India keen on more American tie ups in defence space: Defence Min Rajnath Singh
Aug 24, 2024, at 06:58 pm
Washington DC/IBNS: Defence Minister Rajnath Singh on Friday (August 23) told American industry leaders at a roundtable in Washington DC that India is keen to invite more US investment and technology collaborations in the defence space.
Axio secures $20 million funding from Amazon Smbhav Venture Fund
Aug 24, 2024, at 06:22 am
New Delhi: Axio secured $20 million in equity funding from the Amazon Smbhav Venture Fund on Friday, as the digital consumer finance startup seeks to expand its lending capabilities and introduce additional credit products.
GQG Partners acquires 0.69% stake in Ambuja Cement with 1.71 cr share purchase
Aug 24, 2024, at 05:21 am
Mumbai: GQG Partners Emerging Markets Equity Fund acquired 1.71 crore shares on Friday, a 0.69% stake in Ambuja Cement Ltd., for Rs 625.5 per share through a bulk deal.
Religare confirms ED raids on its senior officials
Aug 24, 2024, at 04:03 am
Mumbai: Financial services provider Religare on Friday confirmed that the Enforcement Directorate (ED) had conducted raids at the residences of its senior officials on August 21, 2024, the Economic Times Reported.
Goldman Sachs cuts India's growth forecast by 20 basis points
Aug 24, 2024, at 03:18 am
Mumbai: Goldman Sachs Group Inc. has slashed India's growth forecast for this year and the next by 20 basis points, citing a reduction in central government spending, Bloomberg reported.
Stocks of Nykaa's parent company jump 6.5% after reports of likely block deal
Aug 23, 2024, at 11:50 pm
Mumbai: Nearly 4.09 crore shares, representing a 1.43 percent stake in Nykaa's parent company, FSN E-commerce, were traded in a block deal, with pre-IPO investor Harindarpal Singh Banga likely being the seller, Moneycontrol reported.
CDSL shares gain more than 12% after stock trades 1:1 ex-bonus
Aug 23, 2024, at 09:15 pm
Mumbai/IBNS: The Central Depository Services (India) Ltd (CDSL) shares are trading ex-bonus in today's trading session as the bonus issue by the company took effect today.
Govt to appoint new external members to RBI MPC ahead of crucial rate meeting in October: Report
Aug 23, 2024, at 09:09 pm
New Delhi/IBNS: The Government of India will appoint new external members to the Reserve Bank of India’s (RBI) monetary policy committee (MPC) by October at the latest ahead of a crucial meeting in which the MPC will face pressure to cut interest rates, Bloomberg reports, citing people familiar with the matter.
SEBI imposes 5-year ban on Anil Ambani, 24 others from participating in securities market
Aug 23, 2024, at 08:01 pm
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI) — the regulatory body for securities and commodity market in the country — has imposed a five-year ban on industrialist and Reliance Group's managing director (MD) Anil Ambani and 24 other parties, including former senior executives of Reliance Home Finance, from participating in the securities market.
2.76% equity of Ambuja Cements changes hands at Rs 625.5 per share
Aug 23, 2024, at 06:50 pm
Mumbai/IBNS: As many as 6.8 crore shares, or 2.76 percent equity, of Indian cement production major Ambuja Cements changed hands in the block deal window on Friday (August 23), reports said.
Dabur signs MoU with Tamil Nadu govt to invest Rs 400 cr in first production unit in South India
Aug 22, 2024, at 08:19 pm
New Delhi/Chennai/IBNS: India's home-grown FMCG major Dabur plans to start its first manufacturing unit in South India by investing Rs 400 crore in the next five years.
Punjab’s industrial growth strategy wins praise from leading business tycoons
Aug 22, 2024, at 08:12 pm
In a notable display of endorsement, prominent business leaders today commended Punjab’s industrial-friendly policies and pledged full support to enhance the state’s economic growth trajectory.
Amul globally rated as strongest food and dairy brand
Aug 22, 2024, at 07:39 pm
India's Amul has been recognised as the strongest food and dairy brand globally, as per the Brand Finance Food & Drink 2024 report.
Rajesh Nambiar resigns as Cognizant's India CMD, appointed as Nasscom president
Aug 22, 2024, at 07:17 pm
New Delhi/IBNS: Cognizant Technology Solutions Corp’s India chairman and managing director (CMD) Rajesh Nambiar has resigned from his post to become president of information technology (IT) industry body National Association of Software and Service Companies (Nasscom).
India's private sector activity slips slightly in August, shows HSBC Flash PMI
Aug 22, 2024, at 06:18 pm
Mumbai/IBNS: India's private sector activity slipped to a three-month low of 60.5 in August from 60.7 a month back, according to preliminary data released on Thursday (August 22).
India sole Asia-Pacific market with double-digit growth in FMCG and tech durables: Report
Aug 22, 2024, at 04:28 am
A report by consumer research firm NielsenIQ (NIQ) highlights India's dominant position as the only market in the Asia-Pacific region consistently achieving double-digit growth in the FMCG, and tech and consumer durables (T&D) sectors, media reports said.
Coal India looking to acquire critical minerals in India and abroad
Aug 22, 2024, at 04:20 am
Kolkata: Coal India Limited (CIL) has intensified efforts to acquire critical minerals, including lithium, both in the domestic market and abroad, and will continue participating in the auction of such mineral blocks, according to the chairman of the world's largest coal producer on August 21, media reports said.
SEBI slaps Rs 11 lakh fine on IIFL Securities for violation of its rules
Aug 22, 2024, at 03:41 am
Mumbai: The capital markets regulator has imposed a fine of Rs 11 lakh on IIFL Securities for violating various circulars and provisions under the Securities Contracts (Regulations) Rules, including borrowing funds from clients, media reports said.
GST Intelligence uncovers tax evasion worth Rs 1.2 trillion since 2020
Aug 22, 2024, at 03:13 am
New Delhi: The Directorate General of GST Intelligence (DGGI) has uncovered tax evasion amounting to Rs 1.2 trillion through the use of fake input tax credits (ITC) from 2020 to the present, with a focus on identifying and apprehending the masterminds behind these operations and dismantling the syndicates operating across the country, the finance ministry said in a release on Tuesday.
Job creation in corporate sector slows in FY24 to 1.5%
Aug 22, 2024, at 02:37 am
Mumbai: Employment growth in the corporate sector decelerated to 1.5 percent in FY24 from 5.7 percent in FY23, with only 90,840 new jobs created, compared to 3,33,000 in the previous fiscal year, according to a report released by Bank of Baroda on Wednesday.
'Matter of concern': Commerce Minister Piyush Goyal slams 'predatory pricing' by e-commerce giants
Aug 22, 2024, at 01:21 am
New Delhi: The “predatory pricing” by big e-commerce players is a matter of concern and may cause employment loss in traditional retail, according to Commerce and Industry Minister Piyush Goyal on Wednesday.
Aug 21, 2024, at 10:14 pm
New Delhi/IBNS: Ruchir Sharma, the chairman of Rockefeller International, said it may not be mathematically possible for India to become a developed country by 2047 with an annual Gross Domestic Product (GDP) growth rate of 6 percent.
Swiggy to file draft papers for $1.3 billion IPO by first week of September: Report
Aug 21, 2024, at 09:26 pm
Bengaluru/IBNS: Bengaluru-based online food ordering-delivery and quick commerce platform Swiggy, one of India’s most-valued unicorns, will most likely file its draft red herring prospectus with the country’s markets regulator Securities and Exchange Board of India (SEBI) by as early as the first week of September, marking the second-largest Initial Public Offering (IPO) of a venture capital-backed company in India, reports YourStory.
Aug 21, 2024, at 07:25 pm
Mumbai/IBNS: Global technology majors are pushing back against attempts by India’s telecom companies to bring internet services under stricter regulation, rejecting arguments that such measures are necessary to create a “level playing field” and address national security concerns, reports TechCrunch.
P2P lending industry stares at muted growth post RBI crackdown
Aug 21, 2024, at 06:25 pm
New Delhi/IBNS: The Peer-to-Peer (P2P) lending industry is staring at a potential decline in new investments and subdued growth following the tightening of regulations by the Reserve Bank of India (RBI), according to Financial Express.
Infosys set to earn over $100 million in Coca Cola-Microsoft cloud deal
Aug 21, 2024, at 06:50 am
Bengaluru: Infosys is set to earn over $100 million as a key partner in a $1.1 billion cloud migration deal between Coca-Cola and Microsoft, according to an Economic Times report.
JSW Cement targets to double cement grinding capacity to 41 MTPA
Aug 21, 2024, at 06:45 am
Mumbai: JSW Cement Ltd plans to more than double its cement grinding capacity in India, increasing it from the current 20.60 million tonnes per annum (mtpa) to nearly 41 mtpa, as stated in its draft initial share sale documents.
Reliance, Disney merger will hurt competition, CCI warns
Aug 21, 2024, at 06:01 am
New Delhi: The Competition Commission of India (CCI) has made an initial assessment that the $8.5 billion merger between Reliance and Walt Disney’s media assets could harm competition, particularly due to their control over cricket broadcast rights, Reuters reported on Tuesday.
Aug 21, 2024, at 05:29 am
Gandhinagar: Indian regulators have halted the approval of local family offices setting up investment funds in the country's new financial hub, due to concerns that these structures might be used to bypass taxes and capital controls, Bloomberg reported citing sources.
RBI Governor warns banks against growing gap between credit and deposit growth
Aug 21, 2024, at 04:36 am
Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das cautioned on Tuesday that Indian banks must closely monitor the widening gap between credit and deposit growth to prevent a potential structural liquidity issue.