Kolkata: Primarc and RDB Group to buy business undertaking of DLF Techpark 1 for Rs. 638 crores
Dec 03, 2024, at 06:05 am
Primarc and RDB Group recently announced that their affiliate, RDB Primarc Techno Park LLP, has executed definitive agreements to purchase the business undertaking of DLF Techpark 1 from DLF Infocity Developers (Kolkata) Ltd., a wholly owned subsidiary of DLF Cyber City Developers Ltd. for an aggregate consideration of Rs. 638 (six hundred thirty-eight) crores approximately on a slump sale basis.
Mahindra Auto sells 46222 SUVs in November
Dec 02, 2024, at 11:31 pm
Automobile major Mahindra & Mahindra Ltd. (M&M Ltd.) on Monday announced that its overall auto sales for the month of November 2024 stood at 79083 vehicles, including exports.
Cochin Shipyard shares jump 5% after bagging Rs 1,000 crore defence contract
Dec 02, 2024, at 08:16 pm
Mumbai/IBNS: Cochin Shipyard's shares continued their upward trajectory on Monday (Dec. 2), rising for the seventh consecutive session.
GST collections in November rise 8.5% to Rs 1.8 lakh crore
Dec 02, 2024, at 07:32 pm
New Delhi/IBNS: Goods and Services Tax (GST) collection for November rose by 8.5 percent to Rs 1,82,269 crore, marking the fourth-highest figure since the implementation of the new tax regime over seven years ago.
Trump threatens BRICS nations with 100% tariffs over plans for new currency
Dec 01, 2024, at 06:49 am
Washington DC: US President-elect Donald Trump on Saturday issued a stern warning to BRICS nations, demanding they commit not to create or support a new currency to replace the US dollar or risk facing 100% tariffs, Reuters reported.
Declining wages in India hit economic growth
Nov 30, 2024, at 05:35 am
New Delhi: India witnessed a contraction in wages last quarter for the first time since the pandemic, slowing the economy as consumers reduced spending amid a corporate profit slump, reported Bloomberg News.
Adani CFO denies U.S. bribery allegations, says accused will respond within 10 days
Nov 30, 2024, at 04:12 am
Mumbai: Dismissing allegations of a $265 million bribery scheme by U.S. authorities against the Adani Group's executives, including Chairman Gautam Adani,conglomerate's Chief Financial Officer Jugeshinder Singh Friday stated that the individuals implicated would respond to the claims within 10 days, Reuters reported.
India's fiscal deficit reaches 46.5% of the FY25 target
Nov 30, 2024, at 02:00 am
New Delhi: India's fiscal deficit for the first seven months of the 2024-25 financial year reached 46.5% of the full-year target, according to data released by the Controller General of Accounts (CGA) on Friday.
India's GDP growth slows to seven-quarter low of 5.4 percent
Nov 29, 2024, at 11:58 pm
India's gross domestic production (GDP) has slowed down to 5.4 percent year-on-year in the July-September quarter of the current financial year 2024-25, as per government data released on Friday.
India planning to expand EV incentive program to encourage new and existing manufacturers
Nov 29, 2024, at 10:55 pm
New Delhi: India is planning to broaden its electric vehicle (EV) incentive program to include automakers producing EVs at existing factories, rather than restricting the benefits to those building new plants, Reuters reported, citing a source familiar with the matter.
Zee Entertainment shareholders vote against reappointing Punit Goenka as director
Nov 29, 2024, at 08:42 pm
Mumbai/IBNS: Zee Entertainment's shareholders have voted against the reappointment of Punit Goenka as a director, according to a company filing.
Mahindra & Mahindra denies reports of penalty for violating emission norms
Nov 29, 2024, at 07:46 pm
Mumbai/IBNS: Mahindra & Mahindra has refuted reports claiming it faces penalties for not meeting emission norms during the 2022-23 financial year.
Pay packets around the world rose 1.8 per cent in 2023, says ILO
Nov 29, 2024, at 03:56 pm
Pay packets around the world rose 1.8 per cent in 2023 and continued their positive trajectory in the first half of the year, rising by 2.7 per cent on the back of a strong post-COVID global recovery, the UN International Labour Organization (ILO) said on Thursday.
India launches first offshore mineral auction, marking entry into undersea resource exploration
Nov 29, 2024, at 06:05 am
New Delhi: The Ministry of Mines launched India's inaugural auction of 13 offshore mineral blocks on Thursday, marking a major step into the exploration and development of undersea resources within the nation's maritime territories.
Israel expresses support for Adani Group amid US indictments over bribery allegations
Nov 29, 2024, at 05:38 am
New Delhi: Israel has reaffirmed its support for the Adani Group despite allegations of bribery against its founder in the United States.
Govt shifts massive refinery projects to Gujarat, Andhra Pradesh amid Saudi energy talks
Nov 28, 2024, at 05:04 pm
New Delhi: The Union government plans to relocate two massive oil refineries, each with an annual capacity of 10-15 million tonnes and integrated petrochemical facilities, from Maharashtra’s Ratnagiri to Gujarat and Andhra Pradesh, according to The Times of India.
Indians reported losing Rs 11,333 cr to cyber fraud in the first nine months of 2024
Nov 28, 2024, at 04:19 am
New Delhi: India reported losses of Rs 11,333 crore due to cyber fraud in the first nine months of 2024, as per data from the Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs (MHA).
Nov 28, 2024, at 03:12 am
Bengaluru: A group of e-retailers operating on major platforms like Amazon and Walmart-backed Flipkart argued before the Karnataka High Court (HC) on Wednesday that the investigation by the Competition Commission of India (CCI) into alleged anti-competitive practices exceeds the regulator's statutory authority, media reports said.
Steep rise in counterfeit Rs 500 and Rs 2,000 notes: Finance Ministry Data
Nov 28, 2024, at 02:27 am
New Delhi: Counterfeit currency detections, particularly of Rs 500 and Rs 2,000 notes, have seen a sharp rise in recent years, according to data shared by the Ministry of Finance during a recent Lok Sabha session.
Nov 28, 2024, at 02:02 am
New Delhi: Senior lawyer and former Attorney General of India Mukul Rohatgi refuted allegations against the Adani Group, stating that its founder chairman, Gautam Adani, and his nephew, Sagar Adani, have not been accused of bribery or obstructing justice in the US, media reports said.
SBI's fundraise touches Rs 50,000 cr via bonds so far in FY25
Nov 28, 2024, at 01:58 am
Mumbai: The State Bank of India (SBI) has raised a total of Rs 50,000 crore so far in the current financial year, with Rs 10,000 crore secured through its latest infrastructure bond issuance earlier this month.
Cabinet approves PAN 2.0 project, industry experts welcome move
Nov 27, 2024, at 10:41 pm
The Indian government's Cabinet Committee on Economic Affairs (CCEA) has approved the Income Tax Department’s Permanent Account Number (PAN) 2.0 Project which aims to streamline and modernise the process of issuing and managing PAN and TAN.
Honda forays into Indian E2W market; launches QC1 and Activa e:
Nov 27, 2024, at 09:25 pm
Bengaluru/IBNS: Japanese motorcycle manufacturer Honda has finally entered India's electric two-wheeler (E2W) market with the launch of its two new electric scooters — Activa e: and QC1.
Adani Wilmar said to postpone stake sale following US bribery allegations: Report
Nov 26, 2024, at 11:38 pm
Mumbai/IBNS: Adani Enterprises Ltd. and Wilmar International Ltd. have reportedly postponed plans to sell at least 12 percent of their stake in Adani Wilmar Ltd., their Indian food venture, following a US bribery indictment involving billionaire founder Gautam Adani, Bloomberg reported, citing sources familiar with the matter.
Key SEBI Regulations Shaping the Future of Brokerage in 2025
Nov 26, 2024, at 09:29 pm
The Securities and Exchange Board of India (SEBI), the country’s capital market regulator, continues to play a pivotal role in defining the framework of India’s financial markets. As we step into 2025, SEBI’s evolving regulations are expected to shape the brokerage landscape, making it more transparent, cost-efficient, and technology-driven.
Vodafone Idea shares soar 19%, other telecom stocks surge as cabinet approves bank guarantee waiver
Nov 26, 2024, at 09:04 pm
Mumbai/IBNS: Telecom stocks surged on Tuesday (Nov. 26) following reports that the Union Cabinet approved waiving bank guarantees (BGs) for spectrum purchased before 2022.
Essar group's co-founder Shashikant Ruia dies at 81
Nov 26, 2024, at 08:35 pm
Mumbai/IBNS: Shashikant Ruia, the co-founder of the Essar Group and a patriarch of the billionaire Ruia family, passed away at the age of 81, the family announced in an official statement on Tuesday (Nov. 26).
Plastonix -Vee Technologies to develop a plastic waste recycling system in Karnataka
Nov 25, 2024, at 10:38 pm
Plastonix Inc., a Canada-based, plastics recycling technologies company, has announced signing a Memorandum of Understanding (MOU) with Bengaluru and New York co-headquartered technology and IT services company Vee Technologies to pursue a 50:50 joint venture to collaboratively develop a plastic waste recycling system in India using Plastonix’s patent-pending technology.
S&P lowers India's GDP growth forecast for the next two fiscal years
Nov 25, 2024, at 10:31 pm
New Delhi/IBNS: S&P Global Ratings has maintained India's GDP growth forecast for the current financial year 2024-25 at 6.8 percent, but has revised down its growth projections for the next two fiscal years.
Adani Group assures liquidity to meet debt obligations amid legal challenges
Nov 25, 2024, at 10:28 pm
Ahmedabad/IBNS: Adani Group has reassured investors that its listed companies have sufficient cash reserves to meet debt obligations for the next 12 months.