Adani Enterprises to raise Rs 16,600 cr via QIP route
Mumbai: The board of Adani Enterprises has approved a plan to raise Rs 16,600 crore through the Qualified Institutional Placement (QIP) route, as announced in an exchange filing on Tuesday.
Finance
Centre saved over Rs 25,500 cr via TSA and SNA bank accounts
New Delhi: The government has saved over Rs 25,500 crore through the treasury savings account (TSA) and single nodal agency (SNA) bank accounts, Finance Minister Nirmala Sitharaman announced on Monday.
RBI imposes Rs. 1 crore penalty on ICICI Bank, fines Yes Bank Rs. 91 lakhs for non-compliance
Reserve Bank of India has fined private lenders Yes Bank and ICICI Bank over non-compliance.
Hyundai Motor India IPO: Auto major adds Kotak, Morgan Stanley as advisors for possible record India IPO
Mumbai/IBNS: Hyundai Motor Co has also picked major investment banks Kotak Mahindra Capital and Morgan Stanley as its advisors for initial public offering (IPO) of its arm Hyundai Motor India Limited on the domestic bourses, reports said.
Reliance partnering up with Tech Mahindra and Nokia to offer 4G/5G network support in Ghana: Reports
Mumbai/IBNS: After touching new heights with 5G network infrastructure in India, Mukesh Ambani, the chairperson of Reliance Industries -- India's most valuable company with a market cap of more than Rs 1989000 crore, is now planning to take his giant-killer telecom playbook to Africa and other continents.
Oil prices rise over 1% ahead of inflation data after downbeat week
Houston/IBNS: The prices of crude oil rose over 1 percent in muted trade owing to public holidays in Britain and the United States after a downbeat week characterised by the outlook for US interest rates in the face of sticky inflation, reports said.
Post office's Mahila Samman Saving Certificate scheme: Women will get Rs 2.32 lakh in just two years
New Delhi/IBNS: The Government of India has been running many schemes to help the people of the country, especially the women, youth and senior citizens, and most of the government schemes are being operated from the post office.
India's GDP growth for Q4FY24 anticipated at 6.1-6.7%, lower than the plus-8% of previous three quarters: Report
New Delhi/IBNS: India's Gross Domestic Product (GDP) in the fourth quarter of the financial year 2023-24 is projected to have grown between 6.1 percent and 6.7 percent, a decline from the over 8 percent growth rate noticed in the previous three quarters, reports said.
BSE Sensex touches landmark 76,000-mark for first time
The BSE benchmark Sensex moved up to touch the landmark 76,000-mark for the first time on Monday.
GAIL installs Green Hydrogen Plant in Madhya Pradesh
Marking a major step towards foraying into new and alternate energy and in line with the National Green Hydrogen Mission, GAIL (India) Limited has installed its first Green Hydrogen Plant at GAIL Vijaipur in Madhya Pradesh.
SEBI cracks down on gaming apps offering virtual trading services, fantasy games
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI) is cracking down on gaming apps offering virtual trading services and fantasy games based on the movement of real-time share prices of listed companies, which have mushroomed over the past few years in the wake of high retail investor appetite for stock trading, reports said.
Mukesh Ambani sets sight on Africa with new 'affordable' telecom venture in Ghana: Report
Mumbai/IBNS: Mukesh Ambani, the chairman and managing director of Reliance Industries, is taking his giant-killer telecom playbook to Africa as the billionaire seeks to focus on mobile broadband customers in the continent.
FPIs pull out net outflow of Rs 22,047 cr from equities in May amid election uncertainty
Mumbai/IBNS: Foreign investors have taken out a massive Rs 22,000 crore from Indian equities so far in May, due to uncertainty surrounding the results of the Lok Sabha polls and outperformance of Chinese markets, reports said.
Fintech unicorns BharatPe Group and PhonePe resolve all legal disputes over trademark suffix 'Pe'
Mumbai: Fintech unicorns BharatPe Group and PhonePe Group have reached a mutually agreeable resolution for all long standing legal disputes in connection with the use of the trademark suffix 'Pe', the companies said in a joint statement, according to media reports.
Maldives may introduce India's RuPay service amid recent diplomatic row
Maldives may soon introduce India's RuPay service, a senior minister of the country said recently.
Maldives may introduce India's RuPay service amid recent diplomatic row
Maldives may soon introduce India's RuPay service, a senior minister of the country said recently.
Normal monsoon, stable food prices will firewall India 'against any adverse pressures', says finance ministry review
New Delhi/IBNS: The Indian Ministry of Finance on Friday exuded confidence about the country's economic resilience, amid global conflicts and commodity price spikes, reports said.
Flipkart closes $950 mn round with Sundar Pichai-led Google's $350 mn investment at $36 bn valuation
Bengaluru/IBNS: American tech titan Google has invested around $350 million in Indian e-commerce giant Flipkart's $950 million round at a valuation of $36 billion, reports said.
Bernstein predicts decline in business sentiment, drastic impact on Infra if Congress-led INDIA bloc forms govt at Centre
New Delhi/IBNS: Bernstein Research, in its latest India Strategy report, said a tally of around 330-350 seats for the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) government in the ongoing Lok Sabha elections could trigger a short-term rally in stock markets with the benchmark Nifty index breaching the 23,000-mark post-elections.
Global Impact Sourcing Award for Talent assessment firm HireMee by IAOP
Bengaluru: Talent assessment platform HireMee enables equal access to opportunities for small town youth in India by connecting them with employers in pursuit of its vision of India where no talent is unemployed or underemployed’ won the Global Impact Sourcing Award (GISA) from IAOP, the premier global organization dedicated to shaping the future of business.
Hindalco Industries Q4FY24 PAT grows 32% to Rs 3,174 cr
Mumbai: Hindalco Industries reported a 31.6 percent year-on-year increase in consolidated net profit for the March quarter, reaching Rs 3,174 crore compared to Rs 2,411 crore a year ago. This growth was driven by robust sales and lower input costs across its business segments.
Torrent Pharmaceuticals Q4FY24 PAT grows 57% to Rs 449 cr
Mumbai: Torrent Pharmaceuticals Ltd reported a 57 percent increase in its consolidated net profit for the March quarter, reaching Rs 449 crore compared to Rs 287 crore in the same period last year, media reported.
Adani Ports to replace Wipro in BSE Sensex in June 24
Mumbai: Adani Ports and Special Economic Zone Ltd (APSEZ) will replace Wipro Ltd in the 30-stock blue-chip S&P BSE Sensex starting June 24, according to an announcement made by the index operator on Friday, reported Reuters.
Cochin Shipyard Ltd Q4FY24 PAT jumps Rs 258.88 cr
New Delhi: State-owned Cochin Shipyard Ltd reported an impressive increase in its consolidated net profit, reaching Rs 258.88 crore for the March 2024 quarter, driven by higher income.
India's foreign exchange reserves shoot by $4.549 bn to a record $648.7 bn
New Delhi: India's foreign exchange reserves surged by $4.549 billion to a record high of $648.7 billion for the week ending May 17, according to the Reserve Bank's announcement on Friday.
Senco Gold Q4FY24 PAT grows 23.6% YoY to Rs. 32.17 cr; revenue grows 39.7%
Kolkata: Jewellery retailer Senco Gold Limited reported a Profit After Tax (PAT) of Rs. 32.17 crore, marking a 23.6% increase year-on-year (YoY) from Rs. 26.03 crore in Q4 FY23.
Flipkart to add Google as an investor in its latest funding round
As part of the latest funding round led by Walmart, Flipkart on Friday announced that it will be adding Google as a minority investor, subject to receipt of regulatory and other customary approvals by both parties.
Jio Financial Services plans Rs 36,000 cr deal with Reliance Retail: Report
Mumbai: Jio Financial Services (JFS) is seeking shareholder approval for its subsidiary to acquire equipment worth Rs 36,000 crore from Reliance Industries' retail division as part of its plan to enter the device leasing market, according to a postal ballot notice, reported Reuters.
Rajiv Jain’s GQG sees 150% growth in Adani investments, reaching $10 billion: Report
Mumbai: Chairman and Chief Investment Officer of GQG Partners Rajiv Jain has witnessed a substantial 150 percent growth in his investments in the Adani Group over the past year, according to a Moneycontrol report.
Jaguar Land Rover to make iconic Range Rover models in India; prices likely to come down
Mumbai: Jaguar Land Rover has said it will start assembling the iconic Range Rover models at the Pune plant in India, marking the first time this process will occur outside of the UK.