Debt-laden Reliance Home Finance (RHFL) on Friday reported ballooning of its net loss to Rs 4,522.19 crore for the quarter ended March 2022. It had posted a net loss of Rs 444.62 crore in the same period a year ago. Total income during January-March quarter of 2021-22 fell to Rs 16.35 crore as against Rs [...]
New Delhi, May 6 (PTI) Minister of State for Electronics and IT, Entrepreneurship and Skill Development Rajeev Chandrasekhar on Friday inaugurated five centres of NIELIT in the North East region for skill enhancement of educated youth. These five centres of National Institute of Electronics and Information Technology (NIELIT) are located in Dibrugarh, Dimapur, Jorhat, Pasighat [...]
New Delhi, May 6 (PTI) Equitas Small Finance Bank and the parent Equitas Holdings Ltd on Friday said that the Reserve Bank of India has given its no-objection to their proposal of amalgamation, subject to conditions. "We would like to inform that RBI in its letter dated May 6, 2022 has conveyed its no-objection to [...]
Jaipur, May 6 (PTI) Union Minister of State for Agriculture Kailash Chaudhary on Friday said Prime Minister Narendra Modi-led government at the Centre has implemented all the recommendations of the Swaminathan Commission.The government intends that farmers should get financial support, the cost of cultivation should be reduced, farmers should get improved quality seeds and they [...]
New Delhi, May 6 (PTI) Business services provider Quess Corp Ltd, along with Fairfax Financial Holdings Ltd, will invest Rs 300 crore to set up a paediatric specialty centre at the Kannigapuram campus of Christian Medical College, Vellore in Tamil Nadu. Quess Corp and Fairfax Financial Holdings have signed an agreement to this effect with [...]
Pune, May 6 (PTI) Union minister Nitin Gadkari on Friday said that due to the "wrong economic policies, corrupt governance and visionless leadership" post-Independence, the country suffered greatly, but with Prime Minister Narendra Modi at the helm, people are now talking about "self-reliant, happy, prosperous and powerful" India.Speaking at the inaugural ceremony of the Jain [...]
New Delhi, May 6 (PTI) LIC's public offer, the country's biggest-ever IPO, witnessed full subscription of the retail portion on day three on Friday. The overall issue was subscribed 1.38 times, according to data posted on stock exchanges on 7 pm. Against 16,20,78,067 shares on offer, 22,36,98,915 bids were received. However, the Qualified Institutional Buyer [...]
Bhubaneswar, May 6 (PTI) The Odisha government on Friday approved six projects worth Rs 494 crore, which can create employment opportunities for over 1,300 people in the state, according to an official release.The government's primary focus has been on the labour-intensive sectors such as metal downstream, food processing and plastic industries, which employ a large [...]
Mumbai, May 6 (PTI) Aiming at bigger deals from clients looking for digital services, L&T Group on Friday announced a merger of L&T Infotech and Mindtree, which will create the country's sixth largest information technology company with combined revenue of USD 3.5 billion. The engineering, projects and construction major, which already owns a majority stake [...]
New Delhi, May 6 (PTI) FMCG firm Bajaj Consumer Care Ltd on Friday reported 34.47 per cent decline in its consolidated net profit to Rs 35.82 crore for the fourth quarter ended March 2022. The company had reported a net profit of Rs 54.67 crore in the January-March quarter a year ago, Bajaj Consumer Care, [...]
New Delhi, May 6 (PTI) The handover of loss-making helicopter service provider Pawan Hans to Star9 Mobility Pvt Ltd is likely to get over by June, an official said on Friday.Star9 Mobility Pvt Ltd, a consortium of Big Charter Private Limited, Maharaja Aviation Private Limited and Almas Global Opportunity Fund SPC, emerged as the highest [...]
New Delhi, May 6 (PTI) Debt-ridden Future Group on Friday said it will sell part of its stake in Amar Chitra Katha Pvt Ltd (ACKPL), which publishes Amar Chitra Katha comics, for Rs 13.62 crore.It has entered into definitive agreements on Thursday to dispose of part of its investments held in ACKPL constituting to 18.58 [...]
New Delhi, May 6 (PTI) FMCG firm Bajaj Consumer Care Ltd on Friday reported 34.47 per cent decline in its consolidated net profit to Rs 35.82 crore for the fourth quarter ended March 2022. The company had reported a net profit of Rs 54.67 crore in the January-March quarter a year ago, Bajaj Consumer Care, [...]
Mumbai, May 6 (PTI) Federal Bank on Friday reported its highest quarterly net profit at Rs 540.54 crore for the March 2022 quarter, up 13.13 per cent year-on-year, on improved asset quality and higher loan sales.The Kochi-based bank also guided towards 15 per cent asset growth and matching deposit mop-up this fiscal despite the end [...]
Mumbai, May 6 (PTI) Snapping its four-day winning run, the rupee slumped 55 paise to close at 76.90 against the US dollar on Friday as heavy foreign fund outflows and hardening crude oil prices took a toll on sentiment. Global sentiment was risk-averse on renewed concerns over growth and inflation, which hit most emerging market [...]
New Delhi, May 6 (PTI) With its plan to import Vande Bharat train wheels from Ukraine impeded by the ongoing war, the Indian Railways has decided to manufacture them at its Bengaluru factory to ensure the prime minister's pet project is rolled out on time, say sources. The first batch of 128 wheels, out of [...]
New Delhi, May 6 (PTI) Coromandel International Ltd on Friday said it is set to acquire 45 per cent stake in Baobab Mining and Chemicals Corporation (BMCC) in Africa for about Rs 150 crore and will infuse around Rs 75 crore as debt. In a regulatory filing, the company informed that it is set to [...]
New Delhi, May 6 (PTI) The Delhi Skill and Entrepreneurship University (DSEU) will be setting up a Business Blasters Incubation Centre to boost small businesses and student entrepreneurs, a statement issued by the government said on Friday. The DSEU organised an orientation programme at a government school in West Delhi to apprise students about its [...]
FAANG Stocks, an acronym for the five major technology leader stocks listed on the US Stock exchange, are the darlings of investors worldwide. It consists of Facebook (now Meta) (FB), Amazon (AMZN), Apple (AAPL), Netflix (NFLX), and Google (now Alphabet) (GOOGL). The year 2022 has not been favorable for the investors so far. Dow Jones [...]
Chennai, May 6 (PTI) Canadian billionaire Prem Watsa-owned Fairfax Financial Holdings Ltd along with Bengaluru-based business services provider Quess Corp Ltd on Friday announced the signing of an agreement with Christian Medical College, Vellore, to set up a 350-bed paediatric speciality centre at its campus in Tamil Nadu. Fairfax Financial Holdings and Quess Corp have [...]
