Equity benchmarks extended their rally for the second straight session on Wednesday amid buying in index heavyweights HDFC twins and foreign funds inflows. Recovery in most of the Asian markets and positive start in European equity exchanges also added to the momentum. The 30-share BSE Sensex climbed 390.02 points or 0.64 per cent to settle [...]
Steel manufacturer Tata Steel has set up a Centre for Innovation in Mobility at the Indian Institute of Technology, Madras Research Park here, to develop application technologies for current and future mobility platforms, the company said on Wednesday. The Centre would work closely with academia and the mobility industry. It has facilities for Computer Aided [...]
Corporate funding in the global solar sector declined 13 per cent year-on-year to USD 24.1 billion in 2022, according to a Mercom Capital report. Corporate funding includes venture capital and private equity (VC and PE), debt financing, and public market financing. "Total corporate funding in 2022 (first nine months) stood at USD 24.1 billion, 13 [...]
Abrasives and precision component manufacturer Wendt India on Wednesday reported standalone profit after tax at Rs 11.45 crore for the October-December 2022 quarter. The Murugappa group company had registered a standalone profit after tax at Rs 6.76 crore during corresponding quarter of previous year. In a BSE filing, the company said the increase in profit [...]
On Wednesday, shares of PTC India were locked in the upper circuit and climbed to the ₹100 mark at 9.50 A.M. The shares of the power trading company rose after reports suggested various interested buyers including names such as Tata Power, Adani Group, Greenko, and JSW Energy. In the past month, the small-cap energy stock [...]
State-owned Central Bank of India on Wednesday reported 64 per cent jump in profit at Rs 458 crore for December quarter 2022-23, aided by a decline in bad loans and improvement in Net Interest Income (NII). The Mumbai-based bank had posted a net profit of Rs 279 crore in the year-ago period. The bank's total [...]
In statistical hypothesis testing, a critical value is a point on the test distribution that is used to determine the rejection region, also known as the acceptance region. The critical value separates the area where the null hypothesis is rejected from the area where it is not rejected. In this article, we will explore the [...]
Agro Chem Federation of India (ACFI) has demanded that the government should cut import duty on crop protection chemicals in the upcoming budget and also provide fiscal incentives to private players for undertaking research. The ACFI is an industry body representing manufacturers/ importers of technical and formulation of pesticides at the pan-India level. "India presently [...]
Ace investor Ashish Kacholia increased his stake in Gravita India in the December quarter of the financial year (Q3FY23). The company’s shares were trading at ₹ 449.35 apiece at 02:58 PM on the National Stock Exchange (NSE). Gravita India is one of the largest lead producers in India. Its business is organized across four specialized [...]
Women from tier 2 cities have been enthusiastically participating to be a part of the workforce and have also started opting for unconventional roles for flexibility and better income opportunities, says a report. In 2022, jobs and professional networking platform 'apna' witnessed more than 31 million professional conversations among women from tier 1, tier 2, [...]
Adani Green Energy arm Adani Renewable Energy Holding Two Ltd will acquire 50 per cent equity in Essel Saurya Urja Company of Rajasthan Ltd from Essel Infraprojects for Rs 15 crore. Adani Renewable Energy Holding Two Ltd (ESUCRL) has entered into a binding term sheet with Essel Infraprojects Ltd on January 17, 2023 to this [...]
Prices of luxury properties appreciated by 8-12 per cent during the last year across major cities and has breached the 2015 peak level, according to India Sotheby's International Realty. In its annual 'Luxury Outlook Survey 2023', India Sotheby's International Realty (ISIR) revealed that 61 per cent of High-Net-worth Individuals (HNIs) and Ultra High-Net-worth Individuals (UHNIs) [...]
Ahead of the Budget session of Parliament, the finance ministry has sought expenditure proposals for the second and final batch of Supplementary Demands for Grants from various ministries and departments. The final batch of Supplementary Demands for Grants for 2022-23 is proposed to be placed before Parliament in the ensuing session, the ministry said in [...]
The shares of Adcon Capital services gained 4.81% on Wednesday and were locked at ₹ 5.01 apiece, at an upper circuit. Its shares have been on a gaining streak since November 2022. Incorporated in 1994, Adcon Capital Services Ltd is a Non-deposit taking NBFC (Non-Banking Financial Company). It is engaged in the business of providing [...]
Automobile after-sales service startup GoMechanic co-founder Amit Bhasin on Wednesday admitted to errors in financial reporting, following which a forensic audit has been ordered and a business restructuring undertaken which will see 70 per cent of the 1,000-odd workforce being laid off. Nearly two years after it raised a mammoth USD 42 million in funding, [...]
360 ONE (earlier known as IIFL Wealth & Asset Management) on Wednesday said it has completed the acquisition of controlling stake in early-stage venture investments platform Mumbai Angels. Mumbai Angels, one of the leading players in the early-stage investment space, will now be looking at deals with a deeper penetration in the early-stage startup pool, [...]
Homegrown Salasar Techno Engineering Ltd (STEL) on Wednesday said it has secured a Rs 143 crore contract from the Nepal government. "The order is for procurement of materials, associated accessories and necessary installation services including design and commissioning of 33/11 KV substations and 33 KV, 11 KV, 400 V lines and distribution systems networks," the [...]
With a market capitalization of ₹ 454.52 crores, Shreeji Translogistics (formerly, Shreeji Transport Services) is a major logistics solutions provider in India. It has a rich industry experience of over four decades and its services include the movement of export-import containers, freight management, warehousing services, and bonded trucking. The company informed the bourses that it [...]
Uttar Pradesh has received investment commitments of about Rs 2 lakh crore in the solar energy and related sectors, state energy minister A K Sharma said. UP has launched 'Uttar Pradesh Solar Energy Policy 2022' which aims to set up 22 gigawatt (GW) of green energy projects by 2027 in the state, Sharma told PTI [...]
As many as 4 in 5 Indian professionals are considering job change this year and are keen on switching to roles that offer the right wage, and allows for appreciable work-life balance and flexibility, says a report. According to LinkedIn's economic graph data, hiring level in India was 23 per cent slower in December 2022 [...]
