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Green energy stock jumps 4% after receiving work order worth ₹ 4.48 Cr for solar pump
Green Energy stock an integrated solar energy solutions provider engaged in offering EPC and O&M services for power plants, solar systems, pumping systems, and many others jumped 4 percent in the day’s trade upon receiving a new work order worth Rs. 4.48 Crores to install solar borewells. Price Action With a market capitalization of Rs. [...]
Pharma stock jumps 11% after completing construction of new plant in Madhya Pradesh
In Thursday’s trading session, the shares of a pharmaceutical company engaged in the manufacturing and trading of medicines surged 11.1 percent to Rs. 90 on NSE, after announcing the completion of the construction of a new plant in Madhya Pradesh. With a market capitalisation of Rs. 147.6 crores, at 10:35 a.m., the shares of Zenith [...]
Navratna stock jumps 8% after company’s board to consider ₹ 4,500 Cr fundraise
The shares of this public sector enterprise gained up to 8 percent after the company’s board scheduled a meeting to consider and approve the proposal for fundraising up to Rs 4,500 crore. Indian Renewable Energy Development Agency Ltd has a market capitalization of Rs 69,236.82 crore, the shares were trading at Rs 259.30 per share, [...]
Solar pump stock under ₹ 5 to add to your watchlist
The solar pump market in India is experiencing significant growth, driven by government initiatives and increasing demand for sustainable agricultural practices. The Indian government has set ambitious targets under the PM KUSUM scheme, aiming to install millions of solar-powered pumps to enhance irrigation and reduce dependency on conventional power sources. Listed below is one such [...]
Market leader stocks with high MOAT to keep in your radar
Moats significantly enhance a company's competitive advantage by providing long-term protection against competitors. They create barriers that make it difficult for rivals to replicate the company's success, whether through unique products, strong brand recognition, or network effects. This durability allows companies to maintain profitability and market share, ensuring sustained growth and attractiveness to investors. Here [...]
Fundamentally strong stocks trading at discount of 30% to add to your watchlist
Fundamentally strong stocks are those of companies that have a solid financial foundation and are well-positioned for long-term growth, regardless of short-term market fluctuations. Some key characteristics of fundamentally strong stocks include strong earnings and revenue growth, healthy balance sheets, robust profitability metrics, competitive advantages and more. Following are a few fundamentally strong stocks that [...]
Stocks to benefit from India-Japan pact to increase defence in Indo-Pacific region
The Foreign and Defence ministers of India and Japan met on Tuesday, August 20, 2024, for expedited talks on defence technology transfers between the two countries and to reaffirm the importance of multilateral defence cooperation and exchanges in the Indo-Pacific sea region following Chinese assertiveness in regional seas. Prime Minister Narendra Modi, with Japan’s foreign [...]
Stock under ₹ 15 in focus after company enters into defence sector
Shares of a pioneer and leading manufacturer in steel tubes and pipes surged by 1.07 percent on BSE to hit an intraday high at Rs. 11.25 in the trading session of Wednesday. With a market capitalisation of Rs. 1,667.7 crores, the shares of Rama Steel Tubes Limited closed in the green at Rs. 11.18, up [...]
ICICI Securities to get delisted; How many shares will you receive?
In Wednesday’s trading session, the shares of a company engaged in the business of retail and institutional broking fell 7.8 percent to Rs. 783.05 on BSE, following NCLT Mumbai’s approval of the delisting proposal despite the opposition of shareholders. With a market capitalisation of Rs. 25,788.7 crores, at 03:02 p.m., the shares of ICICI Securities [...]
IT stock jumps 6% after it sells 14.5% stake in subsidiary to strengthen its semiconductor business
IT engaged in the business of providing global technology services and solutions jumped upto 6 percent in the day’s trade following a stake sale in its subsidiary to strengthen its semiconductor business. Price Action With a market capitalization of Rs. 22,244 Crores, the shares of Cyient Limited were trading at Rs. 2,005.40 per equity share, [...]
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Top Editor’s Pick
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 [...]
5 Stocks that supply defence equipments to Israel to keep an eye on
The geopolitical tensions involving Israel, Iran, and Gaza are characterized by Iran's animosity toward Israel and its support for militant groups like Hamas and Hezbollah, which engage in hostilities against Israel. This led to airstrikes, military & political outrage, loss of life, and more leading to fear of global war among other nations. Listed below [...]
Latest Market News
Govt working to bring changes in GST Act, public platforms to support biz: Jayant Sinha
New Delhi, Dec 23 (PTI) The government is working to bring changes in the GST Act and other public platforms so that companies can utilise data to grow big in size and scale, Jayant Sinha, Chairperson, Parliament Standing Committee on Finance, said on Thursday."Public platforms such as UPI and Aadhaar are very important platforms. Even [...]
REC gets USD 169.5 mn from KfW Development Bank
New Delhi, Dec 23 (PTI) State-owned REC Ltd has signed a pact with KfW Development Bank to avail USD 169.5 million to the power finance sector and renewable energy projects. "REC Ltd has entered into an agreement with KfW Development Bank for availing ODA (official development assistance) term loan of USD 169.5 million under the [...]
Gold gains Rs 140; silver jumps Rs 290
New Delhi, Dec 23 (PTI) Gold in the national capital on Thursday gained Rs 140 to Rs 47,268 per 10 gram in line with strong international precious metal prices, according to HDFC Securities.In the previous trade, the precious metal settled at Rs 47,128 per 10 gram.Silver also jumped Rs 290 to Rs 61,099 per kg [...]
KOLKATA BULLION CLOSING
Kolkata, Dec.23(PTI): SILVER RDY.(BAR) : Rs.62,200.00(61,550.00) Per Kg. SILVER RDY.(PORTION) : Rs.62,300.00(61,650.00) Per Kg. GOLD (24-CARAT) RDY. : Rs.48,950.00(48,750.00) Per 10 Gms. GOLD (22-CARAT) RDY. : Rs.46,450.00(46,250.00) Per 10 Gms. HALLMARKED GOLD (22-CT.) RDY. : Rs.47,150.00(46,950.00) Per 10 Gms. ---- PTI SAM
Hospitality industry on alert mode amid Omicron threat
New Delhi, Dec 23 (PTI) The Indian hospitality industry, battered by the pandemic, is on alert mode but not panicking yet in the face of the Omicron variant threatening to derail prospects of winter holiday season business, according to industry players. With states imposing restrictions on gatherings for Christmas and New Year celebrations, hoteliers and [...]
Pro Kabaddi League (PKL) Joins Hands with Parimatch News as its Official Sponsor
PKL signs a 3-year sponsorship contract with the leading sports news portal to drive a higher sport engagement New Delhi, Delhi, India (NewsVoir) Parimatch News, a leading sports, esports and entertainment platform, has signed up as an official sponsor of Pro Kabaddi League (PKL). This contract covers PKL Seasons 8, 9, and 10. The news [...]
Aditya Vuchi’s PrivacyTech Start-up Doosra Raises Seed Funding From Omidyar Network India and Others
Hyderabad, India – Business Wire India Serial entrepreneur Aditya Vuchi, who recently exited his previous company MediaMint in a Rs. 566 Cr. deal, today announced that he has raised seed funding for his latest venture. His newest startup, Doosra, is focused on solving one of the most complex and pressing problems globally – privacy. The [...]
GoKhana, a SaaS Platform for End-to-End Management of Corporate Cafeterias, Has Raised 1.1 Million USD in a Pre-Series A Round
Bengaluru, Karnataka, India – Business Wire India Founded by Ankur Marda, Ashish Marballi and Hitesh Sarda in 2017, GoKhana digitizes operations of institutional food-courts by introducing efficiencies and making the entire food-ordering process convenient, efficient and contactless. GoKhana is present in 11 cities with contracts translating to 1M+ active users, with a strong pipeline to [...]
‘Tech Should Enable India to Achieve its Vision of Holistic Rejuvenation’: Hon’ble Governor of Tamil Nadu, Thiru R.N. Ravi at Sangam 2021
Chennai, Tamil Nadu, India (NewsVoir) • The Hon'ble Governor launches the 4th edition of Sangam, the flagship convention of IIT Madras Alumni Association (IITMAA) • To be conducted in a hybrid mode, Sangam 2021 will have a series of sessions and activities under the theme of ‘Restoring Balance in STEM’ and the crucial role of [...]
Crude oil futures dip on weak spot demand
New Delhi, Dec 23 (PTI) Crude oil prices on Thursday fell by Rs 2 to Rs 5,466 per barrel after participants cut their positions. On the Multi Commodity Exchange, crude oil for January delivery dropped by Rs 2, or 0.04 per cent, to Rs 5,466 per barrel with a business volume of 6,650 lots. Analysts [...]
Organic India Sets Stage for DhartiMitr Awards 2021; Receives over 100+ Nominations from Farmers across the Country
New Delhi, Delhi, India (NewsVoir) Acknowledging the relentless contribution of farmers from across the country, Organic India, an innovative global leader working with thousands of small family farmers who cultivates sustainable organic farmlands, officially announced the DhartiMitr Awards 2021, today. The award aims to recognize the outstanding contributions of individual organic farmers by felicitating them [...]
AirAsia India launches new in-flight menu
New Delhi, Dec 23 (PTI) AirAsia India on Thursday unveiled its new in-flight menu consisting of 21 regional and international dishes."Guests can pre-book their 'Gourmair' meals on airasia.co.in, the AirAsia India mobile apps or with preferred travel partners, up to 12 hours before their flight," the airline said in a statement.Gourmair is the name of [...]
63 IPO issuers mop up record Rs 1.18 lakh crore from markets so far in 2021: Report
Mumbai, Dec 23 (PTI) The primary issue market has hit an all-time high with 63 corporates raising Rs 1,18,704 crore through main-board initial public offerings (IPOs) so far in 2021, which is nearly 4.5 times more than the Rs 26,613 crore raised through 15 issues in 2020 and almost double of the previous best of [...]
BGE-VEGETABLES
Bengaluru, Dec 23 (PTI) Following are today's Vegetable rates quoted at Agriculture Produce Marketing Committee (APMC), Rates per Quintal. Cauliflower 1000-5000, Brinjal 700-6700, Tomato 450-6000, Bitter Gourd 3300-7000, Bottle Gourd 1700-4000, Ash Gourd 1000-1700, Green Chilly 300-8000, Banana green 500-20000, Beans 400-7000, Green Ginger 750-5000, Carrot 2000-8000, Cabbage 1500-5000, Ladies Finger 350-8500, Snake gourd 1500-4200, [...]
Silver futures rise on spot demand
New Delhi, Dec 23 (PTI) Silver prices on Thursday rose by Rs 152 to Rs 62,340 per kg in futures trade as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange, silver contracts for March delivery gained Rs 152, or 0.24 per cent, to Rs 62,340 per kg in 10,819 [...]
Gold futures gain on spot demand
New Delhi, Dec 23 (PTI) Gold prices on Thursday rose by Rs 16 to Rs 48,215 per 10 gram in futures trade as speculators created fresh positions amid firming spot demand. On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 16, or 0.03 per cent, to Rs 48,215 per 10 [...]
Aluminium futures decline on low demand
New Delhi, Dec 23 (PTI) Aluminium prices on Thursday fell by 0.11 per cent to Rs 224.75 per kg in futures market as participants trimmed their positions on a subdued trend in spot market. On the Multi Commodity Exchange, aluminum for delivery in December declined by 25 paise, or 0.11 per cent, to Rs 224.75 [...]
Govt to develop national database on cooperatives: Cooperation Secy D K Singh
New Delhi, Dec 23 (PTI) The Centre has decided to develop a national database of cooperatives that will help in better implementation of the proposed national policy on cooperatives, Cooperation Secretary D K Singh said on Thursday. "Many people ask how many cooperatives are operating in the country and their sector-wise presence. We have some [...]
TAAI urges govt to relax norms for IATA-accredited travel agents, make registration automated
Mumbai, Dec 23 (PTI) The Travel Agents Association of India (TAAI) has urged the Union tourism ministry to relax norms for its over 1,400 IATA-accredited agents and also make the registration process automated. TAAI, in its 'Focus 2022' document submitted to Tourism Secretary Arvind Singh, also requested the ministry to undertake state-wise registration of the [...]
Zinc futures edge up on robust demand
New Delhi, Dec 23 (PTI) Zinc prices on Thursday rose by 75 paise to Rs 291.25 per kg in futures trade, tracking a firm trend in physical markets. On the Multi Commodity Exchange, zinc contracts for December traded higher by 75 paise, or 0.26 per cent, to Rs 291.25 per kg with a business turnover [...]
BGE-COMMODITIES
Bengaluru, Dec 23 (PTI) Following are Thursday's commodities prices (All rates in Rs/quintal): Rice Fine 4400-5000: Medium 4000-4800: Jowar 2200-2800: Jaggery cube 4200-4900: Jaggery ball 4600-4700: Coriander Seed 9500-14500: Chilies fine 40000-44000: Potato Big 2500-3000: Medium 800-2200: Onion Big 3000-3500: Medium 2000-3000: Small 1000-2000: Tamarind 9000-11000: Garlic 2500-6000: Horsegram 4000-4600: Wheat 2500-3500 Turmeric 9500-15000: Turdhal [...]
Nickel futures gain on firm spot demand
New Delhi, Dec 23 (PTI) Nickel prices on Thursday increased by 0.37 per cent to Rs 1,564 per kg in futures trade, as speculators built up fresh positions amid rising demand from alloy makers in spot market. On the Multi Commodity Exchange, nickel contracts for December delivery gained Rs 5.70, or 0.37 per cent, to [...]
Copper futures rise on high spot demand
New Delhi, Dec 23 (PTI) Copper prices on Thursday traded up by 0.04 per cent to Rs 750 per kg in the futures market on the back of a pick-up in spot demand. On the Multi Commodity Exchange, copper contracts for delivery in December traded higher by 30 paise, or 0.04 per cent, to Rs [...]
FIEO aims at USD 460-475 bn exports next fiscal year
New Delhi, Dec 23 (PTI) The Federation of Indian Export Organisations (FIEO) on Thursday said taking a conservative approach, it will aim for USD 460-475 billion exports in the next fiscal year due to emergence of new variants of coronavirus and the existing supply side challenges. During 2021-22, exports are expected to reach USD 400 [...]
Sungrow Supplies Bangladesh’s Largest PV Plant
DHAKA, Bangladesh, Dec. 23, 2021 /PRNewswire/ -- Sungrow, the global leading inverter solution supplier for renewables, signed the largest PV inverter contract, totaling 280MW DC with Rays Power Infra, a leading integrated solar power company, to build the largest solar power plant in the People's Republic of Bangladesh. Sungrow provides the industry-leading central inverter solution [...]
Omicron worries may impact passenger vehicle supply: FADA
New Delhi, Dec 23 (PTI) Automobile dealers' body FADA on Thursday said passenger vehicle supplies may get affected further, if chip making countries go under lockdown due to the spread of Omicron variant of COVID-19. The industry body, however, noted that it expects the semiconductor shortage situation to normalise by the second half of next [...]
Goyal, Australian Trade Min holds talk to expedite FTA negotiations
New Delhi, Dec 23 (PTI) Commerce and Industry Minister Piyush Goyal and his Australian counterpart Dan Tehan have held talks on December 21 to expedite talks for the proposed free trade agreement, which aimed at enhancing economic ties between the countries. "The ministers appreciated the progress made in various rounds of talks between the chief [...]
Soybean futures rise on fresh bets
New Delhi, Dec 23 (PTI) Soybean prices on Thursday went up by Rs 149 to Rs 6,100 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 149, or 2.5 per cent, to Rs 6,100 per quintal [...]
Rising demand lifts refined soya oil futures
New Delhi, Dec 23 (PTI) Refined soya oil prices on Thursday rose by Rs 1.8 to Rs 1,160.9 per 10 kg in futures trade as speculators raised their bets. On the National Commodity and Derivatives Exchange, refined soya oil for January delivery moved up by Rs 1.8, or 0.16 per cent, to Rs 1,160.9 per [...]
Guar seed futures rise on fresh bets
New Delhi, Dec 23 (PTI) Guar seed prices on Thursday rose by Rs 40 to Rs 6,147 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 40, or 0.65 per cent, [...]
Granules India appoints Sucharita Rao Palepu as independent director
New Delhi, Dec 23 (PTI) Pharmaceuticals firm Granules India Ltd on Thursday announced appointment of Sucharita Rao Palepu, former global head of human resources at Tech Mahindra, as non-executive Independent Director on its board with immediate effect. Palepu brings with her a rich and varied experience of two decades in information technology and financial [...]
Coriander futures decline on low demand
New Delhi, Dec 23 (PTI) Coriander prices on Thursday fell by Rs 42 to Rs 8,602 per quintal in futures trade as speculators reduced their positions amid weak demand at spot market. On the National Commodity and Derivatives Exchange, coriander contracts for January eased by Rs 42, or 0.49 per cent, to Rs 8,602 per [...]
Guar gum futures gain on spot demand
New Delhi, Dec 23 (PTI) Guar gum prices on Thursday gained Rs 151 to Rs 11,125 per five quintal in futures trade as speculators increased their holdings on spot demand.On the National Commodity and Derivatives Exchange, guar gum contracts for January delivery traded higher by 1.38 per cent, or Rs 151, to Rs 11,125 per [...]
IIFL Fintech Fund to invest Rs 300 cr in early-stage fintech startups
New Delhi, Dec 23 (PTI) Fairfax-backed IIFL Group on Thursday said IIFL Fintech Fund is planning to invest Rs 300 crore in early-stage Indian fintech start-ups in the next two years. The move is aimed at facilitating the creation of affordable products and technologies that aid financial inclusion, a statement said. In August 2021, IIFL [...]
Cottonseed oil cake futures rise on fresh bets
New Delhi, Dec 23 (PTI) Cottonseed oil cake prices on Thursday increased by Rs 38 to Rs 2,840 per quintal in futures trade as speculators created fresh positions driven by firm spot demand.On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in January traded up by Rs 38, or 1.36 per cent, [...]
Marsh increases stake in Marsh India from 49% to 92%
Mumbai, Dec 23 (PTI) Global insurance broker and risk advisor Marsh on Thursday said it has raised its shareholding in Marsh India Insurance Brokers Pvt Ltd to 92 per cent from 49 per cent. Marsh India is a joint venture between Marsh International Holdings Inc and India-based Rampart Trust. The enhanced investment will enable Marsh [...]
Cineline India Re-enters Film Exhibition Business
Mumbai, Maharashtra, India (NewsVoir) Cineline India Limited (part of Kanakia Group), one of the most renowned real estate players in MMRDA region is re-entering the film exhibition business and will launch the same under a new brand in Q1 FY23. Rationale of Re-entry in the Film Exhibition Business • The Company was present in the [...]
Salesforce Startup Program Launched in India
Program aims to provide startups a platform to connect, learn, innovate and be a part of the growing Salesforce ecosystem Bangalore, Karnataka, India – Business Wire India Salesforce (NYSE: CRM), the global leader in CRM, today announced the launch of its new Salesforce Startup Program in India, designed to enable startups to innovate, augment customer [...]
KOLKATA BULLION OPENING
Kolkata, Dec.23(PTI): SILVER RDY.(BAR) : Rs.61,550.00 Per Kg. SILVER RDY.(PORTION) : Rs.61,650.00 Per Kg. GOLD (24-CARAT) RDY. : Rs.48,750.00 Per 10 Gms. GOLD (22-CARAT) RDY. : Rs.46,250.00 Per 10 Gms. HALLMARKED GOLD(22-CT)RDY.: Rs.46,950.00 Per 10 Gms. ---- PTI SAM
Tabreed Officially Partners with IFC to Facilitate Expansion in India
MUMBAI, India, Dec. 23, 2021 /PRNewswire/ -- National Central Cooling Company PJSC (DFM: Tabreed) has officially confirmed its significant strategic partnership with the International Finance Corporation (IFC), a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets. Since its establishment in 1956, IFC has [...]
DERICHEBOURG Aeronautics Services and QuEST Global team up to provide complementary expertise to Airbus and are selected as strategic suppliers EMES3
• The companies to provide complementary expertise in Industrial Design, Production Engineering and Customer Services • The partnership will provide enhanced footprint, capabilities and capacity to address end-to-end approach within Engineering, Manufacturing Engineering and Customer Services functions • These services for Airbus will be across divisions and geographies worldwide BENGALURU, India, Dec. 23, 2021 /PRNewswire/ [...]
BluePi partners with Snowflake to enable the fast-growing BFSI sector to generate data insights, at scale
GURGAON, India, Dec. 23, 2021 /PRNewswire/ -- BluePi Solutions, an established player in data-driven solutions, today, announced the partnership with Snowflake, the Data Cloud company, to enable the data insights at scale. This partnership is aimed to serve the financial sector in India, for liberating valued, siloed data and unlocking meaningful insights. Snowflake recently launched [...]
Indorama Ventures inaugurates Global Business Service Center in Kolkata to provide excellent support to businesses across the world
BANGKOK, Dec. 23, 2021 /PRNewswire/ -- Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, inaugurated its Global Business Service Center (GBS) in Kolkata, India to enhance agility, drive standardization, support growth, optimize costs and develop people. The GBS comprises of 250 people acting as a shared service function to provide best-in-class services [...]
Rustomjee Group and Keppel Land Unveil Uptown Urbania, a World-Class Integrated Township in Thane
2 and 3 bedroom residential units will be launched as part of the first phase of the township that will also comprise commercial, entertainment and lifestyle spaces Thane, Maharashtra, India – Business Wire India Rustomjee Group, one of Mumbai’s leading real estate developers,and Keppel Land Limited (Keppel Land),a Singaporean urban space solutions provider for sustainable [...]
US-based SADA Acquires ByteWave Digital operating from Technopark, Thiruvananthapuram
- Acquisition Propels SADA into APAC Market, Provides Professional Services, Engineering, and Support to Global Customers THIRUVANANTHAPURAM, India, Dec. 23, 2021 /PRNewswire/ -- SADA, a leading business and technology consultancy and Google Cloud Premier Partner based in the USA, today announced its acquisition of Thiruvananthapuram Technopark-based ByteWave Digital, a Google Cloud Partner committed to providing [...]
CashKaro, India’s largest Cashback & Coupons site, clocks $1 Billion in annualized GMV
- This year's annualized GMV in non-sale months averaged around $650-750 Million for CashKaro, which is a 3.5X jump YoY - CashKaro witnessed an 8X jump in traffic and 5X growth in sales this year India's largest Cashback & Coupons site, CashKaro, clocked in $1 Billion in annualized GMV in October and early November as [...]
Online merchants can lose up to 40% revenues after Dec 31 due to tokenisation of user card info
The RBI in September announced that online merchants will have to tokenize the card information of their customers, by December 31.Merchants and stakeholders expressed concern over this as they have insufficient time to implement the changes from the backend.They hope that the deadline is extended, otherwise, it will cause disruptions for up to one year [...]
Medplus shares list with nearly 31% premium
New Delhi, Dec 23 (PTI) Shares of Medplus Health Services on Thursday listed with a premium of nearly 31 per cent against the issue price of Rs 796. The stock listed at Rs 1,015, a gain of 27.51 per cent against the issue price on BSE. It further zoomed 40.69 per cent to Rs 1,119.95. [...]
Rupee gains 12 paise to 75.42 against US dollar in early trade
Mumbai, Dec 23 (PTI) The rupee appreciated 12 paise to 75.42 against the US dollar in opening trade on Thursday, tracking a positive trend in domestic equities. Forex traders said firm crude prices and continued foreign fund outflows weighed on the local unit and restricted the up move. At the interbank foreign exchange, the rupee [...]
Macrotech ties up with Morgan Stanley to build warehousing project at Rs 600 cr investment
New Delhi, Dec 23 (PTI) Realty firm Macrotech Developers on Thursday said it has partnered with Morgan Stanley Real Estate Investing (MSREI) to develop a premium warehousing project near Mumbai with an investment of Rs 600 crore. Macrotech Developers, which got listed on stock exchanges in April after raising Rs 2,500 crore through public issue, [...]
Business schedule for Thursday, Dec 23
DELHI: * Assocham conference on non-banking finance companies (1100 hrs) MUMBAI: * No major events listed. PTI ANS ANS
IOC, Adani Total Gas top bidders for city gas licenses
New Delhi, Dec 23 (PTI) State-owned Indian Oil Corporation (IOC) and a joint venture of billionaire Gautam Adani's gas arm and Total of France -- Adani Total Gas Ltd -- have bid for a maximum number of licenses to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding [...]
Sensex jumps over 300 pts in early trade, Nifty tops 17K
Mumbai, Dec 23 (PTI) Equity benchmark Sensex surged over 300 points in early trade on Thursday, tracking gains in index majors Infosys, HDFC and ICICI Bank amid a positive trend in global markets. The 30-share index jumped 305.15 points or 0.54 per cent to 57,235.71 in the opening trade. Similarly, the Nifty advanced 88.25 points [...]
Innoviti gets recognized as one of the ’50 most influential BFSI brands’ in India
Recognition for epitomizing excellence in BFSI industry in 2021 BENGALURU, India, Dec. 22, 2021 /PRNewswire/ -- • Innoviti Payment Solutions, India's largest provider of payment solutions to offline enterprise merchants gets recognized amongst '50 most influential BFSI Brands' in India. This is a recognition of Innoviti's transformational excellence and innovative technologies being extended to the [...]
Happilo India associates with Haryana Steelers for Vivo Pro Kabaddi League
BANGALORE, India, Dec. 23, 2021 /PRNewswire/ -- Mashal Sports was created by Anand Mahindra and Charu Sharma with a simple vision to elaborate Kabaddi as a prestigious sport amongst its Indian audience. The duo was successful in achieving this when STAR India, which is an International Broadcasting giant, backed them up. Ever since Vivo Pro [...]
Encore’s India Operation Boosts Community Health Infrastructure in Gurugram
Gurugram, Haryana, India – Business Wire India Encore’s India-based operations, through its subsidiary, Midland Credit Management (MCM), recently donated an oxygen generation and refilling plant to the District Administration of Gurugram, in Haryana state, where both its India offices are located. On December 9, the plant was inaugurated by Dr. Yash Garg, Deputy Commissioner of [...]
XYZ Kesoram lifts suspension of work at rayon factory
Kolkata, Dec 22 (PTI) Kesoram Industries Ltd on Wednesday lifted the suspension of work at the chemical dicision of its rayon factor at Kuntighat in Hoogly district of West Bengal, sources in the company said. The factory is a wholly owned subsidiary of Cygnet Industries Limited. The company had put the loss making unit under [...]
Sebi slaps Rs 1.5 cr fine on Karvy Computershare in Taurus Mutual Fund case
New Delhi, Dec 22 (PTI) Sebi on Wednesday imposed a penalty of Rs 1.5 crore on Karvy Computershare (presently known as KFin Technologies) for redeeming its units in Taurus Mutual Fund on the basis of privileged information, pertaining to Ballarpur Industries default, available to it as RTA. By redeeming all units in Taurus Liquid Fund [...]
Business brief
Axis Bank signs MoU with Maha Forest Department for salary accounts *Axis Bank has signed a Memorandum of Understanding (MoU) with the Maharashtra Forest Department, offering special salary account 'Axis Republic' to their employees. This salary account will offer numerous benefits to the forest department personnel, which will help them meet their financial needs and [...]
Taxmen can directly start recovery for mismatch in sales in GSTR-1, 3B
New Delhi, Dec 22 (PTI) Come January 1, GST officers can directly initiate recovery action against errant businesses that show higher sales in monthly return GSTR-1 but under-report it while tax payment in GSTR-3B. The move will help curb the menace of fake billing whereby sellers would show higher sales in GSTR-1 to enable purchaser [...]
FSSAI to soon finalise regulations on Ayurveda Aahar
New Delhi, Dec 22 (PTI) Food regulator FSSAI is in the process of finalising the draft regulations on Ayurveda Aahar and also planning to frame rules for providing perpetual licences to food businesses that need not require renewals. Addressing a conference organised by industry body CII, Food Safety and Standards Authority of India (FSSAI) CEO [...]
Incurred claims of standalone health insurers grow at slower pace in Covid-hit FY21
New Delhi, Dec 22 (PTI) Net incurred claims of standalone health insurers rose by 5.34 per cent in the COVID-hit 2020-21 compared to 35.47 per cent increase in the preceding year, showed the Annual Report of Insurance Regulatory and Development Authority (Irdai) on Wednesday. The incurred claims of the overall general insurers too grew at [...]
Kotak Bank arm acquires portfolio from exiting Ford’s captive finance unit
Mumbai, Dec 22 (PTI) A Kotak Mahindra Bank arm on Wednesday announced it has acquired the passenger vehicle finance portfolio of the exiting Ford Motor Company's captive lending platform for an undisclosed sum. Kotak Mahindra Prime acquired Ford Credit India's loan portfolio of Rs 425 crore spread across 16,000 customers, an official statement said. The [...]
Need to have unified portal for grievance redressal to strengthen ease of governance: Panda
New Delhi, Dec 22 (PTI) Financial Services Secretary Debasish Panda on Wednesday suggested having one unified portal for grievance redressal with a view to further strengthen ease of governance. He also made a case for use of technology like artificial intelligence to pin point the exact deficiency in grievance redressal mechanism. Forms on Centralised Public [...]
Airtel Business, IBM deploy cloud solution for group of milk producer cos
New Delhi, Dec 22 (PTI) Airtel Business, the business-to-business unit of Bharti Airtel, and IBM have collaborated to deploy a hybrid cloud solution for a group of Milk Producer Companies (MPCs) created by NDDB Dairy Services, according to a release. The hybrid cloud solution which leverages Airtel Cloud and IBM Power servers will host the [...]
British Council Grant for Digital University Kerala
Thiruvananthapuram, Dec 22 (PTI) The British Council has approved 'Going Global Partnerships Exploratory Grants' for Digital University Kerala (DUK) for promoting disaster preparedness in partnership with the University of Southampton in the UK. Sinnu Susan Thomas, Assistant Professor of Digital University Kerala and Edilson F Arruda, Lecturer of University of Southampton, will collaborate on the [...]
Patel launches Gujarati version of Indian micro-blogging site Koo
Ahmedabad, Dec 22 (PTI) Chief Minister Bhupendra Patel Wednesday launched the Gujarati version of Indian multilingual micro-blogging site 'Koo', which enables people to share content and connect with others using their mother tongue. The made-in-India micro-blogging site aims to provide tools to the people to connect and express their opinion in their language, its co-founder [...]
7 new internet exchange nodes to spur connectivity, digital economy in UP
New Delhi, Dec 22 (PTI) As many as seven new internet exchange nodes will be launched in Uttar Pradesh on Thursday by Minister of State for IT Rajeev Chandrasekhar and Minister of State, Law and Justice S P Singh Baghel, according to an official statement released on Wednesday. These nodes will be located at Meerut, [...]
e-Ashwa Automotive launches range of electric two-wheelers
Mumbai, Dec 22 (PTI) Electric vehicle company e-Ashwa Automotive on Wednesday launched 12 models of Lithium-ion battery-operated scooters and motorcycles under its own brand at prices ranging between Rs 58,000-Rs 1.30 lakh (ex-showroom Delhi).Earlier this month, the Ghaziabad-based company had announced the roll-out of a range of EVs--two-wheelers and three-wheelers (passengers and cargo)-- both for [...]
Steelmaker RINL flags off its first 51 loco wheels shipment to Indian Railways
New Delhi, Dec 22 (PTI) State-owned RINL on Wednesday dispatched the first shipment of 51 loco wheels to the Indian Railways from its forged wheel plant (FWP) located at Raebareli, Uttar Pradesh. Visakhapatnam-based Rashtriya Ispat Nigam Ltd (RINL) has set up the plant at a cost of around Rs 1,700 crore with a production capacity [...]
NTH to open testing facility at Varanasi
Varanasi, Dec 22 (PTI) The National Test House (NTH) will open a satellite centre at Regional Reference Standard Laboratory (RRSL) premises here on Thursday to perform testing of all types of textiles and carpet products, an official said. This satellite centre will also conduct quality testing of drinking water, the official added. The Regional Reference [...]
Validus Wealth plans to grow AUM five times in next 3 years
Mumbai, Dec 22 (PTI) Validus Wealth, a private wealth management firm launched by the key management team of DSP Merrill Lynch led by Atul Singh after its merger with the Swiss private banking major Julius Baer, is eyeing to grow the assets under its custody at least five times over the next three years. The [...]
Demand for non-tech job roles witnesses growth in 2021: Report
Mumbai, Dec 22 (PTI) Even as the country witnessed a high demand for jobs in the digital and IT sector this year, the beginning of 2021 also witnessed a growth in job postings in the education and BFSI (banking, financial services and insurance) sector, according to a report. As India returned to normalcy after a [...]
Rajasthan has received Rs 5 lakh crore investment proposals ahead of investment summit: Officials
Kolkata, Dec 22 (PTI) The Rajasthan government has already received investment proposals and interest worth Rs 5 lakh crore from the ongoing roadshows to promote the upcoming investment summit on January 24-25, officials said here on Wednesday. More proposals are underway and expected from ongoing roadshows, they said. "The interest from roadshows is huge for [...]
Gehlot orders assessment of crop damage due to frost
Jaipur, Dec 22 (PTI) Rajasthan Chief Minister Ashok Gehlot on Wednesday directed officials to conduct special girdawari to assess damage to crops due to frost during severe cold conditions. Gehlot tweeted that frost has been reported in Churu, Jhunjhunu, Sikar, Jaipur, Chittorgarh, Karauli, Bhilwara and Hanumangarh districts of the state. He said that instructions have [...]
Govt moves towards deregulation of tariffs for PPP projects at major ports
New Delhi, Dec 22 (PTI) In a major reform for the port sector, Union minister Sarbananda Sonowal on Wednesday announced tariff guidelines for the public private partnership projects in major ports, saying they will usher in a new era of market economy and make major ports more competitive. According to an official statement, in the new [...]
Business highlights
New Delhi, Dec 22 (PTI) Following are the top business stories at 1950 hours: DCM48 BIZ-RBI-MPC MINUTES RBI Governor for continued policy support to nurture economic revival: MPC minutes Mumbai: RBI Governor Shaktikanta Das pitched for continued policy support to nurture revival in sectors especially those which are exposed to the evolving headwinds in the [...]
I-T dept raids entities linked to Chinese mobile phone manufacturers across India
New Delhi, Dec 22 (PTI) The income-tax department on Wednesday conducted pan-India searches against entities engaged with Chinese mobile phone manufacturers on charges of tax evasion, official sources said. The raids are being carried out at premises in the National Capital Region, Mumbai, Bengaluru, Kolkata, Chennai and Hyderabad, among others, they said. Vendors and distribution [...]
BSE joins hand with Nashik Sarafa Association to develop commodity derivatives mkt
New Delhi, Dec 22 (PTI) Leading stock exchange BSE on Wednesday said it has collaborated with the Nashik Sarafa Association to further develop the commodities and derivatives market in India. Both the parties will also work together on developing new products on bullion commodities contract, the exchange said in a statement. The pact aims to [...]
Goyal pitches for simplicity while formulating measures to improve ease of living
New Delhi, Dec 22 (PTI) Commerce and Industry Minister Piyush Goyal on Wednesday pitched for simplicity while formulating measures to improve ease of living, doing business and reduce the compliance burden. He also called for the creation of a single identification number for businesses and individuals by merging several identification numbers that exist presently, such [...]
MGR-ARECA COCONUT PRICES
Mangaluru, Dec 22 (PTI): Following are today's areca and coconut prices. Areca ( per quintal): Old supari : Rs 49,000 to Rs 53,000 model Rs 51500 New supari : Rs 38,000 to Rs 45,000 model rs 43,000 Koka : Rs 35,000 to Rs 40,000 model rs 37,500 Coconut (per thousand) 1st qlty : Rs 20,000 [...]
Taxmen can directly started recovery for mismatch in sales in GSTR-1, 3B
New Delhi, Dec 22 (PTI) Come January 1, GST officers can directly initiate recovery action against errant businesses that show higher sales in monthly return GSTR-1 but under-report it while tax payment in GSTR-3B. The move will help curb the menace of fake billing whereby sellers would show higher sales in GSTR-1 to enable purchaser [...]
MGR-ARECA COCONUT PRICES
Mangaluru, Dec 22 (PTI): Following are today's areca and coconut prices. Areca ( per quintal): Old supari : Rs 49,000 to Rs 53,000 model Rs 51500 New supari : Rs 38,000 to Rs 45,000 model rs 43,000 Koka : Rs 35,000 to Rs 40,000 model rs 37,500 Coconut (per thousand) 1st qlty : Rs 20,000 [...]
Adopted multi-pronged strategy to address shortage of containers: minister
New Delhi, Dec 22 (PTI) The government on Wednesday said it has adopted a multi-pronged strategy to address the problem of shortage of containers and high freight rates. In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Som Parkash said that efforts are spearheaded by an inter disciplinary task [...]
Electric 2-wheelers sale rise after remodelling of FAME -II scheme, says govt
New Delhi, Dec 22 (PTI) The heavy industries ministry on Wednesday said sale of electric two wheelers has increased to over 5,000 per week from 700 per week earlier after remodelling of the FAME II scheme in June this year. Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India II) Scheme [...]
Sebi slaps Rs 1.5 cr fine on KFin Technologies in Taurus Mutual Fund case
New Delhi, Dec 22 (PTI) Sebi on Wednesday imposed a penalty of Rs 1.5 crore on KFin Technologies (formerly Karvy Computershare) for redeeming its units in Taurus Mutual Fund on the basis of privilege information, pertaining to Ballarpur Industries default, available to it as RTA. By redeeming all units in Taurus Liquid Fund and Taurus Ultra [...]
Physical and digital modes of financial services to co-exist in India: SBI chairman
New Delhi, Dec 22 (PTI) SBI Chairman Dinesh Kumar Khara on Wednesday said physical and digital modes of financial services delivery models will co-exist in India due to a wide geographical space. "In India, we serve a variety of customers. We also serve those who are digital savvy and who would not like to have [...]
Bullion rates
Bengaluru, Dec 22 (PTI): Closing bullion rates: Standard gold [99.5 purity] Rs 49,680 per 10 gram; ornamental gold Rs 4,633 per gram; silverspot [.999 fineness] Rs 63,300 per kg. PTI DVR NVG NVG
Retail prices of tomatoes down 13 pc in last one week, 24 pc in past one month: Govt
New Delhi, Dec 22 (PTI) Tomato prices in retail markets have declined by 13 per cent at the all-India level as on December 21 as compared to a week ago on increased supply, the government said on Wednesday. "Price of tomato at the all-India level, as on December 21, was lower by 12.89 per cent [...]
Pre-budget consultations with FM: Industry groups seek rationalising I-T slabs, infra status to digital services
New Delhi, Dec 22 (PTI) Rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage as well as fuel cell development were some of the suggestions made by various stakeholders at the pre-Budget consultation meeting convened by Finance Minister Nirmala Sitharaman. The customary pre-budget consultation meetings were held with the [...]
Eggoz raises USD 3.5 mn in Series-A funding led by NABVENTURES
New Delhi, Dec 22 (PTI) Egg-focused consumer brand Eggoz on Wednesday said it has raised USD 3.5 million (over Rs 25 crore) in Series-A funding, led by NABVENTURES, a venture capital fund anchored by National Bank for Agriculture and Rural Development. The round also saw participation from Avaana Capital, Rebright Partners, Bellerive Capital and angel [...]
CMS Info Systems IPO subscribed 66 pc on Day 2 of offer
New Delhi, Dec 22 (PTI) The initial public offering of cash management company CMS Info Systems Limited was subscribed 66 per cent on the second day of subscription on Wednesday.The IPO received bids for 2,47,38,294 shares against 3,75,60,975 shares on offer, according to NSE data.The category for Retail Individual Investors (RIIs) received 1.30 times subscription, [...]
Bihar govt to allow exploration of mineral reserves worth Rs 14,594 cr
Patna, Dec 22 (PTI) The Bihar government is all set to grant permission for exploration of recently discovered mineral reserves of magnetite and glauconite worth Rs 14,594 crore in Jamui and Rohtas districts, an official said on Wednesday. The Mines and Geology Department has decided to allow exploration of mineral deposit of around 48.40 million [...]
Amazon files writ petition in Delhi HC seeking clarification on scope of ED’s probe into foreign exchange violation
New Delhi, Dec 22 (PTI) Amazon on Wednesday filed a writ petition in the Delhi High Court seeking clarifications on the scope of Enforcement Directorate's (ED) investigations into alleged foreign exchange violations by the company, according to sources. Last month, Amazon had said it was in receipt of summons by the ED in connection with [...]
Distribution startup Ripplr raises $12 m in debt, equity
Mumbai, Dec 22 (PTI) Distribution and logistics startup Ripplr has raised USD 12 million (around Rs 90 crore) in a funding round with a mix of equity and debt from Japanese firm Sojitz Corporation and Stride Ventures. The pre-series- B funding round also saw participation from existing investors 3one4 Capital, Zephyr Peacock India Growth Fund, [...]
Ather Energy inducts ex-Ola execs Gurinder Singh Sukhija, Murali Sashidharan into management team
Mumbai, Dec 22 (PTI) Electric two-wheeler maker Ather Energy on Wednesday announced the expansion of its senior management team, with the induction of Ola former executives Gurinder Singh Sukhija as head of ownership management and Murali Sashidharan as head of communications and government relations. The appointments to the key positions are aimed at strengthening the leadership [...]
I-T refunds of over Rs 1.44 lakh cr issued so far this fiscal
New Delhi, Dec 22 (PTI) Income tax refunds of over Rs 1.44 lakh crore have been issued to 1.38 crore taxpayers so far this fiscal, the I-T department said on Wednesday. This includes 99.75 lakh refunds of Assessment Year (AY) 2021-22 (fiscal ended March 31, 2021) amounting to Rs 20,451.95 crore. More than 4 crore ITRs [...]
Govt hikes MSP of milling copra by Rs 255/quintal, ball copra by Rs 400 per quintal
New Delhi, Dec 22 (PTI) The government on Wednesday decided to increase the minimum support price (MSP) of milling copra by Rs 255 per quintal and ball copra by Rs 400 per quintal. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval for the minimum support prices (MSPs) [...]
Metro Brands shares decline over 1 pc in debut trade
New Delhi, Dec 22 (PTI) Shares of footwear retailer Metro Brands on Wednesday listed with a discount of nearly 13 per cent from the issue price of Rs 500 and settled over 1 per cent lower.The stock listed at Rs 436, a decline of 12.8 per cent against the issue price on BSE. During the [...]
Platinum Evara is Very Rare, Very You
Mumbai, Maharashtra, India (NewsVoir) For women it’s been a long journey and they have a come a long way. They have learnt that their femininity, is a big part of who they are. It’s not something to be hidden away, or wrestled with; rather it is something to be celebrated. Because owning their fabulously female [...]
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