Drug major Sun Pharma plans to increase its field force in the domestic market by 10 per cent in the current fiscal in order to drive twin objectives of brand focus and geographical expansion, according to a senior company official. The Mumbai-based drug major, which is the fourth largest specialty generic drug maker in the [...]
Coffee chain operator Tata Starbucks Ltd has reported a 76 per cent growth in revenue to Rs 636 crore for 2021-22 and "significantly" reduced its net loss, driven by normalisation of operations following easing of COVID-related restrictions. Its revenue growth was led by higher realisation from existing stores and new stores added during the financial [...]
The RBI's policy decision would be the major event driving trading sentiment in the equity market this week, while global cues, foreign funds movement and crude oil prices will be the other key factors to watch out for, analysts said. Markets have been witnessing a rebound recently. However, the move lacks decisiveness amid lingering challenges [...]
Tata Motors is gearing up to strengthen its R&D with fresh hiring as well as upskilling of the current employees this fiscal year in order to scale up capabilities across various business verticals, including the electric vehicle segment, as per a top company official. In the EV space, the company is looking to enhance its expertise [...]
The government has shown its intent for privatization after selling Air India and finding a buyer for Neelachal Ispat. It has set a divestment target of ₹ 65,000 crores for this year. Hindustan Zinc Limited The Cabinet Committee on Economic Affairs has approved the sale of the government’s entire remaining stake in Hindustan Zinc Ltd [...]
The shares of Lesha Industries Ltd., an Ahmedabad based small-cap company have given multi-bagger returns over the previous year. The stock closed at its 52-week high of ₹ 29.05, up a whopping 1,186% from its year-ago price of ₹ 2.33. An investment of ₹ 1,00,00 in Lesha one year ago would be worth ₹ 11,04,002 [...]
The Sensex touched its year high of 61,308 points on 17 January. But the rally did not last long and the markets were in throes of panic selling in the first half of March when it hit its low of 52,842. Another steep climb took the index up 14.70% in a matter of one month [...]
The government on Friday said it has issued show cause notices to 16 companies, including NTPC, JSW Steel, Hindalco, Vedanta and Nalco, for delays in operationalisation of coal blocks. Show cause notices are issued from time to time to companies which do not adhere to the timelines prescribed in their agreements for timely operationalisation of [...]
The government will take strict action against exporters who are trying to ship or have shipped wheat by submitting back-dated and improper documents following the ban on exports of the crop, Commerce and Industry Minister Piyush Goyal said on Friday. On May 13, the government banned wheat exports to control domestic prices. However, it allowed [...]
Sebi on Friday revoked the securities market ban imposed on Abhay Bhutada, Managing Director of Poonawalla Finance, in a case pertaining to alleged insider trading activities in the shares of Magma Fincorp, which is now known as Poonawalla Fincorp. After conducting a detailed investigation in the matter, Sebi found that "Abhay Bhutada had not communicated [...]
Essar Power Ltd on Friday said it has agreed to sell one of its two electricity transmission lines to Adani Transmission Ltd for Rs 1,913 crore. The sale is a part of deleveraging strategy following which Essar has repaid over Rs 1.8 lakh crore to banks and financial institutions in the last three years - [...]
The UN food agency would be drafting a food crisis response plan for Sri Lanka amidst threats of a food shortage in the country due to its worst economic crisis. The response of the Food and Agriculture Organisation (FAO) of the United Nations came after Prime Minister Ranil Wickremesinghe had warned of a food crisis [...]
As per the Global IPO report of Ernst & Young (EY), the year 2021 was the best year in terms of the amount raised for the Indian stock market in the last 20 years. The number of companies which raised funds increased 156% year on year basis to touch 110 figures in 2021, up from [...]
Cryptocurrency investing application provider CoinSwitch has unveiled Crypto Rupee Index CRE8, to measure the performance of the Indian Rupee-based crypto market, the company said on Friday. The Crypto Rupee Index tracks the performance of crypto assets that represent over 85 per cent of the total market capitalisation of cryptocurrencies traded in Rupee, a press release [...]
The shares of Deepak Nitrite Limited, a Gujarat based chemical manufacturing company opened 4.40% below at ₹ 1,955.45 from their previous closing price of ₹ 2,045.80 in response to a massive fire that broke out at its facility at Nandesari Industrial Estate yesterday. As of 12:45 IST, the stock was trading at ₹ 1972.35, down [...]
The National Company Law Appellate Tribunal has directed the new board of the debt-ridden IL&FS Group to distribute Rs 16,361 crore of cash and InvIT units available across the Group to its creditors on pro-rata basis. The interim distribution award of Rs 16,361 crore includes Rs 11,296 crore in cash and Rs 5,065 crore in [...]
Shares of Reliance Industries Ltd have managed to give positive returns to the investors in a volatile market and are inching closer to their record high of ₹2,855. Its shares hold a weightage of 11.17% in the Nifty50 index. The share is currently trading at ₹ 2,809.80 on the NSE and is up by 3.11% [...]
Shares of speciality chemicals company Aether Industries on Friday listed with a premium of 10 per cent against its issue price of Rs 642. The stock made its debut at Rs 706.15, registering a jump of 9.99 per cent from the issue price at the BSE. It rallied 20.98 per cent to Rs 776.75. On [...]
On Thursday last week, auto components manufacturer, Goodyear India announced a dividend of ₹100 per share for the financial year ended March 31. It has recommended a final dividend of ₹ 20 per share and a special dividend of ₹80 per share. Within a week of this announcement, the shares of the company soared from [...]
The shares of Mahindra Lifespace Developers Ltd, a Mahindra Group company, are trading at their all-time high of Rs 427.70 and gave a return of 71.77% so far in 2022 YTD. Mahindra Lifespace Developers, founded in 1994, is an Indian real estate and infrastructure development company. This Mahindra company is involved in the business of [...]
