niftify.in

According to the bulk deal data available on the National Stock Exchange (NSE), Peak XV Partners sold a 3.81% stake in Honasa Consumer and Fireside Ventures offloaded a 2.03% stake in the company.

CNBC TV18

Latest Market News Today Live Updates: Follow Mint's market blog for real-time updates on your favourite companies. This blog keeps you informed on all things Dalal Street and global markets.

Mint

Wed, Sep 18, 2024

Indian investors are closely watching the decision, as it is expected to shape the market trend on Thursday, September 19. Experts suggest that a 50bps rate cut could boost market sentiment.

Mint

Wed, Sep 18, 2024

The merger between Aster DM Healthcare and Quality CARE India is nearing completion, with a deal expected by month-end. The merged entity, Aster DM Quality CARE, will become India's second-largest listed hospital chain. Blackstone and TPG will hold significant stakes but without additional control rights.

The Economic Times

Wed, Sep 18, 2024

REC Ltd has signed memorandums of understanding worth Rs 1.12 lakh crore with renewable energy developers for projects over five years. These include solar-wind hybrid, round-the-clock renewable power, and other renewable energy initiatives. The company aims to increase its renewable energy loan book to over ₹3 lakh crore by 2030.

The Economic Times

Wed, Sep 18, 2024

The US central bank is increasingly confident that strength in the jobs market can be maintained with an "appropriate recalibration" of policy, said Federal Reserve Chair Jerome Powell. He added that he doesn't believe the central bank waited too long to cut its interest rate target.

The Economic Times

Wed, Sep 18, 2024

India's home and household market is projected to reach USD 237 billion by 2030, growing at over 10% annually. This growth is driven by rising disposable incomes, shifting consumer preferences, and a focus on comfort and convenience. Tier 2 and tier 3 cities are emerging as significant growth hubs.

The Economic Times

Wed, Sep 18, 2024

SpiceJet, which has statutory dues of more than Rs 601 crore, has received a good response for its Rs 3,000 crore-worth sale of shares to qualified institutional buyers. Operating with a reduced fleet as well as facing financial and legal headwinds, the carrier is looking to raise funds. Sources in the know on Wednesday said the qualified institutional placement has been oversubscribed, with participation from various investors, including family offices and institutional funds. Some of the investors include family offices of Madhu Kela, Akash Bhanshali, Sanjay Dangi, Rohit Kothari, and Bandhan Bank, the sources said. There was no official comment from the airline. "Due to our financial constraints, our company has not been able to fulfil the statutory liabilities accruing on us on a month to month basis," the airline said in the preliminary placement document related to raising Rs 3,000 crore. As per the document, the airline has not made provident fund payments to the tune of ov

Business Standard

Wed, Sep 18, 2024

State-owned Bharat Heavy Electricals Ltd (BHEL) on Wednesday said it has paid a final dividend of Rs 55 crore for 2023-24 to the government. To this effect, a cheque towards the final dividend on the equity (63.17 per cent) held by the Government of India, was presented to H. D. Kumaraswamy, Union Minister of Heavy Industries and Steel by K Sadashiv Murthy, Chairman and Managing Director, BHEL, a company statement said. The total dividend paid to the company's shareholders for 2023-24 amounted to over Rs 87 crore.

Business Standard

Wed, Sep 18, 2024

Maruti Suzuki India is set to launch its first electric vehicle, the Concept eVX SUV, in January 2025. The company plans to establish around 25,000 EV charging points and collaborate with oil marketing and energy companies to build a robust charging ecosystem. This initiative aims to address the challenges of EV adoption in India.

The Economic Times

Wed, Sep 18, 2024

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.

The Economic Times

Wed, Sep 18, 2024

Star India, owned by Walt Disney, has sought $940 million in damages from Zee Entertainment for not honoring a $1.5 billion ICC TV rights deal. Zee refuted the claims and stated that arbitration is still in its initial stages. The matter will likely continue post Star's merger with Viacom18.

The Economic Times

Wed, Sep 18, 2024

Yum! Brands, the US-based quick-service restaurant major, on Wednesday announced the appointment of Rohan Pewekar as the Managing Director (MD) for Pizza Hut in the Indian subcontinent. Yum! Brands owns restaurant chains, including KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill. Pewekar will be based in Gurugram and will lead Pizza Hut's operations across India, Nepal, Bangladesh, Sri Lanka, and the Maldives, according to a statement. He will lead Pizza Hut for its next phase of expansion in the region, it added. Pewekar, an alumnus of IIM Calcutta and Wharton School, has been with Pizza Hut for over four years. He played a pivotal role in driving the brand's rapid growth in the region, serving as Chief Strategy and Finance Officer, it added. He has nearly 15 years of experience in B2C sectors and brings cross-functional expertise in finance, go-to-market strategies, channel expansion, and more. Before joining Pizza Hut, Pewekar worked with Samsung Electronics India and ..

Business Standard

Wed, Sep 18, 2024

PTCs are issued across three tranches- with series A1 having an issue size of Rs 3,500 crore and maturing in 24 months, series A2 of Rs 1,800 crore and maturing in 34 months and series A3 of Rs 3762 crore for 60 months.

The Economic Times

Wed, Sep 18, 2024

Reliance Power is exploring multiple avenues, including preferential issue, qualified institutional placement (QIP), rights issue and foreign currency convertible bonds.

CNBC TV18

Wed, Sep 18, 2024

Gaming and sports media company Nazara Technologies on Wednesday said its board has approved a preferential equity issue to raise Rs 900 crore. Nazara also announced increasing its stake in Absolute Sports to 91 per cent. The fresh capital will fuel the firm's strategic acquisitions and business expansion, and provide newer growth opportunities, a company statement said. "The preferential equity issue amounting to INR 900 crores will be placed with marquee investors such as SBI Mutual Fund, Junomoneta Finsol (an associate of Plutus Wealth), Think Investments, Discovery Investments, Mithun and Siddharth Sacheti, Cohesion Investments, Chartered Finance and Leasing, Ratnabali Investments and Aamara Capital, further strengthening Nazara's financial foundation for long-term expansion," it said. Nazara acquired an additional 19.35 per cent stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.5 crores, with 50 per cent of the consideration paid in cash and the remaining

Business Standard

Wed, Sep 18, 2024

The centre is expected to accelerate data science and AI solutions to meet Pfizer’s ambitions in modernising marketing and creating an agile sales force

Business Line

Wed, Sep 18, 2024

Oil trades 1% lower after mixed storage data ahead of US Fed verdict; Brent crude at $73, faces resistance $75/bbl

Mint

Wed, Sep 18, 2024

Tata Motors reported a penetration of 12.05 per cent, down from 12.61 per cent last year, while JSW-MG Motors surged to 33.77 per cent, up from 23.75 per cent

Business Standard

Wed, Sep 18, 2024

Online food delivery aggregator Zomato on Wednesday said it has received a GST demand order along with interest and penalty amounting to Rs 17.7 crore from the Assistant Commissioner of Revenue, West Bengal. The demand order, received by the company on Tuesday, is with respect to non- payment of GST on delivery charges and interest, penalty thereon. "We believe that we have a strong case on merits and the Company will be filing an appeal against the order before the appropriate authority," Zomato said in a regulatory filing. The order is for the period April 2021 to March 2022 passed by Assistant Commissioner of Revenue, Government of West Bengal confirming demand of GST of Rs 11,12,79,712 with interest of Rs 5,46,81,021 and penalty of Rs 1,11,27,971. "The Company in its response to the show cause notice had clarified on the issue along with relevant documents and judicial precedents, which appears to not have been appreciated by the authorities while passing the order," Zomato ...

Business Standard

Wed, Sep 18, 2024

The FMCG major said that it has grown its distribution reach by more than 1.5x times over the last three years, quick commerce growing rapidly

Business Line

Wed, Sep 18, 2024

Morgan Stanley has finalized a deal for 1.1 million sq ft of office space in Mumbai's Goregaon suburb, marking the largest commercial real estate lease transaction ever. The nine-and-a-half-year lease at Oberoi Commerz III involves a total rental payout exceeding Rs 2,122 crore and will consolidate the company's Mumbai operations.

The Economic Times

Wed, Sep 18, 2024

Mahanagar Telephone Nigam Ltd (MTNL) faces fresh trouble as its loan account with Punjab National Bank (PNB) has been downgraded to a Non-Performing Asset (NPA) due to non-payment of interest and instalment. The outstanding amount across multiple accounts totals Rs 441 crore, with an overdue amount exceeding Rs 46 crore.

The Economic Times

Wed, Sep 18, 2024

The company, a unit of power producer NTPC, will only issue new shares, and existing shareholders will not sell any stake, the draft papers showed

Business Standard

Wed, Sep 18, 2024

The initial public offer of Arkade Developers got subscribed 29.42 times on Wednesday, day three of the share sale. The Rs 410-crore initial share sale received bids for 69,94,46,440 shares against 2,37,75,719 shares on offer, according to NSE data. The quota for non-institutional investors garnered 58.80 times subscription while the Retail Individual Investors (RIIs) part got subscribed 33.26 times. The portion for Qualified Institutional Buyers (QIBs) received 61 per cent subscription. The initial public offer of Arkade Developers Ltd got fully subscribed on the first day of the share sale on Monday and ended the day with 5.79 times subscription. Realty firm Arkade Developers Ltd has raised Rs 122.40 crore from anchor investors. The company has fixed a price band of Rs 121-128 per share for its Rs 410-crore initial public offering. The initial share sale will conclude on September 19. The IPO is entirely a fresh issue of equity shares worth Rs 410 crore with no offer-for-sale

Business Standard

Wed, Sep 18, 2024

The demand order, received by the company on Tuesday, is with respect to non- payment of GST on delivery charges and interest, penalty thereon.

The Economic Times

Wed, Sep 18, 2024

Three broad categories of telecommunication service authorisations proposed in move to streamline rules

Business Standard

Wed, Sep 18, 2024

Plans 2 more plants for lithium iron phosphate

Business Line

Wed, Sep 18, 2024

Procter & Gamble Hygiene and Health Care Ltd (PGHHC) sees positive trends in rural and urban consumption, with inflation softening. The company plans to cater to both markets through various retail channels. PGHHC is also leveraging data and digital transformation to optimize inventory and sales. The firm anticipates continued growth despite some near-term challenges.

The Economic Times

Wed, Sep 18, 2024

The company will issue up to 63,000 "rated, listed, senior, unsubordinated, secured, transferable, redeemable NCDs with a face value of ₹1 lakh each, the Jaipur based housing finance company said in an exchange filing.

CNBC TV18

Wed, Sep 18, 2024

Crude inventories fell by 1.6 million barrels to 417.5 million barrels in the week ending Sept. 13, the Energy Information Administration (EIA) said, compared with analysts' expectations in a Reuters poll for a 500,000-barrel draw. Gasoline and distillate inventories, meanwhile, rose last week.

The Economic Times

Wed, Sep 18, 2024

On the PGHH call, Mrinalini Srinivasan, CFO, said that positive trends are finally emerging in the Indian fast-moving consumer goods (FMCG) industry, both in urban and rural areas

Business Standard

Wed, Sep 18, 2024

The renewable energy arm of Maharatna NTPC will only issue new shares, and existing shareholders will not sell any stake, draft papers showed.

CNBC TV18

Wed, Sep 18, 2024

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 Standard

Wed, Sep 18, 2024

The plan to roll out six new products, including two electric vehicles under the Franco-Japanese automotive alliance Renault Nissan, at a total outlay of Rs 5,300 crore has been progressing and is on schedule, a top official of French car major Renault India said on Wednesday. Renault-Nissan, in February 2023, had announced investments of USD 600 million (about Rs 5,300 crore) in India, to bring in six new products, including two electric cars, and an upgradation of their Chennai plant. Renault India Country CEO and Managing Director Venkatram Mamillapalle at an event said on Wednesday that about 70-80 per cent of the total committed investments have been invested so far. "We have announced investments of Rs 5,300 crore to introduce six new products. It (the project) is on schedule. You will be hearing from us hereafter, very soon (on the launch of new models)," he said. Mamillapalle was speaking to reporters after unveiling a new range of "Night and Day Limited Edition" variants .

Business Standard

Wed, Sep 18, 2024

Employees will start receiving Prime, Amazon’s speedy shipping and video subscription service, as part of their compensation beginning early next year, the company said. The additional investment in pay and benefits, $2.2 billion, is the company’s largest, logistics chief Udit Madan said in the blog.

The Economic Times

Wed, Sep 18, 2024

WTM Ashwani Bhatia says benchmarking to bring accuracy, efficiency, and more customers into its fold

Business Standard

Wed, Sep 18, 2024

NTPC Green Energy files draft papers for ₹10,000 crore IPO

Mint

Wed, Sep 18, 2024

The dispute centres on the reappointment of chairperson Rashmi Saluja and an ongoing power struggle between the Burman family and Religare's management.

Mint

Wed, Sep 18, 2024

The radiology biz has not been contributing much to the margins or profitability

Business Line

Wed, Sep 18, 2024