Capital markets regulator Sebi has sent a notice to Deccan Chronicle Holding's promoters and asked them to pay Rs 4.29 crore in a matter related to misrepresentation of financial statements of the company from FY 2008-09 to 2011-12. The regulator directed T Venkattram Reddy, T Vinayak Ravi Reddy and P K Iyer to pay Rs [...]
Three projects worth Rs 1,564 crore of state-run SAIL have been delayed due to reasons like slow progress in work, delay in obtaining clearances among others, Parliament was informed on Monday. "Three projects i.e. installation of new sinter plant and rebuilding of COB 8 at Bokaro Steel Plant, and modification in washing circuit of CSW [...]
Mortgage leader HDFC on Monday announced a 35 basis points increase in its retail prime lending rate and now the minimum rate will be 8.65 per cent. The revised rates would be effective from Tuesday. The retail prime lending rate on housing loans, on which the adjustable rate home loans are benchmarked, has been increased [...]
PTC India on Monday said it has entered into an agreement with Bhutan's electricity utility firm Druk Green Power Corporation Limited to supply 600 MW power to the neighbouring country during the winter season. "Bhutan, through Druk Green Power Corporation Limited, has entered into an agreement with PTC India Ltd, for purchase of power from [...]
The regulatory burden is the highest on small cars, a key segment of the Indian automobile industry and having a uniform tax structure across all segments of vehicles will not augur well for the sector growth, according to Maruti Suzuki India Chairman RC Bhargava. He also said India's economic growth rate could be higher if [...]
Cadila Pharmaceuticals on Monday said it has appointed Ashraf Allam as its global Chief Operating Officer (COO). Allam, who served as the CEO at the Public Investment Fund prior to joining Cadila Pharmaceuticals, will report to Group Chairman and Managing Director Rajiv Modi, the company said in a statement. Previously he has worked with multinationals [...]
The shares of Polyplex Corporation hit a 52-week low of ₹ 1625.50 apiece on Monday. Its shares closed at ₹ 1638.00 apiece on the Bombay Stock Exchange (BSE). 90356 shares changed hands during the day. According to the latest filings, ace investor Dolly Khanna holds 3,68,170 shares of the company. Her holdings in the company [...]
Some 15,000 vulnerable households in Sri Lanka hit by the ongoing economic crisis have received over USD 1.4 million in cash transfers from the FAO to overcome the shortage of food and other essential commodities in the island nation, the UN agency said on Monday. This was in addition to over 47,609 families being granted [...]
Dhanuka Agritech Ltd on Monday said its buyback offer for shares worth Rs 85 crore will open on December 26. The buyback will close on January 6, 2023, the company said in a regulatory filing. The company has proposed to buy back 10 lakh shares of face value of Rs 2 each at Rs 850 [...]
Google, the world's most popular search engine, is working on making text and voice internet search available in over 100 Indian langugages, its India-born CEO Sundar Pichai said on Monday. Pichai, who is visiting India, said the pace of technological change in the country has been extraordinary and Google is supporting small businesses and startups, [...]
A stock whose price ranges anywhere between Rs 1 to Rs 80 and has a market capitalization of less than Rs 500 crore is categorized as a Penny stock in India. These stocks are illiquid in nature as the trading volume is generally less and thus have a higher risk. These companies are microcaps and [...]
Express logistics firm DTDC Express on Monday said it has signed a non-binding initial pact with UAE-based Aramex India to leverage synergies and enhance collaboration across multiple avenues. The move aims at offering reliable and service responsive international solutions to India-based Business-to-Business (B2B) and Business to Consumer (B2C) customers, DTDC said in a statement. "We [...]
Realtors apex body CREDAI on Monday, in its pre-Budget wish list, has sought an increase in the deduction limit on home loan interest to Rs 5 lakh from the current Rs 2 lakh in view of hardening of mortgage rates since May. The interest rates on home loans have gone up by around 2 percentage [...]
The shares of Sarveshwar Foods rallied 9.97% to reach an intraday high of ₹ 91.55 apiece on the National Stock Exchange (NSE), against the previous close of ₹ 83.25 on the National Stock Exchange (NSE). Its shares got locked at an upper circuit. Sarveshwar Foods is engaged in the manufacturing, trading and export of Basmati [...]
Ahead of the Union Budget 2023-24, Prime Minister Narendra Modi will chair the 'second national conference of chief secretaries' in the national capital next month, a senior government official said. The second national conference of chief secretaries will be held in Delhi from January 5-January 7 and it will be a significant step towards further [...]
India's steel production has reached a historic level of 120 million tonnes per year making it the world's second-largest producer of Steel, the government informed the Rajya Sabha. Steel Minister Jyotiraditya Scindia said India intends to double its steel production to 300 million tonnes per annum by 2030. "There has been a doubling in the [...]
Domestic rating agency Icra on Monday upped its banking sector outlook to 'positive' on healthy asset growth, improving asset quality and stronger capital buffers. The agency expects asset quality to improve to a decadal best of 4 per cent from a gross non-performing assets (NPAs) perspective by the end of FY24. The banking system's credit [...]
Wipro Consumer Care on Monday announced its entry into the packaged food and spice segment by acquiring Nirapara, one of the largest-selling traditional food brands in Kerala. The deal size was not disclosed by the company. The Wipro group arm has signed a definitive agreement with Nirapara, a company statement said. With this acquisition, Wipro [...]
The shares of General Insurance Corporation of India (GIC) and New India Assurance Company Ltd (NIAC) gained 11.97% and 7.91%, respectively by 01:23 PM on Monday. In fact, the shares of GIC reached a fresh 52-week high of ₹ 188.15 apiece, on the National Stock Exchange (NSE). A slew of amendments to insurance laws is [...]
The shares of sugar companies sweetened as they zoomed up to 20% on Monday, for the second day in a row. Rajshree Sugar & Chemicals (up 19.98%), Sakthi Sugars (up 19.86%), Dhampure Speciality Sugars (up 11.40%) Simbhaoli Sugars (up 19.86%), and Dalmia Bharat Sugar and Industries (up 15.68%), quoted higher. Food Secretary Sanjeev Chopra told [...]
