SEBI disposes co-location case against NSE, seven ex-executives due to insufficient evidence
Sep 14, 2024, at 06:07 pm
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI), the regulatory body for securities and commodity market in the country, has closed its proceedings against the National Stock Exchange (NSE), along with former executives Ravi Narain, Chitra Ramkrishna, Anand Subramanian, and others, regarding the exchange's co-location services.
Max Healthcare acquires 64% stake in Jaypee Healthcare
Sep 14, 2024, at 07:14 am
Mumbai: Max Healthcare Institute Ltd.’s board has approved a strategic partnership with the Lakshdeep Group, promoters of Jaypee Healthcare Ltd. (JHL), by facilitating the repayment of JHL’s financial debts, media reports said.
GQG Partners raises stake in Patanjali Foods by 1.24% for Rs 835 cr
Sep 14, 2024, at 06:50 am
Mumbai: Billionaire Rajiv Jain-backed GQG Partners increased its stake in Patanjali Foods by acquiring a 1.24% holding from promoter group entity Patanjali Ayurved Ltd for approximately Rs 835 crore in an open market transaction on Friday, media reports said.
Food delivery platform Zomato partners with IRCTC to provide food on train
Sep 14, 2024, at 05:36 am
Mumbai: Food delivery platform Zomato has partnered with the Indian Railway Catering and Tourism Corporation (IRCTC) to launch its new service, 'Zomato - Food Delivery in Trains', media reports said.
Centre lifts minimum price limit on onion export
Sep 14, 2024, at 04:22 am
New Delhi: The Centre has removed the minimum price limit for onion export to boost the earnings of Indian farmers and push exports.
Sep 14, 2024, at 04:18 am
New Delhi: Maruti Suzuki India Ltd maintained its lead, with production rising to 1,65,782 units in August 2024 and cumulative production reaching 8,35,842 units from April to August, according to a SIAM report.
Mahindra & Mahindra Financial Services to enter mortgage business
Sep 14, 2024, at 03:55 am
Mumbai: Mahindra & Mahindra Financial Services is all set to enter the mortgage business with its board greenlighting the new venture, media reports said.
Passenger Vehicle sales rise 1.6%; two-wheeler sales up 9.3% in Aug: SIAM report
Sep 14, 2024, at 03:43 am
New Delhi: The automobile sector showed mixed growth pattern across various segments of the automotive sector in India, according to the August 2024 report releasedby Society of Indian Automobile Manufacturers (SIAM).
TCS India employees receive tax demand notices from IT dept, company asks them to wait
Sep 13, 2024, at 09:47 pm
Mumbai/IBNS: Employees of Indian multinational information technology (IT) company, Tata Consultancy Services (TCS), have recently received income-tax demands ranging from Rs 50,000 to Rs 1.45 lakh, The Economic Times reported, citing its sources familiar with the matter.
Sep 13, 2024, at 09:11 pm
Ahmedabad/IBNS: Indian multinational conglomerate Adani Group has dismissed and denied "baseless allegations" regarding reports of funds being frozen in Swiss bank accounts.
Ford confirms India re-entry plans, Chennai plant to reopen after 2 years
Sep 13, 2024, at 08:16 pm
Bengaluru/IBNS: American multinational automobile manufacturer Ford Motor on Friday (Sept. 13) announced plans to restart a manufacturing facility in Tamil Nadu, potentially re-entering the Indian market it exited three years ago, according to a report by Reuters.
Sep 13, 2024, at 07:44 pm
Singapore/IBNS: Even as consumer price index (CPI) inflation has softened to the 2-6 percent tolerance band, there is still a ‘distance to cover’, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday (Sept. 13), signaling the central bank is in no hurry to cut interest rates despite the inflation dip in the world’s fastest-growing major economy.
August retail inflation at 3.65%, below RBI's 4% target
Sep 13, 2024, at 04:03 am
New Delhi: India’s retail inflation rose to 3.65% on an annual basis, up from a five-year low of 3.54%, according to government data released on Thursday.
Sep 12, 2024, at 11:34 pm
Tata Power EV Charging Solutions Limited, a EV Charging solutions providers and a subsidiary of Tata Power Renewable Energy Limited (a subsidiary of Tata Power), on Thursday announced the signing of a Memorandum of Understanding (MoU) with Tata Motors Limited (Tata Motors) to set up 200 fast-charging stations for electric commercial vehicles (CV) in all metros cities in India inluding Kolkata and Mumbai.
India's retail inflation eases to 3.65 pct in August in comparison to 6.83 pct registered a year ago
Sep 12, 2024, at 11:28 pm
India's retail inflation in August touched 3.65 percent as compared to 6.83 percent which was recorded during the same period last year.
Rapido inaugurates new office in Bengaluru
Sep 12, 2024, at 10:42 pm
Ride-hailing platform Rapido has inaugurated its new 40,554 sq. ft. corporate head-office in Bellandur (Bengaluru).
HDFC Bank negotiates with global lenders to offload $1 billion in loans
Sep 12, 2024, at 09:02 pm
Mumbai/IBNS: India's largest private sector lender, HDFC Bank, is negotiating with major global banks to offload loans totaling up to Rs 8,400 crore ($1 billion) as part of its strategy to reduce the size of its credit portfolio and improve its credit-to-deposit ratio, reports Bloomberg, citing its sources.
PwC US to fire 1800 jobs in first restructuring measure in 15 years
Sep 12, 2024, at 08:49 pm
Multinational professional service brand PricewaterhouseCoopers’s U.S. unit will lay off about 1,800 workers, media reports said.
YES Bank's stake sale stalled due to RBI's concerns over majority foreign bank ownership
Sep 12, 2024, at 08:36 pm
Mumbai/IBNS: The stake sale of Indian private sector bank YES Bank is currently stalled as the Reserve Bank of India (RBI) is hesitant about allowing majority foreign bank ownership, reports Moneycontrol, citing sources familiar with the matter.
SEBI mulls new regulations to curb risks amid surge in small IPOs
Sep 12, 2024, at 08:06 pm
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI), the regulatory body for securities and commodity market in the country, is contemplating stricter oversight for micro-cap firms going public, which includes enhanced monitoring of how their funds are used and tougher due diligence requirements for merchant bankers, the Economic Times reported, citing a source involved in the discussions who requested anonymity due to the confidential and sensitive nature of the information.
Paytm to focus on core business, deliver profitability soon: CEO Vijay Shekhar Sharma at AGM
Sep 12, 2024, at 08:02 pm
New Delhi/IBNS: Vijay Shekhar Sharma, the founder and chief executive officer (CEO) of Paytm, on Thursday (Sept. 12) said the fintech company will focus on its core business of payments and cross-selling financial services as it works to achieve "profitability soon".
Sep 12, 2024, at 06:33 am
New Delhi: Union Cabinet approved the fourth phase of the Pradhan Mantri Gram Sadak Yojana (PMGSY) on Wednesday which will be implemented from 2024-25 to 2028-29, with a budget allocation of Rs 70,125 crore.
Union Cabinet approves PM E-Drive Scheme with Rs 10,900 cr budget
Sep 12, 2024, at 06:05 am
New Delhi: The Union Cabinet has approved the PM E-Drive Scheme with a budget of Rs 10,900 crore over two years to promote the adoption of electric vehicles (EVs) in India.
Microsoft India buys plot in Pune's Hinjawadi for Rs 520 cr
Sep 12, 2024, at 04:20 am
Pune: Microsoft Corporation (India) Pvt Ltd, the Indian arm of the software giant, has acquired a 16.4-acre land parcel in Pune's tech-centric Hinjawadi suburb for approximately Rs 520 crore, according to documents reviewed by Square Yards, media reports said.
India extends countervailing duty on welded stainless steel pipes and tubes from China and Vietnam
Sep 12, 2024, at 04:13 am
New Delhi: The Indian government has extended the countervailing duty on imports of welded stainless steel pipes and tubes from China and Vietnam for another five years, media reports said, citing a Union Finance Ministry order on Wednesday.
Semicon India 2024: PM Modi aims for India’s electronics sector to reach $500 billion by 2030
Sep 11, 2024, at 11:11 pm
Noida (UP): Prime Minister Narendra Modi has set a target of expanding India's electronics sector to $500 billion by the end of the decade.
Sep 11, 2024, at 11:08 pm
Noida: Prime Minister Narendra Modi stated on Wednesday that India aims to become a global hub for producing, using, and exporting green hydrogen.
Uber launches premium 'black' service in India
Sep 11, 2024, at 08:34 pm
India's leading ride-sharing app Uber has announced the launch of its upscale Uber Black category.
Strike hits Samsung production at key electronics plant in Tamil Nadu
Sep 11, 2024, at 07:46 pm
Chennai/IBNS: Production at Samsung Electronics' key plant in southern India faced disruptions for the second consecutive day on Tuesday (Sept. 10) due to a strike by hundreds of employees demanding higher wages.
Google, Apple lose multibillion dollar court fights with European Union
Sep 11, 2024, at 07:12 pm
Luxembourg/IBNS: Apple Inc. has lost its legal battle over a €13 billion ($14.4 billion) Irish tax bill, while Google has lost its challenge against a €2.4 billion fine for abusing its market power, reports Bloomberg.