Equity benchmarks fell on Friday after a continuous rally, with the Sensex and Nifty declining over 1 per cent each amid profit-taking and weak global market trends. The 30-share BSE Sensex, which had started the trade on a firm note, later gave up all the early gains and ended 651.85 points or 1.08 per cent [...]
The shares of Tata Chemicals surged 5.71% on Friday’s early trades to reach a fresh all-time high of ₹1182.40 apiece on the Bombay Stock Exchange (BSE). The company recently reported strong results for the June quarter. Tata Chemicals posted overall revenue at ₹ 3995 crores in Q1FY23, up 34% year-on-year, led by strong performance across [...]
Debt-ridden Future Enterprises Ltd (FEL) said it has defaulted on payments of interest of two non-convertible debentures totalling Rs 12.68 crore. The due date for payment was August 17, 2022, FEL said in a regulatory filing. "The company is unable to service its obligations in respect of the interest on Non-Convertible Debentures (NCDs) due on [...]
With crude oil prices falling, the shares of paint companies have been buzzing on Dalal Street. The price of Brent crude oil fell by more than 15% in the past month. Higher crude oil prices increase input costs for paint companies Paint companies use crude oil derivatives as raw materials and this accounts for about [...]
The government on Thursday hiked the windfall profit tax on the export of diesel to Rs 7 per litre and brought back a tax on jet fuel exports, but slashed the levy on domestically produced crude oil in line with softening rates. At the third fortnightly review, the government raised the windfall profit tax on [...]
American Balanced Fund on Thursday offloaded 2.9 crore shares of real estate investment trust Embassy Office Parks REIT for Rs 1,046 crore through an open market transaction. According to the bulk deal data available with BSE, American Balanced Fund sold 2,92,62,468 shares of the company. The shares were disposed of at an average price of [...]
The Initial Public Offer (IPO) of Syrma SGS Technology was subscribed 32.61 times on the final day on Thursday. The Rs 840 crore-IPO received bids for 93,14,84,536 shares against 2,85,63,816 shares on offer, according to NSE data. The category for Qualified Institutional Buyers (QIBs) received 87.56 times subscription, non institutional investors was subscribed 17.50 times [...]
IT company Wipro has held back variable pay of employees mainly due to pressure on margins, inefficiency in its talent supply chain and investment in technology, according to sources. According to the sources, the company has informed employees in an email about the cut in variable pay. Two sources aware of the development told PTI [...]
SpiceJet and Swiss firm Credit Suisse AG Thursday told the Supreme Court about the resolution of their financial dispute which led to the withdrawal of an appeal by the low-cost airline against a Madras High Court verdict which had ordered its winding up due to alleged non-payment of dues to the Swiss firm. "There is [...]
Inflation is persistently at elevated levels that warrants appropriate policy responses to anchor expectations going forward, said an RBI article published on Thursday. Retail inflation based on the consumer price index (CPI) softened to 6.71 per cent in July, mainly on account of moderation in food prices. The Reserve Bank has increased the benchmark lending [...]
Equity benchmark Sensex ticked higher for the fifth straight session on Thursday, helped by fag-end buying in select blue-chip stocks amid a largely negative trend in global markets. A depreciating rupee and rising crude prices in the international market capped the gains in domestic equities, traders said. In a largely choppy session, the 30-share BSE [...]
Blue Chip companies are large and well-recognized companies with an excellent reputation. They are financially sound and have operated for many years. They have dependable earnings and often pay huge dividends to investors. Brokerages are bullish on these blue chip stocks and they see an upside of up to 27%: ICICI Bank The shares of [...]
The shares of food aggregator Zomato Limited have been on an uptrend after hitting their 52- week low of ₹ 40.60 in July this year. Its share price plummeted as market participants expected a huge sell-off after the expiry of the one-year lock-in period for its promoters and early investors. Zomato’s shares have risen from [...]
Ace Investor Radhakishan Damani’s supermarket chain Dmart (Avenue Supermarts Ltd) plans to boost its store count five-fold. The retail chain plans to grow its market share and compete with the likes of Mukesh Ambani’s Reliance Retail Ltd. which is expanding aggressively. In addition, it is planning to scale up its online business, Dmart Ready. Avenue [...]
The Department of Telecom has received upfront payment of around Rs 17,876 crore from Bharti Airtel, Reliance Jio, Adani Data Networks and Vodafone Idea for spectrum they won in a recent auction, according to sources. While all telecom operators have opted to make payments in 20 annual installments, Bharti Airtel has paid Rs 8,312.4 crore [...]
Vikram Solar has received capital markets regulator Sebi's go ahead to raise funds through an initial public offering (IPO). The IPO consists of a fresh issue of up to Rs 1,500 crore and an Offer-for-Sale (OFS) of up to 50 lakh equity shares by the selling shareholders. Vikram Solar, which filed preliminary IPO papers with [...]
The shares of Mangalam Global Enterprise Limited opened at Rs 206 on Wednesday as against its previous close of RS 203. Till 11.30 am the shares had climbed 2.7% and were trading at Rs 209. In the last five days, the stock has climbed by more than 13%. So far this year, the stock has [...]
Britain's rate of inflation has surged to a new 40-year high as the Consumer Prices Index (CPI) rose to 10.1 per cent on Wednesday, with increasing food costs the biggest driver of the latest hike. According to the Office for National Statistics (ONS), annual inflation for essential food items is now running at 12.7 per [...]
The value of the foreign portfolio investors (FPI) holdings in the domestic equities dropped 14 per cent to USD 523 billion in the three months ended June 2022 from the preceding quarter, according to a Morningstar report. This was the third consecutive quarterly decline in the value of FPIs' investments in Indian equities. Foreign investors [...]
Telecom operator Bharti Airtel has paid Rs 8,312.4 crore to the Department of Telecom towards dues for spectrum acquired in the recently concluded 5G auctions, the company said on Wednesday. With the payment, Airtel has paid four years of 2022 spectrum dues upfront. Airtel said it believes that this upfront payment, coupled with the moratorium [...]
