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Consumer durable stock jumps 4% after company to consider share buyback
The shares of India's largest manufacturer of cookware, kitchen, and home appliances rose nearly 5% after the company announced that its board will consider a proposal for a share buyback at the upcoming board meeting. At 12:40 p.m., TTK Prestige Ltd shares were trading at ₹940.55 per share, up 3.94% on the Bombay Stock Exchange [...]
Navratna stock jumps 3% after it received an order worth ₹ 739.07 Cr from Himachal Pradesh
The shares of this Navratna firm climbed around 3 percent to an intraday high of Rs 626.65 apiece from its previous close, after it received an order worth over Rs 739.07 crores from Himachal Pradesh State Electricity Board Limited (HPSEBL) for the improvement of distribution infrastructure. Share price movement: With the market capitalization of Rail [...]
Penny stock hits 10% upper circuit after it reports 577% QoQ increase in net profits
Shares of this leading NBFC stock hit a 10 percent upper circuit, reaching a 52-week high after reporting net profit growth of 576 percent in the June quarter. Over the past three years, the share price has delivered nearly 1000 percent returns. Price Movement In Tuesday's trading session, Luharuka Media & Infra Ltd. shares opened [...]
Infra stock jumps 3% after receiving an order worth ₹ 1,237 Cr for residential colony in New Delhi
The shares of this smallcap company jumped around 3 percent in Tuesday’s trading session after receiving an order worth Rs. 1,237 crores. In one year, the shares have delivered more than 180 percent returns to its shareholders. Price Movemnet: With a market capitalization of Rs. 9,008 crores, the shares of ITD Cementation India Ltd started [...]
Pharma stock jumps 8% after it reports 554% QoQ increase in net profits
Small-cap pharma stock reached a 52-week high after reporting an increase in net profit of 554 percent quarterly. The share price has generated returns of more than 114 percent in a year. Price Movement In Tuesday's trading session, the share price of Strides Pharma Science Ltd. surged to a 52-week high of Rs.1,120.3 per share, [...]
Defence stock hits 5% upper circuit after receiving an order worth ₹ 3 Cr for supply of LT Panels
The shares of this smallcap company locked a 5 percent upper circuit after receiving an order worth 2.99 crores for the supply of LT Panels. In one year, the stock has delivered a multibagger return of 280 percent to its shareholders. Price Movement: With a market capitalization of Rs. 3,299 crores, the shares of Marine [...]
Infra stock jumps after receiving work orders from Kalpataru Projects and L&T
Multibagger stock engaged in providing engineering, procurement, and construction (EPC) services, operation & maintenance, and many more jumped 2 percent in the day’s trade upon receiving two work orders worth ~Rs. 2.95 Crores. Price Action With a market capitalization of Rs. 461 Crores, the shares of RBM Infracon Limited were trading at Rs. 457 per [...]
Jindal group stock jumps 9% after its net profits increased by 70% in Q1
The shares of the manufacturer of iron and steel pipes gained up to 9 percent after the company’s net profit and revenue increased by 70 percent and 12 percent YoY, respectively in Q1FY25. With a market capitalization of Rs 20,523.42 crore, the shares of Jindal Saw Limited were trading at Rs 641.85 per share, increasing [...]
Jai Balaji Industries and 4 other stocks in which promoters increased their holding in Q1
When a promoter starts increasing his holding in the company, it is typically viewed positively as it indicates increased confidence from the promoter in the company's performance and future prospects, which can be a reassuring sign for investors. Listed below are some of the stocks in which the company's promoters have increased their holding in [...]
Smallcap stock jumps 9% after it declares 1:1 bonus issue; Announces ₹ 300 Cr fund raise
The share price of this small-cap stock broker surged around 9 percent to an intraday high of Rs 665.30 apiece from its previous close after announcing a fund raise of Rs 300 crores and also approving a bonus equity share in the ratio of 1:1. Share price movement: The stocks of Monarch Networth Capital [...]
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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
Rajasthan cuts petrol rate by Rs 4/L, diesel by Rs 5/L
Jaipur, Nov 16 (PTI) Amid increasing demands to reduce taxes after reduction in excise duty on petrol and diesel by the Centre, the Congress government in Rajasthan on Tuesday night announced slashing VAT to make petrol and diesel cheaper by Rs 4 per litre and Rs 5 per litre, respectively, from midnight. This will result [...]
Sebi revises guidelines for processing of draft schemes
New Delhi, Nov 16 (PTI) Markets regulator on Tuesday revised guidelines for processing of draft schemes filed with the stock exchanges."These amendments are aimed at ensuring that the recognised stock exchanges refer draft schemes to Sebi only upon being fully convinced that the listed entity is in compliance with Sebi Act, Rules, Regulations and circulars," [...]
Three day Bengaluru Tech Summit to see participation from over 30 countries
Bengaluru, Nov 16 (PTI) Vice President Venkaiah Naidu on Wednesday will inaugurate Bengaluru Tech Summit 2021, Karnataka government's flagship three- days long technology event. Naftali Bennett, the Prime Minister of Israel and Scott Morrison, the Prime Minister of Australia, will attend the event virtually. Karnataka Governor Thaawarchand Gehlot, Union Minister of Railways, Communications and Electronics [...]
New IT Rules ensure online safety and dignity of women users: Centre tells Delhi HC
New Delhi, Nov 16 (PTI) The Centre has told the Delhi High Court that the new Information Technology (IT) Rules ensure online safety and dignity of women users and give a framework to deal with content, including fake content, which results in heinous crimes. The Centre said that there was a growing concern regarding the [...]
Fitch keeps India’s rating unchanged, says risks to medium term growth narrowing
New Delhi, Nov 16 (PTI) Fitch Ratings on Tuesday said the risks to India's medium-term growth outlook are narrowing with rapid economic recovery from the pandemic and easing financial sector pressures as it kept the sovereign rating unchanged at 'BBB-' -- the lowest investment grade rating-- with a negative outlook. The rating balances a still-strong [...]
Ahead of IPO, Go Fashion raises Rs 456 cr from anchor investors
New Delhi, Nov 16 (PTI) Go Fashion (India) Ltd, which owns women's wear brand Go Colors, on Tuesday said it has raised a little over Rs 456 crore from anchor investors ahead of its IPO roll-out on Wednesday. The company has decided to allocate a total of 66,10,492 equity shares to 33 anchor investors at [...]
Rajasthan cuts VAT to reduce fuel prices by up to Rs 5 per litre
Jaipur, Nov 16 (PTI) The Rajasthan government on Tuesday decided to reduce petrol price by Rs 4 per litre and diesel rate by Rs 5 per litre from midnight. "In the cabinet meeting today, it was unanimously decided to reduce the rate of VAT on petrol and diesel. After this, the rates will be reduced [...]
Closely monitoring business models, strategies of banks: RBI Governor
Mumbai, Nov 16 (PTI) The central bank is closely monitoring the business models and strategies of banks, Reserve Bank of India Governor Shaktikanta Das said on Tuesday.He, however, clarified that the central bank's move is not intended at interfering in banks' commercial decisions, but it will red flag lenders if there is any risk building [...]
Home First Finance Co India plans to raise up to Rs 99 cr via bonds
New Delhi, Nov 16 (PTI) Home First Finance Company India on Tuesday said it is planning to raise up to Rs 99 crore by issuing bonds on a private placement basis. "A meeting of the committee of directors of the company is scheduled to be held on Monday, November 22, 2021," the non-banking financial company [...]
India’s competition law enough to deal with new-age concern in digital mkts: CCI member
New Delhi, Nov 16 (PTI) The Indian competition law is broad enough to deal with new-age competition concerns in digital markets, member of Competition Commission of India Sangeeta Verma said on Tuesday. She added that the Indian law has extra-territorial jurisdiction and can deal with market practices anywhere in the world if it has anti-competitive [...]
OILSEEDS PRICES
Mumbai, Nov 16 (PTI) OILS (per 10 Kgs) G.Nut Raw 1380.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1190.00 Sunflower Exp.Ref. 1280.00 Cottonseed(Refined) 1260.00 Refined Palm Oil 1183.00 Soyabean Ref. 1238.00 Imp.Soyabean Crude - Rapeseed Ref. 1710.00 Rapeseed Exp. 1680.00 Copra white 1670.00 Rice Bran 4-7% FFA - Rice Bran 1190.00 Linseed 1680.00 Castor [...]
Fisheries business incubator launched in Gurugram at Rs 3.23 cr cost
New Delhi, Nov 16 (PTI) Union Minister of Fisheries, Animal Husbandry and Dairying Parshottam Rupala on Tuesday launched the fisheries business incubator in Gurugram at a cost of Rs 3.23 crore to promote startups in this sector.Rupala inaugurated the business incubator, known as LINAC- NCDC Fisheries Business Incubation Centre (LlFlC), at Gurugram in Haryana costing [...]
Voice start-up Skit to hire 1,000 persons in a year
Mumbai, Nov 16 (PTI) Skit, a voice automation start-up, on Tuesday said it is targeting to hire 1,000 persons by the end of 2022 as it sees business growth. The company, which has raised USD 30 million in venture funding so far, currently employs 200 persons. The new hires will be across diverse roles and [...]
Sharad Pawar urges sugar mills to diversify, cut costs
New Delhi, Nov 16 (PTI) Former Union agriculture minister Sharad Pawar on Tuesday asked sugar mills to diversify into other products like ethanol and CNG to deal with surplus production of sweetener as well as modernise their manufacturing plants. He also urged sugar mills to improve the system of marketing and reduce manufacturing costs to [...]
Sugarcane arrears in UP down to Rs 3,895 cr in 2020-21 from Rs 10,667 cr in 2017: Govt
New Delhi, Nov 16 (PTI) Food and Consumer Affairs Minister Piyush Goyal on Tuesday said cane arrears in Uttar Pradesh have reduced to Rs 3,895 crore from Rs 10,661 crore in 2017. Goyal, who is the Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution and Textiles, virtually inaugurated 50th Convocation Ceremony of [...]
Hotel and Restaurant Association condemns composite fee structure in Delhi govt’s new excise policy
New Delhi, Nov 16 (PTI) Hotel and Restaurant Association of Northern India on Tuesday condemned the composite fee structure introduced in the new excise policy of Delhi saying many 5-star hotels in the Capital desire to declassify or get the rating changed to 4-star due to the proposed fee of Rs 1 crore per annum. [...]
Teli kick-starts construction work of 200-bed ESIC hospital in Guwahati
New Delhi, Nov 16 (PTI) Union Minister Rameshwar Teli on Tuesday kick-started the construction work at the Employees State Insurance Corporation (ESIC) Model Hospital complex at Guwahati in Assam. "Minister of State for Labour & Employment and Petroleum and Natural Gas...Rameswar Teli inspected and kick-started construction work at ESIC Model Hospital complex at Guwahati in [...]
TN CM launches state-PSU’s hi-tech cement brand ‘Valimai’
Chennai, Nov 16 (PTI) Chief Minister M K Stalin on Tuesday launched Tamil Nadu Cements Corporation's new cement brand 'Valimai' which denoted strength and said it would control rise in price of cement and aid the growth of construction sector. Stalin launched TANCEM's new, high quality product 'Valimai' cement on behalf of the Industries Department [...]
NPE targets, GST correction may push cellphone production by $15 bn: ICEA
New Delhi, Nov 16 (PTI) Electronics manufacturing target of USD 400 billion set under the government policy is difficult to achieve within the set timeline but, correction in goods and services tax may push mobile phone production by up to USD 15 billion by 2025, industry body ICEA said Tuesday.The National Electronics Policy 2019 had [...]
Rs 75 cr black income detected after raids on real estate groups in AP, Telangana: CBDT
New Delhi, Nov 16 (PTI) The Income Tax Department detected undisclosed income of Rs 75 crore after raiding three different real estate business groups based in Andhra Pradesh and Telangana, the CBDT said on Tuesday. The searches were carried out on November 10 at 30 premises in Vishakhapatnam, Hyderabad, Vizianagaram and Srikakulam. "The search operation has [...]
Genleap raises Rs 60 cr from marquee investors in seed round
New Delhi, Nov 16 (PTI) Edtech platform Genleap on Tuesday said it has raised Rs 60 crore from marquee investors in the seed round. Investors who participated in the funding round in their personal capacity include Super(set) start up studio co-founder Vivek Vaidya, Stono River Partners LLC managing member Kevin Donlon, Embassy REIT CEO Mike [...]
Sebi proposes market making mechanism in corporate bond mkt
New Delhi, Nov 17 (PTI) Sebi on Tuesday proposed a market making mechanism in the corporate bond market in a bid to enhance liquidity in the secondary market for such bonds. Market makers are entities that quote both a buy and a sell price for corporate bonds in order to create liquidity in the secondary [...]
Dow Jones Sustainability Indices 2021: Hindalco emerges as world’s most sustainable aluminium co
New Delhi, Nov 16 (PTI) Hindalco Industries Ltd, the metals flagship of Aditya Birla Group, on Tuesday said it has once again emerged as the world's most sustainable aluminium company in the Dow Jones Sustainability Indices 2021. Hindalco "has achieved the No. 1 rank in the aluminium industry for its sustainability performance in the 2021 [...]
Coforge files for US IPO
New Delhi, Nov 16 (PTI) IT firm Coforge on Tuesday said it has filed papers with the US Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of American Depositary Shares representing its equity shares. Coforge, which was formerly NIIT Technologies, is promoted by Barings Private Equity (PE) Asia and is listed [...]
SBI, U GRO Capital to disburse up to Rs 500 cr to MSMEs by March 22 as co-lenders
New Delhi, Nov 16 (PTI) NBFC company U GRO Capital on Tuesday said State Bank of India (SBI) has partnered with it for a co-lending arrangement to disburse up to Rs 500 crore to micro, small and medium enterprises (MSMEs) by the end of this fiscal. SBI has onboarded U GRO Capital as its first [...]
2.46 lakh physical payment devices installed in smaller towns under Payment Infra Development Fund
Mumbai, Nov 16 (PTI) Nearly 2.46 lakh physical payment acceptance devices were installed in smaller towns under the Payments Infrastructure Development Fund till September, the Reserve Bank of India said in a statement.Physical devices include Point of Sale (PoS), mPoS (mobile PoS), GPRS (General Packet Radio Service), and PSTN (Public Switched Telephone Network).The Payments Infrastructure [...]
BIZ-HIGHLIGHTS
New Delhi, Nov 16 (PTI) Following are the top business stories at 1946 hours: DEL39 BIZ-PM-LD CAG Will find solutions only when we recognise problems: PM on audit New Delhi: Exhorting auditors to adopt strong and scientific auditing practices, Prime Minister Narendra Modi said that audit is an important tool for value addition which helps [...]
Das wants banks to be investment-ready as recovery gathers momentum
Mumbai, Nov 16 (PTI) Reserve Bank Governor Shaktikanta Das on Tuesday asked banks to be investment-ready when the private Capex cycle picks up, as the pandemic-battered economy is on a strong recovery path that will demand huge investments to sustain in the long run. Crediting the faster-than-expected recovery primarily to the improved vaccination pace and [...]
Byju’s introduces period leaves for staff, trainees
New Delhi, Nov 16 (PTI) Edtech major Byju's on Tuesday said it has updated its employee leave policy wherein staff and trainees will be able to work in a flexible manner, including availing period and child care leaves. This new policy is a significant step in prioritising employees' happiness, work-life integration, flexibility, and workplace sensitivity, [...]
Demand for intercity bus travel rises 10 pc, supply jumps 28 pc during Diwali this year: Report
Mumbai, Nov 16 (PTI) The demand for intercity bus travel increased 10 per cent while the supply jumped 28 per cent year-on-year during Diwali this year, as the pandemic-hit travel industry bounces back on the back of increased vaccination and people booking for holidays, according to a report released on Tuesday. During Dussehra also, which was [...]
Invesco has Filed a Case with the NCLT Against Zee
On Thursday, shares of Zee Entertainment Enterprises plummeted after two of its shareholders, Invesco and OFI Global China, filed a complaint with the National Company Law Tribunal (NCLT) for neglecting to call an extraordinary general meeting. The Invesco Developing Markets Fund filed a complaint with the National Company Law Tribunal (NCLT) on Wednesday, accusing Zee [...]
Gold Rate in India Falls to a 6-Month Low, Silver still Struggles
Today Gold Rate in India rose little, reflecting rising global rates. December gold futures on the MCX were up 0.38 per cent, hovering near six-month lows of Rs. 45,942 per gramme, while silver rates were up 0.18 per cent to Rs. 58,490 per kg. Gold fell 0.4 per cent in the previous session, while silver fell 3.5 [...]
NCLT Allows Future Group to hold EGMs to Sell Businesses to Reliance
The Mumbai Bench of the National Company Law Tribunal or NCLT allows Future Group companies to attend extraordinary general meetings (EGMs) of their shareholders and creditors to seek approval for the sale of assets to Reliance Retail Ltd. The NCLT urged the corporation to set an appropriate date for the meeting and provided its approval [...]
Insider Trading: SEBI bans Infosys and Wipro Employee from Trading
In a case of insider trading, India's securities regulator, SEBI, has barred an Infosys employee and a Wipro employee from trading on stock exchanges. During the corporate announcement of Infosys' Vanguard Deal in July 2020, the regulator named two workers, Ramit Chaudhri and Keyur Maniar, in an order dated September 27. SEBI punished two Infosys [...]
Zee Entertainment Shares Under Pressure as SEBI bans 5 persons in insider trading case
Zee Entertainment shares fell more than 2% in the morning session of September 28 after the SEBI confirmed a ban on five people in the Zee Entertainment insider trading case. SEBI reported on September 27 that five people have been disqualified from the securities market for engaging in insider trading in Zee Entertainment Enterprises' stock. [...]
Reliance Retail Enters the Online Cosmetics Market Ahead of Nykaa’s IPO
According to a report in business daily, Reliance Retail enters the online cosmetics market and also wants to establish a chain of offline stores to sell personal care and cosmetics products. Experts believe the initiative has the potential to disrupt the personal care and cosmetics market. Reliance Retail has been steadily expanding its e-commerce business. [...]
Upcoming IPOs From Oct-Nov may Raise up to Rs 45,000 Crore
Synopsis: In October-November, a flurry of initial public offerings (IPOs) are planned, with at least 30 upcoming IPOs aiming to raise more than Rs 45,000 crore. The successful IPO of food delivery firm Zomato, which was over 38 times oversubscribed, prompted several new-age Internet businesses to issue primary share offerings. According to Jyoti Roy, deputy [...]
Evergrande’s EV Unit is not sure if it will be able to pay its debts
China’s Evergrande's EV unit admits there's no guarantee it'll be able to pay its debts: Evergrande NEV's stock fell as high as 25.8% on Friday, increasing the company's year-to-date losses to 93%. Evergrande NEV, which hasn't mass built a single automobile, was valued at more than Ford Motor Co. and General Motors Co. in February [...]
Freshworks IPO Makes Over 500 Employees Crorepatis, 70 of Them Under the Age of 30 yrs
During the Covid-19 epidemic, which has seen SaaS IPOs in the US perform brilliantly the recent one being Freshworks IPO, producing billionaires overnight, the Nasdaq listing comes amid rising digitisation and growing acceptance of remote work. When asked by a reporter, Freshworks founder and CEO Girish Mathrubootham a few months back if he, too, would [...]
Oyo IPO Size Set to be $1.2 Billion, Company Plans to File DRHP Next Week
Oyo, a hospitality company, is planning to raise up to USD 1.2 billion (about Rs 8,000 crore) through an IPO and is anticipated to file the draft red herring prospectus with the Securities and Exchange Board of India (SEBI) next week, according to sources. According to them, Oyo has hired investment banks such as JPMorgan, [...]
China’s Evergrande to make Bond Coupon Payments & End Market Panic
China's Evergrande shares listed in Hong Kong plunged as much as 7% on Tuesday, after falling 10% the day before, on fears that the company's $305 billion in debt would cause massive losses in China's financial system if it collapsed. The Hong Kong stock exchange was closed for a holiday on Wednesday. According to Refinitiv [...]
Adani Enterprises To Invest $20 Billion in Renewable Energy
Synopsis: Over the next ten years, Adani Enterprises to invest $20 billion (Rs 1.48 trillion) in the renewable energy supply chain, which includes electricity generation, manufacturing, transmission, and distribution. Adani Enterprises to invest $20 billion announcement comes after Reliance Industries Ltd (RIL) announced in June that it will invest Rs 75,000 crores in clean power over [...]
Evergrande Is China’s ‘Lehman Moment’ says Uday Kotak
Uday Kotak Says “Evergrande seems like China’s Lehman moment. Reminds us of IL&FS,” after China's Evergrande Group's survival hangs in the balance. Investors are concerned, as the issue has been compared to the global financial crisis of 2008. They are concerned that the crisis may repeat the failure of Lehman Brothers in 2008. The brewing [...]
The Evergrande Crisis in China Affecting Markets Worldwide Explained!
The Evergrande Crisis in China has sparked a sell-off in global stock markets, with the Dow, S&P, and Nasdaq all correcting by nearly or over 2% on Monday and Tuesday, while Asian markets were mixed on Tuesday as the liquidity crisis continued to weigh on investor sentiment. The Hang Seng in Hong Kong hit a [...]
PLI Scheme for Auto Sector will Assist Tesla in Establishing a Manufacturing Base in India – Mahendra Nath Pandey
On September 15, the Union Cabinet approved a PLI Scheme for the auto sector worth Rs 25,938 crore with the goal of stimulating the production of sophisticated automotive technology items such as electric and hydrogen-fueled automobiles. While India waits for Tesla to arrive with its fleet of electric vehicles, the California-based automaker has yet to [...]
Adani Power News: Supreme Court to Reconsider its 2019 Judgment in Adani power Case
Synopsis: Latest news on Adani power is that after noting that GUVNL's curative appeal raises major legal problems, a five-judge bench led by Chief Justice of India NV Ramana issued notices on the petition. The Latest Adani Power news is that the Supreme Court has decided to review its decision from 2019, in which Adani [...]
Will Moratorium on Spectrum & AGR Dues Help Vi Escape Bankruptcy?
Synopsis: Despite the four-year delay in statutory payouts, the telecom JV between Vodafone Plc and India's Aditya Birla Group's financial challenges are far from over, as the accrued interest over the four-year moratorium period on Spectrum & AGR dues would add to the telco's massive Rs 1.9-lakh crore debt. According to analysts, the four-year suspension [...]
Indian Markets Hit Record High; Investors Gain Almost Rs 4.46 Trillion in 3 Days
Indian Markets Hit Record High The BSE Sensex hit above 59,000 for the first time on Thursday, boosted by gains in Reliance Industries, ITC, and ICICI Bank, as well as unrestricted foreign money inflows and bullish European market indications. In three days of the market surge, the benchmark Sensex hit the 59,000-mark for the first [...]
Ola Electric Scooter Sales Cross Rs.600 Crores in a Single Day!
After Ola Electric Scooter Sales Cross Rs.600 Crores the company said in a statement: "We sold 4 scooters every second! In fact, in just 24 hours, we sold scooters worth over 600 crores! That's more, in value terms than what the entire 2W industry sells in a day! Make no mistake, the age of EVs [...]
Air India Privatisation: Tata & SpiceJet Submit Their Final Bid
Synopsis: On Wednesday, Tata Sons and SpiceJet bid for Air India which is on sale as a part of India's Air India privatisation plan September delivered the excellent news that everyone had been waiting for: financial bids for Air India have been submitted. When Air India privatisation attempt was made in 2017, the airline drew [...]
Govt Considers Picking up Token Stake in Vodafone Idea
According to a source familiar with the situation, the government is considering buying a token stake in Vodafone Idea by converting a portion of the company's debts as part of the Centre's efforts to reassure investors about the telco's future. According to the individual, the government may preserve the option of turning more of those [...]
Jhunjhunwala Owned Stock Nazara Technologies Touches New High; Rises 50% in the Last 5 Months
Rakesh Jhunjhunwala Owned Stock Nazara Technologies has outperformed the BSE Sensex by 20.34% in the last month. Over the same time span, the BSE Sensex gained only 5%. According to analysts, Jhunjhunwala Owned Stock Nazara Technologies stock soared to a new high of Rs 2,076 in intra-day trade on the BSE on Tuesday. The stock [...]
Ami Organics Makes a Hot Debut at 47% Premium, Vijaya Diagnostic Lists at 2% Premium
Ami Organics The shares of Ami Organics listed on the Indian stock exchanges today making a stellar debut on the NSE at Rs 910, up 49.18% from its issue price of Rs 610. Ami Organics' stock began trading at Rs 902 on the BSE, up 47.87%. Ami Organics Rs 570-crore IPO was open for subscription [...]
Zomato Co-Founder Gaurav Gupta Resigns Two Months After Company’s IPO
Zomato Co-Founder Gaurav Gupta's last day at Zomato, according to sources, is today. He will now be expected to prepare his next professional venture, which may or may not be his own, as well as spend time with his family. Gaurav Gupta, Zomato co-founder and a top executive in the run-up to the company's historic [...]
SREI Group Debt of Rs 35,000 Crore ($4.7 bn) Could be Classed as NPA
Synopsis: The NCLT earlier granted SREI Group relief in December 2020, but after overturning its decision banks are to classify the loans as NPAs by the end of this quarter. In recent years, SREI has been troubled by a slew of issues. Two rating agencies recently downgraded it to junk status. After the National Company [...]
Vedanta Resources Debt to be reduced by $800 mn in FY-22, Releasing Pledge on all its Equity Shares
Vedanta Resources debt is to reduce by around $300 million in the first half of the fiscal year 2021-22 and plans to cut debt by another $500 million in the second half, according to a press release issued on Monday. The most recent Vedanta Resources debt repayment includes inter-company loans as well as a payment [...]
Paytm has promoted Ajay Shekhar Sharma as Cheif Business Officer Ahead of IPO
Paytm has promoted senior vice presidents to chief business officers (CBOs) in the run-up to its initial public offering (IPO). Paytm Promotes Ajay Shekhar Sharma and Senior VP’s Ripunjai Gaur, and Abhay Sharma. While the company has not commented on the situation, Sharma has been the chief business officer of Paytm since August, according to [...]
Anil Ambani’s Reliance Infra Wins Rs.4,600 Crores Arbitration Against Delhi Metro
Synopsis: Reliance Infra wins Rs. 4,600 crore arbitration award against Delhi Metro. The Supreme Court upheld an arbitral verdict in favour of the debt-ridden Reliance Group, led by Anil Ambani, in a major victory for the beleaguered company. Reliance Infra wins a four-year legal battle against Delhi Metro worth Rs. 4,600 crores that it claims [...]
Airtel and Vodafone Idea Shares Fall After Cabinet Decision
Bharti Airtel set a new high and Vodafone Idea extended its advance for the two straight sessions on Tuesday but today Airtel and Vodafone Idea Shares Fall, while Reliance Industries, which controls Jio, has been stabilising following a 17.5 per cent rally in the previous month. According to a Business Standard story citing unidentified government [...]
Cairn Energy to Drop Case Against India, After Receiving $1 Billion Refund
Cairn Energy to Drop Case Against India: The announcement comes a month after India proposed repealing the contentious 2012 law. The company located in the United Kingdom announced on Tuesday that Cairn Energy will drop case against India and Indian properties in nations ranging from France to the United States within days after obtaining a [...]
IRCTC shares cross Rs.3,000 mark; Becomes India’s 92nd most valuable firm
The state-owned Indian Railway Catering and Tourism Corporation (IRCTC) shares cross the Rs 3,000 barrier on the BSE for the first time making it part of India’s top 100 most valuable listed firms. The company is now in the process of a stock split. The shares of IRCTC rose for the third day in a [...]
Jio Completed 5 Years: Zomato, Netflix Among Many To Wish The Telecom Giant A Happy Anniversary
On September 5 2021 Jio completed 5 years and since September 5, 2016, India's data usage has increased by 1,300%, while the number of broadband subscribers has increased fourfold. Reliance Jio is also now the market leader, having been in operation for 5 years on September 5, 2021. The Mukesh Ambani-led company Jio completed 5 [...]
Reliance Plans To Acquire T- Mobile For A $5.7 Billion Bid
Reliance Plans To Acquire T- Mobile: According to two persons familiar with the situation, Reliance Industries Ltd (RIL) is preparing to make a $5.7 billion non-binding offer to buy a majority position in T-Mobile Netherlands BV, the country's largest cellular provider. The corporation is putting money aside in order to make the acquisition in a [...]
IPO Status of Ami Organics And Vijaya Diagnostics
Investors responded well to Ami Organics and Vijaya Diagnostics Centre's IPOs, which were both announced earlier this week. Ami Organics IPO received 64.54 times subscription on the final day, while the Vijaya Diagnostics IPO received 4.54 times subscription, according to BSE data. According to BSE data, the Ami Organics IPO got bids for around 42.22 [...]
Reliance Completes Justdial Acquisition; Gains Sole Control With 40.9% Stake
Reliance completes Justdial acquisition gains sole control after Just Dial issued 21.2 million shares to RRVL (Reliance Retail Ventures Ltd on September 1, 2021, at a price of Rs 1,022.25 per share. Reliance Retail Ventures Ltd, owned by billionaire Mukesh Ambani, announced on Thursday that it had acquired sole control of Just Dial, a 25-year-old [...]
HDFC Life to Acquire Exide Life Insurance for Rs 6,687 Crore
HDFC Life to Acquire Exide Life Insurance: The private sector life insurer, announced on Friday that it will buy a 100 per cent stake in Exide Life Insurance Company from Exide Industries Ltd (EIL) for Rs 6,887 crore and thereafter merge it with HDFC Life, subject to regulatory approvals. HDFC Life would pay Rs 725 [...]
Tata Opposes Tax Break on Imports For Elon Musk’s Tesla
Synopsis: Tata Motors, India's largest electric vehicle manufacturer, has spoken out against any reduction in import duties on electric vehicles, as proposed by Tesla CEO Elon Musk. Tata opposes tax break for Tesla and believes that lowering import duties is incompatible with the Indian government's FAME (Faster Adoption and Manufacturing of Hybrid and Electric Car) [...]
Maruti Suzuki Vehicles to Become Expensive; Company to Reduce Production by 60%
Due to the partial suspension of the Gujarat facility for a few days, August output is likely to be lower than July. Maruti Suzuki hikes rates for all models but has not defined the rate at which these price increases will take effect next month. Due to a lack of semiconductors, Maruti Suzuki, India's largest [...]
ICICI Bank Market Cap Crosses Rs. 5 Lakh Crore for the First Time!
Synopsis: Private sector lender, ICICI Bank Market Cap Crosses Rs. 5 Lakh Crore for the First Time, becoming the second bank to do so. The country's largest lender by assets, HDFC Bank retains its throne at the top with a market capitalization of Rs 8.7 lakh crore, followed by SBI in third place with a [...]
US Federal Reserve Tapering Too Slowly According to Raghuram Rajan
Synopsis: Emerging markets are concerned about an "abrupt change in stance" as Fed Chair Jerome Powell continues to emphasise a gradual pace of US Federal Reserve tapering, while they also have "much less room to wait and watch" than the Fed due to their lack of credibility and policy space, Raghuram Rajan said. One of [...]
Reliance Jio leads Telecom Sector, Vodafone Idea Remains on Unstable Ground
Synopsis: Reliance Jio leads the telecom sector. According to a Jefferies analyst note, Vodafone Idea's precarious position could hasten market share transfers to Bharti and Jio. In addition, Jio's strong customer growth bodes well for the tariff future. Reliance Industries has devised a new offline retail strategy in order to shake up the 2G mobile [...]
Airtel Shares Up 2% After the Company Announces a Rs 21,000 Crore Rights Offering
On Monday Airtel shares were trading roughly 1% higher at Rs 599.90 on BSE. Bharti Airtel shares rose 2.6% in early trade, a day after India's second-largest telco announced plans to raise up to Rs 21,000 crore by selling shares to existing investors via a rights issue, a move that analysts say gives the Sunil [...]
Anand Mahindra Dedicates First SUV for Specially-Abled Shooter Avani Lekhara for Olympic Gold
Synopsis: As the 19-year-old Lekhara won India's first gold medal in the women's 10m Air Rifle SH1 at Tokyo 2020, the business magnate congratulated her by dedicating the project's first SUV for Specially-Abled to her. Malik had asked the Indian car industry to create customised SUVs for those with unique needs. As shooter Avani Lekhara [...]
Chairman of Maruti Suzuki: Words Alone Will Not Help The Auto Industry; The Government Must Take Tangible Steps
If the auto industry is to drive the economy and the manufacturing sector, penetration must rise, and millions of automobiles must be produced each year, according to RC Bhargava, Chairman of Maruti Suzuki India. RC Bhargava, Chairman of Maruti Suzuki India, stated on Wednesday that while government officials have made numerous remarks in support of [...]
Indian Pharma Industry to Surpass $60 Billion in Two Years
Synopsis: The pandemic push will lead to an 11% annual growth for the Indian pharma industry over the next two years and help it surpass USD 60 billion from around USD 45 billion in FY21, according to a report. The Indian pharma industry grew at a CAGR of roughly 4.5% from $18 billion in FY17 [...]
Ministry of Aviation Signs MoU with Adani Group to Provide Services at Three Airports
Synopsis: According to an official release, the Ministry of Civil Aviation signs MoU with Adani Group to provide services such as customs, immigration, and security at the airports in Jaipur, Guwahati, and Thiruvananthapuram. According to an official announcement, the Civil Aviation Ministry inked a memorandum of understanding (MoU) with the Adani group on Wednesday for [...]
ICICI Bank Files a Fraud Case Against Karvy Stock Broking Ltd for Rs 563 Crore
Karvy Stock Broking: According to sources, “the case was transferred to Cyberabad's Economic Offenses Wing, where a special squad was formed to examine the crime.” ICICI Bank has filed a complaint against C. Parthasarathy, the promoter of Karvy Stock Broking Ltd, and others for allegedly defrauding the bank of Rs 563 crore. The police issued [...]
After Yesterday’s 9% Drop, The Zomato Stock Price has Dropped Another 5% Today; Should you Buy, Sell or Hold?
On the BSE, Zomato stock price slumped 5% to Rs 120.60 apiece in intraday trading on Tuesday, following a 9% drop in the previous session. Zomato shares were still 6% higher than their 52-week low, reached on July 23, while they had dropped nearly 20% from their all-time high. On the BSE, Zomato shares slumped [...]
RIL Hopes to Build a Super App with Just Dial Features, with the Goal of Becoming the “Number One Player in the E-Commerce Industry.”
Synopsis: According to insiders, the super app will be coupled with Facebook-owned WhatsApp, similar to WeChat, China's most successful social commerce platform with over 1 billion users. Reliance Industries, headed by Mukesh Ambani, is apparently trying to create a super app by combining the features of local search engine Just Dial, which it just purchased, [...]
Jio adds 5.5 MN Users in June; Vodafone Idea Loses 4.3 MN Users
Synopsis: Overall telephone subscribers in India rose from 1,198.5 million at the end of May 2021 to 1,202.57 million the following month, up 0.34% but Vodafone Idea continues to lose users. According to the latest data from the Telecom Regulatory Authority of India, Reliance Jio added 5.5 million subscribers to its network in June, followed [...]
Ola Plans IPO: India’s Ride-Hailing Company, Plans to go Public in FY-22, According to its CEO
Ola Plans IPO: Ola has previously gotten CCI permission for a $500 million investment from Temasek and Warburg Pincus to help fund its initial public offering. Ola, an Indian ride-hailing aggregator, is planning to go public next year, although the exact date has yet to be determined, according to chairman and group CEO Bhavish Aggarwal. [...]
Metro Manufacturers, Backed by Rakesh Jhunjhunwala, Seeks SEBI Approval for an IPO
Metro Manufacturers IPO will feature a fresh issuance of equity shares worth Rs 250 crore and an offer-for-sale of 21,900,100 equity shares by selling shareholders, according to the DRHP. Metro Brands Ltd., backed by Rakesh Jhunjhunwala, has appealed to the market regulator for clearance of its IPO. In India, Metro Shoes is a multi-brand footwear [...]
SEBI Holds Adani Wilmar IPO Due to Investigation Against Adani Enterprises
Synopsis: The 4,500-crore Adani Wilmar IPO has been "kept in abeyance" by the market regulator due to an investigation into Adani Enterprises, which is being scrutinised for foreign portfolio interests. Due to an investigation ongoing against the flagship entity of ports-to-energy conglomerate Adani Group, market regulator Securities and Exchange Board of India (SEBI) has put [...]
Zomato Dissolves its Subsidiary in the United States
Synopsis: "ZUL was not a material subsidiary of the company (Zomato) and didn't have any business activity and the dissolution of ZUL will not affect the turnover/revenue of the company." Zomato said Zomato had previously listed at a 52 per cent premium at ₹ 115 on stock exchanges on July 23. Zomato, India's largest meal [...]
Emcure Pharmaceuticals Plans IPO – Submits DRHP for Rs 4,500-Rs 5000 Crores
Emcure Pharmaceuticals Limited, one of India's major pharmaceutical businesses, has submitted its Draft Red Hearing Prospectus (DRHP) to obtain funds through an initial public offering (IPO) with market regulator Securities and Exchange Board of India (SEBI). Emcure Pharmaceuticals, headquartered in Pune, Maharashtra, is an Indian pharmaceutical firm. Tablets, capsules (both softgel and hard-gel capsules), and [...]
Reliance Naval and Engineering Solicits Offers From Three Companies
Synopsis: On Wednesday, the committee of creditors (CoC) is expected to meet to review the proposals. As of April 26, 2021, financial creditors had a total exposure of Rs 12,429 crores to Reliance Naval and Engineering. Sources close to the development informed FE (Financial Express) that a Naveen Jindal group entity, along with two other [...]
PharmEasy is Planning IPO to Raise $1 Billion at a $9 Billion Valuation
PharmEasy, India's largest online pharmacy, plans to raise $1 billion in an initial public offering (IPO) later this year at a $9 billion valuation. According to sources, the funds will be generated by issuing new shares rather than existing ones, meaning that no current owners, founders, or investors will sell their stakes. API Holdings Private [...]
After Major Policy Changes, India Commercialises Petroleum Reserves
India Commercialises Petroleum Reserves: In what appears as a major change in the policy with respect to energy security in India, the central government has started to commercialise its Strategic Petroleum Reserves(SPR) by generating revenue from leasing capacity and freeing up some of its stocks for trading. The central cabinet approved this move in July. [...]
Saudi Aramco and Reliance Industries in Advanced Talks to Sign a $25 Billion Deal
Synopsis: After rumors of a prospective deal between Reliance and Aramco after more than two years of negotiations, Reliance Industries' stock rose as much as 2.6%. According to persons familiar with the situation, Saudi Aramco is in advanced talks to buy a share in Reliance Industries Ltd.'s oil refining and chemicals sector in an all-stock [...]
NTPC Renewable Subsidiary IPO to Hit Markets in FY-23
NTPC Renewable Subsidiary IPO: State-run NTPC Ltd has begun laying the groundwork for initial share sales of its Renewable energy subsidiaries NTPC Vidyut Vyapar Nigam Ltd (NVVN) and NTPC Renewable Energy Ltd (NTPC REL), according to two persons familiar with the effort. The renewable energy companies NVVN and NTPC REL are anticipated to be among [...]
IPO Listing Status: Devyani International, Windlas Biotech, and Exxaro Tiles
IPO Listing Status of Exxaro Tiles: The shares of Exxaro Tiles debuted at a 10% premium on the bourses at Rs. 126. Exxaro Tiles' initial public offering (IPO), which produces double charge vitrified tiles and glazed vitrified tiles, received a strong reaction from investors, with the issue being subscribed 22.68 times between August 4-6. In [...]
VLCC Health Care IPO: Resubmits Draft Papers; OIH Mauritius and Leon International to Depart
VLCC Health Care IPO: The IPO consists of a fresh issue of Rs 300 crore by the company, as well as an offer by the promoters and investors to sell 89,22,672 equity shares. On August 13, a beauty and wellness company, VLCC Health Care, refiled its Draft Red Herring Prospectus with SEBI, the capital markets [...]
Following the decision in Amazon’s favor, Future Group and promoter Kishore Biyani move to SC
Kishore Biyani move to SC: According to a regulatory filing by Future Retail Ltd, Kishore Biyani, Rakesh Biyani, and other Biyani family members, as well as the holding companies, have filed an SLP against Amazon.com NV Investment Holdings LLC before the Supreme Court. Future group promoters, including Kishore Biyani and many group holding companies, have [...]
Tata Motors Seeks To Raise $1 Billion For Its EV Endeavour At a $7 Billion Valuation
Tata Motors Seeks To Raise $1 Billion: India's largest automaker Tata Motors' plan to operate its Electric Vehicle(EV) segment distinctly is picking up pace as the company is in talks to raise funds for the said business. Tata Sons Chairman N Chandrashekharan had announced the plans relating to creating an ecosystem for EV business in [...]
Before Any Tax Breaks, India wants Tesla’s Sourcing Plans and Road Map
India wants Tesla's Sourcing Plans: The agencies have also inquired about Tesla's opinions on importing completely assembled automobiles rather than "knocked-down" or partially assembled vehicles. California-based Tesla addressed Prime Minister Narendra Modi's government, requesting that the import duty on electric vehicles be cut to 40% from the current 60% to 100%. According to a source [...]
Adani Ports CEO Karan Adani Says Acquiring Concor Will Be A Breeze
APSEZ continues to make significant investments in logistical assets. Adani Ports and Special Economic Zone Ltd (APSEZ) will have no trouble acquiring Container Corporation of India Ltd (Concor) from the government, according to Chief Executive Officer Karan Adani, who added that the money would be for "time value" to expedite the strategy despite the possibility [...]
Jhunjhunwala’s Stock Lupin Declines 12% Despite Increasing Profit by 5 Times
Pharma giant Lupin has come out with its Q1 performance yesterday and has investors panicked in no time. One of the largest generic pharmaceutical companies by revenue globally, Jhunjhunwala’s Stock Lupin has been facing pressure in the form of unresolved USFDA matters and the effects have spilled over to the Indian markets as well. The [...]
IPO Status: Nuvoco Vistas, CarTrade, Aptus Value Housing Finance, and Chemplast
The IPO market continues to be buzzing, with four businesses launching initial public offerings this week, raising a total of Rs 14,628 crore. CarTrade Tech On Wednesday, CarTrade Tech's initial public offering (IPO) received a positive response. After three days of trading and subscriptions, the IPO came to an end. Investors responded enthusiastically to CarTrade [...]
Vodafone-IDEA’S Doubtful Tomorrow
It is very unlikely that a cell phone user in India is aware of the issues in the telecom sector and why the number of service providers is going down with each passing year. But they will sure remember the short and not-so-cute Pug, the Zoo-Zoo advertisements that would be more entertaining than the cricket [...]
For $5.9 billion, Reliance Industries may buy the Deutsche Telekom unit
According to individuals familiar with the situation, billionaire Mukesh Ambani's Reliance Industries is considering an offer for Deutsche Telekom AG's Netherlands business. According to the persons, the Indian conglomerate is working with an adviser to consider a bid for T-Mobile Netherlands BV. They asked not to be identified since the information is classified. According to [...]
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