In the year 2022, the Indian stock market stood tall and resilient amid headwinds like the geo-political crisis, inflation, and massive FII selling. In fact, it outperformed many major markets. Insurance behemoth, the Life Insurance Corporation of India (LIC) got listed on the bourses last year and it has already made investments in many Indian [...]
Society of Manufacturers of Electric Vehicles on Tuesday sought extension of subsidies for EVs under the FAME II scheme and also include light to heavy commercial vehicles in it to promote electric mobility. In its pre-Budget recommendations, the industry body also called for a uniform 5 per cent GST on spare parts for electric vehicles. [...]
State-owned Bank of Maharashtra (BoM) on Tuesday said it has posted a credit growth of 21.81 per cent to Rs 1.57 lakh crore for the third quarter ended December 2022. The outstanding credit was Rs 1.29 lakh crore at the end of December 31, 2021, BoM said in a regulatory filing. The bank's deposits aggregated [...]
The Indian economy and exports will be moderately impacted in 2023 by weak global demand and recession in large economies and to improve its current account, the country should aim at reducing energy import bill, economic think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) said that in 2022, India will pay [...]
Domestic equity benchmarks turned green in the intraday trade after opening in the red territory on Tuesday amid mixed sentiment in global markets. The Nifty Bank index was trading 128 points or 0.25% higher on Tuesday at 43,317 levels. Here are 3 bank stocks that gained more than 5 percent on Tuesday after they announced [...]
The Indian Railways registered earnings of approximately ₹ 48,913 crores in the nine months ended December (April 2022 to December 2022). This is an escalation of 71% as compared to ₹ 28,569 during the corresponding period last year. The number of passengers with reserved bookings rose to 59.61 crores, up 6.35% as compared to 56.05 [...]
The Indian markets have started the new year on a happy note as the benchmark indices opened higher in green on Monday. With the new year, Indian companies have transitioned from Q3 to the last quarter and are set to release their earnings for the period. Here are two Tata stocks that remained in focus [...]
Online food delivery platform Zomato Ltd said its Co-founder and Chief Technology Officer Gunjan Patidar resigned from the post on Monday. Patidar was one of the first few employees of Zomato and built the core tech systems for the company, it said in a regulatory filing. "Over the last ten plus years, he also nurtured [...]
Maruti Suzuki India on Tuesday reported a 28 per cent rise in exports at 2,63,068 units in 2022, its highest ever overseas shipments. The company's previous highest exports was achieved in 2021 with 2,05,450 units. The highest exported models in 2022 were Dzire, Swift, S-Presso, Baleno and Brezza, the company said in a statement. "Crossing [...]
Public-private partnership in port infrastructure has been an important source of investment in the sector and the Ministry of Ports, Shipping and Waterways (MoPSW) has a pipeline of 44 projects for total investment of Rs 22,900 crore till 2024-25, Union Minister Sarbananda Sonowal said on Tuesday. Moreover, the government is working on the guidelines for [...]
Prices of refrigerators are likely to increase by up to 5 per cent as the revised norms of the Bureau of Energy Efficiency (BEE) have become applicable from January 1 this year. According to manufacturers like Godrej Appliances, Haier and Panasonic, implementation of the new norms may put an additional burden of 2-5 per cent [...]
The Indian Performing Right Society (IPRS) Ltd has moved the insolvency tribunal NCLT against Zee Entertainment Enterprise Ltd, claiming a default of Rs 211.41 crore, the media major said in a regulatory filing. However, Zee Entertainment Enterprise Ltd (ZEEL) added that it "will be filing its reply rejecting the claim on, inter alia, the ground [...]
Vedanta group firm Hindustan Zinc on Monday said its mined metal output registered a marginal rise of one per cent to 2,54,000 tonnes in the third quarter of the current fiscal. The company's mined metal production was 2,52,000 tonnes in the year-ago period. In a statement, the company said that the mined metal production stood at [...]
Grounded carrier Jet Airways on Monday said Sanjiv Kapoor remains the CEO-designate of the company till the airline's ownership is transferred to the consortium by the lenders. Earlier CNBCTV18 reported that the head of the Jet Airways management committee and erstwhile Resolution Professional Ashish Chhawchharia in a notice to Kapoor has asked him to refrain [...]
Food and grocery delivery platform Swiggy has reported a widening of its net loss to Rs 3,628.9 crore for FY22. The company had posted a net loss of Rs 1,616.9 crore in the previous fiscal. According to the financial data accessed by the business intelligence platform Tofler, the company's revenue from operations stood at Rs [...]
Hinduja Leyland Finance, a non-banking financial entity and a subsidiary of heavy commercial vehicles-maker Ashok Leyland, on Monday announced the revision in ratings by CARE Ratings. CARE has upgraded the long-term rating of the company to 'AA' (double A). "This rating applies to long-term bank loan facilities, non-convertible debentures, market-linked debentures and subordinated debt," said [...]
The Aam Aadmi Party (AAP) on Monday accused the Maharashtra government of conspiring to hand over state-run electricity distribution company Mahavitaran to the private conglomerate Adani group. The Arvind Kejriwal-led outfit fully supports the proposed strike on January 4 called by a section of state electricity workers in Mumbai, Thane, Nashik, Raigad and other districts [...]
Payments through the Unified Payments Interface (UPI) touched a record high of Rs 12.82 lakh crore in December. During the month, 782 crore transactions in volume terms were done on the platform, which was launched in 2016. "UPI has made major contribution in ushering digital payment revolution in the country. In December 2022, UPI has [...]
Equity benchmarks declined in early trade on Tuesday amid mixed trends in Asian markets and continuous foreign fund outflows. The 30-share BSE Sensex went lower by 159.01 points to 61,008.78. The broader NSE Nifty dipped 47.65 points to 18,149.80. From the Sensex pack, Reliance Industries, Bharti Airtel, Hindustan Unilever, ITC, Mahindra & Mahindra, Tata Steel, [...]
The Initial Public Offer (IPO) of Sah Polymers was subscribed 2.37 times on the second day of subscription on Monday. The IPO received bids for 1,33,06,420 shares against 56,10,000 shares on offer, according to NSE data. The category meant for Retail Individual Investors (RIIs) was subscribed 7.46 times, while the portion for non-institutional investors received [...]
