Reserve Bank of India (RBI) on Friday said its board has approved a dividend payment of Rs 30,307 crore to the government for the fiscal ended March 2022. The board approved the transfer of Rs 30,307 crore as surplus to the central government for the accounting year 2021-22 while deciding to maintain the Contingency Risk [...]
Consumer protection regulator CCPA on Friday said it has issued notices to cab aggregators Ola and Uber for unfair trade practices and violation of consumer rights. The Central Consumer Protection Authority (CCPA) has given 15-days time for these two companies to reply to the notices. "We have issued notices to both Ola and Uber. Most [...]
Daimler India Commercial Vehicles Pvt Ltd (DICV) on Friday reported 48 per cent growth in truck wholesales at 14,222 units in 2021. The company, which manufactures BharatBenz brand of trucks and buses, had registered truck wholesales of 9,624 units in 2020. "Despite supply chain headwinds, rising input costs, rising fuel prices and the impact of the [...]
Pharmaceuticals firm Zydus Lifesciences Ltd on Friday reported a 41.47 per cent decline in consolidated net profit at Rs 397.4 crore in the fourth quarter ended March, impacted by higher expenses and one-off inventory related provisions. The company had posted a consolidated net profit of Rs 679 crore in the same quarter of previous fiscal [...]
GE T&D India on Friday reported a loss of Rs 22.53 crore for the March quarter, mainly due to lower revenues. The company had logged a net profit of Rs 16.11 crore in the quarter ended March 31, 2021, a BSE filing showed. Total income dipped to Rs 685.92 crore in the quarter from Rs [...]
Bengaluru, 19th May 2022: OnMobile Global Limited (“OnMobile”), the global leader in mobile entertainment, today announced the financial results for the fourth quarter and full year of FY22 ended March 31, 2022. Highlights: Challenges Arena: Revenue has been doubling every quarter; achieved a mark of over INR 3.5 crore monthly revenue in March’22 Challenges Arena: [...]
The shares of Manappuram Finance Ltd tanked 11.24% yesterday and they continued to fall on Friday’s early deals. They reached their 52-week low of ₹91.85 on the bourses yesterday after the company reported weak numbers for the March quarter. Its shares are currently trading at ₹ 93.20 apiece. It reported more than a 44% slump [...]
Ace Investor Dolly Khanna increased her stake in Rama Phosphates Limited from 2.3% in the December quarter to 2.6% in the March quarter. She holds a total of 4,52,987 shares worth about ₹ 17.9 crores in the company. The shares of Rama Phosphates have given multibagger returns of 304.87 % in the last five years. [...]
Shares of Prudent Corporate Advisory Services on Friday made its debut with nearly 5 per cent premium against the issue price of Rs 630. The stock listed at Rs 660, reflecting a jump of 4.76 per cent on the BSE. At the NSE, it made its debut at Rs 650, a gain of 3.17 per [...]
India's economic growth is likely to be robust at 8.9 per cent in the current financial year, reflecting the country's strong resilience and speedy recovery, Finance Minister Nirmala Sitharaman said on Thursday. Sitharaman also expressed confidence that India will continue to achieve a high growth rate in the next financial year as well, the finance [...]
Ride-hailing app Uber India on Thursday said it has, over the past few weeks, raised fares to cushion drivers from the impact of rising fuel prices across many cities in India. The company said it always strives to make driving with Uber a viable and attractive option for drivers, and added that "the recent hike [...]
Sri Lankan Prime Minister Ranil Wickremesinghe on Thursday accepted a generous offer from Maldivian Speaker Mohamed Nasheed to assist the debt-ridden island nation's bid to secure international relief in the ongoing economic crisis, according to an official statement here. “The Prime Minister accepted the former President’s offer and appointed him to coordinate the relief efforts,” [...]
Indian and Chinese companies are taking lead in use of artificial intelligence compared to their peers in major technically-advanced countries, an IBM survey report said on Thursday. According to the survey, 35 per cent of companies globally reported using AI in their business and when compared with 2021, organisations are 13 per cent more likely [...]
With an aim to provide a holistic picture of all borrowings and the status of encumbrance on the assets of listed entities, capital markets regulator Sebi on Thursday came out with a new format for disclosing security cover to stock exchange and debenture trustee. Also, the regulator has put in place obligations of listed entity [...]
Regulator IRDAI on Thursday asked motor insurance providers to discontinue advertisements showing services, like free pick up and drop of vehicle, which are not part of the insurance cover. General insurance companies enter into service agreements with motor workshops/garages for the purpose of providing motor insurance claim services for repair of accident vehicles. IRDAI said [...]
India Advantage Fund S4 I on Thursday offloaded 18.11 lakh shares of Go Fashion (India) Ltd, which owns women's clothing brand Go Colors, for Rs 190 crore through an open market transaction. According to bulk deal data available with BSE, ICICI Venture through its fourth private equity fund -- India Advantage Fund S4 I sold [...]
The Tata Group-run Air India has banned smoking and consumption of intoxicating substances at the workplace and any employee violating this order will be "dealt with appropriate consequences", the airline's Chief Human Resources Officer (CHRO) Suresh Dutt Tripathi has stated. When asked about the communique issued on Wednesday, an Air India spokesperson said, "We would [...]
Blue chip stocks are the darlings of seasoned investors. These are large mature companies with a history of stable financial performance. However, during the recent market crash of 2022, many blue chip stocks have also corrected heavily from their yearly highs. Here are the top blue chip stocks trading at a huge discount to their [...]
Luxury and premium watch retail player Ethos' initial public offer got subscribed 44 per cent on the second day of subscription on Thursday. The Initial Public Offer (IPO) got bids for 17,61,557 shares against 39,79,957 shares on offer, as per NSE data. The quota for Retail Individual Investors (RIIs) got subscribed 68 per cent, non-institutional [...]
Akasa Air's launch of services is likely to be delayed further as the airline is expected to receive its first aircraft only in June or July, according to a senior DGCA official. The carrier, backed by ace investor Rakesh Jhunjhunwala, initially planned to start operations in June and then postponed the plan to July. A [...]
