Market benchmark indices bounced back in early trade on Thursday after falling in the past three days, amid buying in recently hit banking and IT counters. The 30-share BSE Sensex climbed 210.49 points to 59,778.29 in early trade. The broader NSE Nifty advanced 56.35 points to 17,675.80. Among the Sensex firms, Titan, Larsen & Toubro, [...]
HDFC Capital Advisors will increase its stake in proptech startup Loyalie IT Solutions (now renamed as Reloy) to up to 9.6 per cent from 7.2 per cent currently, amid surge in adoption of technologies in Indian real estate market. According to a regulatory filing on Wednesday, HDFC Capital Advisors will acquire 1.67 lakh compulsory convertible [...]
The government is planning to develop more than 250 projects with a ropeway length of over 1,200 km in five years under Parvatmala Pariyojana, Union minister Nitin Gadkari said on Wednesday. The government is promoting the manufacturing of ropeway components under the 'Make in India' initiative, an official release quoted Gadkari as saying. The minister [...]
Shares of Marico Limited traded in the red today with a closing price of Rs 467.90. The stock hit its 52-week low figure today at a price of Rs 466.55. The scrip witnessed a downfall of around 2.5 percent as compared to the previous closing price of Rs 480.10. Such movements in the stock prices [...]
The Ministry of Road Transport and Highways (MoRTH) has put plans in place to maintain the pace of highway development and construct 12,500 km of highways in the current financial year, a senior official on Wednesday said. Alka Upadhyaya, Secretary, MoRTH, said Rs 10,000 crore is planned to be raised through Infrastructure Investment Trusts (InvITs) [...]
State-owned NHAI is working towards development of around 10,000 kilometres of Optic Fibre Cables (OFC) infrastructure across the country by FY2024-25, according to an official statement. The statement said National Highways Logistics Management Limited (NHLML), a fully-owned special purpose vehicle of NHAI, will implement the network of "digital highways" by developing integrated utility corridors along [...]
Continuing healthy demand from construction, real estate and automobile sectors will help the paint sector register a 10-12 per cent revenue growth this fiscal against an 18 per cent estimated rise in the just-concluded fiscal, according to a report. Volume expansion and the resultant cash generation will help paint companies maintain healthy balance sheets, which [...]
Benchmark equity indices Sensex and Nifty ended lower on Wednesday, marking their third straight day of losses due to selling in IT and select banking shares and foreign fund outflows. Falling for a third day, the 30-share BSE Sensex declined 159.21 points or 0.27 per cent to settle at 59,567.80. During the day, it fell [...]
Stocks of newly listed Avalon Technologies Limited started its trading session today at Rs 405 and closed at a price of Rs 406. The scrip gained 2 percent as compared to the previous closing price of Rs 398. The company’s shares made a muted debut on the BSE yesterday listing at Rs 431 which was [...]
Inflows in the mutual fund industry through systematic investment plans or SIPs reached Rs 1.56 lakh crore in 2022-23, up 25 per cent from the preceding fiscal, suggesting retail investors' trust in the route despite volatility in the markets. In comparison, an inflow of Rs 1.24 lakh crore through the route was registered in 2021-22 [...]
Private sector lender IndusInd Bank on Wednesday said it has entered into a USD 100 million long-term loan agreement with JBIC to facilitate Indian entities interested in buying Japanese construction equipment. The finance is being done through a special agreement signed with Japan Bank for International Cooperation (JBIC) by the lender's branch in the Gift [...]
Zydus Lifesciences Ltd on Wednesday said it has received final approval from the US health regulator to manufacture and market its generic Roflumilast tablets used in reducing inflammation in the lungs. The approval granted by the United States Food and Drug Administration (USFDA) is for manufacturing and marketing of Roflumilast tablets of strength 250 mcg, [...]
Edible oils body SEA on Wednesday said crude sunflower and soyabean oil shipments are held up at ports due to customs clearances issues and requested the government to address the matter immediately, else it may lead to shortages and rise in retail prices. The government had permitted tariff rate quota (TRQ) during the 2022-23 financial [...]
Cube Highways Trust (CHT) has raised USD 630 million from a clutch of investors including British Columbia Investment Management Corporation (BCI) and Abu Dhabi's sovereign investor Mubadala Investment Company (Mubadala). Cube Highways Fund Advisors Private Limited, the Investment Manager to InvIT, in a statement announced the listing of its fully subscribed privately placed ordinary units [...]
AU Small Finance Bank on Wednesday said it has received permission from Reserve Bank of India to deal in foreign exchange. Reserve Bank of India vide its letter dated April 19, 2023 has granted Licence to act as Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999 to deal in foreign exchange, AU Small [...]
Finolex Cables, a leading manufacturer of electrical and telecommunication cables, on Wednesday announced a Rs 200-crore capex to expand its manufacturing capacity this fiscal. The Pune-based company said the Rs 200-crore capex will be deployed over the next few months to enhance the manufacturing capabilities at its Urse plant near Pune. The plant serves the [...]
Shares of RattanIndia Enterprises gained 7.51% on Wednesday’s early trades to reach an intraday high of ₹ 41.50 apiece after the company launched its private label. At 01:52 PM, its shares were trading at ₹ 40.00 apiece, up 3.63%. RattanIndia Enterprises is a part of the RattanIndia Group. It is a platform for its new-age [...]
Drug maker Mankind Pharma on Wednesday said it has fixed a price band of Rs 1,026-1,080 a share for its Rs 4,326-crore initial public offering (IPO). The three-day initial public offering (IPO) will open for subscription during April 25-27, and the bidding for anchor investors will open on April 24, the company announced. The company's [...]
Shares ICICI Lombard General Insurance opened its trading hour today at Rs 1,125.05 and currently trades at Rs 1,085. The scrip has witnessed a downside of around 4 percent as compared to the previous closing price of Rs 1,130.75. It is near its 52-week low figure which was recorded at Rs 1,049.05. The company announced [...]
The government has brought back the windfall profit tax on domestically produced crude oil after international prices firmed up while the levy on export of diesel has been cut to nil, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) is now Rs [...]
