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Business Standard

S.M. Gold Ltd leads gainers in 'B' group

Gautam Gems Ltd, Menon Bearings Ltd, Take Solutions Ltd and MRC Agrotech Ltd are among the other gainers in the BSE's 'B' group today, 18 September 2024.

Business Standard

S.M. Gold Ltd leads gainers in 'B' group

Mallcom (India) Ltd, Ecos (India) Mobility & Hospitality Ltd, Modison Ltd and Neogen Chemicals Ltd are among the other gainers in the BSE's 'B' group today, 17 September 2024.

Business Standard

Boeing workers vote on whether to strike, shut down aircraft production

Boeing waited to learn Thursday whether 33,000 aircraft assembly workers, most of them in the Seattle area, are going on strike and shutting down production of the company's best-selling planes. Members of the International Association of Machinists and Aerospace Workers were voting on whether to approve a contract offer that includes 25% pay raises over four years. If the factory workers reject the contract and two-thirds of them vote to strike, a work stoppage would begin Friday at 12:01 a.m. PDT. A walkout would not cause flight cancellations or directly affect airline passengers, but it would be another blow to Boeing's reputation and finances in a year marked by problems in its airplane, defense and space operations. New CEO Kelly Ortberg made a last-ditch effort to avert a strike, telling machinists Wednesday that no one wins in a walkout. For Boeing, it is no secret that our business is in a difficult period, in part due to our own mistakes in the past, he said. Working ...

Business Standard

Eyeing 10% share of worldwide patents in 6G services: Minister Scindia

After the fastest 5G rollout, India is targeting a tenth of all worldwide patents in sixth generation mobile services, Union Telecom Minister Jyotiraditya M Scindia said on Wednesday. He was delivering a keynote address at the 51st edition of the AIMA National Management Convention here. "Whilst we have the fastest growing 5G network in the world, in 22 months building out 4.5 lakh 4G towers, building out our own 4G technology for BSNL, we are also embarking on our path towards 6G by setting up the Bharat 6G Alliance. "Our target is to ensure 10 per cent of international worldwide patents for India in 6G through this Bharat 6G alliance in the days to come," he said. India has emerged as a beacon of hope and stability amid tremendous amount of global economic and social turbulence, the minister said. "She (India) today is rising on the world stage, no longer an embodiment of a struggling economy, but an economy that is on the rise, an economy that is rising like a phoenix in the co

Business Standard

India's own 4G stack to be rolled out by mid-2025: Scindia at AIMA event

India's own 4G technology stack will be rolled out by mid-2025, Union Minister Jyotiraditya M Scindia said on Wednesday as he outlined three key targets for the country and the government. Scindia, Minister of Communications, was delivering a keynote address at the 51st edition of the AIMA National Management Convention here. "India, for the first time in her existence, has developed her own 4G technology stack that will be rolled out by the middle of next year," he said. It is important not only to implement technology, but also to design and develop indigenous technology, Scindia further said. "There are three targets that we have set for ourselves. The first target is to ensure saturation...Every corner of our country must be connected digitally. Every single person must be able to avail of every single opportunity through the digital revolution," he said. India has raised almost four and a half lakh towers across the country, he said, adding that the government has committed

Business Standard

Congress vs Sebi chief Buch: Trading strategies in M&M, Pidilite, Wockhardt

After ICICI and Wockhardt; M&M, Dr.Reddy's and Pidilite are the latest company names to be dragged in the Congress versus Sebi chief controversy. Here's a technical outlook on these stocks.

The Economic Times

Mumbai-Frankfurt Vistara flight makes emergency landing in Turkey after bomb threat

A Vistara Airlines flight from Mumbai to Frankfurt made an emergency landing in Erzurum, Turkey, after a note reading 'bomb on board' was found in a lavatory. All 234 passengers and 13 crew members were safely evacuated. Authorities are conducting security checks, and operations at Erzurum Airport are halted until 9 p.m. local time.

The Economic Times

As M&A scene hots up, India Inc strengthens in-house legal teams

Large Indian conglomerates are strengthening their in-house legal teams with M&A specialists due to a surge in local and cross-border deals. Companies like Reliance Industries, Cipla, and Aditya Birla Group are hiring experienced lawyers to reduce reliance on external counsel and enhance transaction efficiency.

Business Standard

DGCA releases regulatory reforms to reduce compliance burden for operators

In a statement, DGCA informed that currently, there are two primary Civil Aviation Requirements (CARs) governing the continuing airworthiness of aircraft: CAR-M and CAR-145

Business Standard

DGCA seeks to reduce compliance burden with new norms for light aircraft

Aviation watchdog DGCA has come out with new regulations to simplify the airworthiness requirements for light aircraft and non-scheduled plane operators as part of efforts to reduce compliance burden. The new regulations will come into effect from January 1, 2025, the Directorate General of Civil Aviation (DGCA) said in a release on Tuesday. At present, there are two primary Civil Aviation Requirements (CARs) governing the continuing airworthiness of aircraft -- CAR-M and CAR-145. CAR-M covers the continuing airworthiness of all aircraft types, including those used for scheduled operations, non-scheduled operations, flying training, general aviation, and private operations. CAR-145 specifies regulations for the maintenance of aircraft used in commercial operations and complex motor aircraft. These regulations are applicable uniformly across organisations irrespective of size and for maintenance processes required for commercial as well as private aircraft. In order to put in place

Business Standard

Why Sebi is facing criticism over ICICI Securities, ICICI Bank merger

Facing an unprecedented attack on its credibility, the last thing that the SEBI would want is to give the impression that while all M&A is equal, some transactions are more equal than others

Business Line

What should you do with the Amara Raja Energy & Mobility stock now?

From our earlier ‘buy’ recommendation in early June 2023, the stock has moved up by 142 per cent

Business Standard

Shriram Properties to focus on mid-segments; eyes doubling annual sales

Shriram Properties Ltd, the real estate division of the diversified conglomerate Shriram Group, would focus predominantly on medium housing segments as it aims to double sales volume, triple revenues over the next three years, a top official said on Friday. The company has rolled out a new brand identity SPLNxT (referring to Shriram Properties Ltd Next) which aims to transform the perception of Shriram Properties Ltd, elevating brand image, Executive Director and Group CEO Gopalakrishnan said here. The year 2024 also marks the silver jubilee year for the real estate entity and has completed over 42 projects across key cities. It has another 42 new projects in the pipeline, he said. Gopalakrishnan along with Shriram Properties Ltd Chairman and Managing Director Murali M and senior officials were here to announce the company's plans over the next three years. "As an integral part of SPLNxT, we are embarking on a mission that looks to double (sales) volume, triple income and quadruple

Business Standard

Eight-day rally takes Airtel's m-cap over Rs 9.5 trn; stock hits new high

Shares of Bharti Airtel are quoting higher for the eighth straight trading day, having rallied 11 per cent during the period, and taking the company's market capitalisation to over Rs 9.5 trillion.

Business Standard

DGCA slaps Rs 10 lakh fine on Air India Express for not paying compensation

Aviation regulator DGCA on Thursday imposed a penalty of Rs 10 lakh on Air India Express for non-payment of compensation to passengers for cancelled flights. The Directorate General of Civil Aviation (DGCA) carried out an inspection as per Annual Surveillance Programme (ASP) 2024 of scheduled domestic operators in June. This was in respect of norms pertaining to facilities and compensation that are to be provided to passengers. "During the surveillance inspection of the airlines, it was observed that Air India Express was not complying with the provisions of CAR Section-3, Series M, Part IV," DGCA said in a release. Subsequently, a show cause notice was issued to Air India Express. The regulator said the airline's reply revealed that it had not complied with the provisions for providing compensation to passengers affected due to cancellation of flights. For the violations, DGCA has imposed a fine of Rs 10 lakh on Air India Express. Specific details about the violations could not

Business Standard

Electric mobility right step in right direction for country: M&M CEO

Mahindra & Mahindra on Thursday came out strongly in support of electric mobility terming it a right step in the right direction for the country. The Mumbai-based auto major noted that supporting electric mobility is in the best interest of the nation. "The right direction for the country is EV focus and we believe that is what the government should support," Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm director Rajesh Jejurikar told reporters here. He was responding to a query regarding the company's stand on the Uttar Pradesh government announcing registration waivers for hybrid vehicles. The Uttar Pradesh government has come out with a full road tax waiver on the purchase of a hybrid car in the state. The move has been opposed by various automakers investing in electric mobility fearing other states could also follow the suit. "We are at a stage where we believe that the EV roadmap can be very strong with the right product and that's in the ...

Business Standard

Gold imports dip 4.23% to $12.64 bn in Apr-Jul over global uncertainities

India's gold imports, which have a bearing on the country's current account deficit (CAD), dipped by 4.23 per cent to USD 12.64 billion during April-July 2024-25 due to global economic uncertainties, according to government data. The imports stood at USD 13.2 billion in April-July 2023. In July alone, the imports declined by 10.65 per cent to USD 3.13 billion as against USD 3.5 billion in the same month last year. The inbound shipments were also in negative during June (-38.66 per cent) and May (-9.76 per cent). In April, the imports jumped to USD 3.11 billion from one billion in April 2023. According to a jeweller, the high prices are discouraging the imports but it will go up from September as festive season will start in India and the import duty cut benefit is also there. The government has slashed the customs duty on gold and silver to 6 per cent from 15 per cent. Gold prices rose Rs 300 to Rs 73,150 per 10 grams in the national capital on August 14 amid a jump in precious m

Business Standard

If T'gana govt doesn't honour commitments, we may go elsewhere: Amara Raja

Expressing concern over the financial health of the Congress government in Telangana, Jayadev Galla, Chairman of Amara Raja Energy & Mobility on Saturday said if it does not honour the commitments made by the previous BRS regime, then they may have to look elsewhere for its plant's capacity expansion. Galla's comments came at a time when Chief Minister A Revanth Reddy and his team are touring the US trying to hardsell Telangana as an investment destination. Earlier in the day, Amara Raja Group held a groundbreaking ceremony for their Customer Qualification Plant for cell manufacturing and also inaugurated Phase 1 of the battery pack plant of 1.5 GWh in Mahabubnagar district. The battery maker had signed a MoU with the previous BRS government for investing 9,500 crore, over a period of 10 years, for setting up research and development and a Greenfield manufacturing facility for Lithium-Ion battery-making in Telangana, which has an ultimate capacity up to 16 GWh and a Battery Pack ..

The Economic Times

If T'gana govt doesn't honour commitments, Amara Raja may go elsewhere for expansion: Jayadev Galla

Amara Raja Energy & Mobility's Chairman, Jayadev Galla, voiced worries about Telangana's financial state and urged the Congress government to fulfill commitments made by the previous BRS government. This comes as Chief Minister A Revanth Reddy tours the US promoting Telangana for investment. Amara Raja's expansion plans depend on the government's ability to honor industrial incentives.

Business Line

M&M and Tata Motors scramble to cut prices on inventory build-up, hybrid sops

M&M clarified price cuts are strategic and unrelated to Uttar Pradesh EV/hybrid policy

Business Standard

Virtual Galaxy Infotech raises Rs 21.44 cr ahead of IPO, to file DRHP soon

Virtual Galaxy Infotech on Tuesday said it has raised Rs 21.44 crore in its pre-IPO funding round from marquee investors. The company is now gearing up to file its Draft Red Herring Prospectus (DRHP) with the stock exchange to launch its SME IPO, the company said in a statement. Former RARE Enterprise Managing Director Devnanthan Govind Rajan, ex-director of Electra Partners Asia Fund Jayaraman Vishwanathan, and former COO & CFO of Yes Bank Asit Oberoi are among the investors who participated in the funding round. Other investors include M Srinivas Rao, former MD at the Bill and Melinda Gates Foundation, India, Umesh Sahay and Abhishek Narbaria, Co-Founders of EFC(I); Darshan Gangolli, former Executive Director at Altico Capital (Real Estate Fund); Abhishek More, Founder and CEO of Digikore Studios; and Amit Mamgain, Senior VP of Equity Sales at AMSEC. The company has appointed Shreni Shares as the merchant banker for the public offering. Virtual Galaxy Infotech is a Hybrid SaaS .

The Economic Times

3M India, M&M among 25 stocks that will trade ex-dividend this week. Do you own any?

Dividends are distributed to shareholders whose names are listed in the company's records on the record date. With the adoption of the T+1 settlement system, the record date and ex-dividend date are usually identical, except when market holidays occur immediately following the ex-date. Investors who buy the stock at least one day before the ex-date qualify for dividends, as settlement happens on the ex-date.

Mint

Dividend Stocks: M&M, Piramal Ent, Tata Power, among others to trade ex-dividend next week; Check full list here

Dividend Stocks: Several companies including Mahindra & Mahindra, Piramal Enterprises, Tata Power, among others are trading ex-dividend in the coming week.

The Economic Times

Risk-based audits of drug units to begin from July 1

The revised Schedule M, which is considered more stringent than the World Health Organization's (WHO) good manufacturing practices (GMP) in certain areas, was notified on December 28, 2023. Companies with turnover of over ₹250 crore will have to comply with the upgraded version of Schedule M, starting July 1, and the remaining others, which are largely micro, small, and medium enterprises (MSMEs), have been given a year's time to comply. Inspections on those firms will begin from January 1, 2025.