Category: Uncategorized

The Finance Ministry has scrapped a ₹5,000-crore ($602 million) plan to top up the nation’s strategic crude oil reserves, given the market volatility and the prospect of a further decline in prices. Instead of buying at current levels — Brent crude has already slumped about a fifth from a September peak and could fall further […]

Crude oil futures traded higher on Wednesday morning as the data published by the American Petroleum Institute (API) showed a decline in crude oil inventories in the US. At 9.54 am on Wednesday, March Brent oil futures were at $77.89, up by 0.39 per cent; and February crude oil futures on WTI (West Texas Intermediate) […]

Franklin Templeton India’s Chief Investment Officer, Anand Radhakrishnan, is set to join Sundaram Asset Management Company. He is expected to replace Sunil Subramaniam who is likely to step down by April. Subramaniam, 62, will step down after completing 19 years in Sundaram Mutual, sources said. During his tenure Subramaniam had handled various roles including Vice-President […]

The board of Chambal Fertilisers & Chemicals on Monday approved buy back of fully paid-up equity shares of face value of ₹10 each, not exceeding 1,55,55,555 shares at a price of ₹450 per equity share for ₹700 crore. The promoters and promoter group of the company have expressed their intention to tender shares under the […]

Caplin Point Laboratories Ltd’s subsidiary, Caplin Steriles Ltd reported that it has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Ofloxacin Otic Solution 0.3%. It is a generic therapeutic equivalent version of the Reference Listed Drug (RLD), FLOXIN Otic Solution of Daiichi Pharmaceuticals Inc. […]

Foreign portfolio investors (FPIs) have raised concerns that the move to T+0, or same-day settlement may fragment the market liquidity or trading volumes, while seeking more time to suggest viable alternatives, given the year-end holiday season, said two sources in the know. The Securities and Exchange Board of India has proposed a phase-wise transition to […]

Snapdeal-owned SaaS company Unicommerce has filed a draft red herring prospectus (DRHP) with market regulator SEBI for a secondary sale of 29.8 million shares, without any fresh issue component. Unicommerce is the latest tech company to file an initial public offering (IPO) prospectus in the last fortnight, after Ola Electric, Firstcry and Mobikwik. The offer […]

Following increased shipments coming into the country in previous months, especially from China, India continued to be a net importer of steel for the first nine months of the fiscal year (April-Dec).  Imports exceed exports by 0.9 million tonnes for the period under review.  As per a report by the Steel Ministry, accessed by businessline, imports stood at 5.6 […]

The Securities and Exchange Board of India (SEBI) said on Friday that all institutional investors will have to disclose their short-sale transactions upfront at the time of order placement. Retail investors will have to make a similar disclosure by the end of the trading hours on the transaction day. The move follows the Supreme Court […]

Suzlon Energy Ltd’s shares were up by 1.03 per cent after the company reported that it received 225 MW order for a wind power project from Everrenew Energy in Tamil Nadu. The project involves installing 75 wind turbines with a 3 MW capacity each at two sites. The electricity generated will be used for captive […]