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Waste management stock jumps 8% after new JV with Race Eco Chain to produce PET flakes
During Thursday's trading session, the shares of one of the leading PET plastic recycling companies surged 8 percent to Rs. 1,906.6 on BSE, after the company entered into a Joint Venture (JV) Agreement with Race Eco Chain Limited. With a market capitalization of Rs. 4,695.8 crores, at 11:41 a.m., the shares of Ganesha Ecosphere Limited [...]
Ashish Kacholia stock jumps 3% after it enters into an agreement with Blue Star
The shares of this smallcap company jumped around 3 percent in Thursday’s trading session after entering into an agreement with Blue Star Ltd for Employee expense management. On a YTD basis, the stock has delivered more than a 60 percent return to its shareholders. Price Movement: With a market capitalization of Rs. 4,375 crores, the [...]
Stock under ₹ 200 hits 5% upper circuit after it announces 1:1 bonus issue
Consumer Electronics stock engaged in developing and manufacturing audio systems and solutions for cinema, pro-audio, studio, and others, hit a 5 percent upper circuit in the days upon declaring a bonus issue of 1:1 Price Action With a market capitalization of Rs. 170 Crores, the shares of Pulz Electronics Limited hit a 5 percent upper [...]
Alcohol stock jumps after it partners with Ranveer Singh for luxury spirits venture
Shares of this alcohol stock rose by over 2 percent after partnering with Bollywood actor and Businessman Ranveer Singh as an equity partner in the new venture. Share Price Trends In Thursday's trading session, the share price of Allied Blenders and Distillers Limited (ABDL) reached an intra-day high of Rs.357.8 per share, marking a 2.2 [...]
Railway stocks with order book of ₹ 2,198 Cr in just 2 months
The Indian Railways received a gross budgetary support of Rs. 2.52 lakh crore, which reflects an increase of 5 percent from the previous year. This funding is aimed at enhancing the railway infrastructure and services. The total capital expenditure (capex) for the railways was set at Rs. 2.62 lakh crore, marking an 11.1 percent rise [...]
Midcap stocks with high net profit margins of 50% to add to your watchlist
Investing in mid-capitalization stocks with consistently rising net profit margins provides the potential for growth and a balanced risk-return profile, while also offering opportunities to discover undervalued companies and diversification benefits. Mid-caps with robust financials and high profitability are more resilient and potentially more rewarding than their broader mid-cap peers. Here are a few Mid-cap [...]
Vijay Kedia stock in which FIIs consistently increased stake by over 7%
Shares of this small-cap stock engaged in manufacturing and selling power transmission and material handling surged by over 3 percent after FIIs consistently increased their stake. Share Price Movement During Wednesday's trading session, Elecon Engineering Company Limited's share price opened at Rs.615.6 per share and later reached an intra-day high at Rs.636 apiece, marking a [...]
Fundamentally strong stocks trading at discount of 25% to add to your watchlist
A fundamentally strong stock trading at a discount presents an opportunity for investors to acquire quality assets below their intrinsic value. This occurs when market prices don't fully reflect a company's robust financial health, growth potential, or competitive advantages, offering the potential for significant long-term gains as the market corrects itself. Here are the Fundamentally [...]
2 Power stocks in focus after signing MoU with Maharashtra Govt for storage projects
India's power sector is among the largest and most varied in the world, with an installed capacity of around 442.85 GW (GigaWatt) as of April 2024. This capacity is sourced from coal, natural gas, hydro, nuclear, and renewable energies. Among all the major power-producing states, Maharashtra is recognized as the largest producer and consumer of [...]
Stock under ₹ 200 jumps 9% after receiving order from Coal India
The shares of this microcap company surged by around 9 percent in Wednesday’s trading session after receiving an order worth Rs. 10 crores from Coal India for the General Exploration of coal. In just one month the stock has delivered around a 40 percent return to its shareholders. Price Movement: With a market capitalization of [...]
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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
Oberoi Realty Q3 sales bookings jump 2-fold to Rs 1,965 cr
New Delhi, Jan 8 (PTI) Mumbai-based Oberoi Realty has reported over two-fold jump in its sales bookings at Rs 1,965 crore for the third quarter ended December on higher demand.In regulatory filings on Friday, Oberoi Realty has shared a summary of bookings made by the company for the third quarter of this financial year (on [...]
Gujarat chamber body to take special initiative to promote textiles in Bodoland areas
New Delhi, Jan 8 (PTI) South Gujarat Chamber of Commerce and Industry will take a special initiative to promote textiles in Assam's Bodoland Territorial Region to help the weavers and sector growth, SGCCI President Ashish Gujrati said on Saturday.He was speaking at the inaugural session of the SGCCI Expo 2022 held at Surat in Gujarat [...]
KOLKATA BULLION CLOSING
Kolkata,Jan.08(PTI): SILVER RDY.(BAR) : Rs.60,700.00(60,400.00) Per Kg.SILVER RDY.(PORTION) : Rs.60,800.00(60,500.00) Per Kg.GOLD (24-CARAT) RDY. : Rs.48,200.00(48,100.00) Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.45,750.00(45,650.00) Per 10 Gms.HALLMARKED GOLD(22-CARAT) RDY. : Rs.46,450.00(46,350.00) Per 10 Gms. ---- PTI SAM
Extraordinary zeal of entrepreneurs needs to be matched with domain expertise: VijayRaghavan
Ahmedabad, Jan 8 (PTI) The "extraordinary zeal" shown by the potential innovators and entrepreneurs needs to be matched with deep domain expertise, or else there is a danger of failing for entirely avoidable reasons, Principal Scientific Adviser to Government of India K VijayRaghavan said on Saturday. Such innovators and entrepreneurs need a much better connection [...]
Consider bankers as frontline workers for booster dose: AIBOC to FM
New Delhi, Jan 8 (PTI) Bank officers' union AIBOC has urged Finance Minister Nirmala Sitharaman to consider bankers as the frontline workers for administering booster shots amid rising COVID-19 cases across the country.In a letter addressed to the Finance Minister, All India Bank Officers' Confederation (AIBOC) also suggested the implementation of a 5-day week to [...]
BGE-COMML-MARKETS-NOTE
Bengaluru, Jan 8 (PTI) Today's Bengaluru commodities and Mangalore Areca-Coconut markets remain closed for "Second Saturday", a Government holiday. PTI DVR ROH ROH
CSB Bank MD&CEO takes early retirement, lender to set up panel to find successor
New Delhi, Jan 8 (PTI) CSB Bank on Saturday said its managing director and chief executive C VR Rajendran has decided for an early retirement on health grounds, and the lender will set up a committee to find a successor. This is to inform you that the bank's board in its meeting held on January [...]
How chocolate from Assam reached Myanmar markets!
Guwahati, Jan 8 (PTI) A chocolate named 'dark fantasy', manufactured in Assam's Mangaldai town, made its way into the markets of Myanmar after travelling over 2,000 km and passing through Siliguri, Kolkata, Singapore, Yangon to finally reach Kale. This nugget of information was shared by K K Dwivedi, Commissioner to the Department of Industries & [...]
FIEO inks pact with RebelCorp to help MSME exporters create websites
New Delhi, Jan 8 (PTI) Apex exporters body FIEO has inked an initial pact with digital platform provider RebelCorp to help MSME exporters create their own websites at affordable cost and expand business. Saad Khan, Founder and COO of Mumbai-based startup RebelCorp said the company will help the exporters create a portal which can be [...]
Teachmint partners with Punjab govt to offer its teaching platform to over 500 schools
Mumbai, Jan 8 (PTI) Education infrastructure startup Teachmint on Saturday said it has partnered with the Punjab government to provide its teaching platform to over 500 government schools in the state and enable them to run their classrooms efficiently.In the first phase of the partnership, schools in Pathankot will be able to digitise their operations [...]
Govt blocks several social media handles circulating fake, inciting content
New Delhi, Jan 8 (PTI) The government has blocked several social media handles that were circulating "fake and inciting" content on Twitter, YouTube and Facebook, Minister of State for IT Minister Rajeev Chandrasekhar said on Saturday.Owners of these accounts are being identified for action under the law, he added.Amid the massive crackdown on hateful posts, [...]
Netrack Prioritizing Business Resilience in 2022
Bangalore, Karnataka, India (NewsVoir) Mr. U.N Krishnaraj, National Manager, Sales and Support at NetRack Enclosures has been a part of an insightful event focusing on - Resilient ICT for a Phygital World. It is a virtual conference available on-demand now, elaborating on the blend of the digital and physical world coming together to enhance end-user [...]
Mango, pomegranate exports from India to US to start from Jan-Feb 2022
New Delhi, Jan 8 (PTI) Exports of mango and pomegranate from India to the US will start from January-February to boost the country's outbound shipments of agri-products, the commerce ministry said on Saturday.Exports of pomegranate aril to the US and imports of Alfalfa hay and cherries from America would also begin from April this year, [...]
KOLKATA BULLION OPENING
Kolkata, Jan.08(PTI): SILVER RDY.(BAR) : Rs.60,400.00 Per Kg.SILVER RDY.(PORTION) : Rs.60,500.00 Per Kg.GOLD (24-CARAT) RDY. : Rs.48,100.00 Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.45,650.00 Per 10 Gms.HALLMARKED GOLD(22-CT) RDY. : Rs.46,350.00 Per 10 Gms. ---- PTI SAM
Asian Energy Services invests in VAAN Electric Moto
Kochi, Jan 8 (PTI) Indian e-Mobility startup, VAAN Electric Moto pvt Ltd, has raised Rs 6 crore from Asian Energy Services Limited, an oil and gas services company. VAAN which began its operation in 2019 is recognised worldwide as an Indian Life Style E-mobility startup which intends to bring to the market the products, including [...]
Issued show cause notices, but no record of outcome of cases: DGGI in RTI reply
Nagpur, Jan 7 (PTI) Directorate General of GST Intelligence (DGGI) issued 158 show-cause notices for tax evasion, amounting to Rs 9,359 crore in the six years to FY21, but does not maintain a record of the outcome of those cases, a reply to an RTI query has revealed.City-based RTI activist Abhay Kolarkar had sought consolidated [...]
CES 2022: Coway Brings More Smart Home Products to India
Following a successful showcase at CES 2022, Coway now aims to introduce the global market to smart home products for healthier living In India, the focus will be on reaching more states and increasing available products SEOUL, South Korea, Jan. 7, 2022 /PRNewswire/ -- South Korea's Coway Co., Ltd., "The Best Life Solution Company," has [...]
HBAR Foundation Announces Partnership with A.R. Rahman to Create Content for A New NFT Platform That Supports India’s Independent Music Community
Featuring Exclusive First NFT Drop From Oscar and Grammy-Winning Composer A.R. Rahman DALLAS and BANGALORE, India, Jan. 7, 2022 /PRNewswire/ -- The HBAR Foundation today announced a partnership with Indian composer, producer and musician A.R. Rahman, to create content for a new NFT music platform focused on India's independent music community. The HBAR Foundation is [...]
Assam govt partners with NDDB to set up Rs 2,000-cr dairy joint venture
Guwahati, Jan 7 (PTI) The Assam government and National Dairy Development Board on Friday signed an agreement to create a Rs 2,000-crore joint venture for holistic development of the sector in the state. A Memorandum of Understanding was signed in Guwahati in the presence of Union Animal Husbandry & Dairying Minister Parshottam Rupala, Assam Chief [...]
All store owners, staff at two South Delhi malls fully vaccinated under Delhi govt’s campaign
New Delhi, Jan 7 (PTI) Under the 'fully vaccinated market' campaign of the Delhi government, all shopkeepers and their staff at Select City Walk and DLF Avenue, Saket, in South Delhi, have been administered the COVID-19 vaccine jabs, officials said. The two malls are the first to be certified as 'fully vaccinated markets' in the [...]
Business brief
SJVN, iDeCK to provide consultancy services for renewable energy projects New Delhi, Jan 7 (PTI) State-owned SJVN on Friday said it has signed a pact with Infrastructure Development Corporation (Karnataka) Ltd (iDeCK) to provide consultancy services for renewable energy projects. SJVN and iDeCK will collaborate for the purpose of providing "consultancy services" for the development [...]
USFDA rejects Biocon, Viatris application for Insulin Aspart
New Delhi, Jan 7 (PTI) Biocon Biologics, a subsidiary of biotechnology major Biocon, on Friday said the US health regulator has not approved an application for Insulin Aspart filed by its partner Viatris Inc. "The USFDA has issued a complete response letter (CRL) for the biologics licence application (BLA) for Insulin Aspart filed by our [...]
Amansa Holdings sells shares of CG Power and Industrial Solutions worth Rs 351 cr
New Delhi, Dec 7 (PTI) Amansa Holdings Pvt Ltd on Friday sold shares of CG Power and Industrial Solutions Ltd worth nearly Rs 351 crore, through an open market transaction. As per BSE's block deal data, over 1.76 crore shares of the firm were sold at an average price of Rs 199 apiece. This took [...]
CCI orders probe against Google for alleged abuse of dominant position
New Delhi, Jan 7 (PTI) Fair trade regulator CCI on Friday ordered a probe against Google for its alleged abuse of dominant position. "In a well-functioning democracy, the critical role played by news media cannot be undermined, and it needs to be ensured that digital gatekeeper firms do not abuse their dominant position to harm [...]
CCI orders probe against Google for alleged abuse of dominant position
New Delhi, Jan 7 (PTI) Fair trade regulator CCI on Friday ordered a probe against Google for its alleged abuse of dominant position. "In view of the foregoing analysis, in sum, the Commission is of prima facie view that Google has violated provisions of Section 4 of the Act," according to the order of the [...]
CCI orders probe against Google for alleged abuse of dominant position
New Delhi, Dec 7 (PTI) Fair trade regulator CCI on Friday ordered a probe against Google for its alleged abuse of dominant position. "In a well-functioning democracy, the critical role played by news media cannot be undermined, and it needs to be ensured that digital gatekeeper firms do not abuse their dominant position to harm [...]
Thane COVID lab hires more people, invests in infra to handle 3rd wave
Mumbai, Jan 7 (PTI) A testing lab in Thane, which handles COVID samples from across the Mumbai metropolitan area, has hired additional manpower and invested in infrastructure as coronavirus cases are again surging in a big way.“From the reports we were getting, we could gather that there will be a sharp increase in cases in [...]
CCI orders probe against Google for alleged abuse of dominant position
New Delhi, Dec 7 (PTI) Fair trade regulator CCI on Friday ordered a probe against Google for its alleged abuse of dominant position. "In view of the foregoing analysis, in sum, the Commission is of prima facie view that Google has violated provisions of Section 4 of the Act," according to the order of the [...]
7th edition of Seeding Kerala, an angel investors’ meet, to be held next month
Kochi, Jan 7 (PTI) The seventh edition of Seeding Kerala, the Kerala Startup Mission's (KSUM) flagship initiative to attract angel investors, high net worth individuals (HNIs) and leading investors by showcasing investment opportunities in startups, will be held here on February 2 and 3, a release said on Friday. The two-day event, hosted by the [...]
Sri Lankan bank pays USD 6.9 mn to Chinese company amid fertiliser row
Colombo, Jan 7 (PTI) A top state-owned bank in Sri Lanka on Friday paid USD 6.9 million to a Chinese company to settle a longstanding dispute triggered over its fertiliser shipment that was rejected by Colombo after it was found to be contaminated. The announcement came ahead of Chinese Foreign Minister Wang Yi's visit to [...]
Sri Lanka could face shortage of fuel by third week of January: Energy Minister
Colombo, Jan 7 (PTI) Sri Lanka could face shortage of fuel by the third week of January, Energy Minister Udaya Gammanpila warned on Friday, as he urged the Central Bank to step in and pump in foreign currency required for imports. Gammanpila’s grim warning comes close on the heels of the Ceylon Electricity Board issuing [...]
DLF launches luxury housing project in Delhi comprising 913 flats; starting price Rs 3 cr
New Delhi, Jan 7 (PTI) Realty major DLF on Friday launched its luxury housing project, comprising 913 units, in the national capital with a starting price of Rs 3 crore. The company has launched a project 'ONE Midtown', comprising 913 luxury flats. DLF is developing this project in partnership with Singapore sovereign wealth fund GIC. [...]
Hero MotoCorp appoints Arun Jaura as CTO; chief compliance officer Neerja Sharma resigns
Mumbai, Jan 7 (PTI) Two-wheeler maker Hero MotoCorp on Friday announced the appointment of industry veteran Arun Jaura as its chief technology officer (CTO) to lead the company's research and development (R&D). The company, in a statement, also announced the resignation of Neerja Sharma, company secretary and chief compliance officer. Jaura, who was the managing [...]
Wheat acreage down nearly 2 pc so far this rabi season, oilseeds up 21 pc
New Delhi, Jan 7 (PTI) Area under wheat coverage has dipped nearly 2 per cent to 333.97 lakh hectares so far during the ongoing Rabi (winter sown) season, according to government data. Wheat sowing area stood at 339.81 lakh hectares in the same period of the previous season. Crop year runs from July to June. [...]
Gold bond issue price fixed at Rs 4,786/gm; subscription opens Monday
Mumbai, Jan 7 (PTI) The issue price for the next tranche of Sovereign Gold Bond Scheme 2021-22, which will open for subscription for five days from Monday, has been fixed at Rs 4,786 per gram, the RBI said on Friday. The Sovereign Gold Bond Scheme 2021-22 - Series IX will be open for subscription for [...]
Invest in Kerala, CM tells top industrialists from Telangana
Hyderabad, Jan 7 (PTI): Kerala Chief Minister Pinarayi Vijayan on Friday invited what he called as responsible industries from Telangana to invest in the southern State by offering them the most literate workforce in the country. The Chief Minister interacted with prominent industry leaders of Telangana, members of CII, CREDAI, representatives of IT, pharma and [...]
Renew Power raises USD 400 mn via dollar bonds
Mumbai, Jan 7 (PTI) ReNew Power has raised USD 400 million from global debt investors, making it the second issue from the country after Reliance Industries' mop-up of USD 4 billion. The renewable energy firm said the money was raised by the Mauritius-based Clean Energy Holdings, a wholly-owned subsidiary of Renew Energy Global Plc that [...]
Life insurers’ new business premium income nearly flat at Rs 24,466 cr in Dec
New Delhi, Jan 7 (PTI) Life insurers' collective new business premium income stayed nearly flat from a year ago at Rs 24,466.46 crore in December 2021, data from Irdai showed on Friday. The new business premium, or the first year premium, of 24 life insurance companies had stood at Rs 24,383.42 crore in December 2020. [...]
People stay away from malls, shopping centres as Covid cases spike in Delhi, Mumbai and B’luru: SCAI
New Delhi, Jan 7 (PTI) Shopping malls have seen footfalls drop by up to 25 per cent in the first week of January 2022 due to restrictions imposed by states to check the spread of coronavirus, according to industry body SCAI. On top of that consumers are also apprehensive about venturing out in the midst [...]
Zypp Electric makes foray into drone logistics segment, ties up with TSAW Drones
Mumbai, Jan 7 (PTI) Zypp Electric, which operates in the last-mile delivery space, announced its foray into the drone logistics segment and said it has partnered with TSAW Drones with its plans to deploy 200 drones in four cities in the first phase, according to a statement. The drones will be added as an extension [...]
Business highlights
New Delhi, Jan 7 (PTI) Following are the top business stories at 1900 hours: BIZ-2NDLD GROWTH Indian economy to grow 9.2 pc in FY22, fastest in world New Delhi: The Indian economy remains on track to regain its position as the world's fastest-growing major economy after official estimates on Friday put the GDP expansion at [...]
Tata Steel’s output grows 2 pc to 7.68 MT in Dec quarter; sales fall 3 pc to 6.88 MT
New Delhi, Jan 7 (PTI) Tata Steel on Friday reported an over two per cent rise in consolidated steel output to 7.68 million tonnes (MT) for the October-December 2021 period. The company's consolidated steel production had stood at 7.51 MT in the corresponding period of the previous financial year 2020-21, the steel giant said in [...]
Sitharaman reviews progress on planned mega LIC IPO
New Delhi, Jan 7 (PTI) Finance Minister Nirmala Sitharaman on Friday reviewed the progress of the planned disinvestment of the country's largest insurer LIC. The initial public offering (IPO) of Life Insurance Corporation (LIC), touted to be the biggest ever in the country's history, is expected to hit the markets by March. "Union Finance Minister [...]
Indian economy to grow 9.2 pc in FY22, fastest in world
New Delhi, Jan 7 (PTI) The Indian economy remains on track to regain its position as the world's fastest-growing major economy after official estimates on Friday put the GDP expansion at a tempered 9.2 per cent this fiscal amid concerns over the impact of a resurgent virus on the fragile recovery. The growth in the [...]
KEC International bags Rs 1,025-cr new orders
New Delhi, Jan 7 (PTI) Engineering, procurement and construction major KEC International on Friday said it has bagged new orders worth Rs 1,025 crore across its various businesses. The company's transmission and distribution business has secured orders for projects in India and the Middle East, the RPG Group firm said in a filing to the [...]
Centre asks Chhattisgarh to fast-track auction of mineral blocks as per recent reforms
New Delhi, Jan 7 (PTI) Coal and mines minister Pralhad Joshi on Friday made a plea to Chhattisgarh Chief Minister Bhupesh Baghel to fast-track the auction of mineral blocks as per the recent reforms in the mineral sector and pointed out that the coal output can be further increased from the states if the land [...]
Deep Jaggi elevated as CEO of IndoStar
Mumbai, Jan 7 (PTI) Brookfield and Everstone-promoted NBFC IndoStar Capital Finance Ltd on Friday elevated Deep Jaggi as its chief executive officer (CEO). The NBFC's Vice Chairman R Sridhar has decided to step down on completion of his five-year term, which will end on April 17, 2022, the lender said in a release. In his current [...]
J&K received USD 2.5 bn in investments, UT no longer sleeping biz destination: Lt Gov Sinha
Dubai, Jan 7 (PTI) Jammu and Kashmir has moved from a "sleeping business destination" to a "land of opportunities" and received USD 2.5 billion in investments last year, Lieutenant Governor Manoj Sinha told business leaders here, assuring them that his government will provide an investment-friendly environment to the global investors. Jammu & Kashmir has inked [...]
Business briefs
DPIIT to organise start-up India innovation week from Jan 10 New Delhi, Jan 7 (PTI) The Department for Promotion of Industry and Internal Trade (DPIIT) on Friday said it is organising the start-up India innovation week from January 10 and registration for stakeholders have started. It will have sessions ranging from topics such as enhancing [...]
Indian economy to grow 9.2% in 2021-22, surpass pre-Covid level: Govt data
New Delhi, Jan 7 (PTI) The Indian economy is estimated to grow at 9.2 per cent in the 2021-22 fiscal, surpassing pre-Covid level in actual terms mainly on account of improved performance especially in farm, mining and manufacturing sectors. The improvement in the economy comes over a GDP contraction of 7.3 per cent during 2020-21 [...]
Jammu & Kashmir Inks 6 Investment Agreements with Global Investors at EXPO2020
Investments to flow in J&K’s real estate, infrastructure, tourism, healthcare sectors among others Dubai, United Arab Emirates (NewsVoir) India’s Union Territory (UT) of Jammu & Kashmir (J&K) has inked six agreements with global investors at EXPO2020 Dubai to bring in investments in the UT’s real estate, infrastructure, tourism, healthcare, manpower employment sectors among others. Shri [...]
Forex reserves down by USD 1.466 bn to USD 633.614 bn
Mumbai, Jan 7 (PTI) The country's foreign exchange reserves declined by USD 1.466 billion to USD 633.614 billion in the week ended December 31, RBI data showed. In the previous week ended December 24, the reserves dipped by USD 587 million to USD 635.08 billion. It touched a life-time high of USD 642.453 billion in [...]
Hinduja Global Solutions shares tank 20%; hit lower circuit limit
New Delhi, Jan 7 (PTI) Shares of Hinduja Global Solutions Limited on Friday tumbled 20 per cent to hit its lower circuit limit. The stock tanked 20 per cent to Rs 2,855.45 -- its lower circuit limit -- on BSE. On NSE, it tumbled 20 per cent to its lower circuit limit of Rs 2,856.65. [...]
Sanathan Textiles files draft papers with Sebi; aims to raise up to Rs 1,300-cr via IPO
New Delhi, Jan 7 (PTI) Yarn manufacturer Sanathan Textiles has filed preliminary documents with markets regulator Sebi to raise as much as Rs 1,300 crore through an initial public offering (IPO). The initial share-sale comprises fresh issue of equity shares aggregating up to Rs 500 crore and an offer-for-sale of up to 1.14 crore equity [...]
Tata CLiQ and Tata CLiQ Luxury Partner with Estee Lauder Companies to Launch Marquee Brands on Their Platforms
Consumers can now browse and shop for the best of Bobbi Brown, Clinique, Estee Lauder, and M·A·C products on Tata CLiQ and Tata CLiQ Luxury Mumbai, Maharashtra, India – Business Wire India Two of India's most prominent e-commerce marketplaces, Tata CLiQ and Tata CLiQ Luxury announced the launch of much-loved beauty brands Bobbi Brown, Clinique, [...]
Rupee gains 8 paise to close at 74.34 against US dollar
Mumbai, Jan 7 (PTI) The Indian rupee eked out 8 paise gains to close at 74.34 against the US dollar on Friday, helped by weaker greenback against key rivals and positive domestic equities. At the interbank forex market, the local unit opened at 74.41 against the greenback and witnessed an intra-day high of 74.25 and [...]
TCS retains passport project; chip-based e-passports soon
Mumbai, Jan 7 (PTI) Largest software exporter TCS on Friday bagged the second phase of the Passport Seva Programme (PSP), after an over decade-long work in the first phase which has witnessed rapid strides in citizens availing the services. The second phase of the PSP, which is already the largest mission-critical e-governance programme in India, [...]
RBI approves Anup Bagchi’s re-appointment as ICICI Bank Executive Director
New Delhi, Jan 7 (PTI) The RBI has approved the re-appointment of Anup Bagchi as the Executive Director of ICICI Bank for three years, even as the bank had cleared the term for five years.The Reserve Bank vide its letter dated January 6, 2022, has approved the re-appointment of Anup Bagchi as an Executive Director [...]
Sebi puts in place disclosure norms for high-value debt-listed entities in connection with RPTs
New Delhi, Jan 7 (PTI) Markets regulator Sebi on Friday came out with disclosure requirements for listed entities, which have listed their debt securities, in relation to related party transactions (RPTs). The new requirement will apply to "high-value debt-listed entities", the Securities and Exchange Board of India (Sebi) said in a circular. High-value debt-listed entities [...]
Northeast making big strides under Modi: Assam Guv
Guwahati, Jan 7 (PTI) The Northeast is making giant strides towards development under the leadership of Prime Minister Narendra Modi and tourism will be a key driver of the region with connectivity and the security situation improving considerably, Assam Governor Jagdish Mukhi said on Friday.Speaking after inaugurating the 9th North East Festival here, he said [...]
BULLION-MUM-CLOSE
MUMBAI, JAN 07 (PTI) CLOSING RATES SILVER SPOT (IN RS PER KILO) : 59991.00 STANDARD GOLD (99.5) : 47392.00 PURE GOLD (99.9) : 47583.00 CALCUTTA BULLION :- SILVER RDY.(BAR) : Rs.60,400.00(61,000.00) Per Kg.SILVER RDY.(PORTION) : Rs.60,500.00(61,100.00) Per Kg.GOLD (24-CARAT) RDY. : Rs.48,100.00(48,450.00) Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.45,650.00(45,950.00) Per 10 Gms.HALLMARKED GOLD (22-CT) RDY.: [...]
TCS Board to consider buyback proposal on Jan 12
New Delhi, Jan 7 (PTI) India's largest IT firm Tata Consultancy Services (TCS) on Friday said its Board will consider a buyback proposal on January 12. "...the Board of Directors will consider a proposal for buyback of equity shares of the company, at its meeting to be held on January 12, 2022," a regulatory filing [...]
J&K Lt. Gov. Sinha invites global businesses to invest in UT’s key sectors
Dubai, Jan 7 (PTI) Lieutenant Governor of Jammu and Kashmir Manoj Sinha has invited global businesses to invest in key sectors, including tourism, handloom and handicraft, to boost the growth of industrial enterprises, cottage and village industries in the Union Territory. Sinha's engagements at the Dubai Expo 2020 were part of the Jammu and Kashmir [...]
ICICI Bank now facilitates online payment of customs duty
New Delhi, Jan 7 (PTI) Private sector lender ICICI Bank on Friday said it now facilitates online payment of customs duty, to benefit both retail and corporate customers. Corporate customers can pay customs duty through the bank's corporate internet banking (CIB) and mobile banking app InstaBIZ, while retail customers can do so through the bank's [...]
Markets return to winning ways; post weekly gains
Mumbai, Jan 7 (PTI) The Sensex and Nifty found firmer ground on Friday as investors accumulated energy, infra and IT stocks amid a mixed trend in overseas markets. Clawing back some lost ground after the previous session's heavy sell-off, the 30-share BSE Sensex ended 142.81 points or 0.24 per cent higher at 59,744.65. Similarly, the [...]
FM reviews PSBs’ readiness to tackle disruption, asks banks to support COVID-affected sectors
New Delhi, Jan 7 (PTI) Finance Minister Nirmala Sitharaman on Friday chaired a meeting with chiefs of public sector banks and assessed their readiness to tackle any possible disruptions due to the Omicron variant.The Finance Ministry said during the meeting with bank CMDs/MDs, held through virtual mode, the minister also asked lenders to support sectors, [...]
Ratan Tata’s Biography Rights Acquired by HarperCollins Publishers
NEW DELHI, Jan. 7, 2022 /PRNewswire/ -- HarperCollins today announced that it has acquired rights to publish the authorized biography of legendary business figure Ratan N. Tata, who is counted among the most influential and inspirational leaders in the world. Ratan N. Tata: The Authorized Biography by Dr Thomas Mathew will be published globally by [...]
Strata, Leading Proptech Startup Crosses 500 Crore AUM Mark
Aims to upscale AUM to Rs. 900 crore by FY22, accelerate product development and diversify investment offerings Mumbai, Maharashtra, India (NewsVoir) Strata, India’s leading tech-enabled commercial real estate (CRE) investment platform, is the first proptech company in the country to have crossed a significant threshold of 500 crores in Assets Under Management (AUM). The company [...]
TANGEDCO ropes in PTC India to procure 1,500 MW electricity; appoints it as aggregator
New Delhi, Jan 7 (PTI) PTC India on Friday said it has been appointed as aggregator for procuring 1,500-megawatt (MW) electricity for five years by Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO). "Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO), owned by Government of Tamil Nadu, has appointed PTC India Ltd as aggregator for [...]
Gadkari lays foundation stone for national highway projects worth Rs 14,169 cr in UP
New Delhi, Jan 7 (PTI) Union Minister for Road Transport and Highways Nitin Gadkari on Friday laid foundation stone of national highway projects worth Rs 14,169 crore in Mathura, Uttar Pradesh. The road ministry in a statement said that with the development of Mathura-Hathras-Budaun-Bareilly Highway, connectivity and traffic issues will be resolved at pilgrimage and [...]
Macrotech Developers shares trim most of early gains; settle with nearly 1 pc gain
New Delhi, Jan 7 (PTI) Shares of Macrotech Developers Ltd on Friday trimmed most of its early gains and settled nearly 1 per cent higher.During the early trade, it jumped over 3 per cent after the realty firm reported a 40 per cent increase in sales bookings during the December quarter.The stock gained 3.23 per [...]
TCS Board to consider buyback proposal on Jan 12
New Delhi, Jan 7 (PTI) India's largest IT firm Tata Consultancy Services (TCS) on Friday said its Board will consider a buyback proposal on January 12. "...the Board of Directors will consider a proposal for buyback of equity shares of the Company, at its meeting to be held on January 12, 2022," a regulatory filing [...]
NEWSALERT
Tata Consultancy Services Board to consider buyback proposal on January 12: Filing. PTI SR BAL BAL
PepsiCo India appoints George Kovoor as Senior Vice-President Beverages
New Delhi, Jan 7 (PTI) PepsiCo India on Friday announced the appointment of George Kovoor as Senior Vice-President (SVP), Beverages. Kovoor will be the General Manager for the beverage business and will also be responsible for creating a long-term sustainability strategy for both the foods and beverage categories, said a PepsiCo India Statement. His appointment [...]
Tata Power leads S&P Global’s ESG score for power utilities in India
New Delhi, Jan 7 (PTI) Tata Power on Friday said it has secured the highest score among its peers in the Indian power sector in S&P Global's recently released corporate sustainability assessment (CSA) results. Giving credence to the company's focus to become the most progressive and preferred green energy brand in India, Tata Power has [...]
Sri Lankan bank pays USD 6.9 mn to Chinese company amid fertiliser row
Colombo, Jan 7 (PTI) A top state-owned bank in Sri Lanka on Friday paid USD 6.9 million to a Chinese company to settle a longstanding dispute triggered over its fertiliser shipment that was rejected by Colombo after it was found to be contaminated. The announcement comes after the Colombo Commercial High Court dissolved an order [...]
Airtel not to avail option of converting interest on dues to equity
New Delhi, Jan 7 (PTI) Telecom operator Bharti Airtel will not avail the option of conversion of the interest on deferred spectrum and AGR dues to equity, under the reforms package, according to a regulatory filing by the company on Friday. Airtel said it has informed the Telecom Department about its decision. "... We wish [...]
COMMODITY PRICES
MUMBAI, JAN 7, 2022 (PTI) METAL PRICES:- COPPER COPPER CABLE SCRAP 726.00 COPPER HEAVY SCARP 716.00 COPPER ARMATURE (CREDIT) 697.00 COPPER UTENSIL SCRAP 633.00 C.C. ROD 760.00 BRASS BASS SHEET CUTTING 537.00 BRASS UTENSIL SCRAP 482.00 BRASS HONEY 475.00 ALUNINIUM ALU. UTENSIL SCRAP 185.00 ALU. EXT SCRAP 208.00 ALU. INGOTS. 238.00 OTHER GUN METAL SCRAP [...]
PepsiCo launches limited edition festive packs of 7Up for TN market
Chennai, Jan 7 (PTI) Food and beverage major PepsiCo has unveiled specially curated limited edition packs of its popular soft drink '7Up' for the Tamil Nadu market in view of the forthcoming harvest festival Pongal, the company said on Friday. 7Up has been launched in an all-new limited edition festive pack featuring the mascot 'Fido [...]
Wheat sowing down marginally at 333.97 lakh hectares so far this rabi season: Agri Min
New Delhi, Jan 7 (PTI) Area sown to wheat, the main rabi crop, was down by 1.71 per cent at 333.97 lakh hectares so far in the ongoing 2021-22 rabi season as there was less coverage in Uttar Pradesh, Haryana and Madhya Pradesh, according to the latest data released by the Agriculture Ministry on Friday. [...]
Macrotech Developers forms 11 JVs since April last year to develop projects worth Rs 14,500 cr
New Delhi, Jan 7 (PTI) Realty firm Macrotech Developers has entered into 11 joint development agreements (JDAs) with landowners so far this fiscal year, with an estimated sales revenue potential of Rs 14,500 crore.Mumbai-based Macrotech Developers, which is one of the leading real estate developers in India, markets its properties under Lodha brand. It got [...]
PhonePe logs annualised TPV of USD 651 bn, crosses 350 mn user-mark
New Delhi, Jan 7 (PTI) Fintech major PhonePe on Friday said it has logged an annualised total payment value (TPV) of USD 651 billion in December and reported 150 million monthly active users (MAU). The company has also crossed 350 million lifetime registered users, which essentially means that one in four Indians now use PhonePe, [...]
Sensex rebounds 143 pts; Nifty ends above 17,800
Mumbai, Jan 7 (PTI) Equity benchmark Sensex rebounded 143 points on Friday, boosted by gains in index majors Reliance Industries, TCS and ICICI Bank amid a mixed trend in global markets. The 30-share index ended 142.81 points or 0.24 per cent higher at 59,744.65. Similarly, the NSE Nifty rose 66.80 points or 0.38 per cent [...]
Rupee gains 12 paise to close at 74.30 against US dollar
Mumbai, Jan 7 (PTI) The rupee gained 12 paise to close at 74.30 (provisional) against the US dollar on Friday, tracking positive domestic equities. At the interbank forex market, the local unit opened at 74.41 against the greenback and witnessed an intra-day high of 74.25 and finally ended the day at 74.30, registering a gain [...]
OILSEEDS PRICES
MUMBAI, JANUARY 7, 2022 (PTI) MUMBAI - G.Nut Raw 1320.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1180.00 Sunflower Exp.Ref. 1245.00 Cottonseed(Refined) 1215.00 Refined Palm Oil 1165.00 Soyabean Ref. 1200.00 Imp.Soyabean Crude - Rapeseed Ref. 1580.00 Rapeseed Exp. 1550.00 Copra white 1650.00 Rice Bran 4-7% FFA - Rice Bran 1090.00 Linseed 1890.00 Castor Comm. [...]
NRAI writes to top mall owners, landlords seeking rental waiver for F&B retailers
New Delhi, Jan 7 (PTI) Amid rapidly rising coronavirus cases, the National Restaurant Association of India (NRAI) on Friday wrote to top mall owners and landlords seeking a complete waiver of rentals and common area maintenance in case food and beverage businesses are completely shut for dine-in. The restaurant body suggested pure revenue share for [...]
India to become hub for Covid-19 antiviral generic drugs: Fitch
D r. Reddy’s Laboratories, Torrent Pharmaceuticals, Cipla, Sun Pharma, Natco Pharma, Viatris, Hetero Drugs and Mankind Pharma were granted emergency-use authorisation to manufacture and market generic versions of molnupiravir.Increased access to molnupiravir will keep hospitalisations and deaths in India to a manageable level as Omicron infections rise, Fitch Solutions said in a report.These oral antiviral [...]
Gold declines Rs 301; silver tumbles Rs 402
New Delhi, Jan 7 (PTI) Gold in the national capital on Friday tumbled Rs 301 to Rs 46,415 per 10 gram in line with a decline in international prices of the precious metal, along with a rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,716 per 10 [...]
Housing sales in Pune up 12% in 2021; prices may rise 7-8% this year: Gera Developments
New Delhi, Jan 7 (PTI) Housing sales in Pune rose 12 per cent to 92,896 units last year on better demand and are likely to grow further this year despite the ongoing COVID pandemic, according to a report by realty firm Gera Developments.The company on Friday released its half yearly 'GERA Pune Residential Realty Report' [...]
JSW Steel earmarks Rs 15,000 cr to set up 5 MTPA capacity in Vijaynagar by FY24
New Delhi, Jan 7 (PTI) JSW Steel on Friday said it has earmarked an investment of Rs 15,000 crore to set up 5 million tonne per annual (MTPA) steel-making capacity at its integrated plant in Vijayanagara, Karnataka. In this regard, Union Steel Minister Ram Chandra Prasad Singh on Friday laid the foundation stone of the [...]
HDFC Bank starts online customs duty payment facility for customers
New Delhi, Jan 7 (PTI) HDFC Bank's integration with Central Board of Indirect Taxes and Customs (CBIC) ICEGATE platform has gone live, allowing customers to pay for their customs duty directly via the bank. With this, the bank will offer customers the convenience of directly paying customs duty by selecting HDFC Bank, the lender said [...]
Copper futures rise on high spot demand
New Delhi, Jan 7 (PTI) Copper prices on Friday rose 0.47 per cent to Rs 739.40 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 3.45, or 0.47 per cent, to Rs 739.40 per [...]
Zinc futures edge higher on robust demand
New Delhi, Jan 7 (PTI) Zinc prices on Friday rose Rs 2.15 to Rs 291.60 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 2.15, or 0.74 per cent, to Rs 291.60 per kg with a business turnover of [...]
Nickel futures rise on firm spot demand
New Delhi, Jan 7 (PTI) Nickel prices on Friday increased by 0.86 per cent to Rs 1,567.90 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 13.30, or 0.86 per [...]
India to overtake Japan as Asia’s 2nd largest economy by 2030: IHS
India is the sixth-largest economy in the world and its GDP is projected to surpass that of Germany, the UK and Japan and rank as the world’s No.3, as per IHS Markit.Its GDP is expected to rise from USD 2.7 trillion in 2021 to USD 8.4 trillion by 2030 and is expected to continue growing [...]
Silver futures drop on subdued demand
New Delhi, Jan 7 (PTI) Silver futures on Friday eased by Rs 36 to Rs 60,390 per kg as participants reduced their bets on low demand.On the Multi Commodity Exchange, silver contracts for the March delivery declined Rs 36, or 0.06 per cent, to Rs 60,390 per kg in a business turnover of 18,022 lots.The [...]
Crude oil futures gain on higher demand
New Delhi, Jan 7 (PTI) Crude oil prices on Friday rose by Rs 48 to Rs 5,947 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 48, or 0.81 per cent, at Rs 5,947 per barrel in 12,047 [...]
Saraf Furniture to hire over 200 specially-abled individuals, invest Rs 10 cr on capex in 2022
New Delhi, Jan 7 (PTI) Online furniture seller Saraf Furniture on Friday said it will hire over 200 specially-abled individuals for its off-field work activities in 2022. The company will also invest Rs 10 crore for expanding existing product portfolio and launch new products in 2022, it said in a statement. It will be focusing [...]
Gold futures fall on low demand
New Delhi, Jan 7 (PTI) Gold prices on Friday fell Rs 96 to Rs 47,355 per 10 grams in the futures trade as speculators reduced their positions amid low demand.On the Multi Commodity Exchange, gold contracts for February traded lower by Rs 96, or 0.2 per cent, to Rs 47,355 per 10 grams in a [...]
Confident in clinical profile of molnupiravir; no safety concerns during phase-3 trial: MSD India
New Delhi, Jan 7 (PTI) MSD Pharmaceuticals, a wholly-owned subsidiary of Merck Sharp & Dohme and known as Merck & Co Inc, on Friday said it is confident in the clinical profile of molnupiravir, which demonstrated a significant reduction in the risk of hospitalisation or death in case of COVID-19 patients in the Phase-III clinical [...]
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