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BUSINESS

Wipro rises on signing MoU with MTC

Wipro is currently trading at Rs. 238.45, up by 0.30 points or 0.13% from its previous closing of Rs. 238.15 on the BSE. The scrip opened at Rs. 236.50 and has touched a high and low of Rs. 239.70 and Rs. 236.50 respectively. So far 18360 shares were traded on ... Read More »

India’s electricity demand drops 4.3% in November: CEA

Central Electricity Authority (CEA) in its latest data has showed that India’s power demand dropped 4.3% in November 2019 from a year ago, representing the fourth straight month of decline, potentially reflecting a worsening industrial slowdown which has stifled overall economic growth. Data showed that electricity demand fell to 94.60 ... Read More »

India’s NBFCs to go for offshore financing in 2020: Fitch

Global rating agency, Fitch Ratings in its latest report has said that India’s non-banking financial companies (NBFCs) will go for offshore financing in 2020 as funding conditions within the local market will continue relatively tight for NBFCs overall, though some improvement since the failure of Infrastructure Leasing & Financial Services ... Read More »

Kimia Biosciences receives ‘Site certificate under WHO-GMP certification Scheme’

Kimia Biosciences has been granted ‘Site certificate under WHO-GMP certification Scheme’ by State Drug Controller Haryana, Food and Drug Administration Haryana Panchkula for complying with Goods Manufacturing Practices for Pharmaceutical products for Starting materials namely ‘Active pharmaceutical Ingredients(API) Bulk Drugs’ for Categories- ‘Non Beta Lactum’ for Production, Packing and Quality ... Read More »

Majesco releases version 11 for Majesco Distribution Management platform

Majesco has released version 11 for the Majesco Distribution Management platform. This release highlights Majesco’s continued strategic investment in the distribution management solution to enable insurers to optimize their distribution channels with rich digital, distribution and data capabilities. Some key elements includes Multi-Channel Enablement, Compensation Schemes, Enhanced Onboarding and Compliance, ... Read More »

Tasty Dairy Specialities inks agreement with Noluma International

Tasty Dairy Specialities (TDSL) has entered into an Agreement with Noluma International to provide its range of dairy products in patented Noluma Certified Packaging which will increase the shelf life of products. For TDSL, it is a phased arrangement in which there will be stage wise collaboration of the two ... Read More »

KDDL’s arm opens two new stores in Jaipur

KDDL’s subsidiary — Ethos has launched two new stores at World Trade Park, Jaipur. The stores are located at Unit no. W1 and Unit no. W2, JLN Marg, Malviya Nagar, Jaipur in the state of Rajasthan. The area of the above store is 487.2 sq. ft. The aforesaid is an ... Read More »

Tata Motors Group’s global wholesales fall 15% in November

Tata Motors Group’s global wholesales in November 2019, including Jaguar Land Rover, were at 89,671 nos, lower by 15%, as compared to November 2018. Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in November 2019 were at 31 ,030 nos, lower by 19%, over November 2018. ... Read More »

Panacea Biotec surges on launching ViLACT in India

Panacea Biotec is currently trading at Rs. 117.65, up by 1.80 points or 1.55% from its previous closing of Rs. 115.85 on the BSE. The scrip opened at Rs. 117.00 and has touched a high and low of Rs. 122.30 and Rs. 114.50 respectively. So far 10341 shares were traded ... Read More »

ADB lowers India’s economic growth forecast to 5.1% for 2019

The Asian Development Bank (ADB), in its latest Asian Development Outlook Supplement report has lowered its forecast for India to 5.1% for 2019 from its September estimates of 6.5% as the foundering of a major nonbanking financial company in 2018 led to a rise in risk aversion in the financial ... Read More »

Hero MotoCorp to increase price of its products

Hero MotoCorp is all set to make an upward revision in the ex-showroom prices of its motorcycles and scooters, effective January 1, 2020. The price increase across its range of two-wheelers will be upto Rs 2000, although the exact quantum of the increase will vary on the basis of the ... Read More »

HDFC to acquire 9.12% stake in HDFC Credila Financial Services

Housing Development Finance Corporation (HDFC) is proposing to acquire around 1.14 crore equity shares of Rs 10 each of HDFC Credila Financial Services, a subsidiary of the company, representing 9.12% of the equity share capital of HDFC Credila on a fully diluted basis, from its other promoters for a total ... Read More »

Redington’s arm acquires additional 12% stake in RCS

Redington India’s wholly owned subsidiary — ProConnect Supply Chain Solutions has acquired additional 12% stake in Rajprotim Supply Chain Solutions (RCS). With this acquisition, the total holding of ProConnect in RCS is increased from 88% to 100% and hence pursuant to this acquisition, RCS becomes a wholly owned subsidiary of ... Read More »

Mastek to merger US step down subsidiaries

Mastek has initiated process for merger of US Step down Subsidiaries — TAIS Tech LLC with Trans American Information Systems Inc. (post which TAIS Tech LLC will cease to exist). With this merger, the company will enable greater synergies between the two Companies, and also will achieve higher operational efficiencies. ... Read More »

ICICI Bank opens service center in Bahrain

ICICI Bank has opened new service center in Bahrain in Middle East. The new service center will provide services for all products offered by the Manama branch, except cash deposit and withdrawal. The bank already has a retail branch at the local Manama Centre. The bank will offers products, specially ... Read More »

HDFC Bank conducts Grameen Loan Mahotsava in Tamil Nadu

HDFC Bank has successfully conducted Grameen Loan Mahotsava at Theni in Tamil Nadu. Launched nationally on September 22, this edition of the Mahotsava is a part of the various Loan Melas held across the country. One such event has already been held at Tiruchengode in the state. HDFC Bank is ... Read More »