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 [...]
According to a recent filing with the exchange, the Indian government announced its plan to sell up to a 3.5% stake in aerospace and defense company Hindustan Aeronautics Ltd at a floor price of Rs 2,450. The filing further mentioned that the government has proposed to sell 1.75% of its equity shares on March 23rd [...]
G R Infraprojects Ltd stock opened its trading session today at a price of Rs 979.80 and is currently trading at Rs 1,043. The stock has shown an intra-day movement of up to 9 percent today. Current price levels show an upside of around 8 percent as compared to the previous closing price of Rs [...]
Maruti Suzuki India on Thursday said it will increase prices of its model range in April to partially offset the impact of "overall inflation and regulatory requirements". The auto major, however, did not share the quantum of the price hike it intends to implement from next month. The company continues to witness increased cost pressure [...]
Part of a century-old conglomerate the Murugappa Group, Coromandel International Ltd. is one of the largest fertilizer companies in India with a market capitalization of Rs 25,850 crore. It is engaged in the business of production and sale of fertilizers, specialty nutrients, crop protection solutions, organic fertilizers, and bio-pesticides. The company communicated on Wednesday that [...]
Singapore's Temasek Holdings, through its subsidiary Dunearn Investment Mauritius, has sold 2.85% equity (344,30,150 shares) in Devyani International Limited at an average price of Rs 145.04 through a Bulk Deal. As of the December quarter, Temasek has held 5.88% stake in the company. On the other hand, Franklin's India Flexi Cap Fund has picked up [...]
Finance minister Niramala Sitharaman is scheduled to meet managing directors of public sector banks (PSBs) on March 25 for performance review in the backdrop of failure of few banks in the US and liquidity crisis faced by Credit Suisse. The meeting is going to take stock of the progress made by banks in achieving targets [...]
Shares of Global Surfaces Ltd, which is into processing natural stones and manufacturing engineered quartz, made a smart debut on the exchanges on Thursday, listing with a premium of over 17 per cent against the issue price of Rs 140. The stock made its debut at Rs 163, higher by 16.42 per cent from the [...]
Air India is looking to enhance collaborations with airports in India and overseas as the Tata Group-owned carrier works on upgrading its systems. The airline has put in place a roadmap under Vihaan.AI for transformation over a five-year period. Rajesh Dogra, Chief Customer Experience Officer & Global Operations - Airport Operations, on Wednesday, said Air [...]
Mobile phone exports from India increased to nearly USD 9.5 billion in February, with Apple contributing half of the total exports, mobile devices industry body ICEA said on Wednesday. An official at the India Cellular and Electronics Association (ICEA) said the industry is on track to cross the target of mobile phone exports worth USD [...]
The government on Wednesday said the export of biofuel from special economic zones and export oriented units are allowed for fuel as well as non-fuel purposes without any restriction, if the biofuel is produced by using imported feed stock. On August 28, 2018, the government had imposed restrictions on export of biofuels within days of [...]
India now has over 127 global patents for 6G technology, Union Minister for Communications Ashwini Vaishnaw said on Wednesday. He reiterated Prime Minister Narendra Modi's remark that India has the power of trust and scale, which is leading to the demand for indigenous telecom gears overseas. Vaishnaw said the Prime Minister has given his ministry [...]
A promoter entity of Max Financial Services Ltd (MFSL) on Wednesday offloaded the company's shares worth Rs 94 crore through an open market transaction. MFSL is the holding firm for Max Life Insurance company. According to the block deal data available with the National Stock Exchange (NSE), Max Ventures Investment Holdings sold 14,99,997 shares of [...]
Equity benchmarks declined in initial trade on Thursday after a two-day rally, in line with a weak trend in global markets. Also, a weak trend in index major Reliance Industries and IT counters added to the pressure. The 30-share BSE Sensex fell 341 points to 57,873.59 after a weak beginning. The broader NSE Nifty declined [...]
Reliance Consumer Products Limited (RCPL), a wholly-owned subsidiary of Reliance Retail Ventures Limited, on Wednesday said it has expanded its play in the FMCG segment by launching its range of home and personal care products. RCPL, which has ambitions to be a relevant player in the FMCG segment, will now compete with the leading players [...]
Leading bourses NSE and BSE on Wednesday said they will include Adani Power under the short-term additional surveillance measure (ASM) framework from Thursday. Adani Power is shortlisted in short-term ASM framework Stage-I effective March 23, according to separate circulars available on the exchanges. The move also comes close on the heels of the two exchanges [...]
Return on Equity (ROE) is a measure of a company’s financial performance calculated by dividing its net income by shareholders’ equity. It is a good measure of a company’s profitability and how efficient its management is in generating profits. The higher a company’s ROE is, the more efficient its management is at generating income and [...]
Walmart Foundation on Wednesday announced its plan to support an additional 1 million smallholder farmers in India, with at least 50 per cent women, in the next five years. The foundation also announced two new grants, which include USD 3 million to TechnoServe for reaching out to 30,000 farmers and 24 farmer producer organisations (FPOs) [...]
The initial share sale of Udayshivakumar Infra was subscribed 5.15 times on the third day of subscription on Wednesday. The offer received bids for 10,29,54,972 shares against 2 crore shares on offer, according to data available with the NSE. The quota for non-institutional investors was subscribed 8.47 times, while the category for Retail Individual Investors [...]
Icra on Wednesday revised its outlook for domestic steel demand to 7-8 per cent for the next fiscal. Earlier, the ratings agency had estimated the demand to grow in the range of 6-7 per cent. "With the central government's capex outlay in FY2024, Icra has revised upwards its steel consumption growth estimate for FY2024 to [...]
