27 Charred To Death In Delhi Fire, 12 Critical

May 14, 2022 5:29 pm

A massive fire on the first floor of a building near Mundka metro station on Friday evening, left 27 burnt to death. According to Atul Garg, chief of the Delhi Fire Services (DFS), the fire control room received a call reporting the fire about 4.40 pm. At that point, 70 people were trapped on the […]

Will the Current IPO Improve LIC’s Governance?

May 4, 2022 3:50 pm

With demand building up, the LIC IPO, which opened for subscription today, is likely to be oversubscribed, which means it will be listed at a premium to the issue price. Whether the scrip will stay above the issue price in the medium term will depend on LIC’s results over the next few quarters. Deepak Jasani, […]

Adani Wilmar Acquires Kohinoor Rice Brand From McCormick

May 3, 2022 2:09 pm

Adani Wilmar Ltd (AWL), the country’s largest fast moving consumer products company by revenue, has bought packaged foods brand Kohinoor from American conglomerate McCormick for an unknown fee. Apart from the premium basmati rice brand, the sale also includes its umbrella brands Charminar and Trophy, which are worth around Rs 115 crore in total. With […]

LIC IPO Sees Strong Participation From Anchor Investors; Key Things To Know

May 3, 2022 11:52 am

The anchor investor portion of Life Insurance Corporation of India’s (LIC) initial public offering (IPO) was fully subscribed on May 2, according to a stock exchange disclosure from the company. According to the filing, domestic mutual funds (MFs) accounted for more than 71% of the anchor book portion. In total, the state-owned insurance company issued […]

Adani Group to Foray into Healthcare with $4 Billion Investment

May 2, 2022 6:45 pm

Adani Group, which handles diverse businesses, is now engaging with foreign banks and global private equity investors to chalk out plans in the healthcare business. Adani Group, is an Indian multinational conglomerate company, headquartered in Ahmedabad.  It was founded by Gautam Adani in 1988 as a commodity trading business, with the flagship company Adani Enterprises […]

Gujarat: Triton EV Acquires Manufacturing Facility of AMW Motors

May 2, 2022 5:49 pm

Tesla rival Triton EV is all set to begin production in India as the company announced on Monday the acquisition of the AMW Manufacturing Plant in Bhuj, Gujarat. This 3.7 million square foot manufacturing plant infrastructure will serve as the epicentre of Triton EV’s EV Truck Manufacturing Hub.Triton EV’s acquisition will ensure a quick turnaround […]

Heavy Turbulence Strikes SpiceJet Flight During Descent

May 2, 2022 2:39 pm

Spicejet flight traveling from Mumbai to Durgapur on 1st May 2022 experienced severe turbulence that injured 17 passengers. The airline spokesperson said that passengers received minor injuries because the overhead cabin luggage started dropping on them as the turbulence occurred. Spicejet airline authorities verified the event as the flight landed.  SpiceJet Boeing B737 aircraft operating […]

India: ED Seizes Rs 5551 Crore From Telecom Firm Xiaomi

April 30, 2022 4:51 pm

The Enforcement Directorate (ED) seized Rs 5551.27 crore from telecom firm Xiaomi India’s bank accounts on Saturday under the provisions of the Foreign Exchange Management Act, 1999, in connection with the company’s illegal outward remittances, the probe agency said in a press release. The ED launched an investigation in February this year into alleged illegal […]

Economy Will Take 15 years To Recover From Pandemic Effect : RBI Report

April 30, 2022 11:43 am

While India’s real GDP in FY22 is estimated to be close to Rs 150 lakh crore, Reserve Bank of India’s (RBI) report on currency and finance for FY22 has estimated that the time to recover from the hit taken by the Indian economy due to covid pandemic would be around 15 years. The report has […]

Adani, Ambani Gear up For Battle Royale Against Amazon, Netflix

April 29, 2022 10:46 am

Gautam Adani and Mukesh Ambani, Asia’s two wealthiest men, are doubling down on India’s media business, escalating competition in a market where Netflix Inc. and Amazon.com Inc. are eyeing over a billion users as battle for digital hots up. In a capital round led by James Murdoch-backed Bodhi Tree Systems, Ambani’s local joint venture with […]

Adani Group Launches AMG Media Networks

April 28, 2022 9:41 am

Adani Enterprises Ltd has joined the media sector with the formation of AMG Media Networks Ltd, a wholly owned subsidiary. The new company would “carry on the business of media-related activities, including as publishing, advertising, broadcasting, and distributing information across various forms of media networks,” according to the press release. AMG Media Networks has three […]

IPL: Media Rights Race Hots Up As Reliance, Lupa Systems Form JV

April 28, 2022 9:43 am

Reliance Industries (RIL) and Lupa Systems, led by media veterans Uday Shankar and James Murdoch, have launched a new alliance for investment in sports and entertainment programming, four months after the two began investigating opportunities. Bodhi Tree Systems, a platform supported by Lupa Systems and Shankar, announced on Wednesday that it would invest Rs 13,500 […]

Air India Proposes To Buy AirAsia India

April 27, 2022 7:51 pm

Air India, which is owned by Tata group, aims to buy low-cost carrier AirAsia India and has applied to the Competition Commission for clearance. Tata Sons Private Ltd owns 83.67 percent of AirAsia India, while AirAsia Investment Ltd (AAIL), a subsidiary of Malaysia’s AirAsia Group, owns the rest. Last year, Talace Private Limited, a wholly-owned […]

Shares Of Adani Power Soar 90% In a Month; Market Capitalisation Passes Rs 1 Trillion

April 26, 2022 9:18 am

Adani Power became the sixth Adani Group company to reach a market capitalisation of Rs 1 trillion on Monday. The increase in market capitalization came after the stock reached a 5-percentage-point high on Monday. The large cap stock has risen 5% to Rs 272.15, from a previous close of Rs 259.20 on the BSE.  The […]

RBI Issues New Directives On Credit, Debit Cards

April 23, 2022 12:16 pm

The Reserve Bank of India has issued a new set of guidelines for credit and debit cards. These include a set of standard operating procedures (SOPs), as well as consumer protection measures as credit card usage explodes in India. It is hoped that the new rules will protect consumers from frauds and hidden charges, among […]

Adani Group Among Others In The Talks With Holcim As Potential Buyer Of Their Stake In Ambuja And ACC Cement

April 14, 2022 12:35 pm

After 17 years of its entry into India, the world’s largest cement and building materials manufacturer Holcim group is mulling over the idea of pulling out of the country. The Holcim Group is putting its stake in Ambuja Cement and ACC Ltd up for sale. The firm is learnt to be in talks with the […]

Restaurant Owners Reel Under Rising Prices

April 11, 2022 6:05 pm

The unrelenting, steadily rising prices of transport fuel in India – in some states, as much as Rs 15 over the past month – have resulted in unprecedented inflation in the country, pushing the price of daily commodities to sky-high levels. The cost inflation index for the financial year 2021-22 was 317. In February 2022, […]

Overdraft Against LIC Policy: Handy Tool For Short Term Financial Needs

April 11, 2022 12:57 pm

At times a person is faced with a situation where he or she is in need of finance for a short time, be it fees for the children or unexpected medical emergency or a forgotten electricity bill. It may happen that your regular salary or revenue is still a few weeks or months away and […]

Beverage Makers Prepare For Life Without Plastic straws

April 10, 2022 2:03 pm

With less than three months to go before the nationwide ban on single-use plastic straws comes into effect, beverage makers are scrambling to come up with alternatives. The plastic straw pierced into Tetra Pak cartons has become one of the most common modes of consuming cold beverages in India and the ban will majorly impact […]

RBI Ex-Governor Rajan Accused Of Helping “The White Man”

April 5, 2022 12:17 pm

RBI and the Indian government have always been belligerent towards each other. However, this is the first time a senior government official has accused Rajan, the former governor of the Reserve Bank of India, of favoring developed nations by keeping interest rates low. The government has sought an investigation into the RBI’s true motivations for […]