Crude oil prices rise on Mideast escalation fears, US rate cut expectations
Aug 26, 2024, at 10:04 pm
London/IBNS: Crude oil prices climbed 1 percent on Monday (Aug 26) on renewed concerns that an escalating Gaza conflict could disrupt regional oil supplies, extending gains from Friday when the prospect of US interest rate cuts lifted the global economic and fuel demand outlook, reports Reuters.
BHEL bags Rs 11,000 crore orders from Adani Power and its subsidiary
Aug 26, 2024, at 08:43 pm
Mumbai/IBNS: Bharat Heavy Electricals Ltd. (BHEL), an Indian central public sector undertaking (PSU) and the largest state-owned power generation equipment manufacturer, has informed the exchanges that it has signed a contract agreement with Adani Power Ltd. and its subsidiary Mahan Energen Ltd. to set up three Supercritical Thermal Power Projects, reports said.
Anil Ambani reviewing legal options against SEBI order: Statement
Aug 26, 2024, at 06:57 pm
Mumbai/IBNS: Reliance Group chairman and managing director Anil Ambani, who has been banned by the Securities and Exchange Board of India (SEBI) from accessing the securities market for five years on fund diversion charges, is reviewing legal options, his spokesperson said on Sunday (Aug 25).
Tata Sons clears Rs 20,000 crore debt to avoid mandatory share market listing
Aug 26, 2024, at 06:28 pm
Mumbai/IBNS: Tata Sons, the $410-billion holding company of the Tata Group, has voluntarily surrendered its certificate of registration after repaying over Rs 20,000 crore in debt to remain an unlisted entity, according to a report by The Economic Times.
Aug 24, 2024, at 11:13 pm
Ending her 11-year journey with Tesla, the company's vice president Sreela Venkataratnam quit the firm recently and said working in the firm was not for the 'faint of heart'.
Deposit mobilisation not a challenge for bank, says SBI chairman Dinesh Khara
Aug 24, 2024, at 11:01 pm
Mumbai/IBNS: Dinesh Kumar Khara, the chairman of India's largest public sector bank State Bank of India (SBI), on Friday (August 23) said that he does not foresee any challenges for the bank in deposit mobilisation, despite the intensified competition among banks to attract deposits by raising short-term deposit rates.
Ola relaunches car-pooling service 4 years after its suspension
Aug 24, 2024, at 10:54 pm
Bengaluru/IBNS: Bengaluru-based transportation company Ola Consumer (formerly Ola Cabs) has officially relaunched its car-pooling feature 'Ola Share' on its app, after nearly four years of suspending the service due to Covid-19 protocols.
Cognizant sues software rival Infosys for allegedly stealing trade secrets
Aug 24, 2024, at 08:27 pm
Texas/IBNS: American IT services giant Cognizant's TriZetto Software Group has filed a case against India's homegrown IT service major Infosys in Texas federal court on Friday (August 23), accusing the latter of stealing trade secrets related to its healthcare insurance software.
Euro zone consumers' inflation expectations hold steady, shows ECB survey
Aug 24, 2024, at 08:25 pm
Berlin/IBNS: The European Central Bank (ECB) survey showed on Friday that euro zone consumers' inflation expectations over the next 12 months remained steady for the third month in a row in July, reports Reuters.
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.