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.
Finance Ministry dismisses reports of investigation of Hindenburg's allegation against SEBI chief
Aug 21, 2024, at 03:19 am
New Delhi: Sources from the Finance Ministry on Tuesday dismissed a media report suggesting that the ministry was considering forming a panel to investigate allegations made by Hindenburg Research against SEBI Chairperson Madhabi Puri Buch, according to a Moneycontrol report.
SEBI's consultation paper advocates for rights issues as preferred fundraising method
Aug 21, 2024, at 01:38 am
Mumbai: Capital market regulator SEBI has released a consultation paper aimed at speeding up the rights issue process.
Proposal to extended retirement age of SBI chairperson, MDs of PSBs put on hold
Aug 21, 2024, at 01:33 am
Mumbai: The government has paused a proposal to increase the retirement age of the State Bank of India (SBI) chairperson to 65 years and that of managing directors of other public sector banks (PSBs) to 62, according to sources cited by Moneycontrol.
Tariff hikes by telcom companies likely to fuel FY25 inflation by 10-15 bps: Report
Aug 20, 2024, at 09:09 pm
New Delhi/IBNS: The recent 10-27 percent tariff hike announced by telecom companies is paving the way for a 10-15-basis-point rise in inflation from earlier estimates, Moneycontrol reported on Tuesday (August 20) citing experts.
Bank FD rates surge to 9.5%, now 47% of FDs held by senior citizens
Aug 20, 2024, at 06:44 pm
New Delhi/IBNS: Bank fixed deposit (FD) interest rates have touched 9.5 percent, which is a significant development for the investors who believe in FDs as a critical foundation in their investment portfolio.
FM Nirmala Sitharaman asks PSBs to make 'concerted' efforts for special deposit drives
Aug 20, 2024, at 05:28 pm
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Monday (August 19) called for a collaborative approach between banks, the government, regulators, and security agencies, amid rising cyber threats.
Aug 20, 2024, at 06:32 am
Infosys co-founder Narayana Murthy has flagged concern over India's rapidly growing population, calling it one of the biggest risks to the country's future sustainability.
Adani Power in talks to buy Reliance Power's 600-MW thermal plant in Nagpur: Report
Aug 19, 2024, at 08:45 pm
Ahmedabad/IBNS: Adani Power, a subsidiary of Adani Group, is in discussion to acquire the 600-MW Butibori thermal power project in Nagpur for Rs 2,000-3,000 crore, and the value of the deal could translate into Rs 4-5 crore per megawatt, Mint reported on Monday (Aug 19) citing its sources.
After facing social media backlash, Cognizant clarifies salary range for freshers
Aug 19, 2024, at 08:23 pm
New Delhi/IBNS: After facing social media backlash over the Rs 2.52 lakh annual salary offers for freshers, American IT services major Cognizant on Sunday (August 18) clarified it offers Rs 4-12 lakh salary to fresh engineering graduates, and the package being quoted on social media is for non-engineering undergraduate holders.