Crisis-hit Sri Lanka on Tuesday raised the petrol price by 24.3 per cent and diesel by 38.4 per cent, a record hike in fuel prices amidst the country’s worst economic crisis due to the shortage of foreign exchange reserves. With the second fuel price hike since April 19, now the most-used Octane 92 petrol would [...]
Net profit of knitwear manufacturer Rupa & Co declined 25.2 per cent at Rs 49.3 crore in the last quarter of 2021-22 as compared to Rs 65.9 crore in the previous similar period, a company statement said. Revenues of the company during the fourth quarter of last fiscal increased marginally to Rs 455.5 crore as [...]
Shares of supply chain company Delhivery Ltd on Tuesday made a muted market debut listing with a nearly 2 per cent premium against its issue price of Rs 487. The stock was listed at Rs 493, a gain of 1.23 per cent from the issue price on the BSE. It later jumped 7.62 per cent [...]
Markets regulator Sebi on Monday imposed a fine of Rs 50 lakh on an individual for indulging in fraudulent trading activities as a "conduit' with respect to initial share sales of two companies more than a decade ago. The companies -- IDFC Ltd and Sasken Communications Ltd -- had come out with their respective Initial [...]
Speciality chemicals company Aether Industries on Monday said it has raised a little over Rs 240 crore from anchor investors ahead of its initial share-sale, which opens for public subscription on Tuesday. The company has allocated a total of 37,42,495 equity shares to anchor investors at Rs 642 apiece, taking the transaction size to Rs [...]
The shares of Chennai Petroleum Corporation Ltd (CPCL) have given a return of 215.39% this year in 2022, moving from a price of ₹103.30 at the start of the year to the current price of ₹350.80. If an investor would have invested ₹1,00,000 in the shares of the company at the beginning of this year, [...]
The Karnataka High Court on Monday extended the stay on the Enforcement Directorate's (ED) order of freezing Rs 5,551 crore in the bank accounts of Xiaomi India. Justice S G Pandit extended the stay till June 1, with the hearing of the case posted to that day. The ED froze Xiaomi's accounts on April 29 [...]
Maruti Suzuki India (MSI) on Monday said it will acquire an equity stake of 12.09 per cent in Sociograph Solutions Pvt Ltd (SSPL) for about Rs 2 crore. SSPL is an artificial intelligence (AI) software company that specialises in visual AI platform predominantly used to help enterprises improve sales experiences and improve efficiency in their [...]
The markets started on a strong footing on Monday, despite mixed cues from Asian markets, however, metal stocks are under tremendous pressure. Steel stocks, in particular, faced deep cuts on Monday’s trades after the government imposed export duties, which may prompt steel companies to review massive capacity expansion plans. The government on Saturday decided to [...]
Multi-channel automobile buying and selling platform, CarTrade Tech Ltd on Monday said it has entered into a strategic alliance with Cholamandalam Investment and Finance Co Ltd to offer easy and smart financing for used cars. Under the partnership, Cholamandalam Investment and Finance (Chola) will become the preferred financier for customers purchasing used vehicles from CarWale [...]
Divi's Laboratories on Monday said its consolidated net profit increased by 78 per cent to Rs 895 crore in the quarter ended on March 31, 2022. The drug maker had reported a net profit of Rs 502 crore in the January-March quarter of 2020-21 fiscal. Revenue from operations rose to Rs 2,518 crore for the [...]
Steel product prices -- which were continuously rising in the domestic market -- are expected to fall by 10-15 per cent due to duty-related measures taken by the government, industry body Engineering Export Promotion Council (EEPC) on Monday said. Reacting to the government's move to levy export duty on some steel items, EEPC India Chairman [...]
Tata Power and Tata Motors have collaborated to develop a 7 MWp solar rooftop project at the latter's passenger vehicle plant in Chikhali, Pune. This is the third phase of a joint 17 MWp on-site solar project developed by the two companies, of which 10 MWp has already been installed, a company statement said. The [...]
Prime Minister Narendra Modi on Monday met Softbank Corporation founder and CEO Masayoshi Son to discuss the Japanese investment firm's future participation in Indian technology, energy, finance and R&D sectors. "Further propelling Japanese investments in India...PM @narendramodi met Founder @SoftBank_Group Masayoshi Son and commended Softbank's role in India's startup sector," MEA spokesperson Arindam Bagchi tweeted. [...]
The shares of Container Corporation of India surged 6.58% on Monday’s early trades. The shares saw a gap-up opening in the morning and are now quoting at ₹611.15 apiece. On May 19, 2022, the company declared its results for Q4FY22. The company clocked a revenue of ₹ 2043 crore, up 5% YoY. Further, its PAT [...]
Prolonged high temperatures are credit negative for India, as that could exacerbate inflation and hurt growth, Moody's Investors Service said on Monday. Over the longer term, India's highly negative credit exposure to physical climate risks means its economic growth will likely become more volatile as it faces increasing, and more extreme incidences of climate-related shocks, [...]
JSW Group on Monday announced the appointment of Gaurav Sachdeva as CEO of its e-commerce venture JSW One Platforms. "Gaurav Sachdeva takes over the role of CEO at JSW One Platforms after his successful tenure at JSW Ventures, where he led venture capital investments for the fund," JSW Group said in a statement. JSW One [...]
Digital payments firm Paytm expects that the issue of RBI ban on its subsidiary Paytm Payments Bank to onboard new customers would be resolved in 3-5 months after the clearance by the banking regulator to the processes being put in place. Paytm group chief financial officer Madhur Deora told PTI on Sunday that the RBI [...]
The board of IT services major Infosys has approved the reappointment of Salil Parekh as Chief Executive Officer (CEO) and Managing Director of the company for five more years, till March 31, 2027, according to a regulatory filing. This is based on the recommendations of the Nomination and Remuneration Committee (NRC) and subject to the [...]
The week started with a jump in the BSE Sensex, tracking gains in US markets and buying in index majors Reliance Industries and HDFC. The 30-share index was trading 488 points higher at 53,281.93 points. The Nifty was trading at 15,921.75 points, up 140 points. On Friday, the benchmark indices clocked sharp gains in a [...]
