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moneycontrol.com
https://www.moneycontrol.com/news/business/companies/hindustan-zinc-gets-power-supply-from-serentica-180-mw-solar-project-12767101.html
Hindustan Zinc gets power supply from Serentica 180 MW solar project
The renewable energy is being used for Hindustan Zinc's operational business units in Rajasthan..Related stories.
Vedanta group firm Hindustan Zinc on Thursday said it has started receiving power supply from Serentica Renewables. The renewable energy is being used for Hindustan Zinc’s operational business units in Rajasthan. ”On Global Energy Independence Day, Hindustan Zinc… announced the commencement of the first phase of ...
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2024-07-11 18:33
moneycontrol.com
https://www.moneycontrol.com/news/india/food-basket-high-yield-seeds-pulses-shivraj-chouhan-12767077.html
Pledge to make India world's food basket, 100 high-yielding seeds coming soon: Shivraj Singh Chouhan
We import pulses, but this dependency should end, said Shivraj Singh Chouhan..Related stories.
Government has pledged to make India the world's food basket, and very soon as many as 100 high-yielding varieties of seeds are going to be launched to boost farmers' income, Agriculture Minister Shivraj Singh Chouhan said. Minister Chouhan was addressing the Agriculture Leadership Conclave 2024 in Maharashtra, where h...
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2024-07-11 18:06
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/pepsico-quarterly-revenue-misses-on-slowing-demand-for-snacks-sodas-12767006.html
PepsiCo quarterly revenue misses on slowing demand for snacks, sodas
Easing production and other expenses from pandemic peaks are giving companies some relief from a surge in costs.Related stories.
PepsiCo missed expectations for second-quarter revenue on Thursday as a series of price hikes and competition from private-label brands slowed sales of its snacks and soda mainly in the United States, its largest market. Analysts have said that product prices, which are starting to normalize almost after two years of m...
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2024-07-11 16:41
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/pfizer-moves-forward-with-once-daily-weight-loss-pill-12767002.html
Pfizer moves forward with once-daily weight loss pill
Pfizer company logo is seen at a Pfizer office in Puurs, Belgium.
Pfizer said on Thursday it would advance a reworked, once-a-day version of its experimental obesity pill, danuglipron to clinical trials in the second half of this year, sending its shares 5% higher in premarket trading. The drugmaker last year said it was focusing on danuglipron's development after scrapping a separat...
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2024-07-11 16:37
moneycontrol.com
https://www.moneycontrol.com/news/business/ongc-seeks-us-waiver-to-lift-venezuela-oil-industry-source-says-12766830.html
ONGC higher on hopes of getting US waiver to lift Venezuelan oil
ONGC seeks US waiver to lift Venezuela oil, industry source says.
Shares ofOil and Natural Gas Corp are trading higher afterReuters reported citing industry source that India's largest oil and gas exploration company has sought a waiver from the U.S. Office of Foreign Assets Control to lift crude oil from Venezuela. The report said ONGC is optimistic of winning an approval, accor...
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2024-07-11 14:59
moneycontrol.com
https://www.moneycontrol.com/news/business/economy/hiring-trend-india-inc-favours-experience-over-youth-in-post-pandemic-shift-shows-epf-data-12766770.html
Hiring trend: India Inc favours experience over youth in post-pandemic shift, shows EPF data
Experience finds place in formal job market.Related stories.
India’s formal sector employers are preferring experience over age while hiring post pandemic, going by the Employees’ Provident Fund Scheme additions, despite nearly half of the population being below 25 years of age compared with just over a quarter for China. AMoneycontrolanalysis of Ministry of Statistics and P...
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2024-07-11 14:57
moneycontrol.com
https://www.moneycontrol.com/news/business/economy/auto-component-industry-to-see-moderate-growth-this-fiscal-icra-12766895.html
Auto component industry to see moderate growth this fiscal: ICRA
Auto component industry to see moderate growth this fiscal: ICRA.Related stories.
The Red Sea crisis is likely to impact the margins of the auto component industry over the next few quarters amid higher container rates and shipping time, credit ratings agency ICRA said on Thursday, projecting a moderate growth for the industry this fiscal. Close to two-thirds of the auto component exports are made t...
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2024-07-11 14:39
moneycontrol.com
https://www.moneycontrol.com/news/business/vedanta-to-raise-up-to-rs-1000-crore-via-debentures-12766869.html
Vedanta to raise up to Rs 1,000 crore via debentures
Vedanta to raise up to Rs 1,000 crore via debentures.
Mining conglomerateVedantaLtd on Thursday said it plans to raise up to Rs 1,000 crore through the issuance of debentures. In a regulatory filing the company said, its directors have approved the allotment of 1,00,000 non-convertible debentures aggregating to Rs 1,000 crore on a private placement basis. "The duly consti...
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2024-07-11 14:03
moneycontrol.com
https://www.moneycontrol.com/news/business/economy/will-resume-agitation-on-pending-demands-of-legal-guarantee-to-msp-farm-loan-waiver-skm-12766862.html
Will resume agitation on pending demands of legal guarantee to MSP, farm loan waiver: SKM
Will resume agitation on pending demands of legal guarantee to MSP, farm loan waiver: SKM.
Farmers' body SKM on Thursday announced it will resume its agitation over its pending demands, including a legal guarantee to MSP and loan waiver, and submit a memorandum to the prime minister and the leader of opposition in the Lok Sabha. The Samyukt Kisan Morcha (SKM), which led the 2020-21 farmers' protest, made the...
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2024-07-11 13:59
moneycontrol.com
https://www.moneycontrol.com/news/business/economy/indias-oil-gas-exploration-offers-100-billion-opportunity-hardeep-singh-puri-12766849.html
India's oil, gas exploration offers $100 billion opportunity: Hardeep Singh Puri
India's oil, gas exploration offers $100 billion opportunity: Hardeep Singh Puri.Related stories.
Oil Minister Hardeep Singh Puri on Thursday called for stepping up oil and gas hunt to cut India's reliance on imports and making available fuel at an affordable and sustainable way. Speaking at the Urja Varta conference, he said the exploration and production (E&P) sector is integral in the journey towards energy self...
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2024-07-11 13:46
moneycontrol.com
https://www.moneycontrol.com/news/business/economy/centre-to-launch-125-plus-fisheries-projects-worth-over-rs-100-crore-in-tamil-nadu-on-friday-12766810.html
Centre to launch 125-plus fisheries projects worth over Rs 100 crore in Tamil Nadu on Friday
Centre to launch 125-plus fisheries projects worth over Rs 100 crore in Tamil Nadu on Friday.Related stories.
In a major boost to the fisheries sector, Union Minister Rajiv Ranjan Singh is slated to inaugurate more than 125 projects at the Fisheries Summer Meet to be held in Madurai, Tamil Nadu on Friday, according to ministry officials. These initiatives, approved under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), repres...
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2024-07-11 13:13
moneycontrol.com
https://www.moneycontrol.com/news/business/economy/finance-ministry-notifies-gstr-1a-to-amend-outward-supply-form-12766771.html
Finance ministry notifies GSTR-1A to amend outward supply form
FinMin notifies GSTR-1A to amend outward supply form.Related stories.
The finance ministry has notified the GSTR-1A form which will give an option to taxpayers to amend outward supply or sales return form. Last month, the GST Council had recommended providing a new optional facility by way of form GSTR-1A to facilitate the taxpayers to amend the details in form GSTR-1 for a tax period an...
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2024-07-11 12:42
moneycontrol.com
https://www.moneycontrol.com/news/business/electric-mobility-startup-vidyut-launches-offline-pre-owned-ev-sales-financing-platform-12766751.html
Electric mobility startup Vidyut launches offline pre-owned EV sales, financing platform
Electric mobility startup Vidyut launches offline pre-owned EV sales, financing platform.Related stories.
Bengaluru-based electric mobility startup Vidyut on Thursday announced the launch of its offline pre-owned EV sales and financing platform. The latest offline services have been made available in Delhi-NCR, Hyderabad and Bengaluru to begin with, while the plans are to expand them into six more markets including Mumbai,...
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2024-07-11 12:17
moneycontrol.com
https://www.moneycontrol.com/news/business/markets/sci-nmdc-steel-shares-rally-up-to-19-amid-buzz-of-likely-strategic-sale-12766700.html
SCI, NMDC Steel shares rally up to 19% amid buzz of likely strategic sale
At 11:15 am, while NSL was trading at Rs 60.65, higher by 5.22 percent compared to the opening price on NSE, SCI shares were trading 18.88 percent higher at Rs 327.1. The shipping firm posted its 52-week high during the session at Rs 329..Related stories.
Shares of two state-run companies recorded healthy gains in the early hours of trading on July 11. NMDC Steel Limited(NSL) andShipping Corporation of India(SCI) were generating interest in the market after Moneycontrol reported on July 10 that privatization of the two firmsare back on track. Moreover, the shipping min...
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2024-07-11 11:58
moneycontrol.com
https://www.moneycontrol.com/news/business/economy/india-widens-use-of-foreign-currency-accounts-in-gift-city-12766718.html
India widens use of foreign currency accounts in GIFT City
India widens use of foreign currency accounts in GIFT City.Related stories.
Indians have been allowed wider usage of foreign currency accounts at the Gujarat International Finance Tec-City, or GIFT City, boosting business prospects for a finance hub pushed by Prime Minister Narendra Modi. GIFT City, launched in the western state of Gujarat by Modi in 2011, has been planned as an alternative to...
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2024-07-11 11:54
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/first-abu-dhabi-bank-says-not-evaluating-any-offer-for-stake-in-yes-bank-12766657.html
First Abu Dhabi Bank says not evaluating any offer for stake in Yes Bank
The Middle Eastern lender was weighing a bid for as much as a 51 percent stake in Yes Bank, Bloomberg reported on July 11.Related stories.
First Abu Dhabi Bank PJSC has denied reports that it is evaluating any possible offer for a stake in YES Bank, Reuters reported on July 11. Yesterday,ÂBloomberg reported that First Abu Dhabi Bank PJSCis among potential suitors for a roughly $5 billion stake in the Indian bank. The Middle Eastern lender was weighing ...
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2024-07-11 11:01
moneycontrol.com
https://www.moneycontrol.com/news/business/kalpataru-projects-international-bags-orders-worth-rs-2995-crore-12766612.html
Kalpataru Projects International bags orders worth Rs 2,995 crore
Kalpataru Projects International bags orders worth Rs 2,995 crore.Related stories.
Kalpataru Projects International on Thursday said the company along with its joint ventures and international subsidiaries have bagged orders worth Rs 2,995 crore. In a statement the company said the new order wins were in the transmission & distribution (T&D), building & factories (B&F) and water business categories. ...
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2024-07-11 10:20
moneycontrol.com
https://www.moneycontrol.com/news/business/markets/powell-stresses-message-that-us-job-market-is-cooling-a-possible-signal-of-coming-rate-cut-12766399.html
Powell stresses message that US job market is cooling, a possible signal of coming rate cut
Powell stresses message that US job market is cooling, a possible signal of coming rate cut.Related stories.
Federal Reserve Chair Jerome Powell on Wednesday reinforced a message that the Fed is paying growing attention to a slowing job market and not only to taming inflation, a shift that signals it's likely to begin cutting interest rates soon. "We're not just an inflation-targeting central bank," Powell told the House Fina...
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2024-07-10 21:56
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/no-linkage-between-up-hybrid-car-policy-and-price-cut-of-xuv-700-variant-clarifies-mm-12766081.html
No link between UP hybrid car policy and XUV 700 price cut, clarifies M&M
Mahindra XUV700.Related stories.
Mahindra and Mahindra on July 10 clarified that there was no linkage  between the recently announced price reduction of its popular SUV XUV 700 and Uttar Pradesh government's hybrid vehicle policy. In a regulatory filing, M&M said, "We wish to inform the stock exchanges that there is no linkage between the price cut ...
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2024-07-10 20:31
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/accenture-acquires-cientra-in-a-bid-to-expand-silicon-design-capabilities-12766366.html
Accenture acquires Cientra in a bid to expand silicon design capabilities
The Cientra acquisition will help expand Accenture's silicon design and engineering capabilities, the company said.Related stories.
Accenture on July 10 announced the acquisition of Cientra, a silicon design and engineering services company, for an undisclosed amount. The Company which was founded in 2015, is headquartered in New Jersey, US, and has offices in Frankfurt, Germany as well as in Bangalore, Hyderabad and New Delhi. ŌĆ£Everything from d...
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2024-07-10 20:23
moneycontrol.com
https://www.moneycontrol.com/news/business/markets/retail-inflation-for-industrial-workers-eases-to-3-86-in-may-12766316.html
Retail inflation for industrial workers eases to 3.86% in May
Retail inflation for industrial workers eases to 3.86% in May.
Retail inflation for industrial workers eased to 3.86 per cent in May compared to 4.42 per cent in the same month a year ago. The Consumer Price Index-Industrial Workers (CPI-IW) was 3.87 per cent in April 2024, a labour ministry statement said. According to the statement, year-on-year inflation for May 2024 moderated ...
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2024-07-10 19:19
moneycontrol.com
https://www.moneycontrol.com/news/business/economy/mospi-preparing-vision-2029-document-with-focus-on-ai-ml-12766276.html
MOSPI preparing Vision 2029 document with focus on AI, ML
Five year vision, with eye on AI.Related stories.
The Union Ministry of Statistics and Programme Implementation (MOSPI) is working on a five-year plan, which includes artificial intelligence and machine learning as focus areas, sources toldMoneycontrol. “Consultations are going on regarding our vision for the next five years,” a person aware of the developments sa...
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2024-07-10 18:35
moneycontrol.com
https://www.moneycontrol.com/news/business/economy/guaranteed-pension-model-will-hurt-states-more-than-the-centre-12766264.html
Guaranteed pension model will hurt states more than the Centre
Guaranteed pension model to be a burden for states.Related stories.
A guaranteed pension model, which ends up assuring 50 percent of basic income as pension, may end up hurting the states more than the Centre, as this will result in a reduced fiscal space to accommodate higher spends, according to aMoneycontrolanalysis. If 50 percent of the last basic income is set as a pension, the Ce...
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2024-07-10 18:21
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/aavas-financiers-eqt-cvc-capital-bain-in-the-fray-as-promoters-kedaara-partners-group-explore-full-exit-12766247.html
Aavas Financiers: EQT, CVC Capital & Bain in the fray as promoters Kedaara, Partners Group explore full exit
Kedaara Capital and Partners Group, classified under the promoter category, own a combined 26.47 percent stake in Aavas Financiers..Related stories.
Top global private equity firms EQT, CVC Capital and Bain Capital have independently expressed interest in the ongoing mega stake sale in the works at Aavas Financiers Ltd ( formerly known as AU Housing Finance Ltd), three persons in the know told Moneycontrol. On July 3, Moneycontrol was thefirst to reportthat the twi...
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2024-07-10 17:38
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/sula-vineyards-net-revenue-jumps-10-to-rs-130-cr-in-q1fy25-its-highest-ever-12766213.html
Sula Vineyards' net revenue jumps 10% to Rs 130 cr in Q1FY25, its highest ever
The firm’s wine tourism segment saw a decline of 2.5 percent at Rs 11.3 crore in the reported quarter against Rs 11.5 crore in the same period of previous year..Related stories.
Sula Vineyards Limitedon July 10 posted its highest ever overall net revenue in the first quarter of FY25, India’s largest wine producer said in an exchange filing. The company recorded a 9.7 percent growth in its net revenue for the reported quarter at Rs 129.6 crore against Rs 118.2 crore reported in the year-ago p...
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2024-07-10 17:22
moneycontrol.com
https://www.moneycontrol.com/news/business/markets/rupee-falls-2-paise-to-settle-at-83-51-against-us-dollar-12766231.html
Rupee falls 2 paise to settle at 83.51 against US dollar
Rupee falls 2 paise to settle at 83.51 against US dollar.Related stories.
The rupee stayed range-bound and settled 2 paise lower at 83.51 (provisional) against the US dollar on Wednesday amid rising crude oil prices overseas and selling in domestic equities. A softening American currency and inflow of foreign funds capped the fall in the local unit, forex traders said. At the interbank forei...
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2024-07-10 16:47
moneycontrol.com
https://www.moneycontrol.com/news/business/jsw-mg-motor-joins-hands-with-shell-for-ev-charging-infra-12765966.html
JSW MG Motor joins hands with Shell for EV charging infra
Moneycontrol has exclusively reported that JSW MG Motor India, has lined up a slew of products, including Plug-in Hybrid Electric Vehicles and also Battey Electric Vehicles..Related stories.
JSW MG Motor India, known as MG Motor India Pvt Ltd until early this year, has joined hands with Shell India to enhance public charging infrastructure for Electric Vehicles (EVs) across the country. As per the partnership, JSW MG Motor India customers will be able to leverage on Shell's fuel station network across the...
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2024-07-10 15:08
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/sc-stays-gujarat-hcs-order-directing-for-recovery-of-108-hectare-land-from-adani-ports-12766052.html
SC stays Gujarat HC's order directing recovery of 108-hectare land from Adani Ports
The state HC had recently ordered the recovery of allotted land from the Adani group firm..Related stories.
Supreme Court on July 10 stayed Gujarat High Court’s order directing the recovery of land allotted toAdani Portsin Navinal village, Mundra. A bench of justices BR Gavai and KV Viswanathan passed the order in an appeal filed by Adani ports against the recovery of around 108 hectares of land by Gujarat government. Duri...
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2024-07-10 15:03
moneycontrol.com
https://www.moneycontrol.com/news/business/economy/india-to-sell-wheat-from-state-stocks-to-flour-millers-biscuit-makers-12766105.html
India to sell wheat from state stocks to flour millers, biscuit makers
India to sell wheat from state stocks to flour millers, biscuit makers.Related stories.
India plans to sell wheat from its state reserves to bulk consumers such as flour millers and biscuit makers from next month, according to a government order seen by Reuters, as it seeks to keep a lid on local prices by boosting supplies. The government has allowed the state-run Food Corporation of India (FCI) to start...
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2024-07-10 14:46
moneycontrol.com
https://www.moneycontrol.com/news/business/signature-global-to-invest-rs-2500-crore-on-construction-of-current-housing-projects-in-fy25-cmd-12766094.html
Signature Global to invest Rs 2,500 crore on construction of current housing projects in FY25: CMD
Signature Global to invest Rs 2,500 crore on construction of current housing projects in FY25: CMD.Related stories.
Realty firm Signature Global will invest around Rs 2,500 crore this fiscal on the construction of its various housing projects, its Chairman Pradeep Kumar Aggarwal said on Wednesday. He expressed confidence that the company would meet the sales bookings guidance of Rs 10,000 crore for the current 2024-25 financial year...
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2024-07-10 14:33
moneycontrol.com
https://www.moneycontrol.com/technology/karnataka-nets-rs-6450-crore-investment-commitment-from-japan-south-korea-to-create-1000-jobs-article-12766070.html
Karnataka nets Rs 6,450 crore investment commitment from Japan, South Korea; to create 1,000 jobs
Karnataka Large and Medium Industries & Infrastructure Development Minister MB Patil..Related stories.
Karnataka Large and Medium Industries & Infrastructure Development Minister MB Patil said on July 10 that the state delegation’s visit to Japan and South Korea secured Rs 6,450 crore in investment commitments which could create more than 1,000 jobs. Ahead of Karnataka's Global Investors Meet in February 2025,a high-l...
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2024-07-10 14:14
moneycontrol.com
https://www.moneycontrol.com/news/business/tata-motors-mahindra-cut-suv-prices-to-boost-demand-12766067.html
Tata Motors, Mahindra cut SUV prices to boost demand
Tata Motors, Mahindra cut SUV prices to boost demand.
Tata MotorsandMahindra & Mahindrahave cut the prices of their SUV models to boost demand. Tata Motors has revised the starting prices of its flagship SUVs, the Harrier (Rs 14.99 lakh) and the Safari (Rs 15.49 lakh) and extended benefits of up to Rs 1.4 lakh on other popular SUV variants. "With regards to electric vehic...
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2024-07-10 14:09
moneycontrol.com
https://www.moneycontrol.com/news/business/economy/industry-services-added-33-more-jobs-between-fy14-and-fy23-sbi-research-12766034.html
Industry, services added 33% more jobs between FY14 and FY23: SBI Research
Industry, services added more jobs.Related stories.
Industry and services created 33 percent more jobs in the decade between FY14 and FY23, compared with the previous decade, according to data released by State Bank of India’s research unit on Wednesday. Industry and services created 88.9 million jobs between FY14 and FY23, up from 66.4 million in the previous decade....
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2024-07-10 13:53
moneycontrol.com
https://www.moneycontrol.com/news/business/juniper-green-inks-pacts-to-supply-480-mw-from-solar-wind-hybrid-projects-12766032.html
Juniper Green inks pacts to supply 480 MW from solar-wind hybrid projects
Juniper Green inks pacts to supply 480 MW from solar-wind hybrid projects.
Juniper Green Energy on Wednesday said it has inked two pacts for supply of 480 MW electricity from its solar-wind hybrid capacity to Gujarat Urja Vikas Nigam (GUVNL) and NTPC. According to a company statement, GUVNL Hybrid Phase 1 project has 190 MW of hybrid capacity (140 MW solar and 50 MW wind). It is set to genera...
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2024-07-10 13:43
moneycontrol.com
https://www.moneycontrol.com/news/business/ge-power-india-gets-order-to-supply-main-turbine-spares-12766031.html
GE Power India gets order to supply main turbine spares
GE Power India gets order to supply main turbine spares.
GE Power India Ltd (GPIL) on Wednesday said it has received an order from Mangalore Refinery and Petrochemicals for the supply of main turbine spares. The order has to be executed in a period of 18 month, GPIL said in an exchange filing. The base value of the order is Rs 76.67 million excluding GST, it said. GE Power I...
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2024-07-10 13:40
moneycontrol.com
https://www.moneycontrol.com/news/business/jlr-india-retail-sales-rise-31-at-1371-units-in-q1-12766030.html
JLR India retail sales rise 31% at 1,371 units in Q1
JLR India retail sales rise 31% at 1,371 units in Q1.
Jaguar Land Rover India on Wednesday said its retail sales increased 31 per cent year-on-year to 1,371 units for the first quarter ended June 30, 2024. The automaker had retailed 1,048 units in the April-June quarter of last fiscal. Sales of both Defender and Range Rover Evoque grew by more than 50 per cent with Defend...
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2024-07-10 13:38
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/tata-trusts-forms-executive-committee-to-speed-up-decision-making-report-12765721.html
Tata Trusts forms executive committee to speed up decision making: Report
Vijay Singh and Venu Srinivasan, appointed as vice chairmen in 2018, represent Tata Trusts on the board of Tata Sons, aligning with governance and succession planning initiatives..Related stories.
Tata Trusts has formed an executive committee comprising Chairman Ratan Tata, Vice-Chairmen Venu Srinivasan and Vijay Singh, and Trustee Mehli Mistry, sources familiar with the development toldThe Economic Times. According to anETreport, the committee is formed to streamline day-to-day decision-making processes without...
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2024-07-10 09:31
moneycontrol.com
https://www.moneycontrol.com/news/business/markets/gold-rangebound-with-spotlight-on-us-inflation-reading-12765690.html
Gold rangebound with spotlight on US inflation reading
Gold rangebound with spotlight on US inflation reading.Related stories.
Gold traded in a narrow price range on Wednesday as investors looked forward to a key U.S. inflation reading that could shed more light on the Federal Reserve's interest rates trajectory. Spot gold rose 0.2% to $2,367.79 per ounce by 0229 GMT. U.S. gold futures climbed 0.3% to $2,374.10. Fed Chair Jerome Powell in his ...
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2024-07-10 08:54
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/hyundais-csr-wing-to-support-20-para-athletes-for-3-years-12765547.html
Hyundai's CSR wing to support 20 para-athletes for 3 years
The programme has identified talented athletes across eight key sports categories including athletics, swimming, badminton and archery.
The Hyundai Motor India Foundation, the Corporate Social Responsibility (CSR) division of Hyundai, on Monday announced an initiative to support 20 para-athletes for three years. As part of its 'Samarth Para-Sports Programme', the automaker has collaborated with GoSports Foundation. The initiative is designed to offer s...
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2024-07-09 22:21
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/infosys-partners-with-sector-alarm-to-fuel-growth-via-cloud-based-solutions-12765289.html
Infosys partners with Sector Alarm to fuel growth via cloud-based solutions
On July 9, shares of Infosys ended lower by 0.33 percent at Rs 1,656.2 on NSE..Related stories.
Infosys, on July 9, announced a five-year strategic collaboration with Sector Alarm to transform the latter’s core enterprise business systems on the cloud, in an exchange filing. The Europe-based security provider is owned partially by global investment firm KKR. Lorenzo Bianchi, chief digital transformation officer...
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2024-07-09 16:18
moneycontrol.com
https://www.moneycontrol.com/news/business/phenomenal-launches-full-text-to-video-ai-platform-12765248.html
Phenomenal launches full text-to-video AI platform
Phenomenal launches full text-to-video AI platform.
Phenomenal AI on Monday said it has launched India's first full text-to-video (TTV) Artificial Intelligence platform. The platform is poised to transform the landscape of video content creation, the company said in a statement. Leveraging advanced AI and Machine Learning technologies, Phenomenal AI empowers users to ge...
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2024-07-09 14:43
moneycontrol.com
https://www.moneycontrol.com/news/business/alembic-pharma-gets-usfda-nod-for-generic-bromfenac-ophthalmic-solution-12765230.html
Alembic Pharma gets USFDA nod for generic Bromfenac ophthalmic solution
Alembic Pharma gets USFDA nod for generic Bromfenac ophthalmic solution.
Alembic Pharmaceuticals Ltd on Tuesday said it has received final approval from the US health regulator for its generic Bromfenac ophthalmic solution, which is indicated for the treatment of postoperative inflammation and pain in patients who have undergone cataract surgery. The approval by the US Food & Drug Administr...
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2024-07-09 14:25
moneycontrol.com
https://www.moneycontrol.com/news/business/ashwin-sheth-group-to-invest-rs-5000-crore-to-expand-real-estate-business-to-launch-ipo-in-2-years-12765188.html
Ashwin Sheth Group to invest Rs 5,000 crore to expand real estate business; to launch IPO in 2 years
Ashwin Sheth Group to invest Rs 5,000 crore to expand real estate business; to launch IPO in 2 years.Related stories.
Realty firm Ashwin Sheth Group on Tuesday announced an investment of around Rs 5,000 crore to expand its business and will launch its maiden public issue in the next 18-24 months. Mumbai-based company said it has achieved sales bookings of around Rs 1,500 crore during the last fiscal, a 3-fold increase from the 2022-23...
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2024-07-09 13:33
moneycontrol.com
https://www.moneycontrol.com/news/business/hyundai-under-pressure-from-tata-mahindra-as-3-5-billion-india-ipo-looms-12765050.html
Hyundai under pressure from Tata, Mahindra as $3.5 billion India IPO looms
Hyundai under pressure from Tata, Mahindra as $3.5 billion India IPO looms.Related stories.
Tata Motors Ltd. and Mahindra & Mahindra Ltd. are closing in on Hyundai Motor Co.’s No. 2 position in India, putting pressure on the South Korean automaker just as it prepares for a record $3.5 billion listing of its local unit. While Hyundai has long wrestled with Tata Motors for the second spot, Mahindra — fame...
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2024-07-09 11:31
moneycontrol.com
https://www.moneycontrol.com/news/business/markets/rategain-stock-jumps-on-multi-year-deal-with-malaysia-airlines-12764997.html
RateGain stock jumps 5% on multi-year deal with Malaysia Airlines
The stock price of the company surged 2.79 percent to Rs 806.8 on NSE at 10:26 am..Related stories.
TheRateGain Travel Technologies Limited stock jumped 5 percent on July 9 after the Noida-based firm announced a multi-year partnership with Malaysia Airlines Berhad, the national carrier of Malaysia. At 10.26 am, the stock was trading at Rs 821.05 on the National Stock Exchange, up 4.61 percent from the previous close...
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2024-07-09 11:20
moneycontrol.com
https://www.moneycontrol.com/news/business/inox-wind-bags-order-for-200-mw-wind-project-in-gujarat-rajasthan-12764978.html
Inox Wind bags order for 200 MW wind project in Gujarat, Rajasthan
Inox Wind bags order for 200 MW wind project in Gujarat, Rajasthan.
Inox Wind on Tuesday said it has secured an order for a 200 MW wind energy project from a renewable C&I power producer. The project will be executed in Gujarat and Rajasthan, a company statement said. The order is for (Inox Wind Ltd) IWL's latest 3 MW (each) Wind Turbine Generators (WTGs) and the scope comprises end-to...
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2024-07-09 10:01
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/rkn-enterprises-sells-12-65-stake-in-godrej-industries-for-rs-3803-crore-under-settlement-plan-12764722.html
RKN Enterprises sells 12.65% stake in Godrej Industries for Rs 3,803 crore under settlement plan
The shares were disposed of at an average price of Rs 893.05 apiece, taking the combined transaction value to Rs 3,802.90 crore..Related stories.
RKN Enterprises, a part of Godrej Enterprises Group, on Monday sold shares worth Rs 3,803 crore in Godrej Industries Ltd to members of Godrej Industries Group as part of the Godrej family settlement announced in April. According to the block deal data available on the BSE, RKN Enterprises offloaded a total of 4,25,83,2...
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2024-07-08 19:55
moneycontrol.com
https://www.moneycontrol.com/news/business/welspun-one-raises-rs-2275-crore-for-second-fund-to-build-warehousing-assets-12764275.html
Welspun One raises Rs 2,275 crore for second fund to build warehousing assets
Welspun One raises Rs 2,275 crore for second fund to build warehousing assets.Related stories.
Welspun One has raised Rs 2,275 crore from investors for its second fund and would use the capital to develop warehousing properties. Welspun One, an integrated fund and development management platform, on Monday announced the successful closure of its second fund totalling Rs 2,275 crores, inclusive of co-investment c...
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2024-07-08 19:07
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/mahanagar-gas-hikes-rates-for-cng-and-domestic-png-in-mumbai-12764651.html
Mahanagar Gas hikes rates for CNG and domestic PNG in Mumbai
The natural gas company will increase the price of delivered CNG by Rs 1.5 per KG, while domestic PNG will see a hike of Rs 1/SCM, the statement said..Related stories.
Mahanagar Gas(MGL) on July 8 announced a hike in prices for CNG and domestic piped natural gas (PNG) in and around Mumbai starting July 9 to offset the rising input cost, the state-run firm said in a statement. The natural gas company will increase the price of delivered CNG by Rs 1.5 per KG, while domestic PNG will se...
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2024-07-08 19:01
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/delta-corp-shares-jump-a-day-ahead-of-q1fy25-earnings-12764597.html
Delta Corp shares jump 8% a day ahead of Q1FY25 earnings
The stock price surged 7.76 percent to Rs 144.97 on NSE at close. It had opened flat at Rs 135.5 and touched day’s high of Rs 147.95 before paring some gains..Related stories.
Shares ofDelta Corpzoomed close to 8 percent on July 8 a day ahead of the gaming and hospitality firm is set to announce its June quarter earnings. The stock price surged 7.76 percent to Rs 144.97 on NSE at close. It had opened flat at Rs 135.5 and touched day’s high of Rs 147.95 before paring some gains. In the past...
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2024-07-08 18:34
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/bharat-petroleum-among-eight-bidders-for-sri-lankan-lpg-company-and-terminal-12764600.html
Bharat Petroleum among eight bidders for Sri Lankan LPG company and terminal
A man paints the logo of oil refiner Bharat Petroleum Corp (BPCL) on a wall on the outskirts of Kochi.
Vitol Asia and Bharat Petroleum are among eight bidders for Sri Lanka's state-run LPG company and terminal as the island nation looks to reduce losses incurred by government-owned enterprises under a $2.9 billion International Monetary Fund (IMF) programme. The eight bidders can now submit proposals to the Sri Lankan g...
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2024-07-08 17:38
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/southwest-air-names-aviation-industry-veteran-rakesh-gangwal-to-board-12764584.html
Southwest Air names aviation industry veteran Rakesh Gangwal to board
Gangwal is no stranger to discount carriers and the US aviation industry..Related stories.
Southwest Airlines Co., which is facing demands for sweeping leadership and business changes from activist Elliott Investment Management, has named aviation industry veteran Rakesh Gangwal to its board. The addition of Gangwal, the billionaire co-founder of InterGlobe Aviation, which controls Indianbudgetcarrier IndiGo...
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2024-07-08 17:15
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/tata-a-step-closer-to-merging-four-group-airlines-into-two-by-harmonising-operating-manuals-12764470.html
Tata a step closer to merging four group airlines into two by harmonising operating manuals
Air India and group companies are initiating the necessary crew training to action the harmonized processes, which will be another step in the direction towards building the new Air India and Air India Express..
Tata Group airlines on 8 July announced that it had completed the harmonisation of the operating procedures across its key functions, including harmonisation of the supporting manuals across all four carriers, reaching an important milestone in the merger of four airlines into two in the run-up to the Vistara-Air India...
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2024-07-08 15:46
moneycontrol.com
https://www.moneycontrol.com/news/business/mercedes-benz-india-posts-record-half-yearly-sales-at-9262-units-12764441.html
Mercedes-Benz India posts record half-yearly sales at 9,262 units
Mercedes-Benz India posts record half-yearly sales at 9,262 units.Related stories.
German luxury carmaker Mercedes-Benz on Monday reported a 9 per cent growth in sales at 9,262 units in India in the first half of 2024, its highest ever half-yearly sales in the country, riding on strong demand across categories and availability of volume models. The company had posted sales of 8,528 units in the Janua...
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2024-07-08 14:20
moneycontrol.com
https://www.moneycontrol.com/news/business/man-industries-gets-rs-1850-crore-order-from-international-firm-for-lng-project-12764440.html
MAN Industries gets Rs 1,850 crore order from international firm for LNG project
MAN Industries gets Rs 1,850 crore order from international firm for LNG project.
MAN Industrieson Monday said it has secured a pipe supply order worth Rs 1,850 crore from an international oil and gas player. This order entails supplying API 5L grade line pipes for an offshore LNG project through competitive international bidding, MAN Industries said in a statement. "MAN Industries demonstrates robu...
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2024-07-08 14:14
moneycontrol.com
https://www.moneycontrol.com/news/business/maruti-suzuki-plans-to-dispatch-35-of-total-vehicle-production-via-railways-in-7-8-years-12764439.html
Maruti Suzuki plans to dispatch 35% of total vehicle production via railways in 7-8 years
Maruti Suzuki plans to dispatch 35% of total vehicle production via railways in 7-8 years.Related stories.
Maruti Suzuki Indiaplans to utilise Indian Railways to transport 35 per cent of the vehicles produced across its factories over the next 7-8 years, according to MD and CEO Hisashi Takeuchi. The share of vehicle dispatches through railways scaled to 21.5 per cent in the 2023-24 fiscal from 5 per cent in 2014-15. The cou...
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2024-07-08 14:10
moneycontrol.com
https://www.moneycontrol.com/news/business/markets/lt-wins-mega-orders-to-build-3-5-gw-solar-pv-plants-in-middle-east-12764239.html
L&T wins mega orders to build 3.5 GW solar PV plants in Middle East
Shares of the company were trading 0.53 percent down at Rs 3,608 on NSE at 11:21 am..Related stories.
Larsen & Toubro's renewable energy arm has secured mega orders with an undisclosed Middle East-based player to develop Gigawatt scale Solar PV plants with a cumulative capacity of 3.5 GW, the infra major informed the exchanges on July 8. The deal also includes scope for grid interconnections encompassing pooling subst...
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2024-07-08 11:36
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/adani-group-investment-green-hydrogen-venture-12764108.html
Adani Green plans $9 billion infrastructure spend on green hydrogen in Phase one: Report
The plan includes the deployment of specialised ships for exporting hydrogen to Europe and Asia..
Adani Group is planning to invest $9 billion towards manufacturing and transportation infrastructure at its green hydrogen venture in Kutch, Gujarat, business dailyMinthas reported citing sources. The move will help the project aim at a capacity of one million tonnes per annum of green hydrogen in its initial phase, pr...
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2024-07-08 09:18
moneycontrol.com
https://www.moneycontrol.com/news/opinion/gig-workers-and-large-companies-a-symbiotic-relationship-under-threat-12764045.html
Gig Workers and Large Companies: A symbiotic relationship under threat
Most gig workers are typically unskilled youth and benefit both monetarily and in skills through this employment..Related stories.
The Indian gig economy has emerged in the past decade as a powerful engine of economic growth. Since the surge in the startup and new-age platform companies over the past decade, many of them continue to provide jobs to these “gig workers”. These gig workers are typically unskilled youth and benefit both monetarily...
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2024-07-08 08:40
moneycontrol.com
https://www.moneycontrol.com/news/business/markets/morning-scan-essential-stories-to-kickstart-your-day-12764104.html
Morning Scan: Essential stories to kickstart your day
Key news stories from leading newspapers..Related stories.
#1. June quarter to see Nifty50 companies post double-digit revenue and profit growth The firms that constitute the Nifty50 index are expected to report double-digit growth in aggregate revenue and profit for the June quarter, driven by some companies in the automobile, banking and finance, and pharmaceutical space. Th...
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2024-07-08 08:19
moneycontrol.com
https://www.moneycontrol.com/news/business/real-estate/signature-global-q1-sales-bookings-jump-3-5x-to-rs-3120-crore-on-strong-demand-12763796.html
Signature Global reports strong Q1 FY25 performance amid real estate sector challenges
Signature Global reports strong Q1 FY25 with INR 31.2 billion pre-sales, INR 12.1 billion collections, and reduced net debt to INR 9.8 billion, focusing on premium housing amid sector challenges..Related stories.
Signature Global a prominent player in India's real estate sector, has announced robust financial results for the first quarter of FY25 despite challenges in the market. The company reported a significant growth in pre-sales, collections, and a notable reduction in net debt. In Q1 FY25, Signature Global achieved pre-sa...
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2024-07-07 12:25
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/vedanta-says-it-has-arranged-250-million-to-settle-zambian-copper-mine-debts-12763372.html
Vedanta says it has arranged $250 million to settle Zambian copper mine debts
A bird flies past the logo of Vedanta installed on the facade of its headquarters in Mumbai.Related stories.
Vedanta Resources Ltd said on Friday it has arranged the financing it needs to start paying creditors of its Konkola Copper Mines in Zambia as it takes steps to revive operations after regaining control of the assets. The miner owned by Indian billionaire Anil Agarwal will have around the $250 million it needs to pay s...
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2024-07-05 22:54
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/govt-should-review-gst-rates-on-vehicles-powered-by-clean-fuels-rajiv-bajaj-12763350.html
Govt should review GST rates on vehicles powered by clean fuels: Rajiv Bajaj
At the launch of the first integrated motorcycle Freedom 125 here, Bajaj also voiced concerns about the use of "unsustainable subsidies" to promote electric vehicles (EVs)..Related stories.
Bajaj Auto Managing Director Rajiv Bajaj on Friday suggested that the government review GST rates on vehicles powered by clean fuels. At the launch of the first integrated motorcycle Freedom 125 here, Bajaj also voiced concerns about the use of ”unsustainable subsidies” to promote electric vehicles (EVs). Earlier, ...
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2024-07-05 22:06
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/adani-wilmar-q1-update-company-records-robust-volume-growth-at-13-yoy-12763269.html
Adani Wilmar Q1 update: Company records robust volume growth at 13% YoY
The quarter's growth was additionally supported by sales of non-basmati rice to Government-appointed agencies for exports..
Adani Wilmar Ltd, which is mainly into edible oil and food-FMCG businesses, on July 5 said that it has achieved robust volume growth of 13 percent year-on-year for the quarter ended 30 June, 2024, propelled by market-specific strategies in each category. With a robust product portfolio, the company also said it is acti...
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2024-07-05 19:32
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/dvc-to-invest-rs-20000-crore-in-solar-energy-projects-by-2030-12763255.html
DVC to invest Rs 20,000 crore in solar energy projects by 2030
The corporation, created for flood control and development in the Damodar Valley, envisions investment worth Rs 50,000-60,000 crore by 2030 to enhance thermal, pump storage power plants and solar energy.Related stories.
Damodar Valley Corporation (DVC) on Friday announced that it has planned to invest Rs 20,000 crore by 2030 to install nearly 4,000 MW of solar capacity, a top official said. The corporation, created for flood control and development in the Damodar Valley, envisions investment worth Rs 50,000-60,000 crore by 2030 to enh...
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2024-07-05 19:16
moneycontrol.com
https://www.moneycontrol.com/automobile/bajaj-auto-stock-jumps-after-launch-of-worlds-first-cng-powered-bike-article-12763052.html
Bajaj Auto stock jumps after launch of world's first CNG-powered bike
The motorcycle was unveiled by Rajiv Bajaj, managing director of Bajaj Auto, in the presence of Union road transport and highways minister Nitin Gadkari in Pune..Related stories.
Shares ofBajaj Autojumped over 2 percent on July 5 after the company launched the world’s first CNG-powered bike. The stock price of the automaker closed at Rs 9,634.1 on July 5, on the National Stock Exchange, up 1.83 percent from the previous close.The two-wheeler maker’s new offering Freedom 125 starts at an ex-...
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2024-07-05 16:29
moneycontrol.com
https://www.moneycontrol.com/news/business/coffee-day-enterprises-total-default-at-rs-433-91-crore-in-q1-fy25-12763028.html
Coffee Day Enterprises' total default at Rs 433.91 crore in Q1 FY25
Coffee Day Enterprises' total default at Rs 433.91 crore in Q1 FY25.Related stories.
Coffee Day EnterprisesLtd has reported a total default of Rs 433.91 crore on payments of interest and repayment of principal amount on loans from banks, financial institutions, and unlisted debt securities as NCDs and NCRPS for the quarter ended June 30, 2024. Coffee Day Enterprises Ltd (CDEL) which is pairing its debt...
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2024-07-05 14:36
moneycontrol.com
https://www.moneycontrol.com/news/business/markets/godrej-agrovet-promoters-to-acquire-2-16-stake-via-block-deal-12762984.html
Godrej Agrovet promoters to acquire 2.16% stake via block deal
On July 5, the shares of the company were trading down 1.18 percent at Rs 788.4 on NSE at 13:12 pm. However, the stock has gained over 46 percent since June 5. On July 2, the stock touched its 52-week high of Rs 841.94 on NSE..Related stories.
Godrej Agrovet’s (GAVL’s) promoter group members on July 5 announced their intention to acquire 2.16 percent stake in the company through a block deal, the firm said in a stock exchange filing. Promoters- Jamshyd Naoroji Godrej, Navroze Jamshyd Godrej, Smita Godrej Crishna, Nyrika Holkar and Freyan Crishna Bieri- s...
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2024-07-05 13:30
moneycontrol.com
https://www.moneycontrol.com/news/business/hdfc-bank-said-to-mull-loan-portfolio-sale-amid-growth-scrutiny-12762955.html
HDFC Bank said to mull loan portfolio sale amid growth scrutiny
HDFC Bank said to mull loan portfolio sale amid growth scrutiny.Related stories.
HDFC BankLtd. is mulling the sale of a loans portfolio, according to people familiar with the matter, amid heightened regulatory scrutiny on the nation’s lenders as their credit growth surges. India’s biggest private sector bank has approached public sector lenders, non-banking finance companies as well as some ins...
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2024-07-05 12:55
moneycontrol.com
https://www.moneycontrol.com/news/opinion/electric-vehicle-makers-need-to-shorten-design-to-market-timeline-12761304.html
Electric vehicle makers need to shorten design-to-market timeline
The government is incentivizing EV manufacturers by offering various incentives. (Representational image).Related stories.
By┬аFaraz Khan and Saket Mishra┬а Technology associated with electric vehicles (EV) is rapidly evolving and by certain estimates total cost of ownership for EVs has already fallen below that of internal combustion engine (ICE) vehicles. Some reports suggest that EV sales in India contributed more than 5% of total vehic...
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2024-07-05 12:45
moneycontrol.com
https://www.moneycontrol.com/news/business/markets/thermax-shares-surge-after-subsidiary-wins-rs-500-crore-order-in-botswana-12762938.html
Thermax shares surge after subsidiary wins Rs 500-crore order in Botswana
The stock price of Thermax Limited jumped 3.66 percent to Rs 5,470 at 12:25 pm on NSE..Related stories.
Shares ofThermax Limitedsurged after Thermax Group announced that its subsidiary secured an order worth Rs 513 crore to set up a 600 MW greenfield energy project in Botswana, Southern Africa. The stock price of Thermax Limited jumped 3.66 percent to Rs 5,470 at 12:25 pm on NSE. The Pune-headquartered group’s wholly-o...
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2024-07-05 12:43
moneycontrol.com
https://www.moneycontrol.com/news/business/kalyan-jewellers-reports-27-revenue-growth-in-q1-fy25-plans-expansion-12762884.html
Kalyan Jewellers reports 27% revenue growth in Q1 FY'25, plans expansion
Kalyan Jewellers reports 27% revenue growth in Q1 FY'25, plans expansion.Related stories.
Kalyan Jewellers on Friday reported a 27 per cent year-on-year increase in consolidated revenue for the first quarter of the financial year 2024-25, driven by strong performance in both Indian and Middle Eastern markets. The company had reported a consolidated net revenue of Rs 4,376 crore in the first quarter (April-J...
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2024-07-05 11:50
moneycontrol.com
https://www.moneycontrol.com/news/business/foxconn-chairman-young-liu-to-visit-india-this-year-12762828.html
Foxconn Chairman Young Liu to visit India this year
Foxconn Chairman Young Liu to visit India this year.
Taiwanese electronics giant Foxconn Chairman Young Liu plans to visit India this year. Liu received the Padma Bhushan Award from India Taipei Association Director General Manharsinh Yadav at Taipei on July 4. He was conferred with Padma Bhushan, the third highest civilian award, on the eve of the 75th Republic Day this...
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2024-07-05 10:44
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/raymond-board-approves-plan-for-real-estate-business-demerger-12762410.html
Raymond board approves plan for real estate business demerger
There is no cash consideration or any other form of consideration.Related stories.
Textile and real estate playerRaymond Ltdon July 4 said that its board has approved the demerged of its real estate business, Raymond Realty Limited, to unlock value of the business as a whole. The demerger plan aims to "exploit the growth potential of the real estate business and attract fresh set of investors / strat...
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2024-07-04 18:30
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/indias-hopes-for-tesla-investment-cool-as-elon-musk-ceases-contact-12762281.html
India’s hopes for Tesla investment cool as Elon Musk ceases contact
Musk’s team hasn’t made any further inquiries with officials in New Delhi after the billionaire postponed a visit to India in late April.Related stories.
India doesn’t expect Tesla Inc. to move forward with an investment in the country any time soon after executives at Elon Musk’s electric carmaker stopped contacting them, according to people familiar with the matter. Musk’s team hasn’t made any further inquiries with officials in New Delhi after the billionaire...
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2024-07-04 15:14
moneycontrol.com
https://www.moneycontrol.com/news/business/ubs-loses-another-senior-india-banker-with-strategy-yet-unclear-12762254.html
UBS loses another senior India banker with strategy yet unclear
UBS loses another senior India banker with strategy yet unclear.Related stories.
UBS Group AG’s India operation is losing another senior executive to competitors, at a time when the firm is still charting its strategy to manage wealth in the country, according to people familiar with the matter. Aditya Goenka, a Mumbai-based managing director in structured lending, is leaving to join HSBC Holding...
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2024-07-04 14:34
moneycontrol.com
https://www.moneycontrol.com/news/business/want-continuity-of-policy-supporting-evs-for-next-8-10-years-mercedes-benz-india-md-ceo-12762194.html
Want continuity of policy supporting EVs for next 8-10 years: Mercedes-Benz India MD & CEO
Want continuity of policy supporting EVs for next 8-10 years: Mercedes-Benz India MD & CEO.Related stories.
Mercedes-Benz India wants the government to commit to continuity in policies that support electric mobility for the next eight to ten years, for stable and better planning towards zero emission mobility, its Managing Director and CEO Santosh Iyer said on Tuesday. Besides, the company feels that providing the incentives...
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2024-07-04 13:36
moneycontrol.com
https://www.moneycontrol.com/news/business/markets/pnb-housing-finance-to-seek-100-mn-in-placement-report-12751843.html
PNB Housing block deal: Asia Opportunities, General Atlantic to sell 4.2% stake for Rs 830 cr, says CNBC Awaaz
PNB Housing | CMP: Rs xx per share | The stock tumbled over 4 percent on June 20 as around 1.36 crore shares or 5.2 percent equity changed hands in multiple blocks. Though Moneycontrol could not ascertain buyers or sellers in the block deal window immediately, but sources cited by CNBC-Awaaz indicated General Atlantic ...
Two shareholders of PNB Housing Finance Ltd. offer about 10.8 million shares or 4.2 percent stake worth Rs 830 crore via block deal, according to terms of the deal obtained by CNBC Awaaz Asia Opportunities V (Mauritius) Ltd. and General Atlantic Singapore Fund FII Pte are each selling about 5.4 million shares. The flo...
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2024-07-04 13:36
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/foxconns-bharat-fih-faces-potential-factory-closure-as-orders-dry-up-report-12762049.html
Foxconn's Bharat FIH faces potential factory closure as orders dry up: Report
Former board members of Bharat FIH have cited a lack of clarity in the company's direction as the reason for their departures..Related stories.
Bharat Foxconn International Holding (FIH) is considering closing its unit in Andhra Pradesh’s Siri City following a sharp drop in orders from key client Xiaomi, the Economic Times has reported, the latest trouble for the electronics manufacturer. The Foxconn group company was already in trouble after the exit of th...
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2024-07-04 12:53
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/tata-consumer-gets-tax-demand-of-rs-171-83-crore-from-income-tax-department-12758764.html
Tata Consumer gets tax demand of Rs 171.83 crore from Income Tax Department
Tata Consumer Products Ltd.Related stories.
FMCG firm Tata Consumer Products Ltd on 29 June said it has received a tax demand of Rs 171.83 crore from the Income Tax department for the assessment year 2019-20, firm said in a stock exchange filing. In a regulatory filing it said," The Company has received an Assessment Order dated June 27, 2024, under section 143(...
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2024-07-04 12:27
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/bank-of-baroda-gets-rs-1067-82-crore-income-tax-demand-order-from-i-t-department-12759162.html
Bank of Baroda gets Rs 1067.82 crore income tax demand order from I-T department
The bank's gross non-performing asset (NPA) stood at 2.92 percent, down from 3.79 percent in the corresponding quarter last year. On the other hand, net NPA for the quarter stood at 0.68 percent as compared to 0.89 percent a year ago.Related stories.
State-owned Bank of Baroda in a regulatory filing has said that the bank has received a demand order of Rs 1067.82 crore under section 156 of the Income Tax Act, 1961, pertaining to AY 2017-18. In a regulatory filing, the Bank of Baroda said, "The Bank is under the process of filing an appeal before the Commissioner of...
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2024-07-04 12:19
moneycontrol.com
https://www.moneycontrol.com/news/business/suzuki-motor-launches-rs-340-crore-fund-next-bharat-to-support-social-impact-startups-12762094.html
Suzuki Motor launches Rs 340 crore fund 'Next Bharat' to support social impact startups
Suzuki Motor launches Rs 340 crore fund 'Next Bharat' to support social impact startups.Related stories.
Japanese automobile firm Suzuki Motor on Thursday launched its first investment fund in India--Next Bharat Ventures--a Rs 340 crore fund dedicated to fostering impact entrepreneurs who create value in Tier-II and below geographies. This Suzuki initiative aims to support social impact startups in the domains of agricult...
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2024-07-04 12:12
moneycontrol.com
https://www.moneycontrol.com/news/business/inox-wind-to-become-debt-free-company-post-rs-900-crore-promoter-infusion-12761975.html
Inox Wind to become debt-free company post Rs 900 crore promoter infusion
Inox Wind to become debt-free company post Rs 900 crore promoter infusion.
Inox Wind Ltd on Thursday said its promoter Inox Wind Energy (IWEL) has infused Rs 900 crore into the company, following which the wind energy solutions provider will become a net debt-free company. In a statement Inox Wind Ltd (IWL) on Thursday announced the completion of infusion of Rs 900 crore into the company by i...
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2024-07-04 10:07
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/aavas-financiers-big-bang-stake-sale-brewing-as-kedaara-partners-group-explore-full-exit-12761775.html
Aavas Financiers: Big-bang stake sale brewing as Kedaara, Partners Group explore full exit
Currently, both the private equity players, classified under the promoter category, own a combined 26.47 percent stake in Aavas Financiers..Related stories.
A mega stake sale is in the works at Aavas Financiers Ltd (formerly known as AU Housing Finance Ltd), as Kedaara Capital and Partners Group are weighing a complete exit eight years after jointly acquiring the affordable housing finance firm, four persons in the know told Moneycontrol. Currently, both the private equity...
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2024-07-03 22:01
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/kotak-mahindra-bank-issues-clarification-on-public-statements-made-by-hindenburg-12760914.html
Kotak Mahindra Bank issues clarification on public statements made by Hindenburg
Kotak Mahindra Bank.Related stories.
Kotak Mahindra Bank on July 2 said that the Securities and Exchange Board of India (SEBI) has issued a show cause notice dated June 26 to Hindenburg Research, Kingdon, persons related to them as well as K India Opportunities Fund Limited. SEBI's allegations relate to short selling of the stock of Adani Enterprises Ltd....
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2024-07-03 17:46
moneycontrol.com
https://www.moneycontrol.com/news/opinion/tesla-sales-only-elon-musks-robotaxi-can-save-investors-now-12761552.html
Tesla Sales: Only Musk’s Robotaxi can save investors now
Dreaming of a robotaxi future. (Source: Bloomberg/Getty Images).Related stories.
Tesla Inc is, according to its promoters — very much including Chief Executive Elon Musk — an artificial intelligence giant trapped in a carmaker’s body. That much was evident from quarterly sales and production numbers, and the market’s reaction to them, on Tuesday morning. Tesla made about 411,000 vehicles...
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2024-07-03 16:39
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/m-shares-rise-12761359.html
M&M selects ABB India's paint technology for new EV facility; shares rise
The deployment will make M&M the first original equipment manufacturer (OEM) to use the technology for painting contrasting roofs and pillars, according to the statement..Related stories.
CarmakerMahindra & Mahindrahas selected ABB India’s PixelPaint technology for its new electric vehicle paint facility, the latter said in a stock exchange filing on July 3. The firm said the technology, which uses a paint head similar to an inkjet printer, will begin serial production in 2025. The share price ofABB I...
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2024-07-03 13:04
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/mega-sale-of-advent-backed-bharat-serums-vaccines-who-are-the-3-suitors-in-the-final-lap-12761357.html
Mega sale of Advent-backed Bharat Serums & Vaccines: Who are the 3 suitors in the final lap?
In May, Moneycontrol reported that a clutch of global private equity funds had evinced interest in the BSV sale process. (Representative image).Related stories.
The ongoing big-bang sale process of private equity major Advent International-backed top biopharmaceutical firm Bharat Serums & Vaccines ( BSV) has boiled down to a three-way race, four persons in the know told Moneycontrol on the condition of anonymity. "A consortium of Swedish private equity firm EQT and ADIA ( Abu ...
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2024-07-03 12:47
moneycontrol.com
https://www.moneycontrol.com/news/business/stocks/jsw-infra-arm-to-develop-cargo-berth-at-vo-chidambaranar-port-in-tamil-nadu-12761196.html
JSW infra arm to develop cargo berth at VO Chidambaranar Port in Tamil Nadu
Under the agreement, JSW Infrastructure will construct a new 7 million metric tonnes per annum (MPTA) cargo berth..
JSW Infrastructure subsidiary JSW Tuticorin Multipurpose Terminal has finalised a concession agreement with the VO Chidambaranar Port Authority in Tamil Nadu for developing a berth. The agreement, signed on July 2, entails the development and mechanisation of North Cargo Berth-III (NCB-III) for handling dry bulk cargo ...
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2024-07-03 10:34
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/paytm-payments-bank-clash-with-auditor-over-financial-viability-amid-regulatory-curbs-report-12761080.html
Paytm Payments Bank clash with auditor over financial viability amid regulatory curbs: Report
Paytm Payments Bank Ltd (PPBL) is reportedly in a dispute with its auditor, JC Bhalla & Co.Related stories.
Paytm Payments Bank Ltd (PPBL) has run into a dispute with its auditor JC Bhalla & Co over the certification of its accounts for the fiscal year 2024, theEconomic Timesreported. Given the regulatory restrictions that have brought its business to a near standstill, the auditor has raised concerns about the bank's viabil...
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2024-07-03 08:48
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/som-distilleries-shares-surge-4-after-madhya-pradesh-hc-stays-licence-suspension-12760651.html
Som Distilleries shares surge 4% after Madhya Pradesh HC stays licence suspension
The stock of the company was trading 3.51 percent higher at Rs 118.52 on NSE at 15:16 pm..Related stories.
Shares ofSom Distilleries and Breweries Limitedsurged more than 3 percent on July 2 after the company informed that the suspension of its licence was stayed by the Madhya Pradesh High Court on June 28. The stock of the company was trading 3.51 percent higher at Rs 118.52 on NSE at 15:16 pm. Following the stay order, th...
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2024-07-02 15:47
moneycontrol.com
https://www.moneycontrol.com/news/business/markets/adani-ports-posts-12-jump-in-june-cargo-volumes-shares-in-red-12760468.html
Adani Ports posts 12% jump in June cargo volumes; shares in red
The shares of the company were trading at Rs 1,471.8, down 0.18 percent on NSE at 12:33 pm..Related stories.
Adani Ports and Special Economic Zone Limited (APSEZ) on July 2 reported a jump in its cargo volume, the firm said in a monthly business update. APSEZposted a 12 percent year-on-year (YoY) surge in cargo volumes for June at 37 MMT, which was led by 33 percent YoY growth in containers and 8 percent YoY rise in liquids &...
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2024-07-02 12:47
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/nvidia-set-to-face-french-antitrust-charges-report-12760020.html
Nvidia set to face French antitrust charges: Report
The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei.Related stories.
Nvidia is set to be charged by the French antitrust regulator for allegedly anti-competitive practices, people with direct knowledge of the matter said, making it the first enforcer to act against the computer chip maker. The French so-called statement of objections or charge sheet would follow dawn raids in the graphi...
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2024-07-01 21:59
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/blackrock-enters-booming-market-for-stock-etfs-with-a-100-hedge-12759997.html
BlackRock enters booming market for stock ETFs with a 100% hedge
The S&P 500 gained around 14.5% in the first half of the year, buoyed by solid US growth and soaring megacap technology stocks.Related stories.
BlackRock Inc. is the latest asset manager to launch an exchange-traded fund that offers a way to ride the stock rally — while hedging 100% of the downside if markets plunge. The iShares Large Cap Max Buffer Jun ETF is set to begin trading under the ticker MAXJ on Monday. Using options, it will provide investors with...
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2024-07-01 21:08
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/qualcomm-sponsors-manchester-united-amid-bigger-consumer-pc-push-12759982.html
Qualcomm sponsors Manchester United amid bigger consumer PC push
QualcommŌĆÖs sponsorship of the Manchester United shirt signifies its commitment to raising awareness of the Snapdragon brand, said Chief Marketing Officer Don McGuire. ItŌĆÖs part of a broader and sustained effort to help build the companyŌĆÖs position in PCs and other categories.Related stories.
Qualcomm Inc. has become the new front-of-shirt sponsor for Manchester United Football Club ŌĆö an attempt to boost awareness of its Snapdragon brand among consumers amid a broader push into personal computing. The California-based chipmaker is paying for a prominent brand position with one of the best-known clubs in t...
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2024-07-01 20:46
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/robinhood-acquires-ai-driven-investment-advice-platform-pluto-12759975.html
Robinhood acquires AI-driven investment-advice platform Pluto
Robinhood has expanded in recent years into services including cryptocurrency, retirement products and credit cards.
Robinhood Markets Inc. agreed to buy the artificial-intelligence research platform Pluto Capital Inc. to bring more tailored investment strategies and analysis to the retail brokerage’s users. Founded by Jacob Sansbury, 24, Pluto is best known for AI-driven personalized investment advice and real-time analytics. Term...
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2024-07-01 20:07
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/uks-unite-union-suspends-strike-at-tata-steel-plant-12759932.html
UK's Unite union suspends strike at Tata Steel plant
The union said the current industrial action and next week’s strike had been suspended..
Tata Steel workers in Britain have suspended a planned all-out strike and overtime ban after the company agreed to negotiations about future investment, the Unite trade union said on July 1. Around 1,500 Tata Steel TISC.NS workers at Tata's Port Talbot and Llanwern sites were due to begin an indefinite strike from July...
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2024-07-01 18:41
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/samsung-electronics-union-in-south-korea-declares-strike-12759934.html
Samsung Electronics union in South Korea declares strike
An employee walks past the logo of Samsung Electronics during a media tour at Samsung Electronics' headquarters in Suwon, South Korea.
Samsung Electronics' union in South Korea said on Monday it would launch a general strike until its demands for better pay and time off were met. The National Samsung Electronics Union (NSEU), whose roughly 28,000 members make up over a fifth of the firm's workforce, is asking the company for commitments such as improv...
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2024-07-01 18:38
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/patanjali-foods-to-buy-patanjali-ayurveds-non-food-business-for-rs-1100-cr-12759816.html
Patanjali Foods to buy Patanjali Ayurved's non-food business for Rs 1,100 cr
Patanjali Ayurved's non-food business presently caters to dental care, skin care, home care, and hair care..Related stories.
Patanajali Foods on July 1 said that its board has approved the proposal to buy its parent company Patanjali Ayurved's non-food business for Rs 1,100 crore in tranches. The acquisition as a going concern on a slump sale basis will result in expansion of the product portfolio of the company, it said in a regulatory fili...
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2024-07-01 17:46
moneycontrol.com
https://www.moneycontrol.com/news/business/companies/nhrc-says-report-on-foxconn-hiring-at-tamil-nadu-plant-raises-discrimination-concerns-12759702.html
NHRC says report on Foxconn hiring at Tamil Nadu plant raises discrimination concerns
Job aspirants talk with a hiring agent outside the Foxconn factory, where workers assemble iPhones for Apple, in Sriperumbudur, near Chennai.Related stories.
India's human rights watchdog said on Monday it had asked government officials to examine reported discrimination by Foxconn, after a Reuters investigation found the major Apple supplier has been rejecting married women from iPhone assembly jobs in the country. In a statement, the National Human Rights Commission (NHRC...
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2024-07-01 15:27