Nilim Daimari
RBI Governor Shaktikanta Das, on April 8, emphasized the need for banks to exercise caution regarding unauthorized foreign exchange trading platforms. He pointed out that certain individuals or entities are utilizing banking channels to finance activities on such platforms. Speaking at the FIMMDA-PDAI Annual Conference in Barcelona, Das urged banks to heighten their vigilance in … Read more
South Korean automotive giants Hyundai Motor Company (HMC) and Kia Corporation have officially announced a strategic collaboration with Exide Energy Solutions Ltd, a prominent Indian battery manufacturer, to localize electric vehicle (EV) battery production in India. This move has propelled Exide Industries’ shares to surge by over 12%, reaching a remarkable 52-week high of Rs … Read more
FSN E-commerce, the parent company of Nykaa, experienced a surge of 5% in its shares during the early trading hours on April 8, buoyed by the company’s promising growth outlook for the fourth quarter. At 10:40 am, Nykaa’s shares were trading at Rs 173.55 on the NSE, with trading volumes significantly surpassing the one-month daily … Read more
In a remarkable feat, Godrej Properties saw a surge of 5% in its shares during the morning trade on April 5, sparked by the announcement of selling homes worth over Rs 3,000 crore in Gurugram. The real estate behemoth achieved this extraordinary milestone by selling more than 1,050 homes, amounting to a staggering Rs 3,000 … Read more
Shares of Info Edge surged by 7.8 percent, reaching a 52-week high of Rs 6,164.45 on the National Stock Exchange (NSE) following the announcement of robust Q4 performance by the parent company of the renowned online job portal Naukri. In FY24, Info Edge’s standalone billings experienced a notable growth of 5.48 percent year-on-year (YoY), amounting … Read more
Bandhan Bank experienced a significant drop of 9% in its share value during the morning trade on April 8, following the news of Chief Executive Officer and Managing Director Chandra Shekhar Ghosh’s decision to step down. At 9:36 am, Bandhan Bank’s shares were trading at Rs 183.95 on the NSE. The bank confirmed that Ghosh … Read more
Voltas surged to its upper circuit of 10 percent and reached a new 52-week high in early trading on April 8th, following the announcement that the AC manufacturer had successfully sold 2 million units in FY24. The company’s achievement of selling 2 million AC units during the fiscal year 2023-24 marks a historic milestone, representing … Read more
The Reserve Bank of India (RBI) declared its initial monetary policy for FY25 on April 5, 2024. With a 5-to-1 majority vote, the RBI’s Monetary Policy Committee (MPC) opted to maintain the key policy repo rate at 6.50 percent for the seventh consecutive time. The committee, consisting of six members, also retained the stance at … Read more
Recent reports suggest that the Insurance Regulatory and Development Authority of India (IRDAI) has voiced reservations regarding the resolution plan put forward by IndusInd International Holdings (IIHL), a firm under the Hinduja Group, for debt-laden Reliance Capital, a player in the insurance sector, encompassing non-life segments. Sources indicate that IRDAI has directly addressed Nageshwara Rao … Read more
Adani Green Energy Ltd has announced a mammoth investment of Rs 1.5 lakh crore to expand its capacity to 30 gigawatts (GW) at its Khavda renewable energy project site in Kutch, Gujarat. This ambitious venture, spearheaded by Managing Director Vneet Jaain, aims to transform barren land spanning 538 square kilometers in Khavda into the world’s … Read more
In the month of February, India experienced a notable surge in coal imports, with figures rising by 13% to reach a total of 21.64 million tonnes (MT). This uptick, as reported by online marketplace mjunction, was primarily fueled by the proactive stance of certain buyers who sought to bolster their stocks in anticipation of the … Read more
Maruti Suzuki India aims to boost its exports significantly, with plans to surpass 3 lakh units in FY25 and eventually target up to 8 lakh units by 2030. This ambitious goal follows the company’s successful scaling up of exports in recent years, reaching 2.83 lakh units in the fiscal year 2023-24. According to Rahul Bharti, … Read more
India’s prominent pharmaceutical company, Aurobindo Pharma, announced the appointment of T. Vijaya Kumar as President of the Research and Development (R&D) division specializing in Specialty Drug Delivery, effective April 5, 2024. Kumar brings with him extensive expertise, holding a Master’s in Pharmacy from Gulbarga University, Gulbarga (India), with a focus on Pharmaceutical Technology. With nearly … Read more
Wipro’s appointment of Srinivas Pallia as the new CEO has garnered praise from industry experts, signaling a strategic move towards stability amid recent business challenges. Pallia, a seasoned company veteran who previously led Wipro’s Americas I business, brings a wealth of experience to the role. The decision comes as Thierry Delaporte, the current CEO, steps … Read more
Asteroids, ever looming threats, are a constant source of concern due to their potential to collide with celestial bodies like planets or moons. In a recent discovery, NASA has spotted a particularly worrisome asteroid hurtling towards Earth. Measuring a staggering 170 feet, this celestial object is set for a close encounter with our planet, prompting … Read more
In an effort to further enhance user experience and connectivity, WhatsApp is set to introduce an exciting new notification feature for status updates. With this enhancement, users will never miss out on important updates from their contacts, ensuring a more seamless and engaging messaging experience on the platform. The latest WhatsApp beta for Android 2.24.8.13 … Read more
Rajesh Kumar Singh, the secretary in the Department for Promotion of Industry and Internal Trade, has unveiled India’s ambitious plan to attract a minimum of $100 billion in gross foreign direct investment (FDI) annually. This bold objective comes as many investors and multinational corporations are seeking to diversify their investments away from China, presenting India … Read more
The dispute between the International Monetary Fund (IMF) and former CEA Krishnamurthy Subramanian regarding India’s growth prospects has escalated. Subramanian asserted that the Indian economy could achieve an 8% growth rate until 2047, contrasting with the IMF’s stance, which distanced itself from his projections. In response, Subramanian took a swipe at the IMF, alleging consistent … Read more
In the upcoming week, the primary market is set to experience a momentary pause, with no new mainboard IPOs scheduled after the blockbuster debut of Bharti Hexacom’s mega IPO, which marked the dawn of the new fiscal year. However, amidst this brief hiatus, the small and medium enterprises (SMEs) segment will continue to thrive, as … Read more
Vodafone Idea’s board of directors has given the green light to a significant move, approving the allotment of shares valued at ₹2,075 crore to Oriana Investments Pte. Ltd., a key entity within the Aditya Birla Group. Priced at ₹14.87 per share, this preferential allotment demonstrates confidence in the company’s growth prospects, notably exceeding the Friday … Read more