Services Industry News
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The Economic Times
Trai moots single authorisation for all telecom services
The Telecom Regulatory Authority of India (Trai) has proposed a unified authorisation for satellite telecommunication, merging VSAT and GMPCS licences. This would allow entities to offer various telecom services under one authorisation. The proposal includes reducing entry fees and eliminating renewal fees, aiming to replace the current licensing regime if accepted by the government.
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Wed, Sep 18, 2024
The Economic Times
Trai recommends overhaul of telecom licensing regime
The Telecom Regulatory Authority of India (Trai) has proposed a unified authorisation regime for telecom services, including mobile, internet, and satellite. This overhaul aims to simplify the licensing process and reduce entry fees. The proposal excludes over-the-top services and suggests merging various service categories to streamline operations.
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Wed, Sep 18, 2024
The Economic Times
Google offered to sell advertising marketplace AdX in EU antitrust probe
The European Commission last year charged Google with favouring its own advertising services, opening its fourth case against the world's most popular search engine and targeting a highly lucrative business.
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Wed, Sep 18, 2024
Business Standard
Vaishnaw urges industry to form task forces for compliance simplification
Vaishnaw suggested that once functional, the task forces across sectors such as manufacturing, IT services, among others, can meet once in a month to discuss the issues
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Wed, Sep 18, 2024
Business Standard
Godrej Capital to enter affordable housing loan segment by December
Godrej Capital, the financial services arm of the Godrej Group, is gearing up to enter the affordable housing loan segment by December, with plans to grow its assets under management (AUM) to Rs 17,000 crore by the end of the current financial year, its Managing Director Manish Shah said on Wednesday. The company currently manages an asset base of Rs 13,000 crore, after reaching an AUM of Rs 10,000 crore in FY24. It is now aiming to increase this to Rs 17,000 crore by FY25, with a target of expanding to Rs 30,000 crore by March 2026 and a longer-term goal of achieving Rs 50,000 crore in AUM by March 2028, Shah stated. The company's strategic focus will be on the small and medium enterprises (SME), micro, small, and medium enterprises (MSME), and home loan segments. As part of its expansion, Godrej Capital will make its foray into the affordable housing loan market by the end of the year. "Our focus will be towards smaller loan amounts, aimed at meeting the needs of affordable ...
Business Line
Data benchmarking for REITs launched for easy access to information
As part of this initiative, under SEBI’s guidance, three leading financial services companies — CareEdge, CAMS, and KFintech — launched dedicated platforms
The Economic Times
The Goa cabinet has approved a proposal by IIT alumni to invest Rs 700 crore in introducing electric buses for the state's public transport system. The initiative aims to roll out 500 EV buses, enhancing the fleet of Kadamba Transport Corporation Limited and reviving non-operational routes and interstate services.
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Wed, Sep 18, 2024
The Economic Times
CAMS, CareEdge, KFintech set up dedicated platforms for REIT information
Financial services companies CareEdge, CAMS, and KFintech, along with the Indian REITs Association, have launched platforms to provide key information on Real Estate Investment Trusts (REITs). This initiative aims to enhance transparency and help investors make informed decisions by offering comprehensive data and comparative analysis under the guidance of SEBI.
Business Standard
Benchmarks settle lower as investors await Fed rate decision
The domestic equity market ended with minor losses on Wednesday as investors eagerly anticipated the US Federal Reserve's interest rate decision. The benchmark Nifty 50 index closed below the 25,400 level, snapping a two-day winning streak. IT, pharma and energy stocks weighed down the market, while financial services and private banks shares witnessed buying interest.
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Wed, Sep 18, 2024
The Economic Times
Godrej Capital to enter affordable housing loan segment, eyes AUM of Rs 17,000 cr by Dec-end
Godrej Capital, the financial services arm of the Godrej Group, plans to enter the affordable housing loan segment and aims to grow its assets under management to Rs 17,000 crore by 2024. The company targets Rs 30,000 crore by March 2026 and Rs 50,000 crore by March 2028.
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Wed, Sep 18, 2024
The Economic Times
Chevron to set up $1 billion Chevron ENGINE centre at RMZ Ecoworld 30-series in Bengaluru
RMZ Corporation has leased over 3 lakh sq ft of office space to Chevron Global Technology & Services in Bengaluru. This space will house Chevron's first global captive centre outside the US. The facility, located in RMZ Ecoworld, will be operational by year-end and can accommodate over 2000 employees.
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Wed, Sep 18, 2024
The Economic Times
Market Wrap: Sensex, Nifty end in red after recording lifetime highs as Infosys, TCS trigger fall
Indian headline indices ended lower on Wednesday, led by declines in IT heavyweights Infosys and TCS. Nifty closed at 25,377.55, down 41 points, while Sensex settled at 82,948.23, down 131.43 points. Banking and financial services sectors were the only gainers among Nifty sectoral indices.
Business Standard
TCS inks 2-year partnership deal with McDonald's Philippines
Tata Consultancy Services (TCS) informed that it has signed a two-year partnership with George Yang-led Golden Arches Development Corporation (GADC), master franchise holder of McDonald's in Philippines to modernize IT Landscape for 760+ restaurants.
Mint
Top Gainers and Losers Today : The Sensex lost 131.43 points, or -0.16, to settle at 83079.66, while the Nifty lost 41.0 points, or -0.16, to close at 25418.55.
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Wed, Sep 18, 2024
Business Standard
Oracle Financial Services Software Ltd leads losers in 'A' group
Rites Ltd, Mphasis Ltd, Blue Dart Express Ltd and Time Technoplast Ltd are among the other losers in the BSE's 'A' group today, 18 September 2024.
The Economic Times
Financial services startup Kaleidofin raises $13.8 million funding from Rabo Partnerships, others
Kaleidofin has secured $13.8 million in equity funding led by Rabo Partnerships, with participation from existing investors. The funds will help expand its lending portfolio and enhance technology and risk services. Kaleidofin provides financial solutions to low-income customers and businesses in India's informal economy, facilitating over $2.7 billion in loans since 2020.
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Wed, Sep 18, 2024
The Economic Times
Buy Krishna Institute of Medical Sciences, target price Rs 3300: HSBC
Krishna Institute of Medical Sciences Ltd., incorporated in the year 1973, is a Small Cap company (having a market cap of Rs 21735.55 Crore) operating in Hospitals & Allied Services sector.
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Wed, Sep 18, 2024
The Economic Times
As stock market is shifting from value to quality, how S Naren is investing
Value stocks have started to underperform on Dalal Street, while quality stocks are gaining traction. S Naren of ICICI Prudential Mutual Fund discusses why he is shifting towards quality-oriented value stocks and the importance of asset allocation. He also highlights sectors like banking and financial services as having significant value currently.
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Wed, Sep 18, 2024
The Economic Times
Meta faces hefty EU antitrust fine over classified ads practices: report
Meta Platforms Inc is set to face a significant fine from the EU over allegations of trying to dominate the classified advertising market. The EU claims Meta links its free Marketplace services with Facebook to undermine competitors. A decision could be announced next month, marking one of the last investigations by competition chief Margrethe Vestager.
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Wed, Sep 18, 2024
Business Standard
Financials stocks were trading in the positive zone, with the BSE Financial Services index rising 73.03 points or 0.62% at 11817.53 at 09:46 IST.
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Wed, Sep 18, 2024
The Economic Times
Bet on these 5 NBFCs as highly-anticipated rate cuts promise windfall for investors
With interest rate cuts expected this year, non-banking financial companies (NBFCs) are set to benefit significantly. Analysts highlight the potential for growth in NBFC assets under management, especially in consumer finance and gold-based lending. Stocks like Bajaj Finance, M&M Financial Services, and Shriram Finance are recommended for investment due to their strong asset quality and favorable loan compositions.
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Wed, Sep 18, 2024
The Economic Times
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Wed, Sep 18, 2024
The Economic Times
Naspers gets CCI's clearance to buy minority stake in Vastu Housing Finance Corp
The Competition Commission of India has approved Naspers Ventures' acquisition of a minority stake in Vastu Housing Finance Corporation Ltd. Naspers Ventures, a subsidiary of Prosus NV, will acquire less than 10% equity in VHFCL, which provides home loans and other financial services. The deal ensures fair competition in the marketplace.
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Tue, Sep 17, 2024
The Economic Times
Savers turn investors as bank deposits fall to 42% in 2024 from 53% in 2020: Uday Kotak
Kotak suggested that investors adopt a holistic approach to financial services, emphasizing the need for a mindset shift in response to the evolving landscape of household financial assets. This, according to Kotak, is essential for successful financial management in the future.
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Tue, Sep 17, 2024
Business Line
Broker’s Call: Dixon Technologies (Buy)
Motilal Oswal Financial Services
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Tue, Sep 17, 2024
Business Standard
Triveni Turbine Ltd leads losers in 'A' group
Godfrey Phillips India Ltd, Inox Green Energy Services Ltd, BLS International Services Ltd and Prakash Industries Ltd are among the other losers in the BSE's 'A' group today, 17 September 2024.
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Tue, Sep 17, 2024
Business Standard
Geojit Financial Services Ltd leads losers in 'B' group
Biofil Chemicals & Pharmaceuticals Ltd, Vimta Labs Ltd, Ruchira Papers Ltd and Sportking India Ltd are among the other losers in the BSE's 'B' group today, 17 September 2024.
CNBC TV18
BLS International Services Block Deal: Shares fall 4% after block deal worth ₹224 crore
As many as 55 lakh shares or 1.3% of the overall equity changed hands in the block deal, according to data available on the exchanges.
Business Standard
BSE defers IT services firm Trafiksol's IPO after investors' concern
Company's issue had garnered bids over Rs 10,000 cr; participants approached Sebi alleging irregularities
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Tue, Sep 17, 2024
Business Standard
BSE defers IT services firm Trafiksol's IPO after investors' concern
Company's issue had garnered bids over Rs 10,000 cr; participants approached Sebi alleging irregularities
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Tue, Sep 17, 2024
The Economic Times
TML Securities Trust sells 1.14 crore new ordinary shares of Tata Motors under DVR scheme
The company has recently canceled its DVR (Differential Voting Rights) shares and is replacing them with ordinary shares. According to the new scheme, shareholders will receive 7 ordinary shares for every 10 DVR shares they previously held. Axis Trustee Services, acting as an Independent Trustee, will now manage the distribution of the sale proceeds.
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Tue, Sep 17, 2024
The Economic Times
EaseMyTrip forays into medical tourism industry
EaseMyTrip.com has acquired a 49% stake in Pflege Home Healthcare and 30% in Rollins International, marking its entry into the medical tourism sector. This move aims to integrate wellness and healthcare services into its travel solutions. The medical tourism industry is currently valued at USD 7.69 billion and is expected to grow significantly by 2029.
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Tue, Sep 17, 2024
CNBC TV18
EaseMyTrip forays into medical tourism with two acquisitions worth ₹90 crore
EasyMyTrip Share Price | Last month, the company's co-founder Prashant Pitti told CNBC-TV18 that the company plans to keep prioritising profit growth, with a stronger focus on expanding into non-air travel services and international markets.
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Tue, Sep 17, 2024
Mint
Dell to focus on AI factory, GenAI services to grow in India
The Dell AI Factory integrates Dell’s infrastructure with Nvidia's graphic processing units and AI capabilities to support businesses on their AI journey.
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Tue, Sep 17, 2024
Business Line
Geojit Financial Services’ stock plunges 6.42% amid rights issue plans
The company’s decision to launch the rights issue, approved by the Board of Directors, follows strong Q1 FY 2024-25 results, with a significant increase in consolidated net profit and revenue
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Tue, Sep 17, 2024
Mint
Tata Consultancy Services share are up by 0.29%, Nifty up by 0.12%
TCS Share Price Today : On the last trading day, TCS opened at ₹4505.15 and closed at ₹4526. The stock reached a high of ₹4530.85 and a low of ₹4468.75 during the day. Overall, it showed a positive movement, closing higher than its opening price.
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Tue, Sep 17, 2024
Business Standard
Firstsource Solutions share price up 4% on inking pact with Microsoft
The uptick in Firstsource Solutions share price came after the company announced that it has inked a pact with Microsoft to deliver cutting-edge digital transformation services to clients worldwide.
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Tue, Sep 17, 2024
Business Standard
Dreamfolks Services launches highway dining for travellers
Dreamfolks Services has announced the launch of its newest service - highway dining for travellers, which would be available at over 600 outlets along key highways across the country.
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Tue, Sep 17, 2024
The Economic Times
Buy Adani Power, target price Rs 755: Anand Rathi
Adani Power Ltd. key Products/Revenue Segments include Coal, Income From Power Supply, Sale of services for the year ending 31-Mar-2022.
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Tue, Sep 17, 2024
CNBC TV18
Bajaj Housing Finance shares will surge to 3x their IPO price, says analyst with first 'buy' rating
Bajaj Housing Finance became the fourth best listing of 2024, behind BLS E-Services, Premier Energies and Unicommerce e-solutions, when it listed on the bourses on Monday at a 114% premium to its IPO price.
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Tue, Sep 17, 2024
