Smartworks, which provides managed office space, plans to raise USD 70-90 million equity fund this fiscal year for future growth to tap the rising demand for flexible workspace. In an interview with PTI, Smartworks founder Neetish Sarda said the company's revenue is set to cross Rs 700 crore last fiscal from Rs 394 crore in [...]
Cash-strapped Pakistan plans to place its first order for Russian crude oil next month and it will take about four weeks for the commodity to reach the country, Minister of State for Petroleum Musadik Malik said. Pakistan, which is currently grappling with high external debt and a weak local currency, is desperate to purchase cheap [...]
SpiceJet Ltd on Monday said it has hived off its cargo and logistics business SpiceXpress into a separate entity -- SpiceXpress and Logistics Pvt Ltd, from April 1. The move results in a one-time gain of Rs 2,555.77 crore for SpiceJet, substantially reducing its negative net worth, the company said. It also paves the way [...]
Pakistan on Sunday clarified that it never sent any merchandise to Israel following reports of its food products landing in the Jewish state. The country faced a backlash after Pakistani-Jewish businessman Mr. Fishel BenKhald posted on social media a picture of Pakistani products in Israel. It created a storm and the opposition Pakistan Tehreek-e-Insaf party [...]
Global Pharma Healthcare is recalling 50,000 tubes of eye ointment in the US market due to bacterial contamination, according to the US Food and Drug Administration (USFDA). As per its latest Enforcement Report, the US health regulator noted that the Chennai-based drug firm is recalling the affected lot of "Artificial Eye Ointment" in the US [...]
Equity market witnessed volatile trade on Monday morning, with benchmark indices Sensex and Nifty declining amid mixed trend in Asia and concerns over the inflation trajectory. As the market swung between positive and negative territories in early trade, the 30-share Sensex fell 53.63 points or 0.09 per cent to 58,937.89 points. The 50-share Nifty dropped [...]
A few stocks from the Nifty 500 index have been star performers this year as they gave stellar returns and became multibaggers in an otherwise weak market. These stocks gave multibagger returns of more than 1000%, even as the benchmark indices were in the red. Here are four stocks that gave multibagger returns and became [...]
With a market capitalization of ₹ 15,347 crores, KEI Industries is a small-cap stock which proved to be a safe long term investment for investors. The company was established in 1968 and manufactures cables and wires. Its product portfolio ranges from housing wires to extra high voltage (EHV) cables. Moreover, it has diversified into Engineering, [...]
The world of digital assets is growing rapidly. However, despite the potential benefits of these digital assets, such as lower transaction costs, increased transparency, and greater economic inclusion, many people are still hesitant to engage with them. This is partly due to a lack of technical knowledge and the perception that the digital asset ecosystem [...]
K&R Rail Engineering Ltd stock started its trading session today at Rs 415 and closed at a price of Rs 412.25. The scrip showed an upside of around 1.5 percent as compared to the previous closing price of Rs 406.80. The stock used to be a penny stock a year back trading at price levels [...]
Domestic market barometers eked out gains at the opening bell on Monday after declining for the third week, last Friday. The thirty-share BSE Sensex started the week marginally higher at 57566 points, and the fifty-share NSE Nifty 50 at 16984 points. Traders were in for another bumpy week as the banking crisis cast a shadow [...]
There are manifold metrics available to help you as you endeavour to decide what stock investment is a great fit for your portfolio. This post is going to share with you the clear things that you should consider when you are analysing the Britannia share price. Britannia Industries Limited is a food and beverage company [...]
AMNS Luxembourg Holding S.A has signed a USD 5 billion loan agreement with a consortium of Japanese banks to finance the expansion of AMNS India's plant located in Gujarat. ArcelorMittal Nippon Steel (AMNS) India is a 60:40 joint venture between Luxembourg-based ArcelorMittal and Nippon Steel of Japan. "AMNS Luxembourg Holding S.A, the parent company of [...]
Education firm Aakash expects to close the financial year 2023 with Rs 3,000 crore revenue thereby registering three-fold growth since its acquisition by BYJU's, the company said on Friday. BYJU's acquired Aakash Educational Services Limited (AESL) for about USD 950 million, about Rs 7,100 crore, in April 2021. "With AESL's continued expansion in the physical [...]
The first stock of eggs imported from India by Sri Lanka was distributed to the crisis-hit island nation's market, with one egg costing Rs 35 to bakery owners, a media report said on Friday. Sri Lanka imported two million eggs from India to ensure food security in the crisis-hit island nation, Trade and Food Safety [...]
The gross micro loans portfolio grew 20 per cent to Rs 3.16 lakh crore in the quarter ended December 2022 as compared to the year-ago period, a report said on Friday. The gross loan portfolio growth came at 5.5 per cent when compared to the September quarter, according to the report by credit information company [...]
The central government's fiscal deficit touched 82.8 per cent of the full-year target at the end of February due to higher expenses and lower revenue realisations, according to official data released on Friday. In actual terms, the fiscal deficit or gap between the expenditure and revenue collection during April-February period stood at Rs 14.53 lakh [...]
Shares of Reliance Industries jumped over 4 per cent on Friday, helping the equity benchmark indices finish the day with smart gains. A rally in the equity also added Rs 64,723.85 crore to the company's market valuation. The stock rallied 4.29 per cent to finish at Rs 2,331.05 on the BSE. During the day, it [...]
Markets regulator Sebi on Friday cancelled the registration of three brokerage houses for facilitating its clients to trade on the platform of the now defunct National Spot Exchange Ltd (NSEL) in illegal 'paired contracts'. The brokerage houses, whose registrations were cancelled, are Paterson Commodities, Blue Crest Commodities and Fair Intermediate Products. In three separate orders, [...]
Dalal Street investors became poorer by Rs 5.86 lakh crore in 2022-23 fiscal as the equity market faced a tough time in view of plenty of negative triggers such as high inflation, geopolitical conflicts and higher interest rates. The domestic stock market encountered many headwinds this fiscal such as high inflation, the Russia-Ukraine war, higher [...]
