DroneAcharya inks pact with CBAI Tech; stock surges over 5%
DroneAcharya Aerial Innovations Ltd has inked an agreement with CBAI Technologies Pvt Ltd for the procurement of 200 type certified training drones over a span of three years. Prateek Srivastava, Founder and Managing Director of DroneAcharya, said, “India is poised to require one lakh drone pilots, triggering a cascade of job opportunities in ancillary fields […]
Broker’s call: ASK Automotive (Buy)
Target: ₹375 CMP: ₹309.20 ASK Automotive (ASK) is the leading manufacturer of 2W brake shoe and drum braking systems with a combined about 50 per cent market share. Despite being a late entrant, the company has emerged as a sizeable player in aluminium light-weighting components (ALP) and safety control cables (SCC) for the 2W segment, where […]
Bengal to allow marginal farmers to sell paddy in boro season to meet PDS needs
In order to meet higher requirement of rice for the public distribution system (PDS), the West Bengal government has decided to allow small and marginal farmers to sell up to 30 quintal of paddy in this boro season. This is the second consecutive boro season during which the state government will be procuring additional paddy from […]
Brigade Enterprises inks joint development agreement with Agni Estates worth ₹400 crore
Brigade Enterprises Ltd inked a joint development agreement with Agni Estates & Foundations Pvt Ltd to develop Brigade Tech Boulevard, a Grade A office space in Chennai. The company informed, with an investment of approximately ₹400 crore, the project will span across two towers and offer a leasable area of 8.36 lakh square feet. This […]
Iran-Israel conflict: Indian equity, bullion markets could get caught in the crossfire
India’s equity and bullion markets could get caught in the crossfire between Israel and Iran on fears of the ongoing tensions escalating into a full fledged war. “The current conflict between Israel and Iran will have repercussions on the Indian market and may result in a knee jerk reaction among market participants. Rising tensions could […]
Inflows into equity MF schemes jump 25% to ₹1.86 lakh cr in FY24
Thanks to the buoyancy in systematic investment plans, the net inflows into equity mutual funds have jumped 25 per cent in the financial year ended March 2024 to ₹1.86 lakh crore against ₹1.49 lakh crore in the same period last year even as concern on high market valuation continue to prevail. Also read: Systematic Investment […]
Deals activity slows further in BFSI sector as investors turn cautious
The banking, financial services and insurance sector saw an accelerated fall in deals in the March quarter both in terms of value and volume on investors caution and the outlook is rather mixed as with regulatory changes players are adjusting their strategies and investors are waiting for the opportune moment. Total deals in the first […]
India’s forex reserves rise to an all-time high of $649 billion
India’s foreign exchange (fx) reserves rose $2.98 billion in the first week of the new financial year to an all-time high of $648.562 billion as on April 5, 2024. Also read: G-Sec yields spike, rupee weakens on higher-than-expected US inflation Fx reserves in the reporting week were mainly buoyed by increase in gold reserves ($2.398 […]
Vodafone Idea announces ₹18,000-crore share sale
Vodafone Idea Limited approved a further public offering (FPO) of equity shares, aggregating up to ₹18,000 crore. The capital raising committee has also approved the price band for the FPO issuance. According to the company, at ₹11, the higher end of the price band, represents a discount of approximately 26 per cent compared to the […]
RSWM takes up six sustainability issues, to convert its boilers to use biofuel
RSWM (formerly known as Rajasthan Spinning and Weaving Mills group) Ltd, one of India’s leading yarn and knitted fabric manufacturers, has taken up six initiatives as part of its sustainability and green drive, says Brij Mohan Sharma, its joint managing director (JMD). “We have assigned different weightage to each of these areas and the performance […]