Markets regulator Sebi has settled with Morgan Stanley France SA a case of an alleged violation of securities norms after payment of a settlement amount. The matter pertains to certain trades in long-dated Nifty options between Reliance Strategic Investments Ltd and Morgan Stanley France SA done back in 2017. The case has been settled upon [...]
IT services and consulting firm Accenture will lay off 2.5 per cent or 19,000 employees over a period of the next one and half years, the company said in a regulatory filing. Accenture currently employs over 7 lakh people and is estimated to have the largest employee base of 3 lakh people in India. "While [...]
Anil Agarwal-led Vedanta Ltd on Thursday said its board will next week consider and approve the fifth interim dividend for FY'23. The announcement comes days after Vedanta Resources which is a majority shareholder of Vedanta Ltd stating that it has enough means to meet debt repayment liabilities in the coming quarters as it looked to [...]
Benchmark indices Sensex and Nifty declined in early trade on Friday amid a weak trend in Asian markets and fresh foreign fund outflows. Weak trend in index major Reliance Industries also dragged benchmark indices lower. The 30-share BSE Sensex declined 123.03 points to 57,802.25. The broader NSE Nifty fell 61.1 points to 17,015.80. From the [...]
Power Grid Corporation of India Ltd. (PGCIL) is a ‘Maharatna’ status public sector company (PSU) under the Ministry of Power, Government of India. The government holds a 51.34% stake in this CPSU which is engaged in the business of power transmission. It is the largest electric power transmission utility in India with a transmission network [...]
Srinivasan Services Trust, the social arm of automobile major TVS Motor Company and auto-component maker Sundaram-Clayton Ltd, has invested more than Rs 21 crore over the last six years towards water conservation efforts in Tamil Nadu and Maharashtra, the company said on Thursday. Srinivasan Services Trust has also planned to invest over Rs 10 crore [...]
As part of the Digital India programme, the National Minorities Development and Finance Corporation (NMDFC) on Thursday launched software MILAN for digitising loan and accounting processes. The prime mandate of NMDFC, which comes under the minority affairs ministry, is to provide concessional finance to the minorities for self-employment/income generation activities. As per the National Commission [...]
Polar Capital Funds Plc, on Wednesday, offloaded shares of hospital chain ‘Krishna Institute of Medical Sciences Ltd’ (KIMS) worth about Rs 144 crores through an open market transaction. According to the filing with the NSE, Polar Capital Funds Plc sold 11,05,934 shares which is equivalent to around 1.38 percent stake in the company. The shares [...]
TRAI is scheduled to meet telecom companies on March 27 on the development and implementation of Unsolicited Commercial Communication (UCC) detect solutions, as the regulator continues its offensive against pesky marketing calls and messages. The Telecom Regulatory Authority of India (TRAI) further said that the exploitation of the DLT (Distributed Ledger Technology) platform to bring [...]
Specialty chemicals company Aether Industries on Thursday said it has signed an initial pact with the Gujarat government to set up new manufacturing plants at its Panoli Site with an investment of around Rs 1,000 crore. The company has signed a Memorandum of Understanding (MoU) with the Gujarat government to this effect, Aether Industries said [...]
The shares of Tata Motors were in focus this week after the company said that it will be implementing a price increase of up to 5% on its commercial vehicles starting from April 1, 2023. This is the second time that the company is making such a price hike in four months. The auto manufacturer [...]
Jio-bp, a joint venture of Reliance Industries Ltd and bp for fuel retailing, will install EV charging stations across all residential projects of Piramal Realty in Mumbai, the companies said on Thursday. "As part of this partnership, customers and visitors to Piramal's residential projects will be able to charge their electric vehicles seamlessly at Jio-bp [...]
Equity benchmark Sensex declined 290 points in a volatile session to settle below the 58,000 mark on Thursday due to a sell-off in banking, financial and IT stocks amid a weak trend in European equities. Besides, heavy selling pressure in index heavyweight Reliance Industries added to the pressure, traders said. After rallying for the two [...]
In the last six months, the shares of Maharatna-status GAIL (India) Ltd. have generated an impressive 22% gain for its shareholders advancing from Rs 86 to Rs 105 at present. This is much better than what the broader market has returned. During the same period, the benchmark NIFTY 50 index has traded almost flat with [...]
Union Road Transport and Highways Minister Nitin Gadkari on Thursday said more than 2.78 lakh electric vehicles have been registered in the country in 2023 calendar year so far. Andhra Pradesh and Madhya Pradesh are in the process of migrating to Vahan portal and hence their data on EV registration is partially included while Telangana [...]
Sri Lanka has imported two million eggs from India to ensure food security in the crisis-hit island nation, Trade Minister Nalin Fernando said on Thursday. Fernando told Parliament that the shipment imported by the State Trading General Corporation had arrived and the stocks would be released in the market within three days. The decision to [...]
Universal Cables Limited (UCL) stock opened its trading hour today at Rs 354.70 and is currently trading at a price of Rs 373.90. The stock touched an intra-day high at Rs 388 which also marks to be its 52-week high figure. In a span of six months, the stock has been able to deliver returns [...]
IT services major Infosys on Thursday announced the retirement of Kiran Mazumdar-Shaw as independent director of the board, effective March 22, 2023, upon completion of her tenure. Infosys board has appointed D Sundaram as the lead independent director of the company, effective March 23, 2023 based on the recommendation of the Nomination and Remuneration Committee, [...]
A former unit of Russian energy giant Gazprom will supply 4 shiploads of LNG to state-owned GAIL (India) Ltd for the first time since it halted supplies in May last year, Union minister Rameswar Teli said on Thursday. Sefe Marketing and Trading Singapore Pte Ltd (SMTS), erstwhile Gazprom Marketing and Trading Singapore Pte Ltd, will [...]
Larsen & Toubro (L&T) has entered into a pact with French firm McPhy Energy for a long-term partnership to explore opportunities in the emerging green hydrogen market. Green hydrogen is the hydrogen generated by renewable energy or from low-carbon power. It has significantly lower carbon emissions than grey hydrogen. Under this partnership, McPhy will grant [...]
