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Stock backed by Govt. of Singapore jumps 4% after receiving approval for ₹12,000 Cr Residential Project

A real estate stock backed by the Government of Singapore experienced a 5% surge in trading on Tuesday following the announcement of a significant project approval. The company secured the Real Estate Regulatory Authority (RERA) approval for a new development project with an estimated Gross Development Value (GDV) of Rs.9,000 crore.  Price Movement During Wednesday’s [...]

Textile stock skyrockets 13% after company’s net profit increases by 52% YoY

The shares of the textile company, one of the largest women's bottom-wear brands in India, jumped up to 13 percent after announcing its Q4 results, which showed a 52 percent year-on-year (YoY) increase in profit. Price action With a market capitalization of Rs. 4,255.91 crores on Wednesday, the shares of Go Fashion (India) Ltd jumped [...]

Fertilizer stock jumps after reporting 253% YoY increase in net profits

During Wednesday’s trading session, the shares of India’s leading agri-solutions provider offering diverse products and services across the farming value chain are in focus on the stock exchanges, after reporting Q4 FY25 financial results with a rise in net profit by around 14 percent QoQ and 253 percent YoY. Price Movements With a market capitalisation [...]

EV stock crashes after announcing its Q4 results

During Wednesday’s trading session, the shares of a company primarily engaged in the manufacturing of storage batteries moved down by nearly 5 percent on BSE, after the company reported financial results for Q4 FY25. Price Movements With a market capitalisation of Rs. 30,022 crores, at 03:17 p.m., the shares of Exide Industries Limited were trading [...]

Solar stock jumps 6% after receiving order worth ₹50 Cr for solar power plant

During Wednesday’s trading session, the price of a solar equipment manufacturing company surged up to 6% intraday after securing an order worth 50.52 crore from Braithwaite & CO. Limited Price movement With a market capitalization of Rs. 414.5 crores, on Wednesday, the shares of GP Eco Solutions India Ltd were trading up by close to [...]

Auto ancillaries stock in focus after company to invest ₹423 Cr for EV Powertrain Project

The share of the Auto Ancillaries - Electrical company recovered 3 percent from its day low after announcing a joint venture manufacturing of High Voltage EV powertrain products. Price Movements With the market capitalization of Rs 51,680 Crores, the share of Uno Minda Ltd is up by 0.99 percent compared to the previous close of [...]

When will Nifty 50 hit 25,000 and Bank Nifty break 56,000? Here’s everything you need to know

The Indian stock market has experienced a significant rally recently, with the Nifty 50 and Bank Nifty showing considerable consolidation now. As global and domestic market conditions continue to evolve, investors and traders are left wondering whether the Nifty 50 can climb above 25,000 and if the Bank Nifty can surpass 56,000 during this sideways [...]

Aerospace space stock that has partnership with Rolls Royce to buy now for an upside of 20% 

The shares of this smallcap company jumped around 6 percent in Wednesday’s trading session after International brokerage Investec initiated coverage with a "buy" rating. The stock has delivered more than 100 percent on a YTD basis.  Price Movement:  With a market capitalization of Rs. 9,465 crores, the shares of Azad Engineering Ltd started Wednesday’s trading [...]

Auto ancillary stock jumps 5% after it partners with Chinese company to expand its EV business

Shares of this leading automotive component manufacturer increased by nearly 5 percent following the signing of an agreement with Sanco Connecting Technology, China, to provide Electrical Distribution Systems (EDS) solutions for the EV market.  Share Price Movement  During Wednesday's trading session, Minda Corporation Limited's share price opened at Rs.565 and peaked at Rs.589, marking a [...]

Are bank stocks in trouble? Should you hold or book profits?

The Indian banking sector is experiencing strong profitability and significant credit growth, with net profits reaching record levels and NPAs substantially reduced. However, challenges remain, including risks associated with infrastructure lending, rising interest rates, and cybersecurity concerns.  Here’s a list of banking stocks that Morgan Stanley has downgraded, urging caution: Federal Bank Limited  With a [...]

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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 [...]
7
May 30, 2025

Why Mutual Funds Remain a Popular Choice in 2025

Editor's Pick, Mutual Fund

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. [...]

May 30, 2025
7
Oct 12, 2024

₹430 to ₹14,136: Pharma stock turns ₹10,000 to ₹3.29 Lakhs in just 5 years

Editor's Pick, News

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 [...]

Oct 12, 2024

Latest Market News

KOLKATA BULLION CLOSING

Kolkata, Jan.07(PTI): 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. : Rs.46,350.00(46,650.00) Per 10 Gms. ---- PTI SAM

Goyal gives five growth mantras for BIS

New Delhi, Jan 7 (PTI) Food and Consumer Affairs Minister Piyush Goyal on Friday gave the Bureau of Indian Standards (BIS) five growth mantras including being a facilitator and not an obstructor and ensuring that maintaining quality is not expensive and it is cost effective. Congratulating the BIS on its 75th anniversary, the Minister said [...]

HDFC Bank Goes Live for Customs Duty Payments

HDFC Bank, largest private sector agency bank to Government of India Mumbai, Maharashtra, India – Business Wire India HDFC Bank today announced that its integration with Central Board of Indirect Taxes and Customs (CBIC) ICEGATE platform has gone live. With this, the Bank will offer customers the convenience of directly paying Customs Duty by selecting [...]

EKI Energy forms new firm GHG Mitigation Tech for backward integration of carbon credits

New Delhi, Jan 7 (PTI) EKI Energy Services has incorporated a new venture GHG Mitigation Technologies for the backward integration of carbon credit supply through its green cooking initiative.EKI Energy Services Ltd (EKIESL), a leading developer and supplier of carbon credits (environmental commodity) in the World, announced the incorporation of a new associate GHG Mitigation [...]

DIRECT EXCHANGE RATES-SBI

MUMBAI, JAN 7,2022 (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 CODE TTBUY TTSELL BILLBUY BILLSELL USD/INR 73.65 75.15 73.59 75.31 EURO EUR/INR 82.64 85.49 82.57 85.67 GBP/INR 99.21 102.41 99.13 102.61 JPY/INR 63.14 65.30 63.09 [...]

upGrad appoints Vikram Vyas as VP Growth, International Sales

New Delhi, Jan 7 (PTI) Edtech major upGrad on Friday said it has appointed Vikram Vyas as Vice President - Growth, International Sales for the Asia Pacific and EMEA (Europe, Middle East and Africa) regions. The leadership addition is part of upGrad's strategy to scale up operations in the global higher education space, a statement [...]

Soybean futures rise on fresh bets

New Delhi, Jan 7 (PTI) Soybean prices on Friday went up by Rs 6 to Rs 6,313 per quintal in futures market as traders created fresh positions tracking positive spot demand.On the National Commodity and Derivatives Exchange, soybean for January delivery rose by Rs 6, or 0.1 per cent, to Rs 6,313 per quintal with [...]

Refined soya oil fall on low demand

New Delhi, Jan 7 (PTI) Refined soya oil prices on Friday fell Rs 1.1 to Rs 1,190 per 10 kg in futures trade as speculators reduced holdings amid subdued demand in spot market.On the National Commodity and Derivatives Exchange, refined soya oil for delivery in January declined by Rs 1.1, or 0.09 per cent, to [...]

Guar seed futures rise on fresh bets

New Delhi, Jan 7 (PTI) Guar seed prices on Friday rose by Rs 55 to Rs 6,215 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend in spot market.On the National Commodity and Derivatives Exchange, guar seed for January contracts increased by Rs 55, or 0.89 per cent, [...]

Date : Jan 07, 2022

Money Market Operations as on January 06, 2022 (Amount in ? crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) WeightedAverage Rate Range A. Overnight Segment (I+II+III+IV) 5,16,390.93 3.23 0.01-5.15 I. Call Money 7,519.83 3.21 2.00-3.45 II. Triparty Repo 3,95,862.75 3.22 3.15-3.40 III. Market Repo 1,12,983.35 3.25 0.01-3.50 IV. Repo in Corporate Bond 25.00 [...]

Govt selects TCS to drive next phase of Passport Seva Program

New Delhi, Jan 7 (PTI) Tata Consultancy Services on Friday said it has been selected by the Ministry of External Affairs (MEA) for the second phase of the Passport Seva Program. In the next phase of the programme, TCS will refresh existing facilities and systems, and develop innovative solutions to enable the issuance of e-passports [...]

Coriander futures rise on spot demand

New Delhi, Jan 7 (PTI) Coriander prices on Friday rose Rs 80 to Rs 9,462 per quintal in futures trade as speculators widened their holdings tracking firm trend in spot market.On the National Commodity and Derivatives Exchange, coriander for January delivery went up Rs 80, or 0.85 per cent, to Rs 9,462 per quintal with [...]

Cottonseed oil futures fall on soft demand

New Delhi, Jan 7 (PTI) Cottonseed oil cake prices on Friday declined by Rs 17 to Rs 3,385 per quintal in futures trade as participants reduced their bets tracking a weak trend in spot market.Analysts said sell-off by participants at existing levels amid subdued trend in market mainly weighed on cottonseed oil cake prices.On the [...]

CSS Corp appoints Ashok Philipose as Chief Delivery Officer

New Delhi, Jan 7 (PTI) Customer experience and technology services provider CSS Corp on Friday said it has appointed former Wipro executive Ashok Philipose as its Executive Vice President and Chief Delivery Officer.Philipose will lead CSS Corp's global delivery and operations, and also serve as an integral part of the executive leadership team, influencing the [...]

PRICES MUM GENERAL

MUMBAI, JAN 07 (PTI) OPENING RATES SILVER SPOT (IN RS PER KILO) : 59801.00 STANDARD GOLD (99.5) : 47375.00 PURE GOLD (99.9) : 47566.00 CALCUTTA BULLION :- SILVER RDY.(BAR) : Rs.61,000.00 Per Kg.SILVER RDY.(PORTION) : Rs.61,100.00 Per Kg.GOLD (24-CARAT) RDY. : Rs.48,450.00 Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.45,950.00 Per 10 Gms.HALLMARKED GOLD (22-CT) RDY. [...]

I-T dept recovers Rs 8 crore, 3 kg gold in raids on MP businessmen

Damoh, Jan 7 (PTI) The Income-Tax department has recovered Rs 8 crore in cash and three kilogram gold besides incriminating documents in raids on the premises of businessman Shankar Rai and his brothers in Madhya Pradesh's Damoh district, an official said on Friday. The raids, which began on early Thursday, were still continuing, Income Tax [...]

Zuddl raises USD 13.35 Mn in Series A led by Alpha Wave Incubation and Qualcomm Ventures

- The fundraise will help Zuddl accelerate product development and scale globally BOSTON and BENGALURU, India, Jan. 7, 2022 /PRNewswire/ -- Zuddl, the all-in-one platform for virtual and hybrid events, today announced it has closed $13.35 mn in Series A funding, led by Alpha Wave Incubation (AWI), which is backed by DisruptAD, ADQ's venture platform, [...]

HFCL Accelerates International Business, further Strengthens its Leadership Team with Three New Leaders

Delhi, India (NewsVoir) HFCL Limited (HFCL), leading telecom equipment manufacturer and technology provider is poised for scaling its international business. HFCL’s strategy is to enter new products, new geographies and to reach new customers and hence, to strengthen the Company’s leadership team, HFCL welcomes three industry veterans. HFCL in its wholly-owned subsidiary in the Netherlands [...]

John Jacobs Unveils Their Biggest Store In Mumbai For The New Year

MUMBAI, India, Jan. 7, 2022 /PRNewswire/ -- John Jacobs plans to expand its retail strategy in India with a bang this new year. Post the grand unveil on the 29th of December 2021, the eyewear brand is making its presence known with a 1200 square feet store in one of Mumbai's most premium high-street locales, [...]

Lupin launches Molnulup for COVID-19 treatment

New Delhi, Jan 7 (PTI) Drugmaker Lupin on Friday said it has launched antiviral medication Molnupiravir under the brand name Molnulup in the country for the treatment of COVID-19.Molnupiravir has been given emergency use authorisation by the Drug Controller General of India (DCGI) for treatment of adult COVID-19 patients who have a high risk of [...]

APEDA identifies potential districts of UP under Varanasi Agri-Export Hub to boost exports

New Delhi, Jan 7 (PTI) The commerce ministry's arm APEDA on Friday said it has identified potential districts of Uttar Pradesh to be covered under the Varanasi Agri-Export Hub (VAEH) for promotion of exports from that region. The Agricultural and Processed Food Products Export Development Authority (APEDA) has taken initiatives to promote exports from the [...]

KOLKATA BULLION OPENING

Kolkata, Jan.07(PTI): SILVER RDY.(BAR) : Rs.61,000.00 Per Kg. SILVER RDY.(PORTION) : Rs.61,100.00 Per Kg. GOLD (24-CARAT) RDY. : Rs.48,450.00 Per 10 Gms. GOLD (22-CARAT) RDY. : Rs.45,950.00 Per 10 Gms. HALLMARKED GOLD (22-CT) RDY. : Rs.46,650.00 Pewr 10 Gms ---- PTI SAM

Shiprocket to acquire 75% stake in Wigzo Tech

Mumbai, Jan 7 (PTI) E-commerce shipping firm Shiprocket on Friday said it has “committed” to acquire a 75 per cent stake in customer data platform (CDP) Wigzo Tech.The proposed strategic acquisition will enable Shiprocket to expand its product stack for online retailers onboarding its platform, among others, the startup said in a release without disclosing [...]

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 into 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 [...]

Zuddl raises USD 13.35 mn funding from Alpha Wave Incubation, Qualcomm Ventures, others

New Delhi, Jan 7 (PTI) Zuddl, a virtual and hybrid events platform, on Friday said it has raised USD 13.35 million (about Rs 99.2 crore) in funding, led by Alpha Wave Incubation (AWI) and Qualcomm Ventures LLC. The Series A round also saw participation from existing investors GrowX and Waveform Ventures, a statement said. The [...]

Enjoy High FD Interest Rates with Bajaj Finance to Build a Contingency Fund

Pune, Maharashtra, India (NewsVoir) Emergencies can come out of nowhere and leave even the most strategic and financially stable individuals blindsided. A contingency fund is the best hope of getting through it, as dipping into savings can prove problematic. This is because emergencies often require more funds than anyone can anticipate. For instance, in the [...]

Macrotech Developers shares jump over 3% after robust Q3 sales bookings data

New Delhi, Jan 7 (PTI) Shares of Macrotech Developers Ltd on Friday 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 cent to Rs 1,240 on the BSE. At the NSE, it jumped 3.18 per cent to [...]

Business schedule for Friday, Jan 7

Business schedule for Friday, Jan 7 DELHI: * National Statistics Office (NSO) to release first advance estimate for GDP for FY22 MUMBAI: * No major event listed. PTI BAL BAL

Alembic Pharma gets tentative USFDA approval for depressive disorder drug

New Delhi, Jan 7 (PTI) Alembic Pharmaceuticals Ltd on Friday said it has received tentative approval from the US health regulator for its generic Vortioxetine tablets indicated for the treatment of the major depressive disorder.  The tentative approval granted by the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for [...]

Rupee gains 11 paise to 74.31 against US dollar in early trade

Mumbai, Jan 7 (PTI) The rupee appreciated by 11 paise to 74.31 against the US dollar in opening trade on Friday, tracking gains in domestic equity markets.At the interbank foreign exchange, the rupee opened up at 74.41 against the American dollar, then inched higher to 74.31, registering a rise of 11 paise from the last [...]

MGM Healthcare Achieves a Rare Feat of Performing Combined Procedures of Living Donor Liver Transplantation and Coronary Artery Bypass Graft on a Patient

Chennai, Tamil Nadu, India – Business Wire India MGM Healthcare, Chennai today showcased a successful and a rare and a complex surgery performing a living liver donor transplantation and a beating-heart bypass surgery on a 61-year-old male from Nellore in a single sitting. The dual surgery spanning over 18 hours witnessed 15 doctors from various [...]

Sensex surges over 330 pts in early trade; Nifty tops 17,800

Mumbai, Jan 7 (PTI) Equity benchmark Sensex jumped 335 points in opening trade on Friday, tracking gains in index-heavyweights ICICI Bank, Reliance Industries and HDFC Bank amid mixed cues from Asian markets. The BSE index was trading 335.30 points or 0.56 per cent higher at 59,937.14 in early trade. Likewise, the Nifty advanced 101.80 points [...]

Innoviti Raises Rs. 80 Cr. in a First Close in Ongoing Series D Round

- Valuation multiplies 2.5X as company approaches profitability BENGALURU, India, Jan. 6, 2022 /PRNewswire/ -- • Series D funding, a mix of debt and equity, was carried out by Trifecta Debt Fund, Patni Advisors, and Bessemer Venture Partners. Sanjoy Bhattacharya, the doyen amongst value investors, Bharat Jaisinghani, and a clutch of other individual investors also [...]

Sri Lanka, India ink deal to jointly redevelop strategic Trincomalee Oil Tank Complex

Colombo, Jan 6 (PTI) Sri Lanka on Thursday signed an agreement with India to jointly redevelop the strategic World War II-era oil tank farm in the island nation's eastern port district of Trincomalee, in a new milestone in bilateral economic and energy partnership.Energy Minister Udaya Gammanpila said that the agreement to develop the strategic Trincomalee [...]

Commerce ministry restarts COVID-19 helpdesk to resolve import, export issues

New Delhi, Jan 6 (PTI) The commerce ministry on Thursday restarted its COVID-19 helpdesk to help resolve issues of exporters and importers related to international trade such as customs clearance delays and banking matters amid rising coronavirus cases. It was first started in April 2021. The Directorate General of Foreign Trade (DGFT), an arm of [...]

Private Equity inflows spurt 15% in 2021 to record USD 40 bn

Mumbai, Jan 6 (PTI) Private equity investments hit a record high of USD 40.1 billion in 2021, an increase of over 15 per cent from the previous year, led by a USD 3.6 billion flow into Flipkart and USD 1.93 billion into Bundl Technologies, as per a report. According to the data collated by Refinitiv, [...]

Irdai to set up hubs on motor, property insurances

New Delhi, Jan 6 (PTI) The regulator Irdai on Thursday decided to set up two hubs on motor insurance and property insurance and also an advisory committee with the overall objective to promote loss prevention measures in the general insurance industry. "It has been decided to form a hub on property insurance at 'National Insurance [...]

HCL Tech completes acquisition of 51% stake in Gesellschaft für Banksysteme GmbH

New Delhi, Jan 6 (PTI) HCL Technologies on Thursday said it has completed the acquisition of a 51 per cent stake in German IT consulting company Gesellschaft für Banksysteme GmbH (GBS). In December, HCL Technologies had announced that it will acquire 51 per cent stake in GBS. Deutsche Apotheker- und Ärztebank eG (apoBank), the largest [...]

Women directors mandate tokenism; regulation wording ‘humorous’: Damodaran

Mumbai, Jan 6 (PTI) Former Sebi chairman M Damodaran on Thursday termed the mandate to have independent women directors on company boards as mere "tokenism", stating that firms are adhering to the guideline just for compliance. Damodaran also called the wording of the regulation "humorous", saying there is nothing like an "independent woman director" as [...]

DPIIT to come out with revised FDI policy to facilitate LIC disinvestment: Secy

New Delhi, Jan 6 (PTI) The commerce and industry ministry is making changes in the foreign direct investment (FDI) policy to facilitate disinvestment of the country's largest insurer LIC, after taking views from the finance ministry, a top government official said on Thursday. Anurag Jain, secretary in the Department for Promotion of Industry and Internal [...]

Shapoorji Pallonji sells 1.84 cr shares of SWREL to Reliance

New Delhi, Jan 6 (PTI) Shapoorji Pallonji and Company on Thursday said it has sold 1.84 crore shares of Sterling And Wilson Renewable Energy (SWREL) to Reliance New Energy Solar after which its stake in SWREL has come down to 33.06 per cent. Earlier, Shapoorji's stake in SWREL was 42.76 per cent. "Shapoorji Pallonji and [...]

Centre working on resolving logistics problems in NE to tap agri export potential: Tomar

New Delhi, Jan 6 (PTI) Agriculture Minister Narendra Singh Tomar on Thursday said the Centre is working towards resolving the logistics problem faced in the northeastern state in a bid to tap the agri-export potential. Tomar also said the central government will do everything in its capacity to ensure that the income of the farmers [...]

We can meet demand of 19,000 MT of oxygen per day if needed: DPIIT Secy

New Delhi, Jan 6 (PTI) The government is much better prepared to deal with the rising coronavirus cases and if required, the country can meet demand of 19,000 metric tonnes (MT) of oxygen per day, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Anurag Jain said on Thursday. He also said the Omicron [...]

FM assures industry BCD on solar modules will be implemented from April 1

New Delhi, Jan 6 (PTI) Finance Minister Nirmala Sitharaman has assured that basic custom duty on solar modules will be implemented from the scheduled date of April 1, 2022, a move that will save domestic players from stiff price competition from imported modules, according to industry body NIMMA. A delegation comprising officials from NIMMA, Indian [...]

CVC expands scope of banking frauds panel to cases above Rs 3 cr

New Delhi, Jan 6 (PTI) The Central Vigilance Commission (CVC) on Thursday expanded the scope of the Advisory Board for Banking and Financial Frauds (ABBFF), which would now examine bank frauds of Rs 3 crore and above and recommend action. Till now, the ABBFF was only looking into banking and financial frauds of Rs 50 [...]

Haryana is leading state in solar pumps installation: Khattar

Chandigarh, Jan 6 (PTI) Chief Minister Manohar Lal Khattar on Thursday said Haryana is a leading state in the installation of solar water pumps to promote micro-irrigation under the Pradhan Mantri Kisan Urja Suraksha Utthaan Mahabhiyan (PM-KUSUM). Khattar provided solar pumps to the farmers during an inauguration programme held through videoconferencing from Chandigarh. The government [...]

Polytrade announces listing on cryptocurrency exchange CoinDCX

New Delhi, Jan 6 (PTI) Polytrade Finance, a decentralised finance (DeFi) lending platform providing working capital to SMEs in the real world using crypto liquidity, on Thursday announced its listing on cryptocurrency exchange CoinDCX. "$TRADE listing on CoinDCX will provide its 75 lakh-plus Indian users with another avenue to access trade tokens," the decentralised finance [...]

JSPL chief briefs Odisha govt on progress of mega steel project at Angul

Bhubaneswar, Jan 6 (PTI) Jindal Steel & Power Ltd (JSPL) has said its chairman Naveen Jindal briefed the Odisha government on the progress made on the company's plan to expand the capacity of its existing steel plant in Angul.Odisha’s High-Level Clearance Authority, headed by Chief Minister Naveen Patnaik, last year approved the JSPL’s proposal to [...]

Business highlights

New Delhi, Jan 6 (PTI) Following are the top business stories at 1934 hours: DEL83 BIZ-2NDLD CAB-GREEN ENERGY Cabinet nod for 2nd phase of Green Energy Corridor with Rs 12,000 cr outlay New Delhi: The Union Cabinet on Thursday gave its nod to investing Rs 12,031 crore for laying transmission lines to evacuate electricity generated [...]

FMCG distributors call off stir against Colgate after talks

New Delhi, Jan 6 (PTI) FMCG distributors on Thursday said it has suspended their boycott of certain products of oral care maker Colgate after talks with the company representatives over the issue of the price disparity between the traditional distributors and organised business-to-business channel. A day after a virtual meeting with Colgate-Palmolive (India) Ltd (CPIL) [...]

Godrej Consumer expects margin dilution, low volume growth in Q3

New Delhi, Jan 6 (PTI) Godrej Consumer Products Ltd (GCPL) on Thursday said it is expecting a low volume growth and margin dilution in December quarter due to some short-term challenges such as unprecedented inflation during the period. The Godrej group FMCG arm expects to deliver close to "high single-digit" sales growth in the domestic [...]

Adani group says won tender to supply imported coal to NTPC

New Delhi, Jan 6 (PTI) Billionaire Gautam Adani's port-to-energy conglomerate on Thursday said it had won a contract to supply imported coal to state-owned electricity generator NTPC but played down its significance saying the volume of 1 million tonnes was small. "NTPC has awarded the contract to the company for the supply of 1 million [...]

BGE-BULLION-CLOSE

Bengaluru, Jan 6 (PTI) Closing bullion rates on Thursday Standard gold (99.5 purity) Rs 49,300 per 10 gram Ornament gold Rs 4,598 per gram Silverspot (.999 fineness) Rs 62,200 per kg. PTI DVR BN BN

BharatPe co-founder Ashneer Grover says viral audio clip with abuse is fake

New Delhi, Jan 6 (PTI) BharatPe co-founder Ashneer Grover on Thursday said a viral audio clip claiming to be of him verbally abusing a bank employee for not getting share allotment in Nykaa's initial public offering (IPO) is "fake" and is an attempt for extorting money. A tweet on Wednesday morning by an account named [...]

ARECA-COCONUT-PRICES

Mangaluru, Jan 6 (PTI) Following are today's Areca and Coconut prices. Areca (per QTL) Old Supari : Rs 48000 to Rs 53000 model Rs 50000 New Supari : Rs 40000 to Rs 45000 model Rs 43000 Koka : Rs 35000 to Rs 39500 model Rs 37500 Coconut (per thousand): 1st qlty : Rs 18000 to [...]

Pickrr launches early COD option for sellers

Mumbai, Jan 6 (PTI) Logistics tech startup Pickrr on Thursday said it has launched an early COD (cash on delivery) service for its sellers that will help in faster money transfers to their bank.With the early COD option, the company aims to support its sellers and help them get money in their accounts within a [...]

HDFC Life completes acquisition of Exide Life; to start merger soon

New Delhi, Jan 6 (PTI) HDFC Life on Thursday announced the closure of the acquisition Exide Life deal, which will pave the way for increasing its presence in the south India market. The private sector insurer acquired a 100 per cent stake in Exide Life from its parent Exide Industries after issuing over 8.7 crore [...]

Cabinet nod for 2nd phase of Green Energy Corridor with Rs 12,000 cr outlay

New Delhi, Jan 6 (PTI) The Union Cabinet on Thursday gave its nod to investing Rs 12,031 crore for laying transmission lines to evacuate electricity generated from renewable power projects in seven states. The project, called Green Energy Corridor Phase-II, would involve laying 10,750 circuit kilometers of transmission lines by 2026, Union minister Anurag Thakur [...]

SEA asks Centre to exempt soyabean oil from GM labelling

New Delhi, Jan 6 (PTI) Edible oil industry body SEA on Thursday demanded the Centre to exempt soyabean oil from declaration as genetically modified (GM) food on the label of the packaged product, saying the oil does not have traces of GM despite being crushed from GM soyabean. The Union consumer affairs ministry has asked [...]

MSN to launch generic anti-COVID pill Molnupiravir under ‘Molulow’ brand

New Delhi, Jan 6 (PTI) Pharmaceuticals firm MSN Group on Thursday said it will launch its generic anti-COVID-19 pill Molnupiravir under the brand 'Molulow' in India. The group is all set to launch the generic Molnupiravir 200 mg capsules and it is being manufactured at its USFDA and MHRA accredited facility based out of Hyderabad, [...]

Future Group stocks bounce back; rally as much as 5.5 pc at close of trade

New Delhi, Jan 6 (PTI) Shares of Future Group of companies bounced back and settled with as much as 5.5 per cent gains on Thursday, a day after the Delhi High Court stayed the Amazon-Future arbitration. The Delhi High Court on Wednesday stayed the Amazon-Future arbitration which is going on before a three-member arbitral tribunal [...]

Rupee dips 4 paise to 74.42 against USD

Mumbai, Jan 6 (PTI) The rupee on Thursday dipped 4 paise to close at 74.42 against the US dollar, tracking the strength of the greenback in the overseas market after hawkish US Fed minutes. Investors saw minutes from the Federal Reserve meeting as a sign that the US central bank might hike interest rates faster [...]

Jio users can now set standing instructions for tariff plans via UPI auto-debit

New Delhi, Jan 6 (PTI) Jio users can now set standing instructions for auto-debit for their tariff plans through UPI after a tie-up between the telecom player and NPCI.National Payments Corporation of India (NPCI) and Jio in a joint announcement on Thursday said UPI AUTOPAY has now been introduced for the telecom industry with Jio.This [...]

Allow 24×7 truck movement till ports in Maha, Karnataka to raise pace of sugar export: AISTA

New Delhi, Jan 6 (PTI) With maximum quantities of exportable sugar getting lifted from Maharashtra and Karnataka putting pressure on logistics, trade body AISTA on Thursday demanded respective state governments to allow truck movement 24X7 to increase the pace of export. Sugar mills have signed export deals for shipment of 40 lakh tonnes during the [...]

Golden boy Neeraj turns angel investor, joins funding round for influencer marketing startup

Mumbai, Jan 6 (PTI) Olympic gold medallist Neeraj Chopra has warmed up to venture investing, following the footsteps of many celebrity sportspersons, by betting an undisclosed sum on influencer marketing platform One Impression. A statement from the startup said Chopra invested in a "strategic round" which saw the company raise USD 1 million (about Rs [...]

FHRAI signs pact with J&K govt to promote hospitality, related infra in UT

New Delhi, Jan 6 (PTI) The Federation of Hotel & Restaurant Associations of India (FHRAI) on Thursday said it has signed a pact with the Jammu & Kashmir government to promote hospitality and related infrastructure in the Union Territory. According to FHRAI, this is the first time in history that a joint MoU has been [...]

CBI files FIR against Gujarat firm for Rs 632 crore `bank fraud’

Ahmedabad, Jan 6 (PTI) The CBI has registered a case against city-based Electrotherm (India) Ltd for allegedly cheating the Bank of India of around Rs 632 crore, officials said on Thursday. The agency also carried out searches at six locations here. The firm and its directors are accused of diverting the funds obtained through the [...]

‘Skyz’ by Danube Receives Overwhelming Response by Clocking 60 percent Sales

New Delhi, Delhi, India (NewsVoir) Danube Properties, the UAE-based affordable housing pioneer and one of the most dynamic and popular private real estate developers in the UAE, has announced that its recently launched Skyz Tower project has been 60% sold out. The affordable homes at Skyz Tower come with Danube Properties’ trend-setting 1 percent payment [...]

Punjab’s Best Kept Secret Thana-Dehrian-Kukanet Jungle Safari Inaugurated

Hoshiarpur, Punjab, India (NewsVoir) Punjab Forest Minister S. Sangat Singh Giljian inaugurated the Nature Awareness Project at Thana Village. It includes 3 Lake facing Eco Tents, boating and Jungle safari gypsies. This type of adventure based eco-tourism in the sub mountain ranges of district Hoshiarpur which borders Himachal Pradesh is one-of-its-kind. Punjab forest department has [...]

Business briefs

*ICICI Prudential launches first silver ETF fund of fund Mumbai, Jan 6 (PTI) ICICI Prudential has announced the launch of country's first silver ETF fund of fund, which is an open-ended fund, offering a good mix of all asset classes.The fund will open on January 13 and closes on January 27.The fund house said it [...]

Simpl secures asset-based facility from Franklin Templeton, Finuvo LLC and Catalina Finance

New Delhi, Jan 6 (PTI) Simpl, a pay-later platform, on Thursday said it has secured an asset-based facility from Franklin Templeton, Finuvo LLC and Catalina Finance to fund the rapid growth of its one-click pay-later offering. "The funding line will support close to USD 1 billion in annual payment volume," said the buy-now-pay-later platform in [...]

Govt approves Green Energy Corridor Phase-II with Rs 12,000-cr outlay

New Delhi, Jan 6 (PTI) The government on Thursday approved the second phase of the Green Energy Corridor with an outlay of Rs 12,031 crore to facilitate grid integration and power evacuation of about 20 GW of renewable energy projects in seven states. "The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, [...]

Health Facilities of Small Villages Upgraded to Combat COVID by a Joint Team of Army Officers, District Administration, and NGOs

Delhi, India (NewsVoir) As COVID-19 surged in the second quarter, the lack of medical facilities especially in rural areas caused major problems for the residents of villages. Amidst this unprecedented situation, Major Pradeep Shoury Arya., I.R.S., Shaurya Chakra, Additional Commissioner of Income-Tax, Bengaluru organized and coordinated a corona relief support program throughout the country in [...]

Reliance Retail picks 25.8% stake in Dunzo

New Delhi, Jan 6 (PTI) Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for USD 200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised USD 240 million (about Rs 1,787 crore) in its latest funding [...]

L&T Construction bags large contracts for water, effluent treatment business

New Delhi, Jan 6 (PTI) L&T Construction's water and effluent treatment business has secured a slew of orders from various prestigious clients. The Department of Water Supply and Sanitation, Punjab, has awarded two EPC (engineering, procurement and construction) orders for the bulk supply of treated water to 10 lakh people in the Fazilka and Ferozepur [...]

Times Real Estate Conclave & Awards 2021 brings good news galore, best performers

The Times Real Estate Conclave & Awards 2021 had a flurry of good news for developers and other constituents of the industry. The chief guest of the event Dr. Jitendra Satish Awhad, housing minister of Maharashtra, announced that the state government is likely to have an amnesty scheme where in concessions along with a guarantee [...]

Home sales in Kolkata jump 62pc in 2021: Report

Kolkata, Jan 6 (PTI) The residential market in the metropolis witnessed a 62 per cent growth Y-o-Y in 2021 with 14,405 housing units sold during the year, according to a report released on Thursday. New launches also saw a whopping rise of 81 per cent year-on-year with the addition of 7,510 units in the last [...]

CII pitches for coordinated actions by Centre, states to minimize Omicron impact

New Delhi, Jan 6 (PTI) Amid fears that the new coronavirus variant may disrupt normal business activity, industry chamber CII on Thursday pitched for coordinated actions by the Centre and state governments to minimize the impact of Omicron on the economy. "There is obviously some concern about Omicron but I think the general feedback we [...]

BULLION-MUM-CLOSE

MUMBAI, JAN 06 (PTI) CLOSING RATES SILVER SPOT (IN RS PER KILO) : 60435.00 STANDARD GOLD (99.5) : 47640.00 PURE GOLD (99.9) : 47832.00 CALCUTTA BULLION :- SILVER RDY.(BAR) : Rs.61,000.00(61,850.00) Per Kg.SILVER RDY.(PORTION) : Rs.61,100.00(61,950.00) Per Kg.GOLD (24-CARAT) RDY. : Rs.48,450.00(48,700.00) Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.45,950.00(46,200.00) Per 10 Gms.HALLMARKED GOLD(22-CARAT) RDY. : [...]

Aurobindo Pharma launches COVID-19 drug Molnupiravir in India

Hyderabad, Jan. 6 (PTI): Aurobindo Pharma Limited has launched COVID-19 treatment drug Molnupiravir under brand name "Molnaflu" in India. Molnupiravir is for treatment of adult patients with COVID-19, under certain conditions, a press release from the city-based drug maker said. Molnupiravir was earlier approved under Emergency Use Authorisation from the Central Drugs Standard Control Organisation. [...]

Volvo Car reports 27% jump in retail sales in 2021

New Delhi, Jan 6 (PTI) Luxury automaker Volvo Car India on Thursday said its retail sales increased by 27 per cent to 1,724 units last year as compared with 2020. The Swedish carmaker had sold 1,361 cars in 2020. The sales growth last year was led by the company's SUV portfolio with the company's mid-sized SUV the [...]

Sensex, Nifty snap four-day rally as hawkish Fed roils global equities

Mumbai, Jan 6 (PTI) Equity benchmarks lurched lower on Thursday after a four-session winning run, in lockstep with a sharp sell-off in world stocks after minutes of Federal Reserve's recent meeting indicated faster-than-expected rate hikes. The 30-share BSE Sensex slumped 621.31 points or 1.03 per cent to finish at 59,601.84. Similarly, the broader NSE Nifty [...]

Omicron to hit Q4 GDP by 0.40 pc, dent FY22 growth by 0.1 pc: Report

Mumbai, Jan 6 (PTI) The Omicron variant spread will impact the January-March quarter GDP by 0.40 per cent and shave off 0.10 per cent from the FY22 growth, as many states resort to restrictions to limit infections, a domestic rating agency said on Thursday.“Curbs in various forms such as reducing the capacity of market/market complexes [...]

JSW Group asks 50 pc employees to WFH in Mumbai amid Omicron spread

New Delhi, Jan 6 (PTI) JSW Group is operating with 50 per cent staff at its offices in Mumbai, a company official informed on Thursday. The move has been taken as the cases of Omicron variant of coronavirus continue to surge in Maharashtra and other parts of the country, the spokesperson said. "Our offices in [...]

IRB Infrastructure arm executes concession pact for Rs 6,555 cr project in UP

New Delhi, Jan 6 (PTI) IRB Infrastructure Developers on Thursday said its wholly-owned arm has executed a concession pact with Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for the Rs 6,555 crore 'Ganga Expressway’ project in the state. The total length of the project is 129.7 km, IRB Infrastructure said in a filing to BSE. [...]

Gold tumbles Rs 284; silver plunges Rs 1,292

New Delhi, Jan 6 (PTI) Gold price in the national capital on Thursday tumbled Rs 284 to Rs 46,700 per 10 grams in tandem with a decline in international precious metal prices, according to HDFC Securities.In the previous trade, the precious metal had settled at Rs 46,984 per 10 grams.Silver also dipped by Rs 1,292 [...]

Reliance Retail picks 25.8% stake in Dunzo

New Delhi, Jan 6 (PTI) Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for USD 200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo raised USD 240 million in its latest funding round that was led by [...]

Cabinet approves Rs 12,000 cr for 2nd phase of Green Energy Corridor

New Delhi, Jan 6 (PTI) The Cabinet on Thursday approved Rs 12,000 crore for the second phase of the Green Energy Corridor to facilitate grid integration and power evacuation of about 20 GW of renewable energy projects in seven states. The scheme targets to add approximately 10,750 circuit kilometres of transmission lines and about 27,500 [...]

‘India’s high import tariffs in electronics sector negating PLI, impacting competitiveness’

As per a report, India’s import tariffs for the electronics sector are higher compared to countries like China and Vietnam.India’s higher tariffs increase production costs due to both costlier imports and lack of adequate domestic products available to substitute the more expensive imports – adversely affecting both exports and the ability to competitively link up [...]

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