In a strategic move aimed at fortifying its financial foundation, Shilpa Medicare’s board has given the nod for a Qualified Institutional Placement (QIP) of equity shares. The company has set a floor price of Rs 477.33 per share for the QIP, signaling its confidence in its valuation and market potential. The regulatory filing also confirms … Read more
In a strategic move aimed at ensuring stability and continuity in its leadership, JPMorgan Chase’s board has underscored the orderly transition of its CEO as a top priority for the bank in the medium term. This emphasis comes 18 years after Jamie Dimon assumed the helm of the largest U.S. bank. Succession planning has become … Read more
In a proactive move to accommodate the democratic process and encourage citizens’ participation in the Lok Sabha elections, the National Stock Exchange (NSE) has officially declared May 20th as a trading holiday for Mumbai. This decision, in line with Section 25 of the Negotiable Instruments Act 1881, reflects the exchange’s commitment to supporting the electoral … Read more
BMW Group India has once again demonstrated its dominance in the luxury automotive segment by achieving its highest-ever first quarter sales figures. In the period from January to March 2024, the esteemed automobile manufacturer delivered an impressive 3,680 units, marking a remarkable 51% increase compared to the same quarter in the previous fiscal year, where … Read more
In a decisive move towards ensuring adherence to regulatory standards, the Reserve Bank of India (RBI) announced on April 8th that it has imposed monetary penalties on five cooperative banks for violations of established rules and guidelines. The banks facing penalties include The Uttarakhand Grameen Bank, Nagar Sahkari Bank, The Raj Laxmi Mahila Urban Co-operative … Read more
Gland Pharma made a significant announcement on Monday, revealing its latest milestone achievement: receiving approval from the US health regulatory body for the marketing of a generic medication tailored for treating breast cancer. In a statement released, Gland Pharma disclosed that it has secured the green light from the US Food and Drug Administration (USFDA) … Read more
Tata Motors announced on April 8th a significant surge in retail sales for Jaguar Land Rover (JLR), with a remarkable 11% year-on-year increase, totaling 114,038 units during the fourth quarter of FY24. This surge was primarily attributed to a ramp-up in production and sustained global demand for JLR vehicles. Comparing the retail sales figures to … Read more
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