Seeking to regulate misleading advertisements targeting children, the government on Friday came out with a detailed guidelines that prohibit companies from making false claims on health and nutritional benefits, persuading kids to buy goods and services with promotional gifts, and developing negative body image in children. Under the 'Prevention of Misleading Advertisements and necessary due [...]
Quick Trading and Investment Advisors LLP and Vipul D Modi have settled with market regulator Sebi in case pertaining to alleged insider trading in the shares of Religare Enterprises after paying settlement amount totalling Rs 2.43 crore. Individually, Vipul D Modi paid Rs 22.31 lakh towards settlement charges, while Quick Trading remitted Rs 2.21 crore [...]
Passenger vehicle dispatches to dealers in India rose over two-fold last month on a low base of Covid-19-hit May last year. As per the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle wholesales rose to 2,51,052 units last month as compared to 88,045 units in May 2021. The two-wheeler sales rose to 12,53,187 units in [...]
The basket of crude oil that India buys has hit a decade high of USD 121 per barrel, but retail selling prices of petrol and diesel continue to remain frozen. The Indian basket on June 9 touched USD 121.28, matching levels seen in February/March 2012, according to data available from the oil ministry's Petroleum Planning [...]
Devyani International has been a stable and consistent performer on the bourses since its listing in August last year. The shares of the Yum! Brands’ largest franchise in India gave a listing gain of 31.67% on its opening date. Since then they have climbed 37.8% more and were trading at ₹ 161.40 as of 12:00 [...]
The Abu Dhabi Investment Authority (ADIA) has picked up a 20 per cent stake in IIFL Home Finance for Rs 2,200 crore, a statement said. The Abu Dhabi sovereign wealth fund will make the investment through a wholly-owned subsidiary, said IIFL Home Finance, which is among the largest affordable housing financiers with assets under management [...]
Famous chemical manufacturer, Deepak Nitrite witnessed five major chemical blasts at its manufacturing facility in Vadodara on June 2. The company’s shares have fallen almost 13% in the last five trading sessions amid the news of reports of the Gujarat government issuing a closure notice to the company upon the incident. The shares of the [...]
How to make money with NFTs: In the field of blockchain and cryptocurrency, there is a lot of talk about a new way of making money, which has become a trend in the past year. We are talking about Non-Fungible Tokens – more simply, unique tokens. The token itself is essentially a certificate confirming the [...]
Reddy's Laboratories on Thursday said its subsidiary has inked a pact with US-based Olema Pharmaceuticals Inc to research, develop and commercialise novel small molecule inhibitors of an undisclosed oncology target. Olema and Aurigene Discovery Technologies, a wholly-owned unit of Dr Reddy's Laboratories, have inked an exclusive global licence agreement in this regard. Under the terms [...]
Farm machinery and construction equipment maker Escorts on Thursday said it has received requisite approvals for changing its name to Escorts Kubota Ltd. The name change comes in the wake of Japan's Kubota Corporation increasing its stake in Escorts to 44.8 per cent by subscribing to new equity shares and through an open offer to [...]
The Competition Commission of India (CCI) on Thursday slapped penalties of nearly Rs 30 lakh on seven entities, including individuals, for indulging in manipulation in the bidding process and cartelisation in the tenders floated by the Indian railways. The CCI found that seven entities have violated competition norms. Out of 7 entities, the fair trade [...]
Global full-stack content platform Pepper Content on Thursday said it has raised USD 14.3 million (Rs 110 crore) in its Series A funding round led by Bessemer Venture Partners. The round also saw the participation from Tanglin Venture Partners, Lightspeed, Titan Capital, and seasoned global operators like Gokul Rajaram, Ritesh Agarwal, Abhinav Sinha, Ankur Nagpal, [...]
The Enforcement Directorate has attached a Cessna jet worth about Rs 31 crore under the anti-money laundering law as part of its probe against former CMD of Bhushan Power and Steel Limited (BPSL) Sanjay Singal and others in connection with alleged bank loan fraud, officials said on Thursday. The aircraft, a Cessna 525 A CJ [...]
Sebi has let off Tata Motors Ltd with a warning to be "more careful" in its future dealings in the securities market, saying any adverse orders passed against the company at this stage may not practically serve any purpose for the events accrued over 18 years ago. Apart from Tata Motors Ltd (TML), the market [...]
Export of tea during the last fiscal FY22 declined marginally to 200.79 million kilograms as compared to 203.79 million kilograms in the previous financial year, according to Tea Board data. Offtake by the CIS countries, the largest importer of Indian tea, fell to 42.48 million kilograms in the last fiscal, as against 49.08 million kilograms [...]
A total of 25 people have been convicted by courts in the country for the offence of money laundering while more than 400 arrests have been made since the ED was empowered to investigate serious financial crimes about 17 years back. According to official data accessed by PTI, the Enforcement Directorate (ED) has filed as [...]
Sebi on Thursday barred one person from the capital markets for six months and imposed a penalty of Rs 12 lakh on him for indulging in insider trading in the shares of IT solutions company NIIT Technologies. Apart from these, the regulator has directed the person -- Arvind Mehrotra -- to disgorge loss avoided to [...]
Jio-bp - the fuel retailing joint venture between Reliance Industries and supermajor bp - will set up EV charging and battery swapping stations at properties of real estate developer Omaxe in 12 cities as it looks to take mobility solutions to doorstep of users. In a statement to media, the firms said Omaxe will be [...]
The shares of Metropolis Healthcare Ltd. have halved in value since the start of 2022. Concerns over consolidation led by intensified competition and a broader sell-off in the technology stocks dragged the price down by 55% over the last five months. It was trading for ₹ 1,546 as of 12:35 IST. The diagnostics chain operator [...]
In a crackdown on exporters who had submitted fraudulent letters of credit for wheat exports, the commerce ministry's arm DGFT has imposed monetary penalties on two Mumbai-based entities and decided to initiate criminal proceedings against them. The government has banned wheat exports on May 13, but allowed shipments for which Letters of Credit (LCs) have [...]
