The initial public offer of Paradeep Phosphates was subscribed 1.75 times on the last day of subscription on Thursday. The IPO received bids for 47,02,00,150 shares against 26,86,76,858 shares on offer, according to NSE data. The portion meant for qualified institutional buyers got subscribed 3.01 times, retail individual investors 1.37 times and non institutional investors [...]
In view of difficulties being faced by exporters in getting payments from crisis-hit Sri Lanka, the RBI on Thursday allowed settlement of trade transactions in Indian rupee outside the Asian Clearing Union (ACU) mechanism. In March, the government had guaranteed a term loan of USD 1 billion extended by the State Bank of India (SBI) [...]
The government on Thursday said it has decided to lift the price cap of Rs 6,500 per quintal on raw jute from May 20 this year. It is expected that the cap removal will help the farmers, mills and jute MSME sector, wherein over 7 lakh people are dependent on the jute trade in addition [...]
The Assam Police has issued an advisory to Oil India Ltd (OIL) and ONGC regarding probable subversive activities by banned ULFA(I) militants on their installations in the state as well as their employees, officials said on Thursday. The two PSU energy majors have taken the security input "seriously" and already issued a series of "dos [...]
Punjab & Sind Bank on Thursday reported an over two-fold jump in net profit at Rs 346 crore for the quarter ended March 2022, helped by a decline in bad loans. The state-owned lender had posted a net profit of Rs 160.79 crore in the same quarter of the preceding fiscal year. Total income during [...]
NSE Academy, a subsidiary of National Stock Exchange (NSE), on Thursday said it has collaborated with Emkay Investment Managers, the asset management arm of Emkay Global Financial Services, to offer training programmes on future technologies. The NSE arm has signed an agreement with Emkay Investment Managers Ltd (EIML) to launch a programme "Definitive Course on [...]
E-commerce platform for pre-owned vehicles CARS24 has cut nearly 600 jobs in India, which the company on Thursday described as "performance-linked exits". CARS24, which also has presence in the Middle East, Australia and Southeast Asia, employs around 9,000 people in India. "This is business-as-usual performance-linked exits that happen every year," the company said when reached [...]
Brokerage house HDFC Securities on Thursday said it will be opening multiple digital centres in the country to boost digital adoption for its customers. This announcement is a part of the company’s commitment to empower its clients with the latest technological solutions to ease their trading journey, while helping them to take charge of their [...]
Russia’s state-owned and largest airline Aeroflot, Ural Airlines and Rossiya Airlines will now be unable to sell their lucrative landing slots at UK airports as part of new sanctions imposed by the Boris Johnson government on Thursday. The additional sanctions being imposed as a reaction against the ongoing Russia-Ukraine conflict, follow an earlier move to [...]
Bajaj Allianz Life Insurance on Thursday said it has declared a bonus of Rs 1,070 crore for its policyholders in the fiscal ended March 2022. The company has announced the bonus for the 21st consecutive year. The life insurer said those having participating policies which are in-force for the full sum assured as of March [...]
Within a fortnight of laying off 200 employees, edtech firm Vendantu has further fired 424 employees from the company citing tough external environment and fear of recession. Vedantu, after laying off 200 employees, had shared it's plan of hiring 1,000 employees this year. "Today I am writing about one of the toughest decisions we had [...]
Ajmera Realty & Infra India on Thursday reported 12 per cent increase in consolidated net profit at Rs 14.01 crore for the quarter ended March 2022. Its net profit stood at Rs 12.48 crore in the year-ago period. Total income rose to Rs 183.62 crore in the fourth quarter of the last fiscal year from [...]
Veteran industrialist Ratan Tata and Tata Sons on Thursday welcomed the Supreme Court's dismissal of a plea of the Sapoorji Pallonji (SP) group seeking a review of the verdict that upheld the Tata group's removal of Cyrus Mistry as Chairman of Tata Sons. Reacting to the development, in a statement Tata, who is the Chairman [...]
Cloud certification and skilling platform QwikSkills has raised Rs 3.85 crore in a seed funding round led by Indian Angel Network (IAN) along with other investors. The funding was led by angel investors Manish Sinha and Naveen Gupta of IAN, according to a statement. IAN leads Rs 3.85 crore investment in cloud certification and skilling [...]
NITI Aayog CEO Amitabh Kant on Thursday said it is the private sector's job to create wealth and the government should focus on laying down public policy framework. Addressing 'GovTech Summit 2022', Kant further said India needs a very simple, efficient, and transparent government. "The government's job should be laying down public policy framework, it [...]
Billionaire Gautam Adani's group has created a new company for its foray into healthcare services through the acquisition of large hospitals, diagnostic chains, and offline and digital pharmacies. Adani Enterprises Ltd - the group's business incubator firm - in a regulatory filing said a wholly-owned subsidiary, Adani Health Ventures Ltd (AHVL) was incorporated on May [...]
APM Terminals Pipavav (Gujarat Pipavav Port Ltd) on Thursday reported a 10 per cent rise in net profit at Rs 72.4 crore for the quarter ended March 31, 2022. The private port operator had recorded a net profit of Rs 65.4 crore in the corresponding quarter of fiscal year ended March 2021, according to a [...]
Dr Reddy's Laboratories Ltd on Thursday said its consolidated profit after tax for the quarter ended March 31 was down by 76 per cent to Rs 87.5 crore against Rs 362.4 crore in the same quarter a year ago. Revenues during the quarter under discussion were up by 15 per cent to Rs 5,436.8 crore [...]
The share price of La Tim Metal & Industries Ltd increased from ₹ 74.45 in November 2021 to ₹ 192 apiece, giving multibagger returns of 157.89% in just six months. In the last 5 years, the company’s share price surged from ₹37.50 apiece to the current levels, giving multibagger returns of 412.00%. If an investor [...]
Axis Asset Management Company, the mutual fund promoted by Axis Bank, has terminated its chief trader and fund manager Viresh Joshi, who was facing allegations of front-running. Front-running refers to an illegal practice in the stock market where an entity trades on the basis of advance information from a broker or analyst before the information [...]
