The Central government will soon launch an information technology server and IT hardware production linked incentive (PLI) scheme, and also offer additional incentives for manufacturers that incorporate Indian-designed intellectual property into their products, Union Minister of State for Electronics and IT Rajeev Chandrasekhar said on Tuesday. Virtually addressing the VLSI Design Conference 2023 that began [...]
State-owned Coal India Ltd (CIL) has issued the letter of acceptance for nine coal mining projects, having a production capacity of around 127 million tonnes, to be operationalised through engagement of mine developer and operators. Another six mining projects are at different stages of implementation. "The state-owned coal miner is tracking a total of 15 [...]
The mutual fund industry added Rs 2.2 lakh crore to its asset base in 2022, driven by consistent monthly increase in SIP (Systematic Investment Plan) flows. The Assets Under Management (AUM) of the mutual fund industry rose by 5.7 per cent or Rs 2.2 lakh crore to a total Rs 39.88 lakh crore in 2022, [...]
The shares of Shriram Asset Management Company Limited hit an upper circuit of 19.99 percent at Rs 145.25 levels on Tuesday’s session. In the past five days, the stock has zoomed by approximately 35 percent. The board of the company announced that they have approved the appointment of Kartik Jain as its new MD and [...]
Saudi Crown Prince Mohammed Bin Salman has directed authorities to study augmenting the Gulf Kingdom's investments in Pakistan to reach USD 10 billion and increasing its deposit to the cash-strapped country's central bank to USD 5 billion, a media report said on Tuesday. Pakistan's economic situation is facing severe headwinds with inflation being forecast to [...]
Zydus Lifesciences Ltd on Tuesday said it has received final approval from the US health regulator to market its generic version of Febuxostat tablets used to treat high uric acid in the blood. The approval granted by the US Food and Drug Administration (USFDA) to market Febuxostat tablets is for strengths of 40 mg and [...]
President Ranil Wickremesinghe has instructed his ministries to slash five per cent of their estimated expenditure allocated in this year's Budget as Sri Lanka's Treasury was facing an acute shortage of funds, exacerbating fears that the cash-strapped country's economic crisis could be even worse than previously anticipated. Sri Lanka is in the midst of its [...]
Auction of as many as 132 coal mines will be conducted this month under the sixth tranche in states including Odisha, Jharkhand, Chhattisgarh, West Bengal among others, according to MSTC CMD Surinder Kumar Gupta. MSTC, under the Ministry of Steel, conducts e-auction of various materials and minerals and mines. This will be the sixth tranche [...]
The shares of Aries Agro slipped 2.67% on Tuesday, to reach an intraday low of ₹ 204.20 apiece after ace investor Dolly Khanna reduced a stake in the company. Its shares were trading at ₹ 206.30 apiece on the National Stock Exchange (NSE) at 01:00 PM. The Chennai based investor has been investing in the [...]
Real money gaming companies are companies that offer online games or platforms that allow users to participate in games of chance or skill for real money. These companies are popular in India, where a large portion of the population is interested in gaming and gambling. We reached out to MyBetting, the most well-established authority on [...]
The shares of Sona BLW Precision Forgings surged 8.37% on Tuesday’s early trades to reach an intraday high of ₹ 457.85 apiece on the National Stock Exchange (NSE). It is a mid-cap company with a market capitalization of ₹ 24,714 crores. The company announced the acquisition of a 54% stake and voting rights in Novelic, [...]
The shares of Tata Motors Limited gained as much as 7 percent in the early hours on Tuesday as the stock reached an intraday high of Rs 415.80. Similarly, Tata Motors DVR was also trading 5 percent higher at Rs 219 levels. The shares gained after the company’s global wholesales in Q3FY23, including Jaguar Land [...]
With the opening up of the economy post the COVID pandemic, Knight Frank on Tuesday said housing sales rose 34 per cent to a 9-year high and gross office leasing grew 36 per cent during 2022 across eight major cities. While housing sales rose 34 per cent to 3,12,666 units in 2022 across eight major [...]
India has exported 16.92 lakh tonnes of sugar till January 4 of the ongoing 2022-23 marketing year, including 59,596 tonnes of the sweetener to neighbouring China, trade body AISTA said on Tuesday. Among other neighbouring nations, India has exported 1.47 lakh tonnes of sugar to Bangladesh, and 82,462 tonnes to Sri Lanka during October-January 4 [...]
The shares of Titan Company Limited gained marginally on Tuesday and were trading at Rs 2,486 levels. Yesterday, the shares shed approximately 2 percent after the company failed to meet the expectation of analysts. In the October-December quarter or Q3, the company reported a growth of 12 percent whereas the street expected the company to [...]
The government on Monday extended the term of the deputy governor of the Reserve Bank of India (RBI), Michael Debabrata Patra, by a further period of one year. Patra's three-year tenure was coming to an end on January 14. The Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi, has approved Patra's re-appointment [...]
The Bombay High Court on Monday pulled up the Central Bureau of Investigation (CBI) for arresting former ICICI Bank CEO-cum-MD Chanda Kochhar and her businessman-husband Deepak Kochhar in a "casual and mechanical" manner and "clearly without application of mind" in an alleged loan fraud case as it granted them interim bail. The CBI arrested the [...]
Shares of TCS declined nearly 3 per cent in initial trade on Tuesday after the company's December quarter results failed to cheer investors. The stock fell 2.67 per cent to Rs 3,231 apiece on the BSE. At the NSE, it declined 2.70 per cent to Rs 3,230.10 apiece. It was the biggest laggard among the [...]
Institutional investments in retail real estate jumped over six fold to USD 492 million in 2022, as businesses in shopping malls revived strongly post the COVID pandemic, according to Colliers India. In 2021, the retail real estate had attracted only USD 77 million institutional investments because of an adverse impact of the COVID pandemic on [...]
Union Home Secretary Ajay Bhalla on Monday reviewed the steps taken to revamp infrastructure at Delhi's IGI airport that include ramping up capacities, close monitoring and revised scheduling of air slots and de-cluttering of immigration counters. Top officials of the Ministry of Civil Aviation, Directorate General of Civil Aviation (DGCA), Bureau of Civil Aviation Security [...]
