The shares of Axis Bank Ltd have made a new 52-week low of ₹621.25 as of Wednesday. The stock is currently trading at ₹625.55 as of IST 13:45. The share is at a discount of 27.87% from its 52-week high The RSI indicator on the daily charts is at 31.48 points, which indicates that the [...]
Edible oil prices in the retail market have started easing with softening of international rates and the government's timely intervention, Food Secretary Sudhanshu Pandey said on Wednesday. As per government data, the average retail prices of packaged edible oils have ease slightly, except for groundnut oil, across the country since the beginning of this month [...]
Referring to IPOs, Warren Buffet said, “You don't want to get into a stupid game just because it's available,” at the Annual Meeting of Berkshire Hathaway in 2016. The prospects of earning multi-bagger returns are tempting. IPOs attract multifold subscriptions during their bidding period. Despite all the fanfare, many have been wealth destroyers for the [...]
Domestic air passenger traffic saw a strong recovery in demand as Indian carriers flew 1.20 crore passengers on the local routes in May, logging nearly five-fold year-on-year volume growth, DGCA data showed on Wednesday. Domestic air passenger traffic in May 2021 stood at a meager 21-lakh, as per the Directorate General of Civil Aviation (DGCA) [...]
Pitching for urgent reforms in the agro-chemicals sector, Dhanuka Agritech Group Chairman RG Agarwal on Wednesday demanded that the government should reduce goods and services tax (GST) on pesticides to five per cent from the current 18 per cent in line with farm inputs like seeds and fertilisers. Agarwal also urged the government to bring [...]
Bharti Airtel International (Netherlands) BV, which manages Airtel's Africa business, has issued a tender offer to buy back up to USD 300 million (about Rs 2,348 crore) of senior notes, the country's second largest telecom company said on Wednesday. The company's tender offer to purchase USD 300 million worth of its 5.35 per cent guaranteed [...]
Capital markets regulator Sebi on Wednesday sent a notice to Future Enterprises asking it to pay over Rs 5 lakh in a matter pertaining to disclosure lapses about initiation of arbitration proceedings against Future Group by Amazon. The regulator also warned the company of attachment of assets and bank accounts if it fails to make [...]
Bengaluru-based startup GIVA, which sells silver jewellery, has raised funds from investors led by Aditya Birla Ventures to expand its business. In a statement, GIVA said it has completed a Series B round of funding led by Aditya Birla Ventures and A91 Partners, along with the participation of Sixth Sense Ventures. The company did not [...]
The CBI has booked Dewan Housing Finance Ltd, its former CMD Kapil Wadhawan, director Dheeraj Wadhawan and others in a fresh case involving Rs 34,615 crore, making it the biggest bank fraud probed by the agency, officials said Wednesday. Following the registration of case, a team of over 50 officials from the agency carried out [...]
India's largest software firm TCS has bagged a deal to drive business process transformation at Aadhar Housing Finance for an undisclosed sum, the companies said on Wednesday. The domestic housing financier will be deploying the Tata group company's lending and securitisation platform for market expansion, according to a statement. The partnership with TCS is for [...]
Varun Beverages chairman Ravi Kant Jaipuria has settled with capital markets regulator Sebi a case related to alleged violations of insider trading rules after paying nearly Rs 56 lakh towards settlement charges. It was alleged that Jaipuria had communicated unpublished price-sensitive information (UPSI) relating to a strategic partnership between Varun Beverages Ltd (VBL) and PepsiCo [...]
The shares of steel giant Tata Steel Limited declined more than 4.25% in the first half of the trading session on Wednesday and hit their new 52-week low of ₹ 842 per share. The steel rally has seemingly come to an end as the share price of India’s top steelmaker has declined more than 45% [...]
Tata Steel has not made any purchase of PCI coal from Russia post its April announcement of severing business ties with Russia amid the ongoing conflict with Ukraine, a company spokesperson said on Wednesday. On April 20, Tata Steel had said it would stop doing business with Russia. To ensure business continuity, all its steel [...]
The shares of UPL Ltd., a large-cap agriculture solutions provider hit their new 52-week low of ₹ 617.75 today at 11:45 IST. The stock is down -19% year to date and -22% in a month after the buyback offer closed . The Mumbai-based company, previously known as United Phosphorus Limited, manufactures and markets herbicides, fungicides, [...]
Shares of Jain Irrigation Systems Ltd on Wednesday rose 17 per cent after the company said its global irrigation business will be merged with Temasek-owned Rivulis in a cash-and-stock deal, a move that will help the firm to reduce its consolidated debt. The stock jumped 17 per cent to Rs 43.90 on the BSE. At [...]
Electric two-wheeler maker Okinawa Autotech on Wednesday said it will invest Rs 500 crore to set up a new manufacturing plant at Karoli in Rajasthan. Spread across 30 acres of land, the factory will have an annual production capacity of 10 lakh units and will be fully operational from October 2023, Okinawa Autotech said in [...]
HCL Technologies DRYiCE™ announced the launch of DRYiCE IntelliOps (IntelliOps), a solution addressing the full-stack AIOps and observability needs of an enterprise. Enterprises today have invested heavily in complex solutions for digital initiatives to modernize their technology landscape while trying to support user expectations for continuously available digital services, but a few challenges impede their [...]
Adani Enterprises and 10 other companies including offshore firms have expressed interest in bidding for coal import tenders floated by Coal India Limited, the public sector minor said on Tuesday. In a statement, the miner said it has held three pre-bid meetings with prospective coal importing agencies evincing interest in pitching in, in the three [...]
Debt-ridden Future Enterprises Ltd (FEL) has defaulted on payment of interest of Rs 6.07 crore for its non-convertible debentures. The due date for payment was June 20, 2022, said a regulatory filing from FEL. "The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures was due on June 20, [...]
Private sector lender South Indian Bank (SIB) is planning to raise up to Rs 2,500 crore to shore up its capital base for business growth and meet regulatory norms. The bank's shareholders had given approval for this fundraise in the previous AGM last fiscal, however, the bank did not raise the funds. A banking company [...]
