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 [...]
Reliance Consumer Products Ltd, the fast-moving consumer goods arm of Reliance Industries Ltd, will acquire a controlling stake in Lotus Chocolate. Reliance Consumer Products Ltd (RCPL) has entered into an agreement with the promoters of Lotus Chocolate, which manufactures chocolates, cocoa products and cocoa derivatives. As part of the share purchase agreement, RCPL proposes [...]
Dalal Street investors became richer by more than Rs 16.36 lakh crore this year as the equity market scaled new highs despite persistent geopolitical uncertainties and inflation worries. Analysts attributed better macroeconomic fundamentals, the confidence of retail investors and foreign investors investing again in the domestic equities towards the latter half of 2022 as the [...]
Punjab Finance Minister Harpal Singh Cheema on Thursday said Goods and Services Tax (GST) collection has increased by 24.5 per cent year-on-year to Rs 11,967.76 crore in April-November this fiscal. Cheema said the total revenue from GST during the first eight months of 2021-22 was Rs 9,612.6 crore, whereas the total collection from April to [...]
Equity benchmarks Sensex and Nifty began the last trading day of this year on a positive note, helped by significant buying in metal and power stocks amid an overall firm trend in global equities. Continuing its previous day's rally, the 30-share BSE Sensex climbed 257.05 points to 61,390.93 in initial trade on Friday. The broader [...]
Inox Wind on Friday said that CRISIL has upgraded its ratings on the long-term and short-term bank facilities and has revised its outlook from stable to positive. CRISIL has upgraded its ratings from Crisil BBB to Crisil BBB+ (long-term rating), Crisil A3+ to Crisil A2 (short-term ratings) and outlook has been revised from stable to [...]
FMCG firm Tata Consumer Products Ltd (TCPL) on Thursday said it has acquired 23.3 per cent additional shares of South Africa-based Joekels Tea Packers for Rs 43.65 crore through a step-down subsidiary. Tata Consumer Products Overseas Holdings Ltd (TCP Overseas) -- a step-down wholly-owned subsidiary of the company through Tata Consumer Products UK Group -- [...]
Evacuation of coal from Talcher coalfields in Odisha’s Angul district is set to get a boost with the inauguration of the Rs 300-crore Angul-Balram rail link on Thursday. The project, inaugurated by Union Coal and Mines Minister Pralhad Joshi, in the presence of his cabinet colleagues Dharmendra Pradhan and Ashwini Vaishnaw, is likely to enable [...]
Amid global shocks and challenges, the Indian economy presents a picture of resilience and the regulators are ready to take appropriate actions to preserve financial stability, RBI Governor Shaktikanta Das said on Thursday. In his foreword to the 26th Financial Stability Report (FSR), Das said the international economic order stands challenged and financial markets are [...]
The year 2022 saw a number of stocks deliver high returns to their investors. Not only did the stocks make a new high but also the benchmark indices crossed certain important levels. As we approach the year-end, here is a list of 4 stocks under the Tata group that rallied the most: Indian Hotels Company [...]
The RBI on Thursday said banks' gross NPA ratio has fallen to a sever-year low of 5 per cent and the banking system remains sound and well-capitalised. In the 26th issue of the Financial Stability Report (FSR), the RBI also said the global economy is facing formidable headwinds with recessionary risks looming large. The interplay [...]
