Parag Milk Foods Ltd on Wednesday announced that it has raised a total of Rs 131 crore through preferential allotment from marquee investors and promoters. In a regulatory filing, the company said investors have invested Rs 113 crore and promoters about Rs 18.75 crore looking at the promising growth strategy. “The current proceeds of preferential …
BSE Sensex and NSE Nifty 50 have soared higher in recent days, helped by positive flows from foreign institutional investors, softening inflation, and expectations of less hawkish global central banks. However, after the sharp up-move charted by benchmark indices, analysts are not ruling out a short-term correction on Dalal Street. Amid such a scenario, analysts …
Rakesh Jhunjhunwala continues to remain bullish on domestic stock markets even as Dalal Street, along with global peers, faces multiple headwinds. “I think the (domestic) stock markets will grow regardless of global developments,” Rakesh Jhunjhunwala told CNBC TV18 in an interview. Although he remains a proponent of Indian markets, he said that the pace at …
Indian retail companies reported a strong earnings in the quarter ended June 2022. Q1FY23 was impressive with 3 per cent and 11 per cent sales and EBITDA outperformance respectively. Most companies comfortably topped pre-covid trends. According to analysts at Edelweiss Securities, business outlook provided by retail companies and the trends, at large, are positive, indicating …
Central government in its fortnightly review of windfall gains tax on August 18 cut the cess on crude oil to Rs 13,000/tonne from Rs 17,750 per tonne earlier. The export duty on aviation turbine fuel (ATF) has been hiked to Rs 2 per litre from nil, while the export duty on diesel has been raised …
A four-time Chief Minister, Shivraj Singh Chouhan has been in politics for over three decades now. Having served as an MP as well as an MLA, Chouhan’s career has seen several ups and downs. From once being seen in media circles as “prime minister material” to being ousted from power in 2018 after serving as …
The historic rout in oil markets sent the US crude oil prices to negative USD 40 a barrel. The collapse in oil prices can prove to be a boon for India as it is the time for the country to fill its strategic reserves with cheap oil. Sugandha Sachdeva, VP, Metals, Energy & Currency Research …
Switch Mobility, a Hinduja Group company and the next-generation bus and light commercial vehicle manufacturer has bagged an order for 70 electric buses from Stagecoach, one of the UK’s leading bus and coach operators. The order consists of 10 Switch Metrocity 9.5-metre electric buses, which will operate on Route W11 in London and 60 Slimline …
The Indian rupee is expected to depreciate on Friday amid expectations of weak macroeconomic data from India. CPI year-on-year is expected to drop from 7.01% to 6.78%. Additionally, industrial production is expected to drop from 19.6% to 10.7%. USDINR (August) is likely to trade in a range of 79.70-79.90, according to ICICIDirect. In the previous …
Indian equities lost ground for the second straight session on Monday, anxious that global growth would slow sharply amid continued tightening by central banks. The Street also expects more hikes in local interest rates with inflation remaining uncomfortably high. The benchmark indices – Nifty 50 and BSE Sensex – lost over 1%, dragged lower by …