Shreyas Shipping announces completion of transaction for business transfer to Unifeeder; Stock gains

The total consideration for the transaction is INR equivalent to over USD 31 million, the company said.

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BSE StAR MF records a new milestone, processes 1.29 crore transactions in June

The former highest monthly transactions was 1.14 cr, achieved in May 2021.

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Aarti Industries raises Rs1200cr through QIP issue; Stock under pressure

The current market cap of the company is Rs30,370.81cr.

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Fiscal deficit at Rs1.23 lakh cr for FY22 in April-May

The fiscal deficit in April-May stood at Rs1.23 lakh crore, the data showed.

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Cigniti Technologies expands its global footprint in Singapore; Stock climbs 1%

Cigniti further extends its global footprint in the Asia Pacific region to meet the growing digital transformation.

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Ratan Tata makes AGM cameo, lauds Tata Steel management

Ratan Tata stopped being a regular fixture at the annual shareholder meetings of listed Tata companies after he retired as their non-executive chairman in 2012. But on Wednesday, he joined Tata Steel’s 114th annual general meeting (AGM), surprising the company’s shareholders.

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Finance ministry curbs spending by depts to help fight Covid

The finance ministry on Wednesday imposed spending checks on several departments, ranging from education and home to telecom and power, as part of a cash management exercise due to the “evolving” Covid-19 situation and the Centre’s cash management requirements.

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Twitter services 'down' as several users face outage

Twitter services were affected on Thursday with multiple users reporting issues while posting, searching and sharing content via the micro-blogging site. "Something went wrong. Try reloading," a search on the social networking site showed.

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Cabinet clears Covid relief stimulus package

The Union Cabinet on Wednesday approved the Covid-relief stimulus package announced by finance minister Nirmala Sitharaman two days ago, information and broadcasting minister Prakash Javadekar said.

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Companies told to pay GST on license fee for government schemes

Companies have to take licenses to avail the benefits to government schemes such as advance authorisation and export promotion for capital goods (EPCG), among others.

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India's eight core industries May production rises 16.8% yoy

The Eight Core Industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty indicates muted opening for Indian markets

Asian markets opened in the red as markets consolidate the recent gains and US$ strength sees some ETF outflows in Asian markets.

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Top stocks in focus: Dish TV India, Jain Irrigation Systems, Best Agrolife, Agro Tech Foods, Indian Oil

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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Healthcare infrastructure to benefit from new loan guarantee scheme and incremental allocation towards short-term Covid-19 preparedness: ICRA

With significant infrastructural gaps persisting, renewed focus and government support for expanding and setting up new capacities is expected to improve healthcare access in the hitherto underserved semi-urban and rural areas of the country.

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SBI to levy charges for cash withdrawal beyond 4 free transactions per month; ET Now on what’s changing from July 1

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Vodafone Idea Q4 loss narrows to Rs 7,023 crore

Debt-ridden telecom operator Vodafone Idea on Wednesday reported narrowing of its consolidated loss to Rs 7,022.8 crore for the quarter ended March 2021, mainly on account of cost optimisation.

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CBDT: TDS applicable on buyer-seller transactions above Rs 50 lakh after July 1, 2021

The Board has clarified that threshold of Rs 50 lakh for triggering TDS shall be computed from April 1, 2021 and GST component will have to be segregated at the time of credit.

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CBIC waives penalty on B2C QR code implementation till September 30

Government had waived the penalty for non-compliance back in November 2020, for the period between December 1, 2020 and March 31, 2021, while settling compliance date to April 1, 2021. It then further extended the period till June 30, setting compliance date at July 1, 2021.

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Non-food bank credit grows at 5.9% in May: RBI data

Credit to agriculture and allied activities continued to perform well, registering an accelerated growth of 10.3 per cent in May 2021, as compared to 5.2 per cent in May 2020, RBI data released on Wednesday showed.

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India's top refiner buys its first Guyanese oil: Report

Indian Oil Corp, the country's top refiner, has made its first purchase of Guyana's Liza light sweet crude as it seeks to diversify its crude purchases, a source familiar with matter said.

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Govt keeps rates on small savings schemes unchanged for Q2

In a relief to savers, the government on Wednesday kept interest rates on small savings schemes, including NSC and PPF, unchanged for the second quarter of 2021-22 amid the Covid-19 pandemic.

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Amul raises milk prices by Rs 2 from July 1

India's leading dairy Amul has raised milk prices by Rs 2 per litre with effect from July 1. Going by past precedent, other brands are likely to follow the market leader shortly.

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Gujarat Sidhee Cement stock gains 5% after Q4 PAT rises 28% yoy to Rs20.79cr

The companys revenue rose to Rs194.41cr in Q4FY21 from Rs165.48cr in Q4FY20.

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Reliance Industries and ADNOC tie-up for world-scale chemical projects at TAZIZ in Ruwais; Stock jumps 1%

The tie-up capitalizes on the growing demand for these critical industrial raw materials and leverages the strengths of ADNOC and Reliance as global industrial and energy leaders.

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7Seas Entertainment to launch two new games with unique advanced features this year

Company will also focus on Esports and Gamified Learning in this gaming ecosystem.

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ICRA reaffirms credit ratings of Astec LifeSciences; Stock trades flat

The credit rating agency has reaffirmed the long-term rating of ICRA AA- and short-term rating of ICRA A1+ on bank loans and commercial paper programme.

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Bulk Deals: From Godrej Properties, Godrej Agrovet to HDFC Life

As per the bulk deal data on the BSE showed that the promoter Godrej Industries acquired 31,26,102 equity shares in Godrej Agrovet by 1.6% of total paid-up equity at Rs621.51 per share.

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Murudeshwar Ceramics acquires shares in RNS Power; Stock sheds 2%

The main object for purchase of shares of RNS Power Limited to become a Captive Buyer of power under the Electricity Act, 2003.

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Markets trade higher as metal, IT, auto stocks drive; Sensex over 52,760, Nifty 50 near 15,800; Maruti emerges top bull

On the sectoral basis, Nifty Metal climbed by 0.8%, while Nifty Auto and Nifty IT surged by 0.6% and 0.5% respectively.

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Vindhya Telelinks hits record high on strong Q4 earnings

The companys profit jumped three-fold to Rs116.04cr in Q4FY21. On a yearly basis, profit rose to Rs270.08cr in FY21 compared to Rs237.40cr in FY20.

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Brickwork revises outlook on Karma Energy credit facilities, reaffirms ratings

Brickwork Ratings has reaffirmed the long term rating at BWR BBB- with a revision in outlook from "Stable" to "Negative" for the Bank Loan Facilities.

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GTPL Hathway jumps over 3% after agreement with GTPL Vision to increase stake by 43.12%

Presently, the companys shareholding in GTPL Vision is 51.00%. The transactions are expected to be completed within 6 months.

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DPIIT against any Chinese linked companies in public projects

Opposes The DPIIT, in a June 28 communication to the DoE, said it has received representations from stakeholders alleging that the June 8 clarification is against the basic purpose and intent of the earlier order issued last year in July.

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Govt. allocates 198.78 LMT food grains under PMGKAY-IV for July-November 2021

Under the scheme, free food grains for a period of two months (May-June 2021) @ 5 kg per person per month is being distributed to beneficiaries covered under NFSA.

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Indian Railways on way to deliver 58 super critical and 68 critical projects worth more than Rs115000cr

Commissioning of second line track on Naranarayan Setu on Brahmaputra river of New Bongaigaon-Guwahati section, which will provide great relief on this section.

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FM Sitharaman holds 6th review meeting on CAPEX and infrastructure roadmap

The Finance Minister also added that the Ministries also need to explore Public Private Partnership (PPP) mode for viable projects.

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When Davids strike Goliath-sized deals

Traditionally, merger and acquisition (M&A) stories are about the big fish gobbling up the small ones. But, a reversal seems to be playing out in the M&A space as startups, who are yet to hit their ‘teens’, are snapping up established giants.

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty indicates positive opening for Indian markets

For today expect more consolidation with FMCG and pharma stocks seeing defensive buying, while heavyweights take a breather.

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Important results today: Vodafone Idea, Dish TV, IRCON, Sadbhav Engineering

GM Polyplast, Indowind Energy, IVRCL, Liberty Shoes, McNally Bharat Engineering, Sanwaria Consumer, Sequent Scientific are set to release their quarterly earnings today.

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Top stocks in focus: Reliance, Tata Coffee, HUDCO, Uflex, Vindhya Telelinks, IRFC

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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New IT rules make sense, curb abuse, says Facebook India chief

American internet giant Facebook has thrown its weight behind India’s new IT Rules, and has said that they “make sense” while empowering users and limiting their abuse on social media, India MD Ajit Mohan has told TOI.

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Sebi tightens norms on independent directors

In an attempt to give more power to non-promoting shareholders in a company, markets regulator Sebi on Tuesday said that two-thirds of the members of the nomination & remuneration committee (NRC) and the audit committee (AC) of the board of a listed company should be independent directors.

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Government extends Amitabh Kant’s tenure, upgrades USOF post

“The Appointments Committee of the Cabinet has approved extension in tenure of Shri Amitabh Kant, CEO Niti Aayog for a further period of one year beyond June 30, 2021 i.e upto June 30, 2022 or until further orders,” the Department of Personnel and Training in a notification said.

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After Cairn, Devas sues Air India to recover $1.5 billion award

Shareholders in Devas Multimedia have sued Air India in an effort to recover sums Devas won in arbitration awards against the Indian government and seize its flagship carrier's foreign assets, according to a US district court filing.

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Market pulse at 10:30 AM today

Here is the stock market performance at 10:30 AM today.

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IntraSoft Technologies gains 2% after strong cash flow in Q4

The companys revenue for the quarter (Q4) stood at $14.44 million, as against $16.83 million in the comparable quarter last year.

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India achieves another milestone in COVID19 vaccination; overtakes US as 32.3 crore receive Covid shots

As more people are getting recovered from COVID-19 infection, Indias Daily Recoveries continue to outnumber the Daily New Cases for 46 consecutive days now. 58,578 recoveries were registered in the last 24 hours.

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Markets trade lower amid weak cues; Sensex below 52,600, Nifty 50 struggles near 15,765; Bank nosedives; Britania, ICICI Bank top bears

Banking and financial stocks weighed down the most on the benchmarks.

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V2 Retail slips ~3% after reporting loss of Rs8.6cr in Q4FY21

For the quarter, revenue from operations stood at Rs189.3cr, registering a growth of 47% yoy.

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Shalimar Paints gains 1% despite lackluster Q4 financial earnings

EBITDA stood at Rs3.6cr for FY21 as against loss of Rs33.5cr in FY20.

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Sadbhav Infra reports net loss of Rs59.26cr in Q4FY21; Stock trades flat

The company's revenue from operations stood at Rs405.59cr in Q4FY21 compared to Rs377.29cr in Q4FY20.

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FM announces relief package of Rs6.28 lakh crore to support Indian economy in fight against COVID-19 pandemic

Eight out of 17 schemes aim at providing economic relief to people and businesses affected by the COVID-19 pandemic. The special focus is on health and reviving travel, tourism sectors.

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Trident announces redemption of Rs50cr commercial paper

Trident Limited, the flagship company of the group has its customer base in more than 75 countries across 6 continents.

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Sharika Enterprises receives six LOIs from Indian Oil Corporation; Stock gains 2%

The plants are to be set-up in the states of Uttar Pradesh, Haryana & Punjab.

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Future workplace will be work from home-office hybrid

The pickup in the Covid vaccination drive has encouraged several organisations to raise queries with consultants on whether the process of returning to office can begin. However, what's increasingly becoming clear - and large companies are setting an example - is that a 'hybrid' workplace is going to be the way forward.

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Facebook wins antitrust dismissal, surges to $1 trillion value

A US judge on Monday dismissed the blockbuster antitrust action against Facebook filed last year by federal and state regulators, helping lift the value of the social media giant above $1 trillion for the first time. The US District Court of Washington, DC dismissed the cases which could have rolled back FB's acquisition of Instagram and the messaging platform WhatsApp.

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Google services down for some users: Report

Multiple users complained about an outage affecting Alphabet Inc's search engine Google as well as its streaming and email services, according to outage monitoring website Downdetector.

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Covid relief: No big fiscal dent seen

The government's relief measures unveiled on Monday are unlikely to leave a large fiscal dent, although a higher subsidy bill for food and fertiliser, announced earlier, is expected to result in some slippage. While the government pegged the impact of the series of steps at a little under Rs 6.3 lakh crore, it refrained from giving any estimate of the cost of the string of measures.

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Religare gave crores in loans to fraudulent entities: EOW

The Economic Offences Wing (EOW) of the Delhi Police probing alleged financial irregularities at Religare Enterprises has claimed that thousands of crores in loans were extended to “fraudulent” entities based on “one-page” memorandums of understanding.

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Results today: IRCTC, Ruchi Soya, Suzlon Energy

Sintex Industries, Suzlon Energy, Acme Resources, Cochin Minerals & Rutile, DCM are set to release their quarterly earnings today.

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty indicates flat to positive opening for Indian markets

For today expect another day of consolidation as Nifty consolidates before attempting to hit and cross 16,000.

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Nitin Gadkari launches Indian Bank's 'MSME Prerana' in Maharashtra

The program will begin from Nagpur followed by other important cities in Maharashtra.

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Top stocks in focus: NALCO, Rites, Godrej Consumer, Ramco Systems, HDFC Life

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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Fiscal impact of fresh stimulus package under 1% of GDP: Experts

According to the finance ministry, the total value of the latest package came up to Rs 6.29 lakh crore, representing about 3% of GDP.

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Haryana govt extends date of crop loan repayment

The move will benefit about 3.5 lakh farmers of the state, who are likely to get interest relief of about Rs 35 crore, according to an official statement.

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Switzerland opens doors for fully vaccinated Indian travellers

Switzerland has become the first country to open its doors for fully vaccinated visitors from post second Covid wave India. What’s more, there is no need to quarantine on arrival for the desi travellers who have got both jabs of Covishield.

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Tata Consumer Products hit new 52-week high as Eight OClock Coffee sets to enter India

The launch is expected to be next week.

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Dodla Dairy lists at a premium of Rs550 on NSE

The scrip got listed at Rs550 with a 28.50% premium over its issue price of Rs428 on NSE.

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HDFC Life Chairman: Time is right for the regulator to allow life insurers in India to evolve further

HDFC Life became the third company after HDFC Bank and HDFC Ltd. from the HDFC Group to be featured in one of Indias benchmark indices.

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Krishna Institute of Medical Sciences makes stellar market debut, shares list 22% above IPO price

Also, it got listed at Rs1008.90 on BSE, a 22.29% premium over its issue price of Rs825.

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High court refuses to stay new IT rules regulating digital news media

The Delhi high court Monday refused to stay the new Information Technology rules which seek to regulate digital news media, saying it was not in agreement with the petitioners on passing such an order at this stage.

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Ferragamo picks Burberry's Marco Gobbetti as its new chief

Italian luxury group Salvatore Ferragamo said on Monday it had chosen Marco Gobbetti, the outgoing CEO of British group Burberry, as its new chief executive.

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Urban Indians think Covid situation is improving, but worry about personal finances

Confidence in national recovery has improved since April end when it had fallen to 17 per cent, amidst a deadly second wave of the pandemic. With subsequent lockdown restrictions and vaccination in full swing, this number has improved and now a majority are positive about recovery.

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Uber CEO delivers food orders in US, gets $100 in a day

Uber CEO Dara Khosrowshahi delivered food to customers ordering through the Uber Eats app in San Francisco. "Spent a few hours delivering for UberEats. 1. SF is an absolutely beautiful town. 2. Restaurant workers were incredibly nice, every time. 3. It was busy!! 4. I'm hungry - time to order..." Khosrowshahi tweeted on Sunday.

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Dodla Dairy shares list at over 28% premium on D-Street

Shares of Dodla Dairy on Monday jumped over 28 per cent in its debut trade against the issue price of Rs 428. The stock listed at Rs 528, reflecting a premium of 23.36 per cent against the issue price on BSE. As trade progressed, it jumped 48 per cent to Rs 633.60.

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Indian economy takes a breather in May before gaining momentum

With the second Covid-19 wave now receding, the economy is already beginning to stir back to life. A basket of high-frequency, alternative and market indicators such as retail activity and road congestion pointed to a pick up in the week to June 13, Abhishek Gupta, India economist at Bloomberg Economics, said in a report.

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Even gold-obsessed Indians are now pouring billions into crypto

The cryptocurrency aficionados’ mantra that Bitcoin is equivalent to digital gold is winning converts among the world’s biggest holders of the precious metal.

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Accenture attrition rises to 17% as demand for services grows

Accenture’s attrition jumped to 17% in its third quarter (March-May), compared to 11% in the year ago quarter, as demand for new age skills rise with companies engaged in massive digital transformations.

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Wipro arm buys aerospace mfg facility in US for $31m

Wipro Givon USA, an arm of Wipro Infrastructure Engineering, is buying the Washington manufacturing facility of Boeing supplier TECT Aerospace Group Holdings for $31 million.

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After Africa and China, Bangladesh looks to buy non-basmati rice

India saw a surge in farm exports in FY21, a pandemic year. The surge was driven by record-high sales of rice-13.9 million tonnes of non-basmati and 4.6 million tonnes of basmati - and sales of 2.08 mt of wheat, a six-year high.

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PharmEasy to acquire 66.1% stake in Thyrocare for Rs4,546cr from Dr A. Velumani and affliates

The collaboration between PharmEasy and Thyrocare is unique and transformative for the Indian healthcare sector, consumers and the entire healthcare ecosystem.

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Haryana government pays IL&FS Rs 1,925 crore metro project dues

IL&FS has recovered Rs 1,925 crore from Haryana Shehari Vikas Pradhikaran (HSVP), the state’s urban planning agency, as interim termination payment in the Gurgaon Metro Project case. This payment follows the Supreme Court’s March 26, 2021 order that ruled in favour of IL&FS in the metro case.

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Has bankruptcy law failed homebuyers?

Four years ago, Kanupriya was among the 20,000 homebuyers in Jaypee Infratech’s project in Noida who was hoping that an early resolution will help her take possession of the apartment she had booked in 2012. She is still waiting as the resolution process – monitored directly by the Supreme Court – seems to have entered the final leg.

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Distressed hotels pin hopes on travel revival

Mid-market hospitality player Lords Hotels & Resorts was bullish on its new management contract property in South Goa that had opened in October 2019. Just as the 110-room property was beginning to get a foothold on Varca Beach, the pandemic struck.

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty indicates flat to positive opening for Indian markets

Asian markets opened on a muted note with the Japanese 'Nikkei' trading flat as markets consolidate near the end of the month with no news flow to drive markets in the near term.

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CCI approves acquisition of Zuarinagar plant of Zuari Agro by Paradeep Phosphates

As per Ministry of Corporate Affairs, the proposed combination envisages the acquisition of Zuarinagar, Goa plant of Zuari Agro Chemicals Limited (ZACL) by Paradeep Phosphates Limited (PPL).

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Top stocks in focus: Lupin, Tech Mahindra, Thyrocare Technologies, Brigade Enterprises, Zuari Agro Chemicals

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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Stakeholder talks begin on India-UK trade pact

The development comes a month after London announced its 14-week consultation with its industry until August 31 ahead of the formal trade negotiations. The ETP is a precursor to a full-fledged free trade agreement with the UK.

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Many e-commerce firms have blatantly flouted laws of land: Piyush Goyal

All ecommerce companies should follow the law of the land and do not use muscle or money power to hurt Indian interests as many of these large online firms have come into India and "very" blatantly flouted the laws of the land, in more ways than one, Commerce and Industry Minister Piyush Goyal said on Saturday. He said that many of the practices which these companies follow are against the interest of consumers.

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Rs 4,698.10 cr paid for death claims under PMJJBY last fiscal

As many as 2,50,351 death claims were filed under the PMJJBY, and of them, 13,100 were dismissed in 2020-21. The remaining 2,346 claims were being examined.

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Financial watchdog bans crypto exchange Binance in UK

Britain's Financial Conduct Authority (FCA) ordered cryptocurrency exchange Binance to stop undertaking any regulated activity in the country, saying the firm lacked authorization. The exchange would not be allowed to undertake any regulated activities without the prior written consent of the FCA, the watchdog said in a statement dated Saturday.

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Twitter grievance officer for India quits just weeks after appointment

Twitter's interim resident grievance officer for India Dharmendra Chatur has stepped down, leaving the micro-blogging site without a grievance official as mandated by the new IT rules to address complaints from Indian subscribers, according to a source. The social media company's website no longer displays his name.

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NTPC eyes 60 GW renewable capacity by 2032

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30 FPOs see over 2-fold jump in revenue in 2 years after SFAC intervention

"A gamut of interventions were undertaken by way of input, credit, common facilities and market linkages, in addition to capacity-building and training of the Board of Directors (BoDs) on business planning. Notably, almost all of the FPOs were credit-linked for either working capital or term loan," said SFAC Managing Director Neelkamal Darbari in a statement.

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Covid effect: A four-point plan likely for bankruptcy professionals

Two people familiar with the matter told ET that the Indian Institute of Insolvency Professionals of ICAI (IIIPI) is making the recommendations, including a standard on ethics, which will need the nod of both the Insolvency and Bankruptcy Code of India (IBBI) and the government.

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IBBI 'inadvertently' puts out Aadhaar, PAN info of creditors on website; removes them later

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IBBI 'inadvertently' puts out Aadhaar, PAN info of creditors on website; removes them later

A senior official said the details came into the public domain "inadvertently" as the regulator is working on a beta project to host the information of creditors of companies undergoing Corporate Insolvency Resolution Process (CIRP) and liquidation.

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