Online food delivery platform Zomato Ltd on Friday said it will acquire Blink Commerce Pvt Ltd (formerly known as Grofers) for Rs 4,447.48 crore in a share swap deal as part of its strategy of investing in quick commerce business. The company's board at a meeting held on Friday has approved the acquisition of up [...]
Dr Reddy’s Laboratories Ltd on Friday announced that it has acquired a portfolio of branded and generic injectable products from USA-based Eton Pharmaceuticals, Inc for USD 50 million. A press release from the Indian drug maker said, the portfolio includes the Biorphen (phenylephrine hydrocholoride) injection and Rezipres (ephedrine hydrochloride) injection NDAs (New Drug Applications) with [...]
The shares of textile manufacturer Trident Ltd. were down 0.65% for the day as of 12:35 IST and were trading at ₹ 38.10 per share. Trident is a diversified mid-cap company with interests in home textiles, paper, energy, FMCG and chemical industries. Its bed & bath linen and yarn business contribute majorly to the revenue. [...]
The shares of government-owned steel producer Steel Authority of India Ltd. (SAIL) have declined 38% to date since early April. As of 12:45 IST, the stock was trading at ₹ 68.45, down 38% since the April 6 closing price of ₹ 110.50 per share. Billionaire investor Rakesh Jhunjhunwala, who earlier held a 1.8% stake in [...]
Tata Steel Mining has completed the acquisition of remaining 10 per cent equity stake in Rohit Ferro-Tech (RFT) for Rs 20 crore, according to a company statement. On April 12, Tata Steel said its subsidiary Tata Steel Mining Ltd (TSML) has completed the acquisition of 90 per cent stake in RFT in accordance with the [...]
The CBI on Friday conducted searches at five locations in Delhi after registering an FIR against Delhi-based packaging company Rave Scans Pvt Ltd for allegedly defrauding a consortium of banks to the tune of Rs 69.33 crore, officials said Friday. The CBI acted on a complaint from Indian Overseas Bank alleging serious manipulation in the [...]
The shares of Rakesh Jhunjunwala-owned Nazara Technologies were up more than 18.5% in the early hours of trading on Friday. The stock climbed to touch its high of ₹ 618.84 per share as of 9:39 IST, up ₹ 98 from its previous day's adjusted closing price of ₹ 520.90 per share. It must be noted [...]
Electronics manufacturing services company Foxconn chairman Young Liu on Thursday met Vedanta Group's managing director Akarsh Hebbar to discuss the roadmap of their proposed electronic chip manufacturing plant and its location. Vedanta and Foxconn had signed a memorandum of understanding in February to form a joint venture company in India. Vedanta will hold 60 per [...]
The officers committee on GST has suggested the GST Council to defer a decision on taxability of cryptocurrency and other virtual digital assets. The Fitment Committee in its report to the GST Council has suggested that a law on regulation of cryptocurrency is awaited and it would be essential to identify all relevant supplies associated [...]
The Centre can meet the fiscal deficit target of 6.4 per cent for 2022-23 if there are no excise duty cuts to lower high oil prices and additional spending on subsidies, a German brokerage said on Thursday. Meeting the budgeted target will be possible if there is no further cut on excise duties, Deutsche Bank's [...]
A division bench of the Bombay High Court on Thursday dismissed the petition filed by Dish TV's promoter group firm, seeking to restrain Yes Bank from voting at the DTH operator's extraordinary general meeting. Promoter group entity World Crest Advisors LLP had earlier challenged the June 17 order passed by the single bench of the [...]
The World Bank has approved a USD 245 million loan to support India's efforts to modernise rail freight and logistics infrastructure, the international financial institution said in a statement on Wednesday. The Rail Logistics project will help India shift more traffic from road to rail, making transport -- both freight and passenger -- more efficient [...]
The shares of luggage-maker VIP Industries Limited which owns famous brands such as Skybags, Carlton, and Caprese have climbed almost 20% in the previous 10 trading sessions. As of 12:30 IST, the stock was trading at ₹ 619.45 per share, up 19.95% from the price of ₹ 516.56 it registered at 10 AM on 13 [...]
EKI Energy Services Limited has fixed 1st July 2022 as the record date for the issue of bonus shares. The board of directors had considered and approved the recommendation for a bonus issue of three equity shares for every one share held. The company in the exchange filing informed that “The Board of Directors fixed [...]
Merchant commerce platform Pine Labs on Thursday announced the acquisition of Bengaluru-based API fintech startup Setu in a deal valued at USD 70-75 million. The deal will entail a mix of cash and equity. Commenting on the acquisition, B Amrish Rau, CEO of Pine Labs, said: "Setu will make an incredible addition to the Pine [...]
IIFL Finance is planning to raise debt capital worth Rs 5,000 crore by issuing bonds on a private placement basis, the company said on Thursday. The bonds will be offered through public issue, subject to regulatory and statutory approvals, IIFL Finance said in a regulatory filing. "The board of directors of the company at their [...]
The Board of Directors of Abbott India have recommended a final dividend of 1450% and a special dividend of 1300% on the face value of their shares. Abbott India is a large-cap pharmaceuticals firm with a market capitalization of 37,976 crores. Their shares have a face value of ₹10 apiece. This sums up to a [...]
Tea cafe chain Chaayos on Thursday said it has raised USD 53 million (around Rs 414 crore) for tech enhancement, hiring and store expansion as it plans to add 100 stores by the end of this year. The company said the funding round was led by Alpha Wave Ventures with participation from all existing investors [...]
Indian equity benchmarks traded in the green on Thursday, led by gains in IT and Auto stocks. A fall in oil prices boosted domestic sentiment. At 11:20 AM, the Nifty 50 was trading at 15617.45 points, 1.32% or 204.15 points higher than its previous close. The BSE Sensex was trading at 52,478.53 points, 1.27% or [...]
The S&P BSE IPO Index, which is designed to measure the performance of companies listed at BSE after their initial public offering (IPO), has given a negative return of -30.55 in 2022. The index that constitutes 59 new IPO companies has given the worst performance in the BSE Indexes so far in this year YTD. [...]
