Reliance Power shares rallied 5% to hit the upper circuit placed at Rs 46.29 after its arm bagged a 930 MW solar energy contract from Solar Energy Corporation of India (SECI). The company’s IPO price is still 10 times higher than the current stock price. Reliance Power was launched in the secondary market at a
Jubilant FoodWorks’ shares are under pressure after its promoters, the Jubilant Bhartia Group, acquires 40 per cent stake in Hindustan Coca-Cola Beverages (HCCB), the largest Coca-Cola bottler in India. The stock is trading almost 3.40 per cent down and Jubilant FoodWorks currently has a market capitalisation of Rs 45,150 crore, with a price-to-earnings (P/E) ratio
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a subdued opening on Thursday. Here’s a look at the key stocks to watch in trade. Stocks in Focus: GIFT Nifty was trading 14.50 points or 0.06% higher at 24,749 indicating a subdued start for domestic indices NSE Nifty 50
Gold and silver prices saw a jump of almost a per cent compared to yesterday after China is likely to weaken its currency Yuan next year to support the economy. “The upcoming US CPI data, set to release this evening, holds significant importance as it will shape market expectations for the Federal Reserve’s interest rate
Emerging market (EM) currencies with larger trade surplus with the US could be more at risk once Donald Trump assumes office. In case of any geopolitical risk and potential trade tension, India would be relatively better placed within the EM basket, Flavio Figueiredo, global head of foreign exchange at Citi, tells Sachin Kumar in an
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 might see a muted start on Thursday despite Asian markets opening on a higher note in early trade hours. Previously, on Wednesday, the NSE Nifty 50 closed the session 32 points or 0.13% higher at 24,641, while the BSE Sensex closed 16.09
The Securities and Exchange Board of India (Sebi) has notified the expansion of the definition of “connected persons”, who have access to price-sensitive information, with effect from December 5. Bringing in more people under the scanner, the regulator has included relatives, related firms or partners and people living in the same household or residence as
Sai Life Sciences IPO opened on December 11 aims to raise Rs 3,042.62 crore through a combination of fresh shares and offer for sale. The OFS has a bigger share in the issue, with Rs 2,092.62 crore going to the pockets of promoters and other selling shareholders. While the money raised through fresh shares will
Spencer’s Retail, the retail arm of the RP Sanjiv Goenka group, entered the quick commerce sector with JIFFY, its new online platform, on Thursday, starting with Kolkata. The operation will eventually be rolled out to other parts of West Bengal, followed by Uttar Pradesh (UP). The retailer currently has a total of 89 stores in
E-commerce giant Amazon is set to acquire Indian startup Axio, an online lending platform offering point-of-sale financing. Amazon first invested in Axio during its Series C funding round six years ago and currently holds an 8% stake in the company. “In December, after the successful completion of due diligence, we signed an agreement with Amazon
Mukesh Ambani-led and oil and gas major, Reliance Industries has declared its quarterly earnings. The company’s profit jumped 11.7% YoY to Rs 21,930 crore from Rs 19,641 crore. The big contribution came from he company’s digital services and festive demand for the retail business. Even for the Oil and gas business, it was a steady
8th Pay Commission salary revision: In a major relief for about 1.2 crore central government employees and retirees, the Modi government on January 16 announced the approval of the 8th Pay Commission. On the Union Cabinet’s nod for the next pay panel, Union Minister Ashwini Vaishnaw said that PM Narendra Modi has approved the 8th
The news about the move by the founder of the US-based short seller Hindenburg Research to disband the entity apparently has huge implications for India and especially for its regulatory institutions. “This is a very important development and will play a role in reinforcing the faith in the Indian regulatory institutions,” says Prasanna Tantri, associate
