Category: Business

Business

Markets stage sharp recovery after five days of fall; Sensex climbs 500 points

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From the 30 sensex package, ITC, Tech Mahindra, HDFC Bank, Reliance Industries, IndusInd Bank, Titan, State Bank of India and ICICI Bank were the biggest gainers. File | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty rebounded sharply on Monday (December 23, 2024) after five days of steep decline amid value buying at lower…

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Rupee falls 7 paise to close at 85.11 against U.S. dollar

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Image used for representative purpose only. | Photo Credit: REUTERS The rupee failed to resist pressure from strengthening American currency and lost 7 paise to settle at 85.11 (provisional) against the U.S. dollar on Monday despite a sharp recovery in domestic equities. According to forex traders, the rupee stayed weak due to significant dollar demand….

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AS-IT-IS Nutrition targets GMV of ₹300 crore in 2025; unveils new campaign

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(From left to right) Co-founder Arvind Jain, Director Pawan Jain, Cricketer Ravindra Jadeja, co-founder Himmath Jain. | Photo Credit: Special arrangement AS-IT-IS Nutrition, a sports nutrition company, said it would clock a Gross Merchandise Value (GMV) of ₹300 crore in 2025 owing to growing sales of its ATOM range of products. The company has launched a…

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Adani Group to acquire Air Works for enterprise value of ₹400 crore

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With operations spanning 35 cities and a workforce of over 1,300 personnel, Air Works brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft. File | Photo Credit: Reuters Adani Group on Monday (December 23, 2024) said it will acquire aviation maintenance, repair and overhaul (MRO) services firm Air Works for an enterprise value of…

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Sterling and Wilson RE bags domestic order worth ₹1,200 crore  

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Sterling and Wilson Renewable Energy Limited’s renewable energy offerings include EPC solutions for Hybrid Energy and Energy Storage. Photo: www.sterlingandwilsonre.com Sterling and Wilson Renewable Energy Ltd. (SWREL) which is into Engineering, Procurement and Construction (EPC) said it has received Letter of Intent (LoI) for a new order worth ₹1,200 crore in Gujarat. The company received…

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HDFC Bank executes first gold forward deal from Gujarat GIFT City

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Arup Rakshit, Group Head, Treasury, HDFC Bank said, “This achievement underscores our commitment to leveraging the opportunities offered by GIFT City to deliver innovative and efficient financial solutions.” | Photo Credit: Reuters HDFC Bank said it has become the first domestic bank to execute a gold forward deal from GIFT City, Gujarat.  The deal was…

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SEBI suspends trading in Bharat Global Developers over financial misrepresentation

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SEBI examined the matter to determine whether the company violated securities laws, including the SEBI Act, Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations, and Listing Obligations and Disclosure Requirements (LODR) Regulations. File | Photo Credit: Reuters Markets regulator Securities and Exchange Board of India (SEBI) on Monday (December 23, 2024) suspended trading in…

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Indian equity benchmarks seen opening higher tracking regional peers

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India’s equity benchmarks are likely to open higher on Monday (December 23, 2024), tracking gains in its regional peers on the back of benign U.S. inflation data. The GIFT Nifty futures were trading at 23,809.5 as of 08:03 a.m, indicating the benchmark Nifty 50 will open above Friday’s close of 23,587.5. Other Asian shares rallied…

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What are the new interception rules and safeguards? | Explained

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For representative purposes. | Photo Credit: Getty Images The story so far: The Union Government, on December 6, notified the Telecommunications (Procedures and Safeguards for Lawful Interception of Messages) Rules, 2024 which empower some enforcement and security agencies to intercept phone messages under certain conditions. These rules supersede Rule 419A of the Indian Telegraph Rules,…

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Congress slams govt over different tax slabs for popcorn, asks if PM will show courage for GST overhaul

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Image used for representative purpose only. | Photo Credit: BISWARANJAN ROUT The Congress on Sunday (December 22, 2024) said the “absurdity” of three different tax slabs for popcorn under GST only brings to light the growing complexity of the system and asked whether the Modi government will show the courage to launch a complete overhaul…

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