Latest News and Updates

18th Aug, 2022

Tata Power-led subsidiary allots equity shares worth Rs2000 crore on preferential basis

Published on: 3:25 pm

  • The Tata Power Company Limited stocks in focus today as it announced the exchanges regarding preferential allotment by Tata Power Renewable Energy Limited, a wholly owned subsidiary of the company.
  • In a regulatory filing, the company informed that the Board of Directors of Tata Power Renewable Energy Limited has approved the allotment of 8,36,05,049 Equity shares of Tata Power Renewable Energy of the face value of Rs10 each at a price of Rs239.22 per Equity share (including premium of Rs229.22) aggregating to Rs1999,99,99,822 on a preferential basis to GreenForest New Energies Bidco Limited, a Company incorporated under the laws of England and Wales. Read more

Brickworks reaffirms rating on Jindal Worldwide’s facilities worth Rs565.66 crore

Published on: 3:20 pm

  • Jindal Worldwide Limited informed that Brickwork Ratings Limited has reaffirmed the ratings assigned to the company’s bank facilities.
  • The rating agency has reaffirmed the ‘BRW AA-’ rating on Jindal’s long-term bank facilities worth Rs415.66 crore. Brickworks also reaffirmed the Stable outlook on its facilities.
  • Further, the rating agency has also reaffirmed ‘BWR A1+’ short-term rating on the company’s bank facilities worth Rs150 crore. Read more

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Maruti Suzuki unveils all-new Alto K10

Published on: 2:58 pm

  • Maruti Suzuki India Limited has introduced the All-New Alto K10. It is a true symbol of pride, trust, and dependability, and is now available with new exteriors, spacious interiors, improved performance, and a slew of comfort, safety, convenience, and connectivity features.
  • The All-New Alto K10, launched with the tagline #IndiaKiChalPadi, is ready to take off once more in style, after putting millions of customers behind the wheel over its unparalleled 22-year journey.
  • For today's customers who want to feel confident, satisfied, and comfortable, the All-New Alto K10 is an active enabler of a better life. Read more

Mr. Mukesh Manveer, Chairman & Managing Director, Debock Group

Published on: 2:45 pm

  • Mr. Mukesh Manveer, Chairman and Managing Director, Debock Group, talks to India Infoline.
  • Please tell us about your company and its products and services.
  • NSE listed, Debock Group was established in the year 2008 with the vision of growth and giving the best services and good quality of products to the country. The Debock Group has interests in Real Estate, Infrastructure Development, Sales and Marketing, Agriculture Products and in Hospitality Industry. We are looking forward to foray in the education sector too in the future. Read More

In June, Jio added 4.2 million users while Airtel added 0.79 million

Published on: 2:44 pm

  • Reliance Jio increased its mobile client base by 4.2 million in June, building on gains from the previous month. In contrast, according to Trai data for the month, Airtel only added 0.79 million consumers while Vodafone Idea continued to lose customers, shedding 1.8 million. With these additions, Jio's total number of wireless subscribers reached 413 million. Read more

BMTC offers Tata Motors a contract for 921 e-buses

Published on: 2:33 pm

  • The Bengaluru Metropolitan Transport Corporation has placed an order with Tata Motors for 921 electric buses, the company stated on Thursday (BMTC). In a statement released by the firm on Thursday, Tata Starbus was described as "an indigenously produced vehicle with excellent design and best-in-class features designed for sustainable and comfortable travel." Read more

Lupin gets USFDA approval for Rufinamide Tablets USP

Published on: 2:31 pm

  • Global pharma major Lupin Limited on Thursday has announced that it has received United States Food and Drug Administration (FDA) approval for its Abbreviated New Drug Application (ANDA), Rufinamide Tablets USP, 100 mg, 200 mg, and 400 mg, to market a generic equivalent of Banzel Tablets, 100 mg, 200 mg, and 400 mg, of Eisai Inc. 
  • In addition to this, the product will be manufactured at Lupin’s facility located in Goa, India. Read more

Dilip Buildcon executes EPC agreement worth Rs1,400.04 crore; stock climbs ~1%

Published on: 2:17 pm

  • Dilip Buildcon Limited informed that Skyway Infraprojects Private Limited DBL-SIPL (JV) has executed an EPC agreement with the Madhya Pradesh Jal Nigam, Maryadit Bhopal (M. P.) on August 17, 2022.
  • The company stated that the project is for Engineering, Procurement, Construction, Testing, Commissioning, Trial Run, and Operation & Maintenance of Various Components of the Gandhisagar-2 Multi-Village Scheme. This includes Districts Mandsaur and Neemuch in Single Package on 'Turn-Key fob Basis' including Trial Run and Operation & Maintenance of the Entire Water Supply Scheme.
  • The said scheme is applicable for 10 years in the state of Madhya Pradesh. Read more

Sona BLW Precision drops 6% following significant block deals

Published on: 2:16 pm

  • In Thursday's intra-day trade on the BSE, Sona BLW Precision Forgings (Sona Comstar) equity shares fell 6% to Rs505 after more than 100 million of the company's equity shares were traded in block trades.
  • According to data from the exchanges, as of 9:30 am, 126 million equity shares, or 21.56 percent of Sona Comstar's total equity, had combinedly traded hands on the BSE (92.2 million) and NSE (33.7 million) markets. According to data, a change in ownership of 86.4 million equity shares, or 14.79% of the company's total equity, occurred at 9:15 am. It was not possible to instantly determine the names of the purchasers and vendors. Read more

Kilpest India-led arm bags order for its CE-IVD TRUPCR Panel Kit

Published on: 1:56 pm

  • Kilpest India Limited announced that its subsidiary company M/s. 3B BlackBio Biotech India Limited has got an export order valued at Rs2 crore.
  • The order received is for its recently launched CE-IVD TRUPCR UTI ID Panel Kit and TRUPCR UTI AST Panel Kit.
  • This RT-PCR-based multiplex panel detects and differentiates 14 pathogens that cause urinary tract infections (UTI) as well as 14 antimicrobial resistance (AMR) genes encoding resistance to 5 classes of antibiotics in a single run directly from native urine samples within 5 hours. Read more

Aurobindo Pharma completes acquisition of 51% stake in GLS Pharma; Stock rises

Published on: 1:46 pm

  • Aurobindo Pharma Limited informed to the exchanges regarding completion of acquisition of 51% stake in GLS Pharma Limited.
  • As per the filing, the pharma company earlier informed that the Board of Directors at its meeting held on June 17, 2022, has approved the acquisition of 51% equity shares in GLS Pharma Limited, operating in oncology business and having manufacturing facility in Hyderabad for a total consideration of Rs28.05 crore. Read more

Foundamental, Axilor, Others provide $2 million funding to Prolance

Published on: 1:15 pm

  • The $2 million round of funding for Prolance, a SaaS firm for design-to-manufacturing, was headed by Foundamental and Axilor. In the fundraising round, Arali Ventures and Force Ventures also took part.
  • Prolance, a business founded in 2020 by Rama Harinath K, Vivek Parasuram, Raghunathan Gururajan, Jaisimha Sathyanarayana, and Manoj K, assists interior design firms in automating production processes from estimate through CNC file generation. Read More

Crompton Greaves Consumer Electrical allots over 8.5 lakh equity shares under ESOS; Stock gains 1%

Published on: 1:00 pm

  • Crompton Greaves Consumer Electrical Ltd has informed to the exchanges regarding allotment of shares under Company's Employee  Stock Option Scheme.
  • As per the filing, the Company has allotted 8,56,066 (Eight Lakh Fifty Six Thousand Sixty Six) Equity Shares of Rs2/- (Rupees Two only) each on August 18, 2022, to the grantees who had exercised their options under the Employee Stock Option Schemes. Read more

Datamatics partners with AccessFares to enhance customer experience; stock marginally up

Published on: 12:44 pm

  • Datamatics Global Services Limited, a global Digital Technologies, Operations, and Experiences Company, has formed a long-term strategic alliance with AccessFares, a trusted market leader in providing premium international airfares at significant discounts, to provide the best pricing and services to its customers worldwide.
  • Datamatics strives to enhance customer experience by managing premium international airfare services and creating value across the entire air ticketing, invoicing, and billing process through this partnership.
  • A diverse team will be deployed from the Philippines and India, with agents handling a variety of services such as new issuances, re-issuances, refunds, and so on. Datamatics will also implement query handling and resolution for Ancillary Customer Services as part of the project. Read more

Your guide to all important developments around monkeypox vaccines

Published on: 12:44 pm

  • More than 24,000 cases of monkeypox have been reported as a result of the global outbreak in more than 80 countries, and the World Health Organization has issued a warning that time is running out to stop the illness from spreading outside of Africa. Vaccines stand in as a potential lifesaving strategy.
  • Worldwide distribution of the monkeypox vaccine has already begun, and news sources have depicted a "scramble" as nations hurry to obtain some of the few available doses. There are worries that less developed countries would be left hanging for the monkeypox vaccines. However, there are still many unknowns regarding the vaccinations' potential efficacy. Read more

12% of microfinance loans currently NPAs

Published on: 12:17 pm

  • Despite an improvement in overall repayment collection, Sa-Dhan, the trade association for the microfinance business, said that at the end of June, almost 12% of all microfinance loans totaling Rs 2.76 lakh crore were still non-performing assets (NPA).
  • NPA amounts to Rs33,000 crores of rupees. "The recovery rate has increased from the previous quarter and is already close to 99% in some states. But there are still certain regions where the collecting is below average. For instance, Assam has a collecting efficiency of 50–55% "According to Sa-quarterly Dhan's report. Read more

Power Mech Projects hits 52-week high on securing work order worth Rs6,163.20 crore

Published on: 12:15 pm

  • Power Mech Projects Ltd stocks in the fast lane on Thursday's trading session as the company has received Letters of Award (LOA) worth Rs6,163.20 crore from Adani Group.
  • The Letter of Award includes 5 Flue Gas Desulphurisation (FGD) Projects from Adani Group for installation of 15 FGD retrofits to coal based units situated at Mundra, Tiroda, Kawai and Udupi, on a complete EPC basis, to be executable over a 30 months period of time for their plants ranging between 330 MW to 660MW. Read more

Cabinet to inject Rs50,000 crore in Hospitality Industry via emergency credit line

Published on: 12:14 pm

  • The Union Cabinet has increased the corpus of the Emergency Credit Line Guarantee Scheme (ECLGS) from Rs4.5 lakh crore to Rs5 lakh crore, specifically for the hospitality sector.
  • In her Budget speech this year, Union Finance Minister Nirmala Sitharaman announced that the scheme for Micro, Small, and Medium Enterprises (MSMEs) will be extended by one year up to March 31, 2023. Further, she emphasized that the guaranteed cover would be increased by Rs50,000 crore to a total of Rs5 lakh crore with a primary focus on the ‘Hospitality Sector’. Read more

Get ready for the rollout of 5G Spectrum, says Telecom Minister

Published on: 12:06 pm

  • On Thursday, Telecom Minister Ashwini Vaishnaw urged telecom service providers to get ready for the rollout of 5G following the issue of spectrum allocation letters. At first, the Department of Telecom (DoT) issued letters of spectrum assignment on the same day that the successful bidders of radio waves made advance payments.
  • "A letter assigning the spectrum has been released. Instructing TSPs to get ready for 5G debut, "On a social media website, Vaishnaw posted. In exchange for the spectrum they recently won in an auction, service providers Bharti Airtel, Reliance Jio, Adani Data Networks, and Vodafone Idea paid the DoT about Rs17,876 crore. Read more

Centre to approach TPG, Carlyle, Fairfax for IDBI Bank stake sale: Report

Published on: 11:46 am

  • The Center is understood to have approached global buyout funds and financial institutions, such as Carlyle group, TPG Capital and love controlled fairfax Holdings, to measure investor interest in buying a majority stake held directly by the centre government and the (bail-out) lender, investment banking and private equity officials familiar with the matter told "Economic Times".
  • The Department of Investment and Public Asset Management (DIPAM), which oversees the administration of government equity in operating companies, tapped buyout funds and bump-bracket financiers during investor roadshows held at several global banking centers, at events such as Industry sources who participated in the said.
  • One of the associated people said, “The talks are in the early stages and the government has not yet fixed any deadline for the stake sale.” “However, buyout funds and some domestic-related strategic investors have been excluded." Read more

Accuracy Shipping commences operations of 3 Heavy Commercial Vehicle showrooms

Published on: 11:44 am

  • Accuracy Shipping Limited informed that it has commenced the Commercial Operations of all three showrooms of Heavy Commercial vehicles under the dealership of Ashok Leyland.
  • The company has started operations in all three aspects namely, HMCV, Spare Parts, and services.
  • One of the showrooms is located in Madhapar, Bhuj, Kutch, Gujarat, another in Village Dhrab, Mundra, Kutch, Gujarat, and last in Gandhidham, Anjar Road, Galpadar, Kutch, Gujarat. Read more

Cactus Venture Partners secures finance worth Rs350 crore

Published on: 11:25 am

  • As the fund is actively in conversations with domestic and international institutional investors for the ultimate close of its fund target of Rs750 crore by December 2022, venture capital firm Cactus Venture Partners (CVP) said on Wednesday that it has raised Rs350 crore in fundraising.
  • The fund will concentrate on making investments in B2B SaaS, clean tech, and health tech businesses in India.
  • Since its founding in 2021 by Anurag Goel, Amit Sharma, and Rajeev Kalambi, CVP has made investments in early-stage technology and direct-to-consumer (D2C) firms. Read more

Dynacons wins order worth Rs105 crore from Life Insurance Corporation of India; Stock jumps 5%

Published on: 11:21 am

  • Dynacons Systems & Solutions Ltd has won the order from Life Insurance Corporation of India for Workplace Solutions including the Supply, Installation and support of IT Infrastructure for their offices / branches all over India.
  • The overall Value of the order for all the zones to Dynacons is Rs105 crore.
  • As per the filing, LIC is one of the oldest & largest Life Insurance Company in India. It has 5 Zonal offices, 117 Divisional offices, 2048 Branch offices & 2900+ other offices. Read more

Venture Catalysts Group Fund is supported by Yes Bank

Published on: 11:14 am

  • Yes Bank has made an undisclosed investment in the Venture Catalysts Group Fund, an integrated startup incubator that provides business entrepreneurs with cash, mentorship, and a network.
  • Additionally, the bank has invested in two of its affiliated companies, Beams Fintech Fund, and 9 Unicorns.
  • It gives us great pleasure to collaborate with Venture Catalysts and its affiliated platforms, Beams Fintech Fund and 9 Unicorns Accelerator Fund. Ajay Rajan, country head, transaction banking of Yes Bank, stated, "We think this cooperation is on the route to being the go-to bank for technology entrepreneurs." Read more

Hindustan Aeronautics to expand footprint in Malaysia with its new office; stock zooms ~2%

Published on: 11:04 am

  • In the presence of Secretary of Defence, Ajay Kumar, Hindustan Aeronautics Limited signed an MoU to establish an office in Kuala Lumpur (Malaysia).
  • Ravi K, GM, LCA, HAL, and Major Mod Husairi Bin Mat Zain of Forte Drus, HAL's official representative in Malaysia, signed the MoU.
  • B. N. Reddy, India's High Commissioner in Malaysia, Sanjay Jaju, Additional Secretary (Defense Production), and others were also in attendance. Read more

RBI requests feedback on digital payment fees from those involved in the payment system

Published on: 11:03 am

  • A discussion paper on the fees assessed on various payment methods, including RTGS, NEFT, UPI, IMPS, and credit, and debit cards, among others, was published by the central bank on Wednesday. The regulator has requested views from all parties involved in the payment system on whether UPI costs should be implemented or left up to the market, as well as suggestions for rules governing interchange fees for debit and credit cards. Stakeholder comments on the paper are welcome until October 3, 2022. Read more

Day 3 subscription for the Syrma SGS Technology IPO was 2.27 times

Published on: 10:49 am

  • According to information available on the stock exchanges, Syrma SGS Technology's Initial Public Offering (IPO), one of the fastest-growing Indian-headquartered providers of electronic design and manufacturing services for international and domestic Original Design and equipment manufacturers (ODMs and OEMs), received bids of 6,48,39,020 shares versus the offered 2,85,63,816 equity shares at a price range of Rs 209–220. On the third day of bidding, the issue was subscribed 2.27 times overall..
  • 3.58 times as many non-institutional investors in the restricted portion subscribed. The Retail Investors segment received 2.66 times as much interest. The share set aside for Qualified Institutional Buyers received 0.71 times as much interest. The issue's subscription period opened on Friday, August 12, and it ends on Thursday, August 18, this week. Read more

Under the UDAN program, almost 1 crore people flew in last five years

Published on: 10:44 am

  • According to an official statement issued on Wednesday, more than one crore passengers have flown in the past five years while taking advantage of the Regional Connectivity Scheme UDAN (Ude Desh ka Aam Nagrik), the Ministry of Civil Aviation's flagship program.
  • On October 21, 2016, the initiative was launched with the goal of achieving the goals of the average citizen by implementing the "Ude Desh ka Aam Nagrik" vision, with improved aviation structure and air connectivity in tier II and tier III cities.
  • On April 27, 2017, the first flight under the programme was launched by Prime Minister Narendra Modi. Regional aviation connection in the previous five years has considerably grown thanks to UDAN. Read More

Stride Ventures garners $200 million for a new fund

Published on: 10:43 am

  • After the first closing of the fund in August 2021, the venture debt firm Stride Ventures announced the $200 million close of its Fund II. Fund II was initially established in May 2021. Banks, family offices, corporate treasuries, sovereign funds, private equity (PE) funds, insurance companies, and high net worth individuals were among the limited partners or sponsors in the second fund (HNIs).
  • Ishpreet Singh Gandhi, the founder and managing partner of Stride Ventures, told ET, "The growing investor trust in the Indian startup ecosystem gave us a tremendous opportunity to establish a solid pipeline of deployments that we have used across many sectors.
  • Stride has invested in industries including consumer, fintech, agritech, business-to-business (B2B), health tech, mobility, and energy solutions. Read More

With $32 million in investment, Shiprocket becomes a unicorn

Published on: 10:41 am

  • According to the most recent regulatory filings obtained by business intelligence platform Tofler, logistics aggregator Shiprocket has accepted a Rs259 crore ($32 million) financing round from current investors Singapore's Temasek and Lightrock India.
  • This raises its estimated value to $1.3 billion, making it the newest member of this year's unicorn club. Startups with a $1 billion or higher valuation are known as unicorns.
  • After funding $185 million in a round led by food delivery service Zomato, Temasek, and Lightrock in December, Shiprocket was valued at $900-$950 million. Read more

Early trade sees decline in prices of gold and silver

Published on: 10:34 am

  • Early on Thursday, the price of gold and silver decreased. 10 grams of 24 karats yellow metal are currently trading at Rs52,250, down Rs110. Silver is currently being sold at Rs57,600 per kg despite decreasing by Rs 200. The price of ten grams of 22-carat gold on Thursday is Rs47,900, down Rs100.
  • The price of 10 grams of 24-carat gold in Mumbai and Kolkata was Rs52,250, while the price of 22-carat gold was Rs47,900. On Thursday, the price per 10 gm of 24- and 22-carat yellow gold in Delhi was Rs52,400 and Rs48,050, respectively. Read More

To cut costs, Dunzo encouraging users to choose the 60 minute delivery option

Published on: 10:32 am

  • In order to save delivery costs, the quick delivery startup is encouraging customers to choose 60-minute deliveries and group orders.
  • After a busy first half of the year, during which it scaled operations of its 15-20 minute grocery delivery service, Dunzo Daily, Reliance Retail-backed rapid commerce platform Dunzo is shifting gears on its growth momentum. It completed a $240 million investment round in January, with Mukesh Ambani's Reliance Retail taking a 25% stake in the firm. Read more

TCI Express’ Rs75 crore Buyback starts today; stock soars ~2%

Published on: 10:31 am

  • TCI Express Limited informed that in regard to the Public Announcement dated August 09, 2022, the company has started the Buyback today i.e., August 18, 2022.
  • This Buyback shall close either on February 13, 2023 (six months from commencement date), or when the Company completes the Buyback by deploying the amount equivalent to the Maximum Buyback Size, or at such earlier date as may be determined by the Board or its Committee of Directors, after giving notice of such earlier closure. Read more

In early trading, the Indian rupee falls 23 paise to 79.68 / $

Published on: 10:29 am

  • In early trade on Thursday, the rupee lost 23 paise to 79.68 US cents against the US dollar, following the strength of the US dollar in international markets and a flat domestic equity market. The rupee started out at 79.60 versus the US dollar on the interbank foreign exchange but later dropped to 79.68, losing 23 paise from the previous close.
  • The rupee appreciated 29 paise on Wednesday, ending the day at 79.45 against the dollar. The Federal Open Market Committee (FOMC) meeting minutes revealed that although things are slowing down in the US, the Fed is not finished raising interest rates, which helped the dollar index, which measures the strength of the US currency against a basket of six other currencies, rose 0.06 % to 106.64. Read more

SC fines the Centre Rs1 lakh for its callous behavior

Published on: 10:28 am

  • For its "callous, inconsiderate, and casual conduct" that resulted in the cancellation of a coal block that had been legitimately granted to the private company BLA Industries in Madhya Pradesh in 1997, the Centre was fined Rs1 lakh by the Supreme Court on Wednesday.
  • By declaring that "Any such demand raised by the respondent No. 1 - UOI is thus quashed and set aside," the top court further found that the Union Coal Ministry was not authorized to request payment of an additional levy for the coal extracted by the private company from the mine.
  • The sequence of events in the case involving BLA Industries was discussed by a bench made up of Chief Justice N V Ramana, Justices Krishna Murari, and Hima Kohli. BLA Industries had adhered to the law when securing "Gotitoria (East & West) Coal Blocks" in the Mohapani Coalfield in Madhya Pradesh to satisfy the captive power plant's coal needs. Read More

Piyush Goyal asks textile industry to double its revenues in the next 5-7 years

Published on: 10:24 am

  • India's textile ecosystem, according to textile minister Piyush Goyal, can reach $250 billion in the next 5 to 7 years and contribute to the development of the nation's economy.
  • He also urged businesses to take full advantage of the free trade agreements (FTA) that India is negotiating at the Asian Textile Conference (ATEXCON), which was held by the Confederation of the Indian Textile Industry.
  • Goyal urged the textile industry to grow to a $100 billion industry at the earliest opportunity, saying that India could have at least a quarter of a trillion dollars' worth of textile ecosystem in the next 5-7 years and "become a developed country." Read more

Essar and D A Roberts agree on a new 60 million liter fuel contract

Published on: 10:20 am

  • Essar Oil UK Ltd announced on Wednesday that it has reached a five-year agreement to provide 60 million liters of fuel to D A Roberts in Shropshire, which operates bunkers to sell fuel locally.
  • The agreement will enable the business to purchase fuel directly from its production source to increase efficiencies and deliver economies of scale savings, the firm said in a statement. D.A. Roberts' Grindley Brook garage in Whitchurch, Shropshire, will be rebranded as an Essar outlet.
  • Only six refineries exist in the UK, and Essar's Stanlow refinery will deliver premium goods directly to retailers like D A Roberts at competitive pricing. Read more

Thomas Cook & SOTC introduce a range of holidays and special offers ahead of festive season

Published on: 10:19 am

  • Thomas Cook (India) Limited and its Group Company, SOTC Travel, have launched special range of Festive Holidays across domestic and international destinations.
  • Destinations leading demand include short haul/easy visa destinations like Dubai, Abu Dhabi, Indonesia, Vietnam, Cambodia, Maldives, Singapore, Thailand, Malaysia, Mauritius; also Nepal and Bhutan in the Indian subcontinent. Most preferred long and mid haul destinations are USA (for visa holding customers), Australia, New Zealand, Turkey, Jordan, Egypt, Europe, UK; domestic favourites include Kashmir, Himachal Pradesh, Uttarakhand, Ladakh, Rajasthan, Kerala and Goa. Read more

Daikin India to spend Rs500 crore to construct an R&D facility in Rajasthan

Published on: 10:18 am

  • Daikin India, a maker of air conditioning equipment, announced on Wednesday that it will invest Rs500 crore over the next three years to establish its third R&D centre in the nation in Neemrama in Rajasthan.
  • According to a statement from the corporation, the center would cover 24,000 square meters and employ more than 250 engineers who will work on the research and development of products specifically for India. Read more

Swiggy names Rohit Kapoor CEO of its food marketplace division

Published on: 10:07 am

  • Rohit Kapoor has been named the food marketplace's chief executive officer by Swiggy. In his position, Kapoor will oversee the food delivery industry and be in charge of creating policies that will promote growth and innovation.
  • "Under targeted leadership, our food market can develop further." It has been evolving over the last few years. According to Sriharsha Majety, CEO of Swiggy, Rohit's professional skills provide him a special perspective on the job. Read more

Goldiam International gets Rs7.20 crore dividend from subsidiary

Published on: 9:56 am

  • Goldiam International Ltd has informed to the exchanges that it has received an aggregate of Rs7.20 crore (net TDS) from Goldiam Jewellery Limited (GJL), a wholly-owned subsidiary on August 17, 2022 towards 151 Interim Dividend for FY23 at the rate of Rs.80/- (i.e.800%) per equity share of face value of Rs10/- each declared by Board of Directors of GJL on August 9, 2022.
  • At around 9:59 AM, Goldiam International Ltd was trading at Rs141.85 per share down by Rs0.3 or 0.21% from its previous closing of Rs142.15 per share on the BSE. Read more

Top 10 stocks for today

Published on: 9:53 am

  • The Singapore Exchange's Nifty futures traded 19 points, or 0.11%, down at 17,949 to indicate that the stock markets will begin the day on a down note. Foreign investors gained confidence due to falling commodity and oil prices, while western markets struggled prior to the release of the minutes from the US Federal Reserve Open Market Committee meeting.
  • Here are the top 10 stocks with major news in them that can influence the market:
  • Mahindra & Mahindra:
  • According to news reports, Mahindra & Mahindra has started discussions with several Indian state governments to establish the manufacturing infrastructure for its forthcoming line of electric sports utility vehicles. The manufacturer will consider incentives provided by various state governments before finalizing the strategy for the production of these EVs. Read more

BetterPlace, a company in workforce management, names Vikram Bhaskar as its chief business officer

Published on: 9:51 am

  • Vikram Bhaskar, a former executive of Monster, has been hired by BetterPlace, a full-stack digital platform for frontline staff management, to serve as its new chief business officer (CBO) – software business and benefits.
  • The HRMS software company will be led by Bhaskar, who has over 20 years of expertise in organizations like GE Money, HDFC Bank NSE-0.10%, and Quik (merchandise, insurance).
  • Bhaskar formerly held the positions of business director at Quikr and chief revenue officer at Monster. Read more

Vikram Solar gets SEBI green signal to float Rs1,500 crore IPO

Published on: 9:47 am

  • Vikram Solar has received approval from capital markets regulator SEBI to raise funds through an Initial Public Offering (IPO). Under which, the company anticipates to Offer For Sale (OFS) up to Rs50 lakh equity shares by selling shareholders, and a fresh issue of Rs1,500 crore.
  • Vikram Solar received the observation letter on August 10, 2022, in respect of IPO papers filed with the market regulator in March.
  • As per SEBI’s letter, its observations imply its approval to float the IPO. Read more

According to the Consumer Affairs Secretary, the government will create expert committees to investi

Published on: 9:47 am

  • On Wednesday, the government made the decision to create expert groups to investigate the adoption of standard chargers for portable, mobile electronics.
  • "India may initially consider switching to two different charger kinds, including C type. A final decision would be made after considering the opinions of all parties in the difficult issue of switching to common chargers "Consumer Affairs Secretary was quoted by PTI.
  • Additionally, he stated that the interested parties want to talk more about switching to standard chargers while acknowledging e-waste problems. Read more

Indo Amines stock zooms 16% on receiving Environment Clearance for expansion project

Published on: 9:45 am

  • Indo Amines Ltd stocks rally in the market during early morning trading on Thursday after receiving Environment Clearance for expansion unit.
  • As per the filing, it has received an Environment Clearance for Expansion of 'Synthetic Organic Chemical' for its Manufacturing Plants situated at Plot No. A-35/1, MIDC, Badlapur, Tal. Ambernath, Dist. Thane and Plot No. J-5, MIDC Avdhan Taluka, Dist. Dhule, Maharashtra. Read more

ONGC inks pact with ExxonMobil for deepwater exploration in India

Published on: 9:31 am

  • Oil and Natural Gas Corporation (ONGC) informed to the exchanges that it has signed a Heads of Agreement (HoA) with global petroleum giant ExxonMobil for Deepwater exploration in East and West coasts of India.
  • The agreement was signed in the Ministry of Petroleum & Natural Gas on August 17, 2022 by Rajesh Kumar Srivastava, Director (Exploration), ONGC  and Dr. Monte K Dobson, CEO & Lead Country Manager, ExxonMobil India in the presence of Pankaj Jain, Secretary, Ministry of Petroleum & Natural Gas.
  • The partnership areas focus on the Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region in the western offshore. There has been a scientific exchange of exploration data in the last few years, which has led to this partnership. Read More

Navkar Corporation board to sell Tumb ICD to Adani Logistics for Rs835 crore

Published on: 9:25 am

  • The meeting of Board of Directors of Navkar Corporation Limited held on Tuesday, August 16, 2022 has approved the transfer of its title, rights, interest, ownership and the operations of its Business Undertaking for a lumpsum consideration of approximately Rs835 crore to Adani Logistics Limited.
  • Navkar Corporation Limited is one of largest Container Freight Stations (CFSs) and Inland Container Depots (ICDs), Rail Terminals, Container Train Operator, Warehousing and other Logistics Solution providers. Read more

UpGrad, an edtech business, names Myleeta Williams CEO - International

Published on: 9:25 am

  • To drive expansion throughout the APAC, EMEA, and US areas, ed-tech firm upgrade has named Myleeta Aga Williams as its chief executive officer (CEO)-International.
  • Williams will oversee end-to-end international operations across geographies and develop product pipelines tailored to each region to deliver high-impact revenue and profitability. Williams has over 20 years of experience in global digital enterprises. Read More

Bank of Baroda collects Rs1,000 crore via bonds issue

Published on: 9:24 am

  • On Wednesday, the Bank of Baroda announced that it raised Rs1,000 crore through bonds. Bank has issued these bonds to fund infrastructure and affordable housing projects.
  • These bonds carry a seven-year maturity and are issued at a coupon rate of 7.39%, stated BOB in a regulatory filing.
  • Bonds were issued to investors on Wednesday, and the proceeds will be used to fund infrastructure and affordable housing projects, according to the statement. Read more

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