ZEEL’s 1Q results exceeded expectations with Revenue/EBITDA coming 6 per cent/29 per cent above abobe estimate, JM Financial Institutional Securities said in a report.
Category: BUSINESS
Reliance ARC challenges RBI Circular on Swiss Challenge as being discriminatory and arbitrary
The Reliance Asset Reconstruction Company (RARC), a subsidiary of Reliance Capital Ltd., has challenged the Reserve Bank of India's Master Circular on the Swiss Challenge Mechanism as being discriminatory, unjust and arbitrary.
RBI sucks out over Rs 1 trillion liquidity, banks to be affected
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) decision suck out over Rs one trillion from the system which will result in loss of income for the banks and hardening of the money market, said experts.
RBI retains repo rate at 6.5%, inflation projected at 5.4%
The MPC also decided to make the scheduled banks maintain an incremental cash reserve ratio (I-CRR) of 10 per cent on the increase in their net demand and time liabilities (NDTL) between May 19 and July 28.
Pluckk, India's leading lifestyle-oriented fresh fruits & vegetables brand, partners with KareenaKapoor Khan as Investor & Brand Ambassador
Pluckk, India's leading lifestyle-oriented fresh fruit and vegetables brand, is proud to announce its exciting partnership with renowned Bollywood actress Kareena Kapoor Khan.
BGMI maker Krafton pledges $150 mn investment in India
Beyond game development studios, the company’s investments span diverse and complementary sectors, including, Esports, multimedia entertainment, content creation and audio platforms.
Rice prices soar to highest levels in almost 15 years in Asia
Rice prices soared to the highest levels in almost 15 years in Asia on mounting concerns over global supplies as dry weather threatens production in Thailand and after top shipper India banned some exports, media reports said.
Bharti Airtel rolls out 5G on 26 GHz spectrum across all 22 telecom circles
The roll-out has been done in accordance to the norms set by the Department of Telecommunications (DoT) for complying to the minimum roll-out obligation criteria, the telecom major said in a statement.
BigBasket’s B2B arm Supermarket Grocery Supplies’ losses swell 21%: Report
Tata Group-owned BigBasket’s B2B arm Supermarket Grocery Supplies Pvt Ltd’s losses widened 21 per cent to Rs 215.2 crore in FY23, the media reported on Wednesday.
Price of tomatoes, chilli heated up veg and non-veg thalis by 34%, 13% in July
The cost of preparing a vegetarian thali at home has gone up by 34 per cent while that of a non-vegetarian thali went up by 13 per cent in July as compared to the input prices that prevailed in June 2023, CRISIL said in a report.
SC dismisses Go First plea against Delhi HC order allowing lessors to inspect, carry out maintenance of their aircraft
The Supreme Court on Monday refused to interfere with the order of the Delhi High Court allowing aircraft lessors of cash-strapped Go First airline to inspect their aircraft at least twice a month to carry out maintenance work.
Domestic investors holding declined in June quarter
According to Pranav Haldea, Managing Director, Prime Database Group, this was on account of profit booking by LIC, mutual funds as also retail and HNI investors with markets reaching all-time highs. Net inflows from DIIs stood at just Rs 3,368 crore during the quarter.
SC dismisses OPPO’s challenge to HC order directing it to pay 23% of India sales to Nokia
In a significant ruling, the Supreme Court on Friday dismissed Chinese smartphone brand OPPO’s plea against a Delhi High Court order which directed the company to deposit 23 per cent of the amount generated from its sales in the country for infringing upon Nokia's patent.
Nykaa CEO Nayar to take charge of marketing after 6 executives quit: Report
Beauty and fashion ecommerce giant Nykaa's CEO Falguni Nayar will now lead herself lead the marketing department of the company after the exit of six executives, including the marketing head, according to media reports.
India's geopolitical position can give tailwinds for economic growth: S&P Global Ratings
India's economic growth efforts could get the tailwinds from its geopolitical position, said S&P Global Ratings in a report on the country's quest for stable and high economic growth.
'India's macro challenge for decade ahead is to achieve sustained high, stable and inclusive growth'
The macro challenge in the decade ahead will be to achieve sustained high, stable and inclusive growth, which has thus far been elusive, S&P Global said in a report titled India's Moment.
Rupee under pressure as stock markets selloff
Rupee weakness continued further below 82.75 down by another 18 paisa as dollar index rising above 102.50 kept added pressure on rupee fall as risky assets showed sell off, says Jateen Trivedi, VP Research Analyst at LKP Securities.
Sensex now down more than 500 points
Morgan Stanley has upgraded India to overweight. India rises from number 6 to number 1 in our process, with relative valuations less extreme than in October, while MS macro, strategist and bottom-up analyst scores reflect MS' Blue Paper thesis on India's Decade.
Vanguard slashes Bhavish-run Ola’s valuation by 52% at $3.5 bn: Report
Leading US asset manager Vanguard has further slashed its holding in ride-hailing major Ola by more than half, which takes Bhavish Aggarwal-run company’s valuation down to nearly $3.5 billion from $7.3 billion at the end of 2021, the media reported on Tuesday.
1st time in India's history, majority of Nifty50 Cos promoters, executive directors not foreign/IITs/IIMs educated
For the first time in India’s history, a majority of the promoters and executive directors of Nifty50 companies are neither foreign educated nor educated at the elite IITs & IIMs, says a research by Marcellus Investment Managers.
K’taka govt holds meeting with Foxconn chairman
Karnataka Large and Medium Industries on Monday said Karnataka government had a ‘fruitful’ meeting with the iPhone maker Foxconn about the projects for which the company is keen to invest in the state.
Walmart buys Tiger Global’s remaining Flipkart stake for $1.4 bn
Retail giant Walmart has reportedly paid $1.4 billion to acquire VC form Tiger Global’s remaining shares in the e-commerce major. According to a report in Wall Street Journal, Walmart has paid the money to boost Flipkart’s stake.
Tomato price touches Rs 200/kg in TN as rain hits crop in K'taka, Andhra
There seems to be no respite for the people from the rising prices of tomatoes in Tamil Nadu as the wholesale price of the vegetable touched Rs 200 per kilogram in the state capital and many towns on Sunday.
Momentum of FPI buying slows down
It appears that the momentum of buying has slowed down and FPIs have turned sellers during the last two trading days, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The Dow is on pace for its best run in 126 years
The Dow, up 7 per cent for the year, was flat on Thursday after rallying in recent weeks as cooler-than-expected inflation data has investors more optimistic that a soft landing, or no recession, could be in the cards for the economy, CNN reported.