Inflation has broadly declined within the tolerance band of the Reserve Bank (of 2 to 6 per cent), though food price fluctuations have created some volatility, the statement said. …
Excelsoft Technologies, which provides technology-based solutions for learning and assessment, plans to tap capital markets for fund raising up to Rs 700 crore via initial public offering.
The IPO will be a combination of fresh issuance of equity shares worth Rs 210 crore, and an offer-for-sale of shares worth Rs 490 crore via offer-for-sale, said the company in its draft red herring prospectus filed on February 28.
Promoters Pedanta Technologies, and Dhananjaya Sudhanva will be selling shares worth Rs 340 crore, and Rs 150 crore, respectively, via offer-for-sale.
The bear-driven equity market is not only delaying IPO launch but also impacting the subscription numbers which were used to be significant with double-triple digits till the first week of February….
One97 Communications (OCL), which owns Paytm brand, informed BSE that it has received FEMA violation notice from the Enforcement Directorate on February 28 for its subsidiaries, Little Internet Private Limited(LIPL) and Nearbuy India Private Limited(NIPL).
The notice relates to violations relating to the acquisition of two subsidiaries – Little Internet Private Limited and Nearbuy India Private Limited for the years 2015 to 2019, the company said in a regulatory filing.
The notice has been issued to One97 Communications Limited, two of its acquired subsidiaries, LIPL and NIPL, and certain current and past Directors and officers of the company and its two subsidiaries, the filing stated.
Indian economy continued to perform well in the fourth and final quarter of the year, with GST collections recording a 9.1 percent rise to Rs 1.84 lakh crore in February compared with Rs 1.96 lakh crore in the previous month.
February marks the 12th consecutive month of over Rs 1.7 lakh crore of collections.
Net GST collections, after discounting the refunds, were also 8.1 percent higher from the previous year.
Considering the RSI is in the oversold zone, a possible rebound could push the Nifty 50 toward 22,300 (the immediate target), followed by 22,500. However, if the downtrend continues, the index may attempt to defend 22,000; below this, 21,800 is likely to act as key support….
The Securities and Exchange Board of India (SEBI) will soon initiate legal steps to challenge the order passed by the ACB Court, Mumbai, which, among other things, directed an FIR to be filed against former chairperson Madhabi Puri Buch, along with three current whole time members and two officials of BSE.
In an order passed on March 1, the ACB Court, following a miscellaneous application filed by Sapan Shrivastava, ruled that the Anti Corruption Bureau, Worli, Mumbai Region, should register an FIR against Buch, along with whole time members – Ashwani Bhatia, Ananth Narayan, Kamlesh Chandra Varshney – and BSE CEO Sundararaman Ramamurthy and former chairman and public interest director Pramod Agarwal. Read More
Transformers and Rectifiers (India) has secured domestic and export orders amounting to Rs 350 crore.
The company bagged an order for supply of transformers and reactors by next financial year to Adani Group worth Rs 272 crore.
In export market, the company bagged an order of Rs 78 crore from Al Sabha Group, Iraq and Powerlink Queensland, Australia for supply of transformers.
Oil prices rose 1% on Monday as upbeat manufacturing data from China, the world’s biggest crude importer, led to renewed optimism for fuel demand, although uncertainty about global economic growth from potential U.S. tariffs loomed.
Brent crude climbed 76 cents, or 1%, to $73.57 a barrel while U.S. West Texas Intermediate crude was at $70.51 a barrel, up 75 cents, or 1.1%.
The rebound after a severe fall can’t be ruled out, but the sustainability is key to watch. Below are some trading ideas for the near term….
#1 Total sales decline 8.2% to 79,344 units Vs 86,406 units, YoY
#2 Total domestic sales drop 9% to 77,232 units Vs 84,834 units, YoY
#3 Commercial vehicle sales down 7% at 32,533 units Vs 35,085 units, YoY
#4 Passenger vehicle sales (including EV) fall 9% to 46,811 units Vs 51,321 units, YoY
#1 Tractor sales increase 11.4% to 8,590 units Vs 7,709 units, YoY
#2 Domestic sales up 9.6% at 7,968 units Vs 7,269 units, YoY
#3 Exports sales grow 41.4% to 622 units Vs 440 units, YoY