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New Delhi: Sajjan Jindal-led JSW Paints' Rs 12,915-crore deal to acquire Dutch paint maker Akzo Nobel's India unit is among the biggest transactions in the country so far this year. JSW Paints on Friday announced that it will buy a 74.76 per cent stake in Dulux paint-maker Akzo Nobel India for Rs 8,986 crore, followed by an open offer to buy another 25 per cent from open market for up to Rs 3,929.06 crore, totalling tad over Rs 12,915 crore. It is slightly behind Japan's Sumitomo Mitsui Bankin ...Read More >
SURAT: The investigation into a massive international cybercrime racket busted last month in Surat has revealed a staggering Rs 1,455 crore was laundered through 90 bank accounts that were opened by misusing documents of needy people over the last six months.The total amount siphoned off could rise to Rs 2,000 crore, as the police are yet to examine details of another 75 suspicious accounts.The racket was unearthed on May 22, when Udhna police detained a man carrying suspicious stamps and bank k ...Read More >
Surat: The investigation into a massive international cybercrime racket busted last month in Surat has revealed a staggering Rs 1,455 crore was laundered through 90 bank accounts that were opened by misusing documents of needy people over the last six months.The total amount siphoned off could rise to Rs 2,000 crore, as the police are yet to examine details of another 75 suspicious accounts.The racket was unearthed on May 22, when Udhna police detained a man carrying suspicious stamps and bank k ...Read More >
New Delhi, June 6 (SocialNews.XYZ) Top bankers on Friday hailed the Reserve Bank's decision to reduce repo rate by 50 basis points to 5.50 per cent and cash reserve ratio (CRR) by 100 basis points in four tranches, saying the policy move is expected to provide the necessary drive for credit expansion in priority sectors which will enhance the financial inclusion. Besides this, the revision in CPI inflation to 3.7 per cent for FY26 also shows the RBI's confidence in inflation being aligned with ...Read More >
New Delhi: The Enforcement Directorate (ED) on Friday carried out searches at 15 places in Mumbai and Kochi in connection with the Mithi River desilting scam that caused a wrongful loss of more than Rs 65 crore to the Brihanmumbai Municipal Corporation (BMC), official sources said. The massive crackdown is underway at the premises across Mumbai and Kochi linked to the accused and suspects as part of an ongoing probe into alleged financial irregularities. According to the sources, the searches ...Read More >
NEW DELHI: The Nifty Pharma index traded negative around 10:41AM(IST)on Friday in an upbeat market. Dr. Reddy's Laboratories Ltd.(up 1.24 per cent), Gland Pharma Ltd.(up 0.83 per cent), Ajanta Pharma Ltd.(up 0.56 per cent), Alkem Laboratories Ltd.(up 0.54 per cent) and Abbott India Ltd.(up 0.49 per cent) were among the top gainers. Laurus Labs Ltd.(down 1.57 per cent), Divi's Laboratories Ltd.(down 1.2 per cent), Granules India Ltd.(down 1.04 per cent), Glenmark Pharmaceuticals Ltd.(down 0.83 ...Read More >
NEW DELHI: The Nifty Bank index traded positive around 10:30AM(IST)on Friday in an upbeat market. Axis Bank Ltd.(up 1.67 per cent), Punjab National Bank(up 1.27 per cent), IDFC First Bank Ltd.(up 1.14 per cent), IndusInd Bank Ltd.(up 0.92 per cent) and State Bank of India(up 0.87 per cent) were among the top gainers. Bank of Baroda(down 2.41 per cent) were the top losers on the index. The Nifty Bank index was up 0.53 per cent at 56056.3 at the time of writing this report. Benchmark NSE Nifty ...Read More >
New Delhi, May 27 (PTI) Fitch Ratings on Tuesday said Sumitomo Mitsui Financial Group's (SMFG) 20 per cent stake buy in Yes Bank could pave way for other foreign entrants in the Indian banking sector. India's foreign investment norms cap voting rights for investors in banks at 26 per cent and investments by financial institutions in Indian banks at 15 per cent, which have deterred such stake sales, its said. "The Yes Bank transaction will be the first significant acquisition by a foreign bank ...Read More >
NEW DELHI: The Nifty Auto index closed on a note on Wednesday. Shares of Hero MotoCorp Ltd.(up 1.36 per cent), Bharat Forge Ltd.(up 1.34 per cent), Ashok Leyland Ltd.(up 0.97 per cent), Bosch Ltd.(up 0.81 per cent) and Exide Industries Ltd.(up 0.74 per cent) ended the day as top gainers in the pack. On the other hand, Samvardhana Motherson International Ltd.(down 0.3 per cent), Eicher Motors Ltd.(down 0.24 per cent) and Tata Motors Ltd.(down 0.11 per cent) finished as the top losers of the day ...Read More >
NEW DELHI: The Nifty Realty index closed on a note on Wednesday. Shares of Raymond Ltd.(up 3.51 per cent), DLF Ltd.(up 0.85 per cent), Macrotech Developers Ltd.(up 0.68 per cent), Godrej Properties Ltd.(up 0.48 per cent) and Phoenix Mills Ltd.(up 0.24 per cent) ended the day as top gainers in the pack. On the other hand, Brigade Enterprises Ltd.(down 3.45 per cent), Mahindra Lifespace Developers Ltd.(down 2.74 per cent) and Sobha Ltd.(down 1.56 per cent) finished as the top losers of the day. ...Read More >
NEW DELHI: The Nifty Bank index traded around 10:19AM(IST)on Wednesday in a weak market. Federal Bank Ltd.(up 0.35 per cent) and State Bank of India(up 0.03 per cent) were among the top gainers. ICICI Bank Ltd.(down 1.0 per cent), Punjab National Bank(down 0.9 per cent), IDFC First Bank Ltd.(down 0.64 per cent), HDFC Bank Ltd.(down 0.41 per cent) and Canara Bank(down 0.38 per cent) were the top losers on the index. The Nifty Bank index was 0.41 per cent at 53357.75 at the time of writing this ...Read More >
NEW DELHI: The Nifty Realty index traded around 10:14AM(IST)on Wednesday in an upbeat market. Raymond Ltd.(up 4.85 per cent), DLF Ltd.(up 0.87 per cent) and Mahindra Lifespace Developers Ltd.(up 0.23 per cent) were among the top gainers. Prestige Estates Projects Ltd.(down 1.26 per cent), Brigade Enterprises Ltd.(down 1.08 per cent), Phoenix Mills Ltd.(down 0.77 per cent), Sobha Ltd.(down 0.7 per cent) and Macrotech Developers Ltd.(down 0.67 per cent) were the top losers on the index. The Nif ...Read More >
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