Latest News and Updates

• Indian markets today saw a day heavily in red. Equity markets have clearly reacted negatively to the continued hawkish stand of US Federal Reserve on inflation. Nifty 50 ended, down by 245. 40 points. Sensex ended, down by 878.88 points. Top Gainers today were Britannia, Hero Motors, NTPC. Top Losers today were Tech Mahindra, Titan, Infosys. 
• Large-cap stocks, Mid-cap stocks, Small-cap stocks, all saw selling pressure today. Heavily selling pressure was seen in many IT stocks, media stocks, banking stocks, realty stocks, and consumer durable stocks. The continued hawkishness of Federal Reserve will aggravate the economic slowdown in US and around the globe. This is expected to hurt the prospects in the near term of IT companies. Read more

Latest News and Updates

• The initial public offer of Abans Holdings Limited, a financial arm of Abans group was subscribed 1.09 times by 3.30 PM on the last day of offer, December 15. The issue receive bids for 1,38,88,325 shares against 1.28 crore on the offer.
• The qualified institutional buyer subscribe the IPO by 4.10 times against the quota reserved. Non-institutional investors bought 1.48 times of the reserved portion whereas retail investors bought 0.39 times shares of the quota set aside for them. Read more

Latest News and Updates

• The initial public offer of Landmark Cars has seen tepid response from the investors. On day 3, the IPO was subscribed 3.03 times by 3.30 PM.
• The qualified institutional buyers subscribe the IPO by 8.71 times against the quota reserved. Non-institutional investors bought 1.29 times of the reserved portion whereas retail investors bought 0.54 times shares of the quota set aside for them.
• In Rs 552 crore IPO, the company sold its shares in the price range of Rs 481-506 per share, with a lot size of 29 equity shares. The IPO includes a fresh issue of Rs 150 crore and an offer for sale (OFS) of Rs 402 crore. Read more

Latest News and Updates

• As the dollar strengthened on Thursday, oil prices fell in Asian trading, and concerns about demand were also raised by the prospect of additional interest rate increases from major central banks.
• By 7:30 GMT, Brent crude futures had decreased by 64 cents, or 0.8%, to $82.06 per barrel Read more

Latest News and Updates

• Amal Limited has informed regarding approval for raising of funds by issue of equity Shares by way of a rights issue to the eligible equity shareholders of the Company.
• Accordingly, the proposal of raising funds by issue of equity shares of face value of Rs10 each by way of a rights issue for an aggregate amount less than Rs50 crore to the eligible equity shareholders of the Company.
• The board also approved constitution of a committee of the Board of Directors of the Company for the rights issue, namely Rights Issue Committee ("Committee") and authorised the Committee to do all such acts, deeds, things and matters, as it may in its absolute discretion deem necessary, proper and desirable for the purpose of and in connection with the rights issue, as per the filing. Read more

Latest News and Updates

• To become an official partner of the FIH Hockey Men's World Cup 2023 Bhubaneswar-Rourkela, Tata Steel Limited, and Hockey India signed a Memorandum of Understanding (MoU).
• The 15th edition of the famous FIH Men's World Cup, which rivals the Olympics as the best competition for men, Read more

Latest News and Updates

• Tata Elxsi has opened a Digital Engineering centre in Frankfurt, Germany. This Digital Engineering Hub will serve as a platform for Tata Elxsi's talent and expertise in providing world-leading digital Engineering solutions for the next-generation mobility, media and communications, and healthcare sectors.
• Tata Elxsi's Frankfurt office will collaborate closely with its OEMs, Tier 1 European technology companies, and universities to discover and develop new SW and HW design and engineering concepts that will drive business outcomes and add value to the company’s customers throughout Europe, said the company on Thursday. Read more

Latest News and Updates

• On Thursday, Piramal Enterprises Ltd ('PEL'),  announced the opening of its Bengaluru "Innovation Lab," where it hopes to have a team of over 300 professionals working in various tech and business intelligence positions by the end of the fiscal year 2022–23.
• Jairam Sridharan, MD of Piramal Capital & Housing Finance Ltd., Read more  

Latest News and Updates

• Kalpataru Power Transmission Limited (KPTL) and its international subsidiaries have received new orders totalling Rs 1,397 crore.
• The company has received orders in India and overseas markets in the T&D business.
• “These new orders, combined with those announced earlier in the year, have significantly increased our T&D order book and provide good visibility for future growth. We are confident that our T&D business will grow rapidly due to a favourable business outlook and order visibility in key markets,” commented Manish Mohnot, Managing Director & CEO, KPTL on the order win. Read more

Latest News and Updates

• KPI Green Energy Limited, one of India's leading solar panel manufacturing company, has informed to the stock exchanges regarding receiving a new order of 33 MWp solar power plant under CPP segment.
• According to the filing, the company has given a new order for the execution of Engineering, Procurement, Construction, and Commissioning (EPCC) of a solar power project of 33 MWp capacity under 'Captive Power Producer (CPP)' segment of the Company along with 25 years of Operation & Maintenance and Land Lease Agreement, through KPIG Energia Private Limited, which is a wholly owned subsidiary of the Company. Read more

Latest News and Updates

• Public sector undertaking (PSU) bank shares were soaring, with the market prices of two lenders, UCO Bank and Punjab & Sind Bank, rising by more than 145% in the previous month.
• During that time,the benchmark Nifty 50 increased by less than 1%, but the Nifty PSU Bank index increased by 23%. Read more

Latest News and Updates

• According to the most recent price notification sent out by fuel retailers, gasoline and diesel prices were stable on December 15 across metro areas.
• Cost of petrol and diesel in several metro cities in India:
• Delhi: Petrol and diesel cost Rs 96.72 and Rs 89.62 a liter
• Mumbai: Petrol and Diesel costs Rs 106.31 and Rs 94.27 a liter
• Chennai: Petrol and diesel are priced at Rs 102.63 and Rs 94.24  Read More

Latest News and Updates

• NTPC Limited informed that it has successfully commissioned the second part capacity of 67.73 MW out of the 230 MW Ettayapuram Solar PV Project in Tamil Nadu.
• Upon successful commissioning, the second part capacity of 67.73 MW out of 230 MW Solar PV Project is declared on Commercial Operation effective from December 15, 2022.
• The first part of the capacity of 162.27 MW has already been declared operational as of December 10, 2022. Read more

Latest News and Updates

• Domestic benchmark indices trading in the red after a gap-down opening on Thursday's's trading session. Both the Sensex and Nifty benchmarks are marginally lower in the afternoon market session. Moreover, Indian markets may witness volatility among sectors amid weak global cues.
• On the sectoral front, except oil & gas stocks, all other sectoral indices are trading in the red territory. IT index underperformed by tumbling over 500 points follwed by auto, pharma and metal stocks plunging marginally.
• At around 2:00 PM, Sensex was trading at 62,119.75 lower by 558.16 points or 0.89%. Nifty 50 traded at 18,524.30 lower 136 points or 0.73% Read more

Latest News and Updates

• On Thursday, shares of fertilizer firms soared up to 18% on the BSE in anticipation of additional fertilizer subsidies. The S&P BSE Sensex, in contrast, was down 0.76 % at 61,199 at 12:49 PM.
• Various types of fertilizer will be subject to a 23.5% export levy by Russia, with a $450/tonne "cut-off price," according to reports in the media. According to the local Russian press, the obligation will take effect on January 1, 2023.
• Following the news, these fertilizer company stocks rose: Read more

Latest News and Updates

• The US Federal Reserve's interest rate hike and hawkish posture hurt investor sentiments, and the rupee dropped 15 paise to 82.64 against the US dollar in early trade on Thursday. The local unit at the interbank foreign exchange opened significantly lower versus the dollar at 82.63, then fell further to 82.64, a loss of 15 paise from its previous closing.
• The rupee ended the previous session on Wednesday 11 paise higher at 82.49 against the US dollar. The dollar index, which measures the dollar's strength against a basket of six different currencies, increased by 0.08 % to 103.85. The benchmark for world oil, Brent crude futures, dropped 0.69 % to USD 82.13 a barrel. Read more

Latest News and Updates

• Dhunseri Tea & Industries Limited informed that the company entered into a Memorandum of Understanding on December 14, 2022, for the sale of 'Khagorijan Tea Estate' 'on as is where is basis', jointly to Messers, Sahdev Singh Kushwah, Sanwar Mal More and Nikhil Agarwalla.
• The final agreement for sale will be entered into by the vendor and the purchaser through the formation of a partnership firm or LLP on or before the execution of the sale agreement.
• The sale consideration has been agreed at Rs 15 crore, subject to adjustment for the value of Current Assets and Current liabilities as of the date of completion of the sale and due diligence, said the company in an exchange filing. Read more

Latest News and Updates

• China's factories are going to tremendous measures to keep the machines running—and the worldwide supply chain intact—as an avalanche of Covid cases approaches, including shutting up workers and stockpiling medications, mattresses, and disinfection.
• The second-largest economy in the world is quickly removing the barriers that, for nearly three years, mostly kept the virus at bay. A massive network of factories that produce roughly one-third of the world's manufacturing output will be put to the test by the ensuing outbreak of illnesses. These plants are currently acting in an unusual manner to prevent diseases.
• The availability of anything from vehicles and golf carts to kitchen appliances and, of course, iPhones around the world could be threatened by outbreaks that could paralyze manufacturing. Read more

Latest News and Updates

• Indian Railways has received nine National Energy Conservation Awards for 2022, with South Central Railways taking home the top two spots in the category for railroad stations.
• At a ceremony on Wednesday hosted by the Bureau of Energy Efficiency under the auspices of the Ministry of Power, President Droupadi Murmu gave these awards for the finest energy management methods.
• According to a statement from the Ministry on Thursday, the first prize for energy saving measures in railway stations went to Kacheguda station in Telangana, and the second place went to Guntakal railway station in Andhra Pradesh. Read more

Latest News and Updates

• Sky Gold Limited has informed to the exchanges regarding initiating Direct to Consumer in US market.
• According to the regulatory filing, the company is engaged in the business of manufacturing and sales of Gold Jewellery.
• Sky Gold has Manufacturing facilities in Mumbai, India for gold ornaments of a broad spectrum of designs and specifications and it now desires to introduce its Gold Jewellery Products by launching own brand in the USA retail market by itself and/or its Subsidiary in collaboration with Varanium Inc., USA in Gold Jewellery Products, the company commented. Read more

Latest News and Updates

•  The founder of FTX, Sam Bankman-Fried, was accused on Tuesday by US regulators with defrauding investors. On Wednesday, the crypto exchange's new CEO testified before legislators that the collapse was caused by bad management and inexperienced leaders.
• John Ray, who took over as CEO of FTX after Bankman-Fried resigned and the company declared bankruptcy on November 11, said that the collapse of the FTX group "appears to stem from absolute concentration of control in the hands of a small group of grossly inexperienced, non sophisticated individuals." Read more

Latest News and Updates

• Dev Information Technology Limited informed that the company has bagged an order worth Rs 2.54 crore for the Design, Development, and Maintenance of the Rajeevika Application for Rajasthan Grameen Ajeevika Vikas Parishad (RGAVP), Government of Rajasthan.
• Dev IT has received an order for the "Rajeevika" application, which will be used by Rajcom Info Services to manage all of its SHG (Self Help Groups) and related operations.
• The application will manage the facilitation of rural women's livelihood activities. The Rajeevika application will be created to provide G2G and G2C online services to state employees and citizens. Read more

Latest News and Updates

• Shriram Properties Limited, one of South India's leading real estate developers, has completed the acquisition of "Golden Ira," a plotted development project of the Golden Gates Group that was a stressed asset with lending entities affiliated with the IIFL Group.
• The transaction involves up to Rs 125 crore in capital commitments for the acquisition and development of the Project. Read more

Latest News and Updates

• RateGain Travel Technologies Limited (RateGain), a global provider of SaaS solutions for travel and hospitality, announced that Air Senegal, the national carrier of the Republic of Senegal, has selected RateGain’s AirGain product to accelerate its growth in a dynamic market by getting access to accurate and real time market insights every day.
• Air Senegal today is West Africa’s leading airline carrier, expanded its domestic and international route network after launching in 2018 and later expanded into the long-haul sector with flights to Europe and the US.
• The African aviation market is looking to adopt new technologies to compete better with global players as well as give the best deal to the customers. Read more

Latest News and Updates

• Google will aid 100 Indian businesses in scaling up, with the second edition of its Appscale Academy initiative, in cooperation with the Ministry of Electronics and Information Technology's (MeitY) Startup Hub.
• Google's growth and development initiative, Appscale Academy, teaches early- to mid-stage entrepreneurs how to create apps. The initiative, which was launched in 2022, assisted 100 startups with scalability last year. Applications are now being accepted by the company for the 2023 program. Read more

Latest News and Updates

• On Thursday and Friday, the central government will offload up to 5% of its stake in the Indian Railway Catering and Tourism Corporation (IRCTC) through an offer for sale (OFS) on the exchanges.
• The share sale has a floor price of Rs 680 per share, which is 7.4% lower than the company's closing price of Rs 734 on Wednesday.
• The stake sale will raise nearly Rs 2,720 crore, providing some relief to the government as it strives to meet its disinvestment target of Rs 65,000 crore for the current fiscal year ending March 2023. Read more

Latest News and Updates

• Landmark Cars, opened for subscription on December 13. The issue has received muted response from the investors, as was subscribed only  times by 11:30 AM in December 15.
• The issue receive bids for 34,34,992 equity shares out of 80,41,805 shares on offer, according to data from the BSE. The employee portion was subscribed 2.32 times. The retail investors' portion was subscribed 0.87 times. The non-institutional investors' portion was subscribed 0.84 times. The portion set aside for qualified institutional buyers was subscribed 0.09 times on the third day. Read more

Latest News and Updates

• For a cash payment of Rs31.1 crore, private sector lender HDFC Bank will buy 7.75% stake in fintech startup, Mintoak Innovations Private Limited.
• Depending on a number of factors, the agreement should be finalized by January 31, 2023. Read more

Latest News and Updates

• In intraday trade on Thursday, shares of Sapphire Foods India, a Yum Brands franchisee in the Indian subcontinent, rose 3% to Rs 1,407.40 on the BSE after WWD Ruby sold almost 3 million equity shares of the restaurant company via the open market.
• In a letter, WWD Ruby stated that by December 21, 2022, it intended to sell up to 31,77,127 equity shares, or 5% of Sapphire Foods' total equity, in one or more tranches. As of September 30, 2022, the foreign business owned 6.21 million shares, or 9.77% of Sapphire Foods, according to data on shareholding patterns. BSE data shows that at 09:15 and 09:37 a.m., about 181,835 and 131,332 shares were traded in block trades. Read more

Latest News and Updates

• Gulshan Polyols Limited participated in a tender floated by Oil Marketing Companies (OMCs) inviting various molasses and grain-based distilleries to supply Ethanol at their various locations across the country until October 31, 2023.
• Following the conclusion of the Second Round of Offerings, Gulshan Polyols was allocated 22209.2 Kilolitres of Ethanol from its existing 60KLPD Boregaon Plant with an order value of Rs137.18 crore to be delivered to the Oil Marketing Companies (OMCs).
• Furthermore, the Company has received an order for the supply of 9300 Kilolitres of Ethanol from the upcoming 500 KLPD Ethanol plant at Boregaon (supply is expected to begin in April 2023) to Nayara Energy Limited with an order value of Rs 54.40 crore. Read more

Latest News and Updates

• The initial public offer (IPO) of Abans Holdings has received cold response from the investors on the last day of the offer. The issue was subscribed by 0.49 times at 11 AM on December 15.
• As per BSE Data, the investors made bids for 62,99,920 equity shares compared to the 1,28,00,000 equity shares reserved for the subscription by 11:00 AM on December 15. The quota for retail bidders was subscribed 0.34 times, whereas the allocation for non-institutional investors was booked 0.23 times. The allocation for qualified institutional buyers was subscribed 2.19 times. Read more

Latest News and Updates

• Mahindra and Mahindra (M&M), a major automaker, would invest Rs10,000 crore to establish an EV manufacturing facility in Pune.
• By 2027, the business wants at least 30% of its sales to come from electric vehicles, so it is negotiating with governments to establish EV factories. Read more

Latest News and Updates

• Arjas Steel, previously Gerdau Steel, announced an investment of Rs 610 crore to boost its yearly production capacity to 5.5 lakh metric tons, an increase of more than 37.5% over its current capacity across its Andhra and Punjab facilities.
• The business runs two facilities: Tadipatri in Punjab's Mandi Gobindgarh and the Andhra Pradesh area of Anantapur. While the Punjab facility, which it purchased in November 2020 for roughly Rs 100 crore, produces 1 lakh tonne annually, the Andhra plant now has a capacity of 3 lakh tonne. Read more

Latest News and Updates

• After the Department of Investment and Public Asset Management (DIPAM) on Wednesday extended the deadline to submit Expressions of Interest (EoI) for the strategic disinvestment of the Bank to January 7, 2023, from December 16, 2022, shares of IDBI Bank rose 6% on the BSE in intraday trade on Thursday in an otherwise quiet market. Read more

Latest News and Updates

• Biocon Limited has announced the start of a clinical trial of Itolizumab in patients with Ulcerative Colitis (UC) in India, in collaboration with Equillium Inc.
• This is a two-treatment period, phase two, randomised, double-blind, parallel-group, placebo, and active-controlled (adalimumab) study to assess the safety and efficacy of Itolizumab for inducing remission in biologics-naive patients with moderate to severely active UC.
• "We are encouraged by the progress being made on our high-value, multi-indication molecule, Itolizumab, in partnership with Equillium," said Siddharth Mittal, Managing Director and CEO of Biocon Limited. Read More

Latest News and Updates

• In intraday trade on Thursday, Indian Railway Catering and Tourism Corporation (IRCTC) fell 5% to Rs 696.70 on the BSE after the government set a floor price of Rs 680 per share for the sale of its stake in the provider of travel-related services (OFS).
• Today is the opening day of the OFS for institutional investors; Friday is for ordinary investors. Read more

Latest News and Updates

• CRISIL Ratings has revised its rating outlook on the long-term bank facilities of Godawari Power and Ispat Limited (GPIL) to 'Positive' from 'Stable', while reaffirming the rating at 'CRISIL A+'; the short-term rating has been reaffirmed at 'CRISIL A1'.
• As per the rating rationale report, the positive outlook reflects expectation of continuation of healthy financial risk profile along with improvement in business risk profile over the medium term. 
• The ratings continue to reflect the healthy business risk profile of GPIL, driven by integrated operations, established market position in the domestic steel industry and improved financial risk profile. Read more

Latest News and Updates

• JB Chemicals & Pharmaceuticals (JB Pharma), one of India's fastest-growing pharmaceutical companies, has agreed to buy the Razel (Rousvastatin) franchise for India and Nepal from Glenmark Pharmaceuticals Ltd for Rs 314 crore.
• Subject to customary closing formalities, the transaction is expected to close within the next two weeks.
• JB Pharma is now a part of the 'Statin' segment, which is the largest group in cardiac therapy. Razel ranks among the top 10 brands in the Rousvastatin molecule segment in the country. Read more

Latest News and Updates

• N.R. Narayana Murthy, the founder of the IT giant Infosys, claimed that the goal of the business is to build an India that is distinct from the model of the 20th century.
• Speaking on the occasion of marking the completion of 40 years of Infosys, Murthy said: "When you build an organization, you are building an industry and also a country." We wanted to create unique opportunities for the middle class.
• "Climate change, inequality, cost, and technologies that only serve 10% of the population are all problems." "Ours employs a distinct experiment and model," he added. Read more

Latest News and Updates

Latest News and Updates

• India’s leading electronics manufacturing services ("EMS") provider Elin Electronics to flaut its Rs 475 crore IPO from December 20. The company has finalized the issue price band at Rs 234-247 per share.
• The issue will open till December 22 for subscription. Investors who want to bid for the IPO can make a bid for a minimum of 60 shares and then its multiples thereof. The anchor book will open on Monday, December 19.
• Company has reserved 50% of shares for QIB, whereas 15% of shares are reserved for non-institutional investors. The remaining 35% of shares are reserved for retail investors. Read more

Latest News and Updates

• Wipro Limited, global technology services and consulting firm, announced the launch of a new Middle East financial services advisory capability.
• Capco, a Wipro company, will provide strategic management and technology consulting services to Middle Eastern financial services firms to support their transformation, digitization, and business consolidation initiatives.
• Regional macroeconomic trends, such as diversification away from a petrodollar economy, are driving significant investment in financial services, emphasizing digital innovation, neo-banking, post-merger integration, and large-scale core transformations. Read more

Latest News and Updates

• Early Thursday trading saw a price increase for gold and silver, with ten kilos of 24-karat yellow metal trading at Rs 54,880, up Rs 550. On the other side, silver sells for Rs 71,000 per kg after the price increases by Rs 2,000.
• According to the GoodReturns website, ten grams of 22-carat gold were trading at Rs 50,300 today.
• Price of 10 grams of 22 and 24-carat gold:
• Mumbai, Kolkata, Hyderabad, Kerala, and Pune: The price of 10 grams of 24-carat and 22-carat gold were selling at Rs 54,880 and Rs 50,300 Read more

Latest News and Updates

• Poonawalla Fincorp (PFL) will sell its housing division, Poonawalla Housing Finance (PHFL), to Perseus SG, a unit of private equity firm TPG Global, for Rs 3,900 crore. Although, the transaction is pending for regulatory approval.
• On Wednesday, the PFL board accepted the agreement.
• One of the stated goals in the company's Vision 2025 statement was to unlock the value of the housing financing business. In keeping with that, PFL looked at partial dilution and price discovery as the process's initial steps.Read more  

Latest News and Updates

• Indian markets extended their losses on Thursday's early bell led by a broad-based selloff across sectoral indices. IT, metals and FMCG stocks were the worst hit. Sensex was below 62-500-mark and Nifty 50 erased 18,600-level.
• At around 9:42 AM, Sensex was trading at 62,433.06 lower by 244.85 points or 0.39%. Nifty 50 was performing at 18,587.45 below 72.85 points or 0.39%.
• In terms of sectoral indices, on NSE, the IT, Consumer Goods, Metal, FMCG index were under selling pressure has plunged between 0.7-0.1%. However, the banking, auto, PSU Banks and pharma stocks logged maginal buying. Read more

Latest News and Updates

• RR Kabel, electronic goods manufacturer plans to file DRHP with market regulator SEBI in May 2023 to float their initial public offering (IPO). The company is backed by the US-based private equity firm- TGP Capital.
• The company has hired Axis, JM Financial, Citi Bank and HSBC as merchant bankers to run the listing process. The wires, cables, and Fast Moving Electrical Goods (FMEG) manufacturer plans to go public between October to November of next year.
• The US private equity giant TGP Capital acquired the minority stake in RR Kabel for about Rs 650 crore, valuing the firm at around Rs 3,000-3,250 crore. The company has its presence in more than 90 countries. Hence, the proposed IPO likely to value company at Rs 14000-15000 crore. Read more

Latest News and Updates

• The Board of Directors of Ramkrishna Forgings Limited, a leading supplier of rolled, forged, and machined products, has approved an investment to acquire up to 51% voting rights in TSUYO Manufacturing Private Limited, a Make-In-India start-up focused on powertrain solutions for electric vehicles.
• TSUYO currently manufactures electric vehicle powertrain solutions. This proposed investment will enable TSUYO to leverage both organisations' technological expertise and manufacturing capabilities to expand its product portfolio and expand its manufacturing facilities for motors, controllers, E-axles, and differentials.
• The company intends to invest around Rs 100 crore over the next 5 years, with a revenue of around Rs 500 crore expected by the end of the fifth year. Read more

Latest News and Updates

• Dilip Buildcon Ltd through RBL-DBL JV has executed a contract agreement with the Gujarat Metro Rail Corporation (GMRC) Limited on December 13, 2022.
• In a regulatory filing, the company informed that the order is for construction of 10.559 Km Elevated Viaduct and 11 Nos. Stations (Excl. E&M, Architectural Finishing and Roofing) from Bheshan Dead End [Ch. -949.63m] to Majura Gate Station (Ch. 9090m) including Viaduct Ramp to Depot Entry Near Bheshan for Surat Metro Rail Project Phase - 1, Corridor-2 (Package 1) [Pkg-CS-5)."
• The project cost is Rs1061.00 crore and the completion period is 26 months. Read more

Latest News and Updates

• NTPC has decided to issue unsecured non-convertible debentures of Rs500 crore on December 16, 2022, through private placement at a coupon of 7.44% p.a. with a door to door maturity of 10 years 3 months 30 days on April 15, 2033.
• The proceeds will be utilized for, funding of capital expenditure, refinancing of existing loans and other general corporate purposes and the debentures are proposed to be listed on BSE.
• "Debenture Trust Deed will be duly executed as per the requirements of and within the period of time prescribed under the Companies Act and rules specified therein", the company said. Read more

Latest News and Updates

• On Friday, the state-owned power company NTPC will issue non-convertible debentures through a private placement to raise Rs 500 crore.
• BSE stated: "NTPC has decided to offer unsecured non-convertible debentures of Rs 500 crore on December 16, 2022, through a private placement at a coupon of 7.44 % per annum with a door-to-door maturity of 10 years 3 months 30 days on April 15, 2033. Read more

Latest News and Updates

• Indian Metals & Ferro Alloys Ltd has informed that its subsidiary company Utkal Coal Ltd has received the compensation of Rs20.69 crore.
• According to the filing, the compensation has been received towards reimbursement of statutory expenses from Ministry of coal on Wednesday for its Utkal 'C' coal block, consequent upon the issuance of its vesting order to the new allottee, the company informed. Read more

Latest News and Updates

• H.G. Infra Engineering Limited has been declared as L1 bidder by National Highways Authority of India (NHAI) for Hybrid Annuity Mode (HAM) Project.
• As per the filing, the project is for "construction of 6-Lane Greenfield Karnal Ring Rd starting from NH44 near Vill Shamgarh Design km 0.000 land terminating at Karnal Munak Road (MDR115) Vill Samalakha (Design km 34.500) under BMP in Haryana on HAM."
• Further, the NHAI estimated project cost is Rs743.74 crore while HG Infra bid project cost is Rs997.11 crore. The construction period is 730 days, the company stated. Read more

Latest News and Updates

• Jubilant Pharmova Limited announced that inspection of the Active Pharmaceutical Ingredients (API) manufacturing facility at Nanjangud on December 13, 2022 by the United States Food and Drug Administration (USFDA) has concluded.
• Accordingly, the USFDA has issued eight observations pursuant to the completion of the inspection. The company will submit an action plan on the observations and will engage with USFDA for next steps. Read more

Latest News and Updates

• Hinduja Global Solutions (HGS) has announced the introduction of HGS Axle, a custom-built human-centric automated dispatch assistant that helps Emergency Roadside Service (ERS) teams by triaging and capturing information while alleviating stress for stranded drivers.
• Developed to create an easy-to-navigate, 24/7/365 self-service emergency roadside assistance experience, HGS Axle reduces the amount of time and effort a driver must take to solve frustrating vehicle breakdown situations.
• When a stranded driver contacts an ERS company via a phone call, SMS, or mobile messaging, HGS Axle’s intelligent platform finds the nearest tow truck, dealership, and/or mechanic, creating a digital dispatch which automatically saves customers much needed time and effort in a stressful situation. Read more

Latest News and Updates

• Tamilnad Mercantile Bank Limited (TMB), one of the premier scheduled commercial banks, executed the agreement for marketing the General Insurance Products through the tie-up arrangement with Kotak Mahindra General Insurance Company Limited.
• The event was attended by dignitaries from the Bank and Kotak Mahindra General Insurance Company Limited.
• The Insurance Company has expressed its delight at entering into a glorious tie-up agreement with a bank that has a century-long customer relationship.Read more

Latest News and Updates

• US Federal Reserve ,yesterday , raised interest rate by another 50 basis points or 0.5%. The latest interest rate hike is less than .75% hikes that were announced in the past four instances of interest rate hike this year. After this increase, the benchmark federal funds rate in US now stands at between 4.25% - 4.5%.  This is the highest level of federal funds rate in more than one decade. Federal Funds Rate is the rate that banks charge for overnight lending to other banks. 
• US Federal Reserve Chairman said that in  the upcoming meeting of Federal Reserve on 1st February, it may go for a lower interest rate hike of 25 basis points or 0.25%. Federal Reserve also said that federal funds rate is expected to be increased to 5% - 5.5% by the end of 2023. This means that it is planning to raise interest rate by another 1% point at least, over the next 12 months.
• In spite of four interest rate hikes, besides the most latest one, US Federal Reserve has achieved very little success, if any, in controlling inflation. Consumer price inflation in November slowed down marginally to 7.1% in November, from 7.7% rate in October. This is still significantly higher than Federal Reserve's target of 2%. Read more

Latest News and Updates

• Early on Thursday in Asian trading, oil prices remained broadly constant as investors balanced the prospect of future interest rate increases from central banks around the world against optimism about the outlook for Chinese demand.
• Brent crude futures were up 1 cent, trading at $82.71 a barrel, while U.S. crude futures were down 4 cents, trading at $77.24.
• The International Energy Agency's predictions that Chinese oil demand will increase next year after declining by 400,000 bpd in 2022 helped to support the market. The forecast for the increase in global oil demand for 2023 was increased by the agency by 1.7 million bpd. Read more

Latest News and Updates

• On Wednesday, Poonawalla Fincorp said that it has reached an agreement with private equity company TPG Global to sell its housing business Poonawalla Housing Finance for Rs3,900 crore.
• One of the goals of the company's Vision 2025 plan was to unlock value in the housing financing business.
• The company got an overwhelming number of proposals, some of which called for a full stake takeover. Read more

Latest News and Updates

• Crude Oil Tipswala (COT) and three other people were fined Rs3 lakh by SEBI on Wednesday for offering investment advisory services without the market regulator's permission. Additionally, COT and the three people were prohibited from using the securities markets for a period of six months.
• The decision was made after SEBI gave COT, Jitendra Kumar Ganeshlal Bata, Goutam Sarvar, and Mukeshbhai Ramanbhai Muniya a show cause notice in June for providing investment advising services without first registering with Sebi and therefore violating IA (Investment Advisers) regulations.
• Jitendra Kumar COT As a group, the "noticees" are Mukeshbhai Ramanbhai Muniya, Goutam Sarvar, and Ganeshlal Bata. Read more

Latest News and Updates

• Indian equity markets may see a day in Red today. US Federal Reserve raised interest rate by 50 basis points or 0.5% yesterday. It has said that it will have to do more interest rate hikes to bring inflation down. US markets reacted negatively to this assertion that battle against inflation will continue through more increases in interest rate.
• US stock markets saw a fall yesterday.  Federal Reserve raised rates by 50 basis points, much in line with expectations. However, Federal Reserve Chairman said that he expects another 50-basis point hike in next meeting, with inflation trajectory to be the guiding force. Yields fell to 3.49%. US dollar index hit fresh new low of 103.65, the lowest in over 4 months.
• Asian markets have opened mildly lower. Fall in bond yields and US dollar are acting as favorable factors today. Japanese 'Nikkei' is trading lower by 20 points in early trade. New Zealand index is in the Green. Chinese stocks will see action as fall in US dollar bodes well for commodities.Read more  

Latest News and Updates

• State Bank of India, the largest lender in the nation, will start revising its lending rates today. A widget on the bank's website indicates that the new rates will take effect on December 15, 2022.
• SBI decided to raise its marginal cost of funds-based lending rate (MCLR) by 25 basis points, seemingly as a result of the Reserve Bank of India's ongoing rate hikes.
• As of right now, this hike pushes the total amount to 225 basis points - including the 40-bps increase in May and the 50 bps hikes in June, August, and September - taking the benchmark rate up by 2.25% since May 2022. The RBI raised the repo rate by 35 basis points to 6.25% in its fifth consecutive rate hike earlier this year. Read more

Latest News and Updates

• The State Bank of India (SBI) said on Wednesday that its board has authorized a plan to raise Rs10,000 crore through Tier I bonds.
• The government of India must approve the fundraising through Additional Tier 1 (AT1) capital up to a value of Rs10,000 crore, the bank stated in a regulatory filing.
• According to the statement, the Central Board has given its clearance for capital raising through the issuing of Basel III-compliant debt instruments in INR and/or any other convertible currency up until FY24.
• The fund would support the bank's loan book expansion. Read More

Latest News and Updates

• In Madhya Pradesh, Reliance Jio launched its True 5G services at the Shri Mahakaal Mahalok and Mahakaleshwar Jyotirlinga shrines.
• Shivraj Singh Chouhan, the chief minister of Madhya Pradesh, was present for the launch. Jio used its Jio Community Clinic medical kit and its AR-VR technology, Jio Glass, to highlight the advantages of 5G in the field of healthcare.
• "The launch is a key milestone for MP and its people, who will greatly benefit from Jio's True 5G services," added Chouhan. I'm glad to announce that Indore will also launch the Jio True 5G network in less than 30 days, or in January 2023. Additionally, 5G will make it possible for individuals and the government to maintain a real-time connection and will enhance the execution and effectiveness of government programmes for last-mile users. Read more

Latest News and Updates

• According to news reports, billionaire Anil Agarwal is having difficulty securing funding for a planned semiconductor factory in India that would require an expenditure of up to Rs1.54 lakh crore ($18.6 billion).
• The report claimed that Agarwal's agents met with significant financiers from the Middle East, Singapore, and the US over the previous three months to secure funding commitments for the manufacturing business. Without offering any information, the report claimed that all the funds passed up the chance, leaving them with basically no backers for the project.
• The businessman had previously revealed in September that his Volcan firm has partnered with Hon Hai Precision Industry Co. to establish a chip manufacturing facility in the Gujarat state. Hon Hai Precision Industry assembles most iPhones sold worldwide The partners announced the idea while counting on increasing semiconductor demand despite having little expertise managing major chip factories. Read more

Latest News and Updates

• Gagandeep Singh Bedi has resigned as managing director, according to a statement released by AstraZeneca Pharma India on Wednesday.
• The pharmaceutical company announced that Sanjeev Panchal has been appointed as managing director for a three-year term beginning January 1, 2023. Read more

Latest News and Updates

• The majority of its retail fixed deposit rates were increased by 40–75 basis points (bps) on Wednesday by India's largest private lender, HDFC Bank Ltd. This move makes it the newest major bank to take similar action to encourage sluggish deposit growth.
• As a result of depositors choosing to invest their money in mutual funds and shares in order to earn higher returns in the face of high inflation, growth in bank deposits has substantially lagged loan growth, raising concerns for the central bank.
• In the meantime, lenders are engaged in a "deposit rate war" as a result of decreasing liquidity and increasing credit demand. Read more

Latest News and Updates

• The Singapore Exchange's Nifty futures is trading 37.5 points, or 0.36%, lower at 18,683, indicating that the stock markets may begin the day on a negative note. 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:
• The domestic auto giant has signed a deal with Everest Fleet Pvt Ltd to provide 5,000 XPRES-T EVs.
• Wipro:
• Capco, a new financial services advising firm, has been launched in the Middle East, according to a Wipro announcement. Read More