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Realty stock jumps after company sets sales guidance of ₹ 10,000 Cr for FY25
This real estate company has set a target of achieving Rs.10,000 crore in sales for the financial year 2025. It operates in the residential and commercial sectors and has developed projects in the Delhi-NCR region. The company is backed by marquee equity investors like Nomura, HDFC and IFC. What is the news Gurugram-based real estate [...]
Navratna stock jumps after it announces robust results and bags ₹ 528 Cr work order
The shares of this PSU company jumps upto 2 percent in Wednesday's trading session after announcing Q1FY 25 results and receiving Rs. 528 crores procurement order for the university in Haryana. In one year, the stock has delivered more than 250 percent return to its shareholders. Price Movement: With a market capitalization of Rs. 31,455 [...]
Textile stock jumps 12% after company to buyback shares at 30% premium
Textile stock engaged in the manufacturing of drum closures, tubes and scaffolding systems, cotton yarn, knitted and crocheted cotton fabrics and many more jumped 12 percent following Buyback of equity shares at a 30 percent premium from its current price. Price Action With a market capitalization of Rs. 7,925 Crores, the shares of Technocraft Industries [...]
Penny stock jumps 9% after its net profits increases 126% YoY; Sets date for 1:1 bonus issue
The shares of this microcap company surged upto 9 percent in Wednesday's trading session after announcing robust results and record date for 1:1 bonus share. Price Movement: With a market capitalization of Rs. 223 crores, the shares of Sprayking Ltd started Wednesday’s trading session on a higher note at Rs. 42.79 compared to its previous [...]
Ethanol stock jumps 9% after its net profit increases by 122% in Q1
Ethanol stock engaged in manufacturing and supplying ethanol, fructose, sorbitol, and various other industrial chemicals grew by 9 percent in the day’s trade upon posting a 122 percent jump in Net Profits in Q1FY25. Price Action With a market capitalization of Rs. 1,194 Crores, the shares of Gulshan Polyols Limited were trading at Rs. 1,101.30 [...]
Midcap stock jumps 6% after its net profits increases by 740% YoY
Leading cosmetics and fashion stock engaged in beauty, personal care, and fashion products, soared nearly 6 percent to Rs.197.35 per share following an increase in net profits of 740 percent year-on-year. Price Movement The share price of FSN E-Commerce Ventures Ltd (Nykaa) rose 5.76 percent to Rs.197.35 per share on Tuesday’s trading session from its [...]
Chemical stock jumps 8% after it reports 142% QoQ increase in net profits
The shares of this microcap company surged by 8 percent in Wednesday’s trading session after reporting an increase in net profits by 120 percent QoQ. In just six months, the stock has delivered more than a 40 percent return to its shareholders. Price Movement: With a market capitalization of Rs. 258 crores, the shares of [...]
Transformer stocks with PEG ratio less than 1 to add to your watchlist
Transformers stocks in India are primarily represented by companies engaged in the manufacturing of power transformers, which are crucial for electricity transmission and distribution. In India, the transformer stocks sector is viewed as a promising investment opportunity, with a positive outlook driven by favourable market conditions and government support for renewable energy initiatives. The PEG [...]
Smallcap stocks in which mutual fund increased their stake by 7.86% in Q1
Small-cap stocks have the potential to deliver high returns due to the growth opportunities presented by small-cap companies. Mutual funds often favour these firms due to their higher growth rates compared to large-cap companies, leading to potentially greater returns for investors. Listed below are three such small-cap stocks in which Mutual Funds have increased their [...]
Penny stock hits 5% upper circuit after reporting 94% YoY increase in net profits
Textile stock engaged in manufacture and export of white terry towels hit a 5 percent upper circuit to Rs.45.86 per share following an increase in net profits of nearly 94 percent year-on-year. Price Movement The share price of Ashnoor Textile Mills Ltd hit a 5 percent upper circuit to Rs.45.86 per share on Tuesday’s trading [...]
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Top Editor’s Pick
Why Mutual Funds Remain a Popular Choice in 2025
You’re not alone if you’ve been thinking more seriously about where your money goes. With daily expenses rising and long-term goals in sight, it’s only natural to look for ways to grow your savings without constant monitoring. That’s where mutual funds come into the picture. They’ve quietly remained a favourite for many over the years. [...]
Stocks to Buy: 6 Stocks to buy for an upside of 40%
The Indian Benchmark Indices closed in Green on Friday with the Sensex gaining around 218.14 points ending the week at 81,224.75 and the Nifty 50 index gaining around 113.55 points ending the week at 24,863.40. In the last five trading sessions, the Sensex declined by approximately 0.75 percent while the Nifty 50 index declined by [...]
₹2.23 to ₹1,829: NBFC stock turns ₹10,000 to ₹82 Lakhs in just 5 years
During the trading session of Friday, the shares of a registered NBFC with core business operations focused on investing and lending slumped nearly 5 percent to hit an intraday low at Rs. 1,758.1 on BSE. With a market capitalisation of Rs. 31,068 crores, the shares of Authum Investment & Infrastructure Limited opened at Rs. 1,849, [...]
Stocks to Buy: 6 Stocks to buy now for an upside of 50%
The Indian Benchmark Indices closed in red on Friday with the Sensex losing around 230.05 points ending the week at 81,381.36 and the Nifty 50 index losing around 34.20 points ending the week at 24,964.25. In the last five trading sessions, the Sensex declined by approximately 0.73 percent while the Nifty 50 index declined by [...]
₹430 to ₹14,136: Pharma stock turns ₹10,000 to ₹3.29 Lakhs in just 5 years
According to business standards, the Indian pharmaceutical industry is a global powerhouse, projected to reach $130 billion by 2030, growing at over 10% annually. Currently valued at $50 billion, India supplies 20% of the world's generic medicines and accounts for 60% of global vaccine production, cementing its role as the "pharmacy of the world. With [...]
Stocks that may get affected by Israel-Iran war
India is Israel’s 2nd trading partner in Asia and the 9th largest globally. The bilateral trade has been majorly dominated by diamonds and chemicals. However, recent years have seen an increase in trade in areas such as electronic machinery and high-tech products; medical equipment; communications systems, etc. The two nations celebrated 30 years of the [...]
Latest Market News
Investment rebound underpins India’s growth recovery: Report
New Delhi, Dec 16 (PTI) India's growth recovery has been led by capital expenditure push by the government so far, but fiscal constraints might prove to be a challenge going forward in terms of driving investments, global forecasting firm Oxford Economics said on Thursday. It further said structural shifts, such as digitisation and decarbonisation, do [...]
Indiabulls Housing Fin promoter sells 12 pc stake to make it professionally managed firm
New Delhi, Dec 16 (PTI) Sameer Gehlaut, promoter of Indiabulls Housing Finance, on Thursday sold a nearly 12 per cent stake in the firm through promoter companies to make it a fully professionally managed entity."I have sold 11.9 per cent in the company with a view to make the company a fully professionally managed and [...]
Expansion of scope of data protection bill needs careful analysis, deeper debate: Nasscom
New Delhi, Dec 16 (PTI) IT industry body Nasscom on Thursday said a parliamentary panel's recommendations to expand the scope of the data protection bill to cover non-personal data needs careful analysis and deeper debate. The Joint Committee on Personal Data Protection Bill, 2019, headed by BJP MP PP Chaudhary, tabled its report in Parliament [...]
Business briefs
*Practically raises $5 million Mumbai, Dec 16 (PTI) Practically, an experiential learning app aimed at students between class 6-12, on Thursday announced a USD 5 million (about Rs 38 crore) fundraise from UAE's NB Ventures and Almoe Group of Companies, UK's Earsfield Capital, and Ncubate Capital.The funds will be deployed to expand operations in the [...]
EMotorad expands international footprint; launches e-bikes in Japan, Nepal
Mumbai, Dec 16 (PTI) Domestic premium electric bike maker EMotorad has expanded its international footprint with the launch of its e-bikes in Japan and Nepal. The company had earlier entered the UAE market after making a debut in the domestic electric vehicle space. After rolling out its products among Indian and UAE consumers, EMotorad is [...]
PSB strike: Banking operations hit across country on first day
Mumbai, Dec 16 (PTI) Banking operations were affected across the country on Thursday as close to nine lakh employees of public sector banks went on a two-day strike to protest against the government's move to privatise state-owned lenders, unions said. Customers of these public sector banks (PSBs) faced difficulties as services like cash withdrawals, cheque [...]
DoT secretary seeks speedy approval for network rollout permits in states
New Delhi, Dec 16 (PTI) Telecom Secretary K Rajaraman has called for speedy approvals for granting network rollout permissions across the country, and requested secretaries and representatives from states to facilitate the expeditious disposal of applications, an official statement said on Thursday.Rajaraman directed all the DoT field units to conduct monthly meetings with service providers [...]
Logistics firm Enmovil raises Rs 10 cr from Anicut Angel Fund
Mumbai, Dec 16 (PTI) Enmovil Solutions, the Hyderabad based logistics tech start-up, has raised Rs 10 crore in pre-Series-A funding round, led by Anicut Angel Fund, KCT Group, Blackbird Investments and RB Investments. The new capital will be used for boosting innovation to deliver advanced technology solutions for field and yard logistics, the Hyderabad start-up [...]
Trai floats consultation paper to explore regulatory framework for content delivery networks, data centres
New Delhi, Dec 16 (PTI) Telecom regulator Trai on Thursday floated a consultation paper to explore a regulatory framework for data centres, content delivery networks and internet exchanges.Telecom Regulatory Authority of India has observed the growing dominance of certain over-the-top (OTT) and internet service providers, which may lead to discriminatory practices in the industry with [...]
EMotorad expands international footprint; launches motorcycles in Japan, Nepal
Mumbai, Dec 16 (PTI) Domestic premium electric bike maker EMotorad has expanded its international footprint with the launch of its motorcycles in Japan and Nepal. The company had earlier entered the UAE market after making a debut in the domestic electric vehicle space. After rolling out its products among Indian and UAE consumers, EMotorad is [...]
PM Imran Khan inaugurates upgraded Skardu airport to attract international tourists to Gilgit-Baltistan region
Islamabad, Dec 16 (PTI) Pakistan Prime Minister Imran Khan on Thursday formally inaugurated the upgraded airport in Skardu to attract foreign tourists to the strategically located Gilgit-Baltistan region.India maintains that Pakistan has no locus standi on Gilgit-Baltistan and that it has illegally and forcibly occupied the territory.The Ministry of External Affairs had earlier said that [...]
EMotorad expands international footprint; launches E-Bikes in Japan, Nepal
Mumbai, Dec 16 (PTI) Domestic premium electric bike maker EMotorad has expanded its international footprint with the launch of its E-Bikes in Japan and Nepal. The company had earlier entered the UAE market after making a debut in the domestic electric vehicle space. After rolling out its products among Indian and UAE consumers, EMotorad is [...]
Income tax portal: Finmin officials hold review meeting with Infosys chief
New Delhi, Dec 16 (PTI) Revenue Secretary Tarun Bajaj along with senior finance ministry officials on Thursday held a meeting with Infosys Managing Director Salil Parekh to review the performance of the new income tax portal. More than 3.5 crore Income Tax Returns (ITR) have been filed so far for the financial year 2020-21 through [...]
HP Adhesives IPO subscribed 8 times on second day of subscription
New Delhi, Dec 16 (PTI) The initial public offer of HP Adhesives Limited was subscribed eight times on the second day of subscription on Thursday.The company's IPO received bids for 2,03,03,100 shares against 25,28,500 shares on offer, according to NSE data.The category for Retail Individual Investors (RIIs) was subscribed 40.29 times, non institutional investors 1.90 [...]
Expansion of scope of data protection bill needs careful analysis, deeper debate: Nasscom
New Delhi, Dec 16 (PTI) IT industry body Nasscom on Thursday said a parliamentary panel's recommendations to expand the scope of the data protection bill to cover non-personal data needs careful analysis and deeper debate. The Joint Committee on Personal Data Protection Bill, 2019, headed by BJP MP PP Chaudhary, tabled its report in Parliament [...]
Foundational literacy index: West Bengal tops chart, Bihar at bottom in large states category
New Delhi, Dec 16 (PTI) West Bengal topped the chart and Bihar languished at the bottom in the 'large states' category on the 'Index on Foundational Literacy and Numeracy' -- an indicator of literacy among children below 10 years. In the 'small states' category, Kerala grabbed the top spot and Jharkhand was adjudged the worst [...]
Addverb Technologies launches multi-carton picking mobile robot ‘Veloce’
Mumbai, Dec 16 (PTI) Robotics and automation firm Addverb Technologies on Thursday announced the launch of its multi-carton picking mobile robot 'Veloce' at the India Warehousing Show (IWS), which allows 100 per cent higher utilisation of space as compared to the conventional storage. The one-of-its-kind picking robot increases the storage density by higher utilisation of the [...]
Bharat Biotech, Dunc Minh donate 2 lakh Covaxin doses to Vietnam
Hyderabad, Dec 16 (PTI) The Republic of Vietnam will receive 2,00,000 doses of Bharat Biotech’s COVID-19 vaccine, a top official of the company said on Thursday. The announcement was made by Suchitra Ella, Joint Managing Director of Bharat Biotech at a function hosted by Vuong Dinh Hue, President of the National Assembly of the Socialist [...]
FHRAI urges Sebi again to suspend OYO’s IPO process
New Delhi, Dec 16 (PTI) Hospitality industry body FHRAI on Thursday again requested market regulator Sebi to suspend OYO's IPO process, citing non-disclosure of an investigation against the hotel chain for tax evasion, an allegation which the company has strongly denied. In a letter to the chairman of Securities and Exchange Board of India, Federation [...]
Data Patterns IPO subscribed 119.62 times
New Delhi, Dec 16 (PTI) The initial public offer of Data Patterns (India) Limited, which supplies electronic systems to defence and aerospace sector, closed with 119.62 times subscription on Thursday. The IPO on the last day of subscription received bids for 84,89,85,725 shares against 70,97,285 shares on offer, according to the NSE data. The category [...]
Bharat Biotech, Dunc Minh donate 2 lakh Covaxin doses to Vietnam
Hyderabad, Dec 16 (PTI) The Republic of Vietnam will receive 2,00,000 doses of Bharat Biotech’s COVID-19 vaccine, a top official of the company said on Thursday. The announcement was made by Suchitra Ella, Joint Managing Director of Bharat Biotech at a function hosted by Virong Dinh Hue, President of the National Assembly of the Socialist [...]
PVR Pictures CEO pins hope on ‘Spider-Man: No Way Home’, says cinema business will be unstoppable
Mumbai, Dec 16 (PTI) Roaring success of tentpole Hollywood and Bollywood films coupled with regional movies has brought the Indian entertainment business back into action after a long hiatus and ongoing battle with COVID-19 pandemic, believes Kamal Gianchandani, CEO PVR Pictures.For the last two years, the cinema and exhibition industry not only in India but [...]
Govt rejects plea to revise fair raw jute price to Rs 7200 a quintal: IJMA
Kolkata, Dec 16 (PTI) The Centre has turned down the request of the jute mills to revise the raw jute fair price to Rs 7200 per quintal in line with the current domestic and international ruling price, for manufacturing bags to pack foodgrains, IJMA Chairman Raghavendra Gupta said on Thursday.This could lead to a shortfall [...]
MGR-COMML-ARECA-COCONUT-PRICES
Mangaluru, Dec 16 (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 37500 to Rs 43500 model Rs 42000 Koka : Rs 35000 to Rs 40000 model Rs 37500 Coconut [per thousand]: 1st qlty : Rs 20000 to [...]
APM Terminals Pipavav, PRCL begin double-stack rail service to Jodhpur on hub-and-spoke model
Mumbai, Dec 16 (PTI) APM Terminals Pipavav, in collaboration with Pipavav Rail Corporation Ltd (PRCL), has commenced double-stack rail service to Jodhpur via Sanand in Gujarat on a hub-and-spoke model, the company said on Thursday. The initiative is likely to help the trade to connect with their markets quickly and competitively, APM Terminals Pipavav said [...]
Business highlights
New Delhi, Dec 16 (PTI) Following are the top business stories at 1930 hours: DEL46 BIZ-BANK-LD STRIKE Banking services hit as PSU bank employees go on two-day strike New Delhi: Banking operations were impacted across the country on Thursday as lakhs of public sector bank (PSB) employees began their two-day strike to protest against bank [...]
Purplle acquires Indian arm of makeup brand Faces Canada
New Delhi, Dec 16 (PTI) E-commerce firm Purplle, which deals in beauty and personal care products, on Thursday said it has acquired 100 per cent stake in Indian arm of cosmetics and skincare brand Faces Canada. The deal size was not disclosed. The acquisition adds international makeup product offerings to Purplle's portfolio. "With a strong [...]
JSW announces R&R compensation package for its Rs 55,000 crore Paradip steel plant project
Paradip, Dec 16 (PTI) Leading Indian steelmaker JSW has declared a special rehabilitation and resettlement (R&R) compensation package for the would be affected people before going ahead with its plans to set up a Rs 55,000 crore steel plant in Odisha’s Jagatsinghpur district. The R&R compensation package for the project affected people with ration card [...]
Genpact to set up tech centre in Warangal
Hyderabad, Dec 16 (PTI) Global IT Major Genpact will be setting up its facility in Warangal, about 140 kms from here. Genpact CEO, Tiger Tyagarajan and his team met Telangana IT Minister K T Rama Rao here, an official release said on Thursday. Rama Rao expressed happiness over Genpact choosing Warangal to set up their [...]
BLADE India launches helicopter service from Bengaluru to Coorg, Kabini
Mumbai, Dec 16 (PTI) The Indian subsidiary of US-based helicopter transport firm BLADE has launched its scheduled by-the-seat services on Bengaluru-Coorg and Bengaluru-Kabini routes in Karnataka.BLADE first entered the state in December 2020 with its weekend private charter services.With the launch of the services on the two routes, travel time to the two cities from [...]
Banking operations impacted across Maharashtra on first day of strike
Mumbai, Dec 16 (PTI) Banking operations of public sector lenders in Maharashtra were affected on Thursday as 60,000 of their employees joined a two-day nation-wide strike against bank privatisation, unions said. Customers of these public sector banks (PSBs) faced difficulties as services like cash withdrawals, cheque clearances and loan approvals were hit due to bank [...]
Cairn inks pact to sell 1 lakh SCMD gas to Assam Gas Company
Guwahati, Dec 16 (PTI) Cairn Oil and Gas on Thursday announced that it will sell one lakh standard cubic meters per day (SCMD) of natural gas to state-run Assam Gas Company Ltd (AGCL) for distributing it in the state. The two companies have signed an agreement in Guwahati for the gas sale in presence of [...]
Supriya Lifescience IPO fully subscribed within hours of opening;garners 2.33 times subscription
New Delhi, Dec 16 (PTI) The initial public offer of Supriya Lifescience Ltd was fully subscribed within a few hours of opening for subscription on Thursday on the back of a strong response from retail investors. The IPO received bids for 3,38,75,982 shares as against 1,45,28,299 shares on offer, translating into 2.33 times subscription, as [...]
NIPL, Western Union ink pact to boost instant int’l money transfer to domestic bank a/cs
New Delhi, Dec 16 (PTI) The overseas arm of NPCI has inked an agreement with Western Union to bolster real-time money transfer to bank accounts in India from foreign countries.This collaboration will enable customers in India to receive international money transfers in real-time into their bank accounts in the country, Western Union said in a [...]
Business briefs
*Postal Dept releases special stamp to mark 75 years of L&T Construction & Mining biz New Delhi, Dec 16 (PTI) Department of Posts on Thursday released a special commemorative stamp to mark the 75th anniversary of L&T Construction and Mining Machinery business. Larsen & Toubro (L&T) has a legacy of pioneering critical equipment required for [...]
Investments in agri-food tech start-ups jump 97 pc in FY21 to USD 2.1 bn: Report
New Delhi, Dec 16 (PTI) Investments in agri and food tech start-ups rose 97 per cent to USD 2.1 billion during the last financial year, mainly driven by funding in restaurants marketplaces, according to a report. 'India AgriFood Startup-Investment Report' was released on Thursday by venture capital firms AgFunder and Omnivore. "Total investments in agrifoodtech [...]
Flipkart CEO meets Jagan, assures support to farmers, skilling programmes
Amaravati, Dec 16 (PTI): A delegation of e-commerce giant Flipkart led by its CEO Kalyan Krishnamurthy on Thursday met Chief Minister YS Jagan Mohan Reddy and discussed issues related to investment and business opportunities in the state. During the meeting Reddy appealed to the Flipkart delegation to help farmers get better price for their crops [...]
PRICES-BULLION-CLOSE
Mumbai, Dec 16 (PTI) BULLION CLOSING (INCLUSIVE OF OCTROI AND LOCAL CHARGES ) SILVER SPOT (IN RS PER kg) : 61071.00 STANDARD GOLD (99.5) : 48190.00 PURE GOLD (99.9) : 48384.00 (NOTE : SOURCE THE BOMBAY BULLION COMMITTEE) FOR AFP: ( INCLUSIVE OF OCTROI AND LOCAL TAXES) LONDON 1612 1730 (5:30 pm) SILVER SPOT (IN [...]
PRICES MUM BULLION CLOSING
Mumbai, Dec 16 (PTI) SILVER SPOT (IN RS PER kg): 61071.00 STANDARD GOLD (99.5) : 48190.00 PURE GOLD (99.9) : 48384.00 --------------------- PTI MUM SVC SHW SHW
Kia plans to announce EV strategy for Indian market next year
Gurugram, Dec 16 (PTI) South Korean automaker Kia plans to come out with a detailed strategy on electric vehicles for the Indian market next year, a senior company official said on Thursday. The company, which unveiled its all new model -- Carens -- for the Indian market, is considering all aspects related to the electric vehicle [...]
Rupee posts first rise in 7 days, ends 23 paise higher at 76.09 a dollar
Mumbai, Dec 16 (PTI) The rupee on Thursday clocked its first gain in seven sessions, rebounding 23 paise to close at 76.09 against the US dollar as participants took note of weakening of the greenback after US Fed turned hawkish. At the interbank forex market, the local unit opened at 76.31 against the greenback and [...]
Public sector bank employees go on two-day strike; services hit in J’khand
Ranchi, Dec 16 (PTI) Banking operation in Jharkhand was severely affected on Thursday as over 40,000 officers and employees of public sector lenders in the state joined a nationwide strike to protest against the Centre's move to privatise government-owned banks, officials said. Over 3,200 public sector bank branches and most of 3,300 ATMs in the [...]
Rupee posts first rise in 7 days, ends 23 paise higher at 76.09 a dollar
Mumbai, Dec 16 (PTI) The rupee on Thursday clocked its first gain in seven sessions, rebounding 23 paise to close at 76.09 against the US dollar as participants took note of weakening of the greenback after US Fed turned hawkish. At the interbank forex market, the local unit opened at 76.31 against the greenback and [...]
Electric vehicle mkt to see investment of Rs 94,000 cr in next 5 years: Report
New Delhi, Dec 16 (PTI) Electric vehicle market is likely to attract investments of Rs 94,000 crore over the next five years and is expected to generate business opportunities in the real estate sector, according to a joint report by Colliers India and Indospace. The report 'Electric Mobility in Full Gear' mentioned that the electric [...]
Britannia revamps brand Good Day, to add 3 more variants
New Delhi, Dec 16 (PTI) Leading food company Britannia Industries has revamped its largest selling biscuit brand Good Day and as part of that, revealed its new identity. Besides, Britannia is also expanding the product portfolio of its most-penetrated brand Good Day by adding three more variants in the premium segment, said its Managing Director [...]
Shop for Water Purifiers on No Cost EMI and Avail Cashback of up to Rs. 5,000 at the Bajaj Finserv EMI Store
Pune, Maharashtra, India (NewsVoir) Access to clean and pure drinking water is now extremely affordable and convenient, with the Bajaj Finserv EMI Store extending a plethora of exclusive offers on water purifiers across price ranges. The online platform has announced that the best-selling water purifiers from top brands like Paramount can be purchased on easy [...]
Syngene International extends research collaboration with Amgen till 2026
New Delhi, Dec 16 (PTI) Integrated research, development and manufacturing services firm Syngene International on Thursday announced an extension of its multi-discipline research collaboration with Amgen Inc, one of the world's leading biotechnology companies, till 2026.The collaboration of Syngene -- which serves global pharmaceutical, biotechnology, nutrition, animal health, consumer goods and speciality chemical sectors -- [...]
Hon’ble Allahabad High Court Quashed Allegations Made Against SAYA Gold Avenue
Ghaziabad, Uttar Pradesh, India (NewsVoir) In reference to the Writ petition no 59863 of 2015, (Petitioner: Sun Tower Residents Welfare Association and Respondent: Ghaziabad Development Authority, Uttar Pradesh, SAYA Gold Avenue and Ors) the petitioner had alleged the respondents for not legally conducting the construction of the Indirapuram’s landmark residential project SAYA Gold Avenue. After [...]
CareEdge (CARE Risk Solutions P Ltd.) Partners with TigerGraph to Build Customer Analytics and Fraud Solutions with Graph Database Technology
TigerGraph’s Capabilities Allow CareEdge Risk Solutions to Run Real-Time Deep Link Analytics Across Massive Datasets, Delivering New Insights Faster and More Accurately New Delhi, Delhi, India – Business Wire India TigerGraph, provider of the leading graph analytics platform, today announced that it will be delivering new analytical capabilities for CareEdge Risk Solutions to develop the [...]
Govt may come out with some more reforms in mining sector ‘very shortly’: Joshi
New Delhi, Dec 16 (PTI) Coal and Mines Minister Pralhad Joshi on Thursday said the government might come out with some more reforms in the mining sector "very shortly". Joshi said that with the time several amendments have been made in rules concerning the mining sector as well and the mines ministry will continue to [...]
FGD system installation underway for nearly 60GW capacity of NTPC
New Delhi, Dec 16 (PTI) Flue Gas Desulphurisation (FGD) system to control pollution is installed for 1340 MW coal-fired thermal power capacity of NTPC while the work in underway at 38 plants with around 60GW capacity, Parliament was informed on Thursday. Total FGD commissioned capacity of NTPC so far is 1,340 MW, Power Minister R [...]
It’s No Vehicle Day for Hindustan Zinc
Udaipur, Rajasthan, India – Business Wire India • CEO and all employees either walked, rode their bikes, took public transit, shared rickshaw, or carpool with their co-workers to get to work • As part of ESG commitment, on Energy Conservation Day, the company spread awareness on reducing carbon footprint and promoting energy conservation in a [...]
Cryptocurrencies a challenge for emerging markets, regulation needed: IMF chief economist
New Delhi, Dec 16 (PTI) International Monetary Fund (IMF) Chief Economist Gita Gopinath has made a strong case for regulating cryptocurrencies, saying it will always be a challenge to ban them as they operate from offshore exchanges. Gopinath also suggested a global policy and co-ordinated action for regulating cryptocurrencies. [...]
Yes Bank plans to raise funds via various instruments; to seek shareholders’ nod next week
Yes bank is about to seek its shareholder’s approval for raising funds using various instruments..It closed at a price of 13.40 today, down 2.69% from its previous close.Deposits have increased by 30%, showing that it is regaining customers’ trust. Yes Bank plans to raise funds through various instruments however, it has not specified how much [...]
Wabtec Wins TISS-Leapvault Award for Best Skill Development Program
MUMBAI, India, Dec. 15, 2021 /PRNewswire/ -- Wabtec Corporation (NYSE: WAB), a leading technology supplier for the freight and transit rail industries, announced today its locomotive plant in Marhowrah, Bihar was recognized for the Best Skill Development Program at the Tata Institute of Social Science (TISS)-Leapvault CLO Awards India. The award honors the investment Wabtec [...]
Anil Agarwal is the only Indian Philanthropist to join The Giving Pledge in 2021
- Vedanta Chairman commits 75% of family wealth towards philanthropy and social good - Initiative by Bill Gates, Melinda French Gates & Warren Buffet has added 14 New Signatories globally NEW DELHI and MUMBAI, India, Dec. 16, 2021 /PRNewswire/ -- Vedanta Chairman Anil Agarwal is the only Indian to become part of The Giving Pledge [...]
Haryana Chief Minister Inaugurates Integrated Command and Control Center (ICCC) of Karnal Smart City
Chennai, Tamil Nadu, India (NewsVoir) • With the inauguration of the Integrated Command and Control Center, the key component of the Karnal Smart City project, a slew of smart traffic management systems go live Mr. Manohar Lal Khattar, Chief Minister of Haryana, inaugurated the Integrated Command and Control Centre (ICCC), the ‘nerve centre’ and a [...]
More than 50 percent of FPOs are Potentially Viable and Efficient: MD, SFAC
New Delhi, Delhi, India (NewsVoir) Small Farmers’ Agri-business Consortium (SFAC) has informed that more than 50% Farmers' Producer Organisation (FPOs) promoted by SFAC under various government programs are potentially viable and efficient while some others are in nascent stages of development. It is expected that given the right eco-system support, specially infusion of capital in [...]
FSS and CSB bank to open 1,000 Smart Cash franchisees in rural areas
Chennai, Dec 16 (PTI): FSS (Financial Software and Systems), leading provider of integrated payment products on Thursday announced plans to open 1,000 Smart Cash franchisees in semi-urban and rural areas, by tying up with private sector CSB bank. "Under the aegis of this partnership, CSB bank and FSS plan to open 1,000 Smart Cash franchisees [...]
COMMODITY PRICES
Mumbai, Dec 16 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST. COPPER :- COPPER CABEL SCRAP 720.00 COPPER HEAVY SCRAPS 710.00 COPPER ARMATURE (CREDIT) 690.00 COPPER UTENSILS SCRAP 631.00 CC ROD 768.00 BRASS :- BRASS SHEET CUTTING 536.00 BRASS UTENSIL SCRAP 472.00 BRASS HONEY 465.00 ALUMINIUM :- ALUMINIUM UTENSIL SCARPS 176.00 ALUMINIUM EXTRUSION SCRAP 200.00 ALUMINIUM [...]
OILSEEDS PRICES
Mumbai, Dec 16 (PTI) OILS (per 10 Kgs) G.Nut Raw 1310.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1170.00 Sunflower Exp.Ref. 1260.00 Cottonseed(Refined) 1195.00 Refined Palm Oil 1155.00 Soyabean Ref. 1185.00 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 [...]
Mars Petcare India to invest Rs 500 cr towards expansion of Hyderabad factory
New Delhi, Dec 16 (PTI) Leading petfood company Mars Petcare India on Thursday announced to invest Rs 500 crore for the expansion of its Hyderabad petfood factory, to meet the rising domestic demand and exports to the Asian markets. Mars Petcare, which owns popular brands – Pedigree, Whiskas, IAMS and Temptations, has signed a memorandum [...]
Sebi asks merchant bankers to disclose investor charter, complaint data for InvITs pvt placement
New Delhi, Dec 16 (PTI) Sebi on Thursday asked merchant bankers to disclose investor charter as well as data pertaining to complaints they received on their websites for private placement of units by infrastructure investment trusts (InvITs) that are proposed to be listed. The new guidelines will come into effect from January [...]
Digital identity platform Bureau raises $12 mn led by Quona
Mumbai, Dec 16 (PTI) Bureau, the digital identity verification and fraud protection platform, has raised USD 12 million in series-A funding round led by Quona Capital with participation from Commerce Ventures and Okta Identity. This funding round also had participation from as strategic angels like Mark Britto of Paypal, and Bobby Mehta of ex-Transunion fame, [...]
Sensex snaps 4-session slide amid firm global cues; IT stocks shine
Mumbai, Dec 16 (PTI) Equity indices eked out modest gains on Thursday after a four-session losing streak, in tandem with an upmove in global markets despite a hawkish tilt by the US Federal Reserve. A rebounding rupee also bolstered sentiment, though unabated selling by foreign institutional investors capped the upside, traders said. After a choppy [...]
DIRECT EXCHANGE RATES
Mumbai, Dec 16 (PTI) FOLLOWING ARE THE DIRECT RATES OF EXCHANGE (DPE) AS ANNOUNCED BY THE STATE BANK OF INDIA HERE. ( ALL RATES IN RUPEES PER UNIT ). CURRENCY TTBUY TTSEL BILLBUY TTSEL CODE USD/INR 75.50 77.00 75.44 77.16 EUR/INR 84.64 87.52 84.57 87.69 GBP/INR 99.51 102.65 99.43 102.85 JPY/INR 65.72 67.91 65.66 68.04 [...]
MONEY-MARKET-OPERATIONS
Mumbai, Dec 16, (PTI) Money Market Operations as on DEC 15, 2021 (Amount in crore, Rate in Per cent) VOLUME Weighted MONEY MARKET (ONE LEG) Average Rate Range A. Overnight Segment (I+II+III+IV) 4,74,597.16 3.44 2.00-3.70 I. Call Money 10,161.77 3.33 2.00-3.60 II. Triparty Repo 3,61,204.40 3.45 3.30-3.63 III. Market Repo 1,03,230.99 3.41 2.00-3.70 IV. Repo [...]
PRICES MUM BULLION OPEN
Mumbai, Dec 16 (PTI) OPENING RATES SILVER SPOT (IN RS PER kg): 61074.00 STANDARD GOLD (99.5) : 48220.00 PURE GOLD (99.9) : 48414.00 -------------------- PTI MUM SVC SHW SHW
Tide to hire over 600 tech professionals by 2026
Mumbai, Dec 16 (PTI) The UK's business financial platform Tide on Thursday said it is planning to hire over 600 tech professionals in India by the end of 2026. This drive, which constitutes nearly 60 per cent of the company's total hiring, stems from Tide's expansion strategy to boost its local presence in India, its [...]
Power discoms owe gencos more than Rs 1.56 lakh cr: Power min
New Delhi, Dec 16 (PTI) Total outstanding dues owed by power distribution utilities or discoms to generation firms (gencos) are estimated to be more than Rs 1.56 lakh crore, Parliament was informed on Thursday. "Discoms have not been able to pay the generation companies for the power procured, and the outstanding payments to generation companies [...]
LIC warns of legal action over misuse of its logo on social media
New Delhi, Dec 16 (PTI) Insurance behemoth Life Insurance Corporation of India (LIC) on Thursday said it will take legal action against unscrupulous entities making unauthorised use of its logo on social media platforms to attract customers. In its caution notice, LIC has also asked the public not to fall prey to proposals of such [...]
Tata Motors’ bus brand Starbus crosses 1 lakh units cumulative sales mark
New Delhi, Dec 16 (PTI) Homegrown auto major Tata Motors on Thursday said its bus brand Starbus has crossed the 1 lakh units cumulative sales milestone. The Starbus platform is available in varied configurations to suit a host of applications like staff and school transportation. It is also available as an electric bus and has [...]
MTR Foods forays into fresh Idli and Dosa batter category
MTR Foods forays into fresh Idli and Dosa batter category Bengaluru, Dec 16 (PTI) MTR Foods Pvt. Ltd, on Thursday announced its foray into the fresh Idli and Dosa batter category with the launch of MTR Minute Fresh. The Minute Fresh range has been developed on the basis of MTR's extensive knowledge and legacy in [...]
MSN Laboratories receives tentative approval for generic version of Cangrelor
New Delhi, Dec 16 (PTI) Drug firm MSN Laboratories on Thursday said it has received tentative approval for its generic version of Cangrelor, used in patients undergoing coronary angioplasty to reduce risk of blood clots and heart attack, from the US health regulator. The approval by the US Food and Drug Administration (USFDA) comes close [...]
Insufficient stocks at plants in Apr-Nov due to rise in power demand, heavy rains: R K Singh
New Delhi, Dec 16 (PTI) Power plants could not maintain sufficient coal stocks during April-November this year due to rise in electricity demand, heavy monsoon rains which continued till first week of October and rise in imported dry fuel price, Parliament was informed on Thursday. "During April-Nov, 2021, power plants were not able to maintain [...]
QuickShift launches same-day delivery service QS-Rapid in Delhi-NCR
Mumbai, Dec 16 (PTI) Expanding its countrywide presence, omnichannel fulfilment services provider QuickShift on Tuesday said it has launched its same-day delivery service QS-Rapid in Delhi-NCR. With this, the company will cater to the consumers' growing needs by ensuring all deliveries across the Delhi-NCR region are done within the same day, it said. The service [...]
USFDA inspection of co’s US plant completed successfully: Torrent Pharmaceuticals
New Delhi, Dec 16 (PTI) Torrent Pharmaceuticals Ltd on Thursday said its manufacturing facility at Levittown, Pennsylvania in the US has successfully completed inspection by the USFDA. The plant was inspected by USFDA (United States Food and Drug Administration) between December 6 and December 15, 2021. At the end of the inspection, no 'Form 483' [...]
Business briefs
*70 cos adopt ICICI Bank's payment & collection platform Mumbai, Dec 16 (PTI) Private sector lender ICICI Bank on Thursday said 70 corporates have signed up on its platform that offers instant payments and collections to or from their channel partners.The platform was launched last year.The platform, which also includes financing solutions for distributors, has [...]
Zydus Cadila gets orphan drug designation from USFDA for antimalarial compound
New Delhi, Dec 16 (PTI) Pharmaceutical firm Zydus Cadila on Thursday said its antimalarial compound ‘ZY19489’, which is currently under development with Medicines for Malaria Venture (MMV), has received 'orphan drug designation' from the US Food and Drug Administration.The orphan drug designation provides eligibility for certain development incentives, including tax credits for qualified clinical testing, [...]
Mahindra Electric Mobility launches passenger electric three-wheeler Treo in Maharashtra
Mumbai, Dec 16 (PTI) Mahindra Group's electric vehicle arm Mahindra Electric Mobility on Thursday launched its passenger electric three-wheeler Treo in Maharashtra, priced at Rs 2.09 Lakh (ex-showroom, Mumbai). The prices include post-FAME-II, state and early-bird subsidies, according to the company. Mahindra Treo commanding a 67 per cent market share in the electric three-wheeler space, [...]
Banking services take a hit in TN following strike call by employee unions
Chennai, Dec 16 (PTI): Banking services like clearing of cheques and other transactions in Tamil Nadu were largely hit following the two-day strike call by the employees' union protesting against the Centre's move towards privatisation of public sector banks. Section of bank employees, representing the All India Bank Employees Union wearing black badges, staged a [...]
Crude oil futures surge on spot demand
New Delhi, Dec 16 (PTI) Crude oil prices on Thursday rose by Rs 45 to Rs 5,444 per barrel as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 45, or 0.83 per cent, to Rs 5,444 per barrel in 3,466 [...]
Bangladesh to import defence items from India under USD 500 mn LoC
Bangladesh will soon import defence related items from India under the LoC of USD 500 mn.President Ram Nath Kovind, during his three-day visit to Bangladesh, discussed several issues of mutual interest and bilateral cooperation with Bangladesh’s top leadership.Under this LoC, several items are being identified and fast-tracked. Exim Bank had entered into an agreement with [...]
Private sector invests Rs 15,164.25 cr in road construction till Nov this fiscal
New Delhi, Dec 16 (PTI) Private sector investment in road construction till November this financial year stood at Rs 15,164.25 crore, Parliament was informed on Thursday.In a written reply to the Lok Sabha, Road Transport and Highways Minister Nitin Gadkari said private sector investment in road construction in 2020-21 and 2019-20 was Rs 12,475.53 crore [...]
Adda247 acquires UPSC prep platform StudyIQ Education for Rs 150 cr
New Delhi, Dec 16 (PTI) Edtech firm Adda247 on Thursday said it has acquired UPSC-focused edtech platform StudyIQ Education for about USD 20 million (around Rs 150 crore) in a cash and stock deal. StudyIQ education claims to have an organic subscriber base of over 11 million and gets close to 100 million views a [...]
Paranjape group gets Rs 105 cr investment in 2 housing projects
New Delhi, Dec 16 (PTI) Walton Street BlackSoil Real Estate Debt Fund II (WSBREDF–II) will invest Rs 105 crore in two under construction mid-income housing projects of Pune based realty firm Paranjape Group. The fund has a target corpus of Rs 500 crore and a green-shoe option of up to Rs 250 crore. Both these [...]
CMS Info Systems sets IPO price band at Rs 205-216/share
New Delhi, Dec 16 (PTI) Cash management company CMS Info Systems on Thursday said it has fixed a price band of Rs 205-216 a share for its Rs 1,100-crore initial public offering (IPO) that opens next week. The initial share-sale will open for public subscription on December 21 and close on December 23.The bidding for [...]
BENGALURU SUSTAINABILITY CONCLAVE
Hon’ble Governor of Karnataka Shri Thawar Chand Gehlot inaugurates the Bengaluru Sustainability Conclave and releases the Sustainable Development Report (SDR) 2021 Bengaluru, 16th December, 2021: The Sustainable Development Report (SDR) 2021 was released by the Hon’ble Governor of Karnataka Shri Thawar Chand Gehlot and discussed by the dignitaries of Bengaluru on Wednesday, 15th December, 2021 [...]
Smartr Logistics plans to expand operations to 100 cities by 2022
Mumbai, Dec 26 (PTI) Smartr Logistics on Thursday said it is looking to more than double its presence to 100 cities with 150 smart service centres by next year.Besides, the company also aims to onboard 1,500 full-time employees in 2022 from 600 at present, it said in a release.Many of these employees will receive attractive [...]
CreditAccess Grameen adds nearly 60,000 new borrowers in Nov; says biz now back to pre-Covid levels
New Delhi, Dec 16 (PTI) Microfinance lender CreditAccess Grameen on Thursday said it added nearly 60,000 new borrowers in November and the company's business is now back to the pre-COVID-19 levels with Rs 1,505-crore disbursements during the month. The company said the "consolidated disbursements during the month have come back to the pre-COVID-19 levels driven [...]
Oxford University to get Poonawala vaccine research facility; to get GBP 50 million funding
London, Dec 16 (PTI) The University of Oxford has announced plans to establish a new Poonawalla Vaccines Research Building with a funding commitment of GBP 50 million from India’s Serum Life Sciences. Serum Life Sciences is wholly-owned by the Poonawalla family, owners of the Adar Poonawalla-led Serum Institute of India, and the proposed research facility [...]
EaseMyTrip acquires YoloBus for undisclosed amount
New Delhi, Dec 16 (PTI) Online travel platform EaseMyTrip on Thursday said it is acquiring YoloBus, a next-generation premium intercity mobility platform, for an undisclosed amount to expand its non-air business.The acquisition includes the brand name of YoloBus, its technology, team, running business and data expertise, the company said in a statement.EaseMyTrip will leverage YoloBus' [...]
Diagnostic industry may log 55 pc revenue growth in FY22: Report
National level diagnostic firms might witness a 55% jump in topline growth and 800 basis points increase in operating margins.The prices of diagnostic tests are expected to stabilize at current levels.The industry saw a whopping 74% jump between April-September.Testing is expected to increase due to the spread of the Omicron variant, causing an increase in [...]
BEML, RITES ink pact, to jointly bid for Metro systems, export of rolling stock
Bengaluru, Dec 16 (PTI) BEML Limited has signed a Memorandum of Understanding (MoU) with RITES Limited, a leading transport infrastructure consultancy and engineering company, to explore and jointly bid for opportunities in the fields of Metro systems and export of rolling stock. As part of the MoU, RITES will provide expertise in design, engineering, marketing [...]
PSU bank strike: Banking services in Rajasthan hit
Jaipur, Dec 16 (PTI) Banking services were hit in Rajasthan on Thursday where employees and officers of public sector banks went on a two-day strike to protest against the central government's move of privatisation. The bank employees held a demonstration outside SBI office near Ambedkar circle here. “Transaction worth Rs 20,000 crore will be affected [...]
TVS Motor Company, JMD, Sudarshan Venu and Dr Markus Schramm, Head of BMW Motorrad, Announce the Expansion of Their Cooperation Agreement for Future Technologies and Electric Vehicles
Hosur, Tamil Nadu, India: Business Wire India TVS Motor Company and BMW Motorrad today announced that they are extending and expanding their long-term partnership with the joint development of new platforms and future technologies, including Electric Vehicles. Based on this decision, TVS Motor Company’s scope will include the design and development of future BMW Motorrad [...]
RCF Kapurthala rolls out 1st 3-phase ethernet-based electric train
New Delhi, Dec 16 (PTI) State-run engineering firm BHEL on Thursday said the first 3-phase Ethernet-based AC electric train equipped with the company's manufactured electrics has rolled out from Rail Coach Factory, Kapurthala. The 12-coach Mainline Electric Multiple Unit (MEMU) train is equipped with a 3-phase IGBT-based converter and inverter designed and developed by BHEL, [...]
Sri Lanka’s economy shrinks by 1.5 per cent in third quarter
Colombo, Dec 16 (PTI) Sri Lanka's beleaguered economy is estimated to have contracted by 1.5 per cent in the third quarter this year due to the COVID-19-induced lockdown and a slew of import restrictions imposed by the government, the country’s statistics office said on Thursday. “The economic growth rate for the third quarter of 2021 [...]
Samunnati inks co-lending pact with IndusInd Bank for FPOs
New Delhi, Dec 16 (PTI) Agritech firm Samunnati on Thursday said it has entered into a co-lending agreement with IndusInd Bank to expand credit accessibility and market linkages for farmer producer organizations (FPOs) across the country. In November 2020, the Reserve Bank of India (RBI) had issued guidelines on co-lending models between [...]
Rising demand lifts refined soya oil futures
New Delhi, Dec 16 (PTI) Refined soya oil prices on Thursday rose by Rs 17.6 to Rs 1,188.1 per 10 kg in futures trade as speculators raised their bets. On the National Commodity and Derivatives Exchange, refined soya oil for December delivery moved up by Rs 17.6, or 1.5 per cent, to Rs 1,188.1 per [...]
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