Former chairman and managing director of Religare Enterprises Limited (REL) Sunil Godhwani has been arrested in connection with a 2020 case related to fraud worth Rs 800 crore, police said on Tuesday. Godhwani, who was already in judicial custody in a case registered by the Economic Offences Wing of the Delhi Police for allegedly misappropriating [...]
PB Fintech co-founder and CEO Yashish Dahiya on Tuesday offloaded nearly 38 lakh shares of the company for Rs 230 crore through an open market transaction. PB Fintech operates the online insurance platform Policybazaar and credit comparison portal Paisabazaar. According to bulk deal data available with the National Stock Exchange (NSE), Dahiya sold a total [...]
Capital markets regulator Sebi on Tuesday tweaked the cyber security and cyber resilience framework for stock brokers as well as depository participants and mandated them to conduct a comprehensive cyber audit at least once in a financial year. Along with the cyber audit reports, stock brokers and depository participants have been asked to submit to [...]
Markets regulator Sebi has ordered attachment of bank accounts as well as share and mutual fund holdings of Rose Valley Hotels and Entertainment Ltd and its then directors to recover investors' dues totalling over Rs 1,000 crore. This recovery proceeding has been initiated against them to recover Rs 1,006.70 crore collected by the company through [...]
Ace cricketer Mahendra Singh Dhoni has picked up stake in drone start-up Garuda Aerospace, the company said on Tuesday. Garuda Aerospace is promoted by its founder-CEO Agnishwar Jayaprakash and has over 300 drones and 500 pilots operating in 26 cities. Prime Minister Narendra Modi had unveiled drone manufacturing facilities by the company recently. Dhoni was [...]
Describing winning the bid for acquiring a majority stake in Odisha-based Neelachal Ispat Nigam Ltd (NINL) as "crucial" for the company's growth trajectory, Tata Steel on Tuesday said it provides enablers to go well beyond the 40 MTPA (million tonne per annum) target. Tata Steel arm - Tata Steel Long Products (TSLP)- had in January [...]
The government plans to monetise assets worth Rs 75,220 crore in the coal mining sector in the current financial year. The monetisation of coal blocks is likely to generate a revenue of Rs 52,200 crore, followed by Rs 20,320 crore from projects on Mine Developer and Operator (MDO) model, Rs 2,000 crore from discontinued mines [...]
SoftBank Group-backed Ola Electric is in talks with multiple global suppliers to build a battery cell manufacturing plant in India with a capacity of up to 50-gigawatt hours, sources said. As part of its broader electrification push, the firm plans to invest in companies with advanced cell and battery technology, alongside the 50 Gwh battery [...]
Essar Oil and Gas Exploration and Production Ltd (EOGEPL) on Tuesday said coal seam gas (CBM) output from its Raniganj East block in West Bengal has crossed 0.8 million standard cubic meters per day and is on track to triple the production in 24-30 months. The company was previously handicapped by a lack of a [...]
Large coal-importing nations, including India, will look to ramp up the output of domestic coal to strengthen energy security and lessen dependence on the import of fossil fuels, Moody's Investors Service said on Tuesday. The government has recently mandated CIL to import coal as an emergency measure to avoid a shortage of coal for the [...]
In the previous week, the ministry of consumer affairs asked restaurants to stop the practice of collecting service charges from customers “by default” as it “does not have legal sanction.” The ministry held a meeting with the National Restaurant Association of India (NRAI) on June 2, following complaints from consumers regarding the service charge. Issues [...]
The Income Tax Department on Tuesday said software services provider Infosys has been directed to look into the issue relating to malfunction of search option on the e-filing portal. After many users complained of issues while accessing the I-T portal and reported that it was hacked on Tuesday, which also happens to be the first [...]
The country's largest private sector lender HDFC Bank on Tuesday announced a 0.35 per cent hike in lending rate. The hike, which comes a day ahead of the RBI's scheduled policy review, is the second such move from the lender in as many months, taking the cumulative hike to up to 0.60 per cent. The [...]
Multibagger Stock: The shares of Abhinav Capital Services Ltd were locked at a 5% upper circuit at ₹247.90 apiece, clocking their fresh 52-week high. They have been hitting the upper circuit for 22 sessions in a row! However, they touched their 5% lower circuit on Tuesday’s early trades and their share price declined after a [...]
The Tea Board, under the commerce ministry, has issued directions to all producers and sellers of the commodity to strictly comply with quality norms of food safety regulator FSSAI before selling the product, an official said. The board has cautioned that no tea consignment that has failed on Food Safety and Standards Authority of India [...]
Amid continuing volatility in the stock market, Finance Minister Nirmala Sitharaman on Tuesday said retail investors seem to act as shock absorbers even when foreign portfolio investors went away. Speaking at an event of the corporate affairs ministry as part of the Azadi ka Amrit Mahotsav, Sitharaman said that during the pandemic, there has been [...]
Investment management firm Anicut Capital on Tuesday said it has raised Rs 110 crore to acquire equity stakes in startups across sectors. This is the first close for the Rs 500-crore Anicut Opportunities Fund I. The fund will be deployed to take stakes in up to 15 growth stage companies, as per an official statement. [...]
Amid the global trends, Indian indices witnessed a weak start on Tuesday. Nifty50 opened with a gap down at 16,470 and it is currently down by 100(1.17%) points from its opening. Sensex also opened at a gap down at 55,377 points and is trading at 54,960 points. Titan Company Ltd which holds a 1.2% weightage [...]
Anand Mahindra, the eclectic chairman of the Mahindra Group makes rounds every now and then with his acclaiming but sometimes critical tweets. Similarly, the shares of the Mahindra Group companies have been in the limelight due to their impressive Q4 results. Here are three companies which have their ex-dividend dates approaching in the near future. [...]
Mitsubishi Electric Corporation on Tuesday said it will invest about Rs 220 crore (3.1 billion yen) in its Indian subsidiary to set up a new factory in Maharashtra. The new factory will be set up near Pune in Maharashtra. Its subsidiary Mitsubishi Electric India will manufacture inverters and other factory automation (FA) control system products, [...]
