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In aftermatch of a media report that resulted in series of profit booking on shares of six listed entities of Adani group companies, the founder and chairman of the group has spoken out. In his address to shareholders, India’s second richest also elaborated on the growth model of his business empire. “I must draw attention […]
The Punjab and Maharashtra Co-operative Bank (PMC) incurred a huge loss and it led to its net worth getting all wiped out last year. It posed some serious challenges for its revival. Centrum Financial Services Ltd. is to set up a small finance bank that would take over the PMC bank. The RBI said that […]
For the second session in a row, benchmark equity indices closed down. However, in the broader market, small-cap and mid-cap managed to end with gains. Concerns around rising interest rates, China’s crackdown on its technology companies listed abroad, rising Covid cases and profit-booking by foreign investors were the major forces behind the trade during the […]
Indian stock market witnessed major sell-off on weak global cues, rising dollar and cautious Federal Reserve minutes. At the closing, Sensex ended in the downward path by 0.92 per cent or 485.82 points at 52,568.94 and the Nifty closed at 15,727.90 or down by 151.75 points. After the closing at record highs in the previous […]
New investment in equity mutual funds (MF) schemes have dropped by 40 per cent in June, as compared to May. The official data from the Association of Mutual Funds of India (AMF) showed, however, investors continued to pour in money for the fourth straight month. As per the AMFI, total inflows for June stood at […]
Online food and delivery startup Zomato on Thursday announced share prices for its initial public offering. With Rs 8,100 fund share and price per share at Rs 72-76, it will make Zomato more valued than Hero Motocorp, Torrent Pharma, or Piramal Enterprises. At the price band at which shares are up for grabs, Zomato could […]
Zydus Cadila Healthcare was one of the first to announce plansfor a Covid vaccine, more than a year ago, so its application for emergency approval for the 3-dose ZyCov-D last month is long overdue. The company has been cautious, but innovations like the needle-free applicator, which introduces the vaccine through the skin instead of the muscle, will probably make the delay worthwhile. Zydus has also tested the vaccine […]
I must admit, I was shocked when I heard the news that Citibank is planning to exit consumer banking in India. For those of a certain vintage era, Citi is an iconic organization, once considered the best job on business school campuses, offering Indians a global career. Citigroup even had an Indian-American global CEO in Vikram Shankar Pandit for five years, […]
After two months of decline, Indian passenger car manufactures are back on track with higher sales numbers in the month of June alone. Though consumer sentiments are still positive, experts believe that it may change with the rising fuel prices. Although, businesses remained shut, owing to city-wide curfew and restrictions imposed during the second wave […]
The Indian economy is majorly Micro Small and Medium Enterprises (MSME) sector driven. It contributes upwards bound, 30 percent to the economy in both GDP and employment generation. But this sector has been reeling under pressure and crumbling due to the slowdown in 2019, and the worst hit by the pandemic. In a recent survey […]
The Federation of Indian Export Organisations (FIEO) on Thursday announced an agreement with Aramex India to support exporters from Micro, Small and Medium (MSME) segments in the country, an official statement said. The FIEO is the apex body of India’s export promotion organisations set up under the ministry of commerce. It serves an estimated two […]
After $44 billion (Rs3,24,432 crore) worth of fundraising by diluting stake in new-age businesses, India’s largest and most valued company Reliance Industries Limited (RIL) on Thursday declared a new $10 billion (Rs75,000) crore investment plan in the field of green energy. For Gujarat, it is going to be another proud moment as the entire investment […]
