Vishal Mega Mart files DRPH to raise Rs 8,000 cr via IPO
Mumbai: Gurugram-based Vishal Mega Mart has filed a draft red herring prospectus (DRHP) with SEBI to raise Rs 8,000 crore through an initial public offering (IPO), media reports said.
Finance
'Canada benefits from trade with India; Trudeau govt's baseless allegations cause of crisis': MEA spokesperson
New Delhi: Canada is a major beneficiary of the India-Canada economic ties, Ministry of External Affairs spokesperson Randhir Jaiswal said on Thursday, asserting that the current crisis in the relations have been precipitated by the Justin Trudeau government’s baseless allegations.
Zepto in talks to raise up to $150 million from Motilal Oswal, others in third funding round in four months: Report
Bengaluru/IBNS: Quick commerce startup Zepto is reportedly in discussions to raise $100-150 million from Motilal Oswal, Indian family offices, and high net worth individuals (HNIs), Moneycontrol reported, citing its sources.
Facebook parent Meta confirms layoffs at WhatsApp, Instagram
California/IBNS: After laying off 11,000 employees in 2022 and another 10,000 in 2023, Meta is conducting another round of job cuts, though this time on a much smaller scale, reports the Verge.
Hyundai Motor India IPO subscribed 2x on last day of sale
Mumbai/IBNS: Hyundai Motor India Ltd's (HMIL) initial public offering (IPO) saw double the subscription on its third day of bidding, with bids for 19.96 crore shares compared to the 9.98 crore shares available, according to data from the NSE at 2 pm on Thursday (Oct. 17).
Haldiram Snacks' promoters revise stake sale plans, eye 10-15% offload
New Delhi/IBNS: The promoters of Haldiram Snacks Food Pvt Ltd, one of India’s leading snack manufacturers, have adjusted their strategy regarding the sale of company shares.
Board of Tata Trusts meets to discuss appointment of third representative to Tata Sons
Mumbai/IBNS: The board of Tata Trusts is meeting today (Thursday, Oct. 17) to discuss the appointment of a third representative to the board of Tata Sons, reports Economic Times.
Analysis of International Economic Data to Identify Investment Avenues in India
Due to the interdependence of world economies, events and data releases around the globe play a major role in the movements of markets across the world, including India. By learning how to analyze such worldwide economic data, investors may more effectively indicate Indian market opportunities as well. Using interpretation of key indicators from major economies as a forecast of trends that affect Indian stock, commodity, and currency markets becomes possible.
Shapoorji Pallonji to make Rs 1,800 cr interest payment to bondholders by Oct-end; Afcons IPO next week: Report
Mumbai: The Shapoorji Pallonji (SP) group is expected to make a Rs 1,800 crore interest payment to bondholders by the end of October, following the conclusion of the Gopalpur port stake sale and the launch of Afcons Infrastructure's initial public offering (IPO) next week, Moneycontrol reported.
IT Dept's ITR E-Filing Portal 3.0 to be simple & user-friendly
New Delhi: The Income Tax department is planning to launch an upgraded e-filing platform, ITR E-Filing Portal 3.0, designed to be simpler and more user-friendly for filing returns, media reports said.
India extends full-capacity mandate for imported coal power plants till Dec 31: Report
New Delhi: India has extended the mandate for imported coal-based power plants to operate at full capacity until December 31, anticipating increased power demand, according to a government circular reviewed by Reuters.
Hyundai Motor IPO subscribed 42% on day 2
Mumbai: Hyundai Motor India's initial public offering (IPO) was 42% subscribed on the second day of bidding, October 16.
India expediting FTA negotiations with Australia to resolve key differences: Report
New Delhi: India is aiming to accelerate its free trade agreement (FTA) negotiations with Australia over the next two months in an effort to resolve key differences on sensitive issues and finalize the deal, media reports said.
Bajaj Auto Q2FY25 net profit jumps 9% to Rs 2,005 cr
Mumbai: Bajaj Auto reported a 9% rise in standalone net profit for Q2FY25, reaching Rs 2,005 crore, media reports said.
India's trade deficit narrows sequentially to $20.78 billion in September
New Delhi/IBNS: India’s trade deficit narrowed to a five-month low of $20.8 billion in September, down from $29.7 billion in August, as per data released on Wednesday (Oct. 16).
Union Cabinet hikes MSP for 6 Rabi crops
New Delhi: Ahead of Diwali, the Union Cabinet approved an increase in the minimum support price (MSP) for six Rabi crops for the 2025-26 marketing season, Union Minister Ashwini Vaishnaw announced on October 16 during a press briefing.
Adani Group delays $1.5 billion worth 20-year Green Bond sale as investors bid at higher yields
Ahmedabad/IBNS: The Gautam Adani-led conglomerate Adani Group decided to delay a planned sale of 20-year green dollar bonds on Tuesday (Oct. 15), despite marketing the deal to investors earlier in the day, reports Bloomberg.
'Much appreciated', says Elon Musk after telecom minister Jyotiraditya Scindia confirms no satcomm spectrum auction
New Delhi/IBNS: Starlink CEO Elon Musk recently stated that Starlink "will do our best to serve the people of India."
India's gaming industry set to double by 2028: PwC report
Mumbai: India’s gaming industry, which encompasses both real money gaming (RMG) and casual gaming, is projected to double its revenues over the next four years from its current base of Rs 33,000 crore.
Muthoot FinCorp Ltd announces XVII Tranche II series of NCDs, aims to raise Rs 250 cr
Kolkata: Muthoot FinCorp Ltd has announced XVII Tranche II series of secured, redeemable, non-convertible debentures of face value of Rs 1000 each to raise an amount aggregating to Rs 250 crore which is within the shelf limit of Rs 2000 crore.
Haldia Petrochemicals Ltd. announces new appointments
Kolkata: Haldia Petrochemicals Ltd (HPL) announced key additions to its leadership team with the appointment of Sanjiv Vasudeva as Executive Vice President & Chief Marketing Officer (CMO) and Bani Broto Banerjee as Senior Vice President - Business Development, said an official statement.
India needs more women in workforce to spur growth, say experts
New Delhi: With just a 32 percent female labour force participation rate in South Asia, increasing women’s employment requires a holistic approach and action from all stakeholders, experts said at a discussion on “Policy Options to Raise Female Employment in India”, organised jointly by the National Council of Applied Economic Research and the World Bank here on Tuesday.
HCL Tech's Q2FY25 net profit rises 11% YoY to Rs 4,235 cr
Mumbai: HCLTech's Q2 FY25 net profit rose 11 percent on-year to Rs 4,235 crore, media reports said.
HCL Tech's Q2FY25 net profit rises 11% YoY to Rs 4,325 cr
Mumbai: HCLTech's Q2 FY25 net profit rose 11 percent on-year to Rs 4,235 crore, media reports said.
HDFC Life Q2FY25 profit rises 15% YoY to Rs 433 cr
Mumbai: HDFC Life reported a 15 percent year-on-year increase in net profit for Q2 FY25, reaching Rs 433 crore, surpassing market expectations, media reports said.
Samsung India's Chennai plant workers call off month-long strike
The workers' strike at Samsung India's plant near Chennai has been called off after a resolution was reached, with management announcing several welfare measures on October 15, media reports said.
Reliance Industries Ltd Q1Fy25: Profit rises 9% to Rs 16,563 cr
Mumbai: Reliance Industries Ltd's second-quarter net profit for the fiscal year rose by 9.4 percent compared to the previous quarter, reaching Rs 16,563 crore, surpassing analysts' expectations, driven by strong performance in its telecom and retail divisions.
IndiGo Ventures gets SEBI approval to launch Venture Capital Fund to invest in aviation startups
Gurugram: Budget carrier IndiGo Tuesday announced that its corporate venture capital fund, IndiGo Ventures, has received the Alternative Investment Fund approval from the Securities and Exchange Board of India (SEBI), according to an official statement.
Bhutan's Drukair firms up order for Airbus A321XLR, A320neo aircraft
Paro/IBNS: Drukair - Royal Bhutan Airlines, the national flag carrier of Bhutan, has firmed up an order with Airbus for three A320neo and two A321XLR aircraft to expand its international network.
Hyundai Motor India IPO opens: Issue subscribed 10% till noon on Day 1, retail portion booked 17%
Mumbai/IBNS: Hyundai Motor India’s Rs 27,870-crore initial public offering (IPO) saw a modest response on its first day, with 10 percent of the total offer being subscribed within the first two hours.