Stay updated with the latest rediff news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on rediff topics.
Mumbai, Jul 18 (PTI) Equity benchmark indices Sensex and Nifty declined in initial trade on Friday dragged by foreign fund outflows and a muted start to the earnings season. Analysts said sentiment among banking stocks is especially cautious in response to Axis Bank's latest financial results, which fell short of market expectations. The 30-share BSE Sensex declined 185.67 points to 82,073.57 in early trade. The 50-share NSE Nifty dropped 45.4 points to 25,066.05. From the Sensex firms, Axis ...Read More >
New Delhi, Jul 15 (PTI) Crude oil futures on Tuesday fell Rs 65 to Rs 5,706 per barrel, as participants trimmed their positions tracking weak demand in the spot market. On the Multi Commodity Exchange, crude oil for August delivery declined Rs 65 or 1.13 per cent to Rs 5,706 per barrel in 7,926 lots. Analysts said the prices were affected following participants offloading their holdings amid weak demand in the spot market. Globally, West Texas Intermediate crude oil was trading 0.58 per cent ...Read More >
New Delhi, Jul 14 (PTI) IT services firm HCL Technologies on Monday posted a 9.7 per cent drop in consolidated net profit for the June quarter, hurt by higher expenses and one-time impact of a client bankruptcy, but raised the lower end of revenue growth outlook for the full fiscal on booking expectations in coming quarters. The firm had logged a net profit (attributable to owners of the company) of Rs 4,257 crore in the year-ago period, according to a regulatory filing. HCLTech CEO and MD C V ...Read More >
India's Global Capability Centres (GCCs) are projected to contribute USD 200 billion to the economy by 2030, creating millions of jobs. Finance Minister Nirmala Sitharaman highlights the sector's rapid growth and potential. New Delhi, Jul 14 (PTI) Finance Minister Nirmala Sitharaman on Monday said Global Capability Centres (GCC) could contribute up to USD 200 billion to the Indian economy and create additional jobs by 2030. Speaking at the CII-GCC Business summit, Sitharaman said on an average ...Read More >
Mumbai, Jul 9 (PTI) Stock markets closed lower on Wednesday due to selling in IT and oil & gas shares as investors turned cautious ahead of the start of earnings season and mixed global trends. Dragged by late selling, the 30-share BSE Sensex fell by 176.43 points or 0.21 per cent to settle at 83,536.08. During the day, it lost 330.23 points or 0.39 per cent to 83,382.28. The 50-share NSE Nifty declined 46.40 points or 0.18 per cent to end at 25,476.10. From the Sensex firms, HCL Tech, Tata S ...Read More >
New Delhi, Jul 9 (PTI) Crude oil futures on Wednesday fell Rs 27 to Rs 5,859 per barrel as participants trimmed their positions, tracking weak demand in the spot market. On the Multi Commodity Exchange, crude oil for July delivery declined Rs 27, or 0.46 per cent, to Rs 5,859 per barrel in 13,022 lots. Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market. Globally, West Texas Intermediate crude oil was trading 0.19 per cent low ...Read More >
New Delhi, Jul 8 (PTI) Solar sector experts and stakeholders will gather next week at a multilateral meeting for Asia and the Pacific region in Sri Lanka to discuss ways to scale up use of solar energy. The International Solar Alliance (ISA) will host its Seventh Regional Committee Meeting (RCM) for the Asia and the Pacific Region next week in Sri Lanka, an official statement said on Tuesday. The event will bring together government officials, technical universities, think tanks, institutional ...Read More >
New Delhi, Jul 6 (PTI) Makers of solar photovoltaic modules and solar cells Emmvee Photovoltaic Power Ltd on Sunday filed preliminary papers with capital markets regulator Sebi to raise Rs 3,000 crore through an initial public offering (IPO). The IPO comprises fresh issue of shares worth Rs 2,143.86 crore and an offer for sale (OFS) of shares valued Rs 856.14 crore by promoters, according to the draft red herring prospectus (DRHP). Proceeds from the fresh issue to the tune of Rs 1,607.90 crore ...Read More >
Mumbai, Jul 3 (PTI) The National Commodity and Derivatives Exchange Ltd (NCDEX) on Thursday said it has inked an agreement with the India Meteorological Department (IMD) that will lay critical groundwork for launching India's first weather derivatives. This Memorandum of Understanding (MoU), signed on June 26, lays the critical groundwork for the launch of India's first weather derivatives -- a long-anticipated market instrument designed to help farmers and allied sectors hedge against climate- ...Read More >
New Delhi, Jul 2 (PTI) State-owned iron ore producer NMDC is actively evaluating offshore acquisitions of critical mineral blocks, its CMD Amitava Mukherjee said adding it will strengthen the company's presence in the global value chain. Critical minerals like antimony, lithium, cobalt, copper are essential for clean energy technologies like solar panels, wind turbines, EVs, and energy storage systems. India has launched the National Critical Mineral Mission (NCMM) to ensure their long-term ava ...Read More >
India's Department of Telecom (DoT) is reassessing spectrum demand for 5G private networks, seeking input from enterprises and system integrators by July 31. This follows concerns about device ecosystem availability and high spectrum costs. New Delhi, Jul 1 (PTI) The telecom department has started the process to reassess fresh spectrum demand for captive non-public networks, also known as 5G private networks, according to an official memorandum. This is the second such exercise by the Departmen ...Read More >
New Delhi, Jul 1 (PTI) Shares of pharmaceuticals firm Sigachi Industries Ltd fell nearly 6 per cent on Tuesday, extending their previous day's decline, after an explosion at its manufacturing facility in Telangana killed several people. The stock plunged 5.57 per cent to settle at Rs 46.07 on the BSE. During the day, it dropped 8.36 per cent to Rs 44.71. At the NSE, it fell by 5.76 per cent to end at Rs 45.95. Shares of Sigachi Industries Ltd had tanked over 11.50 per cent on Monday also. Th ...Read More >
Mumbai, Jun 29 (PTI) Slice Small Finance Bank has turned profitable on a monthly basis and is aiming to close FY26 in the black, a top official has said. The entity, which came out of a surprising merger between the fintech Slice and the North East SFB a few months ago, is adequately capitalised and not looking to raise any capital, its executive director Rajan Bajaj told PTI. The current focus is to build a pan-India business using the low-cost digital channels, and the entity is not interest ...Read More >
Ahmedabad, Jul 27 (PTI) Founder of Infosys and Catamaran Narayana Murthy has instituted a scholarship in the name of Indian Institute of Management Ahmedabad (IIMA) founding faculty member Jaswant G Krishnayya. Professor Jaswant G Krishnayya Merit Scholarship, instituted by Murthy, honours Krishnayya, a pioneer in computer science, decision sciences, and management systems, who played a formative role in shaping the academic rigour of the institute, a release said. The first scholarship and a ...Read More >
New Delhi, Jun 27 (PTI) The initial share sale of HDB Financial Services Ltd, a subsidiary of HDFC Bank, got subscribed 16.69 times on the closing day of bidding on Friday, amid encouraging participation from institutional buyers. The initial public offer (IPO) received bids for 2,17,67,62,140 shares against 13,04,42,855 shares on offer, according to details available on the NSE. Qualified Institutional Buyers (QIBs) part garnered 55.47 times subscription while the category for non-institution ...Read More >
Kolkata (West Bengal) [India], June 27 (ANI): A female student was allegedly gang-raped inside a law college in Kolkata's Kasba on Wednesday evening. The police have arrested all three accused within 24 hours. The three accused, named as Monojit Mishra (31), Zaib Ahmed (19), and Pramit Mukhopadhyay (20), were former students or staff members of the same law college. Also Read | Student Gang-Raped at South Kolkata Law College: Police Arrest 3 Youths for Sexually Assaulting Young Woman Inside La ...Read More >
New Delhi, Jun 27 (PTI) Gold prices on Friday declined Rs 1,075 to Rs 96,012 per 10 grams in futures trade amid muted spot demand. On the Multi Commodity Exchange, gold contracts for August delivery traded plunged Rs 1,075 or 1.11 per cent at Rs 96,012 per 10 grams in a business turnover of 14,412 lots. Analysts attributed the fall in gold prices to weak global cues. In the international markets, gold futures fell 1.25 per cent to USD 3,306.10 per ounce in New York. ...Read More >
New Delhi, Jun 26 (PTI) The initial public offering of real estate developer Kalpataru Ltd garnered 2.26 times subscription on the closing day of bidding on Thursday. The IPO received bids for 5,15,74,140 shares, as against 2,28,26,516 shares on offer, according to NSE data. The Qualified Institutional Buyers (QIBs) category received 3.12 times subscription, while the portion for non-institutional investors got subscribed 1.31 times. The Retail Individual Investors (RIIs) part received 1.29 ti ...Read More >
Mumbai, Jun 8 (PTI) Maharashtra Chief Minister Devendra Fadnavis on Sunday said Congress MP Rahul Gandhi, instead of introspecting on the defeat in the 2024 state assembly polls, has been repudiating the mandate given by the people because they rejected him. The leader of opposition in the Lok Sabha is preparing his excuses for future defeats in the upcoming assembly elections, including Bihar, Fadnavis said in his articles published in the Indian Express and Marathi daily Loksatta. On Saturda ...Read More >
New Delhi, Jun 8 (PTI) Engineering solutions provider DEE Development Engineers Ltd is planning to diversify into hydrogen production as it expects good business opportunities in the sector. DEE Development Engineers Chairman and Managing Director (CMD) Krishan Lalit Bansal said, "We have very recently put our foot in the production of some small gas/chemical plants. We have acquired a 70 per cent stake in a company called Maldives Design Ltd, which is specialised in the manufacturing of nitrog ...Read More >
New Delhi, Jun 6 (PTI) Almost every manufacturer in India, across various segments covered in a survey, has either invested in artificial intelligence and machine learning technology or is planning to do so, a senior officer from Rockwell Automation said on Friday. While sharing details of the survey, Rockwell Automation India Managing Director Dilip Sawhney told PTI that in a survey on smart manufacturing conducted two years ago, about two-thirds of organisations said they would either have al ...Read More >
Mumbai, Feb 4 (PTI) Benchmark stock indices Sensex and Nifty rebounded nearly 2 per cent on Tuesday in line with a recovery in Asian peers after US President Donald Trump delayed tariffs on Mexico and Canada for a month. The 30-share BSE Sensex jumped 1,397.07 points or 1.81 per cent to settle at a month's high of 78,583.81. During the day, it surged 1,471.85 points or 1.90 per cent to 78,658.59. The NSE Nifty soared 378.20 points or 1.62 per cent to 23,739.25, a level not seen since January 3 ...Read More >
New Delhi, Feb 4 (PTI) Fintech firm One Mobikwik on Tuesday reported a consolidated loss of Rs 55.28 crore in the third quarter ended December 2024, mainly due to increase in payment gateway cost. One Mobikwik had posted a profit of Rs 5.27 crore in the same period a year ago, according to the company's regulatory filing. The payment gateway cost of One Mobikwik jumped about three-fold to Rs 143.7 crore during the reporting period from Rs 50.83 crore in the December 2023 quarter. The consolid ...Read More >
New Delhi, Jan 8 (PTI) Global hospitality major Radisson Hotel Group on Wednesday announced the opening of a new property at Vellore in Tamil Nadu. With the opening of The Park Inn by Radisson Vellore, the group now has seven hotels across the state under brands such as Radisson, Radisson Blu and Park Plaza, Radisson Hotel Group said in a statement. "This opening underpins our strategy of being the first mover and focusing on Tier III cities like Vellore where rich cultural heritage meets a gr ...Read More >
New Delhi, Dec 18 (PTI) Siemens Gamesa on Wednesday announced selling its power electronics business to ABB which includes assets in India for an undisclosed amount. The business designs and manufactures converters, inverters and control cabinets for wind, solar and storage industries, Siemens Energy said in a statement. The generators business of Gamesa Electric is not included in the agreement and remains with Siemens Gamesa, it said. "Siemens Gamesa has reached an agreement to sell its pow ...Read More >
Mumbai, Dec 18 (PTI) Equity benchmark indices Sensex and Nifty stayed on the back foot for the third straight session on Wednesday as investors offloaded utility, capital goods and metal stocks amid foreign fund outflows. Besides, investor sentiment remained subdued ahead of the outcome of the US Federal Reserve's policy meeting, scheduled for Wednesday, traders said. The 30-share BSE benchmark tumbled 502.25 points or 0.62 per cent to settle at 80,182.20, taking its downtrend to the third day ...Read More >
New Delhi, Dec 18 (PTI) Renewable energy player BCL Industries on Wednesday said it is setting up a bio-energy plant in West Bengal with an investment of Rs 150 crore. The company has also received an environment clearance for its 75 KLPD (kilo litres per day) plant coming up in Kharagpur, it said. Additionally, the work on a similar project with 75 KLPD capacity in Bathinda, Punjab is in full swing. Both the projects are expected to be completed within a time period of 18-24 months, it said. ...Read More >
Mumbai, Dec 17 (PTI) Agri-solutions provider Coromandel International and Mahindra and Mahindra's farm equipment sector business vertical, Krish-e, on Tuesday announced a partnership to extend Coromandel's drone spraying services, Gromor Drive. Currently operational in seven key states of Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Maharashtra, Madhya Pradesh and Uttar Pradesh, Gromor Drive's operations are supported by RPTO-trained pilots, according to a joint statement. Coromandel's dr ...Read More >
Mumbai, Dec 17 (PTI) Equity benchmark indices Sensex and Nifty slumped over 1 per cent on Tuesday, weighed down by an across-the-board selloff amid cautious investors approach ahead of the US Fed interest rate decision. Falling for the second day in a row, the 30-share BSE benchmark Sensex tanked 1,064.12 points or 1.30 per cent to settle at 80,684.45. During the day, it slumped 1,136.37 points or 1.39 per cent to 80,612.20. The NSE Nifty tumbled 332.25 points or 1.35 per cent to 24,336. From ...Read More >
New Delhi, Dec 12 (PTI) Gross non-performing assets (NPAs) of public sector banks (PSBs) have declined to a decade low of 3.12 per cent at the end of September 2024 from a peak of 14.98 per cent in March 2018 on the back of measures like the 4Rs -- recognition, recapitalisation, resolution, and reform -- taken by the government, the finance ministry said on Thursday. Since 2015, the government implemented a comprehensive 4Rs strategy of recognising NPAs transparently, resolution and recovery, r ...Read More >
Stay updated with the latest None news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on None topics.