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 [...]
Auto-tech firm CarDekho Group on Monday said it has narrowed total losses to Rs 246 crore in 2021-22. The group had posted a total loss of Rs 341 crore in FY21, CarDekho said in a statement. The revenue from operations in FY22 increased to Rs 1,598 crore from Rs 884 crore in FY21, it added. [...]
The shares of Moil Ltd were trading 5 percent higher at Rs 167.80 levels till the afternoon on Monday against its previous close of Rs 161.05. The stock scaled higher after the company’s production and sales last month reached a record high. The company has registered the best December production of 1,41,321 in 2022. This [...]
Bajaj Auto Ltd on Monday reported a 22 per cent decline in total sales to 2,81,486 units in December 2022. The company posted a total sales of 3,62,470 units in December 2021, Bajaj Auto said in a statement. The two-wheeler sales slipped 23 per cent to 2,47,024 units from 3,18,769 units in the year-ago month, [...]
The RBI on Monday said state-owned SBI, along with private sector lenders ICICI Bank and HDFC Bank continue to be Domestic Systemically Important Banks (D-SIBs) or institutions which are 'too big to fail'. SIBs are perceived as banks that are 'too big to fail (TBTF)'. This perception of TBTF creates an expectation of government support [...]
The Centre on Monday said an additional 19 first mile connectivity projects of state-owned CIL and SCCL will be implemented by 2026-27. First mile connectivity refers to the transportation of coal from pitheads to dispatch points. "The Ministry of Coal will be taking up additional 19 First Mile Connectivity (FMC) projects for Coal India Ltd [...]
Automaker Kia India on Monday reported a 94.7 per cent increase in domestic sales at 15,184 units in December. The company had sold 7,797 units in the year-ago period. In the calendar year 2022, the company said it witnessed a growth of 47.7 per cent with cumulative sales of 3,36,619 units. Its sales in 2021 [...]
Nissan Motor India on Monday reported a 28 per cent rise in total wholesales at 8,991 units in December 2022. The company had sold a total of 7,026 units in the same month a year ago, Nissan Motor India said in a statement. Domestic sales were down 32.89 per cent last month at 2,020 units [...]
State-owned NMDC on Monday announced that it has hiked the prices of iron ore lumps by Rs 200 to Rs 4,300 per tonne. The country's largest iron ore miner has also increased rates of iron ore fines by Rs 500 to Rs 3,410/tonne, NMDC said in a regulatory filing. The prices are effective January 1, [...]
The Indian economy recovered from the COVID-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue. The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds [...]
Equity benchmarks started the first day of trade of the New Year on a positive note and ended with smart gains, propelled by buying in index majors Reliance Industries and ICICI Bank amid a firm trend in European markets. The 30-share BSE Sensex climbed 327.05 points or 0.54 per cent to settle at 61,167.79 on [...]
