LIC to open India’s biggest IPO issue by mid-March
New Delhi: The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting […]
Revolt Motors opens dealership store in Lucknow
Lucknow/ New Delhi: RattanIndia backed Revolt Motors, India’s next gen-mobility company announced the expansion of its retail presence in Uttar Pradesh. The company opened its first store in Lucknow, Uttar Pradesh region and it is the 20th dealership store across the country. Last month Revolt Motors opened three retail stores in Kolkata, Madurai and Coimbatore. […]
RattanIndia enterprises to drive e-commerce vertical via Rs. 350 cr investment
New Delhi: RattanIndia Enterprises (REL), a leading Company that is building businesses in new-age sectors including electric motorcycles, drone solutions and fintech on Wednesday announced that it has operationalized its e-commerce foray by approving an investment of Rs. 350 crore in its wholly owned subsidiary Cocoblu Retail Limited (Cocoblu). The investment in Cocoblu will further […]
JSPL output grows 9 pc to 5.9 MT in Apr-Dec FY22
New Delhi: Jindal Steel and Power Limited (JSPL) has manufactured 5.904 million tonnes (MT) steel in the April-December period of FY 2021-22, the company said on Tuesday. At 5.904 MT, the output was 9 per cent higher as compared to the production in the same period of the preceding fiscal, JSPL said in a statement. […]
BMW India sales up 34 pc to 8,876 units in 2021
New Delhi: German automaker BMW on Tuesday reported a sales growth of 34 per cent last year over 2020, its highest growth in a decade in India, with a dispatch of 8,876 units. The luxury automaker dispatched 8,236 BMW and 640 Mini units in 2021. Besides, BMW Motorrad sold 5,191 motorcycles last year. The automaker […]
Lulu group to invest Rs 500 crore for setting up food processing plant at Greater Noida
The UAE-based retail major Lulu group on Wednesday announced an investment of Rs 500 crore to set up a food processing plant in Greater Noida, Uttar Pradesh. The company will set up 100 per cent export-oriented food and agri-produce processing park in Greater Noida. At a formal function held at Uttar Pradesh Chief Minister Yogi […]
Talks between Pakistan, IMF for $1 billion loan tranche inconclusive: Report
ISLAMABAD: The fresh rounds of talks between Pakistan and the International Monetary Fund for the release of USD 1 billion loan tranche and a good economic certificate to the nation has remained inconclusive, a media report said on Sunday. The talks held from October 4 to 15 failed to reach a staff level agreement because […]
Sensex snaps 4-day losing run on earnings optimism
MUMBAI: Equity indices returned to winning ways on Monday after a four-session losing streak as investors piled into energy, finance and IT stocks ahead of the earnings season. Markets shrugged off lacklustre global cues and a depreciating rupee as investors wagered on healthy corporate earnings amid resumption of economic activities, traders said. The 30-share BSE […]
Sensex rallies 364 points; Nifty ends above 15,850
NEW DELHI: Equity benchmark Sensex rallied 364 points on Monday, driven by gains in index majors Reliance Industries, Infosys and TCS amid a positive trend in global equities. The 30-share index ended 363.79 points or 0.69 per cent higher at 52,950.63, while the broader NSE Nifty surged 122.10 points or 0.77 per cent to 15,885.15. […]
Sensex ends 139 points higher; Nifty tops 15,850
NEW DELHI: Equity benchmark Sensex rose 139 points on Friday following gains in ICICI Bank, ITC and SBI amid a largely positive trend in global markets. The 30-share BSE index ended 138.59 points or 0.26 per cent higher at 52,975.80, while the broader NSE Nifty advanced 32 points or 0.20 per cent to 15,856.05. ICICI […]
Sensex drops 283 points; Nifty ends below 15,700
NEW DELHI: Equity benchmark Sensex gave up early gains and tumbled 283 points on Wednesday following losses in index heavyweights Reliance Industries, HDFC and ICICI Bank. The 30-share BSE index ended 282.63 points or 0.54 per cent lower at 52,306.08. Similarly, the broader NSE Nifty declined 85.80 points or 0.54 per cent to 15,686.95. Kotak […]
Seven of top-10 most valued firms add over Rs 1.15 lakh crore to m-cap; RIL lead gainer
NEW DELHI: Seven of the top-10 most valued companies together added Rs 1,15,898.82 crore in market valuation last week, with Reliance Industries grabbing the top spot. Last week, the 30-share BSE Sensex jumped 677.17 points or 1.31 per cent. Reliance Industries, HDFC Bank, Hindustan Unilever, HDFC, State Bank of India, Bajaj Finance and Kotak Mahindra […]
Maruti, Toyota, Mahindra & Mahindra remain bullish on long-term growth of used car business
NEW DELHI: Leading automakers Maruti Suzuki India (MSI), Mahindra & Mahindra and Toyota Kirloskar Motor are bullish on the long-term growth prospects of their respective used car verticals even as the second wave of COVID-19 continues to pose severe challenges to the business activities across the country. The companies remain a bit circumspect regarding the […]
Forex reserves near record high, jump $563 million to $590.028 billion
NEW DELHI: India’s foreign exchange reserves rose by USD 563 million to reach USD 590.028 billion in the week ended May 14, RBI data showed on Friday. The reserves had touched a lifetime high of USD 590.185 billion in the week ended January 29, 2021. In the previous week ended May 7, 2021, the reserves […]
India receives 1st consignment of 1.5 lakh Sputnik V Covid-19 vaccine doses from Russia
NEW DELHI: India on Saturday received the first consignment of 1.5 lakh doses of Sputnik V COVID-19 vaccine from Russia as the country embarked on the third phase of the vaccination drive against the infection. The Central Board of Indirect Taxes and Customs (CBIC) in a tweet said that the customs department cleared expeditiously the […]
Sensex, Nifty end marginally higher
MUMBAI: Equity benchmarks Sensex and Nifty ended marginally higher after a volatile session on Friday amid positive cues from global markets. The 30-share BSE Sensex ended 28.35 points or 0.06 per cent higher at 48,832.03. Similarly, the broader NSE Nifty rose 36.40 points or 0.25 per cent to 14,617.85. Asian Paints was the top gainer […]