India's forex reserves increased by USD 1.727 billion to USD 573.727 billion in the week ended January 20, the Reserve Bank of India said on Friday. This is the second consecutive week of a rise in the kitty after the USD 10.417 billion jump to USD 572 billion during the preceding week. In October 2021, [...]
Hospitality and travel-tech firm OYO estimates its revenue in 2022-23 to be USD 751 million on the back of which it expects to post its first operating profit in a full year, company Founder and Group CEO Ritesh Agarwal has told its employees. At an employees townhall held this week, Agarwal is understood to have [...]
Aviation regulator DGCA on Friday imposed a Rs 10 lakh fine on Go First for the incident wherein 55 passengers were left behind in a passenger coach at Bangalore airport on January 9. The Directorate General of Civil Aviation (DGCA) had issued a show-cause notice to the airline following the incident. "Perusal of (the) reply [...]
Vedanta Ltd on Friday reported a 40.8 per cent drop in consolidated net profit to Rs 2,464 crore for the third quarter ended December 2022 on higher input costs. The company posted a consolidated net profit of Rs 4,164 crore in the year-ago period, Vedanta Ltd said in a BSE filing. However, the consolidated income [...]
Equity benchmarks Sensex and Nifty plunged over 1 per cent for a second straight session on Friday dragged down by heavy selling in banking, financials, and oil stocks amid foreign fund outflows. Massive selling in the Adani group stocks also added to the overall bearish trend. The 30-share BSE benchmark tanked 874.16 points or 1.45 [...]
Bears pounded the shares of Dixon Technologies and the stock suffered deep cuts. The shares of the contract manufacturer tanked 20% on Friday’s trades to reach a 52-week low of ₹ 2642.50 apiece on the National Stock Exchange (NSE). This marked its steepest single-day fall since its listing in 2017. The drop came after the [...]
State-owned CIL intends to produce sand using overburden rocks lying at its various coal mines and the operation of five such sand plants is likely to commence by next year, the government said on Friday. Under the 'overburden (OB) rocks-to-manufactured sand' initiative, Coal India Ltd (CIL) facilitates processing of waste overburden at its open cast [...]
Indian stock markets on Friday achieved a complete transition to a shorter settlement cycle or T+1 regime, a move that will bring significant capital efficiencies to the investors and improve risk mitigation for the entire industry. T+1 (trade plus one) means that market trade-related settlements will need to be cleared within one day of the [...]
The shares of Automotive Stampings and Assemblies Limited, a Tata group company, opened at Rs 349.70 and gained as much as 10 percent in the early hours on Friday to reach an intra-day high of Rs 383. The scrip jumped as the company reported strong earnings. In Q3FY23, the total income of the company stood [...]
Chemicals maker Anupam Rasayan India Ltd on Friday posted a 43.61 per cent jump in its consolidated net profit to Rs 54.43 crore in the third quarter of the current fiscal. The company's net profit stood at Rs 37.90 crore in the same quarter of the previous fiscal, according to a regulatory filing. Total revenue [...]
Homegrown automaker Bajaj Auto’s shares accelerated by as much as 7.47% to reach an intraday high of 3995.00 apiece, on the back of healthy quarterly results. Its shares were trading at ₹ 3,958.05 apiece at 12:26 PM on Friday. Bajaj Auto was one of the top gainers in the Nifty 50 index, amid an otherwise [...]
Hindenburg Research, an American investment research firm, has made some serious allegations against the Adani group. In its report, the firm alleged that the Adani Group is pulling the “biggest con in corporate history”. The report also alleged that the company is engaged in a “brazen stock manipulation and accounting fraud scheme”. It has accused [...]
The shares of Tata Motors vroomed 8.20% on Friday’s early trades to reach an intraday high of ₹ 453.40 apiece after the company swung to make a profit after a hiatus of seven quarters. They were quoting at ₹ 444.55 apiece, up 6.09% at 11:35 AM on Friday. The waning impact of the semiconductor chip [...]
Green Hydrogen is an environment-friendly gas that has caught the attention of some of the largest companies and governments around the world, as they are trying to pivot to a more sustainable source of energy. Green Hydrogen is one of the cleanest forms of energy in the world and is one of the ultimate solutions [...]
Realty major DLF Ltd plans to launch a luxury housing project in Gurugram next month with an estimated sales revenue of around Rs 7,500 crore as it seeks to tap strong demand for high-end apartments. The company plans to develop around 1,100 apartments in this residential project, DLF Group Executive Director and Chief Business Officer Aakash [...]
The Ministry of Ports, Shipping and Waterways will invite expressions of interest (EOI) from interested players for a Rs 41,000 crore international transhipment port project at Great Nicobar Island in the Bay of Bengal. The ministry in a release on Friday said that the project is expected to be complete with an investment of Rs [...]
Debt-ridden Vodafone Idea's board will meet on Tuesday to discuss a proposal to issue Rs 1,600 crore debentures to mobile tower vendor ATC Telecom Infrastructure. Vodafone Idea (VIL) and ATC had agreed to extend the last date to issue optionally convertible debentures (OCD) till February 28 after the shareholder's approval to issue the debentures lapsed [...]
The Adani Group on Thursday said it is examining legal options to take "punitive action" against Hindenburg Research for its "reckless" attempt to sabotage a mega share sale at the conglomerate's flagship firm - a statement that the US activist investor responded by saying it stands by its report that alleged "brazen" market manipulation and [...]
The CBI has filed an FIR against telecom infrastructure major GTL for allegedly diverting a substantial portion of a Rs 4,760 crore loan availed from a consortium of banks led by IDBI Bank, officials said. The agency has booked the company, unidentified directors, public officials and vendors under IPC sections related to criminal conspiracy, cheating [...]
India and Egypt have reaffirmed their commitment to the founding values of the Non-Aligned Movement (NAM), international law and respect for the sovereignty and territorial integrity of all states. It was mentioned in a joint statement released on Thursday, a day after Prime Minister Narendra Modi and visiting Egyptian President Abdel Fattah El-Sisi held wide-ranging [...]
