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 [...]
NIFTY50 opened in uncertainty on Tuesday after falling 2.40% in its previous trading session. The fall has been attributed to multiple factors such as interest rate hikes by the central banks around the world, rising Covid cases, high inflation and a weakening Rupee. Further, the losses spread to leading large-cap stocks as well as two [...]
The Indian equity investors are facing a hard time in the market in 2022 so far with the NSE’s Nifty 50 has given a negative return of -10.14% YTD. The majority of the Indian stocks are trading in red this year and only 12 out of 50 stocks in Nifty 50 have given positive returns [...]
Hindustan Motors has been hitting the upper circuit for the last 11 trading sessions over the news of its comeback. The shares of the carmaker have climbed 133% in the last month and 187% over the last year. As of 10:00 IST, the stock was trading at ₹ 25.50 per share. As per the developments, [...]
Venture capital firm Sequoia India and Southeast Asia has raised USD 2.85 billion - the highest ever in one tranche by any venture capital fund - to fund startups and other ventures in the region, the company said in a statement. Of the funds raised, USD 2 billion is dedicated to India across two funds, [...]
A promoter entity of packaging solution provider Uflex Ltd on Monday bought the company's shares worth Rs 21 crore through an open market transaction. According to block deal data available with the National Stock Exchange (NSE), Flex International Pvt Ltd purchased 3,65,000 shares from Montage Enterprises at an average price of Rs 585 apiece, valuing [...]
Srei Equipment Finance on Monday said its administrator has received a report from the transaction auditor about certain fraud transactions in FY20 and FY21, bearing a monetary impact of over Rs 3,025 crore on the Srei group. The Reserve Bank had, in early October last year, superseded the boards of Srei Infrastructure Finance Limited (SIFL) [...]
The government on Monday said it will pursue recovery of USD 3.85 billion from Reliance Industries and its partners in the Panna/Mukta and Tapti oil and gas fields case and is mulling an appeal against an English court order over cost recovery dispute in the same fields. Reacting to an English High Court last week [...]
Zydus Lifesciences on Monday said its Rs 750 crore-share buyback offer will commence on June 23 and close on July 6. The drug firm, earlier known as Cadila Healthcare, has fixed July 15, 2022 as the last date for the settlement of bids on stock exchanges which may even happen early, as per a regulatory [...]
Gujarat-based Torrent Power on Monday said it has acquired 50-megawatt solar assets from SkyPower Group at an enterprise value of Rs 416 crore. The solar power plant -- a special purpose vehicle (SPV) located in Telangana -- has a long-term Power Purchase Agreement with Northern Power Distribution Company of Telangana Limited (NPDCTL) for 25 years [...]
The government on Monday asked online food business operators like Swiggy and Zomato to submit a proposal within 15 days on improving their consumer grievance redressal mechanism amid rising complaints from customers. "The Department of Consumer Affairs has directed major e-commerce Food Business Operators (FBOs) to furnish the current framework as well as a proposal [...]
Bharat FIH, a subsidiary of FIH Mobiles and a Foxconn Technology Group company, has received capital markets regulator Sebi's go ahead to raise Rs 5,000 crore through an Initial Public Offering (IPO). The initial share-sale of Bharat FIH comprises fresh issue of shares worth Rs 2,502 crore and an offer for sale of up to [...]
Air-conditioner and commercial refrigeration company Blue Star Ltd on Monday announced the appointment of renowned HR expert Anita Ramachandran as an independent director for a term of five years with effect from June 13, 2022. She will also be a member of the Nomination and Remuneration Committee and the Corporate Social Responsibility Committee, the company [...]
Retail inflation eased to 7.04 per cent in May, mainly on account of softening food prices, though it remained above the RBI's upper tolerance level for the fifth consecutive month, government data showed on Monday. The Consumer Price Index (CPI) based inflation was 7.79 per cent in April. In May 2021, the retail inflation stood [...]
Bitcoin has broken the key support level of $28,500 on Saturday and has dropped to a new low this year. BTC is down by 20% in the past six days and is currently trying to gain the support of near $24,000. The sudden trigger for the crypto crash appears to be a massive selling by [...]
