CreditAccess Grameen board committee approves allotment of Market Linked NCDs worth Rs100cr; Stock gains

The companys board approved the allotment of 1000 NCDs of the face value of Rs10 lakh each, on a Private Placement basis.

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Chemplast Sanmar appoints N Muralidharan as Chief Financial Officer and KMP

He played a key role in the recently successful concluded initial public offering of Chemplast Sanmar.

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Apollo Micro Systems bags supply order worth Rs5.30cr; Stock up 1%

The company had bagged an order for supplying security & surveillance systems worth Rs59.62cr, last week.

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AU Small Finance Bank surges over 4% after clarification on media speculations

The Bank has a full-fledged Internal Audit team with ~50 members and 7 external concurrent audit firms.

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Likhitha Infra soars over 6% on receipt of order worth Rs145.86cr from Indradhanush Gas Grid

The value of the total outstanding order book as of date i.e., August 31, 2021, is ~ Rs1020cr (excl. GST), the company said.

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Escorts transfers leasehold rights of manufacturing plant at Pant Nagar

The company is going to release its August monthly sales data today.

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Jal Shakti Ministry considers 14 innovation proposals for water supply in states

The Committee has representatives from Scientific Departments of Government of India, IITs, State Governments, NITI Aayog, NGOs and UNICEF.

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Economy may grow at double-digit rates: CEA Subramanian

Chief economic adviser Krishnamurthy Subramanian on Tuesday indicated that the Indian economy may grow at double-digit rates, while maintaining that a withdrawal of stimulus in several countries may not have a significant impact, given that India’s macro-economic fundamentals were strong.

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South Korea passes bill to curb Google, Apple dominance

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Expected 5-7% duty remission rates for handicrafts under RoDTEP: Exporter body

The scheme was notified for 8,555 products including employment-generating marine, agriculture, leather, and gems and jewellery sectors in August and aims to refund exporters duties and taxes such as VAT on fuel used in transportation, Mandi tax and duty on electricity used during manufacturing.

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Punjab National Bank launches festive offer, waives loan processing charges

PNB now offers an attractive interest rate starting from 6.80% on home loans and 7.15% on car loans.

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Ami Organics raises Rs170.89cr from 20 anchor investors at the upper price band of Rs610 per equity share

Bid can be made for a minimum of 24 Equity Shares and in multiples of 24 Equity Shares thereafter.

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China rolls out new data law over 'national security' fears

China's new data security law takes effect from Wednesday -- the latest effort to tighten oversight of the country's mammoth tech sector. The law lays down the responsibilities of all companies and organisations handling data. It stipulates fines of up to 10 million yuan ($1.55 million) for a range of offences including leaks and failing to verify the identity of buyers or sellers of information.

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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 muted after a superb last week as most Asian indices hit 2-month highs.

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Vijaya Diagnostic Centre raises Rs566.12cr from anchor investors ahead of the IPO

The price band for the public issue has been fixed at Rs522-531.

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Top stocks in focus: Likhitha Infra, Mastek, Shoppers Stop, JB Chemicals and Pharma, Wipro

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

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Talking to stakeholders to support recovery: Finance minister

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RBI to deepen retail market, hints at tapering liquidity

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Bull run: Another day of sensex, Nifty highs

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NCLT orders freezing of all assets of Videocon’s Venugopal Dhoot

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GDP growth in Q1 records 20.1% recovery on low base

Data released by the National Statistical Office (NSO) on Tuesday showed GDP growth rose 20.1% in the three months to June, the first quarter of the 2021-22 fiscal year, compared with a record contraction of 24.4% in the year-ago period. It was also higher than 1.6% growth recorded in January-March 2021.

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India’s economy, slammed by COVID-19, needs its lost growth

The coronavirus, which has struck in two waves, has killed hundreds of thousands of people and at times has brought cities to a halt. Infections and deaths have eased, and the country is returning to work. Economists predict that growth could surge in the second half of the year on paper.

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Route Mobile subsidiary promotes Shefali Sharma as Chief Executive Officer; Stock gains over 2%

Call 2 Connect India, also appoints Ramachandran Sivathanu as the Chief Operating Officer of the Company.

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Markets hit fresh lifetime highs ahead of GDP data; Sensex nears 57,125, Nifty 50 just of 17k; IT outperforms; Bharti Airtel, HCL Tech lead

In the opening bell, Sensex and Nifty 50 hit a new 52-week high of 57,124.78 and 16,995.55 respectively.

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Praxis Home Retail board to consider rights issue terms on Sept 2; Stock jumps 5%

Praxis Home Retail operates an online portal and retails store for the sale of home furnishing products.

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Digispice Tech board decides to execute shareholders agreement to form a JV with Tarya Fintech; Stock trades flat

The Joint Venture is aimed at 'Lending Technology platform' and other Technology Services businesses.

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Binny to buy assets from Mohan Breweries worth Rs554cr against advances given for land purchase; Stock tumbles 5%

The current market cap of the company is Rs687.23cr.

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Sensex jumps over 200 points to cross 57,000 mark in early trade

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Binny to acquire assets from Mohan Breweries worth Rs554cr against advances given for land purchase; Stock tumbles 5%

The current market cap of the company is Rs687.23cr.

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HCL Tech hits fresh 52-week high on investment plans of $1.25 mn in US-based new entity Austin

The company will purchase 12.5 lakhs shares of Series A Preferred Shares through a subsidiary through HCL Bermuda, equaling an estimated 13.9% fully diluted ownership.

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Ind Ra affirms VA Tech Wabag's long-term issuer rating at 'IND A+/Stable'

Ind-Ra has taken a consolidated view of VATW and its subsidiaries and joint ventures.

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India's GDP is seen to clock double-digit growth in Q1FY22

For Q1FY22, the central bank expects 21.4% growth. However, after Q1, RBI expects GDP forecasts to stand at 7.3% in Q2; 6.3% in Q3; and 6.1% in Q4 of 2021-22.

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Vedanta board to consider first interim dividend tomorrow; Stock gains

Vedanta is a subsidiary of Vedanta Resources Limited.

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S&P 500, Nasdaq end at record highs

The S&P 500 index gained 0.43% to set a new record high 4,528.79, while the Nasdaq Composite traded up 0.90% for its own all-time high 15,265.89.

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Sensex, Nifty hit records on dovish US Fed comments

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Former Reliance Capital CEO Ghosh seeks SFB licence

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Resilient demand keeps driving India’s world-beating growth

The big pop, however, will likely obscure a slowing from the previous quarter, caused by activity curbs to stem the second wave of the virus. While the government doesn’t report an official quarter-on-quarter figure, Bloomberg Economics estimates the economy slumped sequentially, contracting 12% from the January-March period.

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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

For today expect some more consolidation even as 17,000 gets taken out in trade today.

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Airtel chief Sunil Mittal complains about govt levies, to hike tariffs

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Ola joins IPO rush, may raise up to $2 billion

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Q1 GDP growth seen at new high on recovery

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Chinese investment flows via hybrid route under lens

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IBBI proposes code of conduct for transparent working of committee of creditors

The discussion paper related to CIRP, released on Friday, is focused on three issues — code of conduct for committee of creditors (CoC), restrictions on request for resolution plans and use of ‘Swiss challenge’ method, and treatment of live bank guarantees and line of credit as claims.

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Top stocks in focus: Larsen & Toubro, Axis Bank, Shriram EPC, Acrysil, Ipca Labs

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

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Bulk Deals: From Bal Pharma to Gayatri Projects

Whereas in another transaction of bulk deals, Munish Financial bought 14 lakh equity shares in Gayatri Projects at Rs47.88 per share on the NSE.

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Edelweiss Financial Services gains ~2% after CRISIL reaffirms credit ratings on its bonds and commercial paper programme

The credit rating has assigned CRISIL PPMLD AA-r/Negative rating on the companys Rs300cr long-term principal-protected market-linked debentures.

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Tesla’s proposal for lower import duty finds traction

Tesla’s proposal for a reduction in import duty to enter India has been backed by several government agencies, including the road transport ministry, department for promotion of industry and internal trade and NITI Aayog, with a final call now to be taken by the finance ministry.

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Sensex, Nifty scale fresh highs in opening trade

Equity indices jumped to fresh lifetime highs in opening trade on Monday with the benchmark BSE sensex rising over 400 points, led by gains in metal and auto stocks.

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I-T refunds top Rs 51,000 crore, but lower than last year

The income tax (I-T) department on Sunday said that it has issued refunds of Rs 51,531 crore to nearly 23 lakh taxpayers between April and August 23, pointing to a sharp decline so far in the year.

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Glitchy tax portal: Govt extends dozen deadlines

The announcement came on Sunday, nearly a week after finance minister Nirmala Sitharaman and her team of officials from the tax department met Infosys CEO Salil Parekh and set a September15 deadline to remove the glitches that have plagued the new platform since its launch in early June.

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Dell: Customers want solutions, not devices

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Insolvency board seeks fairer, quicker process

The Insolvency and Bankruptcy Board of India (IBBI) has proposed major changes in the insolvency process to bring more discipline and transparency and to address issues that have come up in recent cases.

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Carlyle may buy Hexaware for $3 billion

Private equity giant Baring Asia, which owns the software firm Hexaware Technologies, is set to pick the $3-billion offer from the Carlyle Group for the city-based company, according to a person with direct knowledge of the matter.

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Vivo Bio Tech skyrockets 15% after receiving supply contract from Biological E

The value of the contract is estimated to be a in the range of Rs20cr to Rs30cr per year.

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Gokaldas Exports spurts 4% after incorporation of new subsidiary for expansion

The company has planned to set up a cost-efficient manufacturing unit at Acharpura Industrial Area, near Bhopal under a new wholly-owned subsidiary Gokaldasexports Acharpura to manage the business in an efficient manner.

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Voltas reappoints Arun Kumar Adhikari as Independent Director

He is also a Director of Voltbek Home Appliances Private Limited.

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UIDAI: No outages in Aadhaar - PAN/EPFO linking facility

UIDAI while responding to a few media reports on the so-called UIDAI system outages in linking Aadhaar with PAN/EPFO said that such media reports are not accurate.

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Coal India-led Northern Coalfields dispatches highest ever coal of 3.87 lakh tonnes in a single day

NCL is Singrauli based Miniratna company of the Government of India. NCL is Singrauli based Miniratna company of the Government of India.

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Centre launches 7.5-km long Western Extension Metro Line under Phase-2 of Bengaluru Metro Project

The minister said that the operational punctuality of Bengaluru Metro is 99.8% which is one of the best amongst all metro networks in the country.

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NCL, Ministry of Coal to launch Rs3.5cr Skill Development Project

NCL will spend Rs70,000 per trainee under CSR for this residential training program containing course fee, course material, uniform, training kit, accommodation and other overhead charges.

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Multinationals using franchisee model may face higher GST on royalty income

Under the franchisee model, multinationals allow Indian companies to operate certain stores, hotels or entities with their global brand name, against which they charge a percentage of profit or royalty or any other income.

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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 the broader market to see more gains as a stronger rupee sees profit-booking in technology stocks.

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Airlines and NCLT: Jet Airways case throws lessons

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Top stocks in focus: Bharti Airtel, Tinplate Company of India, Dalmia Bharat, GOCL Corporation, Mahindra & Mahindra

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

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Rs100 lakh cr Gati Shakti to be unveiled in Sept

Prime Minister Narendra Modi’s ambitious Rs 100 lakh crore Gati Shakti Master Plan — which will offer multi-modal connectivity to more than 1,200 industrial clusters, including two defence corridors across the country — will be unveiled next month as part of a plan to reduce logistic costs and provide better connectivity. Modi on August 15 had announced that the total size of the Gati Shakti project will be Rs 100 lakh crore for developing holistic infrastructure

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Defying ban, Chinese apps quietly grow in India, again

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Finance Ministry extends last date for availing GST amnesty scheme till November 30

The late fee for non-furnishing of GSTR-3B for July 2017 to April 2021 has been capped at Rs 500 per return for those taxpayers who did not have any tax liability.

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Airtel builds war chest: Announces mega Rs 21,000 crore rights issue

Sunil Mittal-led Bharti Airtel announced a mega Rs 21,000 crore fund raise by announcing a rights issue at a price of Rs 535 per share, the money coming in at a time when the company gears up for the launch of 5G services in India even as it looks to cut down its mammoth debt of Rs 1.6 lakh crore.

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Web version of e-GOPALA app unveiled to aid dairy farmers

It was launched by Parshottam Rupala, Union Minister of Fisheries, Animal Husbandry and Dairying in presence of Meenesh Shah, Chairman, NDDB, it added.

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Govt extends deadline for various tax compliances, Vivad se Vishwas payments

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Proposed FTA with UAE to boost jewellery, chemicals, engineering exports: Exporters

Under a free trade agreement, two trading partners reduce or eliminate customs duties on the maximum number of goods traded between them. Besides, they liberalise norms to enhance trade in services and boost investments.

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Govt extends payment deadline for Vivaad Se Vishwas scheme till September end

"Considering the difficulties being faced in issuing and amending Form no 3, which is a prerequisite for making payment by the declarant under Vivad se Vishwas Act, it has been decided to extend the last date of payment of the amount (without any additional amount) to 30th September, 2021," it said.

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Airtel board approves up to Rs 21,000 crore rights issue

Telecom operator Bharti Airtel's board on Sunday approved up to Rs 21,000 crore rights issue, according to a regulatory filing. The Board, which met to consider the company's capital raising plans, cleared rights issue price of Rs 535 per fully paid-up equity share, including a premium of Rs 530 per equity share.

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Subscribers joining NPS after 65 years of age can take up to 50% equity exposure

The Pension Fund Regulatory and Development Authority (PFRDA) has revised the guidelines on entry and exit following an increase in the maximum age for joining the NPS from 65 year to 70 years of age. The entry age for NPS has been revised to 18-70 years from 18-65 years.

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Ease of doing business still cumbersome at grassroot level: CII CEOs Poll

The survey also said about 46 per cent of the 117 CEOs, who participated in the survey, expected more than 10 per cent revenue growth of their respective company in the first half of the current fiscal as compared to the first half of pre-pandemic year 2019-20.

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Pensioners' body urges govt to exempt pension from income tax; seeks PM intervention

In a letter shot off to the prime minister on August 25 this year, the body argued that if the pensions of the Members of Parliament and Members of Legislative Assemblies are not taxable, then why does the government levy income tax on the pension of retired employees.

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Air India asks US court to dismiss Cairn petition, says it is premature

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India's economy ready for faster growth, says Ashima Goyal

"Despite the Covid-19 severe shock, India's macroeconomy is more healthy and ready for faster growth than it has been for a long time. That recovery from both the first and second waves was faster than expected points towards inherent strengths of the economy," she said.

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FSDC meeting on September 3; to take stock of economy, financial sector

The meeting is to be held soon after first-quarter GDP numbers projected around 20 per cent growth against a contraction of 24.4 per cent recorded in the same quarter of the last financial year.

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Goldman Sachs, J P Morgan Chase among 10 merchant bankers to manage LIC IPO

The government aims to come out with the IPO and subsequent listing of Life Insurance Corporation (LIC) on the bourses in the January-March quarter of 2022.

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PM Modi emphasises on importance of skill development

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What happens to the cryptocurrency you buy if India decides to ban it

While there are speculations on the cryptocurrency, the virtual currency enthusiasts know for sure, that these are only the ups and downs that come in their investment plan.

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Air India asks US court to dismiss Cairn petition

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Jan Dhan accounts hit 43 crore in 7 years, deposits 1.46 lakh crore

The Centre on Saturday said it had communicated to banks about the plan to ensure coverage of Jan Dhan account holders under various micro insurance schemes while PM Narendra Modi said the government’s financial inclusion initiative had transformed the country’s development trajectory and helped deepen transparency. As on August 18, the number of total PMJDY accounts were 43 crore and 55.5% (23.9 crore) Jan Dhan account holders are women and 66.7% (28.7 crore) are in rural and semi-urban areas.

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Reliance deal: Future Retail in SC against HC orders

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RBI could come up with a pilot for digital currencies by December: Shaktikanta Das

However, it's not clear whether the currency will be launched based on the distributed ledger technology or a centralised ledger. Cryptocurrencies work on the distributed ledger technology platform.

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