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Penny stock jumps after it collaborates with DRDO for development of nano composites
The shares of this microcap company jumped around 2 percent in Tuesday’s trading session after collaborating with DRDO, IIT Delhi, and CSIR-NPL for the Development of Nano Composites for EMI Shielding Applications. Price Movement: With a market capitalization of Rs. 839 crores, the shares of Vikas Lifecare Ltd started Tuesday’s trading session on a flatter [...]
Smallcap stock jumps 9% after reporting 70% YoY growth in net profit
The small-cap company gained up to 9 percent after the company’s net profit and revenue increased by around 70 percent and 29 percent, respectively in Q1FY25. With a market capitalization of Rs 15,473.22 crore. The shares of BLS International Services Ltd were trading at Rs 375.80 per share, increasing around 8 percent as compared to [...]
Realty stock jumps 10% after its net profit increases by 268% YoY
In Tuesday’s trading session, the shares of one of India’s leading property developers surged by 10.8 percent to Rs. 1,246.8, after reporting financial results for Q1 FY24-25 with a rise in the net profit of 268.2 percent YoY. With a market capitalisation of Rs. 27,581.4 crore, at 11:02 a.m., the shares of Brigade Enterprises Limited [...]
Vijay Kedia stock jumps 7% after its JV received order worth ₹ 317.60 Cr from Govt of Maharashtra
Vijay Kedia stock engaged in the construction and development of dams, bridges, industrial structures, and other heavy civil engineering and construction jumped 7 percent in the day’s trade after its JV company received a work order worth Rs. 317.60 Crores. Price Action With a market capitalization of Rs. 4,632 Crores, the shares of Patel Engineering [...]
2 Stocks to buy now for an upside of 35%; Are you holding any?
An analyst's target price is a forecasted based on future value of a stock price, reflecting the analyst's perception of a fair market value. This projection considers the company's past performance, as well as its future objectives and strategic plans. Conversely, a lower target price suggests the analyst's belief that the stock is expected to [...]
IT stock jumps 9% after its net profits increases by 194% in Q1
In Tuesday’s trading session, the shares of a leading, end-to-end technology and engineering solutions provider surged by 9.7 percent to Rs. 554.4, after reporting financial results for Q1 FY24-25 with a rise in the net profit of 86.6 percent QoQ and 194 percent YoY. With a market capitalisation of Rs. 2,244.2 crore, at 10:23 a.m., [...]
Stock under ₹ 200 hits 5% upper circuit after receiving an order from Adani Group
The shares of this microcap company locked a 5 percent upper circuit after receiving an order from Adani Group worth over Rs. 2.56 crores. In just six months the stock has delivered more than 300 percent return to its shareholders. Price Movement: With a market capitalization of Rs. 96 crores, the shares of ITCONS E-Solutions [...]
Market leader stocks that hold over 70% of market share to keep on your radar
A market leader is a company that holds the largest market share within a particular sector or industry, and such market leader companies enjoy the highest profitability margins. Market leaders control the market by influencing client loyalty, distribution, price, and other aspects of the market. The market leader typically has a first-mover advantage in a [...]
Hidden Gem: Auto ancillary stock in business of Railway, EV and Renewable energy
The Railway, Electric Vehicle (EV), and Renewable Energy sectors in India are experiencing significant growth, driven by government initiatives, technological advancements, and increasing consumer demand. These sectors are poised to play a crucial role in India's economic and environmental landscape. Listed below is one such Auto-ancillary company that caters for these booming sectors: Autoline Industries [...]
Stock Market Summary: Important updates you need to know about today’s market
Benchmark Index: Nifty closed at 24,056, remaining above 24,000 despite pressure and the benchmark BSE Sensex crashed 2,686 points, or 3.3%, in intraday deals to hit an intraday low of 78,296. While Nifty Midcap 100 and Smallcap 100 fell by 3.55% and 4.57%. Moreover, the India Volatility Index (VIX) experienced a remarkable surge of over [...]
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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
WardWizard Innovations and Mobility posts 12-fold jump in two-wheeler sales at 3,290 units in Nov
Mumbai, Dec 1 (PTI) Electric vehicle maker WardWizard Innovations and Mobility on Wednesday reported nearly a 12-fold jump in its two-wheeler sales at 3,290 units in November, driven by festive season sales and rebound in the business activities. The Vadodara-based company, which markets its electric two-wheelers under the 'Joy e-bike' brand, had sold 255 vehicles [...]
New York fund TFCC buys 46 pc stake in Chennai firm Ramcharan for USD 4.14 bn
Mumbai, Dec 1 (PTI) Chennai-based chemicals distributor Ramcharan Co on Wednesday made history of sorts by bagging a whopping USD 4.14 billion (over Rs 31,000 crore) from the US-based impact fund TFCC International for a 46 per cent equity, valuing it at around USD 9 billion. The deal – the biggest in the domestic chemicals [...]
Ahead of IPO, Anand Rathi Wealth raises Rs 194 cr from anchor investors
New Delhi, Dec 1 (PTI) Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi, on Wednesday said it has raised Rs 194 crore from anchor investors, ahead of its initial share-sale on Thursday. The company has decided to allocate 35.25 lakh equity shares to 12 anchor investors at Rs 550 apiece, valuing [...]
Hero MotoCorp sales drop 41 pc in Nov
New Delhi, Dec 1 (PTI) The country's largest two-wheeler maker Hero MotoCorp on Wednesday reported a 41 per cent drop in total wholesales at 3,49,393 units in November. The company had sold 5,91,091 units in the same month of the previous year, Hero MotoCorp said in a statement. In the domestic market, the company's wholesales [...]
Need mechanism to decide on merit, appropriateness of tel, internet shutdowns: Par panel
New Delhi, Dec 1 (PTI) A parliamentary panel has pulled up the government over the absence of parameters to decide the merit of shutting down the internet during certain times, saying there is no clear-cut definition of what constitutes public emergency and safety.The Standing Committee on Communications and IT, in its report on 'suspension of [...]
Electronics mfg sector’s commitment to mission $300 bn offers great confidence: Vaishnaw
New Delhi, Dec 1 (PTI) The electronics manufacturing industry's commitment and assurance to drive USD 300 billion revenue by 2025-26 offers "great confidence", IT Minister Ashwini Vaishnaw said on Wednesday. Speaking at ‘Azadi Ka Digital Mahotsav’, a week-long event that showcases India's achievements in digital space, Vaishnaw highlighted that the world is now opening up [...]
Need mechanism to decide on merit, appropriateness of tel, internet shutdowns: Par panel
New Delhi, Dec 1 (PTI) A parliamentary panel has pulled up the government over the absence of parameters to decide the merit of shutting down the internet during certain times, saying there is no clear-cut definition of what constitutes public emergency and safety.The Standing Committee on Communications and IT, in its report on 'suspension of [...]
COMMODITY PRICES
Mumbai, Dec 1 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST. COPPER :- COPPER CABEL SCRAP 720.00 COPPER HEAVY SCRAPS 712.00 COPPER ARMATURE (CREDIT) 695.00 COPPER UTENSILS SCRAP 631.00 CC ROD 768.00 BRASS :- BRASS SHEET CUTTING 545.00 BRASS UTENSIL SCRAP 488.00 BRASS HONEY 483.00 ALUMINIUM :- ALUMINIUM UTENSIL SCARPS 176.00 ALUMINIUM EXTRUSION SCRAP 200.00 ALUMINIUM [...]
OILSEEEDS PRICES
Mumbai, Dec 1 (PTI) OILS (per 10 Kgs) G.Nut Raw 1305.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1180.00 Sunflower Exp.Ref. 1280.00 Cottonseed(Refined) 1210.00 Refined Palm Oil 1175.00 Soyabean Ref. 1215.00 Imp.Soyabean Crude - Rapeseed Ref. 1680.00 Rapeseed Exp. 1650.00 Copra white 1650.00 Rice Bran 4-7% FFA - Rice Bran 1190.00 Linseed 1950.00 Castor [...]
Business briefs
*BizzTM raises USD 1.2 mn to expand biz Mumbai, Dec 1 (PTI) E-commerce marketplace BizzTM on Wednesday said it has raised USD 1.2 million (about Rs 8.9 crore) in funding led by US-based early-stage India fund, 2am VC, along with Axilor.The company will use the proceeds to further expand its presence in 100 new cities [...]
HMSI posts 35 pc decline in two-wheeler sales to 2,80,381 units for Nov
Mumbai, Dec 1 (PTI) Honda Motorcycle and Scooter India (HMSI) on Wednesday reported a nearly 35 per cent year-on-year decline in two-wheeler sales to 2,80,381 units for November. Supply-side challenge, season coupled with subdued festive season sales, were among the factors impacting the volumes in November, HMSI said in a statement. The Indian arm of [...]
SBI General Insurance sets up task force faster clearances of claims to rain affected customers
Chennai, Dec 1 (PTI): SBI General Insurance on Wednesday said it has set in motion a standard operating process and established a task force to manage queries and claims on fast-track mode in the wake of the heavy rainfall recorded in several parts of the state. SBI General Insurance urged its customers to stay safe [...]
Over 18.8 mn content pieces ‘actioned’ on Facebook proactively in India during Oct: Meta
New Delhi, Dec 1 (PTI) Social media giant Meta on Wednesday said over 18.8 million content pieces were "actioned" on Facebook across 13 violation categories proactively in India during October. Its photo sharing platform Instagram took action against over 3 million pieces across 12 categories during the month proactively, as per data shared in a [...]
Fairfax sells 3.2 per cent stake in IIFL Finance for Rs 365 cr
New Delhi, Dec 1 (PTI) Canadian billionaire Prem Watsa-backed Fairfax Group on Wednesday divested 3.2 per cent stake in IIFL Finance for Rs 365 crore through an open market transaction. According to bulk deal data available with the BSE, Hamblin Watsa Investment Counsel (HWIC) Asia Fund, an affiliate of Fairfax Financial Holdings, sold 12,165,000 shares of IIFL [...]
Adani Transmission appoints Lisa Caroline MacCallum as additional director
New Delhi, Dec 1 (PTI) Adani Transmission on Wednesday said its board has appointed Lisa Caroline MacCallum as an additional director (independent) from 30th November 2021. The board of directors of the company has, on the recommendation of the Nomination and Remuneration Committee, appointed Lisa Caroline MacCallum as an additional director (Non-Executive, Independent) with effect [...]
Indian cos raise USD 1.34 bn from foreign markets in October; down 34 pc from last year
Mumbai, Dec 1 (PTI) Indian companies raised nearly USD 1.34 billion from foreign markets in October this year, down 34 per cent from the year-ago period, RBI data showed on Wednesday. The domestic firms had raised over USD 2.03 billion from the overseas markets in October 2020. In a break-up, the companies raised as much as [...]
Genesys to prepare 3D map of India’s top-100 cities
New Delhi, Dec 1 (PTI) Technology firm Genesys on Wednesday said it plans to prepare a 3D map of top-100 cities across the country as part of its programme for pan-India mapping, which it will share with users and enterprises on a licence basis. Without sharing the exact timeline to complete the mapping, Genesys Chairman [...]
NHAI borrowings jump over 2-fold to Rs 3.38 lakh cr in 3 yrs
New Delhi, Dec 1 (PTI) Total borrowings of state-owned National Highways Authority of India (NHAI) have increased more than twofold to Rs 3,38,250 crore in three years to March 2021 compared to Rs 1,22,561 crore as of March 2018, Parliament was informed on Wednesday. Replying to a written question in the Rajya Sabha, Road Transport [...]
FSS launches UPI e-voucher to advance financial inclusion
Chennai, Dec 1 (PTI): Financial Software and Systems (FSS) on Wednesday said it has enhanced its unified payment interface (UPI) suite to support e-vouchers to accelerate digital payments adoption in the financially under-served segments. The UPI e-voucher enables customers to transfer funds for a specific purpose in real-time to any mobile number, regardless of whether [...]
Mahindra Logistics, LOGOS announce pact to develop 1.4 mn sqft warehouse facilities in Delhi-NCR
Mumbai, Dec 1 (PTI) Third-party logistics company Mahindra Logistics Ltd (MLL) and Asia-Pacific logistics specialist LOGOS on Wednesday announced a long-term lease agreement to set up 1.4 million square feet (mmsf) warehouse facilities in Delhi-NCR, with one such facility already functional. The transaction represents the country's largest warehousing facility in a single park, both the [...]
Business briefs
*Power substation launched in Jaipur to benefit 4,000 consumers New Delhi, Dec 1 (PTI) Power Finance Corporation on Wednesday said a gas-insulated substation was inaugurated in Jaipur as part of 'Azadi ka Amrit Mahotsav'. India is commemorating 'Azadi ka Amrit Mahotsav', a year-long celebration to mark 75 years of Independence. "The sub-station is built at [...]
India fully committed to timely completion of oil refinery project in Mongolia: President Kovind
New Delhi, Dec 1 (PTI) President Ram Nath Kovind on Wednesday said India is fully committed to the timely completion of an oil refinery project in Mongolia as it will greatly increase its "spiritual" neighbour's energy security.Welcoming a parliamentary delegation from Mongolia to India, he said the two countries share civilisational, historical, spiritual and cultural [...]
Aravali Power Company pays Rs 135 cr interim dividend to NTPC
New Delhi, Dec 1 (PTI) NTPC Limited on Wednesday said Aravali Power Company has paid an amount of Rs 135 crore to the power giant as interim dividend for 2021-22. Aravali Power Company Private Limited (APCPL) is a joint venture company of NTPC, Indraprastha Power Generation Company Limited (IPGCL) and Haryana Power Generation Corporation Limited [...]
BULLION CLOSING
Bengaluru, Dec 1 (PTI) Closing bullion rates on Wednesday Standard gold : (99.5 purity) Rs 49,250 per 10 gram Ornament gold : Rs 4,592 per gram Silverspot : (.999 fineness) Rs 63,700 per kg. PTI DVR APR APR
BGE-VEGETABLES
Bengaluru, Dec 1 (PTI) Following are today's Vegetable rates quoted at Agriculture Produce Marketing Committee (APMC); Rates per quintal. Cauliflower 400-4100, Brinjal 250-6500, Tomato 333-7700, Bitter Gourd 2000-6000, Bottle Gourd 1800-5000, Ash Gourd 700-2500, Green Chilly 120-4400, Banana green 500-3600, Beans 400-10000, Green Ginger 900-5000, Carrot 1000-8000, Cabbage 1000-6800, Ladies Finger 300-6200, Snakeguard 2800-4000, Beetroot [...]
Registrations on e-shram portal cross 10-cr mark
New Delhi, Dec 1 (PTI) The number of registrations on e-shram portal, launched by the labour ministry to create a national database of unorganised workers, crossed the 10-crore mark on Wednesday.On November 30, over 12.18 lakh registrations were done. The states with more than 1 lakh registrations are Uttar Pradesh (2.61 lakh), West Bengal (1.08 [...]
SJVN looks to set up more renewable power projects in UP
New Delhi, Dec 1 (PTI) State-owned power producer SJVN on Wednesday urged the Uttar Pradesh government to allot the company more renewable power projects in the state, after bagging the 75 megawatts (MW) solar project in Jalaun. "A K Singh, director (finance), met Chief Minister of Uttar Pradesh Yogi Adityanath (on Wednesday) and briefed him [...]
Tega Industries IPO fully subscribed within 1 hour; garners 4.67 times subscription on Day 1 of offer
New Delhi, Dec 1 (PTI) The initial public offer of Tega Industries Limited, manufacturer of consumables for the mining industry, was fully subscribed within one hour of opening on Wednesday. It ended the day with 4.67 times subscription. The Rs 619.22-crore IPO received bids for 4,46,62,233 shares against 95,68,636 shares on offer, translating into 4.67 [...]
FAI pegs fertilisers subsidy to record Rs 1.4 lakh cr in FY’22 on rise in global prices
New Delhi, Dec 1 (PTI) The government's fertiliser subsidy is likely to rise to an all-time high of around Rs 1.4 lakh crore during this fiscal year on high international prices of crop nutrients including urea and di-ammonium phosphate (DAP), according to industry body FAI. Addressing its annual seminar, Fertiliser Association of India (FAI) Chairman [...]
Govt has taken several steps to deal with fake news: Union minister Rajeev Chandrasekhar
New Delhi, Dec 1 (PTI) The government on Wednesday said it is well aware of the risk and danger posed by fake news and dissemination of wrong information through social media platforms, and has taken several steps to address the challenges. The steps include setting up of a Fact Check Unit under the Press Information [...]
Raymond’s board approves JK Files & Engineering’s Rs 800-cr IPO
New Delhi, Dec 1 (PTI) Diversified group Raymond Ltd on Wednesday said its board has approved the listing of its subsidiary JK Files & Engineering Ltd (JKFEL), a company that is in the business of auto parts. The initial public offering (IPO) will also comprise an offer-for-sale (OFS) of Rs 800 crore, said the country's [...]
PRICES MUM BULLION CLOSING
Mumbai, Dec 1 (PTI) SILVER SPOT (IN RS PER kg): 62069.00 STANDARD GOLD (99.5) : 47616.00 PURE GOLD (99.9) : 47807.00 --------------------- PTI MUM SVC SHW SHW
Areca, coconut prices
Mangaluru, Dec 1 (PTI) Following are prices of areca and coconut. Areca (per quintal) Old Supari : Rs 49,500 to Rs 52,500 model Rs 51,500 New Supari : Rs 37,500 to Rs 43,500 model Rs 42,000 Koka : Rs 32,500 to Rs 38,000 model Rs 35,000 Coconut [per thousand]: 1st qlty : Rs 20,000 to [...]
Upstox allows IPO applications via WhatsApp
New Delhi, Dec 1 (PTI) Online brokerage Upstox on Wednesday said it will allow investors to invest in initial public offerings (IPOs) and open demat accounts through WhatsApp. Also, the company aims to increase its customer base to 10 million by the end of FY2022 from 7 million currently, Upstox said in [...]
Rationalise direct, indirect tax rates to boost consumption: PHD Chamber
New Delhi, Dec 1 (PTI) Industry body PHDCCI on Wednesday suggested the rationalisation of direct and indirect tax rates to boost consumption in the economy and enhance the tax base. In its pre-Budget recommendations, PHDCCI President Pradeep Multani said refuelling of consumption demand should be the theme of the Budget to have a multiplier effect [...]
NEWSALERT
US fund TFCC buys 46 pc stake in Chennai-based Ramcharan Co for USD 4.14 billion. PTI BEN MR MR
Skoda posts over two-fold rise in sales at 2,196 units in Nov
New Delhi, Dec 1 (PTI) Skoda Auto India on Wednesday reported over two-fold increase in sales at 2,196 units in November 2021, riding on its newly launched SUV Kushaq. The company had sold 1,056 units in the same month last year, Skoda Auto India said in a statement. The company said it delivered around 2,300 [...]
BGE-COMMODITIES
Bengaluru, Dec 1 (PTI) Following are today's commodities prices (All rates in Rs/quintal): Rice Fine 4000-5100: Medium 4200-5600: Jowar 2000-2600: Jaggery cube 4200-4300: Jaggery ball 4800-5000: Coriander Seed 12000-15000: Chilies fine 26000-28000: Potato Big 1500-2000: Medium 1000-1400: Onion Big 1000-2100: Medium 1000-1500: Small 500-1000: Tamarind 9000-10000: Garlic 3000-7000: Horsegram 3600-4200: Wheat 2800-3200 Turmeric 8000-14000: Turdhal [...]
Representation on interest equalisation scheme forwarded to finance ministry: Textile minister
New Delhi, Dec 1 (PTI) The textiles ministry has received representation regarding interest equalisation scheme and that has been forwarded to the finance ministry for appropriate action, Parliament was informed on Wednesday.Minister of State for Textiles Darshana Jardosh in a written reply to the Lok Sabha said regular meetings are held between Department of Commerce [...]
CarDekho opens its first car refurbishment centre at Gurugram, plans to set up 20 such facilities
Mumbai, Dec 1 (PTI) Car trading platform CarDekho on Wednesday announced the opening of its first-ever used car mega refurbishment centre at Gurugram (Haryana) and said it plans to set up 20 such facilities in the country in near future. The new centre, with a capacity to refurbish 2,000 cars per month, will set a benchmark [...]
JMC Projects bags new orders worth Rs 1,795 crore
New Delhi, Dec 1 (PTI) JMC Projects has secured two orders worth Rs 1,795 crore, including water supply projects worth Rs 1,085 crore. Apart from the water supply projects, the company has bagged an order for Buildings & Factories (B&F) projects worth Rs 710 crore in the country, it said in a statement. JMC Projects [...]
Bharat Petroleum Corporation Limited Announces Appointment of Five Independent Directors on Board
Mumbai, Maharashtra, India (NewsVoir) Bharat Petroleum Corporation Limited (BPCL) has announced the appointment of Shri Pradeep Vishambhar Agrawal, Shri Ghanshyam Sher, Dr. (Smt) Aiswarya Biswal, Prof. Bhagwati Prasad Saraswat and Shri Gopal Krishna Agarwal, as Independent Directors on the Board for a period of three years from the date of notification of their appointment or [...]
Punjab will take all steps to become industrial powerhouse of India: Kotli
Chandigarh, Dec 1 (PTI) The Punjab government will take all possible steps to ensure that the state becomes the industrial powerhouse of the country, state's Industries and Commerce Minister Gurkirat Singh Kotli said on Wednesday. “I am very hopeful that India's leading industrial houses with national/international presence will soon make Punjab their home (with [...]
NCLAT rejects Kotak Bank’s plea to set aside insolvency proceedings against MSEL
New Delhi, Dec 1 (PTI) The National Company Law Appellate Tribunal (NCLAT) has dismissed a petition filed by Kotak Mahindra Bank along with a director of debt-ridden McNally Sayaji Engineering Ltd (MSEL) to set aside insolvency proceedings against the manufacturer of mineral processing equipment. A two-member NCLAT bench upheld the orders of the Kolkata bench [...]
Jewellers registered with BIS triples after mandatory hallmarking
Mumbai, Dec 1 (PTI) The number of jewellers registered with the Bureau of Indian Standards (BIS) has nearly tripled to 1,24,034 as of November 15 since gold jewellery hallmarking was made mandatory by the government in mid-June, the Gem & Jewellery Export Promotion Council (GJEPC) said on Wednesday. Jewellers registered with BIS till June 2021 [...]
States debt-to-GDP ratio worryingly higher than FY23 target, says RBI report
Mumbai, Dec 1 (PTI) The combined debt-to-GDP ratio of states is expected to remain at 31 per cent by end-March 2022 which is worryingly higher than the target of 20 per cent to be achieved by 2022-23, according to a RBI report. The Reserve Bank's annual publication titled 'State Finances: A Study of Budgets of [...]
Mahindra Logistics, LOGOS sign pact to develop 1.4 million sqft warehouse facilities
New Delhi, Dec 1 (PTI) Mahindra Logistics Ltd (MLL), a third-party logistics solution provider, and LOGOS have entered into a long-term lease pact for 1.4 million square feet of warehouse facilities in Delhi-NCR. The transaction represents the country's largest warehousing facility in a single park, both the companies said in a statement. "Mahindra Logistics...and LOGOS...have [...]
SC irked over ONGC’s approach to arbitration, asks AG to resolve
New Delhi, Dec 1 (PTI) Terming as “very unfortunate,” the Supreme Court on Wednesday came down heavily on PSU Oil and Natural Gas Commission (ONGC) for “insulting” the arbitrators, appointed by it to decide a commercial dispute, by not paying the fees fixed by them and sought the help of Attorney General to resolve it. [...]
Mumbai airport puts in place necessary measures to implement health ministry’s latest COVID-19 norms
Mumbai, Dec 1 (PTI) The city's Chhatrapati Shivaji Maharaj International Airport (CSMIA) has put in place all necessary measures to implement the health ministry's latest COVID-19 guidelines on international passengers arriving in India, the private airport operator said on Wednesday. This follows the World Health Organization's announcement that Omicron (B.1.1.529) has been classified as a [...]
25 out of 45 warehouse projects in Andhra withdrawn due to unavailability of land: Centre
New Delhi, Dec 1 (PTI) A total of 25 warehouse projects out of 45 that were sanctioned for Andhra Pradesh under the Warehouse Infrastructure Fund have been withdrawn due to unavailability of land at the proposed locations, Parliament was informed on Wednesday. The Warehouse Infrastructure Fund (WIF) set up under NABARD aims to provide loans [...]
D P S Negi assumes charge as member (finance) of Prasar Bharati
New Delhi, Dec 1 (PTI) Senior bureaucrat D P S Negi on Wednesday took over as a member (finance) of public broadcaster Prasar Bharati. Negi, a former Indian Economic Services Officer of the 1985 batch, has been appointed as a member (finance) in the largest public broadcaster of the country, under the Ministry of Information [...]
CollegeDekho Closes Series B Funding Round with USD 35 Million
Marquee Investors like Winter Capital, ETS Strategic Capital, Disrupt ADQ, QIC, Calega and existing investor Man Capital show their trust in CollegeDekho’s business model and strong offerings in higher education Gurugram, Haryana, India (NewsVoir) CollegeDekho, India’s largest college admissions and higher education services platform, closes its Series B funding with Disrupt ADQ and QIC coming [...]
Over 9,000 complaints of cyber frauds received on National Consumer Helpline in FY21: Chandrasekhar
New Delhi, Dec 1 (PTI) Over 9,000 complaints of cyber frauds were received on National Consumer Helpline during the financial year 2020-21, Parliament was informed on Wednesday. As per the information provided by Ministry of Consumer Affairs, a total of 11,713 and 9,002 complaints of cyber frauds were received on National Consumer Helpline during the [...]
Benchmarks recoup losses amid global rebound; RIL, banks shine
Mumbai, Dec 1 (PTI) The Sensex rallied 620 points while the Nifty reclaimed the 17,100-level on Wednesday as investors piled into recently-battered banking, finance and energy counters amid a recovery in global equities despite lingering concerns over the Omicron coronavirus variant. A sharp jump in the rupee and encouraging macroeconomic data further enthused domestic investors, [...]
Cane arrear reaches Rs 4,445 cr in 2020-21 season, maximum in UP: Centre
New Delhi, Dec 1 (PTI) Cane dues to be paid by sugar mills to farmers stood at Rs 4,445 crore during the 2020-21 season (October-September), with maximum arrears in Uttar Pradesh, Parliament was informed on Wednesday. During the 2020-21 season, a total of Rs 92,804 crore was to be paid towards sugarcane price to the [...]
Genesys rolls out programme for 3D mapping of India
New Delhi, Dec 1 (PTI) Technology firm Genesys on Wednesday rolled out a programme for 3D mapping of India which it expects will map every inch of the cities across the country. The company has filed for patents in unique Geocoding for addressing 3D data as well as automated capture of features from 3D Street [...]
TVS Motor Company Registers Sales of 272,693 Units in November 2021
Hosur, Tamil Nadu, India (NewsVoir) TVS Motor Company registered 272,693 units in November 2021 as against sales of 322,709 in the month of November 2020. Two-Wheeler Total two-wheelers registered sales of 257,863 units in November 2021 as against sales of 311,519 units in November 2020. Domestic two-wheeler registered sales of 175,940 units in November 2021 [...]
Bharat Bond ETF third tranche to hit markets on Dec 3 to raise around Rs 5,000 cr
New Delhi, Dec 1 (PTI) The third tranche of Bharat Bond ETF will be launched on December 3 to raise around Rs 5,000 crore to fund growth plans of Central Public Sector Enterprises, Edelweiss Asset Management said on Wednesday.This new fund offer (NFO) will start on December 3, 2021, and end on December 9, 2021. [...]
Nov GST mop up at Rs 1.31 lakh cr; second highest since roll out
New Delhi, Dec 1 (PTI) Goods and Services Tax (GST) collection in November grew 25 per cent to Rs 1.31 lakh crore -- second highest since its implementation -- indicating economic recovery with normalisation of business activity and increased compliance, a finance ministry statement said on Wednesday. This is the fifth month in a row [...]
Rajasthan govt signs 125 MoUs for Rs 69k-cr projects; receives LoIs for over Rs 10k-cr investments
New Delhi, Dec 1 (PTI) The Rajasthan government has signed multiple memorandum of understandings (MoUs) attracting proposed investments worth around Rs 69,000 crore, Rajasthan Industries Minister Shakuntala Rawat said on Wednesday. Besides, various investors have submitted letters of intent (LoIs) for investments totaling worth Rs 10,099 crore, she said speaking at the Invest Rajasthan Roadshow-Exploring [...]
Tata Power Solar gets letter of award for Rs 945 cr project
New Delhi, Nov 30 (PTI) Tata Power Solar has received letter of award (LoA) for a solar and battery storage project worth Rs 945 crore from Solar Energy Corporation of India Ltd (SECI). Under the SECI project, Tata Power Solar Systems Limited will build a 100 MW EPC (engineering procurement construction) solar project along with [...]
NHAI suffers toll loss of Rs 2,731 cr due to farmers protest
New Delhi, Dec 1 (PTI) State-owned National Highways Authority of India suffered a revenue loss of Rs 2,731.32 due to the farmers' protests in Punjab, Haryana and Rajasthan, Parliament was informed on Wednesday. Replying to a written question in the Rajya Sabha, Road Transport and Highways Minister Nitin Gadkari said the protest started affecting toll [...]
Honda Cars India Senior VP resigns
New Delhi, Dec 1 (PTI) Honda Cars India Ltd (HCIL) on Wednesday said its Senior Vice-President and Director, Marketing & Sales Rajesh Goel has resigned citing personal reasons and to pursue interests outside the company. Goel, who has been a part of HCIL since inception, will step down from his position on December 24, 2021, [...]
Maruti Suzuki India reports 9 pc dip in total sales in Nov
New Delhi, Dec 1 (PTI) The country's largest carmaker Maruti Suzuki India on Wednesday reported 9 per cent decline in total sales at 1,39,184 units in November with electronic components shortage impacting production. The company had sold a total of 1,53,223 units in the same month last year, Maruti Suzuki India Ltd (MSIL) said in [...]
IPO rush continues; 10 cos line up public issues worth Rs 10,000 cr in Dec
New Delhi, Dec 1 (PTI) The IPO lane will continue to be busy in December as 10 companies have lined up initial share-sale plans worth more than Rs 10,000 crore, merchant banking sources said on Wednesday. Moreover, the initial public offerings of Star Health and Allied Insurance and Tega Industries are currently open for public [...]
BSNL has given Sept 2022 timeline for pan-India 4G rollout: MoS Telecom
New Delhi, Dec 1 (PTI) State-owned BSNL has given a timeline of September 2022 for rollout of its 4G services across India, and estimated an incremental revenue of about Rs 900 crore in the first year from such rollout, Parliament was informed on Wednesday. Minister of State for Communications Devusinh Chauhan, in a written reply [...]
Number of pedestrians killed in road accidents during 2020 falls to 23,483: Gadkari
New Delhi, Dec 1 (PTI) The number of pedestrians killed in road accidents in India during the calendar year 2020 fell to 23,483, Parliament was informed on Wednesday. Replying to a question in the Rajya Sabha, Minister of Road Transport and Highways Nitin Gadkari said a total of 25,858 pedestrians were killed in road accidents [...]
Lumos Alternate Investment Advisors partners Gruhas to set up Rs 500 cr realty fund
New Delhi, Dec 1 (PTI) Lumos Alternate Investment Advisors plans to raise Rs 500 crore for its maiden real estate fund in partnership with Gruhas Proptech.Lumos Alternate Investment Advisors Pvt Ltd has been founded by Anuranjan Mohnot, former MD and CEO of Amplus Capital Advisors.Gruhas Proptech, promoted by serial entrepreneur Abhijeet Pai and Zerodha's Co-founder Nikhil [...]
MPLADS restored, MPs to get Rs 2 cr for remaining part of 2021-22
New Delhi, Dec 1 (PTI) The government has restored Member of Parliament Local Area Development Scheme (MPLADS) for the remaining part of 2021-21 with release of Rs 2 crore per Member of Parliament in one installment, Parliament was informed on Wednesday. "The Government has approved restoration of MPLADS during the remaining part of the financial [...]
5,554 cr digital transactions logged in FY2020-21: Chandrasekhar
New Delhi, Dec 1 (PTI) Digital payment transactions have witnessed a multifold increase in the last few years, growing to 5,554 crore in FY2020-21 from 1,004 crore in FY2016-17, Parliament was informed on Wednesday. The number of digital transactions stood at 4,683 crore in the ongoing fiscal till mid-November, Minister of State for Electronics and [...]
Guar seed futures rise on fresh bets
New Delhi, Dec 1 (PTI) Guar seed prices on Wednesday rose by Rs 21 to Rs 5,810 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend in spot market. On the National Commodity and Derivatives Exchange, guar seed for December contracts increased by Rs 21, or 0.36 per [...]
Need to resurrect concept of gold bank to monetise physical gold: R Gandhi
Mumbai, Dec 1 (PTI) There is a need to establish a gold bank in the country to help monetise physical gold lying with people, Reserve Bank of India's former deputy governor R Gandhi said on Wednesday. He said the country needs to play along with the Indian psyche of the strong preference for physical gold [...]
Guar gum futures gain on spot demand
New Delhi, Dec 1 (PTI) Guar gum prices on Wednesday gained Rs 33 to Rs 10,254 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 0.32 per cent, or Rs 33, to Rs 10,254 per [...]
Rising demand lifts refined soya oil futures
New Delhi, Dec 1 (PTI) Refined soya oil prices on Wednesday rose by Rs 2 to Rs 1,183 per 10 kg in futures trade as speculators raised their bets. On the National Commodity and Derivatives Exchange, refined soya oil for January delivery moved up by Rs 2, or 0.17 per cent, to Rs 1,183 per [...]
Wolken Software Launches a Cloud-native, Self-Serve SaaS Customer Service Platform, Wolken Care
Bengaluru, Karnataka, India (NewsVoir) • The Self Service customer service solution addresses the self-service market specifically targeting startups and SMBs globally • Equipped with features such as omnichannel support, multilingual database, and no coding platform With the aim to transform the customer service experience of the businesses, Bangalore, Mumbai and US based software company, Wolken [...]
DIRECT EXCHANGE RATES
Mumbai, Dec 1 (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 74.23 75.73 74.17 75.89 EUR/INR 83.51 86.38 83.44 86.55 GBP/INR 98.24 101.42 98.16 101.62 JPY/INR 65.01 67.23 64.96 67.37 [...]
Cloud kitchen player Big Spoon gets USD 2 mn from Grip Invest
Mumbai, Dec 1 (PTI) Cloud kitchens startup Big Spoon has raised USD 2 million in lease financing deal from Grip Invest, its founder Kapil Mathrani said. The startup will use the fund to drive deeper consumer adoption in small towns. Grip is the first to offer asset leasing services to Big Spoon, which operates 80 [...]
Centre, states, auto industry to meet in Goa on Dec 4 to discuss ways to promote EVs
New Delhi, Dec 1 (PTI) Heavy Industries Minister Mahendra Nath Pandey, transport ministers from different states, top officials and industry leaders from the automotive sector will gather at Goa on December 4 and deliberate about ways to promote electric vehicles in the country and attract investments, an official said on Wednesday. The Ministry of Heavy [...]
NHAI borrowings jump over 2-fold to Rs 3.38 lakh cr in 3 yrs
New Delhi, Dec 1 (PTI) Total borrowings of state-owned National Highways Authority of India (NHAI) have increased more than twofold to Rs 3,38,250 crore in three years to March 2021 compared to Rs 1,22,561 crore as of March 2018, Parliament was informed on Wednesday. Replying to a written question in the Rajya Sabha, Road Transport [...]
Crude oil futures surge on spot demand
New Delhi, Dec 1 (PTI) Crude oil prices on Wednesday rose by Rs 250 to Rs 5,146 per barrel as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for December delivery traded higher by Rs 250, or 5.11 per cent, to Rs 5,146 per barrel in 6,497 [...]
Govt examining feasibility of preparing common database of govt scheme beneficiaries
New Delhi, Dec 1 (PTI) The government is examining the feasibility of preparing a common database of families that are eligible for benefits under welfare programmes, to administer the schemes, Parliament was informed on Wednesday. IT and Communication Minister Ashwini Vaishnaw said in a written reply to the Lok Sabha that there is no proposal [...]
adidas Inspires Young Athletes, Delivers an audacious expression of the ‘we over me’ mentality
- Partners with St+Art India Foundation and French artist, Chifumi to revamp the basketball court of St. Andrews High School as a powerful canvas for propagating the message of team spirit - 'We see possibilities, when we come together' MUMBAI, India, Dec. 1, 2021 /PRNewswire/ -- adidas has once again teamed up with St+art India [...]
NEWSALERT
Aviation regulator DGCA postpones resumption of scheduled international flights from Dec 15; effective date to be notified in due course. PTI RAM BAL BAL
Consumer durables makers revenue seen rising 20% this fiscal
Mumbai, Dec 1 (PTI) Driven by electrical appliances makers, the Rs 2 lakh-crore consumer durables sector is set to report a robust 20 per cent revenue growth this fiscal after a flattish run last fiscal, says a report. Revenues of electrical appliances makers are expected to grow twice as fast as white goods makers, forming [...]
PRICES MUM BULLION OPEN
Mumbai, Dec 1 (PTI) SILVER SPOT (IN RS PER kg): 62218.00 STANDARD GOLD (99.5) : 47657.00 PURE GOLD (99.9) : 47849.00 -------------------- PTI MUM SVC SHW SHW
Birla Estates to invest Rs 5500 cr to build housing proj in Mumbai; eyes Rs 10,500 cr sales bookings
New Delhi, Dec 1 (PTI) Realty firm Birla Estates Pvt Ltd will invest around Rs 5,500 crore to develop a luxury housing project in South Mumbai as part of its expansion plan amid rising demand for residential properties, its CEO K T Jithendran said. Birla Estates, which is a 100 per cent wholly-owned subsidiary of [...]
Removed 48,594 content pieces in Oct in India: Google compliance report
New Delhi, Dec 1 (PTI) Google received 24,569 complaints from users and removed 48,594 pieces of content based on those complaints in October, the tech giant said in its monthly transparency report. In addition to reports from users, Google also removed 3,84,509 pieces of content in October as a result of automated detection. Google had [...]
IT spending in India expected to cross USD 100 bn in 2022: Gartner
New Delhi, Dec 1 (PTI) IT spending in India is expected to touch USD 101.8 billion in 2022, up 7 per cent from this year, according to research firm Gartner. India's information technology (IT) spending across areas like communication services, data centre systems, IT services and software is expected to grow 10.8 per cent to [...]
Cred to acquire Happay
New Delhi, Dec 1 (PTI) Fintech firm Cred on Wednesday said it will acquire business expense management platform Happay in a cash and stock deal, valuing Happay at about USD 180 million. The deal, which is expected to be completed in the next few weeks, will see Happay operate as a separate entity. "The acquisition [...]
Sebi asks debenture trustees to disclose investors charter, compliant data on website
Markets regulator SEBI has directed debenture trustees (DTs) to disclose investors charter and data on complaints they received on their websites. The new guidelines will come into effect from January 1, 2022, the Securities and Exchange Board of India (SEBI) said in a circular. The debenture Trustee is a liaison between the issuer company and [...]
Evenflow ties up with AI-based logistics startup Shiprocket
Mumbai, Dec 1 (PTI) Evenflow, which specialises in growing e-commerce brands, has partnered with AI-based logistics startup Shiprocket for supply chain-related issues, a release said on Wednesday. Founded by former Uber executives Utsav Agarwal and Pulkit Chhabra earlier this year, Evenflow aggregates third-party sellers on e-commerce platforms and specialises in growing e-commerce brands from managing inventory, [...]
Tata Motors reports 25% increase in total sales in November
New Delhi, Dec 1 (PTI) Tata Motors said its total sales increased by 25 per cent to 62,192 units in November as compared to the same month last year. The company had dispatched 49,650 units in November 2020. The automaker posted a 21 per cent increase in its domestic wholesales at 58,073 as compared with [...]
IWIL India in partnership with Tech SuperGirl and AWS ID & E brings India’s biggest startup acceleration program – ‘TechXelerate’
NEW DELHI, Dec. 1, 2021 /PRNewswire/ -- Indian Women's Institutional League (IWIL) India is a leading advocate for accelerating and empowering women in academia businesses and entrepreneurs in India. IWIL India, in partnership with Amazon ID & E and Tech SuperGirl has launched one of the nation's largest program, TechXelerate to accelerate women into tech [...]
Impact of Omicron on emerging economies to depend on restrictions, policy support: Moody’s
New Delhi, Dec 1 (PTI) The economic impact of the Omicron variant of COVID-19 on emerging economies will depend on a mix of government restrictions, public comfort with social interactions, and capacity of governments and central banks to provide additional policy support to the private sector, Moody's Investors Service said on Wednesday. The emergence of [...]
IRS officer Vivek Johri takes charge as CBIC Chairman
New Delhi, Dec 1 (PTI) Senior bureaucrat Vivek Johri on Wednesday took charge as the Chairman of the Central Board of Indirect Taxes and Customs (CBIC).Johri, a 1985-batch Indian Revenue Service (Customs and Indirect Taxes) officer, has been a member of the board. He has succeeded M Ajit Kumar, who completed his tenure on November [...]
Royal Enfield ties up with Belstaff for exclusive range of apparel
New Delhi, Dec 1 (PTI) Mid-sized motorcycle maker Royal Enfield on Wednesday said it has joined hands with British brand Belstaff to market an exclusive range of apparel.Launched in 1924, Belstaff is one of the leading British Heritage brands, known worldwide for its high-performance outerwear and jackets.“As we celebrate our 120th anniversary this year, we [...]
Twitter CEO Parag Agrawal to receive $1mn annual salary
New Delhi, Dec 1 (PTI) Parag Agrawal, who has recently been named as the CEO of microblogging platform Twitter, will receive an annual salary of USD 1 million along with other perks and bonuses. The India-born executive - who succeeds Jack Dorsey in this role - served as Twitter's Chief Technology Officer since 2017, and [...]
Ashok Leyland sales slip 2 pc to 10,480 units in Nov
New Delhi, Dec 1 (PTI) Hinduja flagship firm Ashok Leyland on Wednesday reported a 2 per cent decline in total commercial vehicle sales to 10,480 units in November 2021.The company had sold 10,659 units in the same month last year, Ashok Leyland said in a regulatory filing.Domestic sales were down 4 per cent at 9,364 [...]
CollegeDekho raises USD 35 mn funding from QIC, Disrupt ADQ, others
New Delhi, Dec 1 (PTI) CollegeDekho, an online college admissions and higher education services platform, on Wednesday said it has raised USD 35 million (about Rs 260 crore) and will use the funds to further improve its offerings for students and colleges both within the country and abroad. The company raised the fund from Winter [...]
Why Is TORG Going Up?
Here’s Why It Matters More Than You Think Dubai, United Arab Emirates – Business Wire India There is an exciting new development taking place in the world of cryptocurrencies with the launch of the first utilimeme, TORG. The cryptocurrency, which has already got listed on more than twenty centralized exchanges across the world, has a [...]
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