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Infra stock jumps 5% after receiving orders worth ₹ 70 Cr from two domestic clients
The shares of this fast-growing infrastructure company gained up to 5 percent after the company received two new work orders from two domestic clients worth Rs 70 crore. Hazoor Multi Projects Ltd has a market capitalization of Rs 899.30 crore, the shares were trading at Rs 481.50 per share, increasing around 3.10 percent as compared [...]
Alcohol stock jumps 30% in 2 days after mutual fund bought 2 Lakh shares in the company
The shares of this alcohol stock jumped nearly 30 percent in just two trading sessions and hit a 52-week high of Rs.1,153.8 per share after Motilal Oswal Mutual Fund bought a stake in the company. Price Variation In Monday's trading session, Globus Spirits Limited's share price reached a 52-week high of Rs.1,153.8 per share, marking [...]
3 PSU stocks jump 5% after they receive Navartna status; Do you own any?
Three PSU (Public Sector Undertaking) stocks are in focus after securing Navaratna status from the Ministry of Finance, Government of India. This prestigious upgrade enhances their operational flexibility and investment capabilities. What happened The Ministry of Finance upgraded four public-sector enterprises, SJVN, Solar Energy Corporation, NHPC, and RailTel Corporation of India, to the 'Navratna' status [...]
PSU stock jumps 3% after company’s board sets record date for 1:2 bonus issue
The shares of this navratna company jumped 3 percent after the company’s board fixed the record date as October 07, 2024, for the bonus issue in the ratio of 1:2. NBCC (India) Ltd has a market capitalization of Rs 33,867.00 crore, the shares of NBCC (India) Ltd were trading at Rs 187.95 per share, increasing [...]
IT stock hits 5% upper circuit after expansion of business to data centres, cyber security
IT stock providing Business Process Management (BPM) like Customer Acquisition services, customer services, IT Infrastructure management services, and Data Management services hit a 5 percent upper circuit in the day’s trade following expansion into Digital Marketing, Data Centres, and Cyber Security. Price Action With a market capitalization of Rs. 217 Crores, the shares of Enser [...]
Tata group stock jumps after partnership with Australian firm for production of insecticide
Shares of this Tata group company that manufactures agrochemicals rose by nearly 2 percent after completing a partnership with Australia's Bio-gene Technology Limited to produce an insecticide. Price Variation In Monday's trading session, Rallis India Limited’s share price surged 1.9 percent to an intra-day high of Rs.358.75 per share, up from the previous close of [...]
Infra stock hits 5% upper circuit after receiving order from Kalpataru Projects
Multibagger stock engaged in providing engineering, procurement, and construction (EPC) services, operation & maintenance, and many more hit a 5 percent upper circuit in the day’s trade upon receiving a new work order from Kalpataru Projects International Limited. Price Action With a market capitalization of Rs. 778 Crores, the shares of RBM Infracon Limited hit [...]
Green energy stock hits 5% upper circuit after receiving order worth ₹ 247 Cr from BPCL
The shares of this smallcap company locked a 5 percent upper circuit after receiving an order worth Rs. 247 crores from Bharat Petroleum. In one year, the stock has delivered more than a 500 percent return to its shareholders. Price Movement: With a market capitalization of Rs. 4,207 crores, the shares of Oriana Power Ltd [...]
Gas stock jumps 14% after board announces merger of GSPL, GSPC, GEL, into the company
The shares of the leading gas distribution company gained up to 14 percent after the company’s board of directors approved a scheme of arrangement and amalgamation. With a market capitalization of Rs 45,323.61 crore, the shares of Gujarat Gas Ltd were trading at Rs 659.95 per share, increasing around 9 percent as compared to the [...]
Fundamentally strong stocks with promoter holding of more than 70%
Fundamentally strong companies possess strong financials, such as a low debt-to-equity ratio, considerable profit growth, and consistent cash flow. Such companies are more likely to endure and emerge stronger from market downturns. In the Indian stock market, mid-cap companies are defined as those with a market capitalization between Rs27,600 crore and Rs84,300 crore. Listed below [...]
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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
Hughes, Airtel form JV to offer satellite broadband services in India
New Delhi, Jan 5 (PTI) Hughes Communications India (HCIPL), a majority-owned subsidiary of Hughes Network Systems, and Bharti Airtel on Wednesday announced a joint venture to offer satellite broadband services in India. Operational as HCIPL, the entity combines the Very Small Aperture Terminal (VSAT) businesses of both companies to offer flexible and scalable enterprise networking [...]
Gujarat govt cuts VAT on jet fuel by 20%
The Gujarat government on Tuesday announced a 20 per cent reduction in value-added tax (VAT) on aviation turbine fuel (ATF) to bring the levy at 5 per cent in a move to boost tourism in the state. This was the second cut in VAT on ATF in less than a month. The decision to reduce [...]
Thermax shares jump nearly 7% after bagging Rs 545-cr order
New Delhi, Jan 5 (PTI) Shares of Thermax on Wednesday jumped nearly 7 per cent after the company bagged an order of Rs 545.6 crore for two flue-gas desulphurisation (FGD) systems. The stock gained 6.55 per cent to Rs 1,923.55 on BSE. At NSE, it jumped 6.38 per cent to Rs 1,920. Thermax Ltd has [...]
Software at the Core of Purpose – Robert Bosch Engineering and Business Solutions Renamed as Bosch Global Software Technologies
Bengaluru, Karnataka, India – Business Wire India • RBEI now Bosch Global Software Technologies (BGSW) to hire 5500+ engineers with a focus on niche skills like AI, ML, Cyber Security, Blockchain and other new-age technology skills in the areas of Automotive, IT and Digital. • The company will invest substantially to create platforms for innovation [...]
More Than 242 Career Centres Across Rural India Planned by CIEL HR Services and MikroGrafeio Services
Chennai, Tamil Nadu, India – Business Wire India Chairman of Ma Foi Group, K. Pandiarajan announces the launch of Job-Ready Talent Solutions for Corporates in collaboration with MikroGrafeio Services, a Global Workspace & Workforce Solution Provider. CIEL HR Services is set to launch 242+ MCC (Ma Foi Career Centres) by May 2023 at MikroGrafeio’s range [...]
Retail Tech Startup ‘The New Shop’ Signs a Landmark Partnership With the Adani Airports for Upcoming Airports
NEW DELHI, Jan. 5, 2022 /PRNewswire/ -- The New Shop, India's smartest 24-hour convenience store chain, has successfully opened its 41st store at Lucknow's Chaudhary Charan Singh International Airport. This transit retail store is also the brand's first airport flagship store, which was inaugurated by Mr. Suresh Chandra Hota IAP, Chief Airport Officer, Adani Lucknow [...]
Rupee gains 10 paise to 74.48 against US dollar in early trade
Mumbai, Jan 5 (PTI) The rupee appreciated by 10 paise to 74.48 against the US dollar in opening trade on Wednesday, tracking gains in domestic equity markets.At the interbank foreign exchange, the rupee opened strong at 74.54 against the American dollar, then inched higher to 74.48, registering a rise of 10 paise from the last [...]
Macrotech Developers sells properties worth Rs 1,900 cr in two projects in London
New Delhi, Jan 5 (PTI) Realty firm Macrotech Developers on Wednesday said it has achieved sales bookings of around Rs 1,900 crore during the quarter ended December in its two projects in London.Mumbai-based Macrotech Developers Ltd (MDL), which is one of the leading real estate firms in India, markets its properties under the Lodha brand. [...]
Sensex falls nearly 150 pts in early trade; Nifty slips below 17,780
Mumbai, Jan 5 (PTI) Equity benchmark Sensex declined nearly 150 points in opening trade on Wednesday, tracking weakness in index-heavyweights Reliance Industries, TCS and Infosys amid a mixed trend in global markets. After opening on a positive note, key stock indices turned negative in early deals. The 30-share index was trading 147.95 points or 0.25 [...]
China Matters explores Hangzhou’s Cultural Blending of Past and Present
BEIJING, Jan. 4, 2022 /PRNewswire/ -- "It is without doubt the finest and most splendid city in the world," wrote Marco Polo as he visited Hangzhou, a coastal city in eastern China, over 600 years ago. Not only was Marco Polo taken with the stunning natural scenery, but Hangzhou reminded him of Venice. He even [...]
On the occasion of Mamata Banerjee’s birthday HarperCollins announces the forthcoming release of Mamata: Beyond 2021 by Jayanta Ghosal (translated by Arunava Sinha) Publishing on 24 January 2022
NEW DELHI, Jan. 4, 2022 /PRNewswire/ -- In the West Bengal election of 2021, the longest state election in the history of India, Mamata Banerjee won the khela, and the BJP lost the plot. How did this happen? The author, Jayanta Ghosal, travelled to all the districts of West Bengal and unearthed certain key factors [...]
Next Pathway Accelerates International Growth With the Opening of a New Office in Pune, India
TORONTO, Jan. 4, 2022 /PRNewswire/ -- Next Pathway Inc, the leading provider of automated cloud migration services, is pleased to announce the opening of its new office in Pune, India, to support the company's growth strategy. The new office will add to Next Pathway's capacity to develop and innovate the SHIFT™ Migration Suite, while serving [...]
X0PA AI RAISES $4.2 MILLION IN SERIES A FUNDING TO SCALE AI-POWERED OBJECTIVE B2B HIRING & SELECTIONS SOLUTION
The world's most objective hiring and selections platform plans to expand globally and innovate further with cutting-edge AI. SINGAPORE, Jan. 4, 2022 /PRNewswire/ -- X0PA AI, a leader in AI-powered objective hiring solutions, today announced $4.2 million USD in Series A funding. The investment was led by ICCP SBI Venture Partners (ISVP), with additional funding [...]
Business schedule for Wednesday, Jan 5
DELHI: * ICRA webinar on Auto and Power Sector (1230 hrs) * Webinar on India's Real Estate sector (1100 hrs) MUMBAI: * Kotak Life presser (1400 hrs) * Commerce Minister Piyush Goyal, SEBI Chairman Ajay Tyagi and NSE MD and CEO Vikram Limaye at Nifty Silver Jubilee function (1700 hrs). PTI DRR DRR DRR
S Africa graft probe report confirms Zuma’s influence in millions wasted in Guptas-owned now-defunct newspaper
Johannesburg, Jan 5 (PTI) The first report of the much-awaited South African Commission of Inquiry into State Capture has confirmed the influence that former president Jacob Zuma had in supporting the now-defunct newspaper The New Age (TNA) which was started by the Gupta brothers who fled the country after looting billions from state enterprises. TNA [...]
JSCL floats tender for e-autos for Jammu smart city
Jammu, Jan 4 (PTI) The Jammu Smart City Ltd (JSCL) has invited tenders for procurement of e-autos as part of smart city projects and is also in the process of floating the tender for e-buses, officials said here.The e-autos are meant for running on new routes identified by the road transport agency and also as [...]
TCL Electronics clocks revenue of nearly USD 30 bn in first 3 quarters of 2021
New Delhi, Jan 4 (PTI) Leading consumer electronics brand TCL Electronics has logged revenue of nearly USD 30 billion in the first three quarters of 2021, a growth of about 81 per cent, its Chairman DU Juan said. The China-based company, which is participating in CES, the annual consumer electronic show held at Las Vegas, [...]
Starlink India head Sanjay Bhargava resigns
New Delhi, Jan 4 (PTI) Starlink India Country Director Sanjay Bhargava has resigned from his position, according to his LinkedIn post. The move comes just weeks after government stated that Starlink Internet Services is not licensed to offer satellite-based internet services in India, and had advised the public not to subscribe to the services that [...]
Father-son duo held by CGST dept for fake ITC of Rs 22 cr
Mumbai, Jan 4 (PTI) A father-son duo has been arrested by the Central Goods and Services Tax department in connection with what is being called as a Rs 22-crore fake input tax credit (ITC) racket. The duo are proprietors of M/s Shah Enterprises and M/s U S Enterprises, which are engaged in trading ferrous waste [...]
Ship with COVID-19 patients on board reaches Mumbai from Goa
Mumbai/Panaji, Jan 4 (PTI) Around 30 coronavirus patients have disembarked from the Cordelia cruise ship after it arrived in Mumbai on Tuesday evening from Goa, while testing was going on for other passengers on the vessel, civic officials said.The cruise liner anchored at a passenger terminal in Ballard Pier in South Mumbai at around 6.30 [...]
Power minister dedicates Automatic Generation Control to nation
New Delhi, Jan 4 (PTI) Union Power Minister R K Singh has dedicated to the nation the Automatic Generation Control (AGC) project which would help in maintaining the frequency and reliability of the electricity system. This is also expected to facilitate achieving the government's ambitious target of 500 GW non-fossil fuel-based generation capacity by 2030, [...]
DRM office Agra receives about Rs 2 crore in drive against ticketless train travel in Dec
Mathura, Jan 4 (PTI) The commercial division of DRM office Agra has received about Rs 2 crore record earnings in December during its drive against ticketless train travel and unbooked extra luggage, officials said. "In the drive, Rs 1.93 crore was received in December from ticketless travellers and unbooked extra baggage carried out by the passengers," [...]
India’s exports touch USD 300 bn in Apr-Dec: Goyal
New Delhi, Jan 4 (PTI) India's exports touched USD 300 billion during April-December 2021 and would reach USD 400 billion by end of this fiscal, Commerce and Industry Minister Piyush Goyal said on Tuesday. "When we aspired for USD 400 billion exports, people would laugh at us. But now here we are at USD 300 [...]
Ninjacart announces Rs 100-cr ESOP buyback program
New Delhi, Jan 4 (PTI) Ninjacart, an agri-platform which leverages technology to organise the agriculture ecosystem, on Tuesday announced an employee stock ownership plan (ESOP) buyback worth Rs 100 crore. Both current and former employees with vested ESOPs as of December 2021 are eligible to participate in the programme, with the option to sell the [...]
Bandhan Bank advances jump 11 pc to Rs 89,213 cr in Dec quarter
New Delhi, Jan 4 (PTI) Bandhan Bank on Tuesday said its loans and advances grew 11 per cent to about Rs 89,213 crore as of December 31, 2021. The loans and advances stood at Rs 80,255 crore in the year-ago period. Its loans and advances by the end of December 2021 were before considering write-offs, [...]
Coal India CMD gets additional charge of finance portfolio
Kolkata, Dec 4 (PTI) Coal India CMD Pramod Agrawal has been given additional charge of director (finance), the company informed the bourses.The ministry of coal has entrusted the additional charge of director (finance) to Pramod Agrawal for six months from December 29, 2021 or till the appointment of a regular incumbent.Bharat Coking Coal Ltd (BCCL) [...]
Thermax bags Rs 545-cr order for 2 flue-gas desulphurisation systems
New Delhi, Jan 4 (PTI) Thermax has bagged an order of Rs 545.6 crore for two flue-gas desulphurisation (FGD) systems. Thermax Ltd has concluded an order of Rs 545.6 crore from an Indian power public sector company to set up FGD systems for its two units of 500 megawatts (MW) capacity each in Uttar Pradesh, [...]
Airtel Payments Bank gets scheduled bank status from RBI
New Delhi, Jan 4 (PTI) Airtel Payments Bank on Tuesday said it has been categorised as a scheduled bank by the Reserve Bank of India (RBI). With this, Airtel Payments Bank can now pitch for government-issued Requests for Proposals (RFPs) and primary auctions and undertake both central and state government business, besides participating in government-operated [...]
Bandhan Bank collection efficiency ratio increases to 93 pc in Dec
Kolkata, Jan 4 (PTI) Collection efficiency ratio of MFI-turned-private lender Bandhan Bank increased to 93 per cent in December 2021 from 90 per cent in September that year, a company official said on Tuesday.There has been substantial growth in loans and deposits during the period, it said.Loans and advances grew 11 per cent y-o-y to [...]
Airtel withdraws scheme for new corporate structure announced in April 2021
New Delhi, Jan 4 (PTI) Bharti Airtel on Tuesday said the scheme for a new corporate structure it had announced on April 14, 2021 has been "withdrawn" as the board is of the view that its existing structure is optimal for tapping emerging opportunities and unlocking value while scaling up digital businesses. The "seminal" telecom [...]
Country needs GDP growth of above 8% to become USD 5-tn economy: SBI ex-head Rajnish Kumar
Mumbai, Jan 4 (PTI) The country needs to accelerate economic growth to above eight per cent to achieve its target of becoming a USD 5-trillion economy by 2025, State Bank of India former chairman Rajnish Kumar said. "If India wants to become a USD 5-trillion economy then obviously we can't be happy with a 5-6 [...]
RBI cancels authorisation certificates of two payment system operators
Mumbai, Jan 4 (PTI) Reserve Bank of India (RBI) has cancelled the authorisation certificates of Muthoot Vehicle and Asset Finance Ltd and Eko India Financial Services Private Ltd for non-compliance with regulatory requirements.Both the Payment System Operators (PSOs) had authorisation for issuance and operation of prepaid payment instruments."Following the cancellation of the Certificate of Authorisation [...]
FMCG distributors call off stir against HUL in Maharashtra; to continue action against Colgate
New Delhi, Jan 4 (PTI) FMCG distributors on Tuesday suspended their boycott of certain brands of HUL in Maharashtra after talks with the company over issues of price disparity between the traditional distributors and organised business-to-business channel. However, the distributors would continue to boycott certain products of Colgate as the oral care company has not [...]
Gadkari says not very happy with steel, cement companies’ approach in road construction
New Delhi, Jan 4 (PTI) Union Minister Nitin Gadkari on Tuesday said one of his missions is to reduce the usage of steel and cement in road construction as these companies indulge in cartelisation. Road Transport and Highways Minister Gadkari said that he is not very happy with the approach of steel and cement companies [...]
Centre, states unitedly pursuing target of doubling farmers’ income by 2022: Tomar
New Delhi, Jan 4 (PTI) The Centre and state governments are unitedly pursuing the target of doubling farmers' income by 2022, Agriculture Minister Narendra Singh Tomar said on Tuesday. In 2016, the Prime Minister Narendra Modi-led government had set a highly ambitious target of doubling farmers incomes by 2022. An inter-ministerial committee on 'Doubling of [...]
GAIL buys IL&FS’s 26 pc stake in OTPC for Rs 1,227 cr
New Delhi, Jan 4 (PTI) State-owned gas utility GAIL (India) has completed the acquisition of bankrupt Infrastructure Leasing and Financial Services' 26 per cent stake in ONGC Tripura Power Company (OTPC) for Rs 1,227 crore, the two firms said on Tuesday. OTPC is a special purpose vehicle set up by Oil and Natural Gas Corporation [...]
RBI appoints 2 executive directors
Mumbai, Jan 4 (PTI) Deepak Kumar and Ajay Kumar Choudhary have been promoted as executive directors of the Reserve Bank of India (RBI), the central bank said on Tuesday. Prior to being promoted as ED, Kumar was heading the Department of Information Technology of the RBI, while Choudhary was Chief General Manager-in-Charge, Department of Supervision. [...]
SIMA urges Centre to remove import duty on cotton
Coimbatore, Jan 4 (PTI) Claiming that cotton import duty is eroding global competitiveness, Southern India Mills Association (SIMA) Tuesday urged Prime Minister to remove the 11 per cent import duty on cotton and cotton waste and also cotton from MCX and NCDEX features as recently done for certain agricultural products to avoid further speculation. Though [...]
Sri Lanka, India to jointly develop strategic Trincomalee Oil Tank Complex
Colombo, Jan 4 (PTI) Sri Lanka has agreed to implement a joint project with India to redevelop the strategic World War II-era oil tank farm in the eastern port district of Trincomalee, the island nation's government announced here on Tuesday.The Lankan government said that after reviewing the three existing agreements with the Indian government regarding [...]
CITI pitches for removal of import duty on cotton to avert crisis for domestic industry
New Delhi, Jan 4 (PTI) Confederation of Indian Textile Industry(CITI) on Tuesday appealed to Prime Minister Narendra Modi for removal of import duty on cotton to safeguard the domestic industry, observing that cotton prices in India have surpassed the international ones. The confederation stated that skyrocketing cotton price has stalled the potential growth of the textile value [...]
Business highlights
New Delhi, Jan 4 (PTI) Following are the top business stories at 2000 hours: DEL42 BIZ-LD STOCKS Sensex extends gains for 3rd day amid global rally; RIL, power stocks shine Mumbai: Equity benchmarks defied gravity for the third session on the trot on Tuesday, in tandem with a rally in global markets as investors shrugged [...]
SBI to make instant money transfers up to Rs 5 lakh via digital means free from next month
New Delhi, Jan 4 (PTI) SBI customers adopting digital transactions for instant money transfers will not be levied any charges for an amount up to Rs 5 lakh from next month, the lender said on Tuesday. As of now, transactions up to Rs 2 lakh attract zero charges under IMPS (immediate payment service) or instant [...]
FMCG distributors call off stir against HUL in Maharashtra; to continue action against Colgate
New Delhi, Jan 4 (PTI) FMCG distributors on Tuesday suspended their boycott of certain brands of HUL in Maharashtra after talks with the company over issues of price disparity between the traditional distributors and organised business-to-business channel. However, the distributors would continue to boycott certain products of Colgate as the oral care company has not [...]
Tata Medical and Diagnostics develops kit to detect Omicron variant in RT-PCR tests
Mumbai, Jan 4 (PTI) The Tata Medical and Diagnostics has developed a kit 'OmiSure' that can detect the Omicron variant of SARS-CoV2 in nasopharyngeal/oropharyngeal specimens during the RT-PCR tests, a senior company executive said on Tuesday. The test kit is compatible with all standard Real-Time PCR Machines. The first target is based on S-gene dropout [...]
Malabar Gold to invest Rs 1,200 cr to open 33 showrooms by Mar; eyes Rs 75K-cr revenue by FY25
Mumbai, Jan 4 (PTI) Leading jewellery retailer Malabar Gold & Diamonds, which has set a target of becoming the world's largest retailer with a 2.5 times growth in revenue to over Rs 75,000 crore by FY25, is on an aggressive expansion spree, opening 33 showrooms in the next three months involving an investment of Rs [...]
Gurgaon: Liquor shop owners protest against restrictions
Gurgaon (Hr), Jan 4 (PTI) Liquor shop owners and workers in Gurgaon on Tuesday protested against the COVID-19 restrictions that were affecting their business and demanded that they should be allowed to open vends till 11 PM.A senior official of the Excise and Taxation Department said liquor vends have been ordered to close by 5 [...]
Airtel withdraws scheme for new corporate structure announced in April 2021
New Delhi, Jan 4 (PTI) Withdrawing its scheme for a new corporate structure announced in April 2021, Bharti Airtel on Tuesday said it will merge wholly-owned subsidiary Telesonic Networks with itself, resulting in consolidation of fibre assets into the company, while Nettle Infrastructure Investments too will be merged with Airtel. The scheme of arrangement for [...]
Carzso.com launches VR-based experience store in Karnal; first such facility in India
Mumbai, Jan 4 (PTI) Virtual pre-owned cars showroom Carzso.com on Tuesday said it has launched its exclusive virtual reality (VR)-based experience store in Karnal, which is the first-of-its-kind facility in the country. The auto tech start-up is building the country's first superstore of pre-owned cars in Gurgaon, for which parking of over 300 cars has [...]
Retail Direct Scheme: RBI notifies market making scheme to promote retail participation in G-Secs
Mumbai, Jan 4 (PTI) The Reserve Bank of India (RBI) on Tuesday notified the market making scheme to promote retail participation in government securities by providing prices/quotes to retail direct gilt (RDG) account holders enabling them to buy and sell securities under the RBI Retail Direct Scheme. Prime Minister Narendra Modi had launched the RBI [...]
Solar open access installation rises nearly two folds to 307 MW in July-Sept: Report
New Delhi, Jan 4 (PTI) Solar open access installations in India jumped 85 per cent to 307 megawatt (MW) in July-September period of 2021, Mercom India Research said in a report. The installations stood at 166 MW during the same quarter in 2020, the research firm said in [...]
iD Fresh Food raises Rs 507 cr in Series D round of funding
New Delhi, Jan 4 (PTI) Fresh food startup iD Fresh Food on Tuesday said it has raised Rs 507 crore in Series D round of funding led by Asia's leading secondary private equity firm NewQuest Capital Partner along with existing investor Premji Invest. Its early investor Helion Ventures exited with a 10X return after a [...]
Tata CLiQ Luxury partners with online grocery platform BigBasket to launch luxury gourmet store
New Delhi, Jan 4 (PTI) Tata CLiQ Luxury, a Tata-owned premier luxury lifestyle platform, has partnered with the group-backed online grocery platform BigBasket, to launch a luxury gourmet store. The new luxury gourmet store is on the Tata CLiQ Luxury platform, according to a joint statement from both e-tailers. "Through this unique collaboration, Tata CLiQ [...]
Business briefs
IMTMA, FE Dream collaborate for women-focused upskilling programme Mumbai, Jan 4 (PTI) Indian Machine Tools Manufacturers' Association (IMTMA) on Tuesday said it has collaborated with a non-profit organisation FE Dream to upskill women engineers and make them industry-ready professionals.The no-cost eight-week training programme is scheduled to be conducted from February 7 - March 31 at [...]
Denmark Awarded with Mother Teresa Memorial Award for Social Justice 2021 for Environment Sustainability
Prominent Awardees Padma Bhushan Dr. Anil Prakash Joshi, Padma Shri Ms. Tulsi Gowda, Earth Shot Winner Vidyut Mohan also received the prestigious award amongst others Mumbai, Maharashtra, India (NewsVoir) Harmony Foundation hosted the Mother Teresa Memorial Awards for Social Justice which premiered on December 30th, 2021. Each year, the Harmony Foundation identifies a theme for [...]
SBI, ICICI Bank, HDFC Bank continue to remain systemically important banks: RBI
Mumbai, Jan 4 (PTI) The RBI on Tuesday said state-owned SBI, along with private sector lenders ICICI Bank and HDFC Bank continue to be Domestic Systemically Important Banks (D-SIBs) or institutions which are 'too big to fail'. SIBs are perceived as banks that are 'too big to fail (TBTF)'. This perception of TBTF creates an [...]
APSEZ cargo handling jumps 35 pc to 234.3 MT during Apr-Dec
New Delhi, Jan 4 (PTI) Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday said it handled a cargo volume of 234.31 million tonnes (MT) during the April-December 2021 period, registering a growth of 35 per cent y-o-y. Its ports, excluding Mundra, grew 74 per cent and contributed 52 per cent of the total [...]
Sri Lanka to procure 750 jeeps, 500 buses from India: Government
Colombo, Jan 4 (PTI) Sri Lanka has decided to procure a fleet of 750 jeeps and 500 buses from India under the credit line it received from New Delhi, the island nation's government announced here on Tuesday.The decision to purchase the 750 jeeps from Indian auto manufacturer Mahindra and Mahindra was taken during a Cabinet [...]
Female Founders Month, ‘SheRoars: Say it Loud’ is Launched by Marwari Catalysts to Celebrate the Entrepreneurial Spirit of Women
Jodhpur, Rajasthan, India (NewsVoir) Throughout January, Marwari Catalysts is celebrating Female Founders Month with their women co-founders who are leading 40% of their portfolio startups under the theme, '#SheRoars: Say it Loud’. The celebration is designed to recognize female founder’s unique achievements and to extol the power of the new role that a woman plays [...]
Investors’ wealth zooms Rs 5.36 lakh cr in first two days of trading in 2022
New Delhi, Jan 4 (PTI) Equity investors are a happy lot as their wealth jumped by over Rs 5.36 lakh crore in the first two days of trading in the New Year, driven by optimism in the broader market amid firm global cues. The 30-share Sensex zoomed 672.71 points or 1.14 per cent to settle [...]
Global road safety body urges govt not to convert AIIMS centre into COVID-19 facility
New Delhi, Jan 4 (PTI) The International Road Federation (IRF) on Tuesday said Jai Prakash Narayan Apex Trauma Centre (JPNAT), which is part of the All India Institute of Medical Sciences (AIIMS) in Delhi, should not be reconverted into the COVID-19 centre in the wake of the threat posed by the Omicron variant of coronavirus. [...]
Comm min to launch Brand India Campaign to boost exports
New Delhi, Jan 4 (PTI) With the country's outbound shipments all set to cross USD 400 billion this fiscal year, the commerce ministry is planning to launch Brand India Campaign to give momentum to exports of both services and products in new markets, an official said. This campaign would serve as an "umbrella campaign" for [...]
Rupee slumps 30 paise to 74.58 against US dollar
Mumbai, Jan 4 (PTI) Snapping its three-session rising streak, the rupee tumbled 30 paise to close at 74.58 against the US dollar on Tuesday amid elevated crude oil prices and a strong greenback overseas. Forex traders said growing concerns over the Omicron variant of the coronavirus and its impact on economic recovery weighed on the [...]
Tork Motors set to launch ‘made-in-India’ e-bike KRATOS by this month-end
Mumbai, Jan 4 (PTI) Electric motorcycle maker Tork Motors is set to launch its much-awaited 'made-in-India' e-bike T6X, now renamed as KRATOS, by this month-end, which will be the first vertically integrated electric vehicle (EV) in the country, according to a statement. The company also said it is expected to commence deliveries of the bike within [...]
Malabar Gold and Diamonds Makes a Magnificent Beginning in the New Year, to open 22 Showrooms in January 2022
Kozhikode, Kerala, India (NewsVoir) • To open 10 Showrooms in India, 12 in abroad in January 2022 • To invest Rs. 800 crores in January 2022 • To generate more than 5000 employments this year As part of its global expansion plans for 2022, Malabar Gold and Diamonds will open 22 new showrooms in India [...]
Fable Forays into Global Markets; Expects to Achieve a Four-fold Growth in Processing Flows by 2024
Mumbai, Maharashtra, India (NewsVoir) Fable Fintech today announces its decision of global expansion with an illustrative snapshot of its success in various geographical locations. The payments technology provider has scaled incremental peaks in India and Asia over the last five years, and today serves more than 150 payments corridors with cross-border transactions using multiple payment [...]
BULLION-MUM-CLOSE
MUMBAI, JAN 04 (PTI) CLOSING RATES SILVER SPOT (IN RS PER KILO) : 61496.00 STANDARD GOLD (99.5) : 47775.00 PURE GOLD (99.9) : 47967.00 CALCUTTA BULLION :- SILVER RDY.(BAR) : 61,750.00 RS. PER KG.SILVER RDY.(PORTION) : 61,850.00 RS. PER KG.GOLD (24 CARAT) RDY. : 48,500.00 RS. PER 10 GMS.GOLD (22 CARAT) RDY. : 46,000.00 RS. [...]
IJMA seeks PM’s intervention in relaxing price cap of raw jute
Kolkata, Jan 4 (PTI) Indian Jute Mills Association (IJMA) has sought the intervention of Prime Minister Narendra Modi in relaxing the price cap of raw jute so that it is at par with the market price. The key contentious issue before the jute industry is the price cap of Rs 6,500 per quintal imposed on [...]
Indian pharma industry estimated to grow 9-11 % in 2021-22: ICRA
New Delhi, Jan 4 (PTI) The Indian pharma industry is estimated to grow at 9-11 per cent in 2021-22 and in the next few quarters, it will be driven by domestic and emerging markets, according to ratings agency ICRA. In a sample of 21 Indian pharmaceutical companies, ICRA said revenue growth was moderate at 6.4 [...]
Audi to launch new version of SUV Q7 in February
New Delhi, Jan 4 (PTI) German luxury carmaker Audi will launch the new version of SUV Q7 in India early next month as it looks to build on the momentum of a good performance last year, according to a senior company official.Audi India had posted a two-fold jump in retail sales at 3,293 units in [...]
Dr Reddy’s to launch Molflu at Rs 35 per capsule for COVID treatment
New Delhi, Jan 4 (PTI) Dr Reddy's Laboratories on Tuesday said it will launch Molflu (Molnupiravir) at Rs 35 per capsule to treat COVID-19 in the country. Molflu will be priced at Rs 35 per capsule, a spokesperson of the Hyderabad-based drug maker said in a statement. With 10 capsules per strip, the total course [...]
Sensex extends gains for 3rd day amid global rally; RIL, power stocks shine
Mumbai, Jan 4 (PTI) Equity benchmarks defied gravity for the third session on the trot on Tuesday, in tandem with a rally in global markets as investors shrugged off soaring Omicron cases in multiple countries. Strong domestic trade data further added to the buying momentum despite a depreciating rupee, traders said. The 30-share BSE Sensex [...]
Alka Mittal is interim ONGC head; 1st woman to head it
New Delhi, Jan 4 (PTI) Alka Mittal has been appointed an interim chairman and managing director of Oil and Natural Gas Corporation (ONGC), the first woman to head the country's largest oil and gas producer. Mittal replaces Subhash Kumar, another interim head who retired after reaching superannuation age on December 31. "The Appointments Committee of [...]
EKI Energy Services’ hits USD one billion valuation
New Delhi, Jan 4 (PTI) Climate change advisory company EKI Energy Services on Tuesday said it has become India's first BSE SME listed company to achieve USD one billion valuation. It has achieved this milestone within nine months of its debut on the BSE on April 7, 2021 with a market capitalization of Rs 96.23 [...]
Carzso.com re-launches VR-based experience store in Karnal; first such facility in India
Mumbai, Jan 4 (PTI) Virtual pre-owned cars showroom Carzso.com on Tuesday said it has re-launched its exclusive virtual reality (VR)-based experience store in Karnal, which is the first-of-its-kind facility in the country. The auto tech start-up is building the country's first superstore of pre-owned cars in Gurgaon, for which parking of over 300 cars has [...]
Enterprise application development company with 200% year on year growth is hiring 50+ engineers in Eastern India
KOLKATA, India, Jan. 4, 2022 /PRNewswire/ -- The US-based enterprise application development company Utah Tech Labs has announced about 50+ open positions for the first 2 quarters of 2022. The company is headquartered in the United States with a presence in Germany, the UK, Canada, Lithuania, and India. About the company "We help automate businesses" [...]
Wabtec Acquires MASU’s Railway Friction Business
HOSUR, India, Jan. 4, 2022 /PRNewswire/ -- Wabtec Corporation (NYSE: WAB) today announced it recently acquired the railway friction business from MASU, a leading manufacturer of friction products across the automotive and rail industry. The acquisition, which has received necessary regulatory approvals and is subject to customary closing conditions, will expand Wabtec's installed base and [...]
Geniemode raises USD 7 million from Info Edge Ventures
New Delhi, Jan 4 (PTI) The global B2B cross-border e-commerce company Geniemode has raised USD 7 million (about Rs 52 crore) led by Info Edge Ventures.This fresh funding comes within four months of its USD 2.25 million seed round.The new infusion of capital will be utilised to scale the company's tech platform, expand geographically, increase [...]
Servotech begins manufacturing of EV chargers
New Delhi, Jan 4 (PTI) Servotech Power Systems on Tuesday said it has started the manufacturing of high-tech EV chargers to mark its entry into the electric vehicle (EV) space. "Servotech Power Systems Ltd, a leading entity engaged in the manufacturing of high-end solar products, medical devices and LED lighting solutions, initiates the manufacturing of [...]
Lower coal allocation, non-availability of railway rakes impacting paper mills: IPMA
New Delhi, Jan 4 (PTI) Operations of Indian paper mills are getting severely impacted by lower coal allocation and non-availability of adequate railway rakes for transportation of coal to the mills, an industry body said on Tuesday. Indian Paper Manufacturers Association (IPMA) said that for the last several months, Coal India and its subsidiaries have [...]
Credai-NCR to provide free vaccination to over 5,000 construction workers and families by Mar 15
New Delhi, Jan 4 (PTI) Realtors body CREDAI-NCR on Tuesday said it is targeting to provide free vaccination to more than 5,000 construction workers and their families by March 15 as part of its effort towards controlling the COVID-19 pandemic. CREDAI-NCR, in association with HT Parekh Foundation and HDFC Capital, has launched a free vaccination drive [...]
Sensex zooms 673 pts, Nifty above 17,800
Mumbai, Jan 4 (PTI) The BSE Sensex surged by 673 points and the Nifty breached the 17,800-level on Tuesday on account of hectic buying across sectors. Continuing its winning momentum for the third straight session, the 30-share BSE benchmark opened with significant gains and saw further consolidation as the trade progressed. It finally closed at [...]
L&T Construction bags significant order from DMRC
New Delhi, Jan 4 (PTI) L&T on Tuesday said its construction business has bagged a significant order from Delhi Metro Rail Corporation Ltd for the design and construction of the underground metro project Phase-1 of Patna Mass Rapid Transit System. The order has been awarded to heavy civil infrastructure business of L&T Construction, it said [...]
Rupee falls 29 paise to close at 74.57 against US dollar
Mumbai, Jan 4 (PTI) The rupee on Tuesday slumped 29 paise to close at 74.57 (provisional) against the US dollar, tracking the strength of the American currency in the overseas market. Forex traders said growing concerns over the Omicron variant of coronavirus and its impact on economic recovery as well as firm crude oil prices [...]
Bank of Maharashtra’s gross advances rise to Rs 1.29 lakh cr at end of Dec 2021
New Delhi, Jan 4 (PTI) Bank of Maharashtra on Tuesday said it has registered over 23 per cent growth in gross advances to Rs 1,29,052 crore at the end of December 2021. The bank's gross advances stood at Rs 1,04,904 crore at the end of December 31, 2020. According to a regulatory filing, deposits grew [...]
Gold plunges Rs 302; silver declines by Rs 597
New Delhi, Jan 4 (PTI) Gold price in the national capital on Tuesday plunged by Rs 302 to Rs 46,814 per 10 grams, reflecting an overnight decline in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 47,116 per 10 grams. Silver also declined by Rs [...]
COMMODITY PRICES
MUMBAI, JAN 4, 2022 (PTI) METAL PRICES:- COPPER COPPER CABLE SCRAP 729.00 COPPER HEAVY SCARP 718.00 COPPER ARMATURE (CREDIT) 697.00 COPPER UTENSIL SCRAP 635.00 C.C. ROD 770.00 BRASS BASS SHEET CUTTING 539.00 BRASS UTENSIL SCRAP 480.00 BRASS HONEY 475.00 ALUNINIUM ALU. UTENSIL SCRAP 185.00 ALU. EXT SCRAP 208.00 ALU. INGOTS. 234.00 OTHER GUN METAL SCRAP [...]
KOLKATA BULLION CLOSING
Kolkata,Jan.04(PTI): SILVER RDY.(BAR) : Rs.61,750.00(62,250.00) Per Kg.SILVER RDY.(PORTION) : Rs.61,850.00(62,350.00) Per Kg.GOLD (24-CARAT) RDY. : Rs.48,500.00(48,850.00) Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.46,000.00(46,350.00) Per 10 Gms.HALLMARKED GOLD(22-CARAT) RDY. : Rs.46,700.00(47,050.00) Per 10 Gms. ---- PTI SAM
Alka Mittal is interim ONGC head; 1st woman to head it
New Delhi, Jan 4 (PTI) Alka Mittal has been appointed an interim chairman and managing director of Oil and Natural Gas Corporation (ONGC), the first woman to head the country's largest oil and gas producer. Mittal replaces Subhash Kumar, another interim head who retired after reaching superannuation age on December 31. "The Appointments Committee of [...]
NEWSALERT
Sensex zooms 672.71 pts to close at 59,855.93; Nifty surges 179.55 pts to 17,805.25. PTI MKJ ABM ABM
‘Kotsberg Pils’ beer of J&K wins silver medal at Brussels Beer Bhallenge
Jammu, Jan 4 (PTI) Kotsberg Pils, the light lager beer manufactured by Devans in Jammu and Kashmir's Samba district, has been awarded the coveted silver medal in the lager beer category at the Brussels Beer Challenge, a spokesperson of the company said. The Brussels Beer Challenge in Belgium, now in its tenth edition, is one [...]
CASHe raises Rs 140 cr in equity funding from TSLC Pte
Mumbai, Jan 4 (PTI) Digital lending platform CASHe on Tuesday said it has raised Rs 140 crore of equity funding from its Singapore-based holding company TSLC Pte Ltd.With this fresh capital, the company will continue to boost its profitability, enhance its existing product lines such as personal loans, BNPL (Buy Now Pay Later), credit line [...]
Zinc futures edge higher on robust demand
New Delhi, Jan 4 (PTI) Zinc prices on Tuesday rose Rs 2.30 to Rs 288.75 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 2.30, or 0.8 per cent, to Rs 288.75 per kg with a business turnover [...]
Crude oil futures gain on higher demand
New Delhi, Jan 4 (PTI) Crude oil prices on Tuesday rose Rs 20 to Rs 5,697 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 20, or 0.35 per cent, to Rs 5,697 per barrel in 8,108 [...]
Icra maintains ‘stable’ outlook for Indian road logistic sector
New Delhi, Jan 4 (PTI) Domestic rating agency Icra on Tuesday said the Indian road logistic sector is likely to witness healthy growth in FY2022 on the back of demand recovery and improved business activities. The optimism stems from the favourable scenario wherein most players reported strong growth in freight volumes on a sequential basis [...]
Copper futures decline on tepid spot demand
New Delhi, Jan 4 (PTI) Copper prices on Tuesday fell 0.11 per cent to Rs 744.05 per kg in the futures trade, as participants trimmed their bets amid a weak trend in the domestic market. On the Multi Commodity Exchange, copper for delivery in January was trading lower by 80 paise, or 0.11 per cent, [...]
Nickel futures gain on firm spot demand
New Delhi, Jan 4 (PTI) Nickel prices on Tuesday increased 0.22 per cent to Rs 1,574.10 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 3.50, or 0.22 per [...]
Aluminium futures rise marginally on positive cues
New Delhi, Jan 4 (PTI) Aluminium prices on Tuesday rose 0.33 per cent to Rs 226 per kg in the futures trade as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium contracts for the January delivery gained 75 paise, or 0.33 per cent, to [...]
Curefoods acquires 5 direct-to-consumer brands for undisclosed amount
New Delhi, Jan 4 (PTI) Curefoods, a delivery-only restaurant chain operator, on Tuesday said it has acquired five direct-to-consumer brands for undisclosed sums as part of its plans to significantly enhance its footprint in India this year. The company has acquired Juno's Pizza based out of Mumbai; Bengaluru-based Cupcake Noggins, organic ice cream brand Iceberg; [...]
India to Announce New Policy to Strengthen Tourism Sector
India Pavilion kicks off ‘Tourism Week’ with a focus on promoting Medical, Spiritual, Adventure and MICE categories Dubai, United Arab Emirates (NewsVoir) The Government of India is coming out with a new tourism policy to strengthen and build capacity of tourism sector in order to provide better services and facilities to the tourists visiting the [...]
OILSEEDS PRICES
MUMBAI, JANUARY 4, 2022 (PTI) MUMBAI - G.N.Extr.45% 38000.00 Kardi Extr - Sesame Extr - Cottonseed Extr - Undec Cottonseed 37000.00 Rice Bran Extr. - Sunflower Extr. 30000.00 Rapeseed Extr. - Soyameal 48% 56348.00 Castor Extr. 9450.00 OIL SEEDS (per 100 Kgs) Gr. Kernel 6600.00 Gr. Bolds 60/70 8500.00 Gr. Javas 60/70 9300.00 Gr Javas [...]
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