Leading exchanges BSE and NSE have imposed a fine of Rs 5,42,800 each on state-owned Power Grid Corporation for not having the required number of independent directors, including one woman. The NSE and BSE have imposed a fine of Rs 5,42,800 for non-compliance, Power Grid Corporation said in a regulatory filing said. The company said […]
Rupee rises 12 paise to settle at 83.15 against US dollar
Rising for the first time this week, the rupee appreciated by 12 paise to settle at 83.15 against the US dollar on Friday amid a weak American currency and positive equity market sentiment. The Indian currency, however, remained under pressure due to continuous upward movement in the crude oil price triggered by evolving geopolitical situation [&he
SpiceJet stock rises 10 per cent on fund raising, NSE listing plans
Shares of SpiceJet jumped more than 10 per cent on Monday amid the plans of the no-frills airline to raise funds as well as list on the National Stock Exchange. The stock rallied 10.19 per cent to close at Rs 60.57 per piece on the BSE. During the day, the scrip hit its 52-week high […]
Jaiprakash Associates transfers shares worth Rs 360 crore to ICICI Bank
In its attempt to reduce debt, Jaiprakash Associates (JAL) and its trusts have transferred about 189 million shares worth ₹360 crore to ICICI Bank under a settlement agreement. The shares transferred were already pledged with the bank, and the move comes ahead of the next hearing of the bankruptcy petition on November 30. This is […]
GTRI says 51.5% agri exports from just 5 products makes sector vulnerable to global prices, demand
India’s agri export basket is dependent on just five commodities including rice and sugar and this makes the sector vulnerable to fluctuations in global prices and demand, a report by economic think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said these five products — basmati rice, non-basmati rice, sugar, spices, and [&h
Jefferies initiates coverage on Honasa Consumer with Buy recommendation, sees 57% upside
Honasa Consumer, the parent company of popular brand Mamaearth, witnessed a 3.5% increase in its stock amidst volatile trading. This surge followed Jefferies India’s initiation of coverage, giving the stock a high conviction buy rating and revising its target price to Rs 520 per share. Jefferies predicts an impressive 57% growth for Honasa Consumer
Oil India shares strain following Q2 Results; Should you buy, hold or sell the stock?
The share price of State-run explorer Oil India tanked 4.28% to Rs 297.30 a day after the company reported a drop of 80% in the second quarter of FY24 as the company set aside Rs 2,363 crore for an ongoing litigation. The company’s profit for Q2FY24 fell to Rs 325 crore compared to Rs 1,721 […]
Can gold yield Diwali delights for investors?
By Bhavik Patel Gold investors are happy this Diwali as gold has given approximately a return of around 18.5% from last Diwali till now. There were many factors contributing to the strong return in gold ranging from central bank buying to the Middle East conflict between Israel and Hamas. The main expectation for gold rally […]
Prices of basmati paddy up 14% on year as arrivals peak
Mandi prices of several varieties of basmati paddy are ruling 11-14% higher than the last year levels, one month after the government’s decision to reduce the minimum export price (MEP) of basmati rice to $950/tonne to give a boost to exports. Exporters said that robust global demand especially from Middle-East and the restrictions on non-basmati [
T+0 by March, instant a year later: Sebi
The Securities and Exchange Board of India (Sebi) board on Saturday did not make any changes to existing delisting regulations, citing insufficient data. “Since the number of delisting applications over the five years was small, the data was quite limited to draw significant conclusions. Therefore, the board suggested we go back and gather more dat