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Stock hits upper circuit after securing order of ₹ 28 Cr under Mukhyamantri Ujjawal Jharkhand Yojana
In Friday’s trading session, the shares of one of the leading players in the electrical contracting and equipment industry hit a 2% upper circuit at Rs. 139.85, after securing work orders of Rs. 28.4 crores from Jharkhand Bijli Vitran Nigam Limited under Mukhyamantri Ujjawal Jharkhand Yojana. With a market capitalisation of Rs. 174 crores, the [...]
Logistics stock jumps 17% after receiving new contracts from Indian Bulls and STP Ltd
The shares of this microcap company surged around 17 percent in Friday’s trading session after securing 2 new contracts for Freight Forwarding Services. Price Movement: With a market capitalization of Rs. 219 crores, the shares of Kaushalya Logistics Ltd started Friday’s trading session on a higher note at Rs. 107 compared to its previous close [...]
Auto ancillary stock jumps 13% after company to buyback shares at 30% premium
Auto Ancillary stock engaged in the business of manufacturing and selling automotive parts and other components to well-known players like BMW, Aston Martin, Audi, and many others jumped 13 percent in the day’s trade upon declaring Buyback of equity shares of the company at a 30 percent premium for a consideration ~Rs 113 Crores along [...]
Tata group stock to buy now for an upside of more than 35%
The shares of one of the leading steel manufacturer received a buy call from the international brokerage for an upside of 36%. Tata Steel Ltd is a well-diversified company. The company is present throughout the steel manufacturing value chain, from mining and processing iron ore and coal to producing and distributing finished products, with an [...]
Infra stock jumps 7% after securing order worth ₹ 114 Cr for power plant in Tamil Nadu
Infra stocks engaged in manufacturing, engineering, and construction surged nearly 7 percent after securing orders worth Rs.114.3 crore for operation and maintenance services. Price Variation In Friday’s trading session, the shares of Power Mech Projects Limited surged by 6.66 percent to an intra-day high of Rs.6,039.8 per share from its previous close of Rs.5,662.2 apiece. [...]
Defence stock hits 5% upper circuit after receiving order worth ₹ 305 Cr from Larsen & Toubro
Defence and Space engineering stock with clients like ISRO, DRDO, HAL, and many others, engaged in designing, developing, manufacturing, and testing a variety of defence and space equipment hits a 5 percent upper circuit in the day’s trade upon receiving a work order from Larsen & Toubro worth Rs. 305 Crores. Price Action With a [...]
FMCG stock hits 20% upper circuit after its net profit increases by 4260% QoQ; Announces fund raise
Shares of a company engaged in the business of poultry farming and allied activities hit a 20% upper circuit at Rs. 204.3 on Friday, after reporting financial results for Q1 FY24-25 with a rise in the net profit of 4260% QoQ alongside the Board’s approval for Rs. 15.7 crores fund raise. With a market capitalisation [...]
Defence stock hits 10% upper circuit after receiving order worth ₹ 79.63 Cr
The shares of this smallcap company clocked a 10 percent upper circuit after receiving an order worth Rs. 79.63 crores from an Infra and Defence company. In one year, the stock has delivered more than a 300 percent return to its shareholders. Price Movement: With a market capitalization of Rs. 2,462 crores, the shares of [...]
Financially strong stocks under ₹ 200 that have delivered returns of up to 545% in a year
Financially Strong Stocks are those with good financial basics, these stocks are characterized by solid earnings growth potential, positive cash flows, manageable debt levels, and strong management teams. Choosing financially strong stocks can enhance an investor's portfolio by providing stability, consistent returns, growth potential, competitive advantages, resilience during economic cycles, and positive market perception, while [...]
Mid cap stocks with Mutual Fund holdings of up to 42% to keep an eye on
As of June 2024, the assets under management (AUM) for equity mutual funds in India grew by 23 percent, reaching Rs 27.67 lakh crore. Mutual funds have notably increased their equity holdings in 2024, with AUM expanding by 23 percent in the first half of the year. By June 2024, mutual funds held a record [...]
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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
Unhappy with pre-budget consultations, central trade unions demand another meet with longer duration
New Delhi, Dec 18 (PTI) Central trade unions slammed the finance ministry for not having a proper pre-budget consultation meet with them on Saturday, raising strong objection to absence of the Union Finance Minister for the first time and demanded a physical meeting with longer duration. They have said this meeting was an "insult" to [...]
Secondary players need to upgrade steel-making technologies: Minister
New Delhi, Dec 18 (PTI) The steel ministry on Saturday exhorted the secondary players of the sector to upgrade their manufacturing technologies to help achieve the target of 300 MT steel output. Secondary steel makers are those who make steel through electric arc furnace (EAF) route and induction furnace (IF) route. Minister of [...]
Society should guide, provide employment to differently abled people: Gadkari
New Delhi, Dec 18 (PTI) Union Road Transport and Highways Minister Nitin Gadkari on Saturday said it is the duty of society to help, guide and provide employment to differently abled people. Addressing the 8th national conference on 'Disability: Digital Divyang - Enabled & Empowered', Gadkari said giving service to differently abled people is like giving service [...]
Govt working on providing enabling environment, mkt access to jewellery industry: Goyal
Mumbai, Dec 18 (PTI) The government is working on providing enabling environment and market access to the gems and jewellery sector, Union minister Piyush Goyal said on Saturday. The commerce and industry minister was speaking at the foundation stone laying ceremony for a mega common facility centre (CFC) at Santacruz Electronic Export Processing Zone Special [...]
ITC picks up 8.70% stake in Mother Sparsh Baby Care
New Delhi, Dec 18 (PTI) Diversified firm ITC Ltd on Saturday said it has bought 8.70 per cent equity stake in Mother Sparsh Baby Care, a D2C Ayurvedic and natural personal care brand. This acquisition is pursuant to ITC's announcement made on November 26, where the Kolkata-headquartered firm had said to acquire a 16 per [...]
BULLION-CLOSE
Bengaluru, Dec 18 (PTI) Closing bullion rates on Saturday Standard gold (99.5 purity) Rs 50,100 per 10 gram Ornament gold Rs 4,672 per gram Silverspot (.999 fineness) Rs 63,200 per kg. PTI DVR BN BN
State Bank of India marks centenary year with Namaste UK
London, Dec 18 (PTI) The State Bank of India is celebrating its centenary year in the UK with the launch of a new 'Namaste UK' account, aimed at benefitting Indian students and professionals on long-term visas to be able to set up their banking services in Britain before they set off from India. Backed up [...]
ARECA-COCONUT-PRICES
Mangaluru, Dec 18 (PTI) Following are today's Areca and Coconut prices. Areca (per QTL) Old Supari : Rs 49000 to Rs 53000 model Rs 51500 New Supari : Rs 38000 to Rs 45000 model Rs 43000 Koka : Rs 35000 to Rs 40000 model Rs 37500 Coconut (per thousand): 1st qlty : Rs 20000 to [...]
LG takes ride in Olectra Greentech’s electric bus in Jammu
Jammu, Dec 18 (PTI) Jammu and Kashmir Lieutenant Governor Manoj Sinha on Saturday took a ride in Olectra Greentech's electric bus from Raj Bhavan till Trikuta Nagar here, which is on a trial run to augment inter-city and intra-city transport facilities in the Union Territory. The electric bus will be on trial run on different [...]
Central Bank of Sri Lanka terms Fitch downgrade a ‘hasty move’
Colombo, Dec 18 (PTI) The Central Bank of Sri Lanka has termed the Fitch Ratings decision to downgrade the country’s international sovereign rating a ‘hasty move’, asserting that the US credit rating agency has failed to recognise the positive developments taken by the government to galvanise the economy.Fitch Ratings on Saturday has downgraded Sri Lanka's [...]
Internshala launches The Startup Revolution – 1800+ startup internship opportunities for students of India
18th December 2021, New Delhi: The recruitment and training platform, Internshala, has launched its new initiative, “The Startup Revolution’’. The initiative offers the aspiring students 1800+ internship opportunities to kickstart their careers with the startups of India. All the interested candidates with a thirst for knowledge and a drive to be part of innovation can [...]
Govt working on providing enabling environment, mkt access to jewellery industry: Goyal
Mumbai, Dec 18 (PTI) The government is working on providing enabling environment and market access to the gems and jewellery sector, Union minister Piyush Goyal said on Saturday said. The commerce and industry minister was speaking at the foundation stone laying ceremony for a mega common facility centre at Santacruz Electronic Export Processing Zone Special [...]
Shop for Samsung Smartwatches at the Bajaj Finserv EMI Store and Avail Cashback up to Rs. 5,000
Purchase the latest Samsung smartwatch from the Bajaj Finserv EMI Store and get an additional 30 percent discount as cashback vouchers Pune, Maharashtra, India (NewsVoir) Smartwatches have become an integral part of the modern lifestyle. Not only do they grant people easy access to all the essential notifications but also give users complete control over [...]
KOLKATA BULLION CLOSING
Kolkata, Dec.18(PTI) : SILVER RDY. (BAR) : Rs.62,150.00(62,150.00) Per Kg.SILVER RDY. (PORTION) : Rs.62,250.00(62,250.00) Per Kg.GOLD (24-CARAT) RDY. : Rs.49,300.00(49,500.00) Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.46,800.00(46,950.00) Per 10 Gms.HALLMARKED GOLD(22-CARAT) RDY. : Rs.47,500.00(47,650.00) Per 10 Gms. ---- PTI SAM
MRV Student Wins the Esteemed Outstanding Cambridge Learner Award
Mumbai, Maharashtra, India (NewsVoir) MET Rishikul Vidyalaya is proud to announce that CarlishaMendonca from AS and A Levels (Batch 2019-21) has received the prestigious ‘Outstanding Cambridge Learner Award’ for high achievement in Cambridge International AS Level Media Studies for the November 2020 Cambridge examinations series. The global Cambridge awards, which recognises exceptional learner achievement in [...]
Tata Realty to invest Rs 5,000 cr to build IT park project in Navi Mumbai
Mumbai, Dec 18 (PTI) Tata group firm Tata Realty and Infrastructure Ltd on Saturday announced an investment of Rs 5,000 crore to develop a premium IT park project in Navi Mumbai as it expects demand for office and data centre spaces to rise in coming years. In an interview with PTI, Tata Realty and Infrastructure [...]
Explore OnePlus 8T on the EMI Store and Get a Power Bank and Handsfree with Every Purchase
Shop for OnePlus 8T on the Bajaj Finserv EMI Store and avail exclusive benefits such as No Cost EMI, zero down payment facility and gift hampers Pune, Maharashtra, India (NewsVoir) Offering exclusive benefits to those looking to upgrade their smartphone experience, the Bajaj Finserv EMI Store has announced exclusive offers on purchasing the OnePlus 8T, [...]
TII Announces its Electric Vehicles under Montra Brand
Under Montra brand, products will be introduced in three segments - last-mile commute, last-mile delivery and personal mobility Chennai, Tamil Nadu, India (NewsVoir) TI Cycles of India (TII), part of the Murugappa Group, today, announced Montra brand to lead its Electric Vehicle (EVs) business. Montra, an existing brand under TII has stood for achievement, strength, [...]
ATS HomeKraft Records the Biggest Launch in NCR Market with its Pious Orchards Project at Sector 150, Noida
Noida, Uttar Pradesh, India (NewsVoir) ATS HomeKraft has received an overwhelming response for the first phase of its Pious Orchards project in Noida. The Company has achieved sales value of more than INR 350 crores in the Project in a single day event, where in 290 apartments were sold with an area of approx. 700,000 [...]
Senior Journalist Anshul Chaturvedi Debuts with Historical Fiction Novel on Subhas Chandra Bose, Titled A Bird from Afar at Kitaab Festival
With A Bird From Afar, I ended up writing the book I'd always wanted to read - what would Subhas Chandra Bose have done if WW2 had gone differently: Anshul Chaturvedi New Delhi, Delhi, India (NewsVoir) It was an evening of history lessons and lively discussions as senior journalist Anshul Chaturvedi's debut historical fiction novel [...]
How Marketers Can Capitalise on Christmas Season – Pravin Chandan, Veteran Marketer
New Delhi, Delhi, India – Business Wire India Christmas is without a doubt one of the most wonderful times of the year. And as Christmas approaches, people are happy, excited and more receptive to brands’ marketing efforts. This is the best opportunity for brands to connect with prospects and experience sentiments of friendship and gratitude [...]
BGE-COMML-COMMODITIES
Bengaluru, Dec 18 (PTI) Following are today's commodities prices (All rates in Rs/quintal): Rice Fine 4400-5000: Medium 4000-4800: Jowar 2200-2600: Jaggery cube 4700-4900: Jaggery ball 4600-4800: Coriander Seed 9000-13000: Chilies fine 26000-28000: Potato Big 2000-3000: Medium 1600-2000: Onion Big 2500-3500: Medium 1500-2500: Small 500-1500: Tamarind 8500-15000: Garlic 4000-9000: Horsegram 3600-4500: Wheat 2800-3200 Turmeric 8000-15000: Turdhal [...]
BGE-COMML-VEGETABLES
quoted at Agriculture Produce Marketing Committee (APMC), Rates per Quintal. Cauliflower 1000-6000, Brinjal 350-6500, Tomato 400-6200, Bitter Gourd 2777-6500, Bottle Gourd 1800-3800, Ash Gourd 800-1600, Green Chilly 250-7820, Banana green 1000-3500, Beans 400-6500, Green Ginger 1000-5000, Carrot 1500-7000, Cabbage 1000-4800, Ladies Finger 300-7400, Snakeguard 1500-4500, Beetroot 1000-6000, Cucumber 500-4645, Ridge Gourd 2437-5500, Radish 800-4000, Capsicum [...]
Power Minister urges states to be financially viable in view of high oustanding dues of gencos
New Delhi, Dec 18 (PTI) Union Minister R K Singh has urged states to be financially viable in view of the mounting outstanding dues of power generation companies. This will help attract investments in the power sector and also benefit the consumers through reduced cost of electricity and improved consumer services, he said. The suggestion [...]
Sebi to auction Vishwamitra International Infra’s properties next month
New Delhi, Dec 18 (PTI) With an aim to recover investors' money, markets regulator Sebi will auction eight properties of Vishwamitra International Infra next month for a reserve price of Rs 2.8 crore. These properties are vacant lands located in West Bengal, the Securities and Exchange Board of India (Sebi) said in [...]
Tyeb Mehta’s never before auctioned works to headline ‘Modern Indian Art’ sale
New Delhi, Dec 18 (PTI) Two masterpieces by Indian modernist Tyeb Mehta will make their debut at Astaguru's upcoming Modern Indian Art sale.The auction, set to be held on December 27-28, will also feature artworks by avant-garde Indian painters including the likes of MF Husain, FN Souza and Krishen Khanna, the online auction house announced."It [...]
KOLKATA BULLION OPENING
Kolkata, Dec.18(PTI): SILVER RDY (BAR) : Rs.62,150.00 Per Kg.SILVER RDY(PORTION) : Rs.62,250.00 Per Kg.GOLD (24-CARAT) RDY. : Rs.49,500.00 Per 10 Gms.GOLD (22-CARAT) RDY. : Rs.46,950.00 Per 10 Gms.HALLMARKED GOLD (22-CARAT) RDY. : Rs.47,650.00 Per 10 Gms. ---- PTI SAM
Govt gets financial bids for Pawan Hans stake
New Delhi, Dec 18 (PTI) The government has received an undisclosed number of financial bids for sale of its stake in ailing helicopter operator Pawan Hans, moving the divestment process to the last stage. "The financial bids for Pawan Hans disinvestment have been received by the transaction advisor. The process now moves to a concluding [...]
Rs 80,000 cr investment as 430 bids pour in for city gas licensing round
New Delhi, Dec 18 (PTI) As much as Rs 80,000 crore investment is envisaged in setting up city gas infrastructure in 61 geographical areas (GAs), including Jammu, Nagpur, Pathankot and Madurai, that were put on bid in the latest licensing round, oil regulator PNGRB said. Bids for the 65 GAs offered in the 11th city [...]
Rasha Kelej, a Senator and Merck Foundation CEO, Africa’s Unsung ‘Sheroes’ of Women and Youth Empowerment
Mumbai, Maharashtra, India&Cape Town, South Africa– Business Wire India Senator, Dr. Rasha Kelej, an African woman to hold the position of the first CEO to Merck Foundation. She is also Senator at the Egyptian Senate, a strong crusader for transforming patient care in Africa and developing countries, passionate advocate of women’s rights and girls’ education, [...]
Cotelligent Launches New Cyber Warrior Centre of Excellence (COE) in Hyderabad
Visit from KTR to formally open the COE and overview from Cotelligent on how their #CyberWarriors initiative will create a supreme workforce of over 2000 cybersecurity professionals from Telangana HYDERABAD, India, Dec. 17, 2021 /PRNewswire/ -- Cotelligent- a TechDemocracy Company, one of the top providers of cybersecurity products and services, notably Identity and Access Management [...]
Fitch downgrades Sri Lanka’s sovereign rating to ‘CC’
Colombo, Dec 18 (PTI) Fitch has downgraded Sri Lanka's sovereign rating to 'CC' from 'CCC', saying there is an increased probability of a default in coming months in light of the country's worsening external liquidity position underscored by a drop in foreign-exchange reserves. The New-York based rating agency said it will be difficult for the [...]
3×3 Pro Basketball League Season 3 to Tip off in March 2022
Chandigarh, India (NewsVoir) • Basketball Federation of India has granted exclusive recognition to ‘3x3 Pro Basketball League Indian Sub-continent (3BL)’, making it India’s only authorized professional 3x3 basketball league. 3BL is the only Professional Basketball League in the world to have exclusive rights from both the International Federation (FIBA) and the National Federation (BFI).• 3BL [...]
Bilateral 10- Hour Surgery for Disabling and Intractable Tinnitus in a 69-Year-Old Man
Chennai, Tamil Nadu, India – Business Wire India MGM Healthcare, a super-specialty hospital in the heart of Chennai city, today announced that it has successfully performed a rare 10-hour surgery on a 69- year-old Mr. Brajeshwar, from West Bengal and cured his long-drawn hearing ailment that caused constant ringing in both his ears. Five years [...]
Justin Sun Appointed as the WTO Ambassador for Grenada By The Ministry of Foreign Affairs
SINGAPORE, Dec. 17, 2021 /PRNewswire/ -- The Government of Grenada has announced the appointment of Yuchen (Justin) Sun as its new Ambassador and Permanent Representative to the WTO in Geneva. Justin Sun is thus authorized and empowered to represent the Government of Grenada at meetings of the WTO. H.E. Mr. Justin (Yuchen) SUN, a leading [...]
Twin Health Expands its Operations in India; Appoints Prabh Singh as its CEO
Bengaluru, Karnataka, India – Business Wire India Twin Health, makers of the Whole-Body Digital Twin™ technology, today announced the appointment of Prabh Singh as the CEO for its India operations. Founded in 2018, Twin Health invented the Whole-Body Digital Twin™ to reverse and prevent chronic metabolic diseases like Type 2 Diabetes, while improving energy and [...]
Serum Institute CEO hails WHO’s approval of Covovax for emergency use
New Delhi, Dec 17 (PTI) Serum Institute of India (SII) CEO Adar Poonawalla on Friday hailed WHO's approval for emergency use of Covovax vaccine "as yet another milestone" in the fight against COVID-19. The World Health Organization (WHO) on Friday listed the Covovax as the ninth COVID-19 vaccine for emergency use with an aim to [...]
ICAI to soon get powers to act against erring partnership firms
New Delhi, Dec 17 (PTI) Chartered accountants' apex body ICAI will soon have powers to initiate disciplinary action against erring partnership firms as well, with the government proposing amendments to the Chartered Accountants Act. The apex institutes for cost accountants and company secretaries too will get similar powers. As part of efforts to bolster the [...]
upGrad partners Clark University to offer master’s degree in various courses
Mumbai, Dec 17 (PTI) Edtech major upGrad on Friday said it has partnered with Clark University in the USA to offer a master's degree in Data Analytics, Information Technology and Project Management.This will further strengthen the company's 'Study Abroad' vertical. This partnership will provide dual certification from IIIT-Bangalore and Clark University where learners get to [...]
India-Vietnam sign letter of intent for greater cooperation in postal sector
New Delhi, Dec 17 (PTI) India and Vietnam have inked a letter of intent for enhanced cooperation in the postal sector, an official release said on Friday.The letter of intent underscores the joint objectives of both the nations to facilitate cooperation in the field of posts and telecom, promote sharing of information and experience, cooperate [...]
IFCI gets shareholders’ approval to raise up to Rs 1,000 cr via bonds
New Delhi, Dec 17 (PTI) Infrastructure term lender IFCI Ltd on Friday said it has received shareholders' approval to raise up to Rs 1,000 crore in tranches by issuing various securities. The company sought authorisation from the shareholders for making offer to subscribe to securities/raise funds through private placement in one or more tranches up [...]
ICSI welcomes bill to amend law governing company secretaries
New Delhi, Dec 17 (PTI) ICSI on Friday welcomed the proposed changes to the laws governing company secretaries and said the amendments will widen the scope to deal with professional misconduct as disciplinary action can also be taken against a member in his or her capacity as a partner of a CS firm.The government has [...]
Brookfield India Reit snaps up Candor TechSpace N2 in Noida for Rs 3,970 cr
Mumbai, Dec 17 (PTI) Brookfield India Real Estate Trust (Brookfield India Reit), the country's only institutionally managed public commercial realty vehicle, on Friday agreed to purchase 100 per cent stake in the Noida-based Seaview Developers, that owns Candor TechSpace N2 office park, for Rs 3,970 crore. With this acquisition, Brookfield India Reit's operating area increases [...]
ICSI welcomes bill to amend law governing company secretaries
New Delhi, Dec 17 (PTI) ICSI on Friday welcomed the proposed changes to the laws governing company secretaries and said the amendments will widen the scope to deal with professional misconduct as disciplinary action can also be taken against a member in his or her capacity as a partner of a CS firm.The government has [...]
RBI authorises RBL Bank to collect indirect taxes
New Delhi, Dec 17 (PTI) The Reserve Bank has granted permission to RBL Bank to collect indirect taxes on behalf of the government, the private sector lender said on Friday. It has already been granted permission to collect direct taxes. "RBL Bank has been authorized by the Reserve Bank of India (RBI), based on recommendation [...]
CA Act amendment bill: ICAI flags concerns over proposal on disciplinary panel presiding officer
New Delhi, Dec 17 (PTI) ICAI on Friday said proposed changes to the law that governs chartered accountants will help the institute function in a more cohesive manner, but raised concerns about the proposal to have a non-chartered accountant as a presiding officer of its disciplinary committee.Corporate Affairs Minister Nirmala Sitharaman on Friday introduced the [...]
SBI’s exposure to road sector at Rs 90,000 cr, says chairman
Mumbai, Dec 17 (PTI) SBI's exposure to the road sector is close to Rs 90,000 crore, which is 37 per cent of the total banking exposure to the segment, its Chairman Dinesh Khara said on Friday. Speaking at a national conference on investment opportunities in highways, transport and logistics, he said State Bank [...]
Rapid Holdings 2 offloads India Infrastructure Trust’s shares worth Rs 173 cr
New Delhi, Dec 17 (PTI) Rapid Holdings 2 Pte Ltd on Friday sold shares of India Infrastructure Trust worth Rs 173 crore on Friday, through an open market transaction. On the BSE, it sold 1.72 crore units at an average price of Rs 101. The deal value stood at Rs 173.72 crore. Through a separate [...]
AMNS India’s Rs 1.02 lakh crore steel plant gets Odisha govt approval
Bhubaneswar, Dec 17 (PTI) The Odisha government on Friday approved steelmaker AMNS India's proposal to set up a 24 mtpa integrated steel plant in Kendrapara district at an investment of Rs 1.02 lakh crore, officials said.The proposal was approved at a meeting of the High-Level Clearance Authority (HLCA), chaired by Chief Minister Naveen Patnaik.The mega [...]
Delhi Customs seize outbound undeclared diamonds valued at Rs 1.56 cr
New Delhi, Dec 17 (PTI) The Finance Ministry on Friday said the Delhi Customs seized a consignment of diamonds having 1,082-carat weight being sent out of India.The officers of Air Cargo Export Commissionerate, Delhi on the basis of suspicion, examined a consignment declared as ‘plastic hot fix’ with a value of Rs 5,000, an official [...]
1,185 hectare land’s acquisition remains for stage 2 of Noida Airport
Noida/Lucknow, Dec 17 (PTI) Acquisition of 1,185 hectare of land from six villages in Jewar is required for the stage two of the Noida International Airport, Uttar Pradesh Chief Secretary Rajendra Kumar Tiwari was informed on Friday. The land would be used for building a third runway, maintenance, repair and overhaul facilities and other aviation-related [...]
India, Germany Development Bank sign 442.26 mn loan pact for Surat Metro Rail Project
New Delhi, Dec 17 (PTI) The Government of India and the Germany Development Bank – KfW (Kreditanstalt für Wiederaufbau) on Friday signed a 442.26 million euros loan pact for Surat Metro Rail project. The total cost of the project is 1.5 billion euros, of which KfW is financing 442.26 million euros, a Finance Ministry statement [...]
Two-day bank strike ends; services across country hit
New Delhi, Dec 17 (PTI) The two-day nationwide bank strike called by United Forum of Bank Union ended on Friday, impacting normal operations across the country.Lakhs of employees of public sector banks were on strike to protest against the proposed privatisation of banks by the government.Banks will work as usual on Saturday, as it is [...]
PM Modi holds meeting with PE, VC investors
New Delhi, Dec 17 (PTI) As preparation for next year's Budget gathers steam, Prime Minister Narendra Modi on Friday met with leading private equity/venture capital players to seek suggestions on making India a more attractive investment destination. The Prime Minister sought suggestions towards improving ease of doing business in India, attracting more capital and furthering [...]
GACL, GAIL sign pact to set up Rs 1,000-crore bioethanol plant in Gujarat
Ahmedabad, Dec 17 (PTI) Gujarat Alkalies and Chemicals Ltd and GAIL India on Friday signed a memorandum of understanding to set up a 500 KLD bioethanol plant at an estimated investment of Rs 1,000 crore in Gujarat.The MoU was signed by the representatives of both the companies at Gandhinagar in the presence of Gujarat Chief [...]
No doubt about economic viability of road projects: Gadkari
Mumbai, Dec 17 (PTI) Union Minister Nitin Gadkari on Friday called upon investors to take up road projects as they offer "very high" internal rate of return, ensuring their economic viability. Assuring investors that their investments are safe, the road transport and highways minister said the possibility of any project getting stalled is nil now. [...]
IFSCA sets up panel for creating framework for transfer of stressed loan
New Delhi, Dec 17 (PTI) The International Financial Services Centres Authority (IFSCA) on Friday sets up a committee for creating a framework for transfer of stressed loans from domestic lenders to financial institutions in IFSC. Former executive director of RBI G Padmanabhan would be chairing the committee which will also include representative from law firm [...]
COMMODITY PRICES
Mumbai, Dec 17 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST. COPPER :- COPPER CABEL SCRAP 725.00 COPPER HEAVY SCRAPS 715.00 COPPER ARMATURE (CREDIT) 694.00 COPPER UTENSILS SCRAP 632.00 CC ROD 774.00 BRASS :- BRASS SHEET CUTTING 541.00 BRASS UTENSIL SCRAP 477.00 BRASS HONEY 470.00 ALUMINIUM :- ALUMINIUM UTENSIL SCARPS 176.00 ALUMINIUM EXTRUSION SCRAP 200.00 ALUMINIUM [...]
OILSEEDS PRICES
Mumbai, Dec 17 (PTI) OILS (per 10 Kgs) G.Nut Raw 1320.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1170.00 Sunflower Exp.Ref. 1250.00 Cottonseed(Refined) 1210.00 Refined Palm Oil 1158.00 Soyabean Ref. 1188.00 Imp.Soyabean Crude - Rapeseed Ref. 1670.00 Rapeseed Exp. 1640.00 Copra white 1700.00 Rice Bran 4-7% FFA - Rice Bran 1120.00 Linseed 2000.00 Castor [...]
Advance tax collection rises 54% to Rs 4.60 lakh cr in FY22 : FinMin
New Delhi, Dec 17 (PTI) The finance ministry on Friday said advance tax collection increased by 53.50 per cent to Rs 4.60 lakh crore so far this fiscal year, indicating recovery in the economy. Direct tax collections for 2021-22, as on December 16, show that net collections are at Rs 9.45 lakh crore compared to [...]
Serum Institute CEO hails WHO’s approval of Covovax for emergency use for children
New Delhi, Dec 17 (PTI) Serum Institute of India (SII) CEO Adar Poonawalla on Friday hailed WHO's approval for emergency use of Covovax vaccine for children "as yet another milestone" in the fight against COVID-19.The World Health Organization (WHO) on Friday listed the Covovax as the ninth COVID-19 vaccine for emergency use with an aim [...]
Maharashtra to get 5 more multi-modal logistics parks; Nagpur one to be functional shortly
Mumbai, Dec 17 (PTI) The Centre and Maharashtra government on Friday signed five agreements to set up multi-modal logistics parks in Mumbai Metropolitan Region, Pune, Aurangabad, Nashik and Dighi Port Industrial Estate.These MoUs were signed by the National Highways Logistics Management (NHLML), Maharashtra Industrial Development Corporation (MIDC) and Rail Vikas Nigam (RVNL) at the conference [...]
Competition Comm suspends approval for Amazon-Future Coupons deal; slaps Rs 202 cr penalty on e-retailer
New Delhi, Dec 17 (PTI) In a significant development, the Competition Commission on Friday suspended its more than two-year-old approval for Amazon's deal with Future Coupons and imposed a Rs 202 crore penalty on the e-commerce major for failure to furnish true and complete details about the transaction. The ruling by CCI assumes significance amid [...]
Oil marketing firms discouraging ethanol made from sugarcane/molasses: ISMA
New Delhi, Dec 17 (PTI) Oil marketing companies (OMCs) are discouraging ethanol produced from sugarcane as well as molasses while promoting grain-based ethanol projects, industry body ISMA on Friday said, and demanded that immediate corrective measures should be taken to ensure that blending programme is not derailed. Addressing its 87th Annual General Meeting, Indian Sugar [...]
Two-day bank strike ends; banking operations hit across Maharashtra
Mumbai, Dec 17 (PTI) Banking operations across Maharashtra remained impacted for the second straight day on Friday as employees of state-run lenders continued their two-day strike against bank privatisation. Disruption in services like cash withdrawals, deposits and cheque clearances hit customers hard across the state. Most of the state-owned banks' ATMs went dry due to [...]
KSUM’s Corner raises Rs 50 lakh via IAN Fund
Kochi, Dec 17 (PTI): An e-commerce startup under the Kerala Startup Mission (KSUM), Corner, which provides data-driven customer engagement products for D2C e-commerce stores, has raised Rs 50 lakh through IAN Fund. Corner, a software-as-a-service (SaaS) platform has received the IAN Fund, which invests in innovative companies enabling them broaden their core engineering and customer [...]
Govt rules out hike in minimum selling prices of sugar; exports may touch 60 lakh tonnes in 2021-22
New Delhi, Dec 17 (PTI) Food Secretary Sudhanshu Pandey on Friday ruled out hike in the minimum selling price of sugar from current Rs 31 per kg as domestic rates are higher and expressed confidence that exports will touch 50-60 lakh tonnes in the current marketing year starting October. Addressing 87th Annual General Meeting (AGM) [...]
SIAM appoints Vinod Aggarwal as Vice President
New Delhi, Dec 17 (PTI) Auto industry body SIAM on Friday said it has appointed Vinod Aggarwal as its Vice President for the 2021-22 financial year.The Executive Committee of Society of Indian Automobile Manufacturers (SIAM) has elected VE Commercial Vehicles (VECV) MD and CEO Vinod Aggarwal as its new Vice President for the current year [...]
Jalan-Kalrock consortium approaches NCLT to fast-track Jet Airways resolution; eyes restarting ops in 2022
Mumbai, Dec 17 (PTI) The winning consortium of Jet Airways on Friday said it wants to infuse funds in the airline and has approached the NCLT to fast-track implementation of the resolution plan approved by the insolvency court in June this year. The consortium, in a statement, also said it plans to restart domestic operations [...]
Business highlights
New Delhi, Dec 17 (PTI) Following are the top business stories at 1950 hours: DEL69 BIZ-CCI-LD AMAZON CCI suspends approval for Amazon-Future Coupons deal; slaps Rs 202 cr penalty on e-tailer New Delhi: In a significant development, the Competition Commission of India (CCI) on Friday suspended its more than two-year-old approval for Amazon's deal to [...]
Draft Regional Plan 2041: NCRPB proposes measures to transform NCR into global economic region
New Delhi, Dec 17 (PTI) National Capital Region Planning Board (NCRPB) in its Draft Regional Plan 2041 has proposed a slew of measures to transform the NCR into a vibrant global economic region.The draft plan puts the special impetus on 30-minute connectivity through super-fast trains within major cities of the National Capital Region (NCR) and [...]
Supriya Lifescience IPO subscribed 5.69 times on Day 2 of offer
New Delhi, Dec 17 (PTI) The initial share sale of Supriya Lifescience Limited received 5.69 times subscription on the second day of offer on Friday.The initial public offer (IPO) received bids for 8,27,05,698 shares against 1,45,28,299 shares on offer, as per NSE data.The category for Retail Individual Investor (RIIs) was subscribed 25.38 times, while non-institutional [...]
BSE, NSE come out with guidelines on technical glitches for members
New Delhi, Dec 17 (PTI) Leading stock exchanges BSE and NSE have put out comprehensive guidelines for handling technical glitches at members' end in order to prevent disruptions. Under the new framework, members will have to pay Rs 20,000 per day in case of failure to report the incident to the exchanges within [...]
Airtel prepays Rs 15,519 cr to DoT to clear all deferred liabilities for 2014 spectrum
New Delhi, Dec 17 (PTI) Telecom operator Bharti Airtel on Friday said it has paid Rs 15,519 crore to the government towards prepayment of its entire deferred liability pertaining to spectrum acquired in the 2014 auction. The company had acquired 128.4 MHz spectrum (including Telenor spectrum) for a consideration of Rs 19,051 crore in the [...]
Sebi to auction Vishwamitra International Infra’s properties on Dec 27
New Delhi, Dec 17 (PTI) Markets regulator Sebi on Friday said it will auction eight properties of Vishwamitra International Infra on December 27 to recover investors' money. These properties will be auctioned at a reserve price totalling Rs 2.8 crore, the Securities and Exchange Board of India (Sebi) said in a notice. Inviting bids for [...]
HP Adhesives IPO subscribed 20.96 times
New Delhi, Dec 17 (PTI) The initial public offer of HP Adhesives Limited was subscribed 20.96 times on the last day of subscription on Friday.The IPO received bids for 5,29,89,650 shares against 25,28,500 shares on offer, according to NSE data.The category for Retail Individual Investors (RIIs) was subscribed 81.24 times, non institutional investors 19.04 times, [...]
Lack of robust road connectivity to ports major bottleneck for shipping sector: Par Panel
New Delhi, Dec 17 (PTI) Asserting that lack of robust road connectivity to ports is one of the major bottlenecks faced by the shipping sector in India, a parliamentary panel has expressed concern over slow progress of port connectivity roads under Bharatmala Pariyojana. The panel also expressed concern over various hindrances being faced in the filling up of vacancies [...]
Jalan-Kalrock consortium approaches NCLT to fast-track Jet Airways resolution
Mumbai, Dec 17 (PTI) The winning consortium of Jet Airways on Friday said it wants to infuse funds in the airline and has approached the NCLT to fast-track implementation of the resolution plan approved by the insolvency court in June this year. The consortium, in a statement, also said it plans to restart domestic [...]
ICICI Bank raises Rs 5,000 cr by issuing bonds
New Delhi, Dec 17 (PTI) ICICI Bank has raised Rs 5,000 crore debt capital by issuing bonds on a private placement basis, the bank said on Friday. The board of directors of the bank had in April this year approved to raise funds by issuing debt securities. "Pursuant to the same, the bank has allotted [...]
Indiabulls Housing Finance shares tumble over 8 pc
New Delhi, Dec 17 (PTI) Shares of Indiabulls Housing Finance on Friday tumbled over 8 per cent a day after its promoter Sameer Gehlaut sold a nearly 12 per cent stake in the firm. The stock declined 8.34 per cent to Rs 233.10 on BSE. During the day, it plunged 12.42 per cent to Rs [...]
Rupee firms up gains to end at 76.06 against dollar
Mumbai, Dec 17 (PTI) The rupee pared its initial losses to settle marginally higher by 3 paise at 76.06 against the US dollar on Friday, even as concerns over foreign fund outflows and rising crude oil prices weighed on overall sentiment. The local unit, however, recorded its fourth weekly decline amid growing concerns over the [...]
Sebi asks custodians, DDPs to publish investor charters, disclose monthly data on complaints
New Delhi, Dec 17 (PTI) Capital markets regulator Sebi on Friday directed custodians and designated depository participants to publish investor charters on their websites and make disclosures about complaints received by them.They are required to disclose on their respective websites the monthly data on complaints received and their redressal latest by 7th of succeeding month, [...]
Forex reserves decline USD 77 mn to USD 635.828 bn
Mumbai, Dec 17 (PTI) Declining for the third consecutive week, India's forex reserves dipped by USD 77 million to reach USD 635.828 billion for the week ended December 10, RBI data showed on Friday. In the previous week, the reserves had slid by USD 1.783 billion to USD 635.905 billion. In the reporting week ended [...]
HDFC Bank MSME loan book in TN breaches Rs 20,000 cr
Chennai, Dec 17 (PTI) Private sector HDFC Bank on Friday said the bank's micro, small and medium enterprises loan book for Tamil Nadu crossed Rs 20,000 crore as of September 30, 2021. The bank was the second largest bank in the state with a market share of over 10 per cent, HDFC Bank said in [...]
Rise in sales calls pulls India to 4th spot among nations most affected by spam calls: Truecaller
New Delhi, Dec 17 (PTI) India has moved up in rankings from ninth to the fourth spot this year in the tally of top 20 countries affected by spam calls, owing to a significant increase in sales and telemarketing calls, as per a report by Truecaller. This year, all categories of sales-related calls made up [...]
Bajaj Allianz General Insurance launches health product
Mumbai, Dec 17 (PTI) Bajaj Allianz General Insurance on Friday launched a new product in its health insurance vertical offering cashless facilities in four key areas -- tele-consultation, doctor consultation, investigations, and annual preventive health check-up covers. Called 'health prime rider', the new product is offered to its existing health insurance customers in partnership with [...]
Hevo raises $30 million in funding from Sequoia Capital India, others
New Delhi, Dec 17 (PTI) Hevo Data, a SaaS (software as a service) startup that offers an automated data pipeline platform, on Friday said it has raised USD 30 million (about Rs 228 crore) led by Sequoia Capital India.The series B round also saw participation from Qualgro, Lachy Groom, Chiratae Ventures and several marquee angel [...]
Muskaan’s Fresh Approach to Promote India’s Literary and Cultural Heritage Among Students
Kolkata, West Bengal, India (NewsVoir) Project `Muskaan’ – an initiative of Prabha Khaitan Foundation and Education for All Trust and supported by Shree Cement - will reach out to thousands of students across India to popularise heritage literature and culture by engaging them in cultural programmes, story-telling, dance, music, puppetry, theatre and art. Distributing nutritious [...]
Sebi extends deadline for comment submission for proposals on market making mechanism
New Delhi, Dec 17 (PTI) Markets regulator Sebi on Friday extended the timeline for submission of comments on proposals related to market-making mechanism in the corporate bond market to January 16, 2022.In a bid to enhance liquidity in the secondary market for corporate bonds, Sebi proposed a market-making mechanism in the corporate bond market in [...]
UP Assembly passes Rs 8,479 cr supplementary budget for FY22
Lucknow, Dec 17 (PTI) The Uttar Pradesh Assembly on Friday passed the second supplementary budget of Rs 8,479.53 crore for the ongoing fiscal by voice vote. The Opposition parties raised an objection regarding the supplementary budget, terming it as irrelevant. The Assembly also approved a proposal for expenditure of Rs 1,68,903.23 crore through 'Vote on [...]
PRICES-BULLION-CLOSE
Mumbai, Dec 17 (PTI) BULLION CLOSING (INCLUSIVE OF OCTROI AND LOCAL CHARGES ) SILVER SPOT (IN RS PER kg ) : 61811.00 STANDARD GOLD (99.5) : 48596.00 PURE GOLD (99.9) : 48791.00 (NOTE : SOURCE THE BOMBAY BULLION COMMITTEE) FOR AFP: ( INCLUSIVE OF OCTROI AND LOCAL TAXES) LONDON 1712 1730 (5:30 pm) SILVER SPOT [...]
NEWSALERT
CCI suspends its approval given for Amazon-Future Coupons deal; imposes Rs 202 cr penalty on Amazon for certain contraventions. PTI RAM ABM ABM
Bloggers and influencers came from all over India visited various tourist destinations in Gujarat
Gandhinagar (Ahmedabad) [India], December 17: In order to give a new dimension to the tourism sector of Gujarat through social media, A Bloggers &Influencers Meet was held at Gandhinagar on 1st December 2021 by Gujarat Tourism Corporation Ltd. in collaboration with the Government of India. This was the first time such a meet was organized [...]
PRICES MUM BULLION CLOSING
Mumbai, Dec 17 (PTI) SILVER SPOT (IN RS PER kg): 61811.00 STANDARD GOLD (99.5) : 48596.00 PURE GOLD (99.9) : 48791.00 --------------------- PTI MUM SVC SHW SHW
Sputnik V induces robust neutralizing antibody response to Omicron variant, which is further strengthened by Sputnik Light booster, the Gamaleya Center preliminary study shows
MOSCOW,, Dec. 17, 2021 /PRNewswire/ -- - The Gamaleya Center's recent preliminary laboratory study shows that Sputnik V demonstrates high virus neutralizing activity (VNA) against the Omicron (B.1.1.529) variant and is expected to provide strong defense against severe disease and hospitalization. - Sputnik V has demonstrated 3-7x less of a reduction in virus neutralizing activity [...]
Sebi asks broking community to enhance security firewalls to prevent cyber fraud
Mumbai, Dec 17 (PTI) Markets watchdog Sebi has asked the broking community to strengthen data/cybersecurity firewalls to secure their customers from cyber fraudsters and develop technologies to ease the process of investing in the markets. Addressing the Association of National Exchange Members of India (Anmi), Sebi executive director GP Garg on Friday urged brokers to [...]
PM Modi meets large global investors
New Delhi, Dec 17 (PTI) As preparation for next year's Budget gathers steam, Prime Minister Narendra Modi on Friday met with leading private equity/venture capital players to seek suggestions on making India a more attractive investment destination. Discussions during the meet revolved around seeking suggestions to make it even more easier to do business in [...]
Business briefs
IMC donates Rs 25 lakh to Mumbai for COVID relief Mumbai, Dec 17 (PTI) Industry lobby IMC on Friday said it has donated Rs 25 lakh to the city of Mumbai for COVID relief. The over a century-old grouping based in the financial capital presented a cheque for the amount to Municipal Commissioner Iqbal Singh [...]
Sebi tweaks operational guidelines on listing of commercial papers
New Delhi, Dec 17 (PTI) Capital markets regulator Sebi on Friday tweaked operational guidelines pertaining to the listing of commercial papers in order to bring uniformity in requirements. To ease the compliance burden on listed entities, Sebi in August consolidated existing procedures pertaining to issue and listing of Non-convertible Securities, Securitised Debt [...]
IRB Infra receives letter of award for Ganga Expressway project group-1
New Delhi, Dec 17 (PTI) IRB Infrastructure Developers Ltd on Friday said it has received a letter of award from the Uttar Pradesh Expressways Industrial Development Authority for developing the Group 1 of Ganga Expressway greenfield project. The company, in a statement, said it will develop the 129.7-km [...]
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