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The newly set up Indian cooperative export body National Cooperative Exports Ltd (NCEL) has begun to execute its non-basmati white rice orders by shipping its first consignments to Mauritius. Of the 14,000 tonnes permitted by the Indian government to be exported to the east African nations, NCEL has shipped 3,950 tonnes so far, data made […]

The Reserve Bank of India, in consultation with the Government of India, has expanded the basket of products offered through the Retail Direct Portal, allowing retail investors to subscribe to Floating Rate Savings Bonds (FRSBs), 2020 (Taxable). FRSBs are interest bearing, non-tradeable bonds, issued by the Government of India, which are repayable on the expiration of seven years from […]

J&K Bank Q2 FY24 (Standalone, YoY) Net profit at Rs 381.07 crore vs Rs 243.49 crore, up 57% YoY. NII at Rs 1,333.83 crore vs Rs 1,195.12 crore, up 12% YoY. Gross NPA at 5.26% vs 5.77% QoQ. Net NPA at 1.04% vs 1.39% QoQ. CreditAccess Grameen Q2 FY24 (Standalone, YoY) Total income up 53.2% […]

Market capitalisation of Indian listed stocks are likely to touch nearly $7 trillion by 2030, riding on the continued strong growth in the economy, Amarjeet Singh, Whole-time Member, SEBI, has said.  “ Today size of Indian economy is $ 3.73 trillion.  Projection is our economy would grow to become a $ 7 trillion size by 2030. […]

Elecon Engineering Company Limited’s shares were up 1.85 per cent after the company bagged a contract worth ₹51.41 crores from ArcelorMittal Nippon Steel India Limited (AMNS). This contract encompasses the supply and supervision of a Pipe Conveyor System to be deployed at AMNS’s Hazira Plant located in Gujarat, India. Also read: Elecon Engineering initiates arbitration […]

BSE-listed Equipp Social Impact Technologies Ltd has launched an offer for sale (OFS) allowing its promoter group to offload 92.78 lakh shares at a floor price of ₹26.40 a piece. The base size of the offer represents nine percent of the total paid-up equity share capital, The seller may also offload an additional 20.61 lakh […]

Shyam Metalics and Energy Limited (SMEL), completed the acquisition of Mittal Corp Limited through its wholly owned subsidiary, Shyam Sel and Power Limited for ₹351 crore. The acquisition involves the establishment of two manufacturing facilities, Unit I and Unit II, in the state of Madhya Pradesh. Unit I, spanning 17 acres, is dedicated to the […]

Equity benchmark indices fell in early trade on Friday due to weak trends in global markets and soaring crude oil prices. Foreign fund outflows also weighed on investor sentiments. Falling for the third day running, the 30-share BSE Sensex fell 320.63 points to 65,308.61. The Nifty declined 106 points to 19,518.70. Among the Sensex firms, […]

With foreign room crossing 15 per cent, IndusInd Bank will be eligible for inclusion in indices that have a large amount of passive tracking assets, said analysts. The bank’s foreign shareholding has decreased to 62.61 per cent for the quarter ended September, meeting the minimum headroom requirement of 15 per cent for global index inclusion. […]

Foreign portfolio investors (FPIs) have received a slew of notices on foreign remittances made outside India under Section 133 (6) of the Income Tax Act, said two people in the know. While FPIs have received such notices in the past, the number has gone up significantly this year. In a first, tax authorities have asked […]