The UAE government April this year announced a slew of reforms set to be in effect from 3 October 2022, easing most of the visa application process and extending the eligibility criteria for most residency visas. This has been a piece of welcoming news for both existing residents, both expats, and UAE residents, as well [...]
Equity benchmarks retreated for the second session on the trot on Thursday, in lockstep with a bearish trend overseas after the US Federal Reserve increased interest rates by 75 basis points and projected more rate hikes to quell scorching inflation. The rupee plunging 90 paise to an all-time closing low of 80.96 against the US [...]
The share price of Adani Group companies has spiralled in the past year and this has played a major role in making Gautam Adani the second richest person in the world. The completion of the acquisition of Ambuja Cement and ACC helped the conglomerate overtake the Tata Group in terms of market capitalization. No-poaching pact [...]
The shares of the tobacco giant ITC Limited opened at Rs 341 and gained approximately 2.2 per cent in the early hours on Thursday to reach a new 52-week high of Rs 348.75. In a month, the stock has rallied by 10 per cent. When compared to the Nifty 50's performance of 1.4 per cent [...]
The shares of Aptus Value Housing Finance zoomed 8% to the day’s high price of ₹ 321.15 per share after foreign brokerage Citi initiated coverage on the stock. Its shares were trading at ₹ 314.30 apiece at 11:48 AM on Thursday. Citi has given a ‘buy’ call on the shares with a target price of [...]
The shares of Premier Explosives Limited have shed approximately 3 per cent till 12 pm on Thursday and were trading at Rs 485 levels. In a month the stock has gained approximately 22 per cent. Premier Explosives Limited is engaged in the manufacturing of industrial explosives and detonators. It also undertakes operation and maintenance (O&M) [...]
Two entities on Wednesday offloaded dairy company Dodla Dairy Ltd's shares for Rs 106 crore through open market transactions. According to block deal data available with the National Stock Exchange (NSE), TPG Dodla Dairy Holdings Pte sold 18,31,434 shares while Sunil Reddy Dodla -- one of the promoters of Dodla Dairy -- disposed of 1,95,000 [...]
Sugar firm Triveni Engineering & Industries Ltd on Wednesday said the company has sold its entire 21.85 per cent stake in Triveni Turbines for about Rs 1,600 crore. The shares have been sold to Rati Sawhney, one of the promoter of Triveni Turbine, and a few institutional investors, including sovereign wealth funds of Singapore and [...]
The CBI arrested the founder-chairman of ABG Shipyard Limited, Rishi Kamlesh Agarwal, on Wednesday in connection with an alleged bank fraud of more than Rs 22,842 crore, officials said. The Central Bureau of Investigation (CBI) had booked Agarwal, a former chairman of the company, and others for the alleged offences of criminal conspiracy, cheating, criminal [...]
The government on Friday slashed windfall gains tax, following a decline in international crude oil prices. This is the fifth revision of the windfall tax since its implementation on July 01. According to the Central Board of Indirect Taxes and Customs (CBIC) notification, it has cut the tax on domestically produced crude oil to ₹ [...]
The share price of the small-cap IT company Saksoft Limited dropped by approximately 3 per cent and closed at Rs 1,150 on Wednesday. In the last five days, the stock has zoomed by 7 per cent. Saksoft Ltd is a leading Digital Transformation Solution Partner for clients across various countries. It works with mid-tier businesses [...]
Equity indices ended lower on Wednesday amid mixed global market trends ahead of the keenly awaited US Fed interest rate decision. The 30-share BSE Sensex fell 262.96 points or 0.44 per cent to settle at 59,456.78. During the day, it tanked 444.34 points or 0.74 per cent to 59,275.40. The NSE Nifty went lower by [...]
The Cabinet on Wednesday approved a Rs 19,500-crore production linked incentive (PLI) scheme on 'national programme on high efficiency solar PV modules' with an aim to attract Rs 94,000 crore investment in the sector. One of the the benefits expected from the PLI scheme is that about 65,000 MW per annum manufacturing capacity of fully [...]
Banking stocks in India have outperformed the benchmark indices in the past month, on the back of a buoyant growth outlook. They have been driving the gains of the broader market and have been second, only to FMCG stocks in terms of gains. For perspective, Nifty Bank gave 7.27 per cent returns in the past [...]
KEC International, a global infrastructure engineering, procurement and construction major, on Wednesday said it has bagged new orders totaling over Rs 1,100 crore in various business segments. The company said its transmission & distribution (T&D) business has secured orders for building a 400 kV digital GIS substation order from Power Grid Corporation of India Limited [...]
In the early hours of trading on Wednesday, Swaraj Engines Limited's shares, which had begun at Rs 1,820, soared by 7% to hit a new 52-week high of Rs 1,962. In a month the stock has surged by approximately 19 per cent. In June 2017, the stock reached an all-time high of Rs 2,545. It [...]
The shares of the company were trading in red at Rs 616 levels till the afternoon on Wednesday. In a month the stock has gained 1.1 per cent. In a year the shares have zoomed by approximately 52 per cent. Olectra Greentech Limited (Olectra), a subsidiary of MEIL Group is India’s first ever electric bus [...]
Following two back-to-back days of gains, headline gauges - Nifty 50 and BSE Sensex took a downturn. Investors are nervous ahead of an expected interest rate hike by the US Fed’s rate-setting panel. Gains in Auto and FMCG stocks were offset by losses in financial and IT shares. Here are three Nifty 50 stocks that [...]
The Adani Group has pledged its entire stake worth USD 13 billion in Ambuja Cements and ACC, days after completing its USD 6.5 billion acquisition of the two companies. According to regulatory updates on Tuesday, billionaire Gautam Adani-led group has encumbered its 63.15 per cent stake in Ambuja Cements and 56.7 per cent stake in [...]
An individual on Tuesday sold 3.3 per cent stake in Best Agrolife Ltd for over Rs 98 crore through open market transactions. Raj Kumar offloaded 5,25,000 shares on the NSE and 2,75,000 shares on the BSE, amounting to 3.38 per cent stake in the company, as per the bulk deal data available with the two [...]
