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Solar energy stock hits 5% upper circuit after Ashish Kacholia and Mukul Agrawal bought fresh stake
The shares of this smallcap locked a 5 percent upper circuit after the board announced a preferential issue of 2,43,24,313 equity shares to certain allottees, including prominent investors Ashish Rameshchandra Kacholia and Mukul Agrawal. Price Movement: With a market capitalization of Rs. 1,536 crores, the shares of Ravindra Energy Ltd started Wednesday’s trading session on [...]
Damani stock hits 5% upper circuit after receiving order worth ₹ 5.9 Cr for supplying specialty chemicals
Specialty stock held by Ramesh Damani, engaged in manufacturing Specialty Chemicals, Intermediates & API hit a 5 percent upper circuit in the day’s trade upon receiving a new work order worth Rs. 5.9 Crores. Price Action With a market capitalization of Rs. 91.27 Crores, the shares of Vadivarhe Specialty Chemicals Limited hit a 5 percent [...]
Waste management stock jumps after signing MoU to acquire recycling plant in Europe
During Wednesday’s trading session, the shares of a leading recycling company surged 2.5 percent to Rs. 2,348 on BSE, after the company announced entering into a Memorandum of Understanding (MoU) to acquire a rubber recycling plant in Europe. With a market capitalisation of Rs. 15,465.5 crores, the shares of Gravita India Limited opened in the [...]
Stock hits upper circuit after it receives order from Canada for 2,000 lab grown diamonds
The shares of the diamond manufacturer hit 2 percent upper circuit at Rs 129.00 apiece after the company received a prestigious order for 2,000 pieces of lab-grown diamond. With a market capitalization of Rs 46.01 crore, the shares of Mini Diamonds (India) Ltd were trading at Rs 128.90 per share, increasing around 1.9 percent as [...]
Defence stock jumps 5% after it signs MoU with Astra Microwave Products
Shares of this defence stock engaged in the manufacturing of industrial explosives and detonators hit a 5 percent upper price band after signing a Memorandum of Understanding (MOU) with Astra Microwave Products Limited to develop and sell multiple products jointly. Share price movement In Wednesday’s trading session, the shares of Premier Explosives Limited hit a [...]
IT stock jumps 4% after it sets record date for 1:4 bonus issue
The shares of the engineering solution provider gained up to 4 percent after the company’s board fixed the record date for the issue of bonus shares in the ratio of 1:4. With a market capitalization of Rs 970.73 crore, the shares of Mindteck (India) Ltd were trading at Rs 381.00 per share, increasing around 3 [...]
Auto stock hits 5% upper circuit after it forays into semiconductor business
Hidden Gem Stock which is the largest global producer of interactive media content for the automotive industry and engaged in providing automotive retail solutions for dealerships worldwide, hits a 5 percent upper circuit in the day’s trade upon foraying into the Semiconductor business. Price Action With a market capitalization of Rs. 579 Crores, the shares [...]
Dolly Khanna stock jumps after signing JV agreement to recycle used tyres in South Africa
During Wednesday’s trading session, the shares of one of the largest recyclers of End of Life Tyres (ELT) in Asia surged nearly 1.8 percent to Rs. 1,744 on BSE, after the company announced entering into a Joint Venture Agreement in Sou th Africa. With a market capitalisation of Rs. 2,901.7 crores, the shares of Tinna [...]
Solar energy stock jumps 9% after receiving orders worth ₹ 27.65 Cr from Suzlon Energy
Solar Energy stock engaged in providing integrated engineering, procurement, construction, and commissioning services for solar, wind energy, and other projects jumped upto 9 percent in the day’s trade upon receiving multiple work orders from Suzlon Energy Limited worth Rs. 27.65 Crores Price Action With a market capitalization of Rs. 421 Crores, the shares of Winsol [...]
Tata group stock falls 6% after it gets sell call for downside of more than 15%
India's Passenger Cars and Utility Vehicles sector is a key driver of the automotive industry, accounting for over 13% of GDP. In FY 2023, over 3.9 million passenger cars and 1.6 million utility vehicles were sold. Rising incomes and urbanization fuel demand, positioning India as a major global market. With a market capitalization of Rs [...]
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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 [...]
Latest Market News
National Startup Day validates role of startups in growth of economy
New Delhi, Jan 16 (PTI) National Startup Day is a validation of the role of startups in the growth of the country's GDP and strengthening India's position at a global stage, and will encourage young talent to see entrepreneurship as a primary career option, according to industry experts. On Saturday, Prime Minister Narendra Modi announced [...]
IOC to invest Rs 7,000 cr in city gas after it secures 33% market potential areas
New Delhi, Jan 16 (PTI) Indian Oil Corporation (IOC), the nation's largest oil firm, on Sunday said it will invest over Rs 7,000 crore in setting up city gas distribution networks in the cities for which it has secured a licence in the latest bidding round. IOC secured 33 per cent of the demand potential [...]
NCPCR chief calls for more taxes on tobacco products, OTT, films displaying their use
New Delhi, Jan 16 (PTI) National Commission for Protection of Child Rights (NCPCR) chairperson Priyank Kanoongo has advocated increasing taxes on tobacco products as well as on films, OTT platforms and other media that display use of such items in any form. He said affordability and easy availability of lethal tobacco products is harmful, especially [...]
Favourable policy helping start-ups in Karnataka: Minister
Bengaluru, Jan 16 (PTI) Extolling the start-up policy of Karnataka, the state Minister for IT-BT and Skill Development Dr C N Ashwath Narayan on Sunday said that out of 46 start-ups chosen from across India for the National Start-ups Awards-2021, 14 are from Karnataka. Addressing a press conference on the achievements of start-ups from Karnataka [...]
PMC Bank merger with Unity Small Finance Bank awaits govt approval
New Delhi, Jan 16 (PTI) The proposed merger of debt-ridden Punjab and Maharashtra Cooperative Bank with Unity Small Finance Bank (USFB) is being examined and the process of amalgamation will start after the government approval, sources said. Various aspects of the scheme of amalgamation have been examined and the government would soon send its suggestions, [...]
Less than one-third of people get flight cancellation refund amid pandemic: Report
Mumbai, Jan 16 (PTI) Less than one-third of the people who cancelled their flights owing to the emergence of the Omicron variant-led third pandemic wave were able to receive refunds, according to an online survey.For those who were forced to cancel their hotel bookings on account of the same reason, 34 per cent of people [...]
CSC launches Yogyata app to impart skill-based vocational education to rural youth
New Delhi, Jan 16 (PTI) Common Services Centers (CSC) has launched the ''Yogyata'' mobile phone application to provide vocational education and skill enhancement opportunities to youth and citizens in rural areas.The Yogyata app will leverage CSCs massive reach and penetration in the target group while providing an opportunity to access courses that add skills and [...]
Swadeshi Jagran Manch opposes direct listing overseas
New Delhi, Jan 16 (PTI) Amid a clamour for allowing direct listing of Indian unicorns in overseas market without listing on domestic bourses, Swadeshi Jagran Manch (SJM) has said the remedy is worse than the disease as Indian authorities will not just lose the oversight but also the right to tax gains accruing from businesses [...]
Sunteck Realty to launch 7 bprojects with Rs 22k-crore revenue potential in next 5-8 yrs
Mumbai, Jan 16 (PTI) Sunteck Realty is on a Rs 22,000-crore potential revenue path by launching seven projects in and around the Mumbai metropolitan region over the next five to eight years.These projects are expected to make it one of the largest realtors in terms of the topline.The realty firm has built the first uber [...]
Budget could consider levying TDS/TCS on crypto trading, make it reportable in SFT
New Delhi, Jan 16 (PTI) The government could consider in the upcoming Budget levying TDS/TCS on sale and purchase of cryptocurrencies above a certain threshold and such transactions should be brought within the ambit of specified transactions for the purpose of reporting to income tax authorities, Nangia Andersen LLP Tax Leader Aravind Srivatsan said. Also, a [...]
Mall owners likely to offer relief to retail stores, food outlets, multiplexes amid pandemic: SCAI
New Delhi, Jan 16 (PTI) Industry body SCAI on Sunday said mall owners will stand by their tenants as they did in the last two waves and are likely to offer relief to retail stores, food outlets and multiplexes amid the fresh COVID pandemic wave.Shopping Centres Association of India (SCAI) is an industry body, representing [...]
Coworking firms take on lease 21% more office space in 2021; provide nearly 79k desks to corporates
New Delhi, Jan 16 (PTI) Co-working operators expanded their portfolio aggressively last year and took on a lease 21 per cent more office area across the top 8 cities to meet the rising demand of flexible workspaces from corporates amid the COVID pandemic, according to Cushman & Wakefield.The leasing of office spaces by co-working operators [...]
IPO-bound India1 Payments aims to deploy 20,000 ATMs in next 4-5 yrs
New Delhi, Jan 16 (PTI) IPO-bound India1 Payments Ltd, which is currently rolling out 300-400 ATMs in a month, is hopeful of deploying over 20,000 such machines in next 4-5 years to ensure cash availability to customers in semi-urban and rural areas, its MD and CEO K Srinivas said on Sunday. "The hike in interchange fees by [...]
GAIL director arrested by CBI in bribery case
New Delhi, Jan 16 (PTI) The CBI has arrested E S Ranganathan, Director (Marketing) of GAIL, in a case of alleged bribery of over Rs 50 lakh for giving discounts to private companies buying petrochemical products marketed by the Maharatna PSU, officials said Sunday The CBI had unearthed the alleged bribery scam involving Ranganathan, middlemen, [...]
West Bengal govt assesses crop damage due to unseasonal rain
Kolkata, Jan 16 (PTI) The West Bengal government has started an exercise to assess crop damage due to recent unseasonal rain and advise farmers to take necessary steps to protect their produce from pest attacks, a minister said. State agriculture minister Sobhandeb Chattopadhyay stated that his department is monitoring the situation so that there would [...]
Aditya Birla Fashion faces data breach on its portal
New Delhi, Jan 16 (PTI) Aditya Birla Fashion and Retail Ltd (ABFRL) is facing a data breach on its portal, and the company is investing the incident. Meanwhile, the company has assured that it will have no operational or business impact on its operations. The company has engaged forensic security experts to investigate the data [...]
Metro Brands Q3 net profit jumps 54.6% to Rs 100.85 cr
New Delhi, Jan 16 (PTI) Footwear retail chain Metro Brands has reported a 54.63 per cent jump in consolidated net profit to Rs 100.85 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 65.22 crore during the October-December quarter of the previous fiscal, Metro Brands Ltd (MBL), [...]
PV exports from India rise 46% in April-Dec 21; Maruti Suzuki leads Segment
New Delhi, Jan 16 (PTI) Passenger vehicle exports from India increased 46 per cent in the first nine months of the current fiscal year, with Maruti Suzuki India leading the segment with dispatches of around 1.68 lakh units, as per the latest data by SIAM. The total passenger vehicle (PV) exports stood at 4,24,037 units [...]
Life insurers seek separate bucket for life insurance premium, tax-free annuity in Budget
New Delhi, Jan 16 (PTI) The life insurance industry has recommended the government to create a separate bucket for tax rebate under section 80 (C) and make annuity tax-free for the benefit of subscribers as part of its demand for the next Union Budget to be unveiled in February.The Rs 1,50,000 limit for tax rebates [...]
Goa favourite destination for Indian travellers this year: OYO survey
New Delhi, Jan 16 (PTI) A majority of Indians would prefer to go local and explore domestic destinations instead of international ones this year with Goa topping the bucket list followed by Manali, according to OYO Travelopedia. OYO Travelopedia, the annual consumer survey by OYO to study travel intent and expectations among its user base [...]
FICCI seeks zero customs duty on ferronickel; higher import levy on stainless steel flat products in Budget
New Delhi, Jan 16 (PTI) Ahead of the Union Budget, industry body FICCI has requested the government to reduce the basic customs duty (BCD) on ferronickel to zero and levy a higher duty of 12.5 per cent on the import of stainless steel flat products.Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget [...]
Mercedes-Benz aims accelerating sales of EVs in India
New Delhi, Jan 16 (PTI) With plans afoot to locally assemble its all-electric sedan EQS in India, luxury carmaker Mercedes-Benz is looking to accelerate sales of electric vehicles in the country, according to a senior company official. Mercedes-Benz India plans to bring to the market the locally assembled EQS electric sedan in the fourth quarter [...]
Power consumption grows 1.5% in first fortnight of January amid third COVID wave
New Delhi, Jan 16 (PTI) India's power consumption grew marginally at 1.5 per cent in the first fortnight of January to 49.34 billion units (BU) compared to the same period a year ago, showing the impact of local restrictions imposed by states amid the third wave of COVID-19. During January 1 to 14 in 2021, [...]
India’s overall Macroeconomic situation on Recovery mode but facing stagflation: Former World Bank Economist
New Delhi, Jan 16 (PTI) India's overall macroeconomic situation is in a recovery mode but the growth is concentrated at the top end, which is a worrying trend, according to former World Bank Chief Economist Kaushik Basu. Amid the rising inflationary trends, including the sharp increase in retail inflation last month, Basu, who has also [...]
Oil India exits US shale venture, sells 20% stake for USD 25 mn
New Delhi, Jan 16 (PTI) State-owned Oil India Ltd (OIL) has exited from a US shale oil venture, selling its 20 per cent stake to its venture partner for USD 25 million -- the second exit of an Indian firm from the US shale business in two months. "Oil India (USA) Inc (wholly owned subsidiary [...]
Earnings to guide Market Momentum this week: Analysts
New Delhi, Jan 16 (PTI) The stock market's momentum will be guided by the ongoing quarterly earnings season, with Reliance Industries, HUL and Bajaj Finance among those scheduled to announce their results this week, analysts said. Focus would also remain on the COVID situation, global stock markets, investment pattern of foreign institutional investors (FIIs), rupee-dollar [...]
Aviation turbine fuel (ATF) price hiked by 4.2%
New Delhi, Jan 16 (PTI) Jet fuel or ATF price on Sunday was hiked by 4.2 per cent - the second increase in rates this month warranted by firming international oil prices, but petrol and diesel prices remained unchanged for the 72nd day in a row. Aviation turbine fuel (ATF) price was hiked by Rs [...]
Eight of top-10 firms add Rs 2.34 Lakh Cr in Marketcap; Reliance Industries Biggest Gainer
New Delhi, Jan 16 (PTI) Eight of the 10 most valued companies together added a whopping Rs 2,34,161.58 crore in market valuation last week, with RIL, Infosys and TCS emerging as the lead gainers. The 30-share BSE benchmark Sensex last week zoomed 1,478.38 points or 2.47 per cent. The market valuation of Reliance Industries Limited [...]
NARCL chief to assist RBL Bank in finding full-term MD and CEO; headhunter EgonZehnder also roped in
New Delhi, Jan 15 (PTI) RBL Bank has inducted NARCL Chairman Pradip Shah as an external expert to assist its search panel in finding a full-time MD and CEO, after the removal of Vishwavir Ahuja from the post last month. Global headhunting firm EgonZehnder has also been roped in for the exercise. Currently, Rajeev Ahuja [...]
Union minister inaugurates country’s first coal to methanol plant built by BHEL
Hyderabad, Jan 15 (PTI) Union Minister for Heavy Industries Mahendra Nath Pandey on Saturday dedicated India’s first BHEL-built 'coal to methanol' (CTM) pilot plant to the nation here, as part of the ongoing 'Azadi Ka Amrit Mahotsav' celebrations, an official release said. Pandey also inaugurated an exhibition on ‘Products Developed under Aatmanirbhar Bharat’ organised at [...]
CBI books GAIL director in alleged bribery case, carries out searches
New Delhi, Jan 15 (PTI) The CBI has booked E S Ranganathan, director (marketing) of public sector undertaking GAIL, and others in connection with an alleged bribery case, officials said Saturday. Following the registration of the case, CBI teams carried out searches at several locations in Delhi-NCR including the residence of Ranganathan, they said. PTI [...]
Brilloca to acquire building products manufacturing biz of HSIL for Rs 630 cr
New Delhi, Jan 15 (PTI) Brilloca, a wholly-owned subsidiary of Somany Home Innovation Ltd (SHIL), on Saturday said it will acquire building products manufacturing business of HSIL Ltd in a slump sale for a cash consideration of Rs 630 crore. Currently engaged in marketing and distribution of building products such as sanitaryware, faucets, plastic pipes [...]
India’s economic package has given Sri Lanka breathing space, need to seek bailout from IMF, says top Lankan economist
Colombo, Jan 15 (PTI) India’s financial package has prevented Sri Lanka from spiralling into a major economic tailspin for the time being, top economist WA Wijewardena said on Saturday, but warned that the Gotabaya Rajapaksa regime would need to seek an immediate bailout from the IMF to tide over the foreign exchange shortage grappling the [...]
Power min revises norms for pro-actively setting up EV charing infra
New Delhi, Jan 15 (PTI) The power ministry has unveiled revised norms to support creation of electric vehicle charging infrastructure, with an aim to enable a faster adoption of EVs in the country by ensuring safe, reliable ecosystem. The revised guidelines include allowing EV owners to charge them at their residence/offices using their existing electricity [...]
RIL unit, Hyundai, Mahindra among 10 cos to bid under PLI scheme for ACC battery storage
New Delhi, Jan 15 (PTI) RIL subsidiary Reliance New Energy Solar, Hyundai Global Motors, Ola Electric, Mahindra & Mahindra and Larsen & Toubro are among the 10 firms that have submitted bids under the Rs 18,100 crore production linked incentive (PLI) scheme for Advanced Chemistry Cell (ACC) battery storage, the government said on Saturday. A [...]
HDFC Bank net profit rises 18% to Rs 10,342 cr in Q3
New Delhi, Jan 15 (PTI) The country's largest private sector HDFC Bank on Saturday reported an 18.1 per cent rise in its standalone net profit at Rs 10,342.20 crore for the quarter ended December 2021, helped by healthy non-interest income and fall in bad loans provisioning. The bank had registered a net profit of Rs [...]
Spread of Omicron cases may disrupt global supply chain: EEPC India
Kolkata, Jan 15 (PTI) Engineering Export Promotion Council of India has expressed concern that the spread of Omicron, the new variant of coronavirus, may once again disrupt the global supply chain, which could lead to a slowdown in trading activities. Exports of engineering goods registered a 38 per cent year-on-year growth in December, 2021 to [...]
KOLKATA BULLION CLOSING
Kolkata,Jan.15(PTI): SILVER RDY.(BAR) : Rs.61,750.00(62,350.00) Per Kg.SILVER RDY.(PORTION) : Rs.61,850.00(62,450.00) Per Kg.GOLD (24-CARAT) RDY. : Rs.48,650.00(48,800.00) Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.46,150.00(46,300.00) Per 10 Gms.HALLMARKED GOLD(22-CARAT) RDY. : Rs.46,850.00(47,000.00) Per 10 Gms. ---- PTI SAM
Amar Chitra Katha becomes Future group subsidiary post conversion of debentures into equity
New Delhi, Jan 15 (PTI) Future group's stake in Amar Chitra Katha Pvt Ltd (ACKPL) has increased to 68.72 per cent post conversion of debentures into equity. After the conversion, Future Consumer Ltd holds a majority stake in ACKPL, the publishers of Amar Chitra Katha comics, said a regulatory filing by the Future group firm. [...]
Industrial, warehousing space leasing up 35% in 2021; new supply rises 64%: Report
New Delhi, Jan 15 (PTI) Leasing of industrial and warehousing spaces across eight major cities went up by 35 per cent during 2021 to 35.1 million square feet, driven by higher demand from third-party logistics and e-commerce players, according to Savills India. The leasing stood at 26 million square feet in the previous calendar year. [...]
PM calls for innovating for India, from India
New Delhi, Jan 15 (PTI) Prime Minister Narendra Modi on Saturday called for innovating for India and from India to tackle challenges facing the country as he counted steps taken by the government in freeing entrepreneurs and innovation from bureaucratic silos. "Our startups are changing the rules of the game. I believe that startups are [...]
Praveen Khandelwal resigns from ONDC Advisory Council
New Delhi, Jan 15 (PTI) The Confederation of All India Traders (CAIT) on Saturday said its Secretary General Praveen Khandelwal has resigned as a member of ONDC Advisory Council. The council has been constituted to advise the government on measures needed to design and accelerate adoption of Open Network for Digital Commerce (ONDC). The Department [...]
BGE-COMML-VEGETABLES
Bengaluru, Jan 15 (PTI) Following are Saturday's vegetable rates quoted at Agriculture Produce Marketing Committee (APMC) with the rates per quintal: Cauliflower 1000-4000, Brinjal 350-3000, Tomato 250-5500, Bitter Gourd 1000-5000, Bottle Gourd 600-2400, Ash Gourd 1000-2000, Green Chilli 380-8000, Banana Green 1000-2900, Beans 150-5000, Green Ginger 1000-5000, Carrot 2000-8500, Cabbage 500-6000, Ladies Finger 200-6000, Snake [...]
BGE-COMML-MARKETS-NOTE
Bengaluru, Jan 15 (PTI) Saturday's Bengaluru commodities and Mangalore areca-coconut markets remain closed for Makar Sankranti, a government holiday. PTI DVR HDA HDA
NEWSALERT
HDFC Bank posts 18% rise in standalone net profit to Rs 10,342.20 cr in December 2021 quarter: Company filing. PTI KPM MKJ
Goa Eyes Investment Opportunities from India Pavilion
The smallest state of India is emerging as one of the fastest-growing with its business-friendly policies Dubai, United Arab Emirates (NewsVoir) The state of Goa is ready to showcase its tourism prowess and business opportunities available in the state to global investors during its participation at India Pavilion in EXPO2020 Dubai. The state’s floor was [...]
NEWSALERT
I assure you that all your suggestions, ideas, innovations will get full support of government: PM to startups. PTI SR RR MKJ
NEWSALERT
Investment in R&D for future technologies is a priority for government: Prime Minister Narendra Modi. PTI SR RR MKJ
NEWSALERT
We will move forward with mantra of 'Let's Innovate for India, Innovate from India': Prime Minister. PTI SR RR MKJ
NEWSALERT
Startups are going to be backbone of new India: Prime Minister Narendra Modi. PTI SR RR MKJ
KOLKATA BULLION OPENING
Kolkata, Jan.15(PTI): SILVER RDY.(BAR) : Rs.62,350.00 Per Kg.SILVER RDY.(PORTION) : Rs.62,450.00 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
NEWSALERT
Number of patents granted has risen to 28,000 last year from 4,000 in 2013-14. Prime Minister Narendra Modi. PTI SR RR MKJ
Minimum 6 airbags to be made mandatory in vehicles carrying up to 8 passengers from Oct: MoRTH
New Delhi, Jan 15 (PTI) The road transport ministry has said it will make it mandatory for carmakers to provide a minimum of six airbags in motor vehicles that can carry up to 8 passengers for enhanced safety of occupants from October this year. The Ministry of Road Transport and Highways (MoRTH) in a statement said [...]
Jubilant FoodWorks board to consider share split proposal
Jubilant FoodWorks (JFL), a master franchise of brands such as Domino's and Dunkin' Donuts, on Friday said its board will next month consider a proposal of splitting the equity shares of the firm. The board, in its scheduled meeting to be held on February 2, 2022, will consider a proposal for "alteration in the capital [...]
Maruti Suzuki hikes vehicle prices by up to 4.3% to offset rise in input costs
New Delhi, Jan 15 (PTI) The country's largest carmaker Maruti Suzuki India (MSI) on Saturday said it has increased prices of its models by up to 4.3 per cent with immediate effect to partially offset the impact of the rise in input costs. The company has enhanced prices across its models in the range of [...]
GST officers arrest individual for issuing fake invoices worth Rs 4,521 cr
(PTI) GST officers have arrested one person for operating a syndicate and issuing fake invoices of Rs 4,521 crore for availing input tax credit (ITC) benefit under goods and services tax, an official statement said on Friday. It said scrutiny of tally data has shown that there are 636 firms being operated by this syndicate [...]
Megha Engineering, Adani Total Gas top winners of city gas distribution licences
Megha Engineering and Infrastructures Ltd (MEIL) walked away with the most 15 licences to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round, while a joint venture of billionaire Gautam Adani's gas arm and Total of France got 14 licences. According to the results of the bid [...]
The IIHM International College of Distinguished Fellows confers the Fellow of IIHM to 60 Global Hospitality Leaders at Second Convocation Ceremony
NEW DELHI, Jan. 14, 2022 /PRNewswire/ -- The Hospitality industry has displayed immense strength and resilience through the pandemic. The stalwarts associated with this industry have shown their wholehearted dedication and passion towards their work and serving society. Across the world, this zeal among Hospitality professionals has inspired others to follow in their footsteps. To [...]
Mumbai: First OSD span of Trans-Harbour Link launched
Mumbai, Jan 14 (PTI) The first Orthotropic Steel Deck (OSD) span of the Mumbai Trans-Harbour Link (MTHL) project, which will link south Mumbai with Navi Mumbai, was launched successfully on Friday, officials said.The span, 119 meters in length, weighs 1,331 metric tons, said a release by the Mumbai Metropolitan Region Development Authority (MMRDA).It was part [...]
Delhi Customs officers arrest 2 for smuggling gold, fake currency
New Delhi, Jan 14 (PTI) Customs officers have arrested two persons for smuggling gold worth Rs 7.5 lakh and Rs 10 lakh in fake currency, the finance ministry said on Friday. On January 12, Customs officers at the Delhi Airport intercepted one Indian passenger who arrived from the UAE. "The Customs officers recovered 24 (Twenty [...]
Sequent Scientific names Rajaram Narayanan as MD, CEO
New Delhi, Jan 14 (PTI) Sequent Scientific, an animal health firm, on Friday said it has appointed Rajaram Narayanan as MD and CEO for five years, with effect from April 11, 2022. Narayanan replaces Manish Gupta who has put in his papers. The company's board, pursuant to the recommendation by the nomination and remuneration committee, [...]
Pak launches National Security Policy; plans to tackle economic woes
Islamabad, Jan 14 (PTI) Pakistan launched its first-ever National Security Policy on Friday, showing that the country plans to reduce strategic challenges by fixing the chronic issue of imbalances in the external payments and domestic anger by reducing the gap between the rich and poor.Section IV of the policy titled as Securing our Economic Future [...]
Fresher hiring at HCL Tech to touch 20,000-22,000 this fiscal
New Delhi, Jan 14 (PTI) IT services major HCL Technologies on Friday said it has aggressively ramped up hiring and expects to hire 20,000-22,000 freshers this fiscal as the demand for technology services continues to outstrip supply. HCL Technologies Chief Human Resources Officer Apparao V V said the company has already added 17,500 freshers as [...]
Telcos seek refund of Rs 35,000 cr input tax credit, GST waiver on licence fee, SUC
New Delhi, Jan 14 (PTI) Telecom operators want the government to refund input tax credit (ITC) of around Rs 35,000 crore, reduce levies and waive GST on licence fees and spectrum usage in the upcoming Budget. According to pre-Budget recommendations of telecom industry body COAI, whose members include Vodafone Idea, Bharti Airtel and Reliance Jio, [...]
Business briefs
*Yes Bank commits to net zero carbon greenhouse gas emission by 2030 Mumbai, Jan 14 (PTI) Private sector lender Yes Bank on Friday committed to cut its greenhouse gas emissions to zero on a net basis by 2030.The commitment, which follows similar moves by larger peers and other corporates, is in line with the Paris [...]
PM Imran launches Pak’s first-ever National Security Policy; focuses on flagging economy instead of military capabilities
Islamabad, Jan 14 (PTI) Prime Minister Imran Khan on Friday launched Pakistan’s first-ever National Security Policy based on a citizen-centric framework and focusing more on boosting the country’s flagging economy and its standing in the world, unlike the previous one-dimensional security policy deeply rooted in the development of military capabilities. Unveiling the public version of [...]
Hero MotoCorp lines up Rs 420-cr fresh investment in Ather Energy
New Delhi, Jan 14 (PTI) The country's largest two-wheeler maker Hero MotoCorp on Friday said its board has approved to further invest up to Rs 420 crore in electric two-wheeler company Ather Energy. The company's board has approved the investment in one or more tranches, Hero Motocorp said in a statement. Prior to the proposed [...]
Monumental National Flag made of ‘khadi’ to be displayed at Indo-Pak border in Jaisalmer
New Delhi, Jan 14 (PTI) The Monumental National Flag, the world's largest national flag made of 'khadi' fabric will be displayed at the India-Pakistan Border in Jaisalmer to celebrate Army Day on Saturday, according to the MSME ministry.The flag will be displayed at Longewala, which was the centre stage of the historic battle between India [...]
Budget to offer more fiscal support to economy amid uncertainty from third wave: Report
Mumbai, Jan 14 (PTI) The rising uncertainty from the third wave of the pandemic will force the forthcoming Budget to push the fiscal pedal more to support the fragile recovery, and print in 6.5 per cent fiscal deficit as the government is likely to budget for around Rs 42 lakh crore of capex next fiscal, [...]
Business highlights
New Delhi, Jan 14 (PTI) Following are the top business stories at 2015 hours: DEL59 BIZ-CAR-LD AIRBAGS-GADKARI Minimum 6 airbags to be made mandatory in vehicles that can carry up to 8 passengers: Gadkari New Delhi: The Centre will make it mandatory for carmakers to provide a minimum of six airbags in motor vehicles that can [...]
RBI proposes new norms for classification, valuation of banks’ investment portfolio
Mumbai, Jan 14 (PTI) The Reserve Bank of India (RBI) on Friday proposed new norms for the classification and valuation of the investment portfolio of banks, with a view to align them with the global prudential framework and accounting standards. According to the proposed norms, the investment portfolio of banks will be divided into three [...]
Forex reserves down by USD 878 mn to USD 632.736 bn
Mumbai, Jan 14 (PTI) The country's foreign exchange reserves declined by USD 878 million to stand at USD 632.736 billion in the week ended January 7, RBI data showed on Friday. In the previous week ended December 31, the reserves had dropped by USD 1.466 billion to USD 633.614 billion. It had touched a [...]
Sterlite Power completes ownership transfer in IIML to Electron
New Delhi, Jan 14 (PTI) Sterlite Power on Friday said that it has completed the transfer of its ownership in IndiGrid Investment Managers Ltd (IIML) to Electron IM Pte Ltd, an affiliate of KKR & Co Inc. The ownership transfer has been effected as per the amended and restated shareholders agreement entered between Sterlite Power [...]
NXTDIGITAL completes sale of land parcel at Hyderabad
New Delhi, Jan 14 (PTI) Hinduja Group's headend-in-the-sky platform NXTDIGITAL Ltd (NDL) on Friday said it has completed a Rs 69.30-crore transaction for the sale of a land parcel held by it in Hyderabad. The sale agreement was signed and registered with the appropriate authorities in Hyderabad on Thursday and the balance consideration was received, [...]
HCL Tech Q3 net profit falls 13.6% to Rs 3,442 cr
New Delhi, Jan 14 (PTI) IT firm HCL Technologies on Friday reported a 13.6 per cent fall in net profit to Rs 3,442 crore for the December 2021 quarter and said it expects to see a strong deal pipeline on the back of a robust demand environment. The company had logged a net profit of [...]
BGE-COMML-BULLION-CLOSE
Bengaluru, Jan 14 (PTI) Closing bullion rates on Friday: Standard gold [99.5 purity] - Rs 49,600 per 10 grams Ornament gold - Rs 4,625 per gram Silverspot [.999 fineness] - Rs 63,100 per kg. PTI DVR HDA HDA
Aurobindo Pharma shares tumble over 3 pc
New Delhi, Jan 14 (PTI) Shares of Aurobindo Pharma on Friday dipped over 3 per cent after the company said it has received a warning letter from the US health regulator for its Hyderabad-based Unit I, an API (Active Pharmaceutical Ingredient) manufacturing facility.The stock tumbled 3.17 per cent to settle at Rs 695.15 on BSE. [...]
NEWSALERT
Megha Engineering bags 15 city gas licences, Adani Total gets 14, IOC receives 9 licences: PNGRB Result of 11th Round Bid Opening. PTI ANZ HRS hrs
MGR-COMML-ARECA-COCONUT-PRICES
Mangaluru, Jan 14 (PTI) Following are Friday's areca and coconut prices: Areca (Rs/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/thousand) 1st quality: Rs 18,000 to Rs 20,000, model Rs 19,000 2nd [...]
Bank credit grows 9.16%, deposits up 10.28%
Mumbai, Jan 14 (PTI) Bank credit grew 9.16 per cent to Rs 116.83 lakh crore and deposits rose 10.28 per cent to Rs 162.41 lakh crore for the fortnight ended December 31, 2021, RBI data showed. For the fortnight ended January 1, 2021, bank credit stood at Rs 107.02 lakh crore and deposits at Rs [...]
boAt parent co Imagine Marketing to acquire Singapore-based KaHa Pte for undisclosed amount
New Delhi, Jan 14 (PTI) Imagine Marketing, the parent company of earwear brand boAt, on Friday said it will acquire Singapore-based KaHa Pte, an end-to-end smart IoT product development company, for an undisclosed amount. It has signed a definitive agreement to acquire KaHa, a move that will help to create next-generation IoT-enabled wearable products and [...]
Vedanta plans investments in mineral sector in Saudi Arabia
New Delhi, Jan 14 (PTI) Industrialist Anil Agarwal-owned mining major Vedanta Group on Friday said it is exploring investment opportunities in the mineral sector of Saudi Arabia. The company is already in discussions with stakeholders in Saudi Arabia, which is aiming to become a mineral hub in the Middle East, Vedanta said in a statement. [...]
Passenger Vehicle Dispatches fell 13% in December on chip shortage
New Delhi, Jan 14 (PTI) Passenger vehicle dispatches from factories to dealers declined 13 per cent to the lowest level in five years in December last year as the industry continued to face production issues due to semiconductor shortage, auto industry body SIAM said on Friday. Passenger vehicle dispatches last month stood at 2,19,421 units compared [...]
MEIL bags 15 city gas distribution projects in 9 states
New Delhi, Jan 14 (PTI) Infrastructure company MEIL has bagged 15 city gas distribution (CGD) projects across nine states, bids for which were opened on Friday, according to a company statement. The Petroleum and Natural Gas Regulatory Board (PNGRB) had earlier called for the 11th round of bidding of CGD projects for 65 geographical areas [...]
Minimum 6 airbags to be made mandatory in vehicles that can carry up to 8 passengers: Gadkari
New Delhi, Jan 14 (PTI) The Centre will make it mandatory for carmakers to provide a minimum of six airbags in motor vehicles that can carry up to 8 passengers for enhanced safety of occupants, Union Minister Nitin Gadkari said on Friday. In a series of tweets, the Road Transport and Highways Minister said his ministry [...]
ABFRL to acquire 51 pc stake in brand Masaba, aims Rs 500 cr revenue in next 5 years
New Delhi, Jan 14 (PTI) Aditya Birla Fashion and Retail Ltd (ABFRL) on Friday said it will acquire a 51 per cent majority shareholding in popular and contemporary brand 'Masaba' promoted by the leading designer Masaba Gupta for a cash consideration of Rs 90 crore. The Aditya Birla Group has entered into a 'binding term [...]
Mindtree shares tumble over 4 pc after earnings announcement
New Delhi, Jan 14 (PTI) Shares of IT firm Mindtree on Friday tumbled over 4 per cent even after the company posted a 34 per cent jump in consolidated net profit for the December 2021 quarter.The stock plunged 5.61 per cent to Rs 4,477.25 amid profit-taking during the day on BSE. It settled at Rs [...]
A&W Capital Acts As the Exclusive Financial Advisor to Rooter on its USD 25 mn (INR 185 crore) Series-A Fund Raise Led by Lightbox, March Gaming, and Duane Park
This is the largest fundraise till date in the Game Streaming Space in India New Delhi, Delhi, India (NewsVoir) As the frenzied deal activity in the Indian gaming industry continues unabated, Rooter, India’s leading game streaming and e-sports platform, announced its $25 million (INR 185 crore) Series A funding. A&W Capital, a cross-border investment advisory [...]
Gross office leasing up 16 pc in 2021 across top 9 cities; Hyderabad sees maximum demand: CBRE
New Delhi, Jan 14 (PTI) Gross office space leasing across nine major cities rose 16 per cent to 41.1 million square feet during the last year, driven mainly by higher demand in Hyderabad, real estate consultant CBRE said on Friday. Office space leasing or absorption stood at 35.4 million square feet during 2020, while the [...]
AP’s revenue up by 9%, but deficit balloons to 803.72%
Amaravati, Jan 14 (PTI) Andhra Pradesh’s own tax revenue was Rs 16,372.97 crore higher in the first eight months of the 2021-22 financial year, as compared to the corresponding period in 2020-21, but the state’s revenue deficit zoomed to a worrisome 803.72 per cent by the end of November, the Comptroller and Auditor General (CAG) [...]
CAIT files petition before CCI to block Amazon’s deal to acquire 100 pc shareholding in Cloudtail
New Delhi, Jan 14 (PTI) Domestic traders' body CAIT on Friday said it has filed a petition before the Competition Commission of India (CCI) to block the transaction that has been entered into by Amazon where they will acquire 100 per cent shareholding in Cloudtail. The petition provides evidence to show Cloudtail charges less fees/ [...]
Rupee slumps 25 paise to 74.15 per US dollar
Mumbai, Jan 14 (PTI) Snapping its five-day winning run, the rupee on Friday slumped 25 paise to close at 74.15 against the US dollar, in line with other emerging market currencies as hawkish comments by Federal Reserve officials weighed on sentiment. At the interbank foreign exchange market, the local currency witnessed an intra-day high of [...]
Exports rise 38.91 pc to USD 37.81 bn in Dec; trade deficit widens to USD 21.68 bn: Govt data
New Delhi, Jan 14 (PTI) The country's exports in December 2021 surged 38.91 per cent on an annual basis to USD 37.81 billion, the highest-ever monthly figure, due to healthy performance by sectors such as engineering, textiles and chemicals, even as the trade deficit widened to USD 21.68 billion during the month, government data showed [...]
LumiraDx Lab Analysis Confirms its COVID-19 Antigen Test Detects the Omicron Variant
Results from ongoing testing and monitoring of COVID-19 variants shows the rapid microfluidic test detects Omicron at a comparable sensitivity to other variants LONDON, Jan. 14, 2022 /PRNewswire/ -- LumiraDx (Nasdaq: LMDX), a next-generation point of care diagnostics company, today announced that results from ongoing testing and monitoring of COVID-19 variants show its SARS-CoV-2 Antigen [...]
Bring Home Havells Geysers on the Lowest EMIs Starting Rs. 866 on the Bajaj Finserv EMI Store
Pune, Maharashtra, India (NewsVoir) The Bajaj Finserv EMI Store has recently announced exciting deals and offers on Havells geysers. India’s ‘EMI only’ shopping destination lets customers purchase their preferred Havells geyser in convenient monthly instalments. Additionally, shoppers can purchase Havells geysers on EMIs as low as Rs. 866 per month and get up to Rs. [...]
HCL Tech acquires Hungary’s Starschema for USD 42.5 mn
New Delhi, Jan 14 (PTI) IT services major HCL Technologies on Friday said it will acquire Hungarian firm Starschema for USD 42.5 million (about Rs 315 crore). HCL Technologies has signed a definitive pact for the acquisition of Budapest-based Starschema, which provides data engineering services, according to a regulatory filing. The strategic acquisition will bolster [...]
BULLION CLOSING
MUMBAI, JAN 14 (PTI) MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 61828.00 61859.00 STANDARD GOLD (99.5) : 48017.00 47942.00 PURE GOLD (99.9) : 48210.00 48135.00 ------------------- PTI MUM SVC SVC SVC
Benchmarks snap 5-session rally as bulls take a breather
Mumbai, Jan 14 (PTI) The Sensex and Nifty broke their five-day rising streak to close with slim losses on Friday, weighed by negative global cues and foreign fund outflows. In a largely subdued session, the 30-share BSE Sensex ended 12.27 points or 0.02 per cent lower at 61,223.03. Similarly, the NSE Nifty slipped 2.05 points [...]
Business briefs
*SAIL's former CMD Anil Chaudhary joins Primus Partners as Advisor New Delhi, Jan 14 (PTI) Advisory firm Primus Partners has roped in former CMD of SAIL Anil Kumar Chaudhary as its advisor. "A widely acknowledged industry leader, Anil Kumar Chaudhary has joined us as an advisor to support our growth journey and [...]
230- km Kargil-Zanskar highway to become all-weather road as NHIDCL begins work
Leh, Jan 14 (PTI) The 230-kilometre-long Kargil-Zanskar national highway will become an all-weather road as the National Highways and Infrastructure Development Corp Ltd has begun work for its up-gradation and widening, officials said. This is the second continuous year that the Kargil-Zanskar highway has been operational during the winter season. This was revealed at a high-level [...]
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