The shares of Lotus Chocolate Company Ltd were locked in an upper circuit of 5 percent at Rs 122.95 levels on Friday. In the last five days, the shares of the company have been hitting the upper circuit and have gained approximately 25 percent. The stock gained after Reliance Retail, the retail arm of Reliance [...]
In a bid to give a fillip to mine tourism, eight eco-parks have been constructed recently in different parts of the country and two more will be completed in the ongoing financial year, the government said on Friday. The said eco-parks are being developed on reclaimed land. Coal and mines minister Pralhad Joshi had inaugurated [...]
Shareholders of Dish TV have again rejected the proposal for the adoption of audited standalone and consolidated financial statements for FY21 and FY22 in the AGM held on Thursday. Earlier, the shareholders of the Direct-to-Home service provider had rejected the proposals to approve the balance sheet of the company for the last two fiscals in [...]
Multilateral funding agency Asian Development Bank (ADB) has sanctioned USD 100 million (about Rs 830 crore) to Shriram Finance Limited (SFL) to provide vehicle loans to women entrepreneurs. The USD 100 million External Commercial Borrowing (ECB) is a five-year loan and is under SFL's Social Finance framework to provide credit towards the purchase of new [...]
Reliance Industries Ltd and its partner bp plc of the UK have sought bids for the sale of natural gas from the eastern offshore KG-D6 block at a price linked to the rate at which LNG is delivered to Japan and Korea. The two partners invited bids for the sale of 6 million standard cubic [...]
A total of 19,478 road accidents occurred in 2021 due to loss of control by the driver due to inappropriate speed, distraction or misjudging a curve, which claimed 9,150 lives while 19,077 people were injured, according to a report released by the Ministry of Road Transport and Highways (MoRTH). The report titled 'Road accidents in [...]
The Adani Group on Friday said it has acquired 27.26 per cent equity stake in NDTV from Prannoy Roy and his wife Radhika Roy -- founders of the news broadcaster. "RRPR, an indirect subsidiary of the company and member of the promoter/promoter group of NDTV, has acquired a 27.26 per cent equity stake in NDTV [...]
The commerce ministry has sought a reduction in the import duty on gold in the forthcoming budget with a view to push exports and manufacturing of the gems and jewellery sector, sources said. In July this year, the centre hiked gold import duty to 15 per cent from 10.75 per cent to check the current [...]
The insurance sector in India got a boost recently after the finance ministry proposed amendments that would allow insurers to obtain a common license for all insurance businesses instead of multiple licenses that are currently required to sell insurance products. In addition to that, the government will now allow the distribution of other financial products [...]
The cryptocurrency market arose spontaneously and, in fact, is still in its infancy. The reputation of a relatively young financial industry is no longer perfect. Ideally, the decentralization and anonymity of cryptocurrencies, combined with the lack of control by government agencies, including intelligence agencies, should serve the benefit of humanity. In practice, these opportunities are [...]
The shares of Craftsman Automation zoomed 13.87% to reach a record high of ₹ 3,710.95 apiece on the National Stock Exchange (NSE). Its shares were quoted at ₹ 3635.00 apiece at 12:31 PM on Friday. The engineering company informed the bourses that it has entered into a definitive agreement on 29th December 2022, to acquire [...]
The shares of Punjab and Sind Bank inched up by 4 percent in the early hours on Friday as the stock was trading at Rs 33.35 levels. The stock jumped ahead of the board meeting scheduled today i.e, December 28th, 2022 to consider a proposal for raising funds of up to Rs 250 Crore by [...]
The shares of Bikaji Foods International escalated 25% in the past five days from ₹ 365.45 apiece to ₹ 466.80 to reach a new high on Friday’s early trades. Its shares hit the 5% upper circuit for five days in a row. Bikaji Foods is one of India’s largest fast-moving consumer goods ("FMCG") brands. Its [...]
Power company Skipper Limited on Friday said it has secured new orders worth Rs 2,570 crore from Bharat Sanchar Nigam Ltd (BSNL). The contract is for the supply and erection of ground-based telecom towers, infrastructure as a service provider (IaaSP) for supply, installation of infrastructure items and subsequent O&M (operations and maintenance). The projects are [...]
IRB Infrastructure Developers on Thursday said its special purpose vehicle -- Udaipur Tollway Limited -- has raised Rs 700 crore through issuance of redeemable non-convertible debentures on a private placement basis. According to a statement, the Special Purpose Vehicle (SPV) will use proceeds to refinance the existing project debts. "The NCD (Non-Convertible Debenture) proceeds from [...]
Shares of electronics manufacturing services company Elin Electronics made a muted market debut on Friday, listing with a discount of nearly 2 per cent, against the issue price of Rs 247. The stock made its debut at Rs 243, a decline of 1.61 per cent against the issue price on the BSE. It later fell [...]
New Delhi, Dec 29 (PTI) Capital markets regulator Sebi on Thursday imposed a Rs 90 lakh penalty on eight entities for manipulating the share price of Mangalam Industrial Finance Ltd (MIFL). The regulator slapped a fine of Rs 15 lakh each on Rishabh Mahendra Shah and Pradeep Kumar Daga and Rs 10 lakh each on [...]
As India remained a bright spot in an otherwise gloomy global economic scenario, the country's corporate sector showed a good appetite for acquisitions in 2022, a year which also saw the downfall of some of its prominent leaders. Cement, retail, pharmaceuticals and quick commerce were the sectors that witnessed multi-crore deals as players sought to [...]
Markets regulator Sebi on Thursday levied a Rs 51.14 lakh fine on the two promoters of Apex Frozen Foods Ltd (AFF) and two others for violation of insider trading rules. The regulator slapped a fine of Rs 11 lakh each on the two promoters -- Karuturi Subrahmanya Chowdary and Vallepalli Hanumantha Rao -- and P [...]
India's external debt stood at USD 610.5 billion in the second quarter of 2022-23, down by USD 2.3 billion from end-June 2022, the finance ministry said on Thursday. The external debt to GDP ratio stood at 19.2 per cent as at end-September 2022 as compared to 19.3 per cent at end-June. "At end-September 2022, India's [...]
