Blackstone Inc. is seeking to raise as much as 31.8 billion rupees ($400 million) through the sale of shares in Indian automotive component maker Sona Comstar, according to terms of the deal seen by Bloomberg News. An affiliate of the US firm is offering the shares in Sona BLW Precision Forgings Ltd., as it is …
Asian stocks and US equity futures stabilized Wednesday as investors assessed whether an escalating economic slowdown will lead the Federal Reserve to temper the pace of monetary tightening. South Korea led modest early gains among Asian bourses, while S&P 500 contracts fluctuated after the gauge posted a small loss on Tuesday. The latest data showed …
The government on Thursday hiked the windfall profit tax on the export of diesel to Rs 7 per litre and brought back a tax on jet fuel exports, but slashed the levy on domestically produced crude oil in line with softening rates.At the third fortnightly review, the government raised the windfall profit tax on the …
Reversing a two-session losing streak, the rupee appreciated by 16 paise to close at 79.24 against the US dollar on Friday after the Reserve Bank hiked interest rates by 50 basis points. At the interbank foreign exchange market, the domestic currency opened at 79.15 per dollar and hovered in a range of 78.94 to 79.29.It …
In the domain of AI and content creation, there has been a rise in concern with regards to the imperative of responsible navigation. Beyond the allure of technology, the crux lies in its consequential impact. This understanding resonates with Meta, which claims to transcend mere rhetoric into tangible action. As per the company, it actively …
Bulls and bears continued to battle it out on Dalal Street on Wednesday only for headline indices to close in the green, extending their up-move to their second day straight. At the end of the day, S&P BSE Sensex added 54 points or 0.9% to settle at 59,085 while the NSE Nifty 50 index jumped …
Our Annual Report analysis of Cipla indicates robust improvement in return ratios over FY18-22. Notably, there had been an improvement in ROE in FY21 (+400bp y-o-y) to 14.1% and it sustained at similar levels in FY22. Over FY18-20, Cipla’s earnings were largely flat. However, the efforts across key geographies aided by limited competition products in …
Sona BLW share price tanked 6 per cent on Thursday to hit an intraday low of Rs 507 on NSE. The share price drop comes after it was reported that Blackstone Inc. is looking to raise as much as Rs 3,180 crore through the sale of shares in the automotive component maker Sona Comstar. According …
Stitched Textiles, which owns leading men’s wear fashion brand “Barcelona”, has decided to withdraw its Rs 200 crore-Initial Public Offering (IPO).The IPO was slated to be entirely a fresh issue of equity shares. Proceeds of the issue were to be used for expansion of the company’s retail network by launching exclusive brand outlets, enhancing the …
Blubirch, a SaaS and AI-based automation-driven reverse supply chain management platform, said it has secured a funding of Rs 53 crore from Cornerstone Ventures and Capital2B.With this latest round of funding, the company has so far raised Rs 85 crore in fundings. Blubirch said that the fundraise will help accelerate its growth, deepen its market …