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Semiconductor stocks jump 15% after PM Modi speaks about India’s semiconductor future
Prime Minister Narendra Modi addressed the Semicon India 2024, highlighting India’s developments, focus, and vision on ongoing projects and plans catering to the semiconductor industry and India’s semiconductor mission thereby boosting the Nation’s growth and prosperity. He stated that semiconductor is the basis of the digital age and that the day is not far when [...]
Market leader stock to buy now for an upside of 25%; Do you own it?
The Indian auto components industry contributes 7.5% to GDP and employs 32 million people. Turnover reached $74.1 billion in FY 2023-24, up from $69.7 billion. With exports making up 25% of production, the sector is expected to grow to $200 billion by 2026, positioning India as a global sourcing hub. With a market capitalization of [...]
Chemical stock hits 10% upper circuit after mutual fund bought 1.06 Lakh shares in the company
Specialty chemical stock engaged in the trading of textile printing inks and water-based wood coating polymers hit a 10 percent upper circuit in the day’s trade after India Equity Fund 1 purchased 1.06 equity shares of the firm. Price Action With a market capitalization of Rs. 117 Crores, the shares of Silkflex Polymers (India) Limited [...]
Waste management stock to buy now for an upside of 25%; Do you own it?
Shares of this water management stock jumped around 4 percent to Rs.1,424.6 per share after Axis securities set a target price indicating potential upside growth. Price Movement In Thursday’s trading session, Va Tech Wabag's share price surged 3.9 percent, reaching an intraday high of Rs.1,424.6 per share from its previous close of Rs.1,370.65 apiece. The [...]
Textile stock jumps after mutual funds and FII buy stake in the company for ₹ 457 Cr
During Thursday’s trading session, the shares of a company operating in the branded apparel, beauty and footwear space, surged 2.1 percent to Rs. 596.25 on BSE, after Goldman Sachs, ICICI Prudential Life Insurance and others bought stakes in the company. With a market capitalisation of Rs. 7,648.4 crores, at 02:28 pm., the shares of Arvind [...]
Ashish Kacholia stock jumps more than 20% in just 5 days; Check the reasons
Ashish Kacholia, better known for his investing strategies and absence in the media, is one of the renowned Indian stock market investors. He started his career with Prime Securities and later joined Edelweiss where he used to handle the equity research desk. Finally, he incorporated his broking firm, Lucky Securities, where he’s building his portfolio. [...]
Pharma stock jumps 10% after Black Rock bought 92,612 shares in the company
Pharma stock engaged in dealing pharmaceutical ingredients, formulations, surgical products, and many more jumped upto 10 percent in the day’s trade after Black Rock Financials Services Pvt Limited bought shares of the company. Price Action With a market capitalization of Rs. 222 Crores, the shares of Vaishali Pharma Limited opened at Rs. 200.50 and made [...]
What to do with Varun Beverages (VBL) stock after its stock split?
Shares of the food and beverage giant, a partner of PepsiCo, surged over 6 percent to an intraday high of Rs.665.65 per share on the first day of trading after a 2:5 stock split. Share Price Variation In Thursday’s trading session, Varun Beverages Ltd.'s share price reached an intraday high of Rs.665.65, reflecting a 6.06 [...]
Smallcap stock jumps after it receives order worth ₹ 2,774 Cr from Airports Authority of India
The shares of one of the largest specialized Engineering, procurement, and Construction (EPC) companies with operations across the world, in focus upon receiving new work orders worth Rs. 2,774 Crores. Price Action With a market capitalization of Rs. 22,176 Crores, the shares of Kalpataru Projects International Limited opened at Rs. 1,355.50 and made an intraday [...]
Nikhil Kamath stock jumps 5% after it acquires 15.8% stake in GetStan Technologies
During Thursday’s trading session, the shares of India’s only publicly listed diversified gaming, esports and sports media company surged 5.5 percent to Rs. 1,019 on BSE, after the company announced acquiring a 15.86 percent stake in a leading esports community platform in India, GetStan Technologies Pte. Ltd. (STAN). With a market capitalisation of Rs. 7,648.4 [...]
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Top Editor’s Pick
Why Mutual Funds Remain a Popular Choice in 2025
You’re not alone if you’ve been thinking more seriously about where your money goes. With daily expenses rising and long-term goals in sight, it’s only natural to look for ways to grow your savings without constant monitoring. That’s where mutual funds come into the picture. They’ve quietly remained a favourite for many over the years. [...]
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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Money Market Operations
(Amount in ? crore, Rate in Per cent) VOLUME Weighted MONEY MARKET (ONE LEG) Average Rate Range A. Overnight Segment 5,21,182.87 3.47 0.01-5.50 I. Call Money 10,062.01 3.41 2.10-3.75 II. Triparty Repo 3,97,303.95 3.47 3.25-3.97 III. Market Repo 1,13,796.91 3.46 0.01-4.00 IV. Repo in Corporate Bond 20.00 5.50 5.50-5.50 B. Term Segment I. Notice Money** [...]
Cyberattacks surge amid accelerating pace of COVID-driven digitalisation: WEF study
New Delhi/Davos, Jan 18 (PTI) The accelerating pace of digitalisation, fuelled by the COVID-19 pandemic, has led to a record-breaking year for cybercrime with ransomware attacks rising 151 per cent in 2021, and an average of 270 cyberattacks per organisation being faced, a new study showed on Tuesday. The World Economic Forum's 'Global Cybersecurity Outlook [...]
GJEPC for cut in gold import duty to 4%, special package for sector in Budget
New Delhi, Jan 18 (PTI) Gems and Jewellery Export Promotion Council (GJEPC) has urged the government to reduce import duty on gold to 4 per cent from 7.5 per cent and a special package for the sector in the forthcoming Budget to boost shipments.As part of its pre-Budget recommendations, the council has also suggested a [...]
Soybean futures rise on fresh bets
New Delhi, Jan 18 (PTI) Soybean prices on Tuesday gained Rs 185 to Rs 6,383 per quintal in futures market as traders created fresh positions tracking positive spot demand.On the National Commodity and Derivatives Exchange, soybean for January delivery rose by Rs 185, or 2.98 per cent, to Rs 6,383 per quintal with an open [...]
Refined soya oil futures fall on low demand
New Delhi, Jan 18 (PTI) Refined soya oil prices on Tuesday fell by Rs 1.1 to Rs 1,195 per 10 kg in futures trade as speculators reduced holdings amid subdued demand in spot market.On the National Commodity and Derivatives Exchange, refined soya oil for delivery in January declined by Rs 1.1, or 0.09 per cent, [...]
Guar seed futures rise on fresh bets
New Delhi, Jan 18 (PTI) Guar seed prices on Tuesday rose by Rs 99 to Rs 6,500 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend in spot market.On the National Commodity and Derivatives Exchange, guar seed for January contracts increased by Rs 99, or 1.55 per cent, [...]
Guar gum futures gain on spot demand
New Delhi, Jan 18 (PTI) Guar gum prices on Tuesday gained Rs 308 to Rs 11,990 per five quintal in futures trade as speculators increased their holdings on spot demand.On the National Commodity and Derivatives Exchange, guar gum contracts for January delivery traded higher by Rs 308, or 2.64 per cent, to Rs 11,990 per [...]
Coriander futures decline on low demand
New Delhi, Jan 18 (PTI) Coriander prices on Tuesday fell by Rs 206 to Rs 9,550 per quintal in futures trade as speculators reduced their positions amid weak demand in spot market.On the National Commodity and Derivatives Exchange, coriander contracts for January eased by Rs 206, or 2.11 per cent, to Rs 9,550 per quintal [...]
Cottonseed oil cake futures rise on fresh bets
New Delhi, Jan 18 (PTI) Cottonseed oil cake prices on Tuesday increased by Rs 36 to Rs 3,346 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 February traded up by Rs 36, or 1.09 per cent, [...]
HUVIAiR raises USD 3.2 mn from investors including Chiratae Ventures to grow business
New Delhi, Jan 18 (PTI) HUVIAiR Technologies, which provides software solutions for construction projects, on Tuesday said it has raised USD 3.2 million (around Rs 23.82 crore) in a funding round led by Chiratae Ventures to expand and grow its business. HUVIAiR is headquartered in Bengaluru and was founded by Vikshut Mundkur (CEO) and Arjun [...]
Oppo India partners BITS Pilani for skill enhancement of India R&D employees
New Delhi, Jan 18 (PTI) Oppo India on Tuesday said it has inked an agreement with BITS Pilani to upskill its R&D engineers with advanced technological learnings.With the advent of industry 4.0 and in the era of specialisation, this initiative reiterates Oppo's focus to help employees acquire skill up-gradation while focusing on innovations centric to [...]
MyCaptain raises USD 3 Million in Pre Series-A funding
Bengaluru, Jan 18 (PTI) MyCaptain, a city-based online mentoring startup on Tuesday announced that it has raised USD 3 million in Pre Series-A funding, led by Ankur Capital. The round also saw participation from IPV (Inflection Point Ventures), Firstport ventures, IIM Calcutta Angels Network, Singapore Angel Investors and other Super Angels. This funding will be [...]
Renaissance Global inks licensing agreement with National Football League of US
New Delhi, Jan 18 (PTI) Branded jewellery maker Renaissance Global Ltd on Tuesday said it has inked a licensing agreement with the National Football League (NFL) of the US, to collaborate to design a unique branded jewellery collection using NFL intellectual property. The unique collection developed under the agreement will be marketed to consumers in [...]
Dixon, boAt form 50:50 JV to manufacture Bluetooth enabled audio devices
New Delhi, Jan 18 (PTI) Electronics manufacturing firm Dixon Technologies and Imagine Marketing -- the parent company of earwear brand boat -- have formed a 50:50 joint venture to manufacture Bluetooth enabled audio devices.“The company and Imagine have entered into a joint venture agreement to form a joint venture company for undertaking the manufacture of [...]
KOLKATA BULLION OPENING
Kolkata, Jan.18(PTI): SILVER RDY. (BAR) : Rs.62,050.00 Per Kg.SILVER RDY. (PORTION) : Rs.62,150.00 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
Tata Motors to hike passenger vehicle prices from Jan 19
New Delhi, Jan 18 (PTI) Tata Motors on Tuesday said it will increase prices of its passenger vehicles by an average of 0.9 per cent with effect from January 19, in order to partially offset the impact of rise in input costs. The Mumbai-based automaker sells various models like Tiago, Punch and Harrier, in the [...]
Ohmium partners with IIT Madras Research Park
New Delhi, Jan 18 (PTI) Ohmium International has partnered with IIT Madras Research Park (IITMRP) to accelerate Polymer electrolyte membrane (PEM) electrolyzer performance enhancements. Both the entities have announced a R&D partnership, which will accelerate the production implementation of PEM electrolyzer technology enhancements, a statement said. Ohmium International enables industries to deploy green hydrogen for [...]
EaseMyTrip inks pact with regional airline Flybig to sell tickets exclusively on its platform
New Delhi, Jan 18 (PTI) Online travel service provider EaseMyTrip on Tuesday said it has entered into a partnership with regional airline Flybig to sell the latter's tickets exclusively on its platform.All the bookings of Flybig by any other online travel portals will also go through and be processed by EaseMyTrip, the company said in [...]
Time is muscle, do not delay heart failure treatment
Our heart is the main organ in the circulatory system which pumps blood to the whole body. Due to various reasons, such as diabetes and hypertension, it becomes weak and unable to function. Heart failure is the gradual weakening of heart muscle and is often confused with a heart attack. A heart attack is the [...]
Nazara acquires majority stake in Datawrkz for Rs 124 cr
New Delhi, Jan 18 (PTI) Gaming and sports media company Nazara Technologies on Tuesday said it will acquire a 55 per cent stake in programmatic advertising and monetisation company Datawrkz for about Rs 124 crore. The transaction values the Bengaluru-based company at Rs 225 crore (approximately USD 30 million), linked to CY 22 EBITDA performance, [...]
Radiant Cash Management Services, Veranda Learning Solutions get Sebi nod to float IPOs
New Delhi, Jan 18 (PTI) Radiant Cash Management Services, an integrated cash logistics player, and online education platform Veranda Learning Solutions have received the go ahead from capital markets regulator Sebi to float their initial public offerings (IPOs). The two companies, filed their preliminary IPO papers with Sebi between October and November and obtained the [...]
Prestige Estates shares zoom over 8% after Q3 sales bookings jump over two-fold
New Delhi, Jan 18 (PTI) Shares of Prestige Estates on Tuesday jumped over 8 per cent after the company reported over two-fold jump in sales bookings for the quarter ended December. At the BSE, the stock zoomed 7.96 per cent to its 52-week high of Rs 553.40. It jumped 8.28 per cent to its 52-week [...]
HFCL shares tumble nearly 9% post earnings
New Delhi, Jan 18 (PTI) Shares of domestic telecom gear maker HFCL on Tuesday tumbled nearly 9 per cent after the company posted 4.7 per cent decline in consolidated profit for the third quarter ended December 31, 2021. The stock declined 8.60 per cent to Rs 88.10 on the BSE. At the NSE, it tumbled [...]
Agritech firm Arya.ag raises about Rs 450 cr for business growth
New Delhi, Jan 18 (PTI) Agritech firm Arya.ag on Tuesday said it has raised USD 60 million (around Rs 450 crore) in equity and debt from investors to expand its business.In a statement, Arya.ag, an integrated grain commerce platform, announced the close of its Series C round, having raised USD 60 million in a mix [...]
DoT amends telecom licences to enable machine-to-machine communications
New Delhi, Jan 18 (PTI) The Department of Telecom has amended telecom licences to enable service providers to roll out machine-to-machine communication -- a service which is considered as a key driver of 5G adoption -- in the country. While the DoT had issued machine-to-machine (M2M) guidelines in May 2018, the clause related to their [...]
Thoughtworks XConf Tech Talk Series: Mitigating software supply chain attacks
Author: Sindhuja Mahendran, Senior Consultant Modern software is a complex supply chain consisting of code, components, build, packaging scripts, etc. In fact, much of the software we write today also contains several third-party libraries. On the other hand, despite our best efforts, software is rarely defect-free. Vulnerabilities are often introduced — intentionally or accidentally — [...]
Ferrari World Abu Dhabi and Warner Bros. World™ Abu Dhabi break new GUINNESS WORLD RECORDS™ titles
ABU DHABI, UAE, Jan. 18, 2022 /PRNewswire/ -- Ferrari World Abu Dhabi and Warner Bros. World™ Abu Dhabi have succeeded in breaking two GUINNESS WORLD RECORDS™ titles in celebration of the festive season for "Most Contributions to a Color by Numbers" and "Most Contributions to a Greetings Card." Guests of all ages came together to [...]
Chandigarh Welfare Trust, an NGO for well-being, holistic development of Chandigarh & its people, launched
- "This NGO is a sincere effort at paying back to Chandigarh city and its citizens": Satnam Singh Sandhu - NGO to work for restoring, advancing, promoting Chandigarh's glory, to restitue it as a model of development across Globe CHANDIGARH, India, Jan. 18, 2022 /PRNewswire/ -- With the mission of creating a future full of [...]
Accolite Digital positioned in the Established Zone in Digital Engineering Services in Zinnov Zones 2021 ER&D Services Report
BANGALORE, India and DALLAS, Jan. 18, 2022 /PRNewswire/ -- Accolite Digital, a best-in-class digital transformation services provider, has been positioned in the Established Zone in Digital Engineering Services by Zinnov, a global Management Consulting and Strategy Advisory firm, in its annual Zinnov Zones for Engineering Research and Development (ER&D) Services 2021 ratings. Additionally, Zinnov positions [...]
Rupee falls 18 paise to 74.43 against US dollar in early trade
Mumbai, Jan 18 (PTI) The rupee declined by 18 paise to 74.43 against the US dollar in opening trade on Tuesday, as strong American currency and elevated crude oil prices weighed on investor sentiments.Forex traders said muted domestic equities and dollar buying by banks on behalf of importers also dragged the local unit down.At the [...]
Business schedule for Tuesday, Jan 18
Business schedule for Tuesday, Jan 18 DELHI: * Discussion on Data Protection Bill 2021 (1500 hrs) MUMBAI: * ICICI Pru earnings call (1830 hrs) * L&T Technology Services (1930 hrs). PTI BAL BAL
Sensex gains over 135 pts in early trade; Nifty tests 18,350
Mumbai, Jan 18 (PTI) Equity benchmark Sensex climbed over 135 points in opening trade on Tuesday, tracking gains in index-majors ITC, Tech Mahindra and Bajaj Finserv amid a largely positive trend in the global markets. Starting on a positive note, the BSE gauge was trading 138.57 points or 0.23 per cent higher at 61,447.48 in [...]
Successive Technologies Becomes an AWS Advanced Consulting Partner
With only 364 Advanced Consulting Partners in US, out of an ecosystem of about 100,000 partners from more than 150 countries, the company now finds itself as part of an elite group of partners. DALLAS, Jan. 17, 2022 /PRNewswire/ -- Successive Technologies, a next-gen (CMMI Level-3) technology consulting and services company headquartered in Texas, is [...]
AskSid – the digital assistant of choice for Danone Nutricia, the world leader in early life nutrition
- Danone Nutricia, a Fortune 500 company and the world's foremost health food company has continued its successful engagement with AskSid to provide the very best in customer support to parents, carers, and healthcare professionals. BANGALORE, India, Jan. 18, 2022 /PRNewswire/ -- Early life nutrition is easily one of the most sensitive categories to provide [...]
Haier Recognized as the No.1 Brand Globally in Major Appliances in 2021
New Delhi, Delhi, India – Business Wire India • Haier has been recognized as the number one brand globally in major appliances in 2021 for the 13th consecutive year, by Euromonitor International • Haier today serves over 1 billion families in 160 countries or regions around the world Haier, the global leader in home appliances [...]
Guterres says he’s in close contact with US, UK to support India’s 450 GW solar energy target
United Nations, Jan 17 (PTI) UN Secretary-General Antonio Guterres, who has called for a coalition of countries and institutions to provide the needed support to reduce carbon emissions, said that he “understands” the Indian government’s perspective that such a coalition will have some kind of tutoring that New Delhi cannot accept. Guterres, in his virtual [...]
Unlikely that people will move around with masks on forever: Fauci on ‘new normal’
New Delhi/Davos, Jan 17 (PTI) Warning that the COVID-19 pandemic is far from over and Omicron would not be the last variant, global health experts on Monday said a lot would depend on transmissibility and severity of the next mutants of the deadly virus. Speaking at a session on COVID-19 on the first day of [...]
Demand for relaxing partial lockdown measures in tourism sector in Bengal
Kolkata, Jan 17 (PTI) Trade bodies in West Bengal are pressing for relaxation of the partial lockdown measures clamped by the government on the job intensive tourism sector. The travel restriction announced by the Mamata Banerjee government to contain the spread of the disease in the state has severely impacted the state's tourism industry, they [...]
Billions of people still not on internet; affordability is key: Sunil Mittal
New Delhi/Davos, Jan 17 (PTI) Indian conglomerate Bharti Enterprises' Chairman Sunil Bharti Mittal on Monday said billions of people in the world are still not on the internet for which affordability is a key factor. Speaking at a panel discussion on technology cooperation in the fourth industrial revolution at the World Economic Forum's online Davos [...]
Guterres says he’s in close contact with US, UK to support India’s 450 GW solar energy target
United Nations, Jan 17 (PTI) UN Secretary-General Antonio Guterres on Monday said that he has been in “close contact” with the US, the UK and several other countries to ensure there are strong efforts to support India in its attempt to achieve 450 gigawatts of solar energy installed capacity, saying India does not like a [...]
Economic recovery fragile; Low-income countries in disadvantageous position: UN chief
New Delhi/Davos, Jan 17 (PTI) Asserting that the world economic recovery from the COVID-19 pandemic is very fragile and uneven, United Nations Secretary-General Antonio Guterres on Monday said the global financial system has failed the low-income countries when they needed it the most. He also said that rather than indulging in 'blame and shame' in [...]
India’s growth in next 25 years will be clean, green, sustainable and reliable: Modi
New Delhi/Davos, Jan 17 (PTI) Citing India's commitment to deep economic reforms and ease of doing business, Prime Minister Narendra Modi asserted on Monday that this is the best time to invest in the country as policy-making is focussed on the needs for the next 25 years for a 'clean and green' as well as [...]
Industry welcomes PM Modi’s emphasis on clean, green growth
New Delhi, Jan 17 (PTI) Prime Minister Narendra Modi's message to the world on the first day of the WEF's online Davos Agenda 2022 summit reflects his commitment to reforms and to become a reliable and resilient partner for global value chains, India Inc said on Monday. Citing India's commitment to deepen economic reforms and [...]
DoT amends telecom licences to enable machine-to-machine communications
New Delhi, Jan 17 (PTI) The Department of Telecom on Monday amended telecom licences to enable service providers to roll out machine-to-machine communication -- a service which is considered as a key driver of 5G adoption -- in the country. While the DoT had issued M2M guidelines in May 2018, the clause related to their [...]
India’s growth in next 25 years will be clean, green, sustainable and reliable: Modi
New Delhi, Jan 17 (PTI) Citing India's commitment to deep economic reforms and ease of doing business, Prime Minister Narendra Modi on Monday asserted that this is the best time to invest in the country as policy-making is focussed on the needs for the next 25 years for a 'clean and green' as well as [...]
Exports target of USD 650 bn within this fiscal achievable: Goyal
New Delhi, Jan 17 (PTI) Assuring all support to the exporting community, Commerce and Industry Minister Piyush Goyal on Monday said the exports target of USD 650 billion for both goods and services within the current financial year is possible to achieve. He informed that during the current month till January 15, exports have touched [...]
Attrition rates should stabilise in future quarters, to double fresher hiring in FY23: HCL Tech
New Delhi, Jan 17 (PTI) HCL Technologies CEO Vijayakumar on Monday said he expects the rising attrition rates to stabilise in the future quarters as he exuded confidence in the steps being taken by the IT major, including ramping up fresher hiring, to arrest the spike. The company, which expects its fresher hiring to be [...]
Silver worth Rs 40 lakh stolen from Kalyan Jewellers Preet Vihar store
New Delhi, Jan 17 (PTI) Jewellery retailer Kalyan Jewellers on Monday said it has registered an FIR of theft of silver estimated at Rs 40 lakh at the company's Preet Vihar outlet in New Delhi. Though the incident took place on Saturday, it came to light only on Monday after the staff arrived to open [...]
Exports target of USD 650 bn within this fiscal achievable: Goyal
New Delhi, Jan 17 (PTI) Assuring all support to the exporting community, Commerce and Industry Minister Piyush Goyal on Monday said the exports target of USD 650 billion for both goods and services within the current financial year is achievable. He informed that during the current month till January 15, exports have touched USD 16 [...]
Demand for relaxing partial lockdown measures in tourism sector in Bengal
Kolkata, Jan 17 (PTI) Trade bodies in West Bengal are pressing for relaxation of the partial lockdown measures clamped by the government on the job intensive tourism sector and have demanded its relaxation. The travel restriction announced by the Mamata Banerjee government to contain the spread of the disease in the state has severely impacted [...]
Exide Life appoints Sanjay Vij as the ED and Principal Officer
Bengaluru, Jan 17 (PTI) Exide Life has announced the appointment of Sanjay Vij as the Executive Director and Principal Officer with effect from January 10. On January one, 2022, HDFC Life Insurance Company Limited announced the completion of the acquisition of Exide Life Insurance Company Limited, subsequent to receiving all relevant regulatory approvals, an Exide [...]
India’s growth in next 25 years will be clean, green, sustainable and reliable: Modi
New Delhi/Davos, Jan 17 (PTI) Asserting that India is making its policies today while focussing on requirements for not just the present but also for the next 25 years, Prime Minister Narendra Modi on Monday said this period of growth would be 'green and clean' as well as 'sustainable and reliable'. In a special address [...]
India among top attractive destinations for Global Investors: RBI paper
Mumbai, Jan 17 (PTI) India has attracted higher FDI flows and continues to remain among the top attractive destinations for international investors, according to an article published in Reserve Bank of India's monthly bulletin for January 2022. The article has been prepared by Sumit Roy, Financial Inclusion and Development Department, Jolly Roy and Kamal Gupta, [...]
Business briefs
*Cancer-focused healthcare app Karkinos raises $1 mn from Endiya Partners Mumbai, Jan 17 (PTI) Karkinos Healthcare has raised USD 1 million (about Rs 7.4 crore) from venture capital fund Endiya Partners, which invests in technology, healthcare and life-sciences.The fund will be used to strengthen the technology platform and expand the distributed cancer care network, the [...]
Consumer sentiment yet to return to pre-pandemic levels: RBI study
Mumbai, Jan 17 (PTI) Noting that the successive waves of the pandemic have severely dented consumer confidence that hit an all-time low of 48.5 in May 2021 at the peak of the second wave, an RBI bulletin released on Monday said even now the sentiment is yet to return to the pre-pandemic levels. Among the [...]
NEWSALERT
India's growth period of next 25 years will be green and clean, and also sustainable and reliable: PM Modi. PTI BJ KR MR MR
NEWSALERT
India's policies, decision making based not just on present needs, but also on goals of next 25 years: Modi at online Davos Agenda summit. PTI BJ KR MR MR
NEWSALERT
On path to make India self-reliant, our focus not only on making processes easier, but also to incentivise investment and production: Modi. PTI BJ KR MR MR
NEWSALERT
It's best time to invest in India: PM Modi at WEF's online Davos Agenda 2022 summit. PTI BJ KR MR MR
NEWSALERT
India followed vision of 'One Earth, One Health' and provided medicines, vaccines to several countries during COVID-19: Modi at WEF event. PTI BJ KR MR MR
NEWSALERT
India was once known for licence raj; Today, we're encouraging ease of doing business, reducing govt involvement in businesses: PM Modi. PTI BJ KR MR MR
NEWSALERT
India focused on reforms in right way; global experts have praised India's decisions and we will fulfil world's expectations from us: PM. PTI BJ KR MR MR
NEWSALERT
India has given world a bouquet of hope consisting of trust towards democracy, technology to empower 21st century and of talent: Modi. PTI BJ KR BJ MR MR
Securitisation volume growth slows to 8 pc in Dec quarter: Report
Mumbai, Jan 17 (PTI) Securitisation volume growth slowed to around 8 per cent on year to Rs 29,000 crore in the quarter ended December 31, 2021, on higher risk aversion amid the third wave of COVID-19, says a report. The cumulative value of deals executed in the first nine months of this fiscal stood at [...]
RBI buys, sells equal amount of US dollar in November
Mumbai, Jan 17 (PTI) The Reserve Bank of India (RBI) bought and sold the equivalent proportion of the US dollar in November 2021, according to data from the central bank. The RBI purchased USD 8.489 billion from the spot market and sold a similar amount in the market, the monthly RBI Bulletin for January 2022 [...]
SC upholds winding up of Devas Multimedia
New Delhi, Jan 17 (PTI) The Supreme Court on Monday upheld the winding up of Devas Multimedia saying," it is a case of fraud of a huge magnitude which cannot be brushed under the carpet, as a private lis".A bench of Justices Hemant Gupta and V Ramasubramanian dismissed the appeal filed by Devas Multimedia Pvt [...]
Cholamandalam Investment to acquire 72% stake in Payswiff for Rs 450 cr
New Delhi, Jan 17 (PTI) Cholamandalam Investment and Finance Company on Monday said it plans to acquire 72.12 per cent stake in fintech payment solutions provider Payswiff Technologies Private Ltd for Rs 450 crore. The company, an NBFC, is part of the Murugappa Group. Cholamandalam Investment has signed a shareholders' agreement and a Share Purchase [...]
Business highlights
New Delhi, Jan 17 (PTI) Following are the top business stories at 2015 hours: DEL50 BIZ-LD-STOCKS Sensex, Nifty advance on gains in auto, energy stocks Mumbai: Benchmark indices Sensex and Nifty edged higher on Monday following gains in IT, energy and auto stocks amid a firm trend in European markets. DEL52 BIZ-LD-RUPEE Rupee falls by [...]
Govt clears 20 strategic projects under National Technical Textiles Mission
New Delhi, Jan 17 (PTI) The textiles ministry on Monday cleared 20 strategic projects worth Rs 30 crore in the areas of speciality fibres and geo-textiles under the National Technical Textiles Mission. The projects were approved at a meeting chaired by Textiles Minister Piyush Goyal. The 16 projects of speciality fibres approved include five in [...]
MTaI seeks reduction in GST, customs duties on medical devices, cold chain units
New Delhi, Jan 17 (PTI) The Medical Technology Association of India (MTaI) has urged the government to reduce GST and customs duties on medical devices, cold chain units and spare parts used in the healthcare appliances in the upcoming Union Budget. The organisation noted that the reduction of GST on medical devices and medical cold [...]
Lanka to hold talks with Indian Oil to tide over energy crisis
Colombo, Jan 17 (PTI) Sri Lanka will hold talks with the Indian Oil Corporation on Tuesday as part of a desperate measure to tide over the current fuel and energy crisis faced by the island nation, Power Minister Gamini Lokuge said on Monday. Lokuge said that the talks with the Indian Oil Corporation’s local entity [...]
Paytm issues over 4.5 lakh FASTags in Dec
New Delhi, Jan 17 (PTI) Paytm Payments Bank on Monday said it issued over 4.5 lakh FASTags in December 2021, registering 11.33 per cent rise as compared to the previous month. Paytm Payments Bank Ltd (PPBL) claims to have led the market in the FASTag segment with 28.2 per cent market share. The firm said [...]
India needs Green Revolution 2.0 to make agri more climate-resistant, sustainable: RBI
Mumbai, Jan 17 (PTI) India needs a second green revolution along with the next generation of reforms with a view to make agriculture more climate-resistant and environmentally sustainable, said an RBI article on farm sector challenges. Observing that Indian agriculture has exhibited remarkable resilience during the COVID-19 period, the article said "new emerging challenges warrant [...]
Increase fund allocation for adolescents’, elderly’s health in upcoming budget: NGOs
New Delhi, Jan 17 (PTI) NGOs have urged the government to increase the allocation of funds for health and nutrition for adolescents and elderly in the upcoming budget. In its survey conducted among 5000 old people across the country, Agewell Foundation found that the budgetary provisions can address the issues concerning them to a larger [...]
IRFC garners USD 500 mln through green offshore bonds; lists bonds at GIFT City
New Delhi, Jan 17 (PTI) Indian Railway Finance Corporation Limited (IRFC), the dedicated market borrowing arm of the Indian Railways, has raised USD 500 million (about Rs 3,500 crore) through issuance of green offshore bonds. IRFC is the first Central Public Sector Enterprise (CPSE) to list its offshore bonds exclusively at Indian stock exchanges established [...]
PNB raises Rs 1,971 cr through bonds
New Delhi, Jan 17 (PTI) State-owned Punjab National Bank (PNB) on Monday said it has garnered Rs 1,971 crore through additional tier-1 bonds, to fund business growth. The bank has issued and allotted Basel-III-compliant additional tier-1 (AT-1) bonds at a coupon of 8.50 per cent per annum aggregating to Rs 1,971.00 crore on a private [...]
Commercial vehicle industry may perform significantly better this year: Mahindra Group official
Mumbai, Jan 17 (PTI) The commercial vehicle industry is expected to perform "significantly" better this year as against the last financial year, with a strong double-digit growth, a top Mahindra Group executive has said. He also said intermediate commercial vehicle (ICV) and light commercial vehicle (LCV) segments are likely to do better, as the Q3 [...]
Marketcap of BSE-listed companies Jumps to all-time high of over Rs 280 lakh cr
New Delhi, Jan 17 (PTI) Market capitalisation of BSE-listed companies jumped to an all-time high of over Rs 280 lakh crore on Monday as benchmark indices bounced back after taking a breather in the previous trade. The 30-share BSE benchmark gained 85.88 points or 0.14 per cent to settle at 61,308.91. During the day, it [...]
MGR-COMML-ARECA-COCONUT-PRICES
Mangaluru, Jan 17 (PTI) Following are Monday's areca and coconut prices: Areca (Rs per quintal) Old Supari: Rs 48,000 to Rs 53,000; model Rs 50,000 New Supari: Rs 40,000 to Rs 45,000; model Rs 43,000 Koka: Rs 35,000 to Rs 39,500; model Rs 37,500 -------------------------- Coconut (Rs per thousand) 1st quality: Rs 18,000 to Rs [...]
BGE-COMML-BULLION-CLOSE
Bengaluru, Jan 17 (PTI) Closing bullion rates on Monday: Standard gold [99.5 purity] - Rs 49,670 per 10 grams Ornament gold - Rs 4,632 per gram Silverspot [.999 fineness] - Rs 63,400 per kg. PTI DVR HDA HDA
Joint efforts only way to fight pandemic; blame game will delay our response: Xi Jinping
New Delhi/Davos, Jan 17 (PTI) Chinese President Xi Jinping on Monday called for joint efforts to overcome the COVID-19 pandemic while ensuring fair distribution of vaccines and expedited inoculation across the world, even as he warned against any blame game and the Cold War mentality in an apparent reference to the US. He said that [...]
Industry body seeks Odisha CM’s intervention to ensure coal supplies to MSMEs
Bhubaneswar, Jan 17 (PTI) The Odisha Assembly of Small and Medium Enterprises on Monday sought Chief Minister Naveen Patnaik’s intervention to ensure coal supply for industries operating in the state.“The continuing coal shortage due to stoppage/curtailment of coal supplies and rakes has threatened the very survival of local industries with the risk of loss of [...]
Strides Pharma’s Singapore arm gets USFDA nod for generic version of oseltamivir phosphate
New Delhi, Jan 17 (PTI) Strides Pharma Science Ltd on Monday said its Singapore-based arm has received approval from the US health regulator for its generic version of oseltamivir phosphate for oral suspension, used for treating illness due to influenza. The approval granted by the US Food & Drug Administration (USFDA) to Strides Pharma Global [...]
Tech Mahindra acquires European tech firm for EUR 310 mn
New Delhi, Jan 17 (PTI) IT company Tech Mahindra on Monday announced the acquisition of 100 per cent stake in Europe-based Com Tec Co IT (CTC) and 25 per cent stake in two insurtech platforms for a total of EUR 330 million (about Rs 2,800 crore). The company said the acquisitions will strengthen its digital [...]
India’s overall economic activity remains strong, says RBI article
Mumbai, Jan 17 (PTI) India's overall economic activity remains strong, driven by an upbeat consumer confidence and uptick in bank credit, and expectations that Omicron may turn out to be a "flash flood rather than a wave" have further brightened the prospects, according to a RBI article. "On the vaccination front, India has made rapid [...]
Unlikely that people will move around with masks on forever: Fauci on ‘new normal’
New Delhi/Davos, Jan 17 (PTI) Warning that the COVID-19 pandemic is far from over and Omicron would not be the last variant, global health experts on Monday said a lot would depend on transmissibility and severity of the next mutants of the deadly virus. Speaking at a session on COVID-19 on the first day of [...]
Metro AG bullish on India business, says to continue expanding in India
New Delhi, Jan 17 (PTI) Germany's cash-and-carry major Metro AG on Monday said it is bullish on its India business and continues to expand store and e-commerce footprint, amid reports that it is reviewing whether to continue its operations in India. While declining to comment on its future in India, stressing that Metro regularly assesses [...]
Standalone Q3 results of Vishwaraj Sugar Industries Net Profit Plunged by 3.35%
According to Vishwaraj Sugar Industries’ Q3 results, in December 2021, on a standalone basis, its Q3 net profit skid by 3.34% from Rs. 30.46 crores in December 2020 to 29.44 crores in December 2021. This was despite its total revenue surging by 62.06% from Rs. 82.79 crores in December 2020 to Rs. 134.17 crores in [...]
‘3rd wave has airlines flying into deep-red with Rs 20K-cr net losses this year’
Mumbai, Jan 17 (PTI) Hit by the third wave of the COVID-19 pandemic and soaring fuel prices, airlines are flying towards record losses with a likely loss of a whopping Rs 20,000 crore for the full fiscal year, warns a report. The airlines are flying towards their steepest-ever net loss of over Rs 20,000 crore [...]
Business briefs
*Colliers India appoints two executive directors to strengthen project management biz New Delhi, Jan 17 (PTI) Real estate consultant Colliers India on Monday announced the appointment of two executive directors to strengthen its project management business. Jagadish Mahendran, who has 22 years of experience, joins Colliers as Executive Director, Project Management (Greenfield), Karnataka. With a [...]
Flipkart Wholesale to reorganise biz operations; some staff to transition to Flipkart into new roles
New Delhi, Jan 17 (PTI) Flipkart Wholesale, the B2B arm of the Flipkart Group, on Monday said it will reorganise its business operations, wherein a section of its employees will transition to Flipkart into new roles and responsibilities at the group level. As part of the reorganisation, all employees of Flipkart Wholesale – other than [...]
Power sector employees to go on 2-day strike in Feb: AIPEF
New Delhi, Jan 17 (PTI) The All India Power Engineers Federation (AIPEF) on Monday said that around 15 lakh power sector employees will go on nationwide strike for two days from February 23 to protest against privatisation. "National Coordination Committee of Electricity Employees & Engineers (NCCOEEE) has decided to resort to two days nationwide strike [...]
Joint efforts only way to fight pandemic; blame game will delay our response: Xi Jinping
New Delhi/Davos, Jan 17 (PTI) Chinese President Xi Jinping on Monday called for joint efforts to overcome the COVID-19 pandemic while ensuring fair distribution of vaccines and expedited inoculation across the world, even as he warned against any blame game and the Cold War mentality in an apparent reference to the US. He said that [...]
Dada Saheb Phalke International Film Festival Awards 2022
January 17: The next edition of the prestigious Dadasaheb Phalke International Film Festival (DPIFF) Awards will once again be associated with Madhya Pradesh Tourism. The final date of the eminent event was announced at the glittering Press Conference in Mumbai on January 15. Shri Sheo Shekhar Shukla, Principal Secretary, Tourism & Managing Director, Madhya Pradesh [...]
Maruti Suzuki drives in Celerio S-CNG trim at Rs 6.58 lakh
New Delhi, Jan 17 (PTI) Maruti Suzuki India (MSI) on Monday said it has launched the CNG variant of Celerio in the country at a price of Rs 6.58 lakh (ex-showroom Delhi). Powered by next-generation K-Series 1.0L engine, the all-new Celerio with S-CNG technology delivers a mileage of 35.60 km/kg and has a CNG tank [...]
China’s economy grows by 8.1 per cent in 2021 amidst challenges posed by pandemic
Beijing, Jan 17 (PTI) China's economy grew by 8.1 per cent in 2021 to about USD 18 trillion, stated to be the best by the world's second largest economy in a decade, amidst challenges, including sporadic epidemic resurgences and a complicated external environment, the government said on Monday. The country's GDP expanded 8.1 per cent [...]
Govt reaps over Rs 6,600 cr as dividend from dozen CPSEs
New Delhi, Jan 17 (PTI) The government has received about Rs 6,600 crore as dividend tranches from a dozen Central Public Sector Enterprises (CPSEs), including GAIL, NMDC and Power Grid. "Government has received about Rs 972 crore and Rs 2506 crore from Nuclear Power Corporation of India Limited (NPCIL) and Power Grid Corporation of India [...]
SJVN’s 1,320-MW Buxar Thermal Power Plant enters advanced construction phase
New Delhi, Jan 17 (PTI) State-owned SJVN Ltd on Monday said its 1,320-MW Buxar Thermal Power Plant has entered the advanced construction phase. "SJVN's 1,320-MW Buxar Thermal Power Project in Bihar achieved another milestone today (on Monday) with Jacking up of ceiling girder (1,400 tonnes) for first boiler unit," SJVN said in a statement. The [...]
Two-day strike by knitwear industry in Tirupur begins over high yarn prices
Coimbatore, Jan 17 (PTI) The knitwear industry in nearby Tirupur began a two-day strike on Monday in protest against the high yarn prices prevailing for the last 15 months and to bring it to the attention of the Centre. Almost all industries related to readymade garment manufacturing like knitting, dyeing and printing, also downed their [...]
Third COVID wave undoes gains of biz resumption achieved last year: Report
Mumbai, Jan 17 (PTI) The fast-spreading third wave of COVID-19 has undone the gains achieved due to resumption of business since the end of the lethal second wave last year, a Japanese brokerage said on Monday. The Nomura India Business Resumption Index, which compares activity against the pre-pandemic levels of March 2020, fell to 102.9 [...]
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