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 [...]
CK Birla Group firm, Hindustan Motors Ltd on Tuesday said it has agreed to sell its 'Contessa' brand to SG Corporate Mobility Pvt Ltd for an undisclosed sum. The company has executed a brand transfer agreement with SG Corporate Mobility Pvt Ltd on June 16, 2022 for the transfer of the Contessa brand, including the [...]
It is not easy for an airline to operate in India and if the Tata Group cannot make Air India work, no one else in the country will be able to do so, Emirates President Tim Clark has said. “Air India should be as big as United Airlines. It should be as big because of [...]
After facing a rough few sessions, the shares of Manali Petrochemical Ltd has shown a sign of relief on Tuesday. The shares of the company have fallen 36% in the previous 30 sessions. As of Tuesday, the stock is trading at ₹98 and is up by 11.68% IST 14.06. For the March quarter of 2022, [...]
Home appliance maker Whirlpool of India is expecting a better performance this fiscal after having a muted demand in FY22, as it sees green offshoots and a rebound in consumer sentiments, according to its Managing Director Vishal Bhola. In his address to shareholders in the latest annual report of the company, Bhola, however, said global uncertainties [...]
State-owned Oil and Natural Gas Corporation (ONGC) is seeking a minimum USD 17 price for the gas it plans to produce from coal seams in its Bokaro CBM block in Jharkhand. ONGC invited bids for the sale of 0.20 million standard cubic metres per day of gas it plans to produce from the Bokaro CBM [...]
Galactico Corporate Services Limited is a SEBI registered Category I merchant banker providing services such as corporate advisory, mergers & amalgamation, corporate valuations, QIB placement, ESOP advisory management, and listing to mid-cap, small and mid-size enterprises (SMEs). This small-cap stock has generated a multi-bagger return of 673% in the last 6 months. It was trading [...]
Best Term Plan: A term insurance plan is a type of life insurance plan that provides financial benefits to the beneficiary for the unfortunate loss of the life assured during the policy tenure. The compensation is provided to the family of the policyholder as a death benefit. Term plan insurance is the simplest form of [...]
Capital markets regulator Sebi has permitted mutual funds to again invest in foreign stocks within the aggregate mandated limit of USD 7 billion for the industry. This came in the wake of a major correction in global markets that brought down the valuation of international stocks. In January, Sebi had asked mutual fund houses to [...]
PwC India on Tuesday said it will acquire Bengaluru-based Venerate Solutions Private Limited, a salesforce consulting firm. PwC India, however, did not disclose the financial details of the acquisition. Upon completion of the acquisition, Venerate and its team of consultants and developers will integrate with PwC India's salesforce practice, said PWC India, adding this acquisition [...]
Nazara Technologies Limited, Titan Limited and Anant Raj Limited have surged by more than 5% on Tuesday’s early trades. Ace Investor Rakesh Jhunjhunwala holds a stake in these stocks. Titan Limited Tata Group stock, Titan Limited surged for the second day in a row after global brokerage Macquarie said that the stock of the luxury [...]
The shares of full-integrated pharmaceuticals player Aurbindo Pharma Ltd. were trading near their new 52-week low in the early hours of trading on Tuesday. As of 10:45 IST, the stock was being exchanged for ₹ 529.50 on the bourses, down more than 27.5% year to date. One-year performance has been dismal as well as the [...]
Ace investor Rakesh Jhunjhunwala-promoted Akasa Air's first aircraft Boeing 737 MAX arrived in New Delhi on Tuesday, bringing it closer to securing the mandatory Air Operator Permit to start operations. The airline had received the ceremonial keys for the aircraft in Seattle, the US, on June 15, Akasa Air said in a statement. This is [...]
Capital markets regulator Sebi on Monday imposed a penalty totalling Rs 30 lakh on Reliance Industries and two individuals for not making prompt clarification to the stock exchange pertaining to the Jio-Facebook deal, which was disclosed through the newspaper. The other two individuals penalised by Sebi are -- Savithri Parekh and K Sethuraman. The fine need [...]
Capital markets regulator Sebi's total income marginally grew to Rs 826 crore in 2020-21, mainly due to increase in earnings from investments and fees. Also, the total expenditure of the regulator rose to Rs 667.2 crore for the year ended March 31, 2021, from Rs 588.14 crore in the previous fiscal, according to the annual [...]
ICICI Prudential Life Insurance on Monday announced a record bonus of Rs 969 crore for policyholders in FY2022, 12 per cent higher than the preceding fiscal. This is the company's 16th consecutive annual bonus, and the highest ever to date, ICICI Prudential Life said in a release. All participating policies in force as of March [...]
Cosmetics giant, Revlon Inc, had filed for bankruptcy protection, weighed down by supply chain disruptions, rising inflation, and debt obligations. Its shares had plunged more than 82% since January, however, they soared 91.28% on June 17th, 2022 after Reliance Industries considered buying out the company. Mukesh Ambani-led Indian oil-to-retail conglomerate is now mulling bidding for [...]
The shares of two EV companies were beaten down to reach their respective 52-week lows. Amara Raja Batteries Limited slipped 2.58% to ₹449.50 apiece, its new 52-week low. Meanwhile, Graphite India Limited’s shares tanked 4.91% to reach their 52-week low of ₹ 360.30 apiece. Amara Raja Batteries Limited’s share price has been declining since the [...]
Indian equity benchmarks opened on a positive note and the Nifty reclaimed 15300 points on Monday’s early trades. However, losses in the metal and oil & gas sectors offset gains. The tide has turned for metal stocks. Metal stocks in general are melting sharply after a massive outperformance last year. Nifty Metal plunged 4.53% on [...]
Inox Green Energy Services, a subsidiary of Inox Wind, has filed fresh preliminary papers with capital markets regulator Sebi to raise Rs 740 crore through an Initial Public Offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 370 crore and an offer-for-sale of equity stocks aggregating to Rs 370 crore by promoter [...]
