Global banking group Standard Chartered on Monday said it has closed an operating lease of five new Boeing 737 MAX 8 aircraft with domestic carrier Akasa Air. While the bank already provides Akasa Air with corporate banking solutions and services, this is the first aviation finance transaction with the airline, Standard Chartered said in a [...]
Nainital Bank, a subsidiary of public sector lender Bank of Baroda (BoB), on Monday said it has raised around Rs 100 crore through a rights issue to meet future capital requirements. BoB holds 98.57 per cent stake in Nainital Bank. The amount was raised on March 29, 2023, Nainital Bank said in a statement. Nainital [...]
State-owned NMDC surrendered the lease for Arki limestone mine in Himachal Pradesh as the project faced various challenges including logistics, Parliament was informed on Monday. NMDC had obtained a lease to mine limestone deposits at Arki in Solan district of Himachal Pradesh on April 23, 1991, Minister of State (MoS) for Steel Faggan Singh Kulaste [...]
Benchmark indices Sensex and Nifty settled with gains for the third straight session on Monday, helped by buying in auto, banking and capital goods shares despite a spike in crude oil prices. The 30-share BSE Sensex rose 114.92 points or 0.19 per cent to close at 59,106.44 points with 22 of its components ending in [...]
Indian benchmark indices opened higher on the first day of the new financial year 2023-24, before giving up initial gains. At 03:17 PM, the indices were trading almost flat. The Sensex was at 59,122.85 points, up 0.22% and the Nifty was at 17,408.60 points, up 0.28%. Though the market was moving sideways, here are four [...]
The country's largest car maker Maruti Suzuki India on Monday said its production volume could be hit in the current fiscal with the supply situation of electronic components remaining unpredictable. The auto major said the shortage of electronic components had some impact on the production of vehicles in the last financial year as well. "As [...]
Jawaharlal Nehru Port Authority (JNPA) on Monday said it has logged a record growth in container traffic at 6.05 million TEUs (Twenty-foot equivalent units) in FY23, a growth of 6.4 per cent over the year earlier. Total container traffic at the port in the fiscal year ended March 31, 2022, was recorded at 5.68 million [...]
Cost of 651 essential medicines has come down by an average of 6.73 per cent from April with the government capping ceiling prices of a majority of the scheduled drugs, NPPA said on Monday. In a tweet, the national drug price regulator said the government has been able to fix the ceiling prices of 651 [...]
Telecom regulator TRAI on Monday issued a draft to repeal the regulation on quality of service of dial-up and leased line internet access service. The Telecom Regulatory Authority of India (TRAI) said that there are no dial-up subscribers now and high-speed broadband services are being provided through optical fibres, wireless technologies such as 4G. "Authority [...]
NCC Ltd stock started its trading session today at Rs 106.95 and currently trades at Rs 107.40. The scrip is up around 1.3 percent in comparison to the previous closing price of Rs 106.10. It observed an intra-day high figure of Rs 108.50 showing an upside of around 2.25 percent to the previous closing levels. [...]
India Inc's key credit ratios moderated sharply in the second half of FY23 on expected lines and are likely to go down further, Crisil Ratings said on Monday, maintaining that upgrades will continue to outpace downgrades. The Crisil credit ratio, or the number of upgrades to downgrades, moderated to 2.19 times for the October 2022-March [...]
Stainless steel flexible hose manufacturer Aeroflex Industries Ltd has filed draft papers with capital markets regulator Sebi to mobilise Rs 350 crore through an initial share-sale. The initial public offering (IPO) consists of a fresh issue of equity shares worth up to Rs 160 crore and an offer-for-sale (OFS) of up to 1.75 crore equity [...]
Sundaram Home Finance, which forayed into the small business loans segment in 2022, has drawn up plans to double its footprint in Tamil Nadu, the company said on Monday. The wholly-owned subsidiary of non-banking finance company Sundaram Finance also planned to hire over 100 people under the small business loans segment in the first six [...]
Tejas Networks has received an advance purchase order of ₹ 696 crores for a Pan-India router network from Bharat Sanchar Nigam Limited (BSNL). It won this order while competing against top-tier global vendors in an open tender, and emerged as the lowest commercial bidder. At 01:54 PM, the Tejas Networks’s shares were trading 5.02% higher [...]
VE Commercial Vehicles Ltd on Monday reported a 35.2 per cent increase in sales at 11,906 units in March 2023, as compared to 8,803 units in the same month last year. The company, a joint venture of the Volvo Group and Eicher Motors, said Eicher branded trucks and recorded sales of 11,677 units last month, [...]
Mahindra & Mahindra (M&M) on Monday said its total sales increased by 21 per cent year-on-year to 66,091 units in March. The company had dispatched 54,643 units to dealers in March 2022. In a statement, the Mumbai-based auto major said its utility vehicle wholesales rose by 31 per cent to 35,976 utility vehicles in March, [...]
Orient Electric Ltd, on Friday, announced the appointment of Rajan Gupta as its Managing Director and CEO as the incumbent Rakesh Khanna resigned from the company after a stint of 8 years. The appointment has been made for a period of 5 years effective from April 4th, 2023, till April 03, 2028, subject to the [...]
Shares of Rail Vikas Nigam Limited (RVNL) surged 8.67% on Monday’s early trades to reach an intraday high of ₹ 74.55 apiece after the company received multiple orders aggregating to an amount of more than ₹ 16,000 crores. At 12:25 PM, its shares were trading at ₹ 74.25 apiece, up 8.24% A consortium of Tracks [...]
Shares of Hero MotoCorp on Monday gained over 3 per cent in late morning trade after the firm reported a rise in total sales for March. The stock of two-wheeler maker jumped 3.30 per cent to Rs 2,424.50 in late morning trade on the BSE. The company's scrip witnessed a similar movement on the NSE, [...]
Professional networking startup Blue Circle on Monday said it has raised a fresh round of funding from leading CXOs from private equity, tech, healthcare and legal sectors. The Gurugram-based startup has raised more than USD 500,000 through 2 rounds of angel funding so far and is planning a pre-series A round in next few months, [...]
