Wipro GE HealthCare on Thursday said it has appointed Chaitanya Sarawate as Managing Director of the company. He has also been designated as the President & CEO of GE HealthCare South Asia. Sarawate succeeds Shravan Subramanyam, who is leaving to pursue an opportunity outside the company, the company said in a statement. In his new [...]
Mahindra & Mahindra on Thursday said the Maharashtra government has approved its proposal to set up a Rs 10,000-crore electric vehicle plant in Pune under the state's industrial promotion scheme for EVs. The two sides signed an agreement to this effect at the World Economic Forum in Davos on Wednesday, M&M Ltd said in a [...]
State-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) on Thursday said it has bagged an order worth Rs 300 crore to renovate and modernise (R&M) steam turbines at Ukai thermal power station in Gujarat. Valued at about Rs 300 crore, the order for renovation and modernisation of 200 MW Unit-3 and 210 MW Unit-5, has [...]
Industry body Ficci has sought an increase in the import duty on aluminium and aluminium products to at least 12.5 per cent in the upcoming budget 2023-24, stating that the move will help curb dumping of aluminium products and encourage growth of the domestic manufacturing and recycling. The present import duty on aluminium and aluminium [...]
IFFCO, GCMMF (Amul), Kribhco, NAFED and NCDC will jointly promote a newly announced national-level export cooperative society with an authorised share capital of Rs 2,000 crore for the trading of goods and services in the cooperative sector. Last week, the Cabinet Committee on Economic Affairs (CCEA) approved a proposal to establish three new national-level multi-state [...]
Equity benchmarks declined on Thursday after a two-day rally, mirroring a weak trend in the US markets and fresh foreign fund outflows. Weak US consumer data and hawkish comments from the Fed's policymakers dragged markets lower. The 30-share BSE Sensex declined dropped 187.31 points or 0.31 per cent to settle at 60,858.43. During the day, [...]
International Road Federation (IRF), a global body advocating for safer roads, on Thursday said that it has made a plea to the government to do away with the GST imposed on helmets. At present a GST of 18 per cent is levied on helmets. "IRF...in a letter written to the Union finance minister Nirmala Sitharaman [...]
Toyota Kirloskar Motor on Thursday said Manasi Tata, daughter of late Vikram Kirloskar, will take over as its new Vice Chairperson with immediate effect. She will also take over as the Vice Chairperson of Toyota Kirloskar Auto parts (TKAP), Toyota Kirloskar Motor (TKM) said in a statement. "The resolution, passed in its board meeting, comes [...]
Electrical appliances maker Havells India Ltd on Thursday reported a 7.3 per cent decline in consolidated net profit to Rs 283.52 crore for the third quarter ended December 31, 2022, on account of higher raw material costs. The company had posted a consolidated net profit of Rs 305.82 crore in the same quarter last fiscal, [...]
The government should take measures to promote innovation and R&D while simplifying regulations for the sector in the upcoming Union Budget, as per pharmaceutical industry bodies. Outlining the wishlist for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain said the domestic pharma industry is currently around USD 50 [...]
The Piotroski score is a score between zero and ten, used to determine the best value stocks, with nine being the best and zero being the worst. It uses nine parameters to determine the strength of a firm's financial position. These parameters include net income, operating cash flow, quality of earnings, return on assets, leverage, [...]
Domestic benchmarks BSE Sensex and NSE Nifty50 opened lower on Thursday amid largely negative cues from global markets. Losses in IT shares led the headline indices lower. The Sensex was at 60,832.20 points, down 0.38% and the Nifty was at 18,102.65 points, down 0.35% at 02:38 PM on Thursday. Here are three stocks that hit [...]
On Wednesday, the State Bank Of India (SBI), one of India’s biggest banks raised over ₹ 9,700 crores by issuing its infrastructure bonds in its second tranche. SBI stated that it raised ₹9,718 crores through its second infrastructure bond issuance, at a coupon rate of 7.7 percent per annum for a tenure of 15 years. [...]
Asian Paints Ltd on Thursday reported a 6.4 per cent rise in consolidated net profit at Rs 1,097.06 crore in the third quarter ended December 2022. The company had posted a consolidated net profit of Rs 1,031.29 crore in the same period last fiscal, Asian Paints said in a regulatory filing. Consolidated revenue from operations [...]
The shares of Rallis India fell 6.80% to reach an intraday low of ₹ 228.80 apiece on the National Stock Exchange (NSE) after the company declared its results for the October to December quarter (Q3FY23). Rallis India shares were trading at ₹ 231.75, down 5.58% at 12:37 PM on Thursday. 1342570 shares changed hands on [...]
Vedanta's Cairn Oil & Gas on Thursday announced the appointment of Nick Walker as the new chief executive officer (CEO) of the company. In a statement, the company said the appointment is effective January 5. "Before this appointment, Walker was president and chief executive officer at Lundin Energy, one of the leading European independent E&P [...]
Industry body CMAI on Thursday said it has signed an agreement with AREAS to ensure exchange of knowledge on policy and regulatory related developments and innovation in carbon market and enhance setting up of renewable energy projects. AREAS (Association of Renewable Energy Agencies of States) is a society which has been set up for regular [...]
Walmart-owned digital payments app Phonepe on Thursday said it has raised USD 350 million at a valuation of USD 12 billion in a funding round led by private equity firm General Atlantic. "Marquee Global and Indian investors are also participating in the round," PhonePe said in a statement adding the investment marks the first tranche [...]
The commerce department is in talks with the Australian government for bringing in investments in clean air technology, mining, education, and research and development in the country, additional director general of foreign trade Tapan Mazumder said on Wednesday. The Department of Commerce is having talks with the Australian government for bringing in investments in clean [...]
Maruti Suzuki India on Thursday said it has commenced exports of mid-sized sports utility vehicle Grand Vitara, with the first shipment on its way to Latin America. The country's leading carmaker and exporter aims to export the model to more than 60 countries across Latin America, Africa, Middle East, ASEAN and neighboring regions. "Supporting Government's [...]
