Supreme Court slams NCLAT for closing Byju's insolvency case after settlement with BCCI
Sep 26, 2024, at 06:27 am
New Delhi: The Supreme Court on Wednesday raised concerns over the National Company Law Appellate Tribunal’s (NCLAT) decision to close insolvency proceedings against ed-tech giant Byju’s following its approval of a Rs 158.9 crore settlement with the Board of Control for Cricket in India (BCCI), according to a media report.
Sitharaman urges AIIB to focus on client-centric approach, support low-income countries
Sep 26, 2024, at 05:52 am
New Delhi: Finance Minister Nirmala Sitharaman on Wednesday called on the Asian Infrastructure Investment Bank (AIIB) to maintain a client-centric approach and assist member countries, particularly low-income nations, in accessing financial resources through technical assistance, media reports said.
Bharti Airtel launches AI-based solution to detect spam calls and messages
Sep 26, 2024, at 01:59 am
Mumbai: Bharti Airtel announced on Wednesday a new AI-powered network solution designed to detect spam calls and messages for its customers.
Centre extends import management system for laptops, IT hardware till Dec 31
Sep 25, 2024, at 11:32 pm
New Delhi: The central government has extended the import management system for laptops and other IT hardware products by three months, now effective until December 31, 2024.
Sep 25, 2024, at 09:03 pm
Chennai/IBNS: Foxconn is planning a $1 billion investment to establish a facility in Tamil Nadu for assembling smartphone display modules, according to a report by The Economic Times.
Tata Motors unveils Nexon iCNG and Nexon.ev 45 kWh
Sep 25, 2024, at 08:39 pm
Mumbai/IBNS: India's leading automaker Tata Motors on Tuesday (Sept. 24) announced the launch of the Nexon iCNG, and additions to the Nexon.ev range with a new 45 kWh battery pack and the flagship Red Hot #DARK edition.
Asian Development Bank retains India's 2024-25 growth forecast at 7%
Sep 25, 2024, at 08:16 pm
New Delhi/IBNS: The Asian Development Bank (ADB) has retained India's growth forecast at 7 percent for the current fiscal year (FY25), with expectations of an accelerated growth rate of 7.2 percent in FY26, according to a report released on Wednesday (Sept. 25).
Hyundai Motor India IPO gets SEBI approval, share sale likely in October: Report
Sep 25, 2024, at 07:49 pm
Mumbai/IBNS: Hyundai Motor India, a wholly-owned subsidiary of the South Korean-headquartered Hyundai Motor Company, has reportedly received approval from the Indian regulatory body for securities and commodity market, the Securities and Exchange Board of India (SEBI), to proceed with its initial public offering (IPO), reports said.
India all set to rank among the fastest-growing economies until 2030, says Goldman Sachs
Sep 25, 2024, at 07:05 pm
New Delhi/IBNS: India is on track to be one of the fastest-growing economies in the medium term, according to a recent report by international brokerage firm Goldman Sachs.
Axis Finance appoints Sai Giridhar as the MD & CEO
Sep 25, 2024, at 07:05 am
Kolkata: Axis Bank’s NBFC arm Axis Finance Limited (AFL) has appointed Sai Giridhar as the Managing Director & CEO ‘designate’, subject to regulatory approvals, a press release said on Tuesday.
UP-based Shankha Air gets govt approval to operate
Sep 25, 2024, at 05:56 am
New Delhi: India's newest airline, Shankh Air, has received approval from the Civil Aviation Ministry, in a key step towards launching its operations, media reports said.
India to help countries in Africa and South America to develop UPI-like digital payment systems
Sep 25, 2024, at 04:37 am
New Delhi: India is in talks with countries in Africa and South America to assist in developing digital payment systems based on its Unified Payments Interface (UPI), with plans for two systems to launch by early 2027, Reuters reported.
Swiggy gets SEBI nod for IPO launch
Sep 25, 2024, at 02:21 am
Mumbai: The Securities and Exchange Board of India (SEBI) has approved food delivery giant Swiggy's plan to launch an initial public offering (IPO), media reports said.
SEBI investigations reveal six investment banks charged SMEs fees equal to 15% of IPO size: Report
Sep 24, 2024, at 08:52 pm
Mumbai/IBNS: India’s securities regulator, the Securities and Exchange Board of India (SEBI), is investigating six domestic investment banks over concerns about malpractice in the country’s booming IPO market for small businesses, Reuters reported, citing two sources familiar with the matter.
Reliance Power board approves preferential issue of Rs 1,524 crore
Sep 24, 2024, at 07:18 pm
Mumbai/IBNS: Reliance Power’s board on Monday (Sept. 23) approved a plan to raise Rs 1,524.60 crore through a preferential issue of 462 million equity shares or warrants, convertible into an equivalent number of shares at Rs 33 per share or warrant, targeting promoters and other investors.
BSE Sensex, Nifty touch all-time closing high levels
Sep 23, 2024, at 10:55 pm
Riding on strong global cues, BSE Sensex remained on top for the third consecutive session on Monday, advancing 384.30 pts to close at a life time high figure of 84,928.61 pts.
PM Modi has a clear vision about how AI will benefit India: Google CEO Sundar Pichai
Sep 23, 2024, at 09:33 pm
New Delhi/IBNS: Google CEO Sundar Pichai has lauded Prime Minister Narendra Modi, who is on a three-day tour to the United States, for his "clear vision" about how Artificial Intelligence will benefit India.
BHEL shares climb 3% following Rs 6,100 crore order from NTPC
Sep 23, 2024, at 09:09 pm
New Delhi/IBNS: Shares of Bharat Heavy Electricals Limited (BHEL) rose 3 percent to Rs 274 in Monday’s (Sept. 23) trading on the BSE after the company bagged a Rs 6,100 crore order from the National Thermal Power Corporation (NTPC).
Vodafone Idea shares soar 8% after securing $3.6 billion deal with Nokia, Ericsson, Samsung
Sep 23, 2024, at 08:36 pm
Mumbai/IBNS: Vodafone Idea's stock price jumped more than 8 percent in early trading on Monday (Sept. 23) following the announcement of a $3.6 billion deal with Nokia, Ericsson, and Samsung to supply network equipment over the next three years.
OpenAI CEO Sam Altman advises future innovators on taking risks
Sep 23, 2024, at 07:59 pm
St. Louis, Missouri/IBNS: Sam Altman, CEO of OpenAI, is well-acquainted with taking risks, a trait that has shaped his career.
HFCL shares zoom 5% on deal to develop and supply critical sub-systems to General Atomics ASI
Sep 23, 2024, at 07:02 pm
New Delhi/IBNS: HFCL Limited shares surged by 5 percent to reach Rs 171, marking a new 52-week high in morning trade on Monday (Sept. 23), following the announcement of a strategic partnership with General Atomics Aeronautical Systems Incorporated (GA-ASI).
SpiceJet aims for fleet of 100 by the end of 2026: CMD Ajay Singh
Sep 23, 2024, at 06:39 pm
New Delhi/IBNS: A day after SpiceJet raised Rs 3,000 crore (about $360 million) through selling new shares, the airline's chairman and managing director (CMD) Ajay Singh said that the low-cost carrier aims to have 100 aircraft by the end of 2026, The Economic Times (ET) reported on Monday (Sept. 23).
Sep 22, 2024, at 03:42 am
New Delhi/IBNS: Finance Minister Nirmala Sitharaman chaired a review meeting on Friday (Sept. 20) to assess the Ministry of Housing and Urban Affairs' capital expenditure for the current fiscal year, where she urged officials to fully utilize the budgeted capital expenditure of Rs 28,628 crore and meet the fiscal year’s capex targets.
SpiceJet QIP: Board approves issue of 48.7 crore share allotment at Rs 61.80 per share
Sep 22, 2024, at 03:26 am
New Delhi/IBNS: SpiceJet announced on Saturday (Sept. 21) that its board has approved the issuance and allotment of 48,70,12,986 equity shares to qualified institutional buyers at a price of Rs 61.60 per share, which includes a premium of Rs 51.60 per share.
Qualcomm approaches Intel for potential takeover, claims report
Sep 21, 2024, at 07:02 pm
California/IBNS: Qualcomm, which recently ventured into the PC processor market, is reportedly exploring a potential acquisition of Intel, according to a Wall Street Journal (WSJ) report.
OYO to acquire iconic hotel chains Motel 6 and Studio 6 for $525 million in US expansion bid
Sep 21, 2024, at 06:45 pm
New Delhi/IBNS: Indian homegrown hospitality giant Oyo is set to acquire Motel 6, one of the most well-known budget hotel chains in the United States, for $525 million from Blackstone's real estate division.
SEBI permits mutual funds to buy and sell credit default swaps
Sep 21, 2024, at 06:30 am
Mumbai: The Securities and Exchange Board of India (SEBI) said on Friday that mutual funds can now both buy and sell Credit Default Swaps (CDS), a move aimed at enhancing liquidity in the corporate bond market, media reports said.
Ashneer Grover's brother-in-law arrested in connection with BharatPe fraud case
Sep 21, 2024, at 06:12 am
New Delhi: The Delhi Police Economic Offences Wing (EOW) arrested Deepak Gupta, brother-in-law of BharatPe co-founder Ashneer Grover, on Friday in connection with allegations of fund misappropriation, media reports said.
September to be busiest month for IPOs in last 14 years, says RBI report
Sep 21, 2024, at 05:00 am
Mumbai: September is on track to be the busiest month for initial public offerings (IPOs)—both mainboard and SME—in 14 years, with over 28 companies entering the market so far, Moneycontrl reported, citing the latest monthly bulletin from the Reserve Bank of India (RBI).
HDFC Bank unit HDB Financial Services approves Rs 2,500 cr fundraise
Sep 21, 2024, at 04:16 am
Mumbai: HDFC Bank's unit HDB Financial Services has approved raising Rs 2,500 crore ($299 million) through a fresh issue of shares as part of its upcoming initial public offering (IPO), Reuters reported, citing the bank’s announcement on Friday.