Shares of Mahindra & Mahindra (M&M) climbed over 5 per cent in morning trade on Friday after the company and the British International Investment (BII) inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the homegrown auto major. The stock jumped 5.16 per cent to its 52-week high of Rs [...]
Mahindra & Mahindra (M&M) and the British International Investment (BII) have inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major to focus on four-wheel passenger electric vehicles. The Mumbai-based automaker and BII have executed a binding agreement to invest in the new entity -- "EV Co". [...]
The Finance Ministry Thursday pegged the exchange rate for dollar at Rs 79.90 for calculation of import duty with effect from July 8, as against Rs 78.95 a fortnight ago. The sharp revision is due to depreciation of rupee against dollar following outflow of capital caused by various external factors, including the hardening of interest rate [...]
Union minister Nitin Gadkari on Thursday announced that the government has approved the construction of a road linking Haryana to the upcoming Jewar International Airport in Gautam Budh Nagar district of Uttar Pradesh. The construction of greenfield connectivity to Jewar International Airport (connecting Delhi-Mumbai Expressway) from DND Faridabad-Ballabhag Bypass KMP link in Gautam Budh Nagar [...]
The CBI has arrested Executive Director of Power Grid Corporation of India B S Jha and five officials of Tata Projects, including its Executive VP Deshraj Pathak and Assistant VP R N Singh, in connection with alleged bribery to favour the private company, officials said on Thursday. The probe agency had conducted searches on Wednesday [...]
The board of Birlasoft Ltd has fixed 15th July 2022 as the record date for the buyback of shares. The company will buy back each of its shares at ₹500. The board has further announced that it will be buying 78,00,000 fully paid equity shares not exceeding ₹390 crores. The buyback will be offered through [...]
Leading metals and oil & gas company, Vedanta Limited’s shares have fallen by 31.62% in the past month and are currently trading at 218.10 levels. A downturn was observed in the shares of the mining major after it declared dividends. The company declared an interim dividend of ₹ 31.50 per share in April 2022. Moreover, [...]
Demand in the FMCG industry remained soft in the June quarter, with major players Dabur, Marico and Godrej Consumer Products Ltd (GCPL) stating that consumers have titrated consumption as unprecedented inflation continued to impact the share of their income available for spending on consumer staples. The domestic FMCG industry continued to be "hit hard by [...]
The mega USD 60-billion merger of the HDFC twins, USD 10.5-billion Adani-Holcim deal along with USD 2.7-billion LIC share sale in the June quarter pushed the deal market to an all-time high of USD 130.3 billion in the first half of 2022, a report said on Wednesday. Deals worth USD 130.3 billion was more than [...]
Reliance Retail Ltd on Wednesday announced its long-term partnership with Gap and plans to bring back the iconic American fashion brand to India. "Through a long-term franchise agreement, Reliance Retail has become the official retailer for Gap across all channels in India," said a joint statement. Earlier, Gap Inc had a franchise business relationship with [...]
E-commerce major Amazon has alleged that independent directors of Future Retail failed to exercise their statutory duties and their conduct and attitude raise substantial questions on accountability, transparency and fairness regime for corporate governance in India. In a strongly worded letter to Future Retail's independent director on July 4, Amazon has also raised objection to [...]
The broader indices on Wednesday saw a bull run. The BSE Sensex closed 616 points or 1.16% higher at 53,750. On the other hand, NSE Nifty 50 index closed 178 points or 1.13% higher at 15,989. Here are two bluechip stocks on which the analysts are bullish after they reported their Q1 numbers for the [...]
The shares of Indiabulls Real Estate declined by 4.24% on Wednesday and by 8.91% in the past seven days. The National Anti-profiteering Authority (NAA) found the company guilty of not passing on over ₹6.46 crores input tax credit benefits to homebuyers by a commensurate reduction in prices post rollout of GST. A buyer filed a [...]
The National Restaurant Association of India (NRAI) on Wednesday said the government cannot make changes in levy of service charge in food bills by making guidelines and CCPA's decision to bar hotels and restaurants from such practice has created unnecessary confusion amongst consumers and disrupted smooth operations of restaurants. It alleged that there is an [...]
Cooking gas LPG price on Wednesday was hiked by Rs 50 per cylinder, the third increase in rates since May on firming international energy prices. Non-subsidised LPG now costs Rs 1,053 per 14.2-kg cylinder in the national capital, up from Rs 1,003 previously, according to a price notification of state-owned fuel retailers. Common households pay [...]
The shares of SpiceJet Limited lurched lower on Wednesday, declining 7% to hit their 52-week low of ₹35 apiece on the Bombay Stock Exchange (BSE). This happened due to multiple instances of its planes suffering technical glitches in the past few weeks. The shares closed at ₹ 37.65 on Tuesday and opened at ₹37.10 apiece [...]
Is cryptocurrency Safe with Bitcoin Regulations: The remarkable increase in interest in digital currencies as well as the incredible fluctuation of their rates have grabbed the interest of regulatory agencies. Regulating Bitcoin as well as other crypto-assets in the U.S. is complex since there's no specific federal power for it. Bitcoin is governed like an [...]
Mortgage lender HDFC Ltd on Tuesday said it has partnered with software firm Salesforce to support the company's growth priorities. HDFC wanted to build the next generation of integration backbone, to easily connect backend and frontend systems including Salesforce, the mortgage firm said in a statement. Mulesoft with its innovative API-led integration approach and low [...]
Nithin Kamath, Founder, and CEO of the country's top online brokerage firm Zerodha took to Twitter to share his views on real estate as an investment for the younger generation. As per his tweet, investors who have had exposure to real estate for more than a decade have earned a decent return on investment. The [...]
The Enforcement Directorate (ED) on Tuesday conducted searches at 44 places across the country in a money laundering investigation against Chinese smartphone manufacturing company Vivo and related firms, officials said. The searches are being carried out under sections of the Prevention of Money Laundering Act (PMLA) at locations in several states including in Delhi, Uttar [...]
