Rediff Moneywiz - Latest Share Market News Updates

05:20 PM

JSW Infra to Re-evaluate Tajpur Port Bid: Official

Kolkata, Jun 30 (PTI) Indicating that the company is still interested in the mega Tajpur deep sea port in West Bengal, JSW Infrastructure Ltd said that it remains open to re-evaluate its strategy for the project "if the project comes for re-bidding", a senior official said. JSW Group had failed...

05:18 PM

India-South Africa T20 World Cup Final: Record Viewership

New Delhi, Jun 30 (PTI) The T20 World Cup final match which ended India's 13-year wait to lift an ICC trophy witnessed a peak viewership of 5.3 crore on the OTT streaming platform but fell short of the record audience posted in the last year's ODI final match in November. The India-South Africa...

04:45 PM

GST: Simplified Compliance, Challenges Remain

New Delhi, Jun 30 (PTI) Introduced seven years ago, the Goods and Services Tax (GST) has simplified compliance, improved tax buoyancy and increased states' revenues, but fake invoices and fraudulent registration remain a big challenge for policymakers trying to curb tax evasion. Rolled out on...

04:24 PM

Kerala Demands State-Specific Funds for Development

New Delhi, Jun 30 (PTI) Seeking more funds to tide over the state's financial woes, Kerala Finance Minister K N Balagopal on Sunday said the Centre should have a state-specific rather than a uniform financial approach towards states as each of them has different kinds of developmental...

03:56 PM

Ginger Hotels to Double Presence in East & Northeast India

New Delhi, Jun 30 (PTI) Tata Group's budget hospitality brand Ginger Hotels is looking to double its presence in East and Northeast India in the next three to five years, according to a senior company official. Ginger Hotels, operated by Roots Corporation Ltd (RCL), a subsidiary of the Indian...

03:34 PM

Air India Express Cabin Crew Union Alleges Unfair Labor Practices

New Delhi, Jun 30 (PTI) Air India Express' cabin crew union has alleged unfair labour practices by the airline, including in issuance of charge sheets to its members, and sought the intervention of the labour commissioner to resolve the issues. The Air India Express Employees Union (AIXEU),...

03:27 PM

Deutsche Bank to Focus on Digital Growth in India

Mumbai, Jun 30 (PTI) German lender Deutsche Bank will be focussing on the digital channel over the branch model to grow its business in the country, a top official said. Changes in rules by the RBI mandating geographical location restrictions while onboarding customers will be of help, Kaushik...

03:17 PM

Skoda CEO: India Most Important Market Outside Europe

Prague, Jun 30 (PTI) Czech car maker Skoda is lining up new models, expanding sales network and also looking to forge partnerships to scale up business in India, the most important market for the brand outside Europe, according to global CEO Klaus Zellmer. The company, which currently sells...

02:37 PM

Punjab & Sind Bank to Raise Rs 2,000 Cr via QIP

New Delhi, Jun 30 (PTI) State-owned Punjab & Sind Bank plans to raise Rs 2,000 crore in the second half of this fiscal via Qualified Institutional Placement (QIP) to fund business growth. "The board has already given approval, and merchant bankers should be on-boarded by August," Punjab...

02:32 PM

Global Compact on AI: India to Leverage AI for Citizen Services

New Delhi, Jun 30 (PTI) AI's cross-border nature will require a 'Global Compact' to ensure its benefits reach all of humanity and to safeguard against any potential misuse, Arundhati Bhattacharya, the top boss of Salesforce India has said exuding confidence that for India, Artificial Intelligence...

02:12 PM

Maharashtra Power Tender Scrutinized by MERC

Mumbai, Jun 30 (PTI) The Maharashtra State Electricity Distribution Company Ltd's (MSEDCL) 6,600 MW tender for long-term power procurement has come under the security of Maharashtra Electricity Regulatory Commission (MERC). In response to an application filed by the state power utility MSEDCL to...

02:05 PM

Sattva Group Targets 85% Housing Sales Growth to Rs 6,500 Cr

New Delhi, Jun 30 (PTI) Realty firm Sattva Group is bullish on India's housing market and will launch many projects to achieve 85 per cent growth in sales of residential properties to around Rs 6,500 crore this fiscal, a top company official said. In the 2023-24, Bengaluru-based Sattva Group...

01:50 PM

Indian Army Inducts First Indigenous 4G Base Station

New Delhi, Jun 30 (PTI) Indian army has inducted the first-ever indigenous chip-based 4G mobile base station, which it procured from Bangalore-based firm Signaltron through the government e-marketplace portal, a top company official said. Signaltron founder Himamshu Khasnis told PTI that the...

01:05 PM

UFO Moviez Launches Data-Driven Ad Platform for Cinemas

New Delhi, Jun 30 (PTI) India's leading in-cinema advertising player UFO Moviez on Sunday announced the launch of a new web-based platform for advertisers which will provide data-driven insights to plan and evaluate ad campaigns. Leveraging the latest technology and data analysis, the new ProCAT...

12:57 PM

Akasa Air CEO: Aviation Market Big Enough for Success

New Delhi, Jun 30 (PTI) As Akasa Air spreads its wings on domestic and international routes, the less-than-two-year-old airline's chief Vinay Dube has said he does not think about competition in encouraging or discouraging terms, as the aviation market is "big enough for us to succeed". The...

12:32 PM

Mumbai Property Registrations Up 12% in June: Knight Frank

New Delhi, Jun 30 (PTI) The registration of properties in the Mumbai municipal region rose 12 per cent annually in June to 11,575 units on better demand for housing assets, according to Knight Frank. Mumbai city (area under Bombay Municipal Corporation jurisdiction) saw registration of 11,575...

12:09 PM

Indian Wedding Industry: Rs 10 Lakh Cr Market, 2x Spending Than Education

New Delhi, Jun 30 (PTI) The Indian wedding industry size of approximately Rs 10 lakh crore (USD 130 billion) is second only to food and grocery, with an average Indian spending twice on marriage ceremony than education, a report said. India sees 80 lakh to 1 crore weddings annually compared to...

11:40 AM

Bihar Investor Summit: Mega Event in Dec, Roadshows Begin Monday

New Delhi, Jun 30 (PTI) Bihar will roll out the red carpet for domestic and foreign investors at a mega event in December as it looks to lure investments in sectors like textiles, food processing and EVs that will create jobs and boost business in the state. After the grand success of the 2023...

11:30 AM

Sony India to Overtake Japan as 3rd Largest Market: MD

New Delhi, Jun 30 (PTI) Japanese consumer electronics giant Sony expects India to overtake home market and become the company's third largest market globally in the next couple of years with its revenue from the country reaching Rs 10,000 crore. Sony India Managing Director Sunil Nayyar said...

11:15 AM

Indian Economy Poised for Stable High Growth: RBI MPC Member

New Delhi, Jun 30 (PTI) Indian economy is poised for potentially a stable high growth phase and it is also in a strong position in the context of significant risks that the country is facing, RBI's monetary policy committee member Shashanka Bhide said on Sunday. Bhide further said with the...

11:11 AM

Mamata Machinery Files IPO: Gujarat Packaging Firm Seeks Listing

New Delhi, Jun 30 (PTI) Packaging equipment manufacturer Mamata Machinery Ltd has filed preliminary papers with capital markets regulator Sebi to float an initial public offering (IPO). The Gujarat-based company's initial share sale is entirely an offer for sale (OFS) of 73.82 lakh equity...

10:55 AM

FPIs Invest Rs 26,565 Crore in Indian Equities in June

New Delhi, Jun 30 (PTI) After two months of net outflow, foreign investors turned buyers in June, infusing Rs 26,565 crore in Indian equities, driven by political stability and a sharp rebound in markets. Looking ahead, attention will gradually shift towards the budget and Q1 FY25 earnings,...

10:45 AM

EPFO New Members Dip 4% in 2023-24: MoSPI

New Delhi, Jun 30 (PTI) Retirement fund body EPFO's gross new subscribers addition declined by over 4 per cent to 1.09 crore in 2023-24 compared to a year ago, as per a report by Ministry of Statistics & Programme Implementation (MoSPI). According to the report 'Payroll Reporting in India:...

10:34 AM

Urja Ganga Gas Pipeline Delayed to March 2025

New Delhi, Jun 30 (PTI) The construction of the Rs 12,940-crore 'Urja Ganga' gas pipeline, India's most ambitious project taking environment-friendly fuel to eastern parts of the country, has been delayed by nine months and will now be completed by March 2025, state-owned GAIL (India) Ltd said....

10:30 AM

Top 10 Indian Companies Mcap Rises by Rs 2.89 Lakh Cr: Reliance Tops

New Delhi, Jun 30 (PTI) Nine of the top-10 most valued firms together added Rs 2,89,699.42 crore in market valuation last week, with Reliance Industries emerging as the biggest gainer, in line with a rally in equities. Last week, the BSE benchmark jumped 1,822.83 points or 2.36 per cent. The...

10:02 AM

Domestic & Global Trends To Drive Markets This Week: Analysts

New Delhi, Jun 30 (PTI) Domestic macroeconomic data announcements, global trends and trading activity of foreign investors would guide market sentiments this week, analysts said. After a record rally, markets may face volatile trends this week amid elevated valuations and investors would also...

29 Jun, 2024

Punjab PSPCL Meets Record Electricity Demand of 16,089 MW

Chandigarh, Jun 29 (PTI) Punjab power minister Harbhajan Singh said the state power utility PSPCL has met the highest-ever electricity demand of 16,089 MW on Saturday. The earlier record was 15,933 MW set on June 19, he said in a statement. "Punjab has consistently witnessed high peak demand...

29 Jun, 2024

Maharashtra to Release White Paper on MoUs, Investments

Mumbai, Jun 29 (PTI) The Maharashtra government will come out with a White Paper on the number of MoUs signed in the last three years and their current status as well as industries that have come into and left the state, minister Uday Samant said on Saturday. Speaking in the Legislative Council,...

29 Jun, 2024

J&K Startup Opportunities: Lt Governor Sinha's Vision

Srinagar, Jun 29 (PTI) Jammu and Kashmir Lieutenant Governor Manoj Sinha on Saturday said the Union Territory has immense possibilities for startups across sectors and the government is committed to handhold young entrepreneurs. "I believe startups are powerful instrument to bridge the gap...

29 Jun, 2024

Ravi Agrawal Appointed CBDT Chairman - Latest News

New Delhi, Jun 29 (PTI) Ravi Agrawal, a 1988-batch IRS officer, has been appointed as the new chairman of the Central Board of Direct Taxes (CBDT), the administrative body for the Income Tax Department. He takes over from Nitin Gupta, a 1986-batch Indian Revenue Service officer, whose extended...

29 Jun, 2024

Mumbai Property Registrations Surge 12% in June: Knight Frank

New Delhi, Jun 29 (PTI) Registration of properties in Mumbai municipal region rose 12 per cent annually in June to around 11,600 units on better demand, according to Knight Frank. Mumbai city (area under Bombay Municipal Corporation jurisdiction) saw registration of nearly 11,570 units till...

29 Jun, 2024

Celkon & ZTE to Make Wi-Fi 6 Routers in India

Amaravati, Jun 29 (PTI) Celkon Resolute, an electronics company, has partnered with Chinese ZTE Telecom to manufacture Wi Fi 6 routers at Tirupati in Andhra Pradesh, said a company official on Saturday. Wi Fi 6 router is an emerging technology which offers faster internet connectivity speeds,...

29 Jun, 2024

Delhi Airport T1 Shutdown: 20+ Flights Cancelled

New Delhi, Jun 29 (PTI) More than 20 flights of IndiGo that were to operate from Terminal 1 of the Delhi airport were cancelled on Saturday, a day after the terminal was shut down following the roof collapse incident. A source in the know said 23 flights of IndiGo and 2 flights of SpiceJet...

29 Jun, 2024

Egypt, EU Invest to Combat Inflation, Currency Crisis

Cairo, Jun 29 (AP) Egypt and the European Union on Saturday opened a two-day investment conference to advance the implementation of their strategic partnership agreement that includes a 7.4 billion-euro (USD 8 billion) aid package for the cash-strapped Middle Eastern nation. The March aid...

29 Jun, 2024

India-UK Trade Pact: Progress Expected After New British Govt

Mumbai, Jun 29 (PTI) Commerce and Industry Minister Piyush Goyal on Saturday expressed hope to make progress on the talks in the proposed free trade agreement (FTA) with the UK after the new British government takes charge. The UK's general election will be held on July 4. "With the UK,...

29 Jun, 2024

Bengaluru Commodities & Mangaluru Areca-Coconut Market Rates Unavailable

Bengaluru, Jun 29 (PTI) Saturday's Bengaluru commodities and Mangaluru areca-coconut market rates are not available from the sources. PTI DVR

29 Jun, 2024

India's Exports to Cross USD 800 Billion: Goyal

Mumbai, Jun 29 (PTI) India's goods and services exports are expected to cross USD 800 billion this fiscal despite global challenges, Commerce and Industry Minister Piyush Goyal said on Saturday. In 2023-24, the shipments stood at USD 778.2 billion (goods USD 437.1 billion and services USD 341...

29 Jun, 2024

Gujarat Signs MoUs with IBM, Microsoft for AI Boost

Gandhinagar, June 29 (PTI) The Gujarat government on Saturday signed memorandums of understanding with software giants IBM and Microsoft, and the National Association of Software and Service Companies (NASSCOM) for promoting the use of Artificial Intelligence technologies in the state. The...

29 Jun, 2024

European Jewelers Use Mega CFC for Quality Testing - CEO

Mumbai, Jun 29 (PTI) The services of a modern common facility centre developed at a special economic zone (SEZ) here are now being used by European jewellers for quality testing, an industry official said. The Bharat Ratnam Mega CFC (Common Facility Centre) at the SEEPZ (Santacruz Electronic...

29 Jun, 2024

Egypt, EU Invest to Tackle Inflation, Currency Crisis - AP News

Cairo, Jun 29 (AP) Egypt and the European Union on Saturday opened a two-day investment conference to advance the implementation of their strategic partnership agreement that includes a 7.4 billion-euro ($8 billion) aid package for the cash-strapped Middle Eastern nation. The March aid package...

29 Jun, 2024

IBM & Gujarat Govt. Partner for AI Cluster at GIFT City

New Delhi, Jun 29 (PTI) IBM and the Gujarat government on Saturday inked a pact to establish and promote an AI cluster leveraging IBM's 'watsonx' to drive innovation and collaboration among financial institutions in Gujarat International Finance Tec (GIFT) City. Under this partnership,...

29 Jun, 2024

SBI Chairman: FSIB Recommends C S Setty

New Delhi, Jun 29 (PTI) The Financial Services Institutions Bureau (FSIB) on Saturday selected SBI's senior most managing director C S Setty for the post of SBI Chairman. Setty is currently the managing director of SBI, looking after International Banking, Global Markets and Technology...

29 Jun, 2024

UP Govt Promotes Rooftop Solar Subsidy in Ayodhya, Varanasi, Gorakhpur

Lucknow, Jun 29 (PTI) The Uttar Pradesh government will launch an awareness campaign to promote the Centre's 'PM Surya Ghar Yojana' -- a rooftop solar subsidy scheme -- in Ayodhya, Varanasi, and Gorakhpur. The new initiative will add to the state's ongoing programmes and schemes to boost...

29 Jun, 2024

Bullion Rates Today: Gold, Silver Prices in India - June 29

Bengaluru, Jun 29 (PTI) Closing bullion rates on Saturday. Standard gold (99.5 purity): Rs 73,930 per 10 grams. Ornament gold: Rs 6,840 per gram. Silverspot (.999 fineness): Rs 90,200 per kg.

29 Jun, 2024

IFFCO Withdraws NCLT Plea in Triumph Offshore Case

New Delhi, Jun 29 (PTI) Fertiliser cooperative IFFCO has withdrawn its plea filed in NCLT that restrained Triumph Offshore from issuing any share or securities to lenders for paying loans. The move came after IFFCO (Indian Farmer Fertiliser Cooperative) exited from Triumph Offshore by selling...

29 Jun, 2024

MVN Aero One Leases 3 Lakh Sq Ft to Spring House in Gurugram

New Delhi, Jun 29 (PTI) Realty firm MVN Aero One has pre-leased 3 lakh square feet office space to co-working operator Spring House in its upcoming project in Gurugram. The office space has been given in the upcoming project 'MVN Aero One Mall' located in Sector-37 D, Dwarka Expressway,...

29 Jun, 2024

Exporters Urge Goyal to Restore IES Benefits - FIEO

Kolkata, Jun 29 (PTI) A body of exporters has written to Union Commerce and Industry Minister Piyush Goyal, expressing concerns over the extension of the Interest Equalisation Scheme (IES) for only two months and exclusively for MSMEs. Federation of Indian Export Organisations (FIEO) president...

29 Jun, 2024

Tanishq Launches Jewelry Brand in Bangladesh - Titan Company

New Delhi, Jun 29 (PTI) Titan Company on Saturday said it is launching its jewellery brand Tanishq in Bangladesh as part of expansion plans in the international market. On Friday, the Tata Group-managed firm signed a JV agreement to this effect with Rhythm Group which will make Tanishq...

29 Jun, 2024

Tanishq Launches in Bangladesh: Titan Expands Jewellery Brand

New Delhi, Jun 29 (PTI) Titan Company on Saturday said it is launching its jewellery brand Tanishq in Bangladesh as part of expansion plans in the international market. On Friday, the Tata Group-managed firm signed a JV agreement to this effect with Rhythm Group which will make Tanishq...

29 Jun, 2024

Private Banks Urged to Increase Benefits under Central Schemes

Bilaspur (HP), Jun 29 (PTI) Private sector banks in the district should give more benefits to people under various government schemes, especially pension schemes, Additional Deputy Commissioner (ADC) Bilaspur Nidhi Patel said. During a meeting with bankers' committee on Friday, she said as...

29 Jun, 2024

UN Warns: Only 17% of Global Goals on Track by 2030

United Nations, Jun 29 (AP) The United Nations warned Friday that only 17% of its 169 targets to improve life for the world's more than 7 billion people are on track to be reached by the 2030 deadline. U.N. Secretary-General Antonio Guterres launched the annual report saying, It shows the...

29 Jun, 2024

South Africa Challenges EU Citrus Import Rules at WTO

Johannesburg, June 28 (PTI) South Africa has asked the Dispute Settlement Body (DSB) of the World Trade Organisation (WTO) to consider what the country called unscientific and discriminatory measures placed on citrus imported from the African nation by the European Union (EU). The...

28 Jun, 2024

Tide Water Oil Focuses on Profitability Amid Diversification

Kolkata, Jun 28 (PTI) Amid diversification, city-based Tide Water Oil Co (India) Ltd will remain focused on profitability and will continue to leverage its flagship Veedol lubricant brand, a top official said on Friday. The company aims to capitalise on emerging opportunities in vehicle care and...

28 Jun, 2024

JSW Infrastructure Acquires Navkar Corporation: Logistics Foray

Kolkata, Jun 28 (PTI) JSW Infrastructure is keeping its corporate structure plan for Navkar Corporation under wraps now. Navkar Corp is engaged in the logistics and cargo transit service industry. The company had on Thursday said it will acquire 70.37 per cent shareholding in Navkar Corporation...

28 Jun, 2024

Argentina's President Milei's Economic Overhaul Passes After Protests

Buenos Aires (Argentina), Jun 28 (AP) Argentina's lower house on Friday approved President Javier Milei's sweeping economic overhaul bills, sealing a much-needed legislative victory for the libertarian leader after six months of bruising battles and raucous protests that had raised questions...

28 Jun, 2024

Airtel, Vi Hike Mobile Tariffs by 10-24% from July

New Delhi, Jun 28 (PTI) Bharti Airtel and Vodafone Idea will roll out revised mobile service tariffs increasing rates in the range of 10-24 per cent from the first week of July. Bharti Airtel announced a 10-21 per cent hike in prepaid and postpaid mobile tariffs from July 3, a day after larger...

28 Jun, 2024

Fidelity Sells HCL Tech Shares for Rs 1,788 Crore

New Delhi, Jun 28 (PTI) Fidelity Investments on Friday sold shares of HCL Technologies for Rs 1,788 crore through open market transactions. US-based Fidelity Investments, through its eight affiliates, sold shares of IT firm HCL Technologies through separate block deals on the National Stock...

28 Jun, 2024

Godrej Properties Acquires 11-Acre Land in Pune for Rs 1,800 cr Project

New Delhi, Jun 28 (PTI) Realty firm Godrej Properties on Friday said it has got leasehold right on an 11-acre land in Pune to develop a housing and high-street retail project with an estimated revenue of around Rs 1,800 crore. In a regulatory filing, Godrej Properties said the company has...

28 Jun, 2024

Noida Film City: 50,000 Jobs, 7 Lakh Indirect Benefits - UP Govt

Noida, Jun 28 (PTI) The construction on the Noida International Film City project is expected to start within six months and it will create 50,000 jobs while benefitting up to seven lakh people indirectly, the Uttar Pradesh government said on Friday. Bayview Projects, a consortium backed by...

28 Jun, 2024

HRTC to Fill 600 Driver Vacancies in Himachal Pradesh

Shimla, Jun 28 (PTI) Himachal Pradesh Road Transport Corporation (HRTC) will soon fill up 600 vacant posts of drivers, said Deputy Chief Minister Mukesh Agnihotri. Chairing the 156th meeting of the Board of Directors of HRTC here, Agnihotri, who also holds the portfolio of the Transport...

28 Jun, 2024

Sebi Bans LFS Broking, MD for 5 Years

New Delhi, Jun 28 (PTI) Markets regulator Sebi on Friday cancelled the registration of LFS Broking and barred its MD Saiyad Jiyajur Rahaman from being employed or associated with any registered intermediary for five years for violating market norms. The regulator also cancelled the...

28 Jun, 2024

India's Coal Import Growth Slows to 2.5% in a Decade: Govt

New Delhi, Jun 28 (PTI) The government on Friday said the annual growth in India's coal imports has declined to just 2.49 per cent in the past decade until FY24 as the country moves towards becoming self-reliant in energy security. The compound annual growth rate (CAGR) of coal imports from...

28 Jun, 2024

Mobile Number Porting: 7-Day Wait After SIM Swap From July 1

New Delhi, Jun 28 (PTI) There will be a seven-day waiting period after the SIM swap or replacement for a mobile number to become eligible for porting, telecom regulator Trai said on Friday. The step has been taken to curb fraud taking place by using mobile phone numbers. "The Telecom...

28 Jun, 2024

GTI Capital Sells Samhi Hotels Stake for Rs 193 Crore

New Delhi, Jun 28 (PTI) Investment firm GTI Capital Group on Friday divested a 4.7 per cent stake in hospitality firm Samhi Hotels for Rs 193 crore through open market transactions. GTI Capital Alpha, an affiliate of Mauritius-based GTI Capital Group, offloaded shares of Samhi Hotels through...

28 Jun, 2024

Vodafone Idea Raises Mobile Tariffs by 11-24% from July 4

New Delhi, Jun 28 (PTI) Loss-making telecom operator Vodafone Idea will raise mobile tariffs across the board by 11-24 per cent from July 4, according to a company statement. Vodafone Idea (Vi) follows the tariff hike stage set by Reliance Jio on Thursday. Reliance Jio and Bharti Airtel will...

28 Jun, 2024

Airport Structural Strength Inspection Ordered After Delhi Collapse

New Delhi, Jun 28 (PTI) The civil aviation ministry on Friday ordered a thorough inspection of the structural strength of all airports in the country, following the roof collapse incident at the Delhi airport that left one dead and at least six persons injured. Following the incident that...

28 Jun, 2024

CM Lays Foundation Stone of 10 MW Solar Project in Himachal Pradesh

Una (HP), Jun 28 (PTI) Chief Minister Sukhvinder Singh Sukhu laid the foundation stone of the 10 MW solar power project at Aghlor in Kutlehar Assembly Constituency of Una district on Friday. The project will be constructed in an area of 19 hectares and completed within three months. It will...

28 Jun, 2024

India's Iron Ore Production Rises 4% to 52 MMT in Apr-May

New Delhi, Jun 28 (PTI) The country's iron ore production increased by four per cent to 52 million metric tonnes (MMT) in the April-May period of the ongoing fiscal. The country's iron ore output was at 50 MMT in the corresponding period of previous fiscal, according to provisional figures....

28 Jun, 2024

India Extends Export Scheme, But FIEO Disappointed

New Delhi, Jun 28 (PTI) The government on Friday extended the interest equalisation scheme on pre- and post-shipment rupee export credit for two months to promote the country's outbound shipments. The scheme which provides exporters interest benefits was ending on June 30 this year. However,...

28 Jun, 2024

Sebi Proposes Mandatory Risk-Adjusted Return for Mutual Funds

New Delhi, Jun 28 (PTI) Capital markets regulator Sebi on Friday proposed mandatory disclosure of 'risk-adjusted return' along with the return of a mutual fund scheme to help investors make informed investment decisions. Risk-adjusted return (RAR) of a scheme portfolio represents a more...

28 Jun, 2024

India Economy Growth Outlook: ITC Report | FY2024-25

New Delhi, Jun 28 (PTI) The Indian economy is likely to sustain its high growth trajectory in FY2024-25, driven by strong momentum in fixed investments and a pickup in private consumption, said conglomerate ITC in its latest annual report. Besides, there are "green shoots of recovery in rural...

28 Jun, 2024

Maharashtra Startup Growth: Aiming for 50,000 Startups

Mumbai, Jun 28 (PTI) Maharashtra's industries minister Uday Samant has said the state aims to increase the number of startups to 50,000 from 8,300 startups at present. He did not specify the timeline. Speaking at an event organised by industry lobby grouping Assocham, Samant also pitched for...

28 Jun, 2024

Pakistan Passes Rs 18.8 Billion Budget for Fiscal 2024-25

Islamabad, Jun 28 (PTI) Cash-strapped Pakistan's Parliament on Friday passed a Rs 18,877 billion budget for the fiscal year 2024-25, amidst protests from the Opposition which labelled it as an IMF-driven document that was harmful to the public. The Finance Bill, 2024, detailing the expenditures...

28 Jun, 2024

Sebi Fines Kwality's Ex-MD, Others for Financial Misrepresentation

New Delhi, Jun 28 (PTI) Markets regulator Sebi on Friday slapped fines totalling Rs 3.75 crore on former promoter and MD of dairy firm Kwality's Sanjay Dhingra and other entities for misrepresenting the financials of the company. Kwality went into insolvency process in December 2018 and was...

28 Jun, 2024

ITC FMCG Spending Rises 12% to Rs 32,500 Crore in FY24

New Delhi, Jun 28 (PTI) Diversified conglomerate ITC has said consumer spending on the company's FMCG products has increased 12 per cent to nearly Rs 32,500 crore in FY24 with over 25 crore households having access to its various brands. ITC measures annual consumer spending as the sum total...

28 Jun, 2024

Karnataka Seeks GIFT City Model, Fast-Track Approvals

Bengaluru, Jun 28 (PTI) The Karnataka government on Friday made a strong pitch for establishing a dedicated Central Business District -- modelled on the lines of Gujarat's GIFT City on the Sabarmati banks in Ahmedabad -- in the state, besides seeking faster clearance for multiple projects across...

28 Jun, 2024

RBI Raises State WMA Limit to Rs 60,118 Crore

Mumbai, Jun 28 (PTI) The Reserve Bank of India on Friday upwardly revised the aggregate Ways and Means Advances (WMA) limit of state governments and Union Territories to Rs 60,118 crore effective July 1, 2024. The existing limit is Rs 47,010 crore. The WMA are temporary advances given by the...

28 Jun, 2024

Orchid Pharma & Cipla Partner for New Antibiotic in India

New Delhi, Jun 28 (PTI) Orchid Pharma Ltd on Friday said it has partnered with Cipla for the launch and distribution of its new antibiotic Cefepime-Enmetazobactam in India. The company's new drug - Cefepime-Enmetazobactam - has been approved for the treatment of complicated urinary tract...

28 Jun, 2024

Mahindra Group Appoints Ankit Todi as Chief Sustainability Officer

Mumbai, Jun 28 (PTI) Mahindra Group on Friday announced the appointment of Ankit Todi as the new Group Chief Sustainability Officer. Prior to this, he had been working as lead, sustainability strategy and partnerships, at the Mahindra Group, the company said in a statement. Todi, who joined...

28 Jun, 2024

Low-Carbon Tech & Finance for Textile MSMEs in India

Surat, Jun 28 (PTI) Senior government officials and experts have called for the implementation of low-carbon technologies and the higher availability of financing opportunities for textile MSMEs. A workshop on 'Energy-Efficient Technology and Finance', organised on International MSME Day on...

28 Jun, 2024

BEL Secures Rs 3,172 Crore Order for Tank Upgrade

Bengaluru, Jun 28 (PTI) Navratna Defence Public Sector Undertaking, Bharat Electronics Limited (BEL) has signed a contract valued at Rs 3,172 crore with Armoured Vehicles Nigam Limited (AVNL) on Friday at AVNL Headquarters in Chennai. According to an official statement, BEL, which is...

28 Jun, 2024

Sebi Raises Demat Account Limit to Rs 10 Lakh

New Delhi, Jun 28 (PTI) To boost participation of small investors in the securities market, Sebi on Friday increased the threshold for the basic service demat account to Rs 10 lakh from the current Rs 2 lakh. The new guidelines will come into force from September 1, the Securities and Exchange...

28 Jun, 2024

Nazara Subsidiary Acquires Freaks 4U Gaming in Rs 271 Cr Deal

New Delhi, Jun 28 (PTI) E-sports and gaming company NODWIN will enhance its stake to 100 per cent in its European peer Freaks 4U in a share swap deal valued at around Rs 271 crore, the company said on Friday. Singapore-based NODWIN is a material subsidiary of Nazara Technologies, a company...

28 Jun, 2024

BRICS Nations: Ensure Developing Countries Utilize Carbon Space - India

New Delhi, Jun 28 (PTI) India said on Friday BRICS nations should ensure that developing countries utilise the available carbon space and stand together to uphold the principles of equity and common but differentiated responsibilities and respective capabilities (CBDR-RC). Participating in the...

28 Jun, 2024

India-CIS Land Routes for Agri-Trade: Sahney's Call

New Delhi, Jun 28 (PTI) Rajya Shah member Vikram Sahney has called for the opening of land routes between India and CIS (Commonwealth of Independent States) countries. Speaking at the BRICS Russia Conference on Food Security and Sustainable Agricultural Development in Moscow on June 27, the AAP...

28 Jun, 2024

Trump Media Stock Jumps After Debate | Truth Social

New York, Jun 28 (AP) Shares of Trump Media, the owner of social networking site Truth Social, jumped 5 per cent at the opening bell on Friday after the first US presidential debate, with some investors believing it could become a bigger mouthpiece for the former president if he is re-elected....

28 Jun, 2024

GAIL Advances Net Zero Target to 2035

New Delhi, Jun 28 (PTI) State-owned gas utility GAIL (India) Ltd on Friday said it has advanced the target to achieve net zero carbon emission by five years to 2035 as it takes multi-prolonged approach to reaching the goal. The company was previously targeting net zero carbon emissions by...

28 Jun, 2024

Argentine Congress Approves Milei's Economic Overhaul

Buenos Aires, Jun 28 (AP) Argentina's lower house on Friday approved President Javier Milei's sweeping economic overhaul bills, sealing a much-needed legislative victory for the libertarian leader after six months of bruising negotiations and raucous protests that had raised questions about his...

28 Jun, 2024

India, US Extend Digital Tax Deadline to June 30

New Delhi, Jun 28 (PTI) India and the US have decided to extend a 2 per cent equalisation levy or digital tax on e-commerce supplies until June 30, the finance ministry said on Friday. In a major reform of the international tax system, India and the US have joined 134 other members of the...

28 Jun, 2024

RBI Fines HSBC Rs 29.6 Lakh for Credit Card Violations

Mumbai, Jun 28 (PTI) The RBI on Friday said it has imposed a penalty of Rs 29.6 lakh on The Hongkong and Shanghai Banking Corporation Limited (HSBC) for non-compliance with certain directions related to cards. The penalty has been imposed on HSBC for non-compliance with certain directions...

28 Jun, 2024

West Bengal Raises IT Working Hours: 9 Hours a Day, 48 Hours a Week

Kolkata, Jun 28 (PTI) The West Bengal government is increasing the daily working hours limit by 30 minutes from July 1, meeting the long-standing demand of the information technology industry, IT Industry Minister Babul Supriyo said on Friday. However, the 48-hour weekly limit remains unchanged,...

28 Jun, 2024

Noida Airport to Begin Commercial Operations by December 2024

Noida, Jun 28 (PTI) The Uttar Pradesh government on Friday asked officials to ensure that the commercial operations of Noida International Airport must begin by December this year. State Chief Secretary Durga Shankar Mishra issued the directions after a review meeting with concerned officials...

28 Jun, 2024

Japanese Firms Invest in India: JETRO Official

Kolkata, Jun 28 (PTI) Japanese companies are increasingly turning their focus towards India, with expectations of significant expansion in the eastern and northeastern regions, a top official from the Japan External Trade Organisation (JETRO) said here on Friday. JETRO is a Japanese...

28 Jun, 2024

AWS Space Accelerator: Supporting 24 Indian Startups

New Delhi, Jun 28 (PTI) Amazon Web Services (AWS) on Friday launched a space accelerator programme to support 24 startups. Through the 14-week programme, AWS said it will support selected space-tech startups in the growth journey with expertise, mentorship, and AWS credits cumulatively worth...

28 Jun, 2024

Tech Mahindra Launches Indic Language LLM 'Project Indus' - Tech News

New Delhi, Jun 28 (PTI) Tech Mahindra on Friday announced launch of Project Indus, a large language model (LLM) designed to converse in a multitude of Indic languages and dialects. The first phase of Indus LLM is designed for the Hindi language and its 37+ dialects. "Project Indus is our...

28 Jun, 2024

Gold & Silver Rates Today: June 28, 2023

Bengaluru, Jun 28 (PTI) Closing bullion rates on Friday. Standard gold (99.5 purity): Rs 73,800 per 10 grams. Ornament gold: Rs 6,830 per gram. Silverspot (.999 fineness): Rs 89,900 per kg.

28 Jun, 2024

Future Generali India to Hire 1% PwD by Dec 2024

New Delhi, Jun 28 (PTI) Future Generali India Insurance on Friday said specially-abled persons (Persons with Disabilities or PwD) to account for nearly one per cent of its total workforce of 4,000 employees by December 2024. The general insurance company -- which was among the first in the...

28 Jun, 2024

India Extends Imported Coal Blending for Power Plants Till October

New Delhi, Jun 28 (PTI) The government has asked domestic coal-based thermal power producers to continue blending imported fuel until October 15, and reduced proportion of blending to 4 per cent from six per cent to ensure uninterrupted electricity supply during summer. The move will ensure...

28 Jun, 2024

Udupi Cochin Shipyard Bags Rs 1,100 cr Order for Cargo Vessels

Kochi, Jun 28 (PTI) The Udupi Cochin Shipyard Limited (UCSL), a wholly owned subsidiary of the Cochin Shipyard Limited (CSL), has bagged a Rs 1,100 crore-worth international order for eight 6300 TDW dry cargo vessels. CSL said it has won an international order from Wilson ASA, Norway, for the...

28 Jun, 2024

Vraj Iron IPO Oversubscribed 119 Times

New Delhi, Jun 28 (PTI) The initial public offer of Vraj Iron and Steel got subscribed 119 times on the last day of bidding on Friday helped by heavy participation from institutional investors. The Rs 171-crore initial share sale received bids for 73,07,13,312 shares against 61,38,462 shares...

28 Jun, 2024

FATF Praises India's Anti-Money Laundering Efforts

New Delhi, Jun 28 (PTI) The FATF mutual evaluation report recognising India's fight against money laundering and terror financing is satisfying and exemplary, highly placed sources said. As regards the issues flagged by the international watchdog to combat money laundering and terror...

28 Jun, 2024

MBA in Digital Maritime & Supply Chain | IIT Madras

Chennai, Jun 28 (PTI) The Indian Institute of Technology, Madras here on Friday launched the post graduate MBA programme in Digital Maritime and Supply Chain targeted at working professionals. The two-year programme, developed by departments of management studies and ocean engineering along with...

28 Jun, 2024

CCI to Amend Competition Rules: Green Channel, De Minimis & More

New Delhi, Jun 28 (PTI) Fair trade regulator CCI will shortly come out with changes to certain competition rules, including those related to green channel approvals for mergers and acquisitions. Speaking at a conference in the national capital, Competition Commission of India (CCI) Chairperson...

28 Jun, 2024

Areca & Coconut Prices Today in Mangaluru - June 28

Mangaluru, Jun 28 (PTI) Following are Friday's areca and coconut prices. Areca (per quintal) Old Supari : Rs 34,000 to Rs 46,000, model Rs 38,500. New Supari : Rs 23,000 to Rs 38,000, model Rs 30,500. Koka : Rs 20,000 to Rs 27,500 model Rs 25,000. Coconut (per thousand) 1st quality: Rs 16,000...

28 Jun, 2024

Small Savings Scheme Interest Rates Unchanged for Q2 FY25

New Delhi, Jun 28 (PTI) The government on Friday left the interest rates on various small savings schemes unchanged for the quarter beginning July 1, 2024. "The rates of interest on various small savings schemes for the second quarter of FY 2024-25, starting from July 1, 2024, and ending on...

28 Jun, 2024

Bandhan Bank Launches Online Direct Tax Payment

Kolkata, Jun 28 (PTI) Bandhan Bank on Friday said it has launched a facility for online collection of direct taxes, enabling its customers and others to pay taxes seamlessly across India. As an RBI-appointed agency bank, it also accepts offline payments through its 1,700 branches, the lender...

28 Jun, 2024

Agri Minister Launches Portal for Faster AIF Claims

New Delhi, Jun 28 (PTI) Union Agriculture Minister Shivraj Singh Chouhan on Friday launched a web portal to speed up settlement of interest subvention claims of banks submitted under the Agriculture Infrastructure Fund (AIF) and highlighted that Rs 43,000 crore has been sanctioned so far under...

28 Jun, 2024

India's Fiscal Deficit at 3% in First Two Months of FY25

New Delhi, Jun 28 (PTI) The central government's fiscal deficit was only at 3 per cent of the annual estimates at May-end 2024-25, the first two months of the financial year during which model code of conduct was in place due to Lok Sabha elections. The fiscal deficit or the gap between the...

28 Jun, 2024

Delhi Airport Roof Collapse: Govt Warns Airlines Against Airfare Surge

New Delhi, Jun 28 (PTI) The civil aviation ministry on Friday asked airlines to ensure that there is no abnormal surge in airfares for flights to and from the national capital amid suspension of operations at Delhi airport's Terminal 1 following the roof collapse incident. On Friday at around...

28 Jun, 2024

India's Key Infrastructure Sectors Grow 6.3% in May

New Delhi, Jun 28 (PTI) The eight key infrastructure sectors' growth rose by 6.3 per cent in May on healthy expansion in the production of coal, natural gas, and electricity, according to official data released on Friday. The production of the eight sectors grew 6.7 per cent in April. The...

28 Jun, 2024

India's Forex Reserves Jump to $653.71 Billion - RBI

Mumbai, Jun 28 (PTI) India's forex reserves jumped by USD 816 million to USD 653.711 billion for the week ended June 21, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped by USD 2.922 billion to USD 652.895 billion. The all-time high for the reserves is...

28 Jun, 2024

Gold Price Rises Rs 370, Silver Jumps Rs 600 - HDFC Securities

New Delhi, Jun 28 (PTI) Gold prices climbed Rs 370 to Rs 72,550 per 10 grams in the national capital on Friday amid a rise in precious metal rates internationally, according to HDFC Securities. The yellow metal prices had settled at Rs 72,180 per 10 grams on Thursday. Silver prices also...

28 Jun, 2024

60% MSMEs to Digitize by 2025: Vi Study

New Delhi, Jun 28 (PTI) Almost 60 per cent of MSMEs plan to digitise their business processes, and 43 per cent plan to increase their digitalisation budget by 2025, according to a study by Vi Business, the enterprise arm of Vi (Vodafone Idea). Medium, Small, and Micro Enterprises (MSMEs) are...

28 Jun, 2024

NPS Subscribers Get Same-Day Settlement | PFRDA

New Delhi, Jun 28 (PTI) The Pension Fund Regulatory and Development Authority has permitted T+0 settlement for National Pension System (NPS) subscribers effective July 1. NPS contributions received by the Trustee Bank until 11 am (T) on any settlement day will be invested on the same day and...

28 Jun, 2024

Wockhardt to Launch Antibiotic Zaynich with USD 25 Billion Market Potential

Mumbai, Jun 28 (PTI) Drugmaker Wockhardt on Friday said research and trials on the antibiotic Zaynich are progressing satisfactorily, and it is aiming for an early FY26 launch. Zaynich has a market potential of USD 25 billion, the city-based company's founder chairman Habil Khorakiwala told...

28 Jun, 2024

India's Govt. Liabilities Rise 3.4% to ₹171.78 Lakh Crore - Finance Ministry

New Delhi, Jun 28 (PTI) Total gross liabilities of the government increased to Rs 171.78 lakh crore at the end of March 2024 from Rs 166.14 lakh crore at December-end, the finance ministry has said. This represented a quarter-on-quarter increase of 3.4 per cent in the fourth quarter of...

28 Jun, 2024

Telecom Tariff Hikes Signal Improved Profitability: ICRA

New Delhi, Jun 28 (PTI) The latest telecom tariff hikes announced by telcos can yield additional operating profits of around Rs 20,000 crore for the industry once they are fully absorbed, ICRA said on Friday. With an improved financial metrics, the industry will have the headroom to undertake...

28 Jun, 2024

Delhi Airport Roof Collapse: Technical Panel Formed, Heavy Rains Blamed

New Delhi, Jun 28 (PTI) Delhi airport operator DIAL on Friday said it has set up a technical committee to probe the roof collapse at the airport's Terminal 1 and the primary cause of the incident seems to be continued heavy rainfall. In the incident, which happened at around 5 am on Friday,...

28 Jun, 2024

Maharashtra Budget: Petrol, Diesel Cheaper in Mumbai

Mumbai, Jun 28 (PTI) The Maharashtra government on Friday slashed the value-added tax (VAT) on fuel in the Mumbai metropolitan region, which will make petrol cheaper by 65 paise per litre and diesel by Rs 2.60 per litre. The announcement was made by Deputy Chief Minister and state Finance...

28 Jun, 2024

Tata Steel UK Strike Threatens Plant Closure

London, Jun 28 (PTI) Tata Steel on Friday said it is being forced to commence legal action to challenge the validity of a steelworkers' union strike ballot, as it warned that its blast furnaces at Port Talbot may have to pause operations amid the industrial action. The Mumbai-headquartered steel...

28 Jun, 2024

Reliance Industries Market Cap Hits Record High - 21 Lakh Crore

New Delhi, Jun 28 (PTI) Shares of Reliance Industries climbed over 2 per cent on Friday, taking its market valuation above the Rs 21 lakh crore mark. The heavyweight stock rose by 2.31 per cent to settle at Rs 3,131.85 apiece on the BSE. During the day, it jumped 3.27 per cent to hit a record...

28 Jun, 2024

India to Offer Washed PCI Coal to Steelmakers to Reduce Imports

New Delhi, Jun 28 (PTI) The government is in the process of finalising a policy to offer washed PCI coal to steel makers in order to reduce imports, a senior official said on Friday. PCI (pulverized coal injection) coal is a type of metallurgical coal, which is used in the steel making process...

28 Jun, 2024

Sensex, Nifty Slip After Record Rally: Profit-Booking Hits Banking Stocks

Mumbai, Jun 28 (PTI) Market benchmarks Sensex and Nifty halted their three-day record-hitting rally to close with losses on Friday as investors booked profit in banking, finance and tech stocks despite a positive trend in global equities. Snapping a four-session winning run, equity indices...

28 Jun, 2024

80% Math Teachers Fail Basic Concepts: Study

New Delhi, Jun 28 (PTI) Nearly 80 per cent of in-service math teachers across India and the Middle East falter on basic concepts such as ratio, proportional reasoning, algebraic reasoning, estimation and logical reasoning, according to a new study. The study assessed over 1300 in-service...

28 Jun, 2024

Rupee Rises 7 Paise to Close at 83.38 vs US Dollar

Mumbai, Jun 28 (PTI) The rupee appreciated 7 paise to settle at 83.38 (provisional) against the US dollar on Friday backed by renewed foreign fund inflows. Forex traders said the strength of the American currency in the overseas market, elevated crude oil prices and US dollar demand from oil...

28 Jun, 2024

Tech Mahindra: AI, Golden Thread & Future of IT Services - Anand Mahindra

New Delhi, Jun 28 (PTI) Technology is a golden thread binding an organisation's work to its future vision, and the power of artificial intelligence (AI) can strengthen this thread, said Tech Mahindra chairman Anand Mahindra. Penning his thoughts in the annual report 2023-24 of IT services and...

28 Jun, 2024

Breath Analyser Verification: New Rules for Road Safety

New Delhi, June 28 (PTI) To prevent alcohol-related road incidents, the government has come out with a draft rules to ensure the accuracy and reliability of breath analyser equipment used by law enforcement agencies to measure alcohol concentration from breath samples. The Legal Metrology...

28 Jun, 2024

RBI Governor Stresses Eliminating Bias in AI Algorithms

Mumbai, Jun 28 (PTI) RBI Governor Shaktikanta Das on Friday emphasised on the need to eliminate biases in algorithms as the use of artificial intelligence (AI) and machine learning (ML) is on the rise. Delivering the inaugural address at the 18th Statistics Day Conference organised by the...

28 Jun, 2024

Maharashtra Budget: Women's Allowance & Free Gas Cylinders

Mumbai, Jun 28 (PTI) Maharashtra Deputy Chief Minister Ajit Pawar on Friday announced a financial assistance scheme entailing a monthly allowance of Rs 1,500 to eligible women in the age group of 21 to 60 years in the state Budget for 2024-25. Pawar, who holds the finance portfolio, said in his...

28 Jun, 2024

India-Bulgaria Trade: Green Transition Offers Opportunities

Sofia (Bulgaria), Jun 28 (PTI) The green transition currently high on the agenda in Europe will create more opportunities for cooperation and trade between India and Bulgaria, India's Ambassador to Bulgaria Sanjay Rana has said. The year 2024 is being celebrated as the 70th anniversary of the...

28 Jun, 2024

Guar Seed Futures Rise on Spot Demand | PTI

New Delhi, Jun 28 (PTI) Guar seed prices on Friday rose Rs 42 to Rs 5,320 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market. On the National Commodity and Derivatives Exchange, guar seed contracts for July delivery rose Rs 42...

28 Jun, 2024

Guar Gum Futures Surge on Strong Demand

New Delhi, Jun 28 (PTI) Guar gum prices on Friday increased Rs 71 to Rs 10,354 per five quintals in futures trade as speculators increased their holdings amid a firm spot demand. On the National Commodity and Derivatives Exchange, guar gum contracts for July delivery traded higher Rs 71 or...

28 Jun, 2024

Coriander Futures Rise on Higher Demand - PTI

New Delhi, Jun 28 (PTI) Coriander prices on Friday rose Rs 14 to Rs 7,400 per quintal in futures trade as speculators increased their holdings, tracking a firm trend in the spot market. On the National Commodity and Derivatives Exchange, coriander contracts for July delivery traded higher by...

28 Jun, 2024

Cottonseed Oil Cake Futures Decline on Weak Demand

New Delhi, Jun 28 (PTI) Cottonseed oil cake prices on Friday decreased Rs 4 to Rs 2,893 per quintal in futures trade as participants reduced their bets following weak trends in spot markets. On the National Commodity and Derivatives Exchange, cottonseed oil cake for July delivery fell Rs 4 or...

28 Jun, 2024

Zinc Futures Surge on Strong Demand - PTI

New Delhi, Jun 28 (PTI) Zinc prices on Friday rose Rs 1.15 to Rs 266.05 per kilogram in the futures trade amid a pick up in spot demand. On the Multi Commodity Exchange, zinc contracts for July delivery traded higher Rs 1.15 or 0.43 per cent at Rs 266.05 per kg with a business turnover of...

28 Jun, 2024

Copper Futures Rise on Higher Spot Demand - PTI

New Delhi, Jun 28 (PTI) Copper prices on Friday rose 0.56 per cent to Rs 838.95 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange, copper contracts for delivery in July traded higher Rs 4,70 or 0.56 per cent at Rs 838.95 per kg in a business...

28 Jun, 2024

Aluminium Futures Rise on Fresh Bets - PTI

New Delhi, Jun 28 (PTI) Aluminium prices on Friday climbed 0.83 per cent to Rs 229.85 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium contracts for July delivery increased by Rs 1.90 or...

28 Jun, 2024

Crude Oil Futures Rise on Spot Demand - PTI

New Delhi, Jun 28 (PTI) Crude oil prices on Friday increased Rs 62 to Rs 6,866 per barrel in futures trade as participants widened their positions following a firm spot demand. On the Multi Commodity Exchange, crude oil for July delivery traded higher by Rs 62 or 0.91 per cent at Rs 6,866 per...

28 Jun, 2024

Silver Futures Surge on Spot Demand - PTI

New Delhi, Jun 28 (PTI) Silver prices on Friday rose Rs 462 to Rs 87,510 per kilogram in futures trade as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange, silver contracts for July delivery increased Rs 462 or 0.53 per cent to Rs 87,510 per kg in 9,252...

28 Jun, 2024

NHPC & ENGIE Partner for 400 MW Solar Projects in Gujarat

New Delhi, Jun 28 (PTI) State-owned NHPC and energy solutions provider ENGIE on Friday announced signing of PPAs with Gujarat Urja Vikas Nigam Ltd (GUVNL) for two solar projects of 200 MW each. In a statement, NHPC said it has signed a power purchase agreement (PPA) with GUVNL for 200 MW...

28 Jun, 2024

Gold Futures Rise to Rs 71,620 per 10 gm - Business News

New Delhi, Jun 28 (PTI) Gold prices on Friday marginally rose Rs 48 to Rs 71,620 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for August delivery traded marginally higher Rs 48, or 0.05 per cent, at...

28 Jun, 2024

Airtel Raises Mobile Tariffs by 10-21%

New Delhi, Jun 28 (PTI) Bharti Airtel on Friday announced a 10-21 per cent hike in prepaid and postpaid mobile tariffs, a day after larger rival Reliance Jio announced an increase in rates. The move assumes significance, as it marks the first major increase in tariffs by the telecom industry,...

28 Jun, 2024

Emcure Pharma IPO: Rs 1,952 Crore Issue Opens July 3

New Delhi, Jun 28 (PTI) Bain Capital-backed Emcure Pharmaceuticals on Friday said it has fixed a price band of Rs 960 to Rs 1,008 per share for its Rs 1,952-crore Initial Public Offering (IPO). The initial share sale will be available for public subscription during July 3-5 and the bidding for...

28 Jun, 2024

Emcure Pharma IPO: Price Band Fixed at Rs 960-1,008/Share

New Delhi, Jun 28 (PTI) Bain Capital-backed Emcure Pharmaceuticals on Friday said it has fixed a price band of Rs 960 to Rs 1,008 per share for its Rs 1,952-crore Initial Public Offering (IPO). The initial share sale will be available for public subscription during July 3-5 and the bidding for...

28 Jun, 2024

Stock Market Today: Asian Shares Rise Ahead of US Inflation Report

Tokyo, Jun 28 (AP) Asian shares gained Friday as traders looked ahead to a key report on inflation that could influence the Federal Reserve's next move on interest rates. Japan's benchmark Nikkei 225 rose 0.4% to 39,583.08. Australia's S&P/ASX 200 rose 0.1% to 7,768.00. South Korea's Kospi...

28 Jun, 2024

Bansal Wire IPO Opens July 3: Rs 243-256/share

New Delhi, Jun 28 (PTI) Steel wire manufacturer Bansal Wire Industries on Friday said it has fixed a price band of Rs 243 to Rs 256 per share for its Rs 745-crore initial public offering (IPO). The initial share-sale will open for public subscription during July 3-5. The bidding for anchor...

28 Jun, 2024

Ashok Leyland Partners with Bajaj Finance for Vehicle Finance

New Delhi, Jun 28 (PTI) Commercial vehicle maker Ashok Leyland Ltd on Friday said it has partnered with Bajaj Finance for financial of vehicles across India. The company has signed a Memorandum of Understanding (MoU) with Bajaj Finance, a part of Bajaj Finserv, for the purpose, Ashok Leyland...

28 Jun, 2024

Stanley Lifestyles Shares Surge 38% on Debut

New Delhi, Jun 28 (PTI) Shares of luxury furniture brand Stanley Lifestyles Ltd listed with a premium of over 38 per cent on Friday, against the issue price of Rs 369. The stock started the trade at Rs 499, reflecting a jump of 35.23 per cent on the BSE. Later, it soared 38.21 per cent to Rs...

28 Jun, 2024

Sebi Allows 100% NRI Contribution for FPIs in GIFT IFSC

New Delhi, Jun 28 (PTI) Markets regulator Sebi has allowed up to 100 per cent aggregate contribution by non-resident Indians, Overseas Citizens of India, Resident Indians in the corpus of FPIs that are based out of International Financial Services Centre (IFSC). The move is expected to enhance...

28 Jun, 2024

Delhi Airport T1 Roof Collapse: Investigation Ordered, Flights Suspended

New Delhi, Jun 28 (PTI) An investigation has been ordered into the roof collapse at Delhi airport's Terminal 1 on Friday early morning that left one dead and six others injured, with Civil Aviation Minister K Rammohan Naidu announcing that a thorough inspection of the structure at the airport...

28 Jun, 2024

Bharti Airtel Raises Mobile Tariffs by 10-21% | Telecom News

New Delhi, Jun 28 (PTI) Bharti Airtel on Friday announced between 10-21 per cent hike in mobile tariffs, a day after larger rival Reliance Jio announced an increase in rates. Airtel, in a release, said that the revision in mobile tariffs will be effective from July 3. "We have ensured that...

28 Jun, 2024

Rupee Rises 8 Paise to 83.37 vs US Dollar

Mumbai, Jun 28 (PTI) The rupee appreciated 8 paise to 83.37 against the US dollar in early trade on Friday, supported by a positive trend in domestic equities and foreign fund inflows. Forex traders said the strength of the American currency in the overseas market and elevated crude oil prices...

28 Jun, 2024

Sensex, Nifty Hit All-Time Highs: Stocks, Markets & FIIs

Mumbai, Jun 28 (PTI) Benchmark indices Sensex and Nifty hit their new all-time high levels in early trade on Friday amid a rally in global markets, buying in Reliance Industries and fresh foreign fund inflows. The 30-share BSE Sensex jumped 308.49 points to hit a fresh record peak of 79,551.67....

27 Jun, 2024

Scindia Discusses Rural Community Hubs with India Post

New Delhi, Jun 27 (PTI) Union Communications Minister Jyotiraditya Scindia on Thursday held a meeting with the Department of Posts officials to discuss a 100-day plan, which will focus on the expansion of Dakghar Niryat Kendra and setting up rural community hubs, among others. "Had a...

27 Jun, 2024

Urban Company Hits Profitability, Revenue of Rs 1,140 Cr

New Delhi, Jun 27 (PTI) Door-step service provider Urban Company has achieved profitability in the April-June quarter and has achieved an annualised revenue run rate of around Rs 1,140 crore in the fiscal year 2025, a top company official said on Thursday. During a discussion on the...

27 Jun, 2024

Sebi Streamlines Debt Security Public Issue Process

Mumbai, Jun 27 (PTI) Markets regulator Sebi on Thursday decided to streamline the process for public issuance of debt securities to provide faster access to funds for such issuers. Under this, the Sebi's board has decided to reduce the period for seeking public comments on the draft offer...

27 Jun, 2024

Sebi Warns of Speculative F&O Bets, Tightens Rules - Economic Times

Mumbai, Jun 27 (PTI) Sebi chairperson Madhabi Puri Buch on Thursday said the capital markets regulator has anecdotal evidence of people borrowing money to place speculative bets in the derivatives segment and rued that household savings are going into such risky bets. Making it clear that it is...

27 Jun, 2024

Exporters Seek Dedicated Division to Address Non-Trade Barriers

New Delhi, Jun 27 (PTI) Domestic exporters on Thursday suggested the commerce ministry to set up a separate and dedicated division to deal with non-trade barriers being raised by different countries as they impact the country's outbound shipments. They also asked for an extension of interest...

27 Jun, 2024

Styrenix Promoter Sells 16.5% Stake for Rs 540 Crore

New Delhi, Jun 27 (PTI) Styrenix Performance Materials promoter Shiva Performance Materials on Thursday divested a 16.5 per cent stake in the speciality chemicals maker for Rs 540 crore through an open market transaction. According to the bulk deal data available with the BSE, Shiva Performance...

27 Jun, 2024

Haryana Farmers: Increased Power Load for Tubewells from July 1

Chandigarh, Jun 27 (PTI) Farmers can apply from July 1 for increased power load on their agricultural tubewells, Chief Minister Nayab Singh Saini said on Thursday citing the decision of the state Cabinet. The move is aimed at supporting the welfare of farmers across the state, he said after...

27 Jun, 2024

Flipkart Sellers Face Pricing Issues: Company Denies Intervention

New Delhi, Jun 27 (PTI) Some sellers on Flipkart have complained about issues facing problems in changing the price of their products since May 18 after the e-commerce company introduced a new commission rate card. The Walmart group firm, however, denied any role in influencing pricing on the...

27 Jun, 2024

Sebi Removes Fin Disincentive for Stock Exchange Execs

Mumbai, Jun 27 (PTI) Markets regulator Sebi's board on Thursday approved a proposal to remove the imposition of financial disincentives on the Managing Director and Chief Technology Officer of stock exchanges and other market infrastructure Institutions (MIIs) for technical glitches. Stock...

27 Jun, 2024

Healthcare Budget Demands: Incentives & Allocations

New Delhi, Jun 27 (PTI) The healthcare industry on Thursday demanded incentives and increased allocations for the sector in the upcoming Budget. In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, players demanded incentives in terms of affordable financing option and cheaper...

27 Jun, 2024

Jio Mobile Tariff Hike: 12-27% Increase, 5G Limits - July 3

New Delhi, Jun 27 (PTI) Reliance Jio, India's top telecom operator, announced a 12-27 per cent hike in mobile tariffs -- the first in two and half years, setting the stage for other operators like Vodafone Idea to raise charges. The company has also restricted the access of unlimited free 5G...

27 Jun, 2024

Akasa Air Launches Mumbai to Abu Dhabi Flights from Jul 11

New Delhi, Jun 27 (PTI) Akasa Air will start direct flights from Mumbai to Abu Dhabi from July 11 as the airline continues to expand its international operations. Abu Dhabi will be the fourth international destination for the airline, which commenced operations in August 2022. "Starting 11th...

27 Jun, 2024

Odisha Approves Rs 903 Cr Renewable Energy Projects

Bhubaneswar, Jun 27 (PTI) The Odisha government on Thursday approved investment proposals worth Rs 903.41 crore in the renewable energy (RE) sector, according to an official statement. The single window committee (SWC) of the Energy Department led by Principal Secretary Vishal Kumar Dev cleared...

27 Jun, 2024

Piramal, Others Exit Archean Chemical, Sell 10% Stake for Rs 822 Cr

New Delhi, Jun 27 (PTI) Piramal Natural Resources and two other entities on Thursday exited Archean Chemical Industries by selling their entire 10 per cent shareholding for Rs 822 crore through open market transactions. India Resurgence Fund - Scheme 1 & 2, affiliates of India Resurgence...

27 Jun, 2024

CBIC Launches Automated Currency Exchange Rates System

New Delhi, Jun 27 (PTI) The Central Board of Indirect Taxes and Customs (CBIC) on Thursday said it will launch on July 4 the automated system of publishing currency exchange rates. The online Exchange Rate Automation Module (ERAM) system will replace the existing manual process of notifying...

27 Jun, 2024

India Imposes Anti-Dumping Duties on Chinese Products

New Delhi, Jun 27 (PTI) India on Thursday imposed anti-dumping duties on three Chinese products including hydraulic rock breaker with an aim to protect domestic players from cheap imports. These duties were imposed following a recommendation by the commerce ministry's directorate general of...

27 Jun, 2024

Sebi Allows Fixed Price Delisting for Companies

New Delhi, Jun 27 (PTI) Markets regulator Sebi on Thursday decided to allow companies to delist through a fixed price mechanism instead of the existing reverse book-building process in a bid to facilitate ease of doing business for listed firms. Currently, the delisting process of a company from...

27 Jun, 2024

UP Economy Ranks 2nd, Top Job Provider: CM

Lucknow, Jun 27 (PTI) Uttar Pradesh has improved its rank from sixth place in 2017 to become second in the country's economy and topped in providing jobs in the past seven years, Chief Minister Yogi Adityanath said on Thursday. The state has more than 90 lakh micro, small and medium...

27 Jun, 2024

Kerala Seeks Special Package, Higher Borrowings From Centre

New Delhi, Jun 27 (PTI) Kerala Finance Minister KN Balagopal on Thursday met Union Finance Minister Nirmala Sitharaman and made various demands, including a special package and allowing higher borrowings for the state. A detailed memorandum about the state's demands was submitted to...

27 Jun, 2024

BHEL Wins Rs 13,300 Cr Order for 1600 MW Thermal Power Plant

New Delhi, Jun 27 (PTI) State-owned engineering firm BHEL has bagged the Rs 13,300 crore order to set up a 1600 MW thermal power plant in Koderma in Jharkhand from Damodar Valley Corporation (DVC). Commensurate with the goal of the central government to ensure the energy security of the...

27 Jun, 2024

RRB Merger: Bank Unions Urge Finance Minister to Integrate with Sponsor Banks

New Delhi, Jun 27 (PTI) Two bank unions -- AIBOC and AIBEA -- have demanded the merger of Regional Rural Banks (RRBs) with their respective Sponsor Banks to ensure overall efficiency and viability of the banking sector. It is imperative that for ensuring the desired level of operational...

27 Jun, 2024

JSW Infrastructure Acquires Navkar Corp Stake for Rs 1,012 cr

New Delhi, Jun 27 (PTI) JSW Infrastructure on Thursday said it will acquire 70.37 per cent shareholding in Navkar Corporation for around Rs 1,012 crore, paving the way for its foray into the logistics industry. The company has entered into a share purchase agreement with certain promoters and...

27 Jun, 2024

Foxconn Hiring Practices: Unions Investigate Married Women Exclusion

Chennai, Jun 27 (PTI) Employee unions at the Apple iPhone manufacturing unit of Foxconn India here said they are engaged in collection of details of recruitment exercise, after media reports emerged that married women were not hired by the Taiwan-based firm. According to employee trade...

27 Jun, 2024

RBI Warns of Risks in Derivatives Trading for Retail Investors

Mumbai, Jun 27 (PTI) The rapid rise in Futures and Options (F&O) trade volumes in recent years could pose several challenges as retail investors not following proper risk management could be impacted by sudden movements in markets, said a Reserve Bank report. The equity derivatives segment...

27 Jun, 2024

Regional Rural Banks Choose NPST SuperApp for Digital Transformation

New Delhi, Jun 27 (PTI) Two regional rural banks -- Kerala Gramin Bank and Karnataka Gramin Bank -- have selected NPST banking superapp to support their digital transformation, according to a release. According to the release, the 'NPST Superapp' will enable banks to drive digital...

27 Jun, 2024

Sebi Tightens Derivative Trading Norms

New Delhi, Jun 27 (PTI) Capital markets regulator Sebi on Thursday approved stricter norms for the entry and exit of individual stocks in the derivatives segment and set up an expert group to look into the Futures & Option (F&O) category. The committee will look into the three...

27 Jun, 2024

West Bengal Targets Rs 1.53 Lakh Crore MSME Loans in FY'25

Kolkata, Jun 27 (PTI) The West Bengal government has set a target of providing Rs 1.53 lakh crore as bank loans to the MSME sector in the current fiscal, a rise of 5.5 per cent over the year-earlier figure, officials said. In the 2023-24 fiscal, the state's MSME sector received Rs 1.45 lakh...

27 Jun, 2024

Raymond Shareholders Reappoint Gautam Singhania as MD

New Delhi, Jun 27 (PTI) Textiles and fabric manufacturer Raymond Ltd on Thursday said its shareholders have approved the reappointment of Gautam Hari Singhania as Managing Director for five years effective from July 1, 2024, along with his proposed remuneration. The shareholders of the...

27 Jun, 2024

RBI Announces SAARC Currency Swap Framework 2024-27

Mumbai, Jun 27 (PTI) The Reserve Bank on Thursday introduced a Rs 25,000 crore separate INR Swap Window with various concessions for swap support in Indian Rupee for SAARC countries. The RBI will continue to offer swap arrangements in USD and Euro under a separate US Dollar/Euro Swap Window...

27 Jun, 2024

Fairfax Group Sells 9.7% Stake in CSB Bank for Rs 595 Crore

New Delhi, Jun 27 (PTI) Canadian billionaire Prem Watsa's Fairfax Group on Thursday divested a 9.7 per cent stake in CSB Bank for Rs 595 crore through an open market transaction. FIH Mauritius Investments, an arm of Toronto-based Fairfax Group, offloaded over 1.68 crore shares of CSB Bank...

27 Jun, 2024

Tata Group Retains Top Spot in Brand Finance India Report 2024

New Delhi, June 27 (PTI) Tata Group has retained its position as India's most valuable brand, according to the latest report from Brand Finance. The salt-to-software group is followed by IT major Infosys and HDFC Group, which have been ranked second and third respectively in the report of the...

27 Jun, 2024

New Criminal Laws: Wide Consultations Held Before Enactment - Meghwal

New Delhi, Jun 27 (PTI) Law minister Arjun Ram Meghwal on Thursday said detailed discussions were held, including deliberations by a parliamentary standing committee, before enactment of the three new criminal laws, amid demands by certain opposition leaders to defer their implementation beyond...

27 Jun, 2024

Suntory Sets Up Indian Subsidiary for Business Expansion

New Delhi, Jun 27 (PTI) Japanese multinational brewing and distilling company Suntory on Thursday said it has set up an Indian subsidiary to accelerate its business in the country. The new company -- Suntory India -- will commence operations in July and will be headed by Managing Director...

27 Jun, 2024

India's Economic Growth Sustained by Low Bad Loans: RBI Report

Mumbai, Jun 27 (PTI) The decline in bad assets of banks to a 12-year low of 2.8 per cent and strong GDP numbers will help in sustaining the growth momentum and withstanding global shocks, said the Reserve Bank's Financial Stability Report (FSR) released on Thursday. The real gross domestic...

27 Jun, 2024

G Srinivasa Raghavan: New Chairman of NEXUS Automotive

Chennai, Jun 27 (PTI) The Chief Executive Officer and Global President of TVS Mobility, G Srinivasa Raghavan has been appointed as the Chairman of the Board of Directors, NEXUS Automotive International. NEXUS is a global automotive aftermarket community comprising over 468 distributor members,...

27 Jun, 2024

Sebi Approves Norms for FinFinfluencers: Regulating Unregistered Financial Influencers

Mumbai, Jun 27 (PTI) Capital markets regulator Sebi on Thursday approved norms to regulate unregistered financial influencers, also referred as finfluencers. The move comes amid growing concern over the potential risks associated with unregulated finfluencers who might offer biased or...

27 Jun, 2024

MSMEs & AI: Potential vs. Reality | Report

New Delhi, Jun 27 (PTI) MSMEs across India have exuded confidence in AI's potential to increase their productivity and performance, however lack of awareness, accessibility, and affordability draws a divide between conviction and adoption, a report has revealed. Marking World MSME Day,...

27 Jun, 2024

US Jobless Claims Fall, Benefits Rise to 2021 High

Washington, Jun 27 (AP) Fewer people applied for unemployment benefits last week but the total number of Americans collecting jobless benefits rose to the highest level in more than two years. The Labor Department reported Thursday that jobless claims for the week ending June 22 fell by 6,000...

27 Jun, 2024

Indian Pharma Exports: $10 Billion Opportunity in Off-Patent Drugs by 2029

Hyderabad, Jun 27 (PTI) As many as 15 blockbuster drugs whose revenues worth USD 112 billion will be off-patented during 2023 to 2029 and the Indian pharma industry will have a growth opportunity of USD 10 billion in the form of generics (including complex), a top official of Pharmaceuticals...

27 Jun, 2024

CtrlS Datacenters Plans Rs 28,000 Crore Capex by 2029

Kolkata, Jun 27 (PTI) Data centre operator CtrlS Datacenters Ltd will invest Rs 24,000-28,000 crore by 2029 as part of its capital expenditure plan to expand capacity by 600-700 MW of IT load incrementally from existing 253 MW with 15 data centres across eight cities, a company official said....

27 Jun, 2024

Aamir Khan Buys Mumbai Apartment for Rs 10cr - Pali Hill

New Delhi, June 27 (PTI) Bollywood actor Aamir Khan has bought an apartment in a upscale residential building at Pali Hills in Bandra West, Mumbai for nearly Rs 10 crore. According to property registration documents accessed and analyzed by real estate consultant SquareYards.com, Khan has...

27 Jun, 2024

Allied Blenders' IPO Over-Subscribed 23.49 Times

New Delhi, Jun 27 (PTI) The initial public offer of Allied Blenders and Distillers, the maker of Officer's Choice Whisky, garnered 23.49 times subscription on the final day of bidding on Thursday. The Rs 1,500-crore initial share sale received bids for 92,49,01,092 shares against 3,93,71,669...

27 Jun, 2024

Himachal Tourism Development: PPP & ADB Project

Shimla, June 27 (PTI) Himachal Pradesh government is taking effective steps to develop sustainable tourism infrastructure in the state in association with the private sector on public-private partnership (PPP) mode, Himachal Pradesh Tourism Development Corporation (HPTDC) Chairman R S Bali said....

27 Jun, 2024

Brigade Enterprises Launches Rs 1,100 Cr Housing Project in Bengaluru

Bengaluru, Jun 27 (PTI) Realty firm Brigade Enterprises on Thursday said it has launched a new housing project with a revenue potential of Rs 1,100 crore. The project 'Brigade Insignia' is located at Yelahanka, Bengaluru, and comprises 379 units. "The project has a revenue potential of Rs...

27 Jun, 2024

Jio Raises Mobile Rates by 12-27% from July 3

New Delhi, Jun 27 (PTI) The country's top telecom operator Jio will increase mobile services rates by 12-27 per cent from July 3, according to a company statement. This is the first hike in mobile services rates by Jio after a gap of about two-and-a-half years. "The introduction of new plans...

27 Jun, 2024

Indian Airport Pricing Strategies & Profitability | CAPA India

New Delhi, Jun 27 (PTI) Indian airports need to review their pricing strategies and can substantially increase their profitability by garnering more non-aeronautical revenues, according to aviation consultancy firm CAPA India. India is the world's third largest domestic civil aviation market...

27 Jun, 2024

EU Court Upholds Fine on Ipca Subsidiaries

New Delhi, Jun 27 (PTI) Ipca Laboratories Ltd on Thursday said a European Union court has upheld a fine of EUR 13.96 million (approximately Rs 125.62 crore) collectively on its arm Unichem Laboratories and step-down subsidiary Niche Generics over a patent dispute settlement agreement. The...

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