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Transformer stock with growth strong guidance 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. The transformer market is estimated to develop at a CAGR of 4.7 percent between 2024 and 2030, reaching USD 57.8 billion. One of the primary drivers of the power transformer market [...]
Nikhil Kamath stock jumps 5% after it acquired UK based gaming company for ₹ 228 Cr
Gaming stock owned by Nikhil Kamath acquires UK-based Fusebox Games Ltd for Rs.228 crores. The share price of the company gained more than 5 percent after the announcement of the acquisition. What happened Nazara Technologies Limited has acquired 100 percent stake in UK-based Fusebox Games Limited for Rs.228 crore (approximately US$27.2 million) in an all-cash [...]
Stock Market Today: Fund raise, bulk deals and other important updates about today’s market
Equity benchmark indices, the BSE Sensex and NSE Nifty50 closed in the negative territory on Thursday following the Reserve Bank of India's decision to keep the repo rate unchanged at 6.5% for the ninth consecutive meeting. The BSE Sensex declined by 581.79 points, or 0.73%, closing at 78,886.22, while the NSE Nifty50 dropped 180.5 points, [...]
5 Stocks with high dividend yields to watchlist during market crash
Dividends are a way for companies to distribute a portion of their earnings back to the shareholders as a reward for their investment. Dividends can be an important source of income for investors, especially those looking for steady and predictable returns. Any stock that has delivered a Dividend yield of more than 2 is determined [...]
NBFC stock jumps 14% after its net profits increases by 3212% in Q1
The shares of the NBFC reached a 52-week high to Rs.1,218.8 per share after reporting an increase of 3212 percent in net profits year-on-year. Price Movement In Thursday’s trading session, Authum Investment & Infrastructure Ltd's share price reached a 52-week high of Rs.1,218.8 per share from its previous close of Rs.1,073.7 apiece. The share gained [...]
Hidden Gem: Smallcap stock in the business of plastic bottle recycling
The waste management sector in India is a critical and evolving industry, driven by rapid urbanization, population growth, and increasing environmental awareness. As the country generates approximately 62 million tonnes of waste annually, effective waste management has become essential for sustainable development. Listed below is one such waste management stock in India: Ganesha Ecosphere Ltd [...]
EV stock hits 20% upper circuit after reporting 55% YoY increase in net profits
The shares of this microcap company locked a 20 percent upper circuit in Thursday’s trading session after reporting an increase in net profits by 55 percent YoY. In one year, the stock has delivered more than 150 percent return to its shareholders. Price Movement: With a market capitalization of Rs. 343 crores, the shares of [...]
Chemical stock falls 7% after its net profits decreases by 37% QoQ
Chemical stock engaged in the business of manufacture and sale of specialty chemicals, aliphatic amines, and derivatives slumped by 7 percent in the day’s trade upon declaring its Q1FY25 results along with multiple expansion plans. Price Action With a market capitalization of Rs. 7,238 Crores, the shares of Balaji Amines Limited were trading at Rs. [...]
Semiconductor stock to buy for an upside of more than 30%; Do you own it?
The semiconductor industry is a critical pillar of modern technology, with global sales reaching $580 billion in 2022. Driven by increasing demand for electronics, AI, and IoT, the industry is expected to grow at a compound annual growth rate (CAGR) of 8% through 2028, fueling innovation across various sectors. With a market capitalization of Rs [...]
FMCG stock jumps 3% after FII bought stake in the company via bulk deal
In Thursday’s trading session, the shares of a leading manufacturer of prepared ethnic foods surged by nearly 3 percent to Rs. 227.55 on BSE, after foreign investor Dovetail Global Fund PCC bought stake in the company through an open market transaction on NSE. At 02:03 p.m., the shares of ADF Foods Limited were trading in [...]
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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
India’s solar capacity addition jumps over three-fold to 7.4 GW in Jan-Sep
New Delhi, Dec 9 (PTI) The solar energy generation capacity addition rose 335 per cent to 7.4 GW in the January-September period this year from 1.73 GW a year ago, said Mercom India Research."In the first nine months of 2021 (9M 2021), India added over 7.4 gigawatts (GW) of solar, a 335 per cent increase [...]
IRM India Affiliate and NMIMS Centre for International Studies launch Professional Programme in Enterprise Risk Management (ERM)
Students and professionals from across India can register for the dual certification programme and earn globally-recognised designations through IRM's examinations MUMBAI, India, Dec. 9, 2021 /PRNewswire/ -- Institute of Risk Management (IRM), headquartered in the UK, along with its India Affiliate, has partnered with NMIMS, one of India's pioneering education institutions, to offer a Professional [...]
JK Files & Engineering files Rs 800-cr IPO papers
New Delhi, Dec 9 (PTI) JK Files & Engineering Ltd, a company that is in the business of auto parts, has filed preliminary documents with markets regulator Sebi to raise Rs 800 crore through an initial public offering (IPO). The public issue is entirely an offer of sale (OFS) of equity shares to the tune [...]
Telecom industry seeks spectrum at reasonable prices, rationalisation of taxes: VIL CEO
New Delhi, Dec 9 (PTI) To become sustainable in the long run, the telecom industry is seeking adequate spectrums at reasonable prices with easy payment norms, rationalisation of taxes and levies and reduction in burden on the companies due to old litigations, a top official of Vodafone Idea Ltd (VIL) said on Thursday. VIL Managing Director [...]
SABERA 2021 Highlight ESG and SDG Best Practices in India
New Delhi, Delhi, India (NewsVoir) • Dr Bibek Debroy, Chair Economic Advisory Council to PM, compares SABERA’s efforts with that of the Prime Minister making the Padma Awards people-centric • Sanjiv Mehta, Chair, Hindustan Unilever Ltd. (HUL), says that the SABERA trophy reaffirms their belief that what is good for India is good for HUL [...]
Airtel launches ‘Startup Innovation Challenge’ with Invest India
New Delhi, Dec 9 (PTI) Telecom company Bharti Airtel on Thursday announced the launch of 'Airtel India Startup Innovation Challenge' in partnership with Invest India. Under the Startup Innovation Challenge, early-stage technology companies are being invited to demonstrate differentiated solutions in areas such as 5G, Internet of Things (IoT), Cloud Communications, Digital Advertising and Digital Entertainment, Airtel [...]
Data Patterns IPO to open on Dec 14; sets price band at Rs 555-585 per share
New Delhi, Dec 9 (PTI) Data Patterns (India) Ltd, which supplies electronic systems to defence and aerospace sector, on Thursday said it has fixed a price band of Rs 555-585 a share for its Rs 588 crore initial public offering. The initial share-sale will open for public subscription from December 14-16. The [...]
Refined soya oil futures fall on low demand
New Delhi, Dec 9 (PTI) Refined soya oil prices on Thursday fell Rs 5.2 to Rs 1,207 per 10 kg in futures trade as speculators reduced holdings amid subdued demand in spot market. On the National Commodity and Derivatives Exchange, refined soya oil for delivery in December declined by Rs 5.2, or 0.43 per cent, [...]
Guar seed futures rise on fresh bets
New Delhi, Dec 9 (PTI) Guar seed prices on Thursday rose by Rs 54 to Rs 5,880 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at spot market. On the National Commodity and Derivatives Exchange, guar seed for December contracts increased by Rs 54, or 0.93 per [...]
Guar gum futures gain on spot demand
New Delhi, Dec 9 (PTI) Guar gum prices on Thursday gained Rs 209 to Rs 10,540 per five quintal in futures trade as speculators increased their holdings on spot demand. On the National Commodity and Derivatives Exchange, guar gum contracts for December delivery traded higher 2.02 per cent, or Rs 209, to Rs 10,540 per [...]
Cottonseed oil futures fall on soft demand
New Delhi, Dec 9 (PTI) Cottonseed oil cake prices on Thursday declined by Rs 20 to Rs 2,754 per quintal in futures trade as participants reduced their bets tracking a weak trend in spot market. Analysts said sell-off by participants at existing levels amid subdued trend in market mainly weighed on cottonseed oil cake prices. [...]
Inter-ministerial panel reviews strategy to buy lithium mines overseas
New Delhi, Dec 9 (PTI) An inter-ministerial meeting, chaired by power minister R K Singh, discussed the PLI scheme on Advanced Chemistry Cell Battery Storage, and also reviewed the strategy for acquiring lithium mines abroad. According to a statement, officials from Ministry of Mines, Ministry of Coal, Ministry of Heavy industries, Ministry of External Affairs, [...]
Allowing cryptocurrency may erode central bank’s control over money supply: Former RBI Guv
Kolkata, Dec 9 (PTI) Former Reserve Bank of India Governor Duvvuri Subbarao has said the central bank could lose control over money supply and inflation management if cryptocurrency is allowed in the country. Speaking at a webinar organised by the National Stock Exchange (NSE) and New York University (NYU) Stern School of Business, Rao also [...]
Dr. Reddy’s inks pact with Singapore firm to commercialise Trastuzumab biosimilar in select countries
Hyderabad, Dec 9 (PTI): Prestige BioPharma Ltd, a Singapore-based firm and Dr. Reddy's Laboratories Ltd., on Thursday announced that the two companies have entered into a binding agreement for an exclusive partnership for the supply and commercialisation of the former's proposed Trastuzumab biosimilar in select countries in Latin America and Southeast Asia. Prestige BioPharma's Trastuzumab [...]
MOBtexting to become part of BICS Group
- Deal fast-tracks 3m Digital Network's cloud communication platform's ambitions on the global market, accessing BICS' worldwide reach. BANGALORE, India, Dec. 9, 2021 /PRNewswire/ -- MOBtexting, the Communications Platform as a Service (CPaaS) specialist, today announces it has agreed to be acquired by BICS Singapore, a 100% subsidiary of the international communications enabler BICS, for [...]
Karur Vysya Bank to cut base rate, benchmark prime lending rate
New Delhi, Dec 9 (PTI) Private sector lender Karur Vysya Bank (KVB) on Thursday said it will slash its base rate and benchmark prime lending rate to 7.75 per cent and 12.75 per cent, respectively, with effect from December 15, 2021. The lender will cut its base rate by 0.25 per cent to 7.75 per [...]
Pan India Cloud Coffee brand SLAY Coffee announces the launch of India’s First digital Grab & Go Coffee Bar
BANGALORE, India, Dec. 9, 2021 /PRNewswire/ -- India's best rated and fastest growing coffee brand, SLAY Coffee launched India's first digital grab and go coffee bar concept at the MAPIC (formerly Indian Retail Forum) event that concluded in Mumbai yesterday. It plans to launch 100 such Coffee Bars across Tier 1 metro cities in the [...]
Pure Storage Introduces New Top End FlashArray Model, Bringing Power and Scale With Unparalleled Simplicity to the Enterprise
Together, FlashArray//XL and Pure Fusion combine to provide limitless scale with the rapid deployment and flexibility of the cloud BANGALORE, India, Dec. 9, 2021 /PRNewswire/ -- Pure Storage® (NYSE: PSTG), the IT pioneer that delivers storage as-a-service in a multi-cloud world, today announced FlashArray//XL, the newest member of the FlashArray family, designed for mission-critical, platinum [...]
Toshiba Unveils New N300 NAS 18TB Hard Disk Drives Series
TAIPEI and SINGAPORE, Dec. 9, 2021 /PRNewswire/ -- Toshiba Electronic Components Taiwan Corporation ("Toshiba") today announces the massive capacity 18TB[1] addition to its N300 NAS HDD line-up. High growth in data creation is driving demand for higher storage capacities, and work-from-home customers need fast access to data and the ability to archive and share data [...]
PLI scheme in food processing: Parle Products expects 20-25 pc growth in exports
New Delhi, Dec 9 (PTI) Biscuits major Parle Products expects 20-25 per cent growth in exports on the back of the government's production-linked incentive (PLI) scheme in the food processing sector, for which it has received approval, according to a senior company official. The company, which exports its products to over 100 countries globally, feels [...]
Razorpay eyes USD 90 bn TPV by 2022, launches new solutions to enhance payment experience
New Delhi, Dec 9 (PTI) Fintech major Razorpay on Thursday said it has seen strong growth in the number of payments processed on its platform, and it expects its total payment volume (TPV) to touch USD 90 billion by end of next year. The unicorn, which is backed by investors like Tiger Global, Sequoia Capital [...]
First Humanity Foundation, Organised an Event Felicitating Honourable Dr. Bu Abdullah
Mumbai, Maharashtra, India (NewsVoir) First Humanity Foundation held a grand event at JW Marriott, Mumbai. This non-profit foundation felicitated Dr. Bu Abdullah, an Emirati Businessman of par excellence. This event and press meet were affirmatively star-studded. Taking time from the glamour and glitz of Bollywood, many Indian actors managed to involve and address various social [...]
Global power shift with the prick of a needle
Singapore, Dec 9 (360info) Where once the US dominated global trade negotiations, COVID has revealed its grip on intellectual property regulation may be weakening.Twenty years after the HIV/AIDS crisis, the world faces a new pandemic, but a familiar problem. Technology needed to produce life-saving drugs remains fiercely guarded by the Western pharmaceutical companies who developed [...]
7th Dr. MS Swaminathan Award for the Period 2017-2019 Was Awarded to Dr. V Praveen Rao
Hyderabad, Telangana, India – Business Wire India The prestigious 7th Dr. MS Swaminathan Award for the period 2017-2019 was awarded to Dr. V Praveen Rao, the Vice Chancellor of Professor Jayashankar Telangana State Agricultural University. This biennial national award jointly constituted by Retired ICAR Employees Association (RICAREA) and Nuziveedu Seeds Limited (NSL) carries a cash [...]
Clensta raises Rs 20 cr funding from Hem Angels, Venture Catalysts, others
New Delhi, Dec 9 (PTI) Direct-to-Consumer personal and home care products startup Clensta on Thursday said it has raised Rs 20 crore funding from Hem Angels part of Hem Securities Ltd, Venture Catalysts and Inflection Point Ventures. Existing investors N+1 Capital (RBF) and other investors also invested in this series A funding round, Clensta's said [...]
TVS Motor ties up with Grupo Q for Nicaragua, Costa Rica markets
New Delhi, Dec 9 (PTI) TVS Motor Company on Thursday said it has tied up with Grupo Q for Nicaragua and Costa Rica markets, in a bid to further expand its business in Central America. Active Motors SA, a subsidiary of Grupo Q, will support the company with dedicated sales, service, spares and customer relationship [...]
Baleno crosses cumulative sales milestone of 10 lakh units: Maruti Suzuki
New Delhi, Dec 9 (PTI) The country's largest carmaker Maruti Suzuki India on Thursday said its premium hatchback Baleno has crossed the cumulative sales milestone of 10 lakh units. Launched in October 2015 and sold through the company's premium retail chain NEXA, the model had crossed the 5 lakh units cumulative sales in November 2018 [...]
DoT to deactivate extra SIM of subscribers beyond 9 connections
New Delhi, Dec 9 (PTI) The Department of Telecommunications (DoT) has issued an order to re-verify the SIM of subscribers holding beyond nine connections across India, six connections in the case of Jammu and Kashmir, North East and Assam, and to disconnect in case of non-verification. The subscribers will be given the option to choose [...]
FedEx Express-Delhivery strategic alliance becomes operational
US-based FedEx Express on Thursday said that its strategic alliance with domestic logistics firm Delhivery, signed in July this year, has become operational. FedEx Express is an American multinational conglomerate holding company that focuses on transportation, e-commerce and business services. It is the subsidiary of FedEx Corp. Delhivery is an Indian logistics and e-commerce supply [...]
Parablu to strengthen its SaaS offerings through Linode’s Partner Program
BANGALORE, India and SANTA CLARA, Calif., Dec. 9, 2021 /PRNewswire/ -- Parablu, an award-winning provider of secure data management solutions, today announced its participation in Linode's Partner Program. The Linode Partner Program launched in 2020 emphasizes collaboration to help technology partners like Parablu innovate, modernize infrastructure, and deliver digital experiences through Linode's cloud infrastructure. Parablu [...]
Challenges Facing the Saudi Labor Market Due to COVID-19 Reviewed in a Forum Held in Riyadh
RIYADH, Saudi Arabia, Dec. 8, 2021 /PRNewswire/ -- The Social Dialogue Forum's eleventh version, titled "Labor Market in the Light of Corona Pandemic - Effects and Solutions", was launched today in Saudi capital of Riyadh, and was attended by His Excellency the Minister of Human Resources and Social Development in Saudi Arabia, Eng. Ahmed bin [...]
Redline Communications Partners with TEC India to Provide Virtual Fiber Solution for India’s Largest Oil & Gas Company
Redline solutions will be deployed to support 29 remote onshore and offshore operations for Indian government-owned company TORONTO, Dec. 8, 2021 /PRNewswire/ -- Redline Communications Group Inc. ("Redline Communications")(TSX:RDL), a leading provider of mission-critical data infrastructure for remote and harsh environments, announced today that Telephone Electronic Corporation (TEC India), a network and communications system integrator [...]
Terralogic announces strategic partnership with US-based Stellar Cyber, innovator of open XDR
BANGALORE, India, Dec. 8, 2021 /PRNewswire/ -- Leading technology firm Terralogic partners with Stellar Cyber, world's first open XDR (eXtended Detection and Response) platform - the only intelligent, next gen security operations platform. It will bring modern attack protection & remediation to customers in the region. Stellar Cyber is recognized as the leading platform for [...]
Celebrating Relationships With SHAADI BY MARRIOTT BONVOY At The Ritz-Carlton, Bangalore
BANGALORE, India, Dec. 9, 2021 /PRNewswire/ -- A forever promise began at The Ritz-Carlton, Bangalore, again, with an exquisitely curated SHAADI BY MARRIOTT BONVOY wedding showcase. Aptly named 'Celebrating Relationships', the evening revelled in a magnificent coming-together of the crème de la crème of the city, corporate and business honchos along with a selection of [...]
Dr. Reddy’s inks pact with Singapore firm to commercialise Trastuzumab biosimilar in select countries
Hyderabad, Dec 9 (PTI): Prestige BioPharma Ltd, a Singapore-based firm and Dr. Reddy's Laboratories Ltd., on Thursday announced that the two companies have entered into a binding agreement for an exclusive partnership for the supply and commercialisation of the former's proposed Trastuzumab biosimilar in select countries in Latin America and Southeast Asia. Prestige BioPharma's Trastuzumab [...]
Gujarat CM holds roadshow in Dubai ahead of investor summit
Ahmedabad, Dec 8 (PTI) Gujarat Chief Minister Bhupendra Patel on Wednesday met several business leaders of Dubai and visited the UAE pavilion at the 'Dubai Expo' to promote the upcoming Vibrant Gujarat Global Summit (VGGS) and attract foreign direct investment (FDI) in the state, CMO officials said. The CM left for Dubai early in the [...]
Ahead of IPO, MapmyIndia garners Rs 312 cr from anchor investors
New Delhi, Dec 8 (PTI) Digital mapping company MapmyIndia, which powers Apple maps, on Wednesday said it has mobilised Rs 312 crore from anchor investors ahead of its initial share sale that opens for public subscription on Thursday. The company has allotted 30.19 lakh equity shares to 24 anchor investors at Rs 1,033 [...]
Mumbai airport says working with testing labs to explore lowering rapid RT-PCR test charges
Mumbai, Dec 8 (PTI) Adani group-owned Mumbai airport on Wednesday said it is working with testing labs and other partners to explore the possibility of further lowering the charges for rapid RT-PCR test. This comes a day after the Maharashtra government reportedly raised with the central government the issue of high charges for coronavirus testing [...]
Reliance Capital asks creditors to submit claims
New Delhi, Dec 8 (PTI) Reliance Capital on Wednesday asked the creditors of the company to submit their claims with proof by December 20 following initiation of corporate insolvency process against the firm. In an order dated December 6, 2021 of the National Company Law Tribunal, Mumbai (NCLT), corporate insolvency resolution process has been initiated [...]
Piramal Realty ropes in Farhan Akhtar as brand ambassador
New Delhi, Dec 8 (PTI) Piramal Realty, the real estate arm of Piramal Group, has roped in film actor and director Farhan Akhtar as its new brand ambassador.Akhtar has joined Rahul Dravid to be the face for Piramal Realty's portfolio of projects in the Mumbai Metropolitan Region (MMR), a company statement said.“Farhan embodies the authenticity and drive for excellence that [...]
CBDC needs credible data protection law; govt shouldn’t have access to personal spends: D Subbarao
Mumbai, Dec 8 (PTI) Ahead of moves to introduce the Central Bank Digital Currency (CBDC), former Reserve Bank Governor D Subbarao on Wednesday flagged the issue of data privacy and the need for a "credible" data security law to be in place before India goes ahead on its plans. Subbarao, who was at the helm [...]
Stage3 raises Rs 20 crore in pre-Series A round
New Delhi, Dec 8 (PTI) Delhi-based social commerce startup Stage3 on Wednesday said it has raised Rs 20 crore in funding co-led by Inflection Point Ventures and LC Nueva Investment Partners LLP along with Let's Venture and Stanford Angels.Existing investor Blume Venture also participated in pre-series A round.Angel investors including Mensa Brands founder Ananth Narayanan, [...]
Sandeep Kumar Sultania ceases to be chief financial officer of Srei Infrastructure Finance
New Delhi, Dec 8 (PTI) Srei Infrastructure Finance on Wednesday said Sandeep Kumar Sultania has ceased to be the company's chief financial officer (CFO). "Sandeep Kumar Sultania has ceased to be the chief financial officer of the company with effect from close of business hours of December 7, 2021, to take up a new role [...]
Karnataka Higher Education Council to sign MoU with NSE Academy
Bengaluru, Dec 8 (PTI): NSE Academy and Karnataka Higher Education Council on Wednesday said they have decided to enter into an MoU (memorandum of understanding) to provide financial awareness for holistic well-being of college students. According to State's Higher Education Minister C N Ashwath Narayan, NSE Academy has already introduced this program in seven States [...]
Soon, UPI payments can be done through feature phones
Mumbai, Dec 8 (PTI) Crores of feature phone users will soon be able to make digital payments as the Reserve Bank on Wednesday proposed to introduced UPI-based payment products for such handsets. Unified Payments Interface (UPI) has emerged as popular mode of payment through smart phones. India has a large mobile phone consumer base of [...]
Indiabulls Housing Finance’s Rs 1,000-cr public issue of bonds opens Thursday
New Delhi, Dec 8 (PTI) Indiabulls Housing Finance said its public issue of bonds will open on Thursday to raise up to Rs 1,000 crore, the proceeds of which will be utilised to fund its business growth. The issue has a base size of Rs 200 crore with an option to retain oversubscription up to [...]
Maha govt to amend law to charge stamp duty on approved plans of company merger, demerger
Mumbai, Dec 8 (PTI) The Maharashtra Cabinet on Wednesday cleared a proposal to amend the relevant Act to charge stamp duty on approved plans of company merger or demerger under the Insolvency and Bankruptcy Code, 2016.An official statement issued after the weekly cabinet meeting said the government will amend the Maharashtra Stamp Act to facilitate [...]
Trucking marketplace Raaho raises Rs 17.8 cr
Mumbai, Dec 8 (PTI) On-Demand intercity trucking marketplace Raaho has raised a total of Rs 17.8 crore from a set of investors and plans to to utilize the funds to expand its presence pan-India and make the product 100 per cent on-demand, the company said on Wednesday. Raaho raised Rs 5.3 crore in seed fund [...]
Fairfax sells IIFL Finance shares worth Rs 180 cr
New Delhi, Dec 8 (PTI) Canadian billionaire Prem Watsa-backed Fairfax Group on Wednesday offloaded IIFL Finance shares worth over Rs 180 crore through an open market transaction. According to bulk deal data available with NSE, Hamblin Watsa Investment Counsel (HWIC) Asia Fund, an affiliate of Fairfax Financial Holdings, sold 57,76,899 shares of IIFL Finance. [...]
HCL Tech, apoBank to acquire German IT Consulting firm
New Delhi, Dec 8 (PTI) IT firm HCL Technologies and Deutsche Apotheker- und Ärztebank eG (apoBank) - the largest cooperative primary bank in Germany - have signed an agreement to acquire IT consulting company Gesellschaft für Banksysteme GmbH (gbs). Post-closing, HCL Technologies will own 51 per cent while apoBank will own 49 per cent stake [...]
Shriram Properties IPO garners 89 pc subscription on first day
New Delhi, Dec 8 (PTI) The initial public offer of Shriram Properties attracted 89 per cent subscription on the first day of the offer on Wednesday. The quota for the Retail Individual Investors (RIIs) was subscribed 4.85 times. The realty player is the 57th company to come out with an Initial Public Offer (IPO) so [...]
Magenta makes ‘significant’ investment in EV component maker Axiom Energy
Mumbai, Dec 8 (PTI) Integrated EV charging solutions company Magenta on Wednesday said it has made "significant" investment in Hyderabad-based EV component maker Axiom Energy Conversion. Magenta, however, did not disclose the amount of its investment in Axiom, which is aimed at achieving the company's ambition to become an exclusive destination for end-to-end EV solutions. [...]
Trai seeks public views on simplifying process for telecom, broadcast players
New Delhi, Dec 8 (PTI) Telecom and broadcast sector regulator Trai has invited public comments to simplify various processes that the companies need in these verticals for doing their business. The Telecom Regulatory Authority of India (Trai) in its consultation paper on 'Ease of Doing Business in Telecom and Broadcasting Sector' floated on Wednesday has [...]
Output gap may take many years to close, says RBI
Mumbai, Dec 8 (PTI) Admitting that credit growth is "very low" given the size and growth rate of the economy, the Reserve Bank on Wednesday said for both the numbers to match, "the very very wide output gap" has to close. The central bank also clarified that low credit growth does not necessarily mean low [...]
UBL challenges Rs 752 cr CCI penalty before NCLAT
New Delhi, Dec 8 (PTI) Beer maker United Breweries Ltd (UBL) has approached the appellate tribunal NCLAT against Rs 751.8 crore penalty imposed on the company by the fair trade regulator CCI. The Competition Commission of India on September 24, 2021, imposed a fine of Rs 751.8 crore for alleged cartelisation in the sale and [...]
SC agrees to list for hearing PIL alleging duty evasion in exporting iron ore as pellets
New Delhi, Dec 8 (PTI) The Supreme Court on Wednesday agreed to list for hearing the PIL seeking a direction to the CBI to register an FIR and probe the alleged duty evasion by some companies in exporting iron ore in pellet form to China since 2015. A bench comprising Chief Justice N V Ramana [...]
Chinese fertiliser firm sues Sri Lanka for rejecting its consignment
Beijing, Dec 8 (PTI) A Chinese firm has launched an international arbitration against Sri Lanka for rejecting a large consignment of its fertiliser after failing to reach a "constructive agreement" to resolve the issue, official media here reported on Wednesday, in a rare legal action against Beijing’s close ally.A ship loaded with 20,000 tonnes of [...]
Non-life insurance cos gross direct premium rises 5.5 pc to Rs 15,743 cr in Nov
New Delhi, Dec 8 (PTI) The gross direct premium written by non-life insurance companies rose by 5.5 per cent to Rs 15,743.22 crore in November, data from Irdai showed on Wednesday.The 31 non-life insurance companies had written premiums worth Rs 14,919.43 crore in November 2020.Of these, the 24 general insurance companies witnessed a 4.2 per [...]
Bullion rates
Bengaluru, Dec 8 (PTI) Closing bullion rates: Standard gold [99.5 purity] Rs 49,500 per 10 gram; ornamental gold Rs 4,616 per gram; silverspot [.999 fineness] Rs 62,900 per kg. PTI DVR NVG NVG
Government not regulating consumption of coal: Joshi
New Delhi, Dec 8 (PTI) The government is not regulating consumption of coal, Union Minister Pralhad Joshi informed the Lok Sabha on Wednesday. Coal India Ltd (CIL) has provided more coal during the current fiscal year (up to November) in comparison to last year same period, the coal minister said in a written reply to [...]
Negative impact of COVID-19 on Coal India revenue is of Rs 6,054 cr: Joshi
New Delhi, Dec 8 (PTI) The negative impact of COVID-19 on the revenue of Coal India Limited is of Rs 6,054.33 crore and on Singareni Collieries Company Ltd (SCCL) is of Rs 5,921 crore, Parliament was informed on Wednesday. "Coal production was impacted due to COVID-19," Coal Minister Pralhad Joshi said in a reply to [...]
Exponent Energy secures USD 5 million in pre-Series-A funding round
Mumbai, Dec 8 (PTI) Technology start-up Exponent Energy said on Wednesday it has secured USD 5 million in a pre-Series-A round of funding led by existing investor YourNest VC, as it looks to offer a 15-minute rapid charge in the market by early 2022. The latest round of funding also saw the participation of global [...]
Cos revamping employee benefit strategy in view of pandemic, says survey
Mumbai, Dec 8 (PTI) The Covid-19 pandemic has compelled companies in India to revamp their employee benefit strategy mainly due to the war for talent, heightened focus on diversity, equity and inclusion, as well as rising benefit costs, according to a survey. While 68 per cent companies in India offer market competitive benefits, only 43 [...]
MG Motor India to drive in electric vehicle at Rs 10-15 lakh by next fiscal
New Delhi, Dec 8 (PTI) MG Motor India will drive in an electric vehicle priced between Rs 10-15 lakh by the end of the next fiscal to rev up its play in the country's electric mobility space, according to a top company official. The company which currently sells electric SUV ZS EV will launch an [...]
Overarching policy priority now is supporting growth, says RBI Guv
Mumbai, Dec 8 (PTI) Reserve Bank Governor Shaktikanta Das on Wednesday defended the central bank's more-than-anticipated dovish stance wherein the MPC unanimously voted to continue with an accommodative policy, saying "our overarching policy focus and priority now is supporting growth" amid the threat of a third wave of COVID-19 and the legroom a cooling inflation [...]
Ghodawat Consumer Ltd featured in India’s Top 500 Valuable Companies by Business Today
KOLHAPUR, India, Dec. 8, 2021 /PRNewswire/ -- Ghodawat Consumer Ltd. (GCL), part of Sanjay Ghodawat Group, has been featured in India's Top 500 Valuable Companies by Business Today. Since its inception in 2013, GCL has transformed into one of India's fastest-growing FMCG enterprises. As an INR 1,000 crore revenue company, GCL has achieved significant gains [...]
At Gujarat event, Rajasthan attracts investment commitments of Rs 1,05,000 cr
Ahmedabad, Dec 8 (PTI) The Rajasthan government has managed to attract investment commitments worth Rs 1,05,000 crore during its 'Investors Connect Programme' held here in Gujarat on Wednesday as a prelude to the upcoming state-level summit 'Invest Rajasthan'. During their investment roadshow here, the Rajasthan government signed 12 MoUs worth Rs 41,590 crore and signed [...]
Gujarat CM Makes Strong Pitch for Global Investments from India Pavilion
High-level delegation from the State visits EXPO2020 Dubai to promote Vibrant Gujarat Summit 2022 Dubai, United Arab Emirates (NewsVoir) Gujarat Chief Minister Shri Bhupendra Patel visited the India Pavilion at EXPO2020 Dubai today and made a strong pitch to global investors to capitalise on the state’s ease of doing business, conducive policies, robust industrial eco [...]
PeLocal One – Step Payment Platform Launched
Chennai, Tamil Nadu, India (NewsVoir) PeLocal, a Chennai-based digital platform has officially announced the launch of its services to aid vendors and customers with payment management. The platform started to digitize last-mile bills and become an everyday payment app of choice for the households provides an easy and quick one-step payment option to pay multiple [...]
BAJA SAEINDIA 2022 Commences its 15th Edition Virtual Round at Chitkara University
203 entries from 185 Engineering Colleges registered for the Virtual Round of BAJA SAEINDIA 2022 Chandigarh, India (NewsVoir) SAEINDIA, a professional Society of Automotive Engineers, today announced the start of the Virtual Rounds of the 15th edition of much-awaited BAJA SAEINDIA series (Digital Event). This year also, Chitkara University is hosting the Virtual round of [...]
Over 1.26 lakh jewellers registered for gold hallmarking during July-Nov: Centre
New Delhi, Dec 8 (PTI) More than 1.26 lakh jewellers have registered for gold hallmarking since its mandatory implementation from June this year, the government said on Wednesday. Mandatory gold hallmarking, a purity certification of the precious metal, came into force from June 23 in a phased manner. The government has identified 256 districts from [...]
Bangladesh PM Hasina seeks India’s help in promoting green energy
Dhaka, Dec 8 (PTI) Bangladesh Prime Minister Sheikh Hasina on Wednesday sought India's cooperation in promoting hydropower-based green energy involving Nepal and Bhutan for mutual benefit.Prime Minister Hasina said this during talks with Foreign Secretary Harsh Vardhan Shringla who called on her at the premier’s official residence ‘Ganabhaban’ here.During their talks, issues of bilateral cooperation [...]
Rupee slips to near 2-month lows, ends at 75.50 against USD
Mumbai, Dec 8 (PTI) The Indian rupee fell to a near two-month low of 75.50 against the US dollar on Wednesday as RBI's bi-monthly monetary policy decision failed to enthuse forex market participants. Meanwhile, the Reserve Bank left the key policy rate unchanged and retained its accommodative policy stance to support economic growth. At the [...]
Infosys BPM to create 250 Jobs in Ireland, with a new Delivery Center in Waterford
Bengaluru, Dec 8 (PTI) Infosys BPM, the business process management arm of IT major Infosys, on Wednesday announced that it is expanding its presence in Ireland, creating 250 jobs locally with the development of a new delivery centre in Waterford. Infosys BPM started its Ireland operations in Dublin in 2014, delivering service offerings across telecommunications, [...]
OILSEEDS PRICES
Mumbai, Dec 8 (PTI) OILS (per 10 Kgs) G.Nut Raw 1340.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1210.00 Sunflower Exp.Ref. 1290.00 Cottonseed(Refined) 1245.00 Refined Palm Oil 1190.00 Soyabean Ref. 1225.00 Imp.Soyabean Crude - Rapeseed Ref. 1730.00 Rapeseed Exp. 1700.00 Copra white 1700.00 Rice Bran 4-7% FFA - Rice Bran 1210.00 Linseed 2100.00 Castor [...]
COMMODITY PRICES
Mumbai, Dec 8 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST. COPPER :- COPPER CABEL SCRAP 718.00 COPPER HEAVY SCRAPS 709.00 COPPER ARMATURE (CREDIT) 693.00 COPPER UTENSILS SCRAP 631.00 CC ROD 770.00 BRASS :- BRASS SHEET CUTTING 545.00 BRASS UTENSIL SCRAP 485.00 BRASS HONEY 470.00 ALUMINIUM :- ALUMINIUM UTENSIL SCARPS 176.00 ALUMINIUM EXTRUSION SCRAP 200.00 ALUMINIUM [...]
IKEA to launch first small-format city store in Mumbai on Thursday
Mumbai, Dec 8 (PTI) Swedish furniture giant IKEA is set to launch its first small-format city store at Worli here on Thursday. IKEA, which is part of the Ingka Group, had set up its first store in the country in Hyderabad in August 2018, which was followed by a store in Navi Mumbai in December [...]
Low home loan interest rates to aid ongoing recovery of housing sales: Realtors on RBI policy
New Delhi, Dec 8 (PTI) The Reserve Bank of India's (RBI) decision to keep key policy rates unchanged will lead to continuation of low interest rates on home loans and support ongoing recovery of housing demand, according to property developers and consultants. Welcoming the RBI policy, CREDAI President Harshvardhan Patodia said the "RBI's accommodative stance [...]
Need tighter regulations to deal with cybercrimes: IT minister in Lok Sabha
New Delhi, Dec 8 (PTI) There is a need for tighter regulations to deal with cybercrimes, Union Minister for Electronics and Information Technology Ashwini Vaishnaw said on Wednesday. Replying to questions in the Lok Sabha, Vaishnaw underlined the need to have "a lot of discussions and a broader consensus" on bringing "stricter norms" for over-the-top [...]
DIRECT EXCHANGE RATES
Mumbai, Dec 8 (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 74.60 76.10 74.54 76.26 EUR/INR 83.66 86.50 83.60 86.67 GBP/INR 98.32 101.49 98.24 101.69 JPY/INR 65.31 67.53 65.25 67.67 [...]
Launch of USISPF’s Reports on Enhancing India’s Global Value Chain Competitiveness and Shifting GVCs to India
Delhi, India – Business Wire India Today, the US-India Strategic Partnership Forum (USISPF) announced two new reports focused on identifying strategies for India to succeed at becoming a reliable manufacturing hub. The two reports are titled, “Enhancing India’s Global Value Chain Competitiveness” and “Shifting Global Value Chains to India”, outlining ways that Indian can enhance [...]
Sensex zooms 1,016 pts on global cues, RBI boost
Mumbai, Dec 8 (PTI) The Sensex skyrocketed 1,016 points while the Nifty rallied past the 17,400-mark on Wednesday as easing concerns over the Omicron variant and RBI's accommodative policy stance galvanised investor sentiment. Bulls were enthused by a positive trend in global markets amid reports that the new coronavirus strain is unlikely to be more [...]
Power minister approves 23 new inter-state transmission projects worth Rs 15,893 cr
New Delhi, Dec 8 (PTI) Union power minister R K Singh has approved 23 new inter-state transmission system projects worth Rs 15,893 crore. The new inter-state transmission system (ISTS) projects comprise 13 projects with an estimated cost of Rs 14,766 crore to be developed under Tariff Based Competitive Bidding (TBCB) and 10 projects with an [...]
Jindal Steel and Power shares up nearly 4% after increase in steel production
New Delhi, Dec 8 (PTI) Shares of Jindal Steel and Power on Wednesday jumped over 3 per cent after the firm said its steel production increased 10 per cent in November 2021 as compared to the year-ago period. On BSE, the shares rose 3.67 per cent to end at Rs 381.5 apiece. Intra-day, it was [...]
Gridtential Partners with India Battery Maker Luminous Power Technologies to Provide Affordable Residential Power
SANTA CLARA, Calif., Dec. 7, 2021 /PRNewswire/ -- Luminous Power Technologies — a subsidiary of Schneider Electric — today announced a formal evaluation agreement with Gridtential Energy, the inventor of Silicon Joule® bipolar battery technology. The partnership is another milestone in the continued adoption of Silicon Joule in the fast-growth residential energy storage solutions market. [...]
Rajasthan gets Rs 1.94-lakh cr investment commitments from investors for various sectors
Mumbai, Dec 8 (PTI) The Rajasthan government received investment commitments of Rs 1.94 lakh crore from a wide range of investors for sectors including renewable energy, mines and minerals, engineering and pharma, at a roadshow held here on Wednesday. Of this, the state signed memoranda of understanding (MoUs) worth Rs 1,27,459 crore and letters of [...]
Brightcom shares jump nearly 5 pc after acquisition of Vuchi Media
New Delhi, Dec 8 (PTI) Shares of Brightcom Group jumped nearly 5 per cent to hit the upper circuit limit on Wednesday after the company announced the acquisition of Vuchi Media Pvt Ltd. Vuchi Media operates under the brand name of MediaMint. On BSE, the stock surged 4.98 per cent to hit the upper circuit [...]
Axis Bank inks MoU with Kolkata Police, offers special banking services for personnel
Kolkata, Dec 8 (PTI) Leading private sector lender Axis Bank on Wednesday said it signed a memorandum of understanding (MoU) with the Kolkata Police, offering a package with benefits and features under "Power Salute", a salary account designed for the personnel of the force.Under this initiative, Axis Bank will offer personal accidental cover of up [...]
Areca, coconut prices
Mangaluru, Dec 8 (PTI): Following are areca and coconut prices. Areca (per QTL) Old Supari : Rs 48,000 to Rs 52,500 model Rs 51,000 New Supari : Rs 37,500 to Rs 43,500 model Rs 42,000 Koka : Rs 35,000 to Rs 40,000 model Rs 37,500 Coconut [per thousand]: 1st qlty : Rs 20,000 to Rs [...]
Healthium Medtech receives US FDA registration for Sri City manufacturing facility
New Delhi, Dec 8 (PTI) Healthium Medtech on Wednesday said it has received registration approval for its Andhra Pradesh-based manufacturing facility from the US health regulator. The company, which focuses on surgical, post-surgical and chronic care segments, has received registration from the US Food and Drug Administration for its plant in Sri City, Andhra Pradesh. [...]
Large number of mid-market enterprises moving applications to cloud: report
New Delhi, Dec 8 (PTI) A large number of mid-market enterprises are reducing their focus from on-premises business applications and looking at moving applications to the cloud, a report by SAP India and IDC said on Wednesday. The report said Indian mid-market enterprises are embracing the power of digital to be more agile, flexible and [...]
Meta to skill 1 crore small businesses, 2.5 lakh creators in India
Gurugram, Dec 8 (PTI) Meta (formerly Facebook) on Wednesday unveiled a new office in Delhi-NCR - one of its biggest facilities in Asia - and announced plans of skilling one crore small businesses and 2,50,000 creators in the country over the next three years. Spanning 1.3 lakh sq ft, this is Meta's first standalone office [...]
Ghodawat Consumer Ltd. Pledges to be Carbon and Plastic neutral by 2035
KOLHAPUR, India, Dec. 8, 2021 /PRNewswire/ -- As one of the fastest-growing FMCG enterprises in India, Ghodawat Consumer Ltd. (GCL), part of Sanjay Ghodawat Group (SGG), has not only earned the trust of millions through its customer-centric business models but also continues to instill the company with the values of giving back to society. Seated [...]
Hero Electric reports retail sales of over 7k units in Nov
New Delhi, Dec 8 (PTI) Hero Electric on Wednesday said it sold over 7,000 electric two-wheelers in the country last month. The company said it had sold 1,169 units in the corresponding period last year. "At Hero, we have been steering EV (electric vehicle) adoption in India and are witnessing stronger consumer confidence towards electric [...]
PRICES MUM BULLION OPEN
Mumbai, Dec 8 (PTI) SILVER SPOT (IN RS PER kg): 61523.00 STANDARD GOLD (99.5) : 47936.00 PURE GOLD (99.9) : 48129.00 -------------------- PTI MUM SVC SHW SHW
Maran raises in LS issue of 4G, 5G services of BSNL; alleges govt favouring pvt operator
New Delhi, Dec 8 (PTI) DMK MP Dayanidhi Maran on Wednesday engaged in a war of words with BJP members during Question Hour in Lok Sabha when he raised the issue of 4G and 5G services of the BSNL, alleging that the government was favouring a private operator."When the former telecom minister has assured that [...]
Gold rises by Rs 177; silver crashes Rs 1,112
New Delhi, Dec 8 (PTI) Gold prices rose by Rs 177 to Rs 47,267 per 10 grams in the national capital on Wednesday in line with gains in the precious metal in global markets and a fall in the rupee, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs [...]
Golden Appreciation to Dr Mohammed Khan during the 50 th UAE National Day Celebration
While the world is staring at UAE about its 50 th National Day Celebrations, Dr Mohammed Khan is at cloud nine. With brand new recognition from the Government of UAE, Dr Khan is once again on the Red Carpet, this time with absolute pride. President and CEO of Khans Media City, Dubai, Dr Mohammed Khan [...]
Monster.com in Association with Microsoft Launches ‘Velocity’: Virtual Career Fair for Microsoft Certified Cloud Professionals
Bangalore, Karnataka, India (NewsVoir) • An exclusive career fair for Microsoft certified cloud professionals with 1 - 8 years of experience • Velocity VCF will be held from 13-17 December 2021, aiming to bridge the emerging talent gap in India • With over 50 sought-after hiring partners, the career fair aims to provide 400+ job [...]
Cyber security, frauds main concerns with digital currency: RBI
Mumbai, Dec 8 (PTI) As the RBI moves ahead for the launch of the central bank digital currency (CBDC), Governor Shaktikanta Das on Wednesday marked out cyber security and digital frauds as the main challenges in the new system. Deputy Governor T Rabi Sankar said there are two types of CBDCs - wholesale and retail [...]
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