Latest News and Updates

17th Nov, 2022

Markets end the day in red

Published on: 3:42 pm

  • It was a day in red for Indian equity markets, today. Nifty 50 ended, down by 65.75 points. Sensex ended, down by 230.12 points. Top Gainers today were Tata Consumer, Adani Enterprises and L&T.
  • Top Losers today were Titan, M&M and Tata Motors. 
  • Selling pressure was there today across all market cap categories. Realty stocks saw some buying demand. But stocks of other sectors saw mostly selling pressure.
  • Auto stocks and Consumer durable stocks saw the most selling pressure. In volume terms, IRFC, HCC, Yes Bank were among the most active stocks today. Read more

Bangalore Airport IPO could be valued at ~$3.7 Billion

Published on: 2:59 pm

  • As per the reports of various news publications, Fairfax India Holdings Limited is considering the initial public offer for Bangalore International Airport. It could value the asset of the airport at around $3.7 billion.
  • Fairfax Financial Holdings Ltd, the Indian arm of the Canadian investment group is working with an advisor on the potential listing. Kempegowda International Airport is located in Bengaluru and Fairfax India owns 54% of interest in Bangalore International Airport Limited. This build-up after Fairfax acquired its initial stake in 2017.Read More

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Timken India to set up new manufacturing facility at Bharuch, Gujarat; Stock hits 52-week high

Published on: 2:41 pm

  • Timken India Ltd stock hits 52-week high on Thursday after it has announced that new manufacturing facility will be set up at Bharuch, Gujarat to manufacture Spherical Roller Bearings ('SRB') and Cylindrical Roller Bearings ('CRB') and components thereof.
  • As per the regulatory filing, the Company already has manufacturing plant at Bharuch, Gujarat wherein primarily Tapered Roller Bearings ('TRB') and its components are manufactured. At the same premises wherein existing plant is situated, new facility will be set up to manufacture SRB and CRB and components thereof which will enhance manufacturing capacity of the Company.
  • The investment of Rs600 crore for the above project will be raised through internal accruals, the company said. Read more

Tata Motors bags supply order of 1,000 buses to Haryana Roadways

Published on: 1:55 pm

  • Tata Motors on Thursday has announced that it has bagged a prestigious order of 1000 buses from Haryana Roadways.
  • The Company will supply the 52-seater fully built BS6 diesel buses in a phased manner, as per the contract. Tata Motors buses offer superior passenger comfort, high fuel efficiency, reliability and low total cost of ownership. The e-bidding process was carried out through the Government tender process.
  • Commenting on the occasion, Navdeep Singh Virk, IPS, Principal Secretary to Government, Transport Department, Haryana said, “We are delighted to confirm the order of 1000 buses to Tata Motors. The modern and economical BS6 buses will provide benefits to all stakeholders alike, and offer unmatched comfort to the passengers. The induction of the new buses will help in making inter-state public transport even more efficient, allowing smooth commute across the state of Haryana.” Read more

Ind Ra assigns Biocon credit rating at 'IND AA+' with Stable outlook

Published on: 1:07 pm

  • India Ratings and Research (Ind-Ra) has assigned Biocon Ltd a Long-Term Issuer Rating of ‘IND AA+’. The Outlook is Stable.
  • Further, the proposed commercial paper ratings assigned at IND A1+.
  • As per the rationale report, Ind-Ra has taken a consolidated view of Biocon and its subsidiaries Syngene International Limited (65% shareholding; SYN) and Biocon Biologics Ltd (around 98% shareholding; BBL) to arrive at the ratings, given the strong operational and strategic linkages among them. Read more

Centre to accelerate PLI scheme to encourage investors

Published on: 12:22 pm

  • The Government is developing a new production-linked incentive (PLI) scheme to promote container manufacturing in the country.
  • Funding for the scheme might come in part from savings from PLI schemes that are already in place, as per the various media publications including "Business Standard report."
  • In order to fund the new PLI scheme, a portion of the savings totaling Rs11,484 crore (US$ 1.42 billion) will be redistributed, according to a decision made by a mighty group of secretaries guided by Cabinet Secretary Rajiv Gauba. Read More

Cisco announces restructuring, raises full-year outlook

Published on: 12:17 pm

  • Cisco Systems Inc raised its full-year revenue and earnings forecasts. The company also announced a $600 million severance pay and other restructuring payments. This affects about 5% of the workforce. It comes when companies like Amazon Inc and Facebooks parent company Meta Inc are cutting staff to deal with a possible economic downturn.
  • While addressing supply chain challenges, Cisco invested in cloud solutions and raised target prices to improve business and attract customers. Cisco is planning a restructuring in the second quarter of fiscal 2023. The company said it would record expenses over the next few quarters. This includes some costs associated with shrinking office space as more people work in hybrid home office models.
  • The shares of the company rose 5% in extended trading on November 16th. Read More

KEC International secures new orders of Rs1,294 crore; Stock slips 2%

Published on: 12:06 pm

  • KEC International Ltd., a global infrastructure EPC major, an RPG Group Company has received new orders of Rs1,294 crore across its various businesses:
  • Transmission & Distribution (T&D):
  • The business has secured a large order for supply of towers in Americas, secured by our Brazilian subsidiary, SAE Towers.
  • Railways:
  • The business has secured two orders for Ballastless Track works (BLT) from Chennai Metro and Mumbai Metro in the technologically enabled segment in India. Read more

SEBI suggests reconstructing of share buyback process

Published on: 10:44 am

  • The Securities and Exchange Board of India (SEBI), on Wednesday has proposed a consultation paper to revamp the share buyback process. 
  • The new framework suggests cutting the time period taken for completion of buybacks, enhance the amount companies can repurchase concerning their free reserves and reduce the cooling-off time period between two buybacks.
  • Currently, under the tenure route, companies can buyback only 25% of the paid-up capital and free reserves. Sebi has proposed an increase in it to 40%. This initiative will help the companies to return a greater amount to shareholders in the form of buyback. Further, the committee has presented the suggestion that they should be allowed to undertake two buybacks during a 12-month period as opposed to just one at present. Read more

Kaynes Technology IPO: Check IPO allotment status here

Published on: 10:39 am

  • Mysore-based Kaynes Technology’s initial public offer (IPO) worth Rs 857 crore was open for subscription from November 10-14. The IPO consists of a fresh issue of equity shares of Rs 530 crore and an offer for sale of Rs 327 crore by its promoters and existing shareholders. The net proceeds from the fresh issue will be used to repay borrowings, fund capital expenditure and expand manufacturing capacity.
  • The price range of Kaynes Technology IPO has been fixed at Rs 559-587 per share. The IPO has seen strong demand from investors and was subscribed 34.16 times. The qualified institutional investors’ portion of the IPO was subscribed 98.47 times. However, the non-institutional and retail sections were subscribed 21.21 times and 4.01 times respectively. Read more

Compuage Infocom posts 10% yoy growth in total income in Q2FY23

Published on: 10:36 am

  • Compuage Infocom Limited has announced its unaudited Standalone and Consolidated results for the quarter & half ended 30 th September 2022.
  • Q2FY23 Consolidated Financial Highlights
  • Total Income stood at Rs1,243 crore, up by 10% on yoy basis
  • EBITDA stood at Rs34.6 crore, up by 16% on yoy basis
  • PAT stood at Rs8.4 crore, up by 11% on yoy basis Read more

Government raises windfall profit tax on crude oil

Published on: 10:34 am

  • The windfall tax on domestically produced crude oil has been increased by the central government, but the rate on diesel exports has decreased. According to a government notification, the modification will take effect today, November 17, 2022.
  • According to a government announcement, the tax on crude oil produced by companies like the state-owned Oil and Natural Gas Corporation (ONGC) increased to Rs10,200 per ton on November 17 from Rs9,500 per ton.
  • The windfall tax, which is assessed as unique supplementary excise duty, is periodically updated to account for the super profits made by domestic crude oil companies. Read more

Thomas Cook inks agreement with KrisFlyer, the loyalty programme of Singapore Airlines

Published on: 10:26 am

  • Thomas Cook (India) Limited has signed a long-term agreement with KrisFlyer - Singapore Airlines (SIA) Group’s loyalty membership program.
  • This makes the Company the first Foreign Exchange partner on the KrisFlyer platform, giving Thomas Cook valuable first mover advantage. With the rapid revival of travel, the partnership intends to leverage India’s multiple and highly opportune segments of business: leisure, b-leisure and Corporate MICE.
  • KrisFlyer members will earn 15 KrisFlyer miles on every purchase of US$100 cash or equivalent value in any other currency; and 30 KrisFlyer miles on loading equivalent forex on card. Read More

In early trading, gold prices increase, silver's decrease

Published on: 9:59 am

  • According to the GoodReturns website, gold prices increased during early trade on Thursday, with ten grams of 22-carat gold trading at Rs 48,000, up Rs 200 from yesterday's closing price. To sell at Rs 62,000 per kg, silver prices decreased by Rs 700 during the trading session.
  • After increasing by Rs 210 from yesterday's closing price, ten grams of 24-karat gold were trading for Rs 52,360. Ten grams of 22-carat gold cost Rs 48,150 in Delhi, Rs 48,050 in Bengaluru, and Rs 49,700 in Chennai, respectively. Ten grams of 22-carat gold cost Rs 48,000 in Mumbai, matching the same amount paid in Kolkata and Hyderabad. Read more

Paytm drops 10% as almost 6% of its equity is traded in a block sale at NSE

Published on: 9:51 am

  • In intraday trade on Thursday, shares of One97 Communications, which runs the most significant payments platform in India, Paytm, fell 10% to Rs 541.40 on the National Stock Exchange (NSE). Through block trades, over 6% of the company's equity was traded on the exchange.
  • According to exchange data, up until 9:22 am, about 38 million shares, or 6% of Paytm's equity capital, had changed hands on the NSE. The international IT investor planned to execute block agreements on Thursday to issue shares in Rs. 555 and Rs. 601.45. The share sale's floor price is almost 8% less than Paytm's Wednesday closing price of Rs. 601.6. The one-year post-IPO lock-up period on Paytm shares has now ended, shortly before the share sale. Read more

Markets trade flat amid volatility; Nifty below 18,400 dragged by IT, metals

Published on: 9:39 am

  • Indian markets witnessed volatility on Thursday tracking mixed global cues. In domestic equities, investors bet cautiously as IT, Metal and Auto stocks logged selling pressure, while pharma and FMCG stocks traded positive.
  • At around 9:42 AM, Sensex was trading at 61,931.61 lower by 49.11 points or 0.08%. Nifty 50 traded at 18,395.25 down by 14.40 points or 0.08%.
  • Stocks like Larsen & Toubro, Power Grid, Adani Enterprises, Adani Ports and Cipla climbed between 0.6-1.2%. Bharti Airtel, ICICI Bank, Hindustan Unilever, RIL surged marginally. Read More

Amisha Vora acquires 96% stake in Prabhudas Lilladher Group

Published on: 9:32 am

  • Prabhudas Lilladher (PL) Group co-owner and joint managing director Amisha Vora has expanded her ownership stake from 24 to 96 %. Arun Sheth, Dhiren Sheth, and Dilip Bhatt are just a few of the partners whose stakes she has purchased.
  • The PL Group, which provides services like wealth management, retail broking, and investment banking, will now have Vora as its chairperson and managing director. Read more

KFintech receives SEBI nod to float Rs 2,400 crore IPO

Published on: 9:27 am

  • KFin Technologies Limited had filed preliminary papers with the Securities and Exchange Board of India (SEBI) to raise funds from the market in March 2022. The market regulator approved the company's plans to float a Rs 2,400 crore IPO.
  • According to the Draft Red-Herring Prospectus (DRHP) of the company, the issue will be entirely an offer for sale by promoter General Atlantic Singapore Fund Pte Ltd. The company will not receive any proceeds from the issue.
  • As per DRHP, the Book Running Lead Managers (BRLM) to the issue are ICICI Securities Ltd, Kotak Mahindra Capital, JP Morgon, IIFL Securities and Jeffries India. Bigshare Services is the registrar of the offer. Read more

On Wednesday, Rupee ended the day down 21 paise to 81.31 / $

Published on: 9:25 am

  • On Wednesday, the rupee fell as worries about a geopolitical conflict escalation increased in the wake of a missile strike in Poland and the ongoing confrontation between Russia and Ukraine.
  • The rupee also suffered from a bigger monthly trade imbalance at home and the first decline in exports in two years. Against 81.10 on Tuesday, the local currency ended the day at 81.31. The rupee has fallen 8.6% versus the US dollar thus far in 2022. Read more

Balrampur Chini Mills starts commercial production of industrial alcohol at Maizapur unit

Published on: 9:19 am

  • Balrampur Chini Mills Limited has informed to the exchanges regarding distillery capacity addition at Maizapur Unit.
  • According to the filing, the Company has on November 16, 2022 commenced commercial production of industrial alcohol in its new distillery at Maizapur Unit, with a capacity of 320 KLPD. With the said addition, the total distillation capacity of the Company now stands at 880 KLPD.
  • In addition to this, the company said that further 170 KLPD at Balrampur Unit is under process for implementation. Read more

43% MSMEs expect to end this fiscal year with pre-pandemic margins, says report

Published on: 9:19 am

  • According to a report, despite virtually all of them being able to equal fiscal 2020 revenue levels this fiscal, over half of the small firms won't be able to restore their margins to the pre-pandemic levels since they won't be able to fully pass on high commodity costs and the rupee's decline.
  • The research is based on 69 industries and 147 clusters, or two-thirds of the MSME sector, which reported total revenues of Rs 56 lakh crore, or 20–25 % of the GDP. Read more

Kennametal India unveils new facility in Bengaluru campus; Stock down 1.5%

Published on: 9:18 am

  • Kennametal India Limited (KIL), a subsidiary of Kennametal Inc. and an industrial technology leader, has announced the launch of its new Metal Cutting inserts manufacturing facility on its Bengaluru, India campus.
  • This state-of-the art facility, which was part of Kennametal Inc.’s global modernization program, will support growing demand for Kennametal and WIDIA brand inserts from customers across India and beyond.
  • “Modernization at its core is about bringing value to our customers, and that’s exactly what we are doing with our new inserts facility in Bengaluru,” said Chowbey. “Through expanded capacity, advanced equipment, and a highly skilled and talented workforce, we will bring improved quality, product performance, innovation and delivery to our customers, so they can build better every day.”
  • Customers around the world rely on Kennametal and WIDIA brand inserts for performance and value to help them build everything from automobiles and aircraft to medical devices and power generation technology. Read more

Affordable Robotic & Automation books orders worth Rs120 crore

Published on: 9:18 am

  • Affordable Robotic & Automation Ltd informed to the stock exchanges that it has already booked orders of Rs120 crore as on October-2022 end, to execute in this financial year i.e. before March-23.
  • This order book is comprising of both Automation and Car Parking, the company said. Read more

Nazara Tech-led Sportskeeda appoints Ajay Pratap Singh as CEO

Published on: 9:17 am

  • Nazara Technologies-led Sportskeeda, a global sports and gaming media platform, has announced the appointment of their new CEO, Ajay Pratap Singh.
  • Ajay Pratap Singh has joined Sportskeeda as Head of Marketing in 2019 and was promoted to COO in 2020. Under his leadership and direction as COO, Sportskeeda has seen strong growth in its KPIs. Users have grown 2.5 times whereas revenue has risen 5 times since his joining. The new role as a CEO will include growing the company and managing the direction of its expansion.
  • The brand ventured into covering newer sports, and formats and according to the Comscore numbers, it went on to become the number 1 sports media publisher in India in Jan 2022, and the 10th-highest in the US in March 2022. Serving over 70 million active users every month, it is one of the largest multi-sports destinations. Read more

Indo Count posts healthy Q2FY23 numbers; Stock trades lower

Published on: 9:16 am

  • Indo Count Industries Limited has announced its reviewed financial results for the second quarter and half year ended September 30, 2022.
  • Registered yoy volume growth of 7% in H1FY23 and 8% in Q2FY23
  • Total income up by 6% in H1FY23 and 11% in Q2FY23 on yoy basis
  • Healthy EBITDA margin of 16.6% in H1FY23 and 14.1% in Q2FY23
  • Launched Health & wellness licensed brand GAIAM in the USA
  • Domestic brands Boutique living and Layers growing at good pace
  • E-commerce business showing strong momentum
  • Reduced net debt to Rs762 crore (Sept-22) from Rs906 crore (Mar-22) Read more

From sale of 1.5% stake in Axis Bank, Government gets Rs 3,839 crore

Published on: 9:14 am

  • Through the sale of its 1.5% stake in Axis Bank, held through SUUTI, the government has made around Rs 3,839 crore. The Specified Undertaking of the Unit Trust of India, which the government created, sold a 1.5% interest in Axis Bank last week (SUUTI).
  • 830.63 rupees per equity share was the offer's floor price.  Read more

India's exports to UAE soar by 17.6% to $18 billion in April-October period

Published on: 9:08 am

  • According to figures from the commerce ministry, India's exports to the UAE, with which a free trade agreement went into effect on May 1, increased by 17.6% to almost USD 18 billion from April to October of this fiscal.
  • However, exports fell by 18% to around USD 2 billion in October. On the other hand, the data showed that imports from the UAE surged by 33% to USD 32.3 billion between April and October 2022–2023
  • The data shows that during the same time period, imports from China increased by 18% to USD 60.3 billion while exports from India to China decreased by 37.3% to USD 8.8 billion. Exports from India had negative growth in October to important markets like the US, UAE, China, Bangladesh, the UK, and Saudi Arabia. On the other hand, during the month, exports increased in the Netherlands, Singapore, and Brazil. Read more

Paytm shares tumble as SoftBank sells 29 million shares through block deal

Published on: 8:59 am

  • The main payment platform in India, Paytm, is operated by One97 Communications, and SoftBank intends to sell 29 million shares in that company. The international IT investor will trade shares via block trades on Thursday in the price range of Rs. 555 to Rs. 601.45.
  • The share sale's starting price is around 8% less than Paytm's most recent closing price of Rs. 601.6. The Paytm share sale occurs shortly after the expiration of the one-year post-IPO lock up period. Paytm's stock fell by about 4% on Wednesday.
  • Currently, SoftBank Vision Fund (SVF) owns over 113 million shares in Paytm, or 17.45% of the company. After the share sale, its ownership will drop to roughly 13.1%. At the low end, SVF will be able to raise Rs 1,610 crore, or about what it did when it sold shares in Paytm's first public offering. However, it offered shares for sale in the IPO at Rs 2,150 each. Shares of Paytm are currently 72% below their IPO price. Read more

Markets may see a day in red today

Published on: 8:55 am

  • Indian equity markets are likely to see a day in red today. Most Asian markets have opened in red today. US markets closed in red yesterday. Foreign Portfolio Investors have turned net sellers in Indian equity markets in the past two days.
  • US markets saw a day of profit booking. Nasdaq fell after the best run last week, since early 2022. Dow Jones fell 39 points. Nasdaq corrected by over 1.2%. Bond yields traded near 3-month lows @ 3.72%. US dollar index also weakened to 106.45. Oil prices fell to US$ 84.75 per barrel.
  • Asian markets have opened muted today.  Profit booking is being seen in most tech heavy markets like Taiwan & South Korea. These markets have been star outperformers lately. Even the Hang Seng ,which has seen almost 15% rally since last week, is seeing some cooling off as profit booking is being seen across the board. Read more

Five Star Business Finance IPO: Allotment out soon, here’s how to check

Published on: 8:54 am

  • Those who have subscribed are eagerly waiting for the allotment of Five Star Business Finance IPO. The issue was closed on November 11 and the allotment will be out anytime soon on November 17.
  • The Rs 1,960 crore IPO of the company was sold in the range of Rs 450-474 apiece. It received a muted response from investors. The overall issue was subscribed 0.70 times where QIB section was bought 1.77 times. The NII and RII sections were subscribed 0.61 times and 0.11 times respectively.
  • Investors who bid for the issue can check the allotment status on BSE website or on the website of Registrar, i.e., KFin Technologies Limited. One need application number and PAN card ID to check the application status. Read More

Orchid Pharma's Q2 revenue up by 36%

Published on: 8:54 am

  • Orchid Pharma released its Q2'22 results today. Orchid Pharma reported a 36% increase in overall revenue from operations, while EBIDTA increased by 104% for the quarter ending in September 2021.
  • These results were driven by rising sales and a laser-like control of expenses. Read more

RBI Gov asks Indian Banks to stay “ Vigilant” about the macroeconomic situation

Published on: 8:54 am

  • India's central bank governor urged the nation's lenders on Wednesday to keep an eye on the changing macroeconomic environment, particularly global spillovers, and take proactive mitigation action to reduce any impact on their balance sheets and to manage threats to financial stability.
  • Shaktikanta Das, governor of the Reserve Bank of India, met with the managing directors and chief executive officers of both state-run and private banks yesterday. M. K. Jain, the deputy governor of the RBI, and a few other top central bank officials were present at the meeting.
  • Das praised the crucial role performed by commercial banks in sustaining economic growth throughout the difficult periods following the pandemic breakout and the continued instability in the financial markets. Read More

KfW to lend 150 million Euros to SBI for solar projects financing

Published on: 8:52 am

  • The German development bank, KfW has agreed to lend 150 million euros to the State Bank of India, or Rs1,240 crore, to build solar projects.
  • The bank stated in a statement on Wednesday that the long-term loan, provided as part of the Indo-German solar collaboration, will facilitate new and future capacities in the solar industry and further contribute to the nation's goals stated during the COP26.
  • According to Ashwini Tewari, managing director of SBI, who talked to ET, "The successful completion of the phase-1 under the solar partnership—promotion of solar/PV between SBI and KfW—paves the way for the current phase-2 in our cooperation with this German lender." Read more

Hindustan Zinc declares 2nd interim dividend of Rs 15.5

Published on: 8:49 am

  • The mining company Hindustan Zinc, which is under the leadership of Anil Agarwal, today announced a second interim dividend of Rs15.5 per share, or 775%, with a face value of Rs 2 per unit for the current fiscal year. The dividend, according to the company's filing, will total Rs6,549.2 crore.
  • The interim dividend's record date, November 24, had already been established by the corporation. According to the filing, the second interim dividend will be paid within the legal deadlines. The ex-date for the dividend is November 23, therefore investors who want to purchase stock in order to receive the dividend should do so before that day. Read More

Bombay HC gives interim ruling in favour of Pidilite Industries

Published on: 8:47 am

  • The packaging and name of Riya Chemy's adhesive, "R-Seal," have been temporarily prohibited by the Bombay High Court after Pidilite Industries claimed that they are confusingly similar to their own glue, "M-Seal," and that this could lead to consumer confusion.
  • The court ruled that Riya Chemy, which is from Karnataka, must wait for additional directives.
  • Pidilite Industries, the owner of the brands Fevicol, Dr Fixit, and Fevikwik, filed a lawsuit in court, claiming that Riya Chemy's "M-Seal" product is identical to that company's product and has misleadingly similar packaging and labelling.
  • Advocate Hiren Kamod and Nishad Nadkarni of the law firm Khaitan & Co argued on behalf of Pidilite prior to the court's decision that the defendant's dishonesty in adopting the mark as well as its representation—including the underline from the end of the first alphabet to the last and the colour scheme—is evident. Read more

Global crude oil news: Prices fall as demand from China remains uncertain

Published on: 8:45 am

  • As anxieties about geopolitical tensions subsided and concerns about demand in China, the world's largest crude importer, increased, oil prices fell for the second day in early Asian trade on Thursday.
  • To reach $92.24 a barrel, Brent crude futures declined by 62 cents or 0.7%. West Texas Intermediate (WTI) oil futures in the United States decreased by 65 cents, or 0.8%, to $84.94 per barrel.
  • Following the commencement of Russian oil exports via the Druzhba pipeline to Hungary on Wednesday, Brent fell by 1.1% and WTI fell by 1.5%. Read More

ReNew Energy Global's Q2 loss falls to Rs 98 crore

Published on: 8:45 am

  • In the September quarter, ReNew Energy Global Plc's loss decreased from to Rs 98.6 crore, mostly due to greater revenues. According to a business statement, the company reported a net loss of Rs 661.4 crore during the same time last year.
  • The company's total income (or total revenue) during the second quarter of fiscal year 23 was Rs 2,240.9 crore, up 5.1% from the second quarter of fiscal year 22. The corporation's portfolio had 13.4 GWs as of September 30, 2022, an increase of 30.8% from the previous year. It reported that during the quarter under consideration, about one GW of Purchase Power Agreements (PPAs) was signed. Read more

Top 10 stocks for today – 17th November 2022

Published on: 8:30 am

  • The Singapore Exchange's Nifty futures traded 40.5 points, or 0.22%, lower at 18,439.5, indicating that the markets may have a bad start to the day on Thursday. The following 10 stocks may show price movement in today's market. To check more hot stocks, click at:
  • One97 Communications:
  • In a block transaction, Japanese giant SoftBank Group hopes to raise $200 million by selling shares of One97 Communications, the company that owns Paytm.
  • Page Industries:
  • The clothing producer announced that it will spend Rs 290 crore to build two plants in Telangana. A total of 7,000 local youth will be employed by the new units. Read more

IFSCA signs MoU with RBI in field of regulation, supervision of regulated entities

Published on: 8:24 am

  • The International Financial Services Centres Authority (IFSCA) and the Reserve Bank of India (RBI) have entered into a Memorandum of Understanding (MoU) for collaboration in the field of regulation and supervision of regulated entities in their respective jurisdictions.
  • According to the statement, the MoU facilitates technical cooperation and exchange of information.
  • The IFSCA, being a unified regulator responsible for development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre(s) (IFSC) established in India, is, inter-alia, entrusted with the responsibility of regulation and supervision of authorized banks and non-banking financial institutions operating in such IFSCs. Read more

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