Abha Power and Steel IPO: The offer that closed for subscription on 29 November saw a strong good response being subscribed 18 times. The allotment for the Abha Power and Steel IPO is expected to be finalised today. Here are steps to check allotment status online, GMP as focus shifts to listing The tentative listing date for Abha Power and Steel shares on NSE SME had been fixed as Wednesday, December 4, 2024. The Abha Power and Steel IPO's book running lead manager is Horizon Management Privat...Read More
TrueNoord, a leading regional aircraft leasing specialist, has successfully acquired seven ATR 72-600 aircraft from the German asset management firm, GOAL Aircraft Leasing, acting on behalf of KGAL. This strategic acquisition boosts TrueNoord's fleet to over 100 aircraft and adds three new European lessee airlines to its portfolio, further solidifying its presence across the continent. The full integration of these aircraft was completed last week. The seven ATR 72-600s are currently leased to ...Read More
Asset quality metrics are weakening in the past few quarters in some segments. This has necessitated a recalibration of growth strategies, especially in unsecured loans and microfinance Unsecured loans given by Non Banking Finance Companies (NBFCs) and credit to microfinance segments, accounting for 23% of the overall NBFC Asset Under Management (AUM) are expected to be impacted the most in the current and next fiscals according to CRISIL Ratings' outlook on the sector. Krishnan Sitaraman, Chie...Read More
IIT Bombay Placement: The Indian Institute of Technology (IIT) Bombay has kicked off its placement season, with a student securing an impressive Rs 2.2 crore job offer from Da Vinci Derivatives, a fintech trading company. The prestigious institute witnessed a strong start to the placement season, with over 40 companies participating on the first day itself. This year, IIT Bombay students have already bagged 258 pre-placement offers (PPOs). Several multinational and Indian giants, including pro...Read More
By diluting a part of its stake, or by selling shares worth $500 million, Prosus made gains of over $2 billion just from betting on Swiggy. Food tech and grocery delivery company Swiggy reported a revenue of $750 million (around Rs 6,300 crore) in the first half of financial year 2025 (H1FY25), up 40 percent from $536 million (about Rs 4,500 crore) recorded during the same period last year, Prosus, one of the company's largest shareholders, said in its half yearly disclosures. During the same ...Read More
As per Moneycontrol's calculations, a 7 per cent growth in the remaining two quarters will put India's GDP at 6.5 per cent. The Indian economy would find it challenging to achieve over 7 per cent growth for the fourth consecutive year, economists said. They pointed out that the second-quarter (Q2) Gross Domestic Product (GDP) data, which was announced on November 29, has made the task even more daunting for the government. "A sharper than expected growth slowdown in Q2 has tilted risks to our ...Read More
A pharmaceutical stock has hit the 20 percent upper circuit limit following the announcement of its plans to enter the real estate business. This move has sparked investor interest as the company shifts focus to a new sector. During Monday's trading session, the share price of Par Drugs & Chemicals Ltd locked a 20 percent upper circuit of Rs.348.45 per share, from its previous close of Rs.290.40 apiece. Over the past six months, the stock has delivered over 60 percent returns. Par Drugs and Ch...Read More
Ola Electric continued to dominate the market in November as well and maintained market leadership, followed closely by TVS Motor and Bajaj Auto The domestic Electric Two-Wheeler (E2W) market continues its upward sales trajectory with annual sales exceeding the milestone of one million in November 2024. As per the data available on Vahan, E2W registrations went up by nearly a 30 percent YoY (year-on-year) in November 2024, reaching 1,18,944 units The country's e2W sales for the first 11 months...Read More
Mumbai (Maharashtra) [India], December 2: Dosti Realty, a leading brand in the real estate sector recognised for delivering exceptional residential experiences and premium lifestyle projects across the Mumbai Metropolitan Region has announced the "Good Buy 2024" campaign for aspiring homeowners. An ideal way to bid farewell to the year, the Dosti Realty campaign is designed to resonate with the spirit of the year-end, inspiring homebuyers to make meaningful investments that shape their future. ...Read More
New Delhi [India], December 2: The IVCA GreenReturns Summit 2024 commenced today in New Delhi, convening over 400 visionaries, investors, policymakers, and entrepreneurs to chart a transformative path for India's green economy. The Summit is dedicated to aligning India's climate goals with its trillion-dollar economic aspirations for a 'Viksit Bharat,' spotlighting high-impact investment opportunities, addressing funding gaps, and driving actionable solutions for net-zero and climate adaptation....Read More
HONG KONG SAR - Media OutReach Newswire - 2 December 2024 - Long recognised as a land of luxury, Hong Kong has levelled up its luxury hub appeal following the Leaders of Luxury Summit 2024. Organised by Robb Report Hong Kong, the summit brought together luxury industry titans to discuss pivotal topics that "Redefine Luxury Through a Global Lens" at Regent Hong Kong on November 26-28, 2024. According to the latest "2024 Billionaire Census" report from Altrata, the city is currently world's no. 2...Read More
New Delhi [India], December 2: Repaying an Education Loan requires careful planning to avoid financial stress later on. Many students today take out loans to fund their higher studies, both in India and abroad, thanks to attractive interest rates and easy application processes. However, managing repayment is key to staying on top of your finances. In this guide, we'll explore effective ways to plan and manage your Education Loan repayment. Here's how you can manage your education loan repayment...Read More
SHANGHAI, Dec. 02, 2024 (GLOBE NEWSWIRE) -- MultiMetaVerse Holdings Limited (NASDAQ: MMV) ("MMV" or the "Company"), a leading animation and entertainment company for young consumers in China, today announced that it has signed a definitive share exchange agreement (the "Share Exchange Agreement") with the shareholders (the "Transferors") of Bowong AI Limited ("Bowong Cayman"), which, after a series of restructuring transactions, is expected to indirectly hold 100% equity interests in Bowong Tech...Read More
Finance Ministry has on December 2 scrapped the windfall tax on aviation turbine fuel (ATF), crude products, diesel and petrol products. "Notification nos 29/2024 and 30/2024 dated 2.12.2024 issued with immediate effect for withdrawal of windfall tax i.e special additional excise duty (SAED) levied on production of crude and export of ATF, SAED and Road and Infrastructure Cess (RIC) on export of petrol and diesel. Notification laid in the parliament," said Finance Ministry. Imposed in July 202...Read More
New Delhi: Luxury carmaker Audi on Monday said it will hike prices of its entire model range by up to 3 per cent from January next year, to offset the impact of rising input and transportation costs. The price hike will be effective from January 1, 2025, the German automaker said in a statement. "This correction is essential for the company and our dealer partners to ensure sustainable growth. We remain committed to minimising the impact of the price hike on our valued customers," Balbir Singh ...Read More
Cybercrime is quickly increasing in India, with reports surfacing daily about victims losing large sums of money to scammers. These scammers often use tactics like threatening a "digital arrest" to instill fear and pressure individuals into transferring money. They typically operate from foreign countries to evade capture by law enforcement. The Indian government, including Prime Minister Modi, is actively raising awareness about these scams. Recently, the Department of Telecommunications (DoT)...Read More
MahaRERA has so far issued 1,163 warrants worth ₹705.62 crore involving 442 real estate projects in Maharashtra. Of this, the MahaRERA has recovered around 29% or around ₹200 crore. Around ₹200 crore worth of compensation has so far been recovered from 283 recovery warrants issued to 139 real estate projects, MahaRERA said in a statement. Also Read: MahaRERA puts grading of real estate projects in Maharashtra on hold MahaRERA issues recovery orders against real estate developers in case of def...Read More
New Delhi: India's passenger vehicle market witnessed varied performance across major automakers in November 2024. While Maruti Suzuki, Mahindra & Mahindra, and Tata Motors posted year-on-year growth, Hyundai faced challenges in its domestic market. Maruti Suzuki, the country's largest carmaker, reported strong growth in total passenger vehicle sales, reaching 141,312 units during the month. This marked an increase from 134,158 units sold in November 2023. However, the company's sales in Octob...Read More
A petition has been lodged before the Supreme Court contesting the recent decision by the Delhi High Court to designate 70 lawyers as Senior Advocates. A petition has been lodged before the Supreme Court contesting the recent decision by the Delhi High Court to designate 70 lawyers as Senior Advocates. The petition was brought before Chief Justice of India (CJI) Sanjiv Khanna, who was asked for an urgent listing of the matter. However, the CJI emphasized that oral mentioning would not be permit...Read More
CHENNAI: Saying that a historical amount of downpour hit many districts in north Tamil Nadu, PMK president Anbumani Ramadoss urged the state government to send additional rescue forces to the affected areas. In a statement, Anbumani said that during the 24 hours, Uthangarai in Krishnagiri district received 50cm of rainfall, which is the highest in the last 300 years. Moreover, Harur in the Dharmapuri district and Tirupalapanthal in Kallakurichi have received 33cm and 32cm of rain, respectively...Read More
Amante Capital, KKR's dedicated European hospitality platform, will serve as managing partner to the joint venture LONDON--(BUSINESS WIRE)--Leading investment firms KKR and The Baupost Group today announced a joint venture to purchase a portfolio of 33 Marriott International (NASDAQ:MAR) hotels across the UK from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Amante Capital, KKR's vertically integrated European hospitality platform, will serve as managing partner for th...Read More
London stocks were set to kick off the final month of the year steady, as investors mulled a jump in UK house prices and encouraging Chinese manufacturing data. There was nothing of note out on the corporate front, but data from Nationwide showed that house prices rose 3.7% on the year in November, up from 2.4% the month before. This marked the fastest annual growth since November 2022. On the month, they were up 1.2%, having risen just 0.1% in October. This was the largest monthly gain since ...Read More
Anuj Kumar, Director & CEO of CAMS, highlights that despite recent market corrections, the company expects FY25 to be one of its strongest years. CAMS continues to dominate by winning 70-80% of new bids, focusing on execution and margin expansion, and anticipates significant revenue and profit growth driven by mutual funds and associated business lines.Anuj Kumar, Director & CEO, CAMS, says there has been some market correction and some flattening of the mood in the last two months. But as thing...Read More
PARIS (Reuters) - France's far-right National Rally (RN) party will likely back a no-confidence motion against the government in the coming days unless there is a "last minute miracle", RN president Jordan Bardella said on Monday. RN lawmaker Marine Le Pen has given Prime Minister Michel Barnier until Monday to yield to the party's budget demands or face the threat that they would back a no-confidence motion against his government, which would lead to its collapse. "The RN will trigger the no-...Read More
Hyderabad: President-elect Donald Trump's warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US law permits such an action, former RBI Governor Duvvuri Subbarao said on Monday. He also said even for BRICS, there are internal differences about bringing out an alternative to the US Dollar. The nine-member group that includes India, Russia, China, and Brazi...Read More
(Reuters) - The euro dropped versus a strengthening dollar on Monday, with investors concerned about political developments in France. France's far-right National Rally (RN) party will likely back a no-confidence motion against the government in the coming days unless there is a "last minute miracle", RN president Jordan Bardella said on Monday. The growing uncertainty over France's budget pushed the risk premium on the government's bonds to a more than 12-year high last week....Read More
LONDON - Bigblu Broadband plc (AIM: BBB.L), a significant provider of super-fast and ultra-fast alternative broadband services, has conditionally agreed to sell its Australian subsidiary, SkyMesh Pty Ltd, to SKM Telecommunication Services Pty Ltd for up to AUD$50.20 million (approximately £25.67 million). SKM Telecommunication, formed by Salter Brothers Asset Management for the acquisition, will pay the headline price in a combination of cash, shares, and deferred cash considerations. The sale ...Read More
Anuj Kumar, Director & CEO of CAMS, highlights that despite recent market corrections, the company expects FY25 to be one of its strongest years. CAMS continues to dominate by winning 70-80% of new bids, focusing on execution and margin expansion, and anticipates significant revenue and profit growth driven by mutual funds and associated business lines.Anuj Kumar, Director & CEO, CAMS, says there has been some market correction and some flattening of the mood in the last two months. But as thing...Read More
India's manufacturing sector growth fell to a joint 11-month low, restricted by competitive conditions and inflationary pressures India's manufacturing sector growth fell to a joint 11-month low of 56.5 in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in October to 56.5 in November, signalling a s...Read More
RBI MPC Meeting December 2024: Experts say the MPC may set the stage for a February rate cut and ease some liquidity conditions this time. The RBI MPC's 3-day meeting is set to begin on Wednesday, December 4, and the monetary policy decision will be announced on December 6, the last day of the meeting. Economists expect the RBI's rate-setting committee to maintain the status quo on the key repo rate but they said the central bank might ease some liquidity conditions by cutting CRR or undertakin...Read More