Nilim Daimari
On May 3rd, Bajaj Finance witnessed a remarkable surge of 7.5%, reaching Rs 7,400 per share, following the Reserve Bank of India’s (RBI) decision to lift curbs on its two digital lending products, ‘eCOM’ and online ‘Insta EMI Card’, effective immediately. Brokerages maintained a bullish stance on the NBFC giant, foreseeing a positive trajectory for … Read more
Tesla CEO Elon Musk’s recent visit to China has stirred discussions amidst production challenges and data transfer deliberations. Musk, who canceled a high-profile visit to India citing “Tesla related” commitments, has now turned his attention to discussions with Chinese government officials regarding the rollout of Tesla’s Full Self-Driving software and the transfer of data overseas. … Read more
Tata Electronics, a subsidiary of the esteemed Tata conglomerate, has embarked on a groundbreaking endeavor to localize the production of iPhone casings in India. This strategic move represents a significant departure from the reliance on Chinese imports and marks a pivotal moment in India’s journey towards self-sufficiency in high-tech manufacturing. In collaboration with companies based … Read more
April 16, 2024 – The International Monetary Fund (IMF) has raised India’s fiscal year 2024-25 (FY25) GDP growth forecast to 6.8%, an increase from the previous projection of 6.5%. This adjustment reflects India’s strong domestic demand and expanding working-age population, solidifying its position as the world’s fastest-growing major economy. For FY26, the IMF anticipates India’s … Read more
Gold and silver prices soared to fresh all-time highs in India on Tuesday, driven by strong trends in international markets and escalating geopolitical tensions in the Middle East. In New Delhi, gold prices jumped by Rs 700 to reach a record high of Rs 73,750 per 10 grams, according to HDFC Securities. Silver prices also … Read more
Mumbai – Tirupati Forge Limited has submitted a compliance certificate to the National Stock Exchange of India Limited (NSE) for the quarter ending March 31, 2024. The certificate was issued in accordance with Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. In a letter addressed to the NSE, … Read more
Kochi-based Popular Vehicles and Services Ltd. has informed the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) about ongoing GST litigation concerning its subsidiary, Vision Motors Private Limited. The disclosure was made in a regulatory filing on April 13, 2024, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, … Read more
The Reserve Bank of India (RBI) announced the rejection of applications from Dvara Kshetriya Gramin Financial Services Private Limited and Tally Solutions Private Limited for setting up small finance banks. The decision was revealed in a press release issued by the central bank on April 12, 2024. Under the guidelines for ‘on tap’ licensing of … Read more
The initial public offering (IPO) of Greenhitech Ventures Ltd, a small and medium enterprise (SME), launched today, Friday, April 12, and was quickly met with high demand from investors. The IPO was oversubscribed five times within hours of its debut, according to BSE data as of 12:10 pm. The Greenhitech Ventures IPO received bids for … Read more
The Indian stock market faced a sharp decline today, with the benchmark NIFTY50 index falling below the 22,600 mark and the SENSEX dropping over 600 points. Heavy selling pressure in key sectors such as banking and pharmaceuticals contributed to the downturn. As of 1:30 pm, NIFTY50 was trading at around 22,572, down by 0.80%, while … Read more
Tata Consultancy Services (TCS), one of India’s leading IT services and consulting companies, has hired over 10,000 freshers in its latest recruitment drive. This much-awaited hiring spree is seen as a positive step toward revitalizing the job market and providing ample opportunities for new graduates from top engineering colleges across the country. The IT giant’s … Read more
Vodafone Idea, one of India’s major telecom companies, announced that its Rs 18,000-crore follow-on public offer (FPO) will open for subscription on April 18. The FPO is part of the company’s efforts to raise up to Rs 20,000 crore via equity, as approved by its board on February 27. The FPO, which was first reported … Read more
Private sector lender RBL Bank announced on Thursday the appointment of banking industry veteran Murali Ramakrishnan as an independent director on its board. Ramakrishnan brings a wealth of experience to the role, having retired as the managing director and chief executive officer of South Indian Bank earlier this year. His tenure as independent director at … Read more
The Bharti Hexacom IPO has been highly anticipated due to the company’s association with the well-known Airtel brand and its involvement in the telecommunications industry. The IPO received strong interest from investors, reflected in its oversubscription rate of around 30 times the initial offer. Based on expert predictions, Bharti Hexacom’s IPO is expected to list … Read more
The European Central Bank (ECB) held its key interest rate steady on Thursday, opting to wait for more evidence that the swift decline in inflation is sustainable before considering rate cuts to support the sluggish economy. The bank’s governing council stated in its post-decision announcement that most underlying inflation indicators are showing signs of improvement. … Read more
The Asian Development Bank (ADB) has revised its GDP growth forecast for India, projecting a robust 7% growth for the current fiscal year (2023-24), up from the previous estimate of 6.7%. This growth surge is attributed to strong investment from both public and private sectors, alongside a gradual uptick in consumer demand. While the forecast … Read more
In a significant legal development, the Calcutta High Court has intervened in the ongoing trademark dispute between consumer goods behemoths Hindustan Unilever Ltd (HUL) and Emami Ltd. The court’s order, issued in response to a suit filed by Emami, restrains HUL from utilizing the ‘Glow & Handsome’ mark for its men’s care products. The directive … Read more
In a significant move reported by the Economic Times, Apple unveils plans to fortify its presence in India by ramping up its workforce to an impressive 500,000 employees over the course of three years. This ambitious initiative coincides with the company’s strategy to migrate half of its supply chain operations from China to India. Central … Read more
On April 9th, China Tianrui Group Cement Co Ltd experienced a staggering 99% decline in its share value, plummeting to around HKD0.05 (US$0.006). This drastic drop pushed the company’s market capitalization down to HKD141 million. The sell-off frenzy saw approximately 281 million shares, accounting for a third of the company’s total shares, change hands. Notably, … Read more
Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) emerged as net buyers on April 10, coinciding with the Nifty reaching an all-time high and the Sensex edging closer to a new peak. Preliminary data from the stock exchanges indicates that FIIs made purchases totaling Rs 2,778.17 crore, while DIIs acquired shares worth Rs 163.36 … Read more