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BSE auto index surged 2%, capital goods, healthcare and oil & gas indices also up.
Hospitality firm OYO is planning to raise up to $1.2 billion (around Rs 8,000 crore) through an initial public offering and is expected to file the draft red herring prospectus with Sebi next week, sources told PTI on Thursday. OYO has appointed investment banks like JPMorgan, Citi and Kotak Mahindra Capital to manage its public issue, they added. Comments from OYO could not be obtained at the time of filing the story. The proposed initial public offer (IPO) plan of the hospitality firm follows the spectacular success of Zomato's IPO that ended with a bumper oversubscription on July 16, and was biggest since March 2020.
India's GDP expanded 13.5 per cent in the April-June quarter, the quickest pace in a year, to retain the world's fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.
No longer, Virendra Kapoor points out, are these awards given on the recommendation of ministers, or the Delhi-based liaison men who had ruled the roast till 2014.
High ground clearance, a wide cabin and tall stance all mean that the Carens glides over bad roads with ease and comfort and an engine performance that is adequate in terms of the power of this vehicle, says Pavan Lall.
'Companies are being forced to pay higher salaries to retain and hire employees due to a big rise in attrition in the industry.'
Top 5 losers include Lupin, Cipla, Sun Pharma, Dr Reddy's Lab and GAIL down 1.6%-11%.
Maruti Suzuki, Hyundai and M&M draw visitors with a range of concept cars.
US President Barack Obama's India visit, marked by "high-end symbolism", is a signal to businessmen of both countries to look for opportunities from each other, Mahindra Group Chairman and Managing Director Anand Mahindra has said.
Other members of the high-level advisory committee are former RBI Deputy Governor Usha Thorat, former Securities and Exchange Board of India Chairman C B Bhave, and Nachiket M Mor, Director of the Central Board of Directors of RBI, Governor Raghuram Rajan said.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
From FY18, Ind-AS will be mandatory for all listed entities, barring those listed on the SME platform.
Nikunj Saraf, Vice President Choice Wealth, answers your Mutual Fund queries.
On Wednesday, September 18, the Supreme Court denounced manual scavenging as 'most uncivilised and inhuman'. 'It is the notion that they are born to do this which needs to change.'
Among the cars unveiled at the Auto Expo on Wednesday was Mahindra and Mahindra's e-KUV for Rs 8.2 lakhs ex-showroom Delhi. With a single charge range of 150 km and a 55 min fast charging upto 80 pc, it was both a head-turner and a conversation-starter.
It doesn't appear to be happening yet, even though India's stock market has been Asia's best performer this year.
It has lined up formidable product line.
Canada Pension Plan Investment Board has stringent processes and systems, which are proving to be a stumbling block
FMC approves commodity bourse's contract-launch calendar for two years.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Corporate honchos from real estate sector to manufacturing to textile say the Budget does not have enough to help their sectors
The government has shortlisted Cyril Amarchand Mangaldas for giving legal advice on upcoming mega IPO of India's largest insurance company LIC, an official said. Four law firms - Crawford Bayley, Cyril Amarchand Mangaldas, Link Legal and Shardul Amarchand Mangaldas & Co - had made presentations before the Department of Investment and Public Asset Management (DIPAM) on September 24. Following presentations, Cyril Amarchand Mangaldas has been selected as legal advisor for the initial public offering (IPO) of Life Insurance Corporation (LIC), the official told PTI.
Tejas Networks, a telecom and network firm, on Thursday said an arm of Tata Sons will acquire controlling stake in it for nearly Rs 1,890 crore in a multi-step deal. The company has executed definitive agreements with Panatone Finvest, a subsidiary of Tata Sons (Tata group holding firm), it said in a statement. As part of the agreement, the company will make a preferential allotment of 1.94 crore equity shares at a price per equity share of Rs 258 per share aggregating to Rs 500 crore to Panatone.
We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth, explains Tamal Bandyopadhyay.
The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
The car is built in a manner that stands tall and rugged on the city streets, without ever being uncomfortable, says Pavan Lall.
M&M was the top gainer in the Sensex pack, surging 3.37 per cent, followed by Sun Pharma 2.53 per cent, Asian Paints 1.88 per cent, ITC 1.66 per cent, HDFC Bank 1.58 per cent and Tech Mahindra 1.51 per cent.
Cumulative sales of India's top passenger vehicle makers -- Maruti Suzuki, Mahindra and Mahindra, Tata Motors, Honda Cars, and Toyota Kirloskar -- increased to 206,418 units in February over 200,322 units in the same month last year, an increase of 3 per cent.
'They are geopolitical, commercial, educational, cultural and about innovation.' 'Also, they are about a common value system.'
The broadening of the market rally sends the signal that growth will be broad-based, observes Akash Prakash.
Increase in kharif sowing area, good monsoon, rural cash flows and base effect among factors that have driven volumes.
'This is a wonderful opportunity, but there is also a lot of work ahead of us and I am eager to get onto the training ground to start working with the players.'
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
The industry players couldn't hide their disappointment.
Isn't it time to review the 'fit and proper' criteria for banking licence, particularly with reference to individuals applying for it, asks Tamal Bandyopadhyay?
From helping their employees infected with the Covid-19 virus to vaccinating them or supporting the families of those who might have succumbed to the infection, several companies in India are trying to do their bit in this difficult time. Some have even widened their support net to include all stakeholders as well as an extended community. To the families of the employees it lost to Covid-19, Noida-headquartered IT services and consulting company HCL Technologies is, for instance, paying salary for a year, medical insurance for three years and extending support for their children's education for five years.
The Tata group's tryst with mobile services, with either CDMA or GSM technology, did not really fly, forcing it to close operations and write off losses. Now the group is back in the big game, this time straddling the telecom equipment, network and technology space in India as well as the global market. To this end, it is leveraging the opportunities that flow from 5G technology through open radio access network, or O-RAN. Recently, the Tata Sons' subsidiary Panatone Finvest acquired 43.3 per cent in Bengaluru-based telecom equipment manufacturer Tejas Network for Rs 1,850 crore and announced it would buy another 26 per cent of the voting capital through an open offer.
The role of a gangster lodged in Delhi's Tihar jail is being probed in connection with the message on Telegram channel, through which an outfit named Jaish-ul-Hind had claimed responsibility for placing an explosives-laden SUV near industrialist Mukesh Ambani's house in Mumbai, a police official said.
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