Latest News and Updates

• Cineline India Ltd has informed the opening of 2 screen multiplex at "Cinemagic Cinema" situated at Road No. 5, Agarsen Nagar, Near Industrial Area, Rani Bazar, Kishmideshar, Bikaner, Rajasthan, India.
• As per the regulatory filing, the cinema is equipped with 2K projectors that deliver high resolution, sharp and bright images. In addition, the Audi's are equipped with 7.1 Surround Sound and 3D technology.
• With this launch, MovieMax now is operational in 42 screens across 14 properties in 7 cities in India. Read more

Latest News and Updates

• Tata Motors Limited announced that it has entered into a collaboration with IndusInd Bank to offer an exclusive Electric Vehicle Dealer Financing solution to its authorized passenger EV dealers.
• As part of the collaboration, IndusInd Bank has agreed to provide additional inventory funding to authorized passenger EV dealers of Tata Motors, at attractive prices. The company highlighted that the additional funding would be on top of the ICE finance limit of the dealers.
• The repayment tenure, so far, has been fixed between 60 to 75 days.
• In order to cater to the high-demand phases, the Bank will also extend an additional limit twice a year. Read More

Latest News and Updates

• Britannia Industries Limited informed that it has entered into a Joint Venture Agreement (JVA) with Bel SA, France, and Britannia Dairy Private Limited (BDPL) on November 29, 2022, for the development, manufacturing, marketing, distribution, trading, and selling, etc., of cheese products. The JV will target the Indian markets along with some other countries.
• As per the terms of the JV, Britannia plans to sell and transfer 49% of its stake in its wholly-owned subsidiary, BDPL, to Bel SA. The transfer will be in compliance with the terms of the Share Purchase Agreement entered between Britannia and Bel on November 29, 2022.
• Upon completion of the agreement, Bel SA will become the legal and beneficial owner of 49% equity share capital of the BDPL. Britannia Industries shall continue to hold the remaining 51% stake in BDPL. Read more

Latest News and Updates

• Oyo has posted improvement in its operational performance in the September quarter. Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 56 crore in the quarter. This was a significant improvement over the Rs 7 crore that it posted in EBITDA in the previous quarter. 
• Net loss of the company in the quarter stood at Rs 333 crore. This was also an improvement. Net loss in the previous quarter was Rs 414 crore. Revenues during the first six months of the year increased y-o-y by 24% to Rs 2,905 crore. Average monthly revenue per Oyo Hotel increased y-o-y by 69% to Rs 3.78 lakh. Read more

Latest News and Updates

• Domestic benchmark indices trading in the green after the flat opening on Tuesday's market session. Both the Sensex and Nifty benchmarks had begun its fast rally with metal and FMCG stocks. Sensex and Nifty hit record highs yet again led by gains in FMCG and metal stocks led by positive Asian cues.
• On the sectoral front FMCG index outperforming by rising over 800 points with metal, IT surged 1.5% and 0.7% respectively.
• At around 2:00 PM, Sensex was trading at 62,865.89 higher by 361.09 points or 0.58%. Nifty 50 traded at 18,671.75 higher 109 points or 0.59%
• Top Bulls on Nifty are: HUL (+3.5%), JSW Steel (+2.2%), Hindalco (+1.8%) supported by Tata Steel (+1.72%) and Nestle India (+1.7%). Meanwhile, top losers on Nifty are: Bajaj Finserv (-1.2%), IndusInd Bank (-1.1%), Coal India (-0.72%), Power Grid (-0.7%) and BPCL (-0.69%). Read more

Latest News and Updates

• Tata Consultancy Services has launched the TCS Quantum Computing Lab on AWS to assist enterprises in exploring, developing, and testing business solutions and accelerating the adoption of quantum computing, which is regarded as one of the most promising technologies of the decade.
• While still in its early stages, quantum computing has the potential to aid in the resolution of problems that are currently too difficult for classical computers to solve in a timely manner, such as enhanced detection of surface anomalies or optimization problems.
• The new TCS Quantum Computing Lab on AWS will provide a virtual research and development environment based on Amazon Braket, AWS's fully managed quantum computing service. TCS intends to use the lab to create industry-leading solutions, domain-centric performance benchmarks, and hackathons. Read more

Latest News and Updates

• Cipla Limited and its wholly owned subsidiary Cipla USA Inc. on Tuesday has announced the launch of Leuprolide Acetate Injection Depot 22.5mg. The product was approved by the United States Food and Drug Administration (“US FDA”) based on a New Drug Application (NDA) submitted under the 505(b)(2) regulatory pathway.
• According to the filing, Leuprolide Acetate Injection Depot contains 22.5 mg of leuprolide acetate for 3- month administration given as a single dose injection.
• It is supplied as lyophilized microspheres in a single dose vial as a kit with a prefilled syringe containing 2mL 0.8% mannitol solution and an easy-to-use MIXJECT transfer device for a single dose injection. It is indicated for palliative treatment of advanced prostate cancer. Read more

Latest News and Updates

• According to some news reporters, hackers have asked for Rs 200 crore in cryptocurrency from AIIMS, Delhi.
• The hospital's server has remained down for the past 6 days. One probability is that this server failure is because of an unethical hack. Delhi Police, which is investigating the issue, has denied that any ransom has been asked for.
• Various services to patients are being offered completely manually at the hospital, while efforts are being made to restore the server. Read more

Latest News and Updates

• Titagarh Wagons Limited informed that the Board of Directors of the company has appointed Saurav Singhania as Joint Chief Financial Officer effective from November 28, 2022, and designated him as Group Financial Controller.
• Saurav Singhania, 38, is a member of the Institute of Chartered Accountants of India and has over 15 years of experience in various fields such as strategy, auditing, accounting, planning, finance, corporate & fund raising, and so on.
• He has been associated with the company for the past eight years as Group Finance Controller. Singhania is not related to any of the directors of the company. Read more

Latest News and Updates

• Domestic e-commerce company Flipkart is likely to facilitate a $700 million employee share buyback as part of a new funding round for digital payments platform PhonePe. According to reports from various media houses, PhonePe will have a different shareholding structure and Flipkart's valuation will increase from $37.6 billion to $33 billion.
• This is the company's fourth ESOP buyback and reports say a formal announcement will be made next month. It bought back $80 million worth of stock from employees in 2021 after raising $3.6 billion. Earlier, Flipkart did a $500 million ESOP buyback in 2018 ahead of its eventual acquisition by Walmart. This will lead to the major ESOP buyback of Walmart-owned Flipkart in the Indian startup ecosystem. Read more

Latest News and Updates

• Solar Industries India Limited has informed to the exchanges that ICRA Limited has reaffirmed the rating at [ICRA] A1+ for the Commercial Paper amounting to Rs100 crore.
• As per the rating rationale report, the rating [ICRA]A1+ indicates very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk, the rating agency said. Read more

Latest News and Updates

• Lupin Limited today announced the launch of Formoterol Fumarate Inhalation Solution, 20 mcg/2 mL per Unit-Dose Vial, as a generic equivalent to Mylan Specialty, L.P.'s Perforomist Inhalation Solution, 20 mcg/2 mL.
• In the United States, Formoterol Fumarate Inhalation Solution (RLD Perforomist) had an estimated annual sales of USD 268 million, as per the IQVIA MAT September 2022.
• Lupin is a Mumbai-based transnational pharmaceutical company in India that focuses on innovation. The Company develops and commercialises a diverse range of branded and generic formulations, biotechnology products, and APIs in over 100 markets worldwide, including the United States, India, Asia Pacific (APAC), South Africa, Latin America (LATAM), Europe, and the Middle East. Read more

Latest News and Updates

• The Board of Directors of Fusion Micro Finance Limited in its meeting held on Monday, i.e November 28, 2022 has approved the proposal to raise funds by issue of Non-Convertible Debentures, aggregating up to Rs145 crore, on private placement basis.
• On Tuesday, at around 12:18 PM, Fusion Micro Finance was trading at Rs380.85 per share higher by 1.42% as against previous closing of Rs375.50 per share on the BSE. Read more

Latest News and Updates

• The promoter entity of NDTV has transfered 99.5% of its stake to Vishwapradhan Commercial Private Ltd (VCPL). RRPR is the promoter entity of NDTV. Through RRPR, Pranoy Roy and Radhika Roy hold their stake in NDTV. Pranoy and Radhika are the founders of NDTV.
• About a decade ago, RRPR took a Rs 400 crore loan from VCPL. The loan clause stated that in case RRPR defaults on payment of the loan, VCPL will have the right to acquire up to 29.18% stake in NDTV. This 29.18% stake is equal to 99.5% stake of the promoter entity in NDTV. RRPR failed in paying back this loan amount. So it has to transfer this stake to VCPL as per the loan agreement. Read more

Latest News and Updates

• In early trade on Tuesday, the rupee strengthened 8 paise to 81.60 against the US dollar as foreign capital inflows and a strong trend in the domestic share market improved investor morale. Additionally, forex dealers claimed that a weak American dollar on the international market benefited the local currency. The local unit at the interbank foreign exchange started strongly against the dollar at 81.58 before slipping slightly to quote at 81.60, showing an increase of 8 paise from its previous finish.
• The rupee gained 3 paise to conclude the previous session on Monday at 81.68 against the dollar. The dollar index, which measures the dollar value relative to a basket of six different currencies, fell 0.38 % to 106.28. The benchmark for world oil, Brent crude futures, rose 1.39 percent to USD 84.35 a barrel. Read more

Latest News and Updates

• Foreign banks said they would discuss an alternative to the clearing mechanism as the European Securities and Markets Authority's decision to derecognise six Indian CCPs, including the Clearing Corp of India Ltd and Indian Clearing Corp, from April 30, 2023. This decision by European regulators, the European Securities and Markets Authority (ESMA) and the Bank of England (BoE) left only room for bilateral transactions between banks.
• European banks with Indian arms are BNP Paribas, Credit Agricole, Credit Suisse, Deutsche Bank and Société Générale. These banks represent offshore regulators in dealing with matters that may seriously affect business operations. Read more

Latest News and Updates

• According to people familiar with the matter, Sumitomo Mitsui Financial Group and one other global bank are among five potential investors who have sought information from the Centre about the sale of state equity in IDBI Bank via a formal query process that ended on November 10.
• According to sources, the other players who sought information through the query process included a non-bank finance company (NBFC) and global investment firms.
• To be sure, the people aware of the developments cautioned that there is no guarantee that Sumitomo Mitsui Financial Group or any of the other companies seeking information will bid for IDBI Bank. Read more

Latest News and Updates

• In intraday trading on Tuesday, VA Tech Wabag rose 6% to Rs 342 on the BSE after rising to 10% over the previous two trading sessions on a steady outlook.
• The share price of the water supply and management firm was getting closer to the Rs 350.40 52-week high it reached on December 3, 2021. Read more

Latest News and Updates

• The initial public offer (IPO) of Dharmaj Crop has been fully subscribed on Day 1 of the offer. The IPO was subscribed 1.79 times on Monday, November 28. The three day offer will conclude on Wednesday, November 30 and the shares of the company are expected to list on December 8 on BSE and NSE.
• As per BSE cumulative demand, Dharmaj Crop Guard is subscribed times by 11 AM on day 2 of the offer. The category for Retail Individual Investors (RIIs) received 3.86 times subscription, non-institutional investors portion was subscribed 2.75 times and Qualified Institutional Buyers (QIBs) 0.36 times. Read more

Latest News and Updates

• Kotak Mahindra Bank's division intends to raise up to USD 1 billion for investment in the data centre business.
• According to an official statement, Kotak Alternate Assets, a division of Kotak Investment Advisors (KIAL), appointed Subhamkar Das as the Chief Operating Officer for the 'Kotak Data Centre Funds platform' on Friday.
• Das, who joins the fund from Nxtra Data, will be a senior member of KIAL's alternate asset management team, helping to build the data centre practice at KIAL. Read more

Latest News and Updates

Latest News and Updates

Latest News and Updates

Latest News and Updates

• Tamilnad Mercantile Bank Limited (TMB), one of the premier scheduled commercial banks, launched the marketing of Life Insurance Products and General Insurance Products through a tie-up arrangement with Max Life Insurance Company Limited and Cholamandalam MS General Insurance Company Limited, respectively.
• The event was attended by dignitaries from the insurance companies and the bank. All of the corporations have set up engagement zones to attract customers to the event. Read More

Latest News and Updates

• Early on Tuesday, gold prices remained the same, but silver prices decreased by Rs 400 per kilogram. Silver is trading at Rs 61,400 per kg, while ten grams of 24-carat gold are selling for Rs 52,980. According to the website GoodReturns, ten grams of 22-carat gold are currently retailing for Rs 48,560.
• Prices of 22 & 24-carat gold:
• Mumbai, Kolkata, and Hyderabad: 10 gms of 24 and 22-carat gold are selling for Rs 52,980 and Rs 48,560
• Delhi: Gold sells for Rs 48,710 for 24 karats and Rs 53,140 for 22 karats.
• Chennai: 10 gms of 24- and 22-carat gold are presently selling for Rs 53,970 and Rs 49,470 Read more

Latest News and Updates

• Indian markets traded on a positive note and hit record high during Tuesday's opening bell ahead of the country's GDP numbers for Q2 that is scheduled for tomorrow. In the early deals, Sensex jumped even nearly 62,750, while Nifty 50 rose neared 18,650. Consumer Metals and IT stock led the rally while banking, FMCG, pharma, relaty stocks further contributed to the upside.
• Heavyweight stocks witnessed value buying that drove both benchmarks Sensex and Nifty 50.
• At around 9:40 AM, Sensex was trading at 62,694.96 higher by 190.16 points or 0.30%. The index was near the day's high of  62,722.34. Read more

Latest News and Updates

• According to a disclosure made by the exchange, the Securities and Exchange Board of India (SEBI) approved the appointment of Sundararaman Ramamurthy as managing director and chief executive officer of the BSE on Monday. According to the disclosure, this appointment is subject to shareholder approval.
• According to social media accounts, Ramamurthy previously served as senior vice president of the National Stock Exchange (NSE), after which he became a Chief Operating Officer at Bank of America, India.
• The top position at BSE has been vacant since July, when its previous managing director, Ashish Kumar Chauhan, resigned to become CEO of rival exchange NSE. Read more

Latest News and Updates

• Signature Global (India) Ltd focuses on the affordable and mid-range residential segments in the National Capital Region of Delhi ("Delhi NCR"). The company filed a Draft Red Herring Prospectus in July to raise Rs 1,000 crore from the market through an initial public offering. For the same, SEBI issued its approval letter on November 24 to go ahead with the proposed IPO, as per the latest update.
• According to DRHP, the IPO will include a fresh issue of shares worth Rs 750 crore and an offer for sale worth Rs 250 crore. Promoter Sarvpriya Securities and investor International Finance Corporation will sell shares worth Rs 125 crore each. Read More

Latest News and Updates

• Wipro Limited, a leading technology services and consulting firm, announced the launch of its new Amazon Web Services (AWS) Skills Guild at AWS re:Invent 2022.
• The AWS Skills Guild is a comprehensive enablement programme for large enterprises that focuses on developing cloud skills through the integrated delivery of AWS learning opportunities. Wipro Step Up will transform the way employees engage with clients on their AWS Cloud journeys by utilising the AWS Skills Guild framework.
• The AWS Skills Guild will provide technical experts across Wipro with the AWS Cloud competencies required to drive deeper engagement with clients, building on Wipro FullStride Cloud Services' cloud domain expertise. Read more

Latest News and Updates

• NBCC (India) Limited has been awarded the major work order worth Rs271.62 crore.
• As per the filing, the project is for "Construction of balance works /left out works of Amrapali corporate Hub on as is where is basis at Tower J, sector-2, IMT Manesar, District-Gurugram, Haryana, pertains to Amrapali group of companies on Design, Engineering, Procurement and construction (EPC) basis" worth Rs42.44 crore.
• The annother project is "Special Repair & up gradation works of Civil, Electrical, Mechanical & Plumbing along with all allied Works required due to lack of comprehensive maintenance of Amrapali Projects at Noida & Greater Noida" worth Rs229.18 crore. Read more

Latest News and Updates

• Filatex Fashions Limited has informed to the exchanges that it is planning for expansion of its production facility and in the process will make a capex of around Rs300 crore in next one and a half year.
• Some of the expansion plans are mentioned hereunder:
• Installation of another 500 machines to meet the growing demand for the Company’s existing products. The said machines will require about 400,000 sq feet of space for installation. The Company’s existing land will be enough to accommodate the extra space required for the new machines Read more

Latest News and Updates

• Sejal Glass Ventures LLP, a Limited Liability Partnership of which Sejal Glass Limited is a Partner, has formed a Wholly Owned Limited Liability Company namely “Sejal Glass & Glass Manufacturing Products LLC’, in the UAE.
• The incorporation of the LLC has been registered on November 15, 2022.
• The main objective of the LLC is to carry out business activities pertaining to manufacturing and processing of glass and glass products. Read more

Latest News and Updates

• Lupin Limited (Lupin) announced that MedQuimica Industria Farmacêutica (MedQuimica), its wholly-owned subsidiary in Brazil, has signed a definitive agreement to acquire all rights to 9 medicines from BL Industria tica Ltda., Bausch Health Companies Inc.’s subsidiary.
• MedQuimica will acquire the rights to nine products as part of the transaction, including Limbitrol, Melleril, and Dalmadorm for Central Nervous System conditions, Bacrocin, Glyquin, Solaquin, Oxipelle, Cuprimine for the treatment of Wilson's disease, and Efurix as topical oncological treatments. This move demonstrates the company's dedication to making healthcare solutions available to all patients. Read more

Latest News and Updates

• 3i Infotech Ltd has informed that one wholly-owned subsidiary of the Company has been incorporated in India on November 28, 2022. 
• This subsidiary is a private company limited by shares called “NuRe EdgeTech Private Limited” and is a direct wholly-owned subsidiary of the Company.
• Further, Industry to which the entity being acquired belongs Information Technology and Communication.
• The objective of the entity is to engage into products and services relating to 5G edge computing technology and telecom related products & solutions, the  company said. Read more

Latest News and Updates

• The Board of Directors of Five-Star Business Finance Limited has declared its unaudited financial results for the quarter and half year ended September 30, 2022.
• H1FY23 Results
• AUM at Rs5,732 crore (up 24% yoy)
• Disbursements for the quarter stood at Rs803 crore (up 127% qoq) and for the half-year at Rs1,371 crore (up by 100% yoy) Read more

Latest News and Updates

• HCLTech, a global technology company has announced that it has signed a multi-year contract with SR Technics, a leading maintenance, repair and overhaul (MRO) service provider in the civil aviation industry, to digitally transform SR Technics’ operations.
• Headquartered in Zurich, Switzerland SR Technics is working with an extensive network of partners and business development offices in Europe, Americas, Asia and the Middle East, offering comprehensive, fully customized MRO solutions for aircraft engines, airframe and components including technical support to over 500 customers worldwide. Read more

Latest News and Updates

• Arvind SmartSpaces Limited (ASL), one of India's leading real estate development companies, announced that it's 100% wholly owned subsidiary Arvind Homes Pvt. Ltd. has launched and sold the entire first phase of its residential plotting project, Arvind Greatlands, in Devanahalli, Bengaluru, which will be completed on November 26, 2022.
• The first phase of this project, which included 400 plots with a total saleable area of 0.57 million square feet and a booking value of more than Rs200 crore, was sold out in 10 hours.
• This project marked ASL's entry into the Bengaluru plotted development segment. HDFC Platform 1 originally acquired 50 acres of the project, in which HDFC invested Rs50 crore. Furthermore, ASL has purchased 18 acres adjacent to this project on an outright basis, with the potential to expand further. Read more

Latest News and Updates

• Here are some stocks that may show price movement today. To check more hot stocks, click at: https://www.indiainfoline.com/markets/hot-stocks.
• 1. Ami Organics
• Norges Bank has bought 10.92 lakh equity shares in Ami Organics for Rs 920 per share.
• 2. Inox Green Energy
• Dovetail India Fund has sold 18 lakh equity shares of Inox Green Energy. Read more

Latest News and Updates

• Indian equity markets may start the day in Red today.  Profit booking is likely to take place today. Foreign Investors were net buyers yesterday. They may again provide support to the markets today. Asian markets have opened in red today.
• US markets started the week on a weak note, yesterday. China protests on lockdown could see global growth take a further hit as resident protests against Covid lockdown see global responses. Dow Jones fell over 500 points. Nasdaq fell 176 points. Bond yields hit 3.69%. Oil prices saw mild rebound to close near US$80. US dollar index closed unchanged, near 106.5.
• Asian markets have opened in the red today. This follows the weakness of yesterday as China chaos saw Asian & global markets react on the downside. Japanese "Nikkei' is trading lower by over 200 points. Taiwan and ASX markets are also trading lower. Markets have turned cautious with sentiment seeing profit booking. Read more

Latest News and Updates

• The edtech company Harappa, which is a part of UpGrad, has started offering its services in the US market and intends to expand.
• Through its programs on learning, application, experience, and coaching, Harappa hopes to upskill 55,000 individuals. In comparison to the $5 billion market for industry-led learning in India, the US corporate learning market is estimated to be worth $150 billion. Read more

Latest News and Updates

• Amazon announced that it was closing its wholesale distribution operation in India amid a global effort to wind up certain verticals and reduce costs.
• The wholesale e-commerce website Amazon Distribution, which was formerly accessible in some areas of Bengaluru, Mysore, and Hubli, is being discontinued by the e-commerce giant.
• The business previously shut down its Academy online learning and food delivery platform in India. Read more

Latest News and Updates

• Ola Electric, an electric scooter manufacturer, is increasing its D2C (direct-to-consumer) footprint by launching 14 additional Ola Experience Centers in eleven locations across the country.
• Three such centers have been established in Bengaluru, two in Pune, and one in each of Ahmedabad, Bhopal, Dehradun, Delhi, Hyderabad, Kota, Nagpur, Ranchi, and Vadodara. Ola currently has more than 50 experience centers spread across the nation, and by the end of this year, that number will increase to 200. Read more

Latest News and Updates

• Shapoorji Pallonji Real Estate (SPRE) has obtained Rs450 crore from the Motilal Oswal Group to fund its two projects.
• Motilal Oswal Alternates, the Motilal Oswal Group's investment arm, has pledged to invest Rs450 crore in Shapoorji Pallonji Real Estate. Two initiatives were supported by the investment. Read more

Latest News and Updates

• On Monday, the first day, Dharmaj Crop Guard's IPO received 1.8 times its initial subscription.
• According to stock exchange data, the retail and high-net-worth person portions of the IPO have already been fully subscribed, while 35% of the institutional investor component has been taken up.
• Dharmaj, an agrochemical firm, hopes to raise Rs216 crore through its initial public offering (IPO). In addition, the issue includes a secondary share sale for Rs35 crore. Read more