- Ahmedabad-based Concord Biotech Limited, backed by Rare Enterprises and regional jewelery brand Vaibhav Gems N' Jewelers have received SEBI approval to launch an initial public offering to raise funds.
- According to SEBI's update, both the companies filed DRHPs in the months of August and September and received observation letters from SEBI between November 28 and December 2.
- Concord Biotech Read more
- Indian equity markets ended the day in Red today. Nifty 50 ended, down by 58.30 points. Sensex ended, down by 208.24 points. Top Gainers today were Adani Enterprises, Hindustan Unilever, Nestle India.
- Top Losers today were BPCL, Hindalco, Tata Steel. Market movement today suggests that Market participants are not completely discounting the possibility of RBI maintaining its hawkish stand on inflation when it announces the next interest rate hike, today or tomorrow. Read more
- India's largest wine producer Sula Vineyards is all set to launch its initial public offer (IPO) between December 12 and December 14. If the company's IPO goes as planned, it will become the first listed pure wine producer.
- According to the DRHP, this issue is solely an offer for sale by the promoters and existing shareholders. The size of the offer for sale is up to 25,546,186 shares. The company has downsized its issue and is likely to raise around Rs 950-1,000 crore through the initial stake sale. However, the company was earlier looking at raising around Rs 1,200-1,400 crore through its IPO. Read more
- Ratnamani Metals & Tubes Ltd has informed to the exchanges that the Company has recently received new Orders aggregating to Rs262.52 crore.
- As per the regulatory filing, the details of the order are:
- Domestic Orders aggregating to Rs233.26 crore
- Export Orders aggregating to Rs29.26 crore Read more
- IRB Infrastructure Developersâ€™ stock gained as much as 5% in Tuesdayâ€™s trade, as the company reported a strong performance in toll revenue collection in November.
- The civil construction company and its InvIT subsidiary IRB Infrastructure Trust reported a 39% year-on-year increase in toll collection in November across all projects.
- The company reported toll collection at Rs365.95 crore in November 2022, up from Rs262.81 crore in November 2021. On a month-to-month basis, the collection increased by 6%. Read more
- Domestic benchmark indices trading in the red after a gap-down opening on Tuesday's trading session. Both the Sensex and Nifty benchmarks are marginally lower in the afternoon market session. Moreover, Indian markets may witness volatility ahead of RBI policy outcome tomorrow.
- On the sectoral front, except PSU Bank, all other sectoral indices are trading in the red territory. IT index underperformed by tumbling over 465 points follwed by auto, pharma and metal stocks plunging marginally.
- At around 2:00 PM, Sensex was trading at 62,550.12 lower by 284.48 points or 0.45%. Nifty 50 traded at 18,615.10 lower 85.95 points or 0.46% Read more
- Maruti Suzuki India Limited announced that it has recalled a total of 9,125 vehicles manufactured between November 2 to 28, 2022. Reportedly, Ciaz, Brezza, Ertiga, XL6, and Grand Vitara models are affected.
- It is suspected that a defect exists in one of the child parts of the shoulder height adjuster assembly of front row seat belts, which could lead to seat belt disassembly in a rare case, stated the company in an exchange filing.
- Considering the safety of customers and exercising extreme caution, the company has decided to recall the suspected vehicles for inspection and free replacement of the faulty part. Read more
- In FY23, India's mobile phone exports are expected to touch $9 billion.
- This will be a significant increase from $5.8 billion of mobile phone exports in the previous year.
- The massive disruption of mobile phone manufacturing in China caused by Covid lockdowns of Chinese government is one factor that is helping in increasing India's mobile phone exports. Read more
- PTC Industries Limited, a manufacturer of high-quality, high-precision metal components for a variety of critical and super-critical applications, has won a contract to develop critical components for DRDO-Combat GTRE's Aircraft Engine development programme.
- Given the Government of India's directives on 'Aatmanirbhar Bharat' and the current geopolitical situation, the Ministry of Defence's initiative to design, develop, and manufacture its own fighter aircraft platforms will increase the possibility of indigenously developed engines being used in these platforms.
- PTC is developing expertise in manufacturing critical components for Titanium Alloy Aero Engines/Aircraft using innovative Investment Casting - Hot Isostatic Pressing (IC - HIP) technology in collaboration with GTRE - DRDO. Read more
- The Board of Directors of Dhanlaxmi Bank Ltd at its meeting held on December 05, 2022, has considered and approved the raising of funds proposal.
- According to the regulatory filing, the Bank has approved the fund raising option by way of issuance of NonConvertible Debentures (NCDs) in the form of Basel III compliant Tier 2 Bonds aggregating to Rs300 crore in one or more tranches over a period of time, subject to approval of Regulators / Shareholders, as may be required.
- At around 1:11 PM, Dhanlaxmi Bank Ltd is currently trading at Rs18.60 per share down by Rs0.8 or 4.12% from its previous closing of Rs19.40 per share on the BSE. Read more
- Bharti Airtel, India's leading provider of digital communications solutions, and Meta Platforms, Inc. have announced a partnership to support the growth of India's digital ecosystem. Airtel and Meta will collaborate to invest in global connectivity infrastructure and new-age digital solutions based on CPaaS to meet the evolving needs of customers and enterprises in India.
- As India prepares to roll out 5G networks later this year, foundational connectivity infrastructure such as subsea cable systems will be critical in meeting the rising demand for high-speed data and digital services. Airtel will collaborate with Meta and STC to bring 2Africa Pearls to India as part of its ongoing effort to improve the nation's infrastructure.
- 2Africa is the world's longest subsea cable system, and it is expected to provide faster internet access to nearly 3 billion people worldwide. Read more
- Sanjay Kumar, the chief strategy and revenue officer of IndiGo, has left the low-cost carrier. A veteran of Indian aviation, Kumar has worked with IndiGo from its inception. The airline acknowledged his resignation and announced that Kumar's position will be filled by Vinay Malhotra, the new hire from VFS.
- Kumar joined IndiGo in 2007 and served as the company's chief commercial officer till 2018. After leaving to work as COO for AirAsia India, he came back to IndiGo in January 2020. He is credited with building the massive spider web-like network that IndiGo has amassed over the course of its more than 16-year existence. It currently dominates the home market. IndiGo flies more foreigners than any other Indian airline on a standalone basis. Read more
- JSW Renew Energy Two Limited, a step-down subsidiary of JSW Energy Limited has initiated phase-wise commissioning of the 450 MW ISTS-connected Wind Power Project at Tuticorin in Tamil Nadu, awarded under SECI tranche X, with the commissioning of first phase of 27 MW.
- This is the company's first greenfield wind power project, and it demonstrates the group's project execution capabilities. The project has a 25-year power purchase agreement with SECI.
- In addition to this project, the company is building 1.8 GW of greenfield renewable energy capacity in order to reach 10 GW capacity by FY25 and 20 GW capacity by FY30. Read more
- Following intra-day gains of up to 4% on the BSE on Tuesday, shares of public sector undertaking (PSU) banks were trading steadily. At 9:30 AM, the Nifty PSU Bank index was up 0.82 % at 4,185.90, setting a record high of 4,196. In contrast, the Nifty 50 index had decreased by 0.50 % to 18,607.
- On the National Stock Exchange, Bank of India, Bank of Baroda, Bank of Maharashtra, UCO Bank, Punjab & Sind Bank, Indian Overseas Bank, Union Bank of India, and Central Bank of India all saw gains of 1% to 4%. (NSE). Today saw 52-week highs for the Bank of India, Bank of Baroda, and Punjab & Sind Bank, respectively. Read More
- Dhunseri Tea & Industries Limited entered into a Memorandum of Understanding (MoU) on December 5, 2022, with Apeejay Limited for the acquisition of two estates located in Tinsukia District in the State of Assam.
- The company has acquired Budlabeta Tea Estate and Hapjan Tea Estate for a total consideration of Rs109 crore.
- Apeejay Tea Limited's Budlabeta Tea Estate and Hapjan Tea Estate are located in Tinsukia District in the state of Assam. The estates have a grant area of 1491 hectares and 1485 hectares respectively. Read more
- MIC Electronics Limited has announced the receipt of Letter of Acceptance from Delhi Division.
- As per the regulatory filing, the company has been awarded the tender for Provisions of Telecom Passenger Amenities at FOB-3 and PF-8 at HNZM Railway Station by the Delhi Division - Signaling and Telecommunication, office of the Divisional Railway Manager, Delhi - 110001 on December 05, 2022. Read more
- According to a recent report released Monday, the Unified Payments Interface (UPI), debit and credit cards, prepaid payment methods like mobile wallets, and prepaid cards recorded 23.06 billion transactions totaling Rs 38.3 lakh crore in the third quarter of this year.
- According to Worldline India's third-quarter "Digital Payments Report," the volume and value of UPI transactions have nearly doubled since last year, with volume growth of 8% and a value increase of over 7% in Q3. Read more
- In the early trade on Tuesday, gold and silver prices have gone up. 10 grams of 24 Carat yellow metal were selling for Rs 54,110, an increase of Rs 160. During this time, the cost of silver increased by Rs 1,300 per kilogram, reaching Rs 66,500 today. Ten grams of 22-carat gold is now trading at Rs 49,600 today after rising by Rs 150.
- Price of 10 grams of 22 and 24 gold:
- Mumbai, Kolkata, Hyderabad, Kerala, and Pune: 10 grams of 22 and 24-carat gold are selling at Rs 54,110 and Rs 49,600 Read more
- Gravita India Limited, a leading recycling company with a global manufacturing presence, announced that Gravita Togo SAU, a step-down subsidiary of the company located in Togo, West Africa, has kicked off commercial production of Aluminium CastAlloys from a new recycling plant with an annual capacity of around 4,000 MTPA in Phase I.
- The new capacity is expected to generate additional revenue of approximately Rs60 crore per year, with gross margins of approximately 26%.
- Furthermore, before establishing the plant, the company had been sourcing scrap from Togo for the previous three years and had established a strong scrap collection network. Read more
- Ahluwalia Contracts (India) Limited stock rallies 3% on Tuesday's trading session as the company secured an order for Construction of 5000 Seating Capacity Public Auditorium at Guwahati from Executive Engineer, PWD, Dispur, Guwahati (Assam) worth of Rs174.88 crore Approx.
- The order inflow during the FY 2022-23 stands at Rs3962.24 crore, till date, the company said.
- At around 11:05 AM, Ahluwalia Contracts (India) Ltd is currently trading at Rs452.05 per share up by Rs13.15 or 3% from its previous closing of Rs438.90 per share on the BSE. Read more
- Lupin Limited, a global pharmaceutical company, announced the launch of Rufinamide Tablets USP, 200 mg and 400 mg, as a generic equivalent to Eisai Inc.'s Banzel Tablets, 200 mg, and 400 mg.
- In the United States, Rufinamide Tablets (RLD Banzel) had an estimated annual sales of USD 138 million (IQVIA MAT October 2022).
- Rufinamide is an anticonvulsant medication that is used in conjunction with other medications and therapy to treat Lennox-Gastaut syndrome and other seizure disorders. Read more
- Shreehas Tambe, Deputy CEO of Biocon Biologics, has been appointed as the Managing Director and CEO, effective December 5, 2022, of Biocon Biologics Limited (BBL), a subsidiary of Biocon Limited.
- Tambe will guide BBL toward its goal of becoming a global biosimilar leader.
- Tambe succeeds Arun Chandavarkar, who will continue to serve on the Board of Biocon Biologics as a non-executive, non-independent director. Read more
- On Monday, a promoter of the TVS Motor Company sold 25,69,000 shares of the business for Rs 262 crore in an open market transaction. Srinivasan Trust sold 25,69,726 shares, or 0.54 percent of the firm, according to BSE bulk sale data.
- The shares were sold at an average price of Rs 1,020.03 per share Read more
- HealthKart, a consumer nutrition platform, raised $135 million in a Series H funding round led by Temasek on December 5. The company said Mumbai-based A91 Partners and Kae Capital also participated in the fundraising round.
- The company will use the funds to grow its in-house D2C (direct-to-consumer) business, increase offline distribution, expand international operations and make selected acquisitions. Read More
- On the Make in Odisha (MIO) Conclave, 2022, the UK-based SRAM & MRAM Group VC, Gurujee Kumaran Swamy announced that the group would invest Rs 2 lakh crore in Odisha to establish a semiconductor factory. Initially, the company decided to invest Rs 30,000 crore. Earlier, VC Swamy and the company's representative for Odisha, Debadutta Singh Deo, met with CM Naveen Patnaik and briefed him on the proposed project.
- The other big companies that made investment commitments/signed MoUs: Intel, Oracle, Global Foundries, Jupiter Solar, Deloitte, IBM, Happiest Minds, Adani Group, EY, and Aaron Capital. Read more
- Bangalore Metro Rail Corporation Limited (BMRCL) will no longer build the Bettahalasur station in northern Bengaluru. This is mainly because the real estate firm Embassy Group backed out of a memorandum of understanding (MoU) signed in 2020.
- The metro station was not at first included in the original plans, but it got introduced only after a request from the Embassy Group. So, as they move forward, the plans to construct the metro will be dropped, stated BMRCLâ€™s managing director Anjum Parvez. Read more
- Early on Tuesday, the rupee lost 24 paise to 82.09 against the US dollar. This happened due to selling pressure in domestic equities and rising crude prices abroad that influenced investor sentiment. At the interbank foreign exchange, the local unit started weakly versus the dollar at 81.94, then declined further to 82.09, losing 24 paise from its previous close.
- The rupee decreased in value versus the dollar by 52 paise during the previous session on Monday, reaching 81.85. Meanwhile, the dollar index, which measures the dollar's strength against a basket of six different currencies, decreased by 0.07% to 105.22. Read More
- According to news reports, Aditya Birla Fashion has moved ahead of Nykaa in the race to purchase TCNS Clothing Co, the owner of the publicly traded women's branded apparel retailer that owns names like W, Elleven, and Aurelia.
- Once everything is said and done, this may turn out to be the $60 billion conglomerate's largest acquisition of branded apparel.
- Promoters of the retailer, the Pasricha family of New Delhi, and PE investor TA Associates collectively hold 61.24% of the business. Read more
- According to BSE data, the 13-day open offer for an additional 26 % interest in NDTV by the Adani group was completed on Monday, with investors tendering 5.32 million shares or a third of the open offer size of 16.7 million shares.
- Adani Group is now the most significant stakeholder: The Adani group, which already owns 29.18% of NDTV, Read more
- In a cash-plus-stock deal, D2C Group-led Good Glamm Group informed that it has acquired a 51% stake in digital media company Tweak India.
- Founded by Twinkle Khanna in 2019, the digital media platform comprises urban, upwardly mobile women and is known for offering advice and investigating a spectrum of topics, from finance to pop culture.
- With this majority stake acquisition, Good Glamm Group, which runs beauty e-commerce platform MyGlamm and personal care brands like The Moms Co and Organic Harvest, will enhance its content-creator-commerce platform. Read more
- India is set to emerge as a major hub for iPhone manufacturing as US smartphone big Apple appears to diversify manufacturing items outdoors China.
- According to the media reports, Industry executives and analysts anticipate the share of regionally made iPhones to rise to over a fifth of whole output in worth within the subsequent three to 4 years, from the present 5% stage.
- As per the business executives and analysts, manufacturing in India for the Cupertino-based major is about to rise sharply as the corporateâ€™s three contract producers â€“ Foxconn, Pegatron and Wistron â€“ ramp up manufacturing and subsequently exports, pushed by the federal governmentâ€™s Rs41,000-crore manufacturing linked incentive (PLI) scheme. Read more
- Indian markets traded in the red during Tuesday's opening bell amid negative global cues ahead of US Federal Reserve meeting and RBI meeting. The domestic equities tracked overnight slump n US market and weakness in Asan indices as IT, Auto and Banking stocks weighed on Sensex and Nifty 50.
- Meanwhile, the broader markets outlook remains volatile as investors will have to brace for some choppy trading through the Federal Reserve's upcoming policy decision and the latest consumer price index (CPI) reading.
- At around 9:41 AM, Sensex was trading at 62,507.46 down by 327.14 points or 0.52%. Nifty 50 performed at 18,605.30 lower by 95.75 points or 0.51%. Read More
- The Nifty Metal and the S&P BSE Metal indexes rose more than 1% on the bourses on Monday in a generally quiet market. This happened as a consequence of the reopening of the Chinese economy, as the reopening brightened the prospects for global growth and commodity demand.
- The Nifty Metal index was up 1.04 %
- S&P BSE Metal index was up 1.9 %
- Nifty 50 and the S&P BSE Sensex were down 0.14 and 0.15 % Read more
- RBL Bank has announced the appointment of Ravi Pichan as its Chief Information Officer. Ravi will be responsible to drive the technology strategy at the Bank. He will also help build a technology innovation hub to foster a culture of continuous innovation across the Bank.
- In a career spanning over 28 years with experience in Banking, Financial Services & Insurance (BFSI) industry, Ravi has successfully managed complex portfolios of IT investments across organizations & geographies, driving technology strategy and delivering transformation programs aligned to business strategy.
- Ravi joins RBL Bank from HDFC Life, where he was the Chief Information & Technology Officer. He has also worked in leadership roles at organisations including Larsen & Toubro Infotech, Capgemini, Barclays, & Bank of America. Read more
- SEAMEC Ltd has informed to the exchanges regarding deployment status of vessel "SEAMEC GALLANT".
- As per the regulatory filing, the vessel "SEAMEC Gallant" has renewed fresh Commercial arrangement with Fastfreight Pte Ltd, Singapore for a period of 90-120 days.
- The expected Charter hire would be about USD 810,000 plus profit sharing, the company said. Read more
- Sinclairs Hotels Ltd has entered into a conditional sale agreement on December 05, 2022, for transfer of Company's one acre of land (approximately) situated in Action Area I B, New Town, Kolkata 700 156.
- The land will be sold for a lumpsum consideration of Rs 27,00,00,000 (Rupees Twenty Seven Crore only).
- Notably, there is no turnover, revenue, or income out of the said land and hence the amount and percentage to net worth cannot be computed, the company said. Read more
- Jindal Stainless has signed a contract with the countryâ€™s largest renewable energy company, ReNew Power, to develop a utility-scale captive renewable energy project for the supply of power to its facility in Jajpur, Odisha.
- The Project will generate 700 million units per year through a mix of solar and wind technologies. This innovative Wind-Solar hybrid solution, with a high-Capacity Utilization Factor, is expected to generate a significantly higher amount of energy per unit of the contracted capacity.
- With this, ReNew Power also brings its Round the Clock (RTC) solution to the B2B space, which it pioneered for Utilities earlier last year. Moreover, a partnership with the largest renewable player also brings in the requisite execution certainty for Jindal Stainless, which is of paramount importance for a project of this scale. Read more
- Infosys has announced a new proximity center in Sweden. With this investment, Infosys aims to enhance its localization strategy in the Nordics by bringing next-generation digital offerings to its clients in the region, as they navigate the next stage in their digital journeys.
- Over the past two decades, Infosys has been steadily growing its footprint across the Nordics. The new center represents another step to strengthening the strategic presence in Gothenburg, a major city on the west coast of Sweden and an emerging automotive, digital tech and green innovation hub in Europe.
- Axel Josefson, Chairman City Executive Board, Gothenburg said â€œWe are delighted that Infosys has chosen the city of Gothenburg for its new proximity center. Read More
- Adani Green Energy Ltd (AGEL), the renewables arm of the Adani Group, has commissioned its third wind-solar hybrid power plant at Jaisalmer in Rajasthan.
- The combined operational generation capacity of this newly commissioned hybrid power plant is 450 MW. The plant has Power Purchase Agreements (PPA) with SECI at Rs 2.67/kwh for 25 years.
- This new hybrid power plant, consisting of 420 MW solar and 105 MW wind plants, has been implemented with cutting edge technology. With this hybrid plant, Adani Green Energy now has the largest operational hybrid power generation capacity of 1,440 MW. Read more
- On Monday, the open market saw the sale of a 3.7% share in the garment manufacturer Go Fashion by the American venture capital firm Sequoia Capital for a price of Rs 228 crore.
- According to the information posted on the National Stock Exchange, the venture capital company sold 20,00,000 shares through its affiliate Sequoia Capital India Investments IV in a bulk transaction for Rs1,140.14 per share.
- The sole largest shareholder in Go Fashion, with a 13.88% interest as of September 30, is Sequoia Capital.
- The investor's significant sale put pressure on the stock. At Rs1,136.60, it finished 5% down. Sequoia sold the share at a 4.7% discount to the Rs1,196.80 Friday closing price. Read more
- In a case involving diverting the company's IPO proceeds to a promoter group firm, SEBI on Monday banned Austral Coke and Projects Ltd (formerly known as Greenearth Resources and Projects Ltd) and four other individuals from the securities market for six months.
- Additionally, a SEBI ruling instructs the company to take the necessary steps to return Rs29.42 crore of the IPO (initial public offering) profits within a year.
- The corporation has instructed the current directors to take the necessary actions to comply with this directive.
- In addition to Austral Coke, Ratan Lal Tamakhuwala, Rishi Raj Agarwal, S K Chowdhary, and Rajendra Kumar Khaitan are also blacklisted by Sebi. Read more
- The largest insurer in the nation, Life Insurance Corporation of India (LIC), has expanded its holding in HDFC Ltd. to over 5% as a result of buying shares on the open market.
- Mortgage lender HDFC Ltd. reported in a regulatory filing on Monday that LIC increased its shareholding in the firm to 5.003% by purchasing 1.2 lakh shares on the open market.
- The ownership climbed from 4.991% to 5.003%, an increase of 0.012% at an average price of Rs2,673.84 per unit, according to LIC in a separate filing. On December 2, 2022, the insurance made the acquisition, it continued. Additional shares were purchased by LIC for a total of around Rs57.2 crore. Read more
- Indian equity markets are likely to start the day in red today. RBI will announce its interest rate hike decision today. The amount of interest rate hike announced will impact the course of market movement later in the day. US markets closed yesterday in the red. Asian markets have today opened in the red.
- US markets saw sharp fall yesterday. Markets turned cautious ahead of the Federal Reserve meeting next week. Profit booking has become the call for the week. Dow Jones fell over 480 points. Nasdaq fell 220 points. Bond yields hit 3.57%. US dollar index saw some recovery to 105.09.
- Asian markets have opened in the red today, led by the Taiwan & South Korean markets. ASX index is also trading in the red. IT stocks are declining. Expectations of higher rates persist. . Chinese stocks could also see some profit booking even as partial reopening sees stocks do well. Read more
- Three merchant bankers revealed to ET on Monday that India's GIC Housing Finance intends to raise money by offering commercial notes with a two-month maturity.
- According to the bankers, the housing finance company would give a yield of 7.40% on this offering and has already received commitments totalling about Rs1 billion ($12.23 million).
- The notes will mature on February 10 and have an ICRA rating of A1+. Read more
- According to a release issued on Monday, the Common Service Centre (CSC) will collaborate with October Cinemas to open 500 movie theatres by the end of March 2023.
- According to a memorandum of understanding (MoU) between CSC and October Cinemas, the goal is to establish 1 lakh movie theatres with a maximum capacity of 200 patrons each in rural areas.
- "Around 1,500 movie theatres will be open across India by the end of 2023. These movie theatres, which can hold 100 to 200 people, will also serve as a focal point for numerous CSC events in rural areas, according to a CSC press statement. Read more
- On Monday, the Indian Competition Commission said that it has authorized Bharat Biotech International Ltd's planned share purchase agreement to acquire shares in Eastman Exports Global Clothing Pvt Ltd.
- The deal has been given the green channel route approval, which means that a transaction has been informed to the competition watchdog and poses no risk of having a significant negative impact on competition.
- The fair trade regulator announced its approval of the agreement in a release posted to the CCI website.
- The proposed merger entails Bharat Biotech International Ltd. (BBIL) purchasing shares of Eastman Exports Global Clothing (EEGC) through a share subscription agreement and share purchase agreement. Read more
- The brewer Anheuser-Busch InBev (AB InBev), which owns a brewery business in Mysuru, has indicated a desire to expand by spending an additional Rs500 crore.
- Chief Executive of AB InBev's Asia-Pacific region, Jan Craps, met with Chief Minister Basavaraj Bommai on Monday and expressed interest in increasing investments in the State, according to a statement from the CMO.
- It stated that AB InBev is a global American-Belgian beverage and brewing firm with headquarters in Leuven, Belgium. The corporation sought to expand its plan by investing a further Rs500 crore after establishing a brewery operation in Mysuru. Read more
- Through Vested Finance, a US investment platform that has provided the facility for the same, retail investors will now be able to invest in globally diversified ETFs and new-age technology companies.
- The US broker-dealer, which is registered with FINRA, has launched two more pre-built Vests in collaboration with Xumit Capital and Ethical Advisors, allowing merchants to invest in them.
- Through a variety of financial tools, including stocks, ETFs, and pre-built investment portfolios known as Vests, Vested Finance enables Indian investors to participate in the US stock market. Read more
- The Nifty futures contract on the Singapore Exchange fell 76.5 points, or 0.41%, to close at 18,733.5, indicating that the stock markets may begin Tuesday in red. The following ten stocks may show price movement in today's market. To check more hot stocks, click at: https://www.indiainfoline.com/markets/hot-stocks
- Tata Motors:
- In order to make its model line comply with more stringent environmental requirements that go into effect on April 1 of next year, the domestic auto giant is planning to raise passenger vehicle pricing starting next month.
- The largest insurer in the nation, Life Insurance Corporation of India, has raised its holding in HDFC to over 5%. Read more
- Shriram Finance Limited, a significant provider of commercial vehicle financing, has merged with two-wheeler and MSME financier Shriram City Union Finance (Shriram Finance).
- The company would be a diverse player, serving more than 6.7 million consumers throughout India, with an impressive net worth of Rs 40,900 crore and assets under management (AUM) of Rs 1,71,000 crore.
- The company's growth plan will be centered on promoting the economy of micro, small, and medium-sized enterprises (MSME) and the self-employed. Read more
- HealthKart, a company that sells nutritional supplements, has raised $135 million in a funding round that was co-led by Temasek, a Singaporean investor, and included local venture capital companies A91 Partners and Kae Capital.
- The company plans to pursue acquisitions, enhance offline distribution, expand operations internationally, and promote its brands using the money from the Series H round. Read more
- As the digital payments landscape continues to expand, fintech platform Razorpay made an industry-first move on Monday to enable retailers to accept credit card transactions via the unified payments interface (UPI).
- With the addition of RuPay credit cards to UPI, Razorpay merchants can begin accepting credit card payments via UPI with little change to their current setup.
- The move is made possible through a collaboration with Axis Bank, which shares Razorpay's focus on responding to merchants' ever-changing demands and providing better convenience. Read more
- Adani Green Energy Ltd. (AGEL) announced the commissioning of its third hybrid power plant in Rajasthan, with a capacity of 450 megawatts (MW).
- With this, AGEL claims to be the "world's largest wind-solar hybrid power developer," with 1,440 MW of operational capacity.
- "AGEL has completed the installation of its third wind-solar hybrid power plant in Jaisalmer. This recently installed hybrid power plant has a total operational generation capacity of 450 MW. AGEL stated in a statement that the plant has Power Purchase Agreements (PPA) with SECI for 25 years at Rs 2.67/kWh. Read more
- Amazon sees a "great opportunity" for its grocery business in India, despite closing its distribution network, food delivery service, and education technology units in the nation.
- According to Srikant Sree Ram, director of Amazon Fresh, "We intend to keep growing the grocery business in India." "It remains a top priority for us,"
- Despite Amazon instituting an annual review process that will result in employee layoffs amid the macroeconomic unpredictability of the world, the grocery service is optimistic. Read more
- Tata Motors plans to raise passenger vehicle prices beginning next month to comply with stricter emission standards that go into effect on April 1 of next year.
- Shailesh Chandra, managing director of Tata Motors' passenger vehicle and electric vehicle divisions, told PTI that the pricing adjustment would help lessen the impact of commodity costs, which have been high for the majority of the year. Read more