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Business Standard

SpiceJet gets good response for Rs 3k cr worth share sale, oversubscribed

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

Prakash Industries Ltd leads losers in 'A' group

DCW Ltd, Tata Motors Ltd, Aether Industries Ltd and Sumitomo Chemical India Ltd are among the other losers in the BSE's 'A' group today, 11 September 2024.

CNBC TV18

'Keep IRFC shares for long-term' — This chartist suggests key levels to add positions

Technical analyst Prakash Gaba said that IRFC shares are currently trading around the support zone of ₹170. He recommended investors to continue to hold the stock for the long term.

The Economic Times

India Semiconductor Mission to expand in Phase Two with new proposals, focus on full ecosystem development

The government plans to expand the India Semiconductor Mission (ISM) to support semiconductor chip fabrication, packaging, and other ecosystem companies. ISM CEO Akash Tripathi mentioned that 20 more proposals are under consideration. The initiative aims to attract investments and ensure a comprehensive ecosystem for semiconductor manufacturing in India.

Business Standard

Aspiring for 10 semiconductor manufacturing plants in 10 yrs: ISM CEO

India aspires to have 10 semiconductor manufacturing plants in 10 years but the nature of support from the government may vary based on the development in the industry, a top official of the India Semiconductor Mission said on Monday. While speaking at a joint presser of mobile devices industry body ICEA and Semicon India organiser Semi, Akash Tripathi said while setting up Indian Semiconductor Mission (ISM), it was envisioned to get two or three semiconductor manufacturing plants, two or three display fabs and various compound semiconductors. "We will always be engaged with the industry but the nature of engagements may differ. 10 years down the line there will be projects that will be operational, producing semiconductors, the ecosystem will be developed, then things will be different. Aspiration-wise, we would like to have 10 fabs," Tripathi said. The government has received 20 proposals for setting up semiconductor units including the chip packaging plants. Tripathi said that a

Business Standard

SAIL willing to participate in Critical Mineral Mission: Chairman Amarendu

SAIL, the country's largest steel player, is willing to participate in the Critical Mineral Mission, which aims to secure the country's critical mineral supply chain by ensuring mineral availability from domestic and foreign sources, the company's Chairman Amarendu Prakash said on Thursday. The Union Budget 2024-25 had proposed launching a Critical Mineral Mission for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets. "FM Nirmala Sitharaman announced the Critical Mineral Mission. In that mission a lot of things will be discussed, all possibilities will be discussed. So we will be watching this and seeing what opportunities are there. "As the Critical Mineral Mission expands and things get discussed, we will be watching and seeing if there are opportunities for exploring something on SAIL's part," the Chairman told reporters on the sidelines of ISA Steel Conclave. The Critical Mineral Mission aims to secure the country's critica

The Economic Times

SAIL willing to participate in Critical Mineral Mission: Chairman Amarendu Prakash

SAIL, India's largest steel producer, is open to participating in the Critical Mineral Mission aimed at securing the country's mineral supply chain. The mission, announced in the Union Budget 2024-25, focuses on domestic production, recycling, and overseas acquisition of critical minerals like cobalt and lithium.

The Economic Times

Xolopak India gets pre-IPO backing from Bollywood stars Aamir Khan, Ranbir Kapoor and top investors

Xolopak India Limited, a leader in sustainable disposable packaging, has secured pre-IPO backing from notable investors including Bollywood stars Aamir Khan, Ranbir Kapoor, and producer-director Karan Johar. Prominent investor Russell Mehta, owner of Rosy Blue India and Akash Ambani’s father-in-law, also joined the pre-IPO round.

The Economic Times

JioTV+ offers over 867 live TV channels, best of streaming content: Akash Ambani

JioTV+, pre-installed on JioFiber's set-top boxes, offers over 860 live TV channels and content from various OTT apps. The platform simplifies content discovery with features like fast channel switching, personalized recommendations, and a voice assistant. Jio's new TvOS enhances the viewing experience with ultra HD 4K video and Dolby integration.

Hindustan Times

‘Classist, elitist’: Delhi entrepreneur turns delivery agent, slammed for reaction to customer's tip

Akash Bansal, co-founder of a firm called Skyvik, faced criticism after describing his cash-on-delivery experience.

CNBC TV18

BEL shares down 10% from record high; time to book profit or it is long-term play?

Technical analyst Prakash Gaba recommended investors to 'Hold' Bharat Electronics shares for the long term and buying on dips.

Business Standard

JM Financial Private Equity invests Rs 40 crore in spice brand Zoff

Zoff, founded by brothers Akash Agrawal and Ashish Agrawal, has achieved a 40 per cent compound annual growth rate (CAGR) over the past four years, leveraging e-commerce platforms, they said

Mint

Prakash Pipes Q1 Results Live: Profit Rise by 37.52% YoY

Prakash Pipes Q1 Results Live: Revenue increased by 16.67% YoY & profit increased by 37.52% YoY

The Economic Times

Stock market update: Stocks that hit 52-week highs on NSE in today's trade

Pokarna Ltd, Kriti Nutrients, Marksans Pharma, Prakash Pipes and Edelweiss Financial, hit their fresh 52-week highs during the day.

The Economic Times

Tata Play takes its easy bingeing solution to Bangladesh

Tata Play has expanded its global reach by partnering with Akash Digital TV in Bangladesh to offer its white label solution, Tata Play Binge. This collaboration allows Akash Digital TV to utilise Tata Play's Cloud technology, simplifying content access for OTT aggregators. Tata Play aims to enhance its platform internationally and generate revenue by providing end-to-end development opportunities for OTT aggregators worldwide.

The Economic Times

SAIL to invest Rs 6,500 Cr towards capex in FY25: CMD Amarendu Prakash

Steel Authority of India Ltd (SAIL) plans to invest ₹6,500 crore this fiscal year as part of its ₹1 lakh crore capex over the next few years, said CMD Amarendu Prakash. Speaking at an Indian Steel Association event, Prakash addressed concerns over Chinese steel dumping and urged government action to mitigate this issue.

The Economic Times

For NRI quota in government medical colleges, Karnataka govt wants 500 additional MBBS seats

The Karnataka government has urged the Centre to approve extra MBBS seats in autonomous government medical colleges under the Department of Medical Education starting from the academic year 2025-26. Medical Education Minister Sharan Prakash Patil stated that he has formally requested the Chairman of the National Medical Commission (NMC) to authorize a 15% NRI quota by creating 508 additional supernumerary MBBS seats across 22 government medical colleges in the state.

The Economic Times

Trust Mutual Fund files draft document with Sebi for small cap fund

Targeting long-term growth, this new scheme primarily invests in small-cap equities, benchmarked against Nifty Smallcap 250 TRI. Mihir Vora and Aakash Manghani will manage the portfolio.

The Economic Times

About 16% Reliance shareholders oppose reappointment of Aramco chairman as director

Reliance Industries' shareholders approved reappointment of Yasir Othman H Al-Rumayyan and appointed Haigreve Khaitan as independent directors. They also reappointed P M S Prasad. The board is led by Mukesh D Ambani and includes his children Isha, Akash, and Anant, along with cousins Hital and Nikhi Meswani.