The BSE Midcap and Smallcap indices dropped over 1.5 percent today, following reports that the Securities and Exchange Board of India (SEBI) has urged asset managers to provide investors with more information on the risks associated with their small and mid-cap funds. The broader market decline was led by heavy sell-offs in media, PSU bank, … Read more
Tech Mahindra has announced the acquisition of Orchid Cybertech Services (OCSI) for $3.27 million through a wholly-owned subsidiary. This move is aimed at strengthening Tech Mahindra’s relationship with TPG Telecom (TPG) and expanding its customer experience capabilities and business in the Philippines. The acquisition involves integrating OCSI, along with its assets and employees, into Tech … Read more
The Election Commission of India (ECI) is reportedly planning to unveil the dates for the upcoming Lok Sabha elections after March 9, as per sources cited by News18. The ECI officials are currently conducting final checks in various states, and it is anticipated that the election schedule for 2024 could resemble that of 2019. In … Read more
Prime Minister Narendra Modi, during his two-day visit to the United Arab Emirates (UAE), addressed the World Governments Summit in Dubai on February 14. He emphasized the need for governments worldwide to be inclusive and free from corruption, stating that his mantra has always been ‘minimum government, maximum governance’. PM Modi highlighted the increase in … Read more
Mutual funds significantly increased their holdings in several companies in January, with HDFC Bank topping the list. They bought over 88.3 million shares, bringing their total holding to 1.36 billion shares as of January 31, 2024. This increase in holdings was amidst a decline in HDFC Bank’s stock price, which fell over 14% during the … Read more
The National Stock Exchange (NSE) announced that it will hold a special trading session on March 2 to test its disaster recovery switch. This session will include both equity and equity derivatives segments. The purpose of this session is to enhance the exchange’s resilience in case of unforeseen incidents that could affect its operations. The … Read more
The HDFC Bank Group has been granted approval by the Reserve Bank of India (RBI) to acquire an aggregate holding of up to 9.5% in six banks. This approval follows the group’s submission of applications to the RBI, seeking to acquire paid-up share capital or voting rights of up to 9.5% in each bank. The … Read more
India is poised to sign a significant $78 billion deal to extend its liquefied natural gas (LNG) imports from Qatar until 2048, at rates lower than the current prices, according to sources familiar with the matter. The deal, to be inked by Petronet LNG Ltd, India’s largest LNG importer, and QatarEnergy, aims to extend the … Read more
In the third quarter of the fiscal year 2023-24, Bharti Airtel Ltd disclosed a remarkable 54% increase in consolidated net profit, reaching Rs 2,442 crore compared to Rs 1,588 crore in the corresponding period of the previous year. The company’s consolidated revenue witnessed a 6% rise, reaching Rs 37,900 crore in Q3FY24, although it faced … Read more
Tata Motors reported a substantial increase in its consolidated net profit, reaching Rs 7,025 crore in the October-December quarter, marking a two-fold rise from Rs 2,957.71 crore in the same period the previous year. This surge was attributed to strong demand for both passenger and commercial vehicles in India, sustained growth in Jaguar Land Rover … Read more