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Market leader stock jumps 4% after securing patent rights for cold storage unit from Govt of India
During Wednesday’s trading session, the shares of the world's leading provider of customised cryogenic equipment surged 4.8 percent to Rs. 1,247.35 on BSE, after the company received patent rights on cold storage unit from the Government of India. With a market capitalisation of Rs. 11,102.7 crores, at 10:52 a.m., the shares of INOX India Limited [...]
Textile stock jumps 7% after it acquires Nusli Wadia’s 10 acre land parcel worth ₹ 1,100 Cr in Worli
The shares of this textile company gained up to 7 percent after the company acquired the ownership rights of approx 10-acre leasehold land parcel in Worli worth Rs 1,100 crore. With a market capitalization of Rs 29,422.88 crore, the shares of Century Textiles and Industries Ltd were trading at Rs 2,634.20 per share, increasing around [...]
Blue chip stock in focus after company invests $300 Mil to produce 15 types of semiconductors
Shares of this large-cap infrastructure company surged nearly 0.25 percent after committing $300 million to enter the semiconductor industry through the creation of a new company. Share Price Movement In Wednesday’s trading session, the share price of Larsen & Toubro (L&T) gained nearly 0.25 percent reaching an intra-day high of Rs.3,600 per share from its [...]
Textile stocks under ₹ 100 with high piotroski score of 9 to keep on your radar
The Indian textile industry is one of the oldest and largest in the world, contributing significantly to the country's economy. As per reports, India's textile exports are projected to hit USD 190 billion by 2025-26, driven by the government's initiatives like the Production-Linked Incentive (PLI) scheme worth Rs.10,683 crore for artificial fibres and technical textiles. [...]
Bank stock to buy now for an upside of more than 20%; Do you own it?
Shares of the second-largest private sector bank in India offering a diversified portfolio of financial products and services slumped by 1 percent on BSE to Rs. 1,225.7, during the trading session of Wednesday. With a market capitalisation of Rs. 8.68 lakh crores, the shares of ICICI Bank Limited opened at Rs. 1,234.75, as compared to [...]
Financially strong stock to buy now for an upside of more than 20%
India's healthcare system, which includes over 70,000 institutions, is quickly expanding, fueled by a population of more than 1.4 billion. With a market value of $372 billion in 2022, it is expected to grow at a CAGR of 22.87%, driven by growing income levels, improved health awareness, and government efforts. With a market capitalization of [...]
PSU stock in focus after LIC increases stake in the company by 2%
During Tuesday’s trading session, the shares of a company engaged in the business of providing inland transportation of containers surged 0.8 percent to Rs. 954.95 on BSE, after Life Insurance Corporation of India (LIC) increased its stake in the company to 7.78 percent. With a market capitalisation of Rs. 57,094 crores, the shares of Container [...]
Semiconductor stock jumps after it partners with HP for manufacturing PCs in India
The shares of this large-cap company jumped around 2 percent after signing an MoU with HP for manufacturing notebooks, desktops and All-in-one PCs for HP under the PLI 2.0 scheme. In one year, the stock has delivered more than 140 percent return to its shareholders. Price Movement: With a market capitalization of Rs. 74,945 crores, [...]
Pharma stock jumps 3% after company’s board sets record date for 2:1 bonus issue
Pharma stock engaged in the business of manufacturing, marketing, trading, and selling a wide range of pharmaceutical products and formulations jumped 3 percent in the day’s trade upon declaring record date for the bonus issue of 2:1. Price Action With a market capitalization of Rs. 66 Crores, the shares of JFL Lifesciences Limited were trading [...]
EV stock jumps 3% after its 2 wheeler EVs receives Govt approval for EMPS scheme
During Tuesday’s trading session, the shares of one of India's leading diversified engineering companies surged nearly 3.8 percent to Rs. 182.05 on BSE, after the company’s EV unit secured the government approval for EMPS Scheme Incentives. With a market capitalisation of Rs. 4,098.6 crores, at 02:33 p.m., the shares of Greaves Cotton Limited (GCL) were [...]
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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
WEF to host online Davos Agenda summit next week; PM Modi’s address on Monday
New Delhi/Geneva, Jan 14 (PTI) Prime Minister Narendra Modi will address the online Davos Agenda summit of the World Economic Forum on the first day of the five-day event beginning January 17, joining a host of other global leaders who will share their visions for 2022 on the state of the world. While the WEF [...]
Sebi to auction Ravi Kiran Realty’s properties on Jan 28
New Delhi, Jan 14 (PTI) Markets regulator Sebi on Friday said it will auction two properties of Ravi Kiran Realty India Ltd and its promoters on January 28 to recover investors' money. The properties, located in West Bengal, will be auctioned at a reserve price totalling Rs 2.16 crore, the Securities and Exchange Board of [...]
Why did shares of Motherson Sumi fall 22% today?
Motherson Sumi Systems shares fell by 22.12% on the National Stock Exchange on Friday’s session.The demerger of its wiring business is a cause for this. Shareholders will get one share each in MSWIL and SAMIL.The fair value of SAMIL is between Rs. 170 to Rs. 230 per share and that of MSWIL is estimated at [...]
KOLKATA BULLION CLOSING
Kolkata,Jan.14(PTI): SILVER RDY.(BAR) : Rs.62,350.00(61,950.00) Per Kg.SILVER RDY.(PORTION) : Rs.62,450.00(62,050.00) Per Kg.GOLD (24-CARAT) RDY. : Rs.48,800.00(48,650.00) Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.46,300.00(46,150.00) Per 10 Gms.HALLMARKED GOLD(22-CARAT) RDY. : Rs.47,000.00(46,850.00) Per 10 Gms. ---- PTI SAM
Adani Wilmar cuts IPO size to Rs 3,600 cr
New Delhi, Jan 14 (PTI) Edible oil major Adani Wilmar Ltd (AWL) has cut the size of its initial share-sale to Rs 3,600 crore from the Rs 4,500 crore planned earlier, people familiar with the development said on Friday. The company, which sells cooking oils under the Fortune brand, is expected to float its initial public [...]
WPI inflation eases to 13.56% in Dec; RBI may hold rates next month
New Delhi, Jan 14 (PTI) The wholesale price-based inflation bucked the 4-month rising trend in December 2021, and eased to 13.56 per cent, even though food prices hardened, and experts believe the RBI is expected to hold rates steady in its monetary policy next month. WPI inflation has remained in double digits for the ninth [...]
Sensex, Nifty end marginally lower
Mumbai, Jan 14 (PTI) Equity benchmarks Sensex and Nifty ended marginally lower on Friday, as positive macroeconomic data failed to lift spirits amid negative cues from global markets. 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 or [...]
Rupee slumps 25 paise to close at 74.15 against US dollar
Mumbai, Jan 14 (PTI) The rupee on Friday slumped 25 paise to close at 74.15 (provisional) against the US dollar, as muted domestic equities and elevated crude oil prices weighed on investor sentiments.Forex traders said the local unit fell following more hawkish comments by Federal Reserve officials.At the interbank foreign exchange market, the local currency [...]
Gold gains Rs 93; silver jumps Rs 59 on global trends
New Delhi, Jan 14 (PTI) Gold price in the national capital on Friday gained Rs 93 to Rs 47,005 per 10 grams, in line with a jump in prices of international precious metal along with rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,912 per 10 grams. [...]
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 [...]
Ola Electric to open final payment window for scooter buyers on Jan 21
New Delhi, Jan 14 (PTI) Ola Electric will open the final payment window on January 21 for all the customers who have already paid Rs 20,000 for its electric scooters, Ola Chairman and Group Executive Officer Bhavish Aggarwal said on Friday. The company, which had last month stated that it has dispatched its electric scooters [...]
Boddess goes Omni-channel with the launch of its first flagship store
India’s first Experiential and Digital beauty store offering a range of exciting experiencesfor its consumers Gurugram, 13th January, 2022– Beauty Retailer Boddess.com opens its first flagship store in Ambience Mall, Gurugram. After its exciting online launch with over 100+ beauty brands, Boddess now opens with 1700sq feet of beauty space dedicated to top International brands [...]
Boddess goes Omni-channel with the launch of its first flagship store
India’s first Experiential and Digital beauty store offering a range of exciting experiences for its consumers Gurugram, 14th January, 2022 – Beauty Retailer Boddess.com opens its first flagship store in Ambience Mall, Gurugram. After its exciting online launch with over 100+ beauty brands, Boddess now opens with 1700sq feet of beauty space dedicated to top [...]
ABFRL to acquire 51% 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 [...]
COMMODITY PRICES
MUMBAI, JAN 14 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST.COPPER :- COPPER CABEL SCRAP 736.00 COPPER HEAVY SCRAPS 724.00 COPPER ARMATURE (CREDIT) 704.00 COPPER UTENSILS SCRAP 635.00 CC ROD 788.00 BRASS :- BRASS SHEET CUTTING 536.00 BRASS UTENSIL SCRAP 485.00 BRASS HONEY 480.00 ALUMINIUM :- ALUMINIUM UTENSIL SCARPS 185.00 ALUMINIUM EXTRUSION SCRAP 208.00 ALUMINIUM INGOTS [...]
PRICES MUM OILSEEDS CLOSING
MUMBAI, JAN 14 (PTI) OILS (per 10 Kgs) G.Nut Raw 1340.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1180.00 Sunflower Exp.Ref. 1240.00 Cottonseed(Refined) 1235.00 Refined Palm Oil 1162.00 Soyabean Ref. 1205.00 Imp.Soyabean Crude - Rapeseed Ref. 1610.00 Rapeseed Exp. 1580.00 Copra white 1610.00 Rice Bran 4-7% FFA - Rice Bran 1110.00 Linseed 1950.00 Castor [...]
Goyal urges global VC funds to focus on startups in smaller cities
New Delhi, Jan 14 (PTI) Commerce and Industry Minister Piyush Goyal on Friday called upon the global venture capital funds to focus more on startups from tier 2 and 3 cities of the country and explore new sectors for investing. Chairing a roundtable with global venture capital (VC) funds, the minister said the government has [...]
THE WORLD’S NUMBER ONE PREMIUM GIN BOMBAY SAPPHIRE LAUNCHES BAR QUALITY READY-TO-DRINK GIN & TONIC
The new BOMBAY SAPPHIRE® & TONIC offers a perfectly balanced Gin & Tonic in a ready-to-pour format. January 2022: BOMBAY SAPPHIRE announces the launch of BOMBAY SAPPHIRE® & TONIC Ready-to-Drink (RTD), enabling its consumers to now enjoy the world’s number one premium gin as a bar-quality Gin & Tonic serve, no matter where they are. [...]
Truecaller to Acquire Israeli App CallHero
The built-in AI assistant can answer your calls with a script of your choice, take messages for you and even block calendars Bengaluru, Karnataka, India (NewsVoir) Truecaller, the leading global platform for verifying contacts and blocking unwanted communications, has entered into an agreement to acquire the Israeli company CallHero (www.getcallhero.com). CallHero has developed a unique [...]
Copper futures rise on high spot demand
New Delhi, Jan 14 (PTI) Copper prices on Friday rose 0.3 per cent to Rs 756 per kg in the futures market on the back of a pick-up in the spot demand. On the Multi Commodity Exchange, copper contracts for delivery in January traded higher by Rs 2.55, or 0.3 per cent, to Rs 756 [...]
coocaa & Flipkart kickstart 2022 Android 11 Releases on Republic Day
NEW DELHI, Jan. 14, 2022 /PRNewswire/ -- This Republic Day, coocaa and Flipkart are celebrating alongside Indians nationwide with two of the first Android 11 TVs of the year. Being the first TV brand in India to offer Android 11 smart TVs, coocaa is excited to play an even more significant role as Indians nationwide [...]
Nickel futures rise on firm spot demand
New Delhi, Jan 14 (PTI) Nickel prices on Friday rose 1.78 per cent to Rs 1,650.80 per kg in the futures trade as speculators built up fresh positions amid rising demand from alloy makers in the spot market. On the Multi Commodity Exchange, nickel contracts for the January delivery gained Rs 28.80, or 1.78 per [...]
BGE-COMMODITIES
Bengaluru, Jan 14 (PTI) Following are Friday's commodities prices (All rates in Rs/quintal): Rice Fine 4400-5000: Medium 4500-4800: Jowar 2000-2400: Jaggery cube 4000-4200: Jaggery ball 4500-4600: Coriander Seed 10000-12500: Chilies fine 24000-34000: Potato Big 2800-3200: Medium 2000-2200: Onion Big 2000-2500: Medium 1500-2000: Small 1000-1500: Tamarind 6000-16000: Garlic 4500-5500: Horsegram 4600-4800: Wheat 2400-3000 Turmeric 8500-15500: Turdhal [...]
Zinc futures edge higher on robust demand
New Delhi, Jan 14 (PTI) Zinc prices on Friday rose Rs 2.20 to Rs 291.80 per kg in the futures trade, tracking a firm trend in physical markets. On the Multi Commodity Exchange, zinc contracts for January traded higher by Rs 2.20, or 0.76 per cent, to Rs 291.80 per kg with a business turnover [...]
Crude oil futures gain on higher demand
New Delhi, Jan 14 (PTI) Crude oil prices on Friday rose Rs 46 to Rs 6,127 per barrel as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the January delivery traded higher by Rs 46, or 0.76 per cent, to Rs 6,127 per barrel in 7,694 [...]
Tata Sons, TICL to participate in TCS mega buyback offer, to sell shares worth Rs 12,993 cr
New Delhi, Jan 14 (PTI) Tata Consultancy Services promoters - Tata Sons and Tata Investment Corporation Ltd (TICL) - intend to participate in the IT services major's Rs 18,000 crore buyback offer by tendering shares worth about Rs 12,993.2 crore. On Wednesday, the TCS board approved an up to Rs 18,000 crore buyback offer entailing [...]
Silver futures rise on firm spot demand
New Delhi, Jan 14 (PTI) Silver prices on Friday rose Rs 314 to Rs 62,234 per kg in the futures trade as participants widened their bets following firm spot demand. On the Multi Commodity Exchange, silver contracts for the March delivery gained Rs 314, or 0.51 per cent, to Rs 62,234 per kg in 12,032 [...]
Gold futures gain on spot demand
New Delhi, Jan 14 (PTI) Gold prices on Friday rose Rs 235 to Rs 47,971 per 10 grams in the futures trade as speculators created fresh positions amid a firm spot demand. On the Multi Commodity Exchange, gold contracts for the February delivery traded higher by Rs 235, or 0.49 per cent, to Rs 47,971 [...]
WEF to host online Davos Agenda summit next week; PM Modi’s address on Monday
New Delhi/Geneva, Jan 14 (PTI) Prime Minister Narendra Modi will address the online Davos Agenda summit of the World Economic Forum on the first day of the five-day event beginning January 17, joining a host of other global leaders who will share their visions for 2022 on the state of the world. While the WEF [...]
Passenger vehicle sales in India dip 13% in December: SIAM
New Delhi, Jan 14 (PTI) Passenger vehicle wholesales in India declined 13 per cent to 2,19,421 units last month, auto industry body SIAM said on Friday. Passenger vehicle sales in December 2020 stood at 2,52,998 units. As per the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales also fell 11 per [...]
Hero MotoCorp expands operations in El Salvador
New Delhi, Jan 14 (PTI) Two-wheeler market leader Hero MotoCorp on Friday said it has expanded operations in El Salvador with the commencement of retail sales at a newly opened flagship outlet in the country's capital city San Salvador.The company has a distribution network of over 200 touchpoints, including five company-owned showrooms, 15 dealerships, 85 [...]
BGE-VEGETABLES
Bengaluru, Jan 14 (PTI) Following are Friday's vegetable rates quoted at Agriculture Produce Marketing Committee (APMC), Rates per Quintal. Cauliflower 1000-4000, Brinjal 350-3000, Tomato 250-5500, Bitter Gourd 1500-5000, Bottle Gourd 600-2400, Ash Gourd 1000-2000, Green Chilly 380-8000, Banana green 1000-2900, Beans 150-5000, Green Ginger 1000-5000, Carrot 2000-8500, Cabbage 500-6000, Ladies Finger 200-6000, Snake Gourd 800-2600, [...]
Indifi ties up with GPay to source loans
Mumbai, Jan 14 (PTI) Small businesses-focused lending platform Indifi on Friday announced a partnership with Alphabet's payment app, Google Pay, for helping it source new lending opportunities from merchants. Google Pay has 10 million merchants, who will be given the option of availing a pre-approved loan from Indifi in the app itself, based largely on [...]
Edtech Firm ‘SpeEdLabs’ to Expand its Presence to 800 Cities with its AI-Enabled Personalised Learning Platform in K12 and Test Prep Space
Mumbai, Maharashtra, India (NewsVoir) Mumbai based leading EdTech platform ‘SpeEdLabs’ (India’s only Platform with Hybrid Learning Model) is set to expand its presence from the present 200 cities to 800 cities across the country with its AI-enabled personalized learning platform in K12 and Test Prep Space, in the next six months. SpeEdLabs is currently serving [...]
Anurag Yadav Appointed as CEO of IHH Healthcare India
Mumbai, Maharashtra, India – Business Wire India Mr Anurag Yadav is appointed as the Chief Executive Officer of IHH Healthcare India, effective today. Anurag joined IHH Healthcare in April 2017 as the Chief Financial Officer (CFO) of its India Operations Division, where he oversaw the financial activities of IHH’s network of hospitals in India (excluding [...]
Rising COVID cases may add to asset quality risks of NBFIs: Fitch
New Delhi, Jan 14 (PTI) Fitch Ratings on Friday said the rising COVID cases may delay recovery in MSME and microfinance lending, and add to asset quality risks of non-banking financial institutions.Fitch estimates India's economic growth this fiscal ending March 2022 to be at 8.4 per cent but said that the deteriorating asset quality for [...]
Soybean futures slip on muted demand
New Delhi, Jan 14 (PTI) Soybean prices on Friday fell by Rs 127 to Rs 6,126 per quintal in futures market as participants cut down their positions on weak spot demand. On the National Commodity and Derivatives Exchange, soybean contracts for January delivery slipped Rs 127, or 2.03 per cent, to Rs 6,126 per quintal [...]
Guar seed futures ease on low demand
New Delhi, Jan 14 (PTI) Guar seed prices on Friday eased by Rs 33 to Rs 6,347 per 10 quintal in futures trade.On the National Commodity and Derivatives Exchange, guar seed contracts for January delivery fell by Rs 33, or 0.52 per cent, at Rs 6,347 per 10 quintal with an open interest of 3,815 [...]
PRICES MUM GENERAL OPEN
MUMBAI, JAN 14 (PTI) OPENING RATES SILVER SPOT (IN RS PER KILO): 61828.00 STANDARD GOLD (99.5) : 48017.00 PURE GOLD (99.9) : 48210.00 CALCUTTA BULLION :- SILVER RDY.(BAR) : 61950.00 RS. PER KG.SILVER RDY.(PORTION) : 62050.00 RS. PER KG.GOLD (24 CARAT) RDY. : 48650.00 RS. PER 10 GMS.GOLD (22 CARAT) RDY. : 46150.00 RS. PER [...]
Guar gum futures fall on low demand
New Delhi, Jan 14 (PTI) Guar gum prices on Friday fell by Rs 173 to Rs 11,754 per five quintal in futures market as traders offloaded their holdings in line with weak trend in spot market.On the National Commodity and Derivatives Exchange, guar gum for January delivery declined by Rs 173, or 1.48 per cent, [...]
Coriander futures decline on low demand
New Delhi, Jan 14 (PTI) Coriander prices on Friday fell by Rs 116 to Rs 9,578 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 116, or 1.2 per cent, to Rs 9,578 per quintal [...]
SBI-DIRECT EXC RATES
MUMBAI, JAN 14 (PTI) FOLLOWING ARE THE DIRECT RATES OF EXCHANGE (DPE ) AS ANNOUNCED BY THE STATE BANK OF INDIA HERE TODAY. ( ALL RATES IN RUPEES PER UNIT ).CURRENCY TTBUY TTSEL BILLBUY TTSEL CODE USD/INR 73.25 74.75 73.19 74.9 72 EUR/INR 83.51 86.34 83.44 86.51 GBP/INR 99.99 103.23 99.9 103.44 JPY/INR 63.94 66.12 [...]
RBI-MONEY MARKET OPERATIONS
MUMBAI, JAN 14, (PTI) Money Market Operations as on JAN 13 2021 (Amount in ? crore, Rate in Per cent) VOLUME Weighted MONEY MARKET (ONE LEG) Average Rate Range A. Overnight Segment 5,30,380.36 3.23 0.01-5.25 I. Call Money 9,454.60 3.28 2.10-3.45 II. Triparty Repo 4,22,691.55 3.21 2.97-3.36 III. Market Repo 98,214.21 3.30 0.01-3.55 IV. Repo [...]
ICICI Prudential AMC joins hands with US-based First Trust Advisors
Mumbai, Jan 14 (PTI) ICICI Prudential Asset Management Company has entered into a collaboration with the US-based First Trust Advisors, which is into actively-managed exchange-traded funds, to launch a slew of global fund of funds. Under the agreement, ICICI Prudential AMC will first launch a strategic metal & energy equity fund of funds, which will [...]
Exports rise 38.91% to $37.81 bn in Dec; trade deficit widens to $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 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 on Friday.Imports in December [...]
Paytm Payments Bank leads UPI beneficiary chart; SBI biggest remitter in Dec
Paytm Payments Bank has emerged as the biggest receiver of UPI amount with 926.17 million transactions while public sector bank SBI topped the chart of being the biggest remitter in December, according to data released by the National Payments Corporation of India (NPCI). Paytm Payments Bank Ltd (PPBL) claimed to have become the first beneficiary [...]
New life insurance policy: Insurers put in place waiting period for people recovered from COVID
New Delhi, Jan 14 (PTI) People who have recovered from coronavirus infection will have to wait for up to three months before they can take a new life insurance policy, with insurers making the waiting period requirement applicable for coronavirus cases like other ailments. As a standard practice, all life and health insurance companies require [...]
KOLKATA BULLION OPENING
Kolkata, Jan.14(PTI): SILVER RDY.(BAR) : Rs.61,950.00 Per Kg.SILVER RDY.(PORTION) : Rs.62,050.00 Per Kg.GOLD (24-CARAT) RDY. : Rs.48,650.00 Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.46,150.00 Per 10 Gms.HALLMARKED GOLD(22-CT) RDY. : Rs.46,850.00 Per 10 Gms. ---- PTI SAM
Glenmark Specialty S.A. (Switzerland) receives NDA Approval by the United States Food and Drug Administration (FDA) for Ryaltris™ Nasal Spray for the Treatment of Symptoms of Seasonal Allergic Rhinitis in Adults and Pediatric Patients 12 Years of Age and Older
- Ryaltris™ is a metered, fixed-dose, aqueous suspension, prescription drug product nasal spray approved by the FDA for the treatment of symptoms of Seasonal Allergic Rhinitis in adults and pediatric patients 12 years of age and older. - Ryaltris™ will be marketed and distributed in the United States through their partner Hikma Specialty U.S.A. Inc., [...]
JSW Infra raises USD 400 mn in maiden international bond sale
Mumbai, Jan 14 (PTI) Sajjan Jindal-led JSW Group's port development arm on Friday announced a USD 400 million fundraise through a bond issue from international investors.The money raised in the issue by JSW Infrastructure will be used to repay the existing debt of the company and its subsidiaries.The issue of the sustainability linked bond (SLB) [...]
SimplyCash asks customers to be vigilant before downloading instant loan apps, and remember warning indicators
NEW DELHI, Jan. 14, 2022 /PRNewswire/ -- In the backdrop of the disclosure by RBI's working group that it had identified over 600 fraudulent lending apps, it is relevant to understand what are the basic warning indicators that should raise a red flag to any potential borrower. The same sentiment is also shared by SimplyCash [...]
Techwave Unveils Its Refreshed Corporate Identity to Unlock the Next Phase of Growth
Techwave refreshes its corporate identity with a revamped visual and verbal identity, aligned to its new strategic business direction Hyderabad, Telangana, India – Business Wire India With the aim to usher in a new era of growth, Techwave, a leading IT services and engineering solutions partner, has announced the strategic realignment of its corporate identity. [...]
REC raises USD 1,175 million from a consortium of seven banks
New Delhi, Jan 14 (PTI) State-owned REC has raised USD 1,175 million from a consortium of seven banks.In a landmark transaction, REC Limited (REC) successfully raised USD 1,175 million from a consortium of seven banks as the Mandated Lead Arrangers and Bookrunners (MLABs), a statement said.According to the statement, this is the single largest syndicated [...]
Big foreign, domestic players participated in food show: TPCI
New Delhi, Jan 14 (PTI) Over 350 domestic exporters and more than 800 buyers from different countries participated in a three-day food show, which concluded on January 10 in Greater Noida, TPCI said on Friday.Trade Promotion Council of India (TPCI) also said that the fifth edition of 'Indusfood 2022' is expected to have negotiated business [...]
Want to bring together mutually beneficial FTA for India, Britain: UK Minister
New Delhi, Jan 14 (PTI) UK's Secretary of State for International Trade Anne-Marie Trevelyan has said that both India and Britain want to bring together a free trade agreement (FTA), aimed at boosting economic ties, which is mutually beneficial for both the countries. She also expressed hope that both sides would conclude the negotiations for [...]
Tech-enabled logistics company Shiprocket acquires Rocketbox
New Delhi, Jan 14 (PTI) Tech-enabled logistics and fulfilment company Shiprocket on Friday said it has acquired Rocketbox, a B2B logistics aggregator platform, for an undisclosed amount. The Rocketbox founders will join the Shiprocket leadership team, and continue to build the cargo product as part of this deal, a statement said. "Rocketbox, which is now [...]
EVage raises USD 28 mn from RedBlue Capital
New Delhi, Jan 14 (PTI) Electric commercial vehicle startup EVage on Friday said it has raised USD 28 million (over Rs 205 crore) from US-based venture capital firm RedBlue Capital.The funding will allow EVage to complete its factory outside of Delhi in FY 2022-23 and scale up production, the company said.EVage supplies EV trucks to [...]
Treatment options available for every stage of heart failure
Heart failure develops due to the gradual weakening of heart muscle resulting in a decreased ability of the heart to supply blood to the organs. Often it is confused with a Heart attack, which is a sudden stoppage of blood supply to the core. Currently, 8-10 million Indians are diagnosed with heart failure, and 1 [...]
Rupee falls 19 paise to 74.09 against US dollar in early trade
Mumbai, Jan 14 (PTI) The rupee declined by 19 paise to 74.09 against the US dollar in opening trade on Friday, as muted domestic equities and elevated crude oil prices weighed on investor sentiments.Forex traders said the local unit fell following more hawkish comments by Federal Reserve officials.At the interbank foreign exchange, the rupee opened [...]
Aurobindo Pharma gets warning letter from USFDA for API facility
New Delhi, Jan 14 (PTI) Aurobindo Pharma on Friday 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 action follows the recent inspection of the facility by the US Food and Drug Administration (USFDA) in August 2021, the drugmaker said [...]
AGS Transact Tech sets IPO price band at Rs 166-175/share
New Delhi, Jan 14 (PTI) Payment solutions provider AGS Transact Technologies on Friday fixed a price band of Rs 166-175 a share for its initial public offering (IPO). The three-day initial share-sale will open on January 19, and conclude on January 21. The bidding for anchor investors will open on January 18, according to the [...]
Business schedule for Friday, Jan 14
Business schedule for Friday, Jan 14 DELHI: * Commerce & Industry Minister Piyush Goyal at Start-up India Innovation Week (1330 hrs) * SIAM to release auto sale numbers for December (1400 hrs) * HCL Tech Q3 press conference (1815 hrs) MUMBAI: * No major event listed. PTI BAL BAL
Firmenich achieves highest EcoVadis Platinum sustainability rating and improves its score to 88/100
Group placed in top 1% of all companies assessed, leads its industry GENEVA, Jan. 13, 2022 /PRNewswire/ -- Firmenich, the world's largest privately-owned perfume and taste company, has received the highest Platinum rating for environmental and social performance from EcoVadis for the second consecutive time. EcoVadis, known as the world's most trusted business sustainability ratings [...]
CRISIL Ratings to call out ESG impact on credit profiles
MUMBAI, India, Jan. 14, 2022 /PRNewswire/ -- CRISIL Ratings will start disclosing the impact of environmental, social and governance (ESG) parameters separately when assigning credit ratings, taking cognisance of their increasing importance in investment decisions and when accessing capital world over. The past couple of years have seen ESG-led investments gain traction. ESG assets stood [...]
Sensex slumps over 400 pts in early trade; Nifty dips below 18,200
Mumbai, Jan 14 (PTI) Equity benchmark Sensex tumbled over 400 points in opening trade on Friday, tracking heavy selling pressure across counters amid a negative trend in global markets. The BSE index was trading 434.59 points or 0.71 per cent lower at 60,800.71 in early trade. Likewise, the Nifty declined 111.10 points or 0.61 per [...]
Tata Sons, Tata Investment Corporation Ltd to participate in TCS buyback offer
New Delhi, Jan 13 (PTI) Tata Consultancy Services (TCS) promoters - Tata Sons and Tata Investment Corporation Ltd - intend to participate in the IT service major's Rs 18,000 crore buyback offer by tendering about 2.88 crore shares, according to a regulatory filing.On Wednesday, the TCS Board had approved an upto Rs 18000 crore buyback [...]
Odds in favour of Indian-origin Chancellor Rishi Sunak as pressure mounts on UK PM Boris Johnson
London, Jan 13 (PTI) A major bookmaker in the UK slashed its odds that embattled Prime Minister Boris Johnson will resign soon, with his Indian-origin Chancellor Rishi Sunak odds on favourite to step in at 10 Downing Street.Betfair says the clock seems to be ticking for 57-year-old Johnson, who is facing pressure not only from [...]
Business brief
Excess use of fuels, greenhouse effect, pollution create challenges: Gurjar New Delhi, Jan 13 (PTI) Minister of State for Heavy Industries Krishan Pal Gurjar on Thursday said excess use of fuels, greenhouse effect, pollution and accidents have created challenges but new innovations will ensure safe mobility with sustainable progress. He added that the automotive sector [...]
India Inc welcomes PM’s emphasis on maintaining economic momentum while tackling Omicron threat
New Delhi, Jan 13 (PTI) Prime Minister Narendra Modi's strong emphasis on maintaining the momentum of the economy with all due measures to tackle the pandemic is most relevant to minimise damage to livelihoods, India Inc said on Thursday. The Prime Minister on Thursday asked chief ministers to ensure minimum damage to the livelihood of [...]
Rather than getting focussed on visas, we are broad-basing service requests in FTAs: Commerce secy
New Delhi, Jan 13 (PTI) India has recalibrated its demands for relaxation of norms for the services sector under a free-trade agreement (FTA), making it more broad-based while negotiating such trade deals, instead of focusing only on easy visa for its professionals, Commerce Secretary BVR Subrahmanyam on Thursday said. Earlier, he said India was getting [...]
Need to make our growth much more equitable: Niti VC Kumar
Mumbai, Jan 13 (PTI) The country needs much more 'equitable' growth as inequality could lead to tensions in society, Niti Aayog Vice-Chairman Rajiv Kumar said on Thursday. Kumar also said the country's democracy will not permit the kind of K-shaped growth it has seen in the past, where different sections of the population have been [...]
Ficci for cut in quarantine period to 5 days
New Delhi, Jan 13 (PTI) Industry body Ficci has suggested the government to reduce the quarantine period to 5 days for coronavirus-infected individuals, at least for those in home isolation, so as to minimise the impact on the economy in terms of manpower shortages. In a letter to Commerce and Industry Minister Piyush Goyal, the [...]
Housing finance co, 8 NBFCs surrender certificates of registration to RBI
Mumbai, Jan 13 (PTI) Eight Non-Banking Financial Companies (NBFCs) and one housing finance company have surrendered their certificates of registration to RBI. The Mumbai-based Indie Homefin Pvt Ltd has surrendered the Certificate of Registration (CoR) granted by the National Housing Bank and the Reserve Bank of India (RBI) has therefore cancelled the CoR, the central [...]
NCLAT issues notices on Amazon’s plea against CCI order suspending approval for deal with Future Coupons
New Delhi, Jan 13 (PTI) The National Company Law Appellate Tribunal (NCLAT) on Thursday issued notices over a petition filed by Amazon challenging fair trade regulator CCI's suspension of its over two-year-old approval for the e-commerce major's deal with Future Coupons Pvt Ltd (FCPL). The appellate tribunal has directed the Competition Commission of India (CCI) [...]
NCLAT issues notices to CCI, Future Coupons over Amazon’s plea challenging CCI order
New Delhi, Jan 13 (PTI) The National Company Law Appellate Tribunal (NCLAT) on Thursday issued notices over the petition filed by e-commerce major Amazon, challenging a recent order passed by the fair trade regulator CCI that suspended the over-two-year-old approval for its deal with Future Coupons Pvt Ltd (FCPL). The appellate tribunal has directed the [...]
Rather than getting focussed on visas, we are broad-basing service requests in FTAs: Commerce secy
New Delhi, Jan 13 (PTI) India has recalibrated its demands for relaxation of norms for the services sector under a free-trade agreement (FTA), making it more broad-based while negotiating such trade deals, instead of focusing only on easy visa for its professionals, Commerce Secretary BVR Subrahmanyam on Thursday said. Earlier, he said India was getting [...]
NODWIN Gaming acquires Planet Superheroes in Rs 4.9-crore deal
New Delhi, Jan 13 (PTI) NODWIN Gaming, a subsidiary of BSE-listed Nazara Technologies, on Thursday said it has acquired comic, pop culture and superheroes merchandising retailer - Planet Superheroes.While NODWIN did not disclose the financial details, Nazara Technologies said the transaction value is Rs 4.9 crore."...Board of Directors of Nodwin Gaming Pvt Ltd, a [...]
Business highlights
New Delhi, Jan 13 (PTI) Following are the top business stories at 2015 hours: DEL54 BIZ-LD STOCKS Markets maintain momentum for fifth day as investors digest Q3 results, macro data Mumbai: Equity indices ticked higher for the fifth session on the trot on Thursday as largely positive Q3 results from IT majors enthused investors, though [...]
Indian-origin professor appointed Oxford University business school Dean
London, Jan 13 (PTI) The University of Oxford has appointed Indian-origin academic Professor Soumitra Dutta as the new Dean of its Saïd Business School. Professor Dutta, currently Professor of Management at the Cornell SC Johnson College of Business at Cornell University in New York, will take up his new UK post on June 1 this [...]
SBI raises USD 300 mn of Regulation S Formosa bonds
Mumbai, Jan 13 (PTI) State Bank of India (SBI) on Thursday said it has raised USD 300 million from Regulation S Formosa bonds offering a coupon of 2.49 per cent. Formosa bond is a bond issued in Taiwan. SBI, through its London branch, raised USD 300 million in 5-year money, which was benchmarked against the [...]
Adani, Posco tie up for steel mill in Gujarat
New Delhi, Jan 13 (PTI) Billionaire Gautam Adani's group and South Korea's Posco have signed an initial pact to explore business opportunities to invest about USD 5 billion on projects that include setting up an integrated steel mill in Gujarat, the two firms said on Thursday. The non-binding pact, if it fructifies, will give infrastructure [...]
Braithwaite aims at Rs 2,500cr revenue, IPO by FY’26
Kolkata, Jan 13 (PTI) State-run Braithwaite & Co Ltd is aiming at a four-fold increase in its revenue to Rs 2,500 crore and planning to hit the capital market with an Initial Public Offer by the 2025-26 fiscal, a top company official said on Thursday. The public sector undertaking has made a turnaround in the [...]
Need to make our growth much more equitable: Niti VC Kumar
Mumbai, Jan 13 (PTI) The country needs much more 'equitable' growth as inequality could lead to tensions in society, Niti Aayog Vice-Chairman Rajiv Kumar said on Thursday. Kumar further said the country's democracy will not permit the kind of K-shaped growth it has seen in the past, where different sections of the population have been [...]
Business briefs
*apna.co inks MoU with THSC to provide opportunities to professionals in travel, tourism sector Mumbai, Jan 13 (PTI) Professional networking and jobs platform apna.co on Thursday said it has signed an agreement with the Tourism & Hospitality Skill Council (THSC) to empower professionals in travel, tourism and hospitality sectors.Under this agreement, apna.co will support THSC [...]
India, UK formally launch FTA negotiations; likely to conclude by year-end
New Delhi, Jan 13 (PTI) India and the UK on Thursday formally launched negotiations for the proposed free-trade agreement (FTA), which is expected to help double bilateral trade to over USD 100 billion by 2030 and boost economic ties between the two countries. It was launched by Commerce and Industry Minister Piyush Goyal and UK [...]
Labour ministry dismisses reports of workers’ exodus amid third wave
New Delhi, Jan 13 (PTI) The labour ministry has dismissed as "untrue" media reports of mass exodus of workers, especially migrant labour, to their home states amid the third wave of COVID-19. It further said the Centre as well as state governments are keeping a close watch on the scenario and are fully prepared to [...]
Mcap of BSE-listed firms at all-time high of Rs 278 lakh cr as markets continue winning momentum
New Delhi, Jan 13 (PTI) The market capitalisation of BSE-listed companies reached another milestone on Thursday, rallying to a fresh all-time high of over Rs 278.15 lakh crore, driven by an ongoing rally in equities. Registering its fifth session of gain on Thursday, the 30-share BSE benchmark jumped 85.26 points or 0.14 per cent to [...]
Innoterra partners with Agri Entrepreneur Growth Foundation to help smallholder farmers
New Delhi, Jan 13 (PTI) Innoterra, a food and tech platform firm, on Thursday said it has partnered with Agri Entrepreneur Growth Foundation (AEGF) to serve smallholder farmers through their network. AEGF has been set up by Tata Trusts, IDH Sustainable Trade Initiative, and Syngenta Foundation, the company said in a statement. Around 5,00,000 smallholder farmers are associated with AEGF. The partnership [...]
Classic Legends says new bike launches to expand market, create segment within segment
Mumbai, Jan 13 (PTI) Mahindra Group-backed leisure bike maker Classic Legends, which revived the Yezdi brand of motorcycles after a gap of more than 26 years with the launch of three new bike models on Thursday, has said the offerings will not only expand the market but also create a segment within the segment. The [...]
Guidelines for telcos’ dues conversion into equity likely in a month: Official
New Delhi, Jan 13 (PTI) The government is expected to come out with detailed guidelines for conversion of interest payment liabilities of telecom players into equity within a month, a senior official said on Thursday. Under the telecom reforms package announced last year, three debt-ridden telcos -- Vodafone Idea Ltd (VIL), Tata Teleservices Ltd (TTSL) [...]
Infosys shares climb 1 pc post earnings
New Delhi, Jan 13 (PTI) Shares of Infosys on Thursday jumped 1 per cent after the company reported a near 12 per cent rise in the December quarter net profit and raised its annual revenue forecast. Shares of the company gained 1.03 per cent to settle at Rs 1,897 apiece on BSE. During the day, [...]
Pakistan to grow at 3.4% in current fiscal: World Bank
Islamabad, Jan 13 (PTI) Pakistan's economy is expected to grow by 3.4 per cent in the current fiscal year, benefiting from structural reforms and increasing export competitiveness, the World Bank has forecast. Cash-strapped Pakistan recorded growth last year, surprising experts. Improved domestic demand, record-high remittance inflows, a narrow targeting of COVID-19 lockdowns, and accommodative monetary [...]
Data analytics firm TheMathCompany gets USD 50 mn from Brighton Park Capital
Mumbai, Jan 13 (PTI) Data engineering and analytics firm TheMathCompany has raised USD 50 million from the US-based Brighton Park Capital, which is an investment company that specialises in collaborating with growth-stage software, healthcare, and tech-enabled services businesses, and existing investor Arihant Patni. The Bengaluru and Chicago-based company said the investment will accelerate its expansion [...]
GAU-PIYUSH CAPSULE BY ADD-SHOP E-RETAIL LTD IS A GATEWAY TO HEALTHY LIFE
RAJKOT, India, Jan. 13, 2022 /PRNewswire/ -- Good health is central to human happiness and well-being that contributes significantly to prosperity, wealth, and even economic progress as healthy people are more productive. ADD-SHOP E-RETAIL LTD has been consistently advocating its age-old effective medicinal system AYURVEDA and has developed several effective and efficient ayurvedic products and [...]
Mindtree Reports Strong Performance in Q3 FY22
- Revenue up 5.2% sequentially in constant currency; EBITDA margins at 21.5%; YTD TCV crosses $1.2 billion BANGALORE, India and WARREN, N.J., Jan. 13, 2022 /PRNewswire/ -- Mindtree, a global technology services and digital transformation company, announced its consolidated results today for the third quarter ended December 31, 2021, as approved by its Board of [...]
Adani, Posco tie-up for steel mill in Gujarat
New Delhi, Jan 13 (PTI) Billionaire Gautam Adani's group and South Korea's Posco have signed an initial pact to explore business opportunities to invest about USD 5 billion on projects that include setting up an integrated steel mill in Gujarat, the two firms said on Thursday. The non-binding pact, if it fructifies, will give infrastructure [...]
Wipro shares tumble 6% after Q3 earnings; mcap declines by Rs 22,712.91 cr
New Delhi, Jan 13 (PTI) Shares of Wipro Ltd on Thursday declined by 6 per cent after the company's December 2021 quarter earnings failed to cheer the investors. The stock tanked 6 per cent to settle at Rs 649.85 on BSE. During the day, it tumbled 6.27 per cent to Rs 648. On NSE, it [...]
Deep Rooted Educationist, Karandeep Singh Bags Golden Glory Award 2021
Mumbai, Maharashtra, India (NewsVoir) An epitome of the perfect confluence between a spirited mind and experienced entrepreneur, Karandeep Singh, CEO of R.O.A.R bags Most Inspiring Edupreneur of the Year at Golden Glory Awards 2021 presented by Brands Impact. The Director of Operations at one of the leading EdTech companies in India and Senior Managing Director [...]
TATA Projects strengthens Africa footprint with orders totalling about USD 323
~ Orders involve transmission line, sub-station and distribution projects ~ ~ Upon completion, the projects will spur development, uplift communities across the region ~ MUMBAI, India, Jan. 13, 2022 /PRNewswire/ -- TATA Projects Limited, one of India's fastest growing and most admired infrastructure companies, is now expanding its global footprint with an array of projects [...]
Rajiv Krishnan appointed as CEO of Ma Foi Strategic Consultants, Education Services
Chennai, Jan 13 (PTI) HR services company Ma Foi, founded by noted entrepreneur-turned politician K Pandiarajan on Thursday announced the appointment of Rajiv Krishnan as the managing director and CEO of Ma Foi Strategic Consultants and Ma Foi Education Services.Krishnan would also add value to the business of CIEL HR Services, as a Director, with [...]
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