Tata Motors on Monday said it will supply 25,000 XPRES–T electric vehicle units to Uber in one of the largest deals in the green mobility space till date. As per a memorandum of understanding inked between the two entities, Uber will utilise the electric sedans in its premium category service, the companies said in a [...]
Domestic benchmark gauges started the week with marginal gains. The 30-share BSE Sensex was trading 0.049% higher at 61036.58 points, while the 50-share NSE Nifty 50 was quoting at 17,936.65 points, down 0.042% at 11:43 AM on Monday. Financial and FMCG shares were trading in the green, but metal and mining shares traded with losses. [...]
The shares of Lumax AutoTechnologies Limited gained as much as 10 percent in the early hours of Monday and were trading at Rs 239 levels after the company announced an acquisition and its quarterly results. The company has signed an agreement to acquire a majority stake in IAC International Automotive India Private Limited from the [...]
Kriti Industries India Limited, a reputed manufacturer of plastic polymer piping systems, saw its shares open at Rs 94 levels and gain as much as 18 percent to reach an intra-day high of Rs 110.15 levels. The company is engaged in the manufacturing of premium quality piping products and solutions, accessories, gas pipes, telecom ducts, [...]
Tony Jesudasan, a key lieutenant of Anil Ambani's Reliance group and one of the finest corporate communications and corporate affairs professionals, died early on Monday morning. He was 71. Earlier this month, Jesudasan had suffered a heart attack just as he took a flight from Bhopal, sources said. He was rushed to Fortis Hospital on [...]
The Broadband India Forum (BIF) on Monday announced that former telecom secretary Aruna Sundararajan has joined the industry body as the chairperson, with immediate effect. Sundararajan will guide the forum in its mission of improving affordable broadband proliferation and usage access in India, according to a statement from BIF. "BIF today welcomed Aruna Sundararajan IAS [...]
The shares of Karnavati Finance, a micro-cap company reached a fresh 52-week high of ₹ 190.80 apiece on Monday’s early trades after its shares gained 4.98% on the National Stock Exchange (NSE). Its shares were locked in an upper circuit. Karnavati Finance offers end-to-end lending, financing and wealth management solutions to a diversified range of [...]
Net interest income of banks grew by a record 25.5 per cent to Rs 1.78 lakh crore in the December 2022 quarter on-year, driven by a healthy credit off-take and higher yield on advances, according to an analysis. The quarter saw banks booking higher yields on advances as the system-wide core profitability metric net interest [...]
The finance ministry has called a meeting of heads of public sector banks and top four private sector lenders to review the progress of the emergency credit line guarantee scheme (ECLGS) to help businesses affected by COVID-19. The meeting is scheduled to be held on February 22 to review progress on ECLGS and Loan Guarantee [...]
The country's largest two-wheeler maker Hero MotoCorp plans to expand its electric two-wheeler range over the next 18-24 months as it looks to cater to demand across multiple customer segments, according to a senior company official. The company, which has already commenced sales of its electric scooter under Vida brand across Delhi, Bengaluru and Jaipur, [...]
Tata Consultancy Services (TCS) is not considering any layoffs as it believes in grooming talent for longer careers once it hires an employee, a top official has said. The country's largest information technology services exporter is also looking to hire startup employees who have lost their jobs, its chief Human Resources officer Milind Lakkad told [...]
Strengthening multilateral development banks to address shared global challenges of the 21st century, financing for resilient, inclusive and sustainable 'cities of tomorrow' are some of the key agenda items for first G20 Finance Ministers & Central Bank Governors' meeting to be held at Bengaluru later this month. The First Finance Ministers & Central Bank Governors [...]
The government is likely to put on sale six mineral blocks, including four iron ore mines, in the current month. The move would give a boost to mining sector's contribution to the country's gross domestic product. The four iron ore blocks, situated in Chhattisgarh, are likely to be auctioned on Tuesday, according to the mines [...]
Public sector asset reconstruction company NARCL is likely to revive Srei Infrastructure Finance Ltd (SIFL) and wind up the group's equipment financing arm SEFL after recovering outstanding debt in seven years, a source said on Sunday. NARCL (National Asset Reconstruction Company) on Wednesday won the bid to take over the two Srei group firms -- [...]
Samvardhana Motherson Automotive Systems Group BV (SMRPBV) on Sunday said it has inked a pact to acquire Germany-based SAS Autosystemtechnik GmbH at an enterprise value of 540 million euros (around Rs 4,789 crore). The company, a unit of Samvardhana Motherson International Ltd (SAMIL), has entered into an agreement with FORVIA Group firm Faurecia to acquire [...]
Equity benchmark indices climbed in initial trade on Monday amid a positive trend in Asian markets. The BSE Sensex climbed 165.9 points to 61,168.47. The NSE Nifty advanced 35.25 points to 17,979.45. From the Sensex pack, Power Grid, HCL Technologies, ITC, Bharti Airtel, Hindustan Unilever, ICICI Bank, IndusInd Bank, Infosys, Tech Mahindra, NTPC and HDFC [...]
Currently, markets are trading range bound and valuations are fair with Nifty trading at ~18x FY24E EPS. Thus there is room for a modest upside but only if corporate earnings do not see material downgrades ahead. Motilal Oswal Financial Services The Nifty has fallen to the upper band of the falling channel on the daily [...]
Investors closely track investment/ divestment by FIIs as are considered both a trigger and a catalyst for the performance of the market. Inflows of money by institutional investors give investors confidence in the company in which they have invested. It helps them get broader trends and find what's happening in the market. In fact, the [...]
A dividend is the distribution of a company's earnings to its shareholders as a reward for investing in the company. It acts as a passive income for the investors in the market. Along with their quarterly results companies generally announced the payment of dividends. Here are some stocks trading ex-dividend next week Bharat Dynamics Ltd [...]
The equity market started on a shaky note on Monday and domestic benchmark gauges shed their marginal gains amid mixed cues from Asian markets. The 30-share BSE Sensex declined 196.61 points or 0.32 percent to 60,486.09 points while the NSE Nifty fell 38.50 points or 0.22 percent to 17,818 points. On Friday, The BSE Sensex closed [...]
