New Delhi, Mar 30 (PTI) The government's 1.5 per cent stake sale in ONGC witnessed a smooth start on Wednesday, with institutional buyers putting in bids worth Rs 4,854 crore and over-subscribing the portion reserved for them.The government is selling up to 1.5 per cent of its stake in the country's top oil and gas [...]
New Delhi, Mar 30 (PTI) Working capital loan facilitating platform for small and medium businesses CredAble disbursed record USD 3 billion (Rs 22,500 crore) during the financial year 2021-22, and expects to double the amount in next fiscal on more customer acquisitions and high demand for short-term business loans, co-founder and CEO Nirav Choksi said. [...]
New Delhi, Mar 30 (PTI) Gaming platform Games24x7 on Wednesday said it has raised USD 75 million (nearly Rs 570 crore) in funding led by Malabar Investments. Existing investors Tiger Global and Raine Group also participated in the latest funding round, the company said in a statement.The funds will be used to accelerate user growth, [...]
New Delhi, Mar 30 (PTI) Italian financial services firm Generali on Wednesday said it has become the majority shareholder of the Indian life insurance joint venture following all the regulatory approval. The company has completed the acquisition of the entire stake of around 16 per cent held by Industrial Investment Trust Limited (IITL) in Future [...]
New Delhi, Mar 30 (PTI) Axis Bank on Wednesday announced the acquisition of Citigroup's India consumer banking business, including credit card, retail banking, consumer loan and wealth management, for Rs 12,325 crore.Axis Bank will acquire about 30 lakh customers of Citibank India and grow its credit card portfolio by 31 per cent.The deal will give [...]
New Delhi, Mar 30 (PTI) V-Guard Industries plans to expand in northern, eastern and western regions of the country as it aims to garner over 60 per cent revenue from these regions in the next five-six years, a senior company official said on Wednesday.Currently, these regions contribute around 42 per cent of the business of [...]
Mumbai, Mar 30 (PTI) India Ratings has lowered its GDP growth forecast for FY23 to 7-7.2 per cent, from 7.6 per cent earlier citing the rising uncertainty over Russia-Ukraine war and the resultant dampening of consumer sentiment. Since the duration of the war continues to be uncertain, in the first scenario crude oil prices could [...]
Stalwarts from the Real Estate Industry and the Glitterati of Tinsel Town descended on “SOS Nitelife” - “Synergy Of Services Nitelife Private Limited”, as it hosted its first Edition of “DESI HOMES REALTY ICON AWARDS - 2022” & “SOS NITELIFE EXCELLENCE AWARDS – 2022”, on 25th March 2022’, at Hotel Taj Santacruz, Mumbai, India. Smt. [...]
New Delhi, Mar 30 (PTI) Food supply startup FarMart on Wednesday said it has secured USD 32 million (over Rs 240 crore) funding in a round led by General Catalyst. Existing investors -- Matrix Partners India and Omidyar Network India -- also participated in the Series B round. Elluminate Capital acted as the exclusive financial [...]
The country's largest private sector lender HDFC Bank on Wednesday said the elevated stress on unsecured loan assets noticed during the COVID-19 pandemic is over, and the bank is upbeat about the segment now. The unsecured lending book for the bank includes credit cards and personal loans. According to HDFC Bank's country head for consumer [...]
Bengaluru, Karnataka, India (NewsVoir) • Global Investors Meet (GIM) from Nov 2nd- 4th November 2022 at Bengaluru Palace • Karnataka, a land of opportunities - aims to attract more investments and job creation - Minister for Large & Medium Industries, Murugesh R. Nirani • CM to invite PM Modi for the Invest Karnataka 2022 Chief [...]
New Delhi, Mar 30 (PTI) Lok Sabha on Wednesday approved a bill to revamp the functioning of the institutes of chartered accountants, cost accountants and company secretaries, with Union minister Nirmala Sitharaman asserting that the changes will not impact the autonomy of these bodies. The Chartered Accountants, Cost and Works Accountants and Company Secretaries (Amendment) [...]
New Delhi, Mar 30 (PTI) Infrastructure investment trust PGInvIT has inked an agreement with HDFC Bank to secure a credit facility of Rs 700 crore for part financing the funding requirements for its acquisitions."This is to inform that pursuant to the approval of the Board of Directors of PowerGrid Unchahar Transmission Limited (PUTL), the Investment [...]
New Delhi, Mar 30 (PTI) Expressing concern over high spectrum price, a Parliamentary Panel on Wednesday asked the government to pay due attention to the issues raised by telecom operators and take steps for early rollout of the 5G services.The Standing Committee on Communications and Information Technology, chaired by Lok Sabha MP Shashi Tharoor, in [...]
New Delhi, Mar 30 (PTI) Private sector lender Karnataka Bank on Wednesday said it has raised Rs 300 crore by issuing bonds on private placement basis. The committee of directors of board of the bank, at its meeting held on March 30, 2022, has approved the allotment of unsecured, subordinated, redeemable non-convertible, fully paid-up Basel [...]
Chennai, Mar 30 (PTI): Industrial technology company Trimble on Wednesday said it has set up its new research and development centre in the city --- the second largest facility outside the United States. The Centre at the Varalakshmi Information Technology Park, on the Old Mahabalipuram Road (popularly known as IT Corridor) is spread across three [...]
March 30, 2022: Invesco Mutual Fund announces the launch of its new fund Invesco India – Invesco EQQQ Nasdaq-100 ETF Fund of Fund (An open-ended fund of fund scheme investing in Invesco EQQQ Nasdaq-100 UCITS ETF). The fund will invest 95% of its net assets in the Invesco EQQQ Nasdaq UCITS ETF fund, which seeks [...]
The scare of the Covid-19 pandemic is reducing and the hospitality sector is recovering. There was a strong domestic demand and foreign tourists returned after two muted years. Indian Hotels Company (IHCL) now has strong room bookings till May 2022. This Rakesh Jhunjhunwala portfolio stock made a fresh all-time high of ₹ 245.45 on Wednesday. [...]
