]
Xebia joins hands with Microsoft for their first ever Blog-a-thon
Mumbai January 20, 2022; Xebia, the US headquartered IT consultancy firm has joined hands with Microsoft for their first ever blog-a-thon contest. The blog-a thon invites IT professionals, students, developers, and leaders to participate by sharing solutions on a pre-identified list of topics that are critical for business applications. The blog-a-thon will commence on February [...]
Cottonseed oil cake futures rise on fresh bets
New Delhi, Jan 20 (PTI) Cottonseed oil cake prices on Thursday increased by Rs 33 to Rs 3,341 per quintal in futures trade as speculators created fresh positions driven by firm spot demand.On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in January traded up by Rs 33, or 1 per cent, [...]
10 Reasons Why Yas Island, Abu Dhabi Should Be on Every Traveller’s Bucket List
Yas Island, one of the world’s fastest growing leisure and entertainment destinations, is one of a kind destination which offers something for all types of holiday makers. Whether you are looking for a dose of adrenaline or a peaceful weekend to unwind at a beach, Yas Island caters to all tastes and ages, as it [...]
Agri exports likely to cross USD 50 bn this fiscal: Comm Min
New Delhi, Jan 20 (PTI) The country's exports of agricultural products, including marine and plantation goods, increased 23.21 per cent to USD 31.05 billion in April-November 2021 and is expected to cross USD 50 billion for the "first time" this fiscal, the commerce ministry said on Thursday.The ministry has taken several steps during the ongoing [...]
Exxelia acquires majority stake in Alcon Electronics for nearly USD 100 mn
New Delhi, Jan 20 (PTI) Exxelia, a leading designer and manufacturer of high-performance passive components and sub-systems, on Thursday said it has acquired a majority stake in Alcon Electronics for nearly USD 100 million. Exxelia completed the majority acquisition of Alcon Electronics on December 29, 2021, according to a company statement. "We are excited to [...]
NCLAT stays insolvency proceedings against HCL Tech
New Delhi, Jan 20 (PTI) In a major relief to IT firm HCL Technologies, the National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings initiated against it on a plea filed by a creditor.A two-member NCLAT bench, while admitting the petition filed by HCL Tech MD and CEO C Vijayakumar stayed the National [...]
Jerri hamlet declared as ‘milk village’ in J&K
Jammu, Jan 20 (PTI) The Jammu and Kashmir administration has declared Jerri settlement in Reasi district as the first 'milk village' of the Union Territory and sanctioned 57 more dairy farms under the Integrated dairy development scheme (IDDS) for the hamlet, officials said.The milk village, which houses 73 individual dairy units with 370 cows, will [...]
Unreasonable 21% indirect taxes resulting in chronically ill civil aviation industry: IndiGo CEO
IndiGo CEO Ronojoy Dutta requested the Ministry of Finance to reduce central excise taxes on fuel from 11 to 5 per cent, eliminate custom duties on aircraft repair parts and bring ATF under GST.Civil aviation pays 21 per cent of its revenues to the government in indirect taxes with very little input credit, he added.Indian [...]
SaaS Labs raises USD 42 mn led by Sequoia; enters Europe with two acquisitions
New Delhi, Jan 20 (PTI) SaaS Labs, which builds business automation tools for sales and support teams worldwide, has raised USD 42 million (about Rs 312 crore) in a funding round led by Sequoia Capital India. The Series B funding round also saw participation from existing investors -- Base 10 Partners and Eight Roads Ventures, [...]
Bring EV financing under priority sector lending, allocate sufficient funds for R&D: SMEV
SMEV said that electric vehicles must be considered for priority lending by the government.There is a need to amend the PLI scheme for automobile and auto components, as in its current form there is an “unfair price disadvantage” for small and medium-size EV players in the industry, it said.The industry body also sought export concessions [...]
KOLKATA BULLION OPENING
Kolkata, Jan.20(PTI): SILVER RDY.(BAR) : Rs.63,500.00 Per Kg. SILVER RDY.(PORTION) : Rs.63,600.00 Per Kg. GOLD (24-CARAT) RDY. : Rs.48,800.00 Per 10 Gms. GOLD (22-CARAT) RDY. : Rs.46,300.00 Per 10 Gms. HALLMARKED GOLD (22-CT) RDY.: Rs.47,000.00 Per 10 Gms. ---- PTI SAM
Kriya Medical Tech gets ICMR approval for COVID-19 testing kit
New Delhi, Jan 20 (PTI) Chennai-based medical device firm Kriya Medical Technologies on Thursday said it has received Indian Council of Medical Research approval for Krivida Novus COVID-19 testing kit -- developed in collaboration with ImmuGenix Bioscience -- that can also detect the Omicron variant.The kit detects the SARS-CoV-2 virus and also differentiates the Omicron [...]
Lotus Herbals acquires 25% stake in direct-to-consumer brand Conscious Chemist
New Delhi, Jan 20 (PTI) Natural beauty care company Lotus Herbals on Thursday said it has acquired a 25 per cent stake in direct-to-consumer brand Conscious Chemist. Conscious Chemist is a new-age clean beauty brand operating in the skincare category. The company, however, did not disclose the financial details of the transaction. Commenting on the [...]
CEAT shares fall over 7% to hit 52-week low on weak earnings
New Delhi, Jan 20 (PTI) Shares of CEAT Ltd witnessed heavy selling pressure in early trade on Thursday after the tyre major reported a consolidated net loss of Rs 20 crore for the December 2021 quarter. The stock slumped to a 52-week low of Rs 1,051.30 on the BSE, registering a fall of 7.24 per [...]
Pixis raises USD 100 mn funding from SoftBank, others
New Delhi, Jan 20 (PTI) California-based technology company Pixis (formerly known as Pyxis One) on Thursday said it has raised USD 100 million (about Rs 743.8 crore) in funding, led by SoftBank Vision Fund 2. The Series C round also saw participation from new investor General Atlantic, and existing investors Celesta Capital, Premji Invest, and [...]
PTC India Financial slumps over 19% after resignation of all 3 independent directors
New Delhi, Jan 20 (PTI) Shares of PTC India Financial Services slumped over 19 per cent in early trade on Thursday after all three independent directors on the company’s board resigned over corporate governance issues and other matters. On the BSE, the shares tanked 19.49 per cent to a low of Rs 20.65 in early [...]
OneWeb, Hughes sign 6-year pact to provide satellite broadband services in India
New Delhi, Jan 20 (PTI) Bharti Group-backed company OneWeb and satellite service provider Hughes Network Systems have signed a strategic six-year distribution agreement to provide satellite broadband services across India, a joint statement said on Thursday.The services in India will be provided by Hughes and Bharti Airtel joint venture Hughes Communications India Private Ltd.The agreement [...]
Zydus gets final USFDA nod to market generic version of Vigabatrin tablets
New Delhi, Jan 20 (PTI) Cadila Healthcare Ltd on Thursday said group firm Zydus has received final approval from the US health regulator to market its generic version of Vigabatrin tablets to treat babies with infantile spasms and epilepsy in combination with other medications. The approval by the US Food and Drug Administration is for [...]
Artha to represent Talend in India as Master VAR
Talend extends Artha Solutions for another year HYDERABAD, India and SCOTTSDALE, Ariz., Jan. 20, 2022 /PRNewswire/ -- Artha Solutions, a leading data technology, and business consulting firm, today announced the extension of its contract with Talend to represent them as the exclusive Master Value Added Reseller in India. This contract is an extension to the [...]
Bunge to pick 33% stake in UPL’s associate firm Sinagro in Brazil
New Delhi, Jan 20 (PTI) Global agri-trade firm Bunge will acquire a 33 per cent stake in Brazil-based Sinagro, an associate company of India's leading agrochemical firm UPL Ltd.UPL Ltd and other shareholders in Sinagro Produtos Agropecuarios SA, Brazil, (Sinagro) have entered into an agreement with Bunge in this regard.Bunge Ltd will acquire a 33 [...]
Kirloskar Brothers Limited wins ‘India’s Most Ethical Company’ Award
MUMBAI, India, Jan. 20, 2022 /PRNewswire/ -- Kirloskar Brothers Limited (KBL), a world leader in providing fluid management solutions, has won the prestigious 'India's Most Ethical Company' Award for the 'Ethical Company in Industrial Manufacturing' category by CMO Asia. CMO Asia is an independent and not-for-profit body guided by an Advisory Council. The 'India's Most [...]
VVDN opens 5G Test Lab to provide ORAN, RCT and Inter-Operability Testing Services
GURUGRAM, India, Jan. 20, 2022 /PRNewswire/ -- VVDN Technologies, end-to-end product engineering and manufacturing company, today announced the introduction of a new end-to-end 5G Testing Lab for 5G ORAN Based RU Devices in India. VVDN's 5G lab is intended to enable technology providers such as telecom device manufactures, system integrators as well as Telcos to [...]
HarperCollins presents ‘Twelfth Fail: Hara Vahi Jo Lada Nahi’ By Anurag Pathak, Translated by Gautam Choubey and Lalit Kumar
NEW DELHI, Jan. 20, 2022 /PRNewswire/ -- HarperCollins India is delighted to release the English translation of the Hindi bestseller 'Twelfth Fail: Hara Vahi Jo Lada Nahi' by Anurag Pathak. Praise for the Book 'Motivational and lucid! I believe this novel will inspire millions of youth to fulfil their dreams.'—Sachin Tendulkar, cricketer 'A novel that [...]
Business schedule for Thursday, Jan 20
Business schedule for Thursday, Jan 20 DELHI: * CESL virtual press conference to be addressed by NITI Aayog CEO, CESL MD (1130 hrs) * Arvind Virmani, Former Chief Economic Advisor at ASSOCHAM Virtual Interactive Session on Shadow Union Budget (1100 hrs) * Webinar on New Labour Codes (1600 hrs) * Unveiling of HP India Future [...]
Rupee gains 15 paise to 74.29 against US dollar in early trade
Mumbai, Jan 20 (PTI) The rupee appreciated by 15 paise to 74.29 against the US dollar in opening trade on Thursday, even as the domestic equity market was trading with significant losses.At the interbank foreign exchange, the rupee opened at 74.43 against the American dollar, then inched higher to 74.29, registering a rise of 15 [...]
Foreign Direct Investment flows to India slip 26% in 2021: UN report
Foreign Direct Investment (FDI) flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated: UNCTAD said.Developed economies saw the biggest rise by far, with FDI reaching an estimated USD 777 billion in 2021 – three times the exceptionally low level in 2020.The report described [...]
Glenmark Pharma inks exclusive licensing agreement with Lotus International
New Delhi, Jan 20 (PTI) Glenmark Pharmaceuticals Ltd on Thursday said its Swiss arm has entered into an exclusive licensing agreement with Lotus International Pte Ltd for commercializing its innovative nasal spray Ryaltris in Singapore, Hong Kong and Vietnam. Under the agreement signed between Glenmark Specialty SA and the wholly-owned subsidiary of Lotus Pharmaceutical Co, [...]
Tejas Networks Appoints Mr. N. Ganapathy Subramaniam and Mr. Amur S. Lakshminarayanan as Directors
BENGALURU, India, Jan. 20, 2022 /PRNewswire/ -- Tejas Networks (BSE: 540595) (NSE: TEJASNET) today announced the appointment of Mr. N. Ganapathy Subramaniam and Mr. Amur S. Lakshminarayanan as Nominee Directors from Panatone Finvest Limited, a subsidiary of Tata Sons Private Limited. This appointment is based on recommendation of the Nomination and Remuneration Committee of Tejas [...]
Dover Corporation continues its scale up of Altizon’s Datonis Digital Factory
Dover Corporation, an American conglomerate of diversified industrial products and solutions, partnered with Altizon to implement Datonis Digital Factory solutions within manufacturing sites across the United States & Europe PALO ALTO, Calif., Jan. 20, 2022 /PRNewswire/ -- Altizon Inc. a chosen partner by Dover Corporation, is pleased to announce that it continues to scale up [...]
Daffodil Software Announces Expansion Plans, To Hire 500 Employees this Year
GURGAON, India, Jan. 20, 2022 /PRNewswire/ -- Gurgaon-based software engineering company announced that it has plans to create 500 full-time jobs this year. To keep up with the increasing customer demand and to strengthen their portfolio for diverse technologies, Daffodil has declared a massive number of vacancies at its headquarters in Gurgaon. The COVID-19 pandemic [...]
LTI constant currency revenues grow 9.2% QoQ and 30.1% YoY; Net profit up by 18.0% YoY
MUMBAI, India, Jan. 19, 2022 /PRNewswire/ -- Larsen & Toubro Infotech (BSE 540005) (NSE: LTI), a global technology consulting and digital solutions company, announced its Q3 FY22 results today. In US Dollars: • Revenue at USD 553.0 million; growth of 8.7% QoQ and 29.3% YoY • Constant Currency Revenue growth of 9.2% QoQ and 30.1% [...]
Sensex falls over 160 pts in early trade; Nifty slips below 17,900
Mumbai, Jan 20 (PTI) Equity benchmark Sensex dropped over 160 points in opening trade on Thursday, tracking losses in index-majors Infosys, HCL Tech and Reliance Industries amid persistent foreign fund outflows and a mixed trend in Asian peers. The BSE gauge was trading 164.47 points or 0.27 per cent lower at 59,934.35 in early trade. [...]
3 independent directors of PTC India Financial Services resign over corporate governance issues
In an unusual development, all three independent directors on the board of PTC India Financial Services (PFS) on Wednesday resigned over corporate governance issues and other matters. The three independent directors who have resigned from the board with immediate effect are Kamlesh Shivji Vikamsey, Santosh B Nayar and Thomas Mathew T, according to a regulatory [...]
Textile manufacturers in TN plan hunger strike on Jan 21; CM Stalin urges Centre to curb cotton price
Chennai, Jan 19 (PTI): Tamil Nadu Chief Minister M K Stalin on Wednesday urged the Centre to avert a crisis gripping the powerlooms, apparel and home textile units in Tamil Nadu owing to the 11 per cent import duty on cotton and asked the government to control the rising price of cotton and yarn, and [...]
Travel plans for thousands disrupted as airlines cancel/curtail US flights over 5G deployment
New York, Jan 19 (PTI) Travel plans for thousands of passengers, including those travelling to India, were disrupted after airlines cancelled or curtailed many flights to and from the US over aviation industry fears that 5G technology could interfere with aircraft's crucial navigation instruments.Several international airlines, including Air India, have announced that they will cancel [...]
PFC Consulting transfers 2 subsidiaries to Adani Transmission for implementing projects
New Delhi, Jan 19 (PTI) State-owned Power Finance Corporation on Wednesday said its arm PFC Consulting Ltd has transferred two wholly-owned subsidiaries to Adani Transmission Ltd for implementing power transmission projects. Adani Transmission had emerged as the successful bidder for these two transmission projects on January 18, according to a BSE filing. As per the [...]
German chancellor pushes for truly global immunisation, warns on Ukraine situation
New Delhi/Davos, Jan 19 (PTI) Calling for greater international cooperation to fight the COVID-19 pandemic, German Chancellor Olaf Scholz on Wednesday said the world may run out of Greek alphabet letters for new variants of the virus without a truly global immunisation campaign. In a special address at the World Economic Forum's online Davos Agenda [...]
Rajasthan govt decides to constitute Rajasthan State Agro Industries Development Board
Jaipur, Jan 19 (PTI) The Rajasthan government has decided to constitute the Rajasthan State Agro Industries Development Board, to increase the income of farmers. The Board will give suggestions regarding making concrete policy and its effective implementation to increase the income of farmers, according to an official statement. The decision was taken in the state [...]
JSW Ispat Special Products posts Rs 28 cr net loss in Dec qtr
New Delhi, Jan 19 (PTI) JSW Ispat Special Products Limited on Wednesday posted a consolidated net loss of Rs 28.24 crore for the December 2021 quarter.It had reported a net profit of Rs 29.49 crore in the year-ago quarter, the company said in a regulatory filing.Its total income, however, increased to Rs 1,476.46 crore during [...]
Business briefs 4
Newgen Software acquires Number Theory for over Rs 16 cr Mumbai, Jan 19 (PTI) Newgen Software, a leading provider of a unified digital transformation platform, has acquired Number Theory, which is an artificial intelligence/ machine learning (AI/ML) data science platform firm, for Rs 16.05 crore. This is a strategic acquisition and Newgen will make a [...]
Rocketlane raises $18 mn in funding
New Delhi, Jan 19 (PTI) Rocketlane, a customer onboarding platform, on Wednesday said it has raised USD 18 million (about Rs 133.8 crore) in funding led by Asana investor, 8VC and others.The Series A round also saw participation from Nexus Venture Partners, Matrix Partners India, and angel investor Gokul Rajaram, a statement said.The latest funding [...]
1.12 crore domestic air passengers in Dec; 6.7% higher than Nov: DGCA
New Delhi, Jan 19 (PTI) Around 1.12 crore domestic passengers travelled by air in December, approximately 6.7 per cent higher than the 1.05 crore who travelled in November, the country's aviation regulator said on Wednesday.Overall, 8.38 crore people travelled on domestic flights in 2021 as compared to 6.3 crore in 2020, showing a jump of [...]
Business briefs 3
HCL Technologies appoints Prabhakar Appana as SVP, global head of AWS Ecosystem biz unit New Delhi, Jan 19 (PTI) HCL Technologies on Wednesday said it has appointed Accenture former executive Prabhakar Appana as senior vice-president and global head of its AWS Ecosystem business unit. An industry veteran with about 23 years of experience in various [...]
Govt re-activates 21 monitoring centres to help migrant workers amid pandemic
New Delhi, Jan 19 (PTI) Union labour ministry on Wednesday said it has re-activated 21 monitoring centres across the country to help mitigate the problems faced by migrant workers through co-ordination with various state governments amid the third wave of the coronavirus pandemic. Once the pandemic situation eases, labour minister Bhupender Yadav and his deputy [...]
Power min administers oath of office to Rengthanvela Thanga as JERC member for Manipur and Mizoram
New Delhi, Jan 19 (PTI) Power Minister R K Singh has administered the oath of office to Rengthanvela Thanga as member of Joint Electricity Regulatory Commission for Manipur and Mizoram. The central government constituted Joint Electricity Regulatory Commission (JERC) for Manipur and Mizoram in pursuance of provisions of the Electricity Act, 2003 and the memorandum [...]
NCLAT sets aside NCLT order rejecting Ericsson’s pleas to convene shareholder meeting
New Delhi, Jan 19 (PTI) The National Company Law Appellate Tribunal (NCLAT) has set aside an NCLT order rejecting pleas by Ericsson India and Ericsson India Global Services to convene a meeting of their shareholders and creditors to approve a scheme of amalgamation. A two-member NCLAT bench comprising Anant Bijay Singh and Shreesha Merla allowed [...]
Rising premium growth, govt reforms to strengthen insurers’ profitability: Report
New Delhi, Jan 19 (PTI) Post-pandemic recovery will sustain growth in insurance premiums, improving profitability amid favourable government reforms in the state-owned insurance sector, according to a report. "The Indian insurance industry's growth prospects are favourable, underpinned by an expected 9.3 per cent GDP expansion in fiscal 2021, which ends March 2022, and by strong [...]
Business highlights
New Delhi, Jan 19 (PTI) Following are the top business stories at 2000 hours: DEL67 CAB-LD RENEWABLE ENERGY Cabinet approves Rs 1,500 cr additional equity infusion in IREDA New Delhi, Jan 19 (PTI) The government on Wednesday approved equity infusion of Rs 1,500 crore in the Indian Renewable Energy Development Agency (IREDA), which would raise [...]
Citi Bank sells Vedanta’s shares worth Rs 1,200 cr
New Delhi, Jan 19 (PTI) Citi Bank on Wednesday offloaded shares of Vedanta Ltd worth over Rs 1,200 crore, through an open market transaction. According to bulk deal data on the BSE, over 3.2 crore shares were sold at an average price of Rs 314.65 apiece. This took the total deal value to Rs 1,204.48 [...]
US-based Hunting, Jindal SAW to invest USD 25 mn to set up precision machine shop in Nashik
New Delhi, Jan 19 (PTI) US-based Hunting Energy Services (Hunting) will set up a precision machine shop in a joint venture with homegrown steel pipes maker Jindal SAW at an initial investment amount of up to USD 25 million (about Rs 175 crore), a top company official said on Wednesday.Addressing a virtual conference, Hunting PLC [...]
US-based Hunting, Jindal SAW to invest USD 25 million to set up precision machine shop in Nashik
New Delhi, Jan 19 (PTI) US-based Hunting Energy Services (Hunting PLC) will set up a precision machine shop in a joint venture with homegrown steel pipes maker Jindal SAW at an initial investment of up to USD 25 million (about Rs 175 crore), a top company official said on Wednesday.Addressing a virtual conference, Hunting PLC [...]
Cabinet sanctions Rs 974 cr to SBI for ex-gratia payment to borrowers
New Delhi, Jan 19 (PTI) The government on Wednesday approved sanction of Rs 973.74 crore to State Bank of India (SBI) as reimbursement related to loan moratorium that was implemented in 2020 amid the pandemic. This amount is for the payment of claims submitted by lending institutions (LIs) under the scheme for grant of ex-gratia [...]
Cabinet approves Rs 1,500 cr additional equity infusion in IREDA
New Delhi, Jan 19 (PTI) The government on Wednesday approved equity infusion of Rs 1,500 crore in the Indian Renewable Energy Development Agency (IREDA), which would raise its additional lending capacity by Rs 12,000 crore. "The enhanced lending capacity will enable IREDA to finance addition renewable energy capacity of up 4000MW. Present loan book size [...]
Tata Investment Corp consolidated PAT up 42.8%
New Delhi, Jan 19 (PTI) Tata Investment Corporation Ltd on Wednesday reported a 42.86 per cent jump in consolidated profit after tax to Rs 39.73 crore in the third quarter ended December 31, 2021. The company had posted a consolidated profit after tax of Rs 27.81 crore in the corresponding quarter of the previous financial [...]
UAE Foreign Minister vists India Pavillion, condoles death of 2 Indians in drone attack
Dubai, Jan 19 (PTI) Foreign Minister of the UAE Sheikh Abdullah bin Zayed Al Nahyan visited the India Pavilion at the Dubai 2020 Expo on Wednesday and expressed condolences over the death of two Indians in a drone attack in the Gulf country. Two Indians and a Pakistani national, all staff of the Abu Dhabi [...]
Q3 Results of Bajaj Auto, profit shrinks by 17% to Rs 1,430 crore
New Delhi, Jan 19 (PTI) Bajaj Auto on Wednesday reported 17 per cent decline in consolidated profit after tax (PAT) at Rs 1,430 crore for the third quarter ended December 31, 2021 on account of lower sales. The company had posted a consolidated PAT of Rs 1,716 crore in October-December period of 2020-21. Total revenue [...]
Bihar to get 559 MW electricity from 660 MW unit
Patna, Jan 19 (PTI) Power availability in Bihar is likely to look up further with the commissioning of a 660 MW unit in Aurangabad district by the National Thermal Power Corporation. According to Vijay Singh, Regional Executive Director (East-1), NTPC, the third and final unit of Nabinagar Power Generating Company (NPGC) at Nabinagar in Aurangabad [...]
Diginoor.io raises USD 1 million seed funding from Contrary Capital, Polygon
Chennai, Jan 19 (PTI): Diginoor.io, a non-fungible token (NFT) market place founded by city-based entrepreneurs Shaamil Karim and Yash Rathod, on Wednesday said it has raised USD 1 million funding for its plans to hire a talented team. "The round saw participation from Contrary Capital, Polygon Fund, Sandeep Nailwal, Kunal Shah, Embassy Capital MD Abdul [...]
German chancellor pushes for truly global immunisation, warns on Ukraine situation
New Delhi/Davos, Jan 19 (PTI) Calling for greater international cooperation to fight the COVID-19 pandemic, German Chancellor Olaf Scholz on Wednesday said the world may run out of Greek alphabet letters for new variants of the virus without a truly global immunisation campaign. In a special address at the World Economic Forum's online Davos Agenda [...]
Prodapt acquires Synophic Worldwide, steps up presence in US & Latin American regions
Chennai, Jan 19 (PTI) Consulting, technology and managed transformational services provider Prodapt on Wednesday said it has acquired Synophic Worldwide, providing network transformational and managed services to digital service providers for an 'undisclosed sum". The acquisition made by Prodapt was its third this financial year. Prodapt earlier announced the acquisitions of Innovative Logic and SLR [...]
Areca, coconut prices
Mangaluru, Jan 19 (PTI) Following are areca and coconut prices. Areca (per quintal) Old Supari : Rs 48000 to Rs 53000 model Rs 50000 New Supari : Rs 40000 to Rs 45000 model Rs 43000 Koka : Rs 35000 to Rs 39500 model Rs 37500 Coconut [per thousand]: 1st quality : Rs 18000 to Rs [...]
Rishi Sunak cracks down on misleading crypto adverts in UK
London, Jan 19 (PTI) Chancellor of the Exchequer Rishi Sunak has laid out plans for the UK’s Financial Conduct Authority (FCA) to crack down on misleading adverts of cryptocurrency, bringing it in line with other financial promotions.A consultation response, published on Tuesday, sets out the UK government’s plan to bring the promotion of so-called cryptoassets [...]
Bullion rates
Bengaluru, Jan 19 (PTI) Closing bullion rates: Standard gold [99.5 purity] Rs 49,760 per 10 gram; ornamental gold Rs 4,640 per gram; silverspot [.999 fineness] Rs 65,100 per kg. PTI DVR NVG NVG
GJEPC inks 95-year land lease pact with MIDC to set up India Jewellery Park Mumbai
Mumbai, Jan 19 (PTI) The Gem and Jewellery Export Promotion Council (GJEPC) on Wednesday said it has signed a draft agreement with the Maharashtra Industrial Development Corporation (MIDC) for granting the possession of land for 95 years to set up the India Jewellery Park Mumbai (IJPM). "The India Jewellery Park Mumbai, another ambitious project of [...]
AGS Transact Technologies IPO subscribed 88% on Day 1 of offer
New Delhi, Jan 19 (PTI) The initial public offer of payment solutions provider AGS Transact Technologies received 88 per cent subscription on the first day on Wednesday. The IPO received bids for 2,51,98,420 shares against 2,86,74,696 shares on offer, according to data available with the BSE. The Retail Individual Investors (RIIs) category received 1.32 times [...]
Avendus secures Rs 500 cr for 2nd structured credit fund
Mumbai, Jan 19 (PTI) Avendus PE Investment Advisors, the asset management arm of the Avendus Group, has raised over Rs 500 crore in the first close of its structured credit fund II which has a target of garnering Rs 1,000 crore in corpus on completion. For the Sebi-registered category II alternative investment fund, this is [...]
SJVN earns Rs 34.40 crore as incentive from its hydropower units
New Delhi, Jan 19 (PTI) State-owned SJVN Ltd on Wednesday said it earned Rs 34.40 crore as an incentive from its hydropower plants during April-December 2021. "The company has earned Rs 34.40 crore as incentive under the deviation settlement mechanism from 1,500-MW (megawatt) Nathpa Jhakri HPS and 412-MW Rampur HPS (hydropower station) in three quarters [...]
Economy needs more nursing; Budget shouldn’t focus on fiscal consolidation alone: SBI
Mumbai, Jan 19 (PTI) House economists at the nation's largest lender State Bank of India (SBI) have urged the government to budget for nursing the pandemic-ravaged economy and not to focus too much on fiscal consolidation as there is a need for more stabilisation measures to sustain the fledgling recovery. And one of the best [...]
Cut import duty gradually on alcoholic beverages under India-UK FTA; not unfairly: CIABC to govt
New Delhi, Jan 19 (PTI) The apex body for liquor firms Confederation of Indian Alcoholic Beverage Companies has urged the government to gradually reduce customs duties on British alcoholic beverages under the proposed India-UK free trade agreement, and not in an unfair manner as that could impact domestic players.Confederation of Indian Alcoholic Beverage Companies (CIABC) [...]
Rallis India’s net profit falls 13.3% to Rs 39.6 cr in Dec quarter
New Delhi, Jan 19 (PTI) Rallis India Ltd, a subsidiary of Tata Chemicals, on Wednesday reported a 13.3 per cent fall in its consolidated net profit to Rs 39.56 crore for the third quarter ended December 2021. It had posted a net profit of Rs 45.64 crore in the October-December quarter last fiscal, Rallis India [...]
Investors’ wealth tumbles by over Rs 5.24 lakh crore in 2-day market sell-off
New Delhi, Jan 19 (PTI) Investors' wealth has eroded by Rs 5,24,647.66 crore in last two days as markets saw a hectic sell-off on Wednesday as well. The BSE Sensex plunged 656.04 points or 1.08 per cent to settle at 60,098.82. The 30-share index had tanked 554.05 points or 0.90 per cent on Tuesday. The [...]
Popeyes Launched in India By Jubilant Foodworks, opens first restaurant in Bengaluru
New Delhi, Jan 19 (PTI) Jubilant Foodworks Ltd, the country's leading quick service restaurant (QSR) operator, on Wednesday announced to launch the iconic US Fried Chicken brand Popeyes in India by opening its first store in Bengaluru on Wednesday. Louisiana-born Popeyes was founded in 1972 and has been one of America's most popular and fastest-growing [...]
Rupee logs 1st gain in four days, up 14 paise against USD
Mumbai, Jan 19 (PTI) The Indian rupee snapped its three-day losing streak to settle 14 paise higher at 74.44 against the US dollar on Wednesday, in line with positive Asian peers against the greenback. The rupee gain, however, was restricted by a host of factors including weak domestic equities, surging crude oil prices and sustained [...]
Digital payments record 40% annual growth at Sep-end 2021: RBI data
Mumbai, Jan 19 (PTI) Digital payments across the country registered a growth of nearly 40 per cent in a year through September 2021, as per the RBI's latest index that measures the adoption of online transactions. The newly constituted RBI's digital payment index (RBI-DPI) stood at 304.06 during September 2021 as against 270.59 in March [...]
Porter to undertake maiden ESOP liquidation prog worth $5 mln
New Delhi, Jan 19 (PTI) Tech-based intra-city logistics company Porter on Wednesday announced its maiden Employee Stock Ownership Plan (ESOP) monetisation programme worth USD 5 million (about Rs 37.2 crore) for its eligible current and former employees. The liquidation opportunity, which will be open for participation through next week, is expected to benefit both the [...]
BharatPe MD Ashneer Grover takes voluntary leave till March-end
New Delhi, Jan 19 (PTI) BharatPe co-founder and managing director Ashneer Grover, who was recently embroiled in a controversy over purportedly using abusive language against Kotak Mahindra Bank staff, has taken a voluntary leave till March-end, as per a statement issued by the fintech company on Wednesday. Grover informed the company's board about his decision [...]
Scripbox raises USD 21 mn in funding from Accel Partners, others
New Delhi, Jan 19 (PTI) Digital wealth manager Scripbox on Wednesday said it has raised USD 21 million (about Rs 150 crore) in a combination of equity and debt through Series-D funding led by Accel Partners.The funding round also saw participation from Transpose Platform, DMI Alternative Investment Fund - The Sparkle Fund, InnoVen Capital, Trifecta [...]
Early detection and regular treatment are key to managing Heart Failure
Heart failure is the gradual weakening of heart muscle due to which the heart's pumping capacity cannot meet the body's requirements. People often believe that after being diagnosed with heart failure, their life can never resume normalcy, or they would die quickly. "In patients with Heart failure, the survival and quality of life can be [...]
STL poised for growth; declares solid wins in new markets and accelerates investments in 5G
- Establishes new base for optical business in the US with orders of ~Rs 3 Bn - Establishes new revenue stream of Optical Interconnect with orders worth ~Rs 7 Bn MUMBAI, India, Jan. 19, 2022 /PRNewswire/ -- STL (NSE: STLTECH), an industry leading integrator of digital networks, announced its financial results for the quarter ended [...]
JSW Energy shares gain nearly 3 pc after earnings announcement
New Delhi, Jan 19 (PTI) Shares of JSW Energy on Wednesday gained nearly 3 per cent after the firm announced an over two-fold rise in its December 2021 quarter profit. It jumped 2.68 per cent to settle at Rs 311.95 on the BSE. During the day, the stock rallied 4.98 per cent to Rs 318.95. [...]
Settlrs raises USD 1 mn in funding from Canbank Venture Capital, others
New Delhi, Jan 19 (PTI) B2B services rental startup Settlrs on Wednesday said it has raised USD 1 million (over Rs 7 crore) fund from Canbank Venture Capital Fund Ltd and other investors.The startup -- incubated at NSRCEL, IIM Bangalore (IIMB) -- said the other investors are Vinod Jain Family Office, MaGeHold Pte Ltd, JN [...]
FinMin asks ministries to restrict expenses within prescribed limit
Ahead of the Union Budget 2022-23, the finance ministry has asked ministries and departments to restrict their expenses with the revised estimates.The proposal for Supplementary Demands for Grants may be projected after a thorough and objective assessment of additional requirements of funds, it said.The two-phase Budget session begins on January 31 and continues till April [...]
Just Dial tumbles over 3 pc post earnings announcement
New Delhi, Jan 19 (PTI) Shares of Just Dial on Wednesday dipped over 3 per cent after the company's consolidated net profit declined by 61.2 per cent for December 2021 quarter.The stock declined 5.78 per cent to Rs 791 during the day on the BSE. It settled at Rs 812.90, lower by 3.17 per cent.At [...]
Bajaj Finance shares give up early gains; settle over 2 pc lower
New Delhi, Jan 19 (PTI) Bajaj Finance stock on Wednesday surrendered all its early gains and settled over 2 per cent lower on profit-taking.During the early trade, it had jumped nearly 4 per cent after the company reported an 85.5 per cent rise in consolidated net profit for the third quarter of the current fiscal.The [...]
JSCL inks pact to construct Tawi riverfront development project
Jammu, Jan 19 (PTI) Jammu Smart City Ltd (JSCL) on Wednesday signed an agreement with Shree Balaji Engicons Ltd for the development of right and left banks of River Tawi here on the lines of Gujarat's Sabarmati Riverfront. The pact was signed and exchanged between JSCL Chief Executive Officer Avny Lavasa and Shree Balaji Engicons [...]
Volvo recognized as one of the Best Brands in 2021 by Economic Times
BENGALURU, India, Jan. 19, 2022 /PRNewswire/ -- Every year, Economic Times, a leading Indian Publication, celebrates brands that have been making an impact within their industry. With an ever-dynamic surrounding, most brands are challenged in ways they market to the public and establish brand momentum. This Award Ceremony recognizes brands who have successful maneuvered the [...]
MUMBAI, JAN 19
(PTI) MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 63004.00 63557.00 STANDARD GOLD (99.5) : 48011.00 48057.00 PURE GOLD (99.9) : 48204.00 48250.00 ------------------- PTI MUM SVC SVC SVC
TVS Motor launches HLX 150 Disc trim in Egypt
New Delhi, Jan 19 (PTI) TVS Motor Company on Wednesday said it has launched its bike model, Star HLX 150 Disc, in Egypt. The company is launching the product to offer an attractive personal mobility option to rural and urban Egyptian commuters, the company said in a statement. "TVS HLX series is a testimony to [...]
Risk mitigation in insurance key to drive penetration: Official
Kolkata, Jan 19 (PTI) Mitigation of risks is key to drive penetration of insurance products in the country with the sector having potential to become a catalyst for economic growth, an official of the Union Finance Ministry said on Wednesday. Speaking at a webinar on insurance organised by the Confederation of Indian Industry, Department of [...]
India’s oil production continues to slip, down 2% in Dec
New Delhi, Jan 19 (PTI) India's production of crude oil, which is refined to produce petrol and diesel, continued to decline in December 2021, with lower output from state-owned ONGC leading to a near 2 per cent drop, official data showed on Wednesday. Oil production in December 2021 was 2.51 million tonnes, down from 2.55 [...]
FinMin notifies e-advance ruling scheme, allows filing e-mail application
New Delhi, Jan 19 (PTI) The finance ministry has notified the 'e-advance rulings Scheme', enabling taxpayers to file their application for advance ruling through e-mail, a move that will majorly benefit non-resident assesses in such proceedings. The 'e-advance rulings Scheme, 2022', notified by the Central Board of Direct Taxes (CBDT), further provides that hearing before [...]
Why just electric and not auto LPG, asks IAC
New Delhi, Jan 19 (PTI) Indian Auto LPG Coalition (IAC), the nodal body for the promotion of Auto LPG in India, has questioned the 'disproportionate' policy focus on electric vehicles in the war against carbon emissions by vehicles, saying running automobiles on LPG offers equally worthy solution. Almost 30 crore vehicles on Indian roads cannot [...]
THE SLEEP COMPANY KICKS OF 2022 WITH A BANG! LAUNCHES ITS STATE-OF-THE-ART, ZERO-GRAVITY ‘ELEV8 SMART ADJUSTABLE BED’ & ‘SMART ORTHO HYBRID MATTRESS’
• The Elev8 Smart Adjustable Bed Frame comes packed with features like Zero Gravity mode, a Dual Zone Massager, and TV mode, to name a few • The Smart Ortho Hybrid Pocketed Spring Mattress extends the application of the company's patented SmartGRID technology to yet another revolutionary product • Both cutting edge products reinforce the [...]
Real estate developers expect up to 30% rise in real estate prices this yr: Survey
A sharp increase in rates of building materials may increase property prices by 30% according to real estate developers.“Around 39 per cent of the developers are doing 25 per cent of sales online which we think will increase substantially this year,” CREDAI-National President Harsh Vardhan Patodia, said.Most of the developers are focusing on digital transformation [...]
PRICES MUM OILSEEDS CLOSING
MUMBAI, JAN 19 (PTI) OILS (per 10 Kgs) G.Nut Raw 1320.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1175.00 Sunflower Exp.Ref. 1230.00 Cottonseed(Refined) 1235.00 Refined Palm Oil 1170.00 Soyabean Ref. 1210.00 Imp.Soyabean Crude - Rapeseed Ref. 1670.00 Rapeseed Exp. 1640.00 Copra white 1580.00 Rice Bran 4-7% FFA - Rice Bran 1120.00 Linseed 1950.00 Castor [...]
Accomplished Pharma R&D leader, Sauri Gudlavalleti joins Sai Life Sciences as Chief Operating Officer
HYDERABAD, India, Jan. 19, 2022 /PRNewswire/ -- Sai Life Sciences, a leading global Contract Research, Development & Manufacturing Organization (CRO-CDMO), today announced the appointment of Sauri Gudlavalleti as its Chief Operating Officer. Sauri will report to the CEO & Managing Director, Krishna Kanumuri and drive the company's growth as a new generation, science-driven organization. Making [...]
MUUMBAI, JAN 19 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST.
COPPER :- COPPER CABEL SCRAP 729.00 COPPER HEAVY SCRAPS 720.00 COPPER ARMATURE (CREDIT) 698.00 COPPER UTENSILS SCRAP 635.00 CC ROD 772.00 BRASS :- BRASS SHEET CUTTING 535.00 BRASS UTENSIL SCRAP 483.00 BRASS HONEY 480.00 ALUMINIUM :- ALUMINIUM UTENSIL SCARPS 187.00 ALUMINIUM EXTRUSION SCRAP 210.00 ALUMINIUM INGOTS 243.00 OTHER : - GUN METAL SCRAP 520.00 ZINC [...]
Reliance Retail acquires 55% stake in Addverb Technologies: RIL
New Delhi, Jan 19 (PTI) Reliance Retail had acquired about 55 per cent stake in robotics firm Addverb Technologies in July 2021, Indian conglomerate Reliance Industries Limited said in a filing on Wednesday. Addverb Technologies co-founder and CEO Sangeet Kumar has told PTI that Reliance Retail has invested USD 132 million (about Rs 983 crore) [...]
JSW Energy posts strong Q3 results, net profit increases by 161%
New Delhi, Jan 19 (PTI) JSW Energy on Wednesday reported over a two-fold jump in its consolidated net profit to Rs 324 crore for the December 2021 quarter, mainly on the back of higher revenues. Its consolidated net profit had stood at Rs 124 crore in the year-ago quarter, according to a BSE filing. The [...]
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