E-commerce logistics SaaS company Shiprocket has inked a deal to acquire a majority stake in its competitor e-commerce platform Pickrr for about USD 200 million (about Rs 1,560 crore) in a mix of cash and equity transaction, the firms said in a joint statement. Shiprocket and Pickrr cater to India's burgeoning D2C (direct-to-customer) sector, where [...]
Minda Industries, a mid-cap auto-ancillary company has announced 8th July as the record date for the bonus share issue and final dividend of the shares. Therefore, to be eligible for the same an investor will have to purchase the stock before the 7th of July. The board has recommended a 1:1 bonus share and a [...]
Hero MotoCorp-backed electric two-wheeler maker Ather Energy is in talks with several state governments to set up a new manufacturing facility in the country, according to sources. The company is said to be in talks with officials of several state governments, including Andhra Pradesh, Maharashtra, Gujarat, Telangana and Karnataka, to set up an additional manufacturing [...]
The Indian and global stock market has taken a hard hit in May-June 2022 because of rising inflation and weak macroeconomic factors. The S&P BSE SmallCap Index has given a negative return of -16.32% in 2022. However, amid the market crash, here is 4 smallcap companies that have more than doubled the shareholder’s money in the [...]
PNB Housing Finance on Tuesday said its board has approved raising up to Rs 2,000 crore by issuing bonds on a private placement basis. The housing finance company, promoted by the city-headquartered Punjab National Bank (PNB), was looking to raise equity capital worth Rs 4,000 crore and struck a deal with joint-venture partner Carlyle Group, [...]
Beijing, Jun 14 (PTI) China has announced plans to provide visas to Indian professionals and their families stranded in India for over two years following the strict visa restrictions imposed by Beijing due to the COVID-19 pandemic. Separately, China is also processing requests of thousands of Indian students studying in Chinese universities who have conveyed [...]
IT services company Wipro Ltd on Tuesday said it expects to ramp up employee count in Norway to 350 in the next two years, and is increasing investment there locally to help clients capitalise on digital transformation. With increased local investment, Wipro is positioning itself as a core part of the business ecosystem in Norway, [...]
Mineral industry body FIMI, Southern Region has sought the withdrawal of the Karnataka government's guidelines on the transportation and export of iron ore from Bellary and two other districts of the state. The Karnataka government in its recent guidelines has allowed the transportation and export of iron ore which has been produced till March 31, [...]
Competition Commission of India on Tuesday said it has approved the proposed acquisition of the entire shareholding of AirAsia India Ltd by Air India Ltd. The proposed combination envisages the acquisition of the entire equity share capital of AirAsia (India) Pvt Ltd by Air India Ltd (AIL), an indirect wholly-owned subsidiary of Tata Sons Pvt [...]
Benchmark indices are marginally higher today after a bloodbath in yesterday’s session. The thirty-share index is hovering at 52,988.11 points, up 0.27%, while the fifty-share index is trading at 15822.50 levels, up 0.30%. Investors are worried about inflation and interest rate hikes by central governments, along with unrelenting foreign fund outflows. Many investors find it [...]
Tata Technologies, a global engineering and product development digital services company has signed a memorandum of understanding with the Tamil Nadu government to transform industrial training institutes into technology centres. The collaboration with the state government is an extension of Tata Technologies' continued efforts to implement projects of high social impact and complement nation building [...]
Bajaj Auto on Tuesday said Shekhar Bajaj has tendered his resignation as a non-executive director of the company due to health reasons. The resignation is with effect from June 30, 2022, the company said in a regulatory filing. Shekhar Bajaj is the chairman and managing director of Bajaj Electricals since 1994. PTI
Shriram City Union Finance on Tuesday said it will raise up to Rs 300 crore by issuing debt securities on a private placement basis. The banking and securities management committee of the company at its meeting held on June 14 has approved issuance of principal-protected market-linked non-convertible debentures (PP-MLD) for an amount of Rs 50 [...]
The stock of Bajaj Auto on Tuesday declined by 5 per cent after the company said its board has deferred a decision on its proposed share buyback. Shares of the company tanked 5.06 per cent to settle at Rs 3,684.40 apiece on the BSE. During the day, it tumbled 7.13 per cent to Rs 3,603.75. [...]
LIC has increased its stake in non-banking finance company Capri Global Capital, to over 7 per cent from 5 per cent earlier, during the February-June period with an investment of over Rs 221 crore, the state-owned insurer said on Tuesday. LIC's shareholding in Capri Global Capital has increased from 88,58,348 equity shares to 1,24,00,000 equity [...]
Zydus Lifesciences on Tuesday said its chairman Pankaj R Patel has been appointed as a part time non-official director in the central board of the Reserve Bank of India (RBl). The Appointments Committee of the Cabinet (ACC) has approved the proposal of appointment of Patel for a period of four years from the date of [...]
Direct-to-consumer firm Mensa Brands on Tuesday said it has acquired the wearables brand Pebble for an undisclosed sum, marking its foray into the smart wearables segment. This will strengthen Pebble's online footprint and amplify its marketing and branding efforts to become a household digital brand, Mensa Brands said in a statement. "In the fast growing [...]
India's palm oil imports declined by 33.20 per cent to Rs 5,14,022 tonne during May this year, but there was sharp rise in shipment of RBD palmolein oil by refineries, industry body Solvent Extractors Association (SEA) said on Tuesday. India, the world's leading vegetable oil buyer, imported 7,69,602 tonnes of palm oils in May 2021. [...]
Volvo Car India on Tuesday said it has set up solar power panels at community and primary health centres in Haryana and Uttar Pradesh. The automaker has set up the panels at Jewar in Gautam Buddh Nagar district in UP, Kheri Kalan in Faridabad and Bhorikalan and Bhangrola in Gurugram districts of Haryana. The company [...]
Wholesale price-based inflation rose to a record high of 15.88 per cent in May on rising prices of food items and crude oil. The Wholesale Price Index-based inflation was 15.08 per cent in April and 13.11 per cent in May last year. "The high rate of inflation in May, 2022 is primarily due to rise [...]
