Jio Financial Services Announces Joint Venture with BlackRock: Shares went up by 5%
Jio Financial Services has consistently delivered positive monthly returns from November last year to March this year and its shares saw significant gain, with the scrip trading ..
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RBI Imposes Restrictions on Sarvodaya Co-operative Bank and National Urban Co-operative Bank
RBI has capped the withdrawals at INR 10,000 for customers of National Urban Co-operative Bank Limited and the withdrawals of INR 15,000 from the account of Sarvodaya Co-operative Bank due to their deteriorating financial health
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Reliance Infrastructure’s Mumbai Metro Debt Woes Resolved, Maharashtra Government Set to Acquire Stake
The Maharashtra State cabinet had previously approved the purchase of the company's 74% stake in Mumbai Metro project, valuing it at INR 4,000 Cr.
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Meesho Eyes USD 500-650 Million Funding Round, Meets Interest from VC Giants
The current valuation of Meesho is USD 3.9 Billion, down 20% from the previous valuation of USD 4.9 Billion in 2021, early backers including Venture Highway and Meta are expected to reduce their stake as part of the funding
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Edelweiss Alternatives Completes Acquisition of L&T Infrastructure Development Projects
The sale of LTIDPL aligns with L&T's strategic objective of divesting non-core businesses to optimize its portfolio. By reducing exposure to asset-heavy developmental projects, L&T aims to enhance its return on equity
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NCLAT Rejects Plea for Insolvency Against Parsvnath Landmark Developers
Rejection was made by the NCLT, followed by NCLAT, on grounds of not meeting the criteria given under section 7 of the IBC, IBC requires to have at least 100 allottees or 10% of total homebuyers whereas the petitioners were only 4
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Calcutta HC Restrains HUL from Using ‘Glow & Handsome’ Mark
The HC considered Emami to be the first company to create anti-blackness products for men and promoted its "Fair and Handsome" product line in October 2005, before HUL did the same
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Elon Musk Confirms Visit to India, Excited to Meet Prime Minister Modi
Elon Musk has now confirmed his India Visit on his self-owned Social Media Platform X, Musk has expressed his eagerness to meet Prime Minister Narendra Modi
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Indri-Trini: India’s Own Single Malt Whisky Emerges as World’s Fastest-Growing Liquor
The Awards and Recognition of the company include: ‘Best Indian Single Malt’, 'The World Whiskey Awards at the International Whiskey Competition', 'Asian Whiskey of the Year' and so on
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SEBI May Grant Exemptions to PSBs and CPSEs for Meeting Public Shareholding Norms
At present, the government stake in five public sector banks, namely Indian Overseas Bank, UCO Bank, Central Bank of India, Punjab & Sind Bank and Bank of Maharashtra is more than 75%
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Ashneer Grover Ventures into Fintech Again with ZeroPe: A Medical Loan App
The New Venture ZeroPe is the Brainchild of Ashneer’s company ‘Third Unicorn’ which earlier launched a fantasy gaming app CrickPe giving competition to players like Dream 11 and MPL
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Sun Pharma’s Dadra Facility Classified as Official Action Indicated by USFDA
Inspection of Dadra Facility by USFDA was initiated on 4th December 2023 and concluded on 15th December 2023. Following the news, Sun Pharma’s shares went down by 3% on the BSE
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Vodafone Idea Announces INR 18,000 Crore Follow-On Public Offer
The company recently raised INR 2075 Cr through the issuance of preferential shares to one of its promoter entities, Oriana Investments Private Limited.
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Go First Granted Another 60-Day Extension for Insolvency Resolution by NCLT
The CoC comprising institutions like the Central Bank of India, Bank of Baroda, and IDBI Bank supported the extension in its meeting on March 29th
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RBI Keeps Repo Rate Unchanged at 6.5% Amid Robust Growth
The Reserve Bank of India (RBI), on Friday 5th April 2024 announced that it would maintain the key policy repo rate at 6.5% marking the 7th consecutive time
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FSSAI Directs E-commerce Giants to Halt Misleading Labeling of Beverages
FSSAI is observing corrupt practices where dairy-based drink mixes cereal drink mixes or malt-based beverages are wrongly advertized as "health drinks" or "energy drinks" on e-commerce websites
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CCI’s Notice to Muthoot Finance for Allegations of Data Misrepresentation
This is not the first time Muthoot Finance has faced regulatory scrutiny. A similar notice issued by the CCI was earlier stayed by the Kerala High Court in September 2023
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Ambani-Adani Collaborates First Time: Reliance Industries Acquires Stake in Adani Power Project
According to the agreement between Adani Power & Reliance Industries, one unit of the Mahan Thermal Power Plant, with a total capacity of 2800 MW, will be designated as the Captive Unit for Reliance’s usage
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Adani Ports Expands East Coast Presence with Gopalpur Port Acquisition
Adani Ports will acquire, each from Shapoorji Pallonji Group and Orissa Stevedores, 56% and 39%, respectively. The deal was valued at INR 3,080 Cr in a term sheet
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Market Buzz: Anil Ambani’s Reliance Power Shares Surge 35% in Eight Sessions
In just eight straight sessions, the share price has soared to INR 27.60 apiece on the NSE, marking a remarkable 35% appreciation. Experts are of the view that the surge is due to a debt reduction plan.
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SRM Contractors Limited Enters the Indian Primary Market with an IPO
The GMP was INR 67 per share, and the company has set a price band of INR 200 to INR 210, and post IPO, the shares are expected to be listed on 3rd April 2024
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India Unveils Electric Vehicle Policy to Attract Global Players Like Tesla
Companies setting up manufacturing facilities in India will have three years to start operations and will have to achieve a localization level of 50% within 5 years
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Paytm Issues FAQs Amid Closure of Paytm Payments Bank Arm
Users can breathe a sigh of relief as Paytm reassures them that essential services such as Paytm QR codes, Soundbox, card machines, and various financial transactions will remain fully functional.
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SEBI Greenlights Same-Day Settlement and Overhauls IPO, FPI, and AIF Rules
the SEBI’s approval for the T+0 settlement comes with certain limitations. It will apply to just 25 stocks and a restricted number of brokers. This move is expected to infuse agility and efficiency
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Paras Healthcare Eyes IPO Worth INR 1,000 Cr for Expansion and Shareholder Exit
Paras Healthcare presently operates seven multi-super speciality hospitals branded as 'Paras Health.' With a total of 1,700 beds across locations in Haryana, Bihar, Rajasthan, Jharkhand, and Jammu & Kashmir
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Reliance Industries to Acquire Paramount Global’s Stake in Viacom18 Media
Reliance will predominantly own the merged entity, Disney will hold a minority stake. The merger comes as Disney seeks to overcome subscriber retention challenges, particularly in the wake of Reliance's disruptive entry into the sports broadcasting
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Indian Startups to Revolutionize Economy and Job Market by adding USD 1 T Economy & 50 M Jobs
Startups have already played a significant role in India's GDP growth, contributing 10-15% between FY16 and FY23. Retail and e-commerce are projected to lead..
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HiLabs Secures USD 39 Million in Series B Financing for AI-Powered Healthcare Solutions
HiLabs journey started from Yale University in USA, with a modest team comprising interns and 2 full-time employees based in India, the startup has grown significantly
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Government Launches Electric Mobility Promotion Scheme 2024 as a rebranding of FAME-II
Mahendra Nath Pandey, India's Minister of Heavy Industries, highlighted that the scheme, endorsed by the MHI aims to promote the use of electric two-wheelers, three-wheelers, and e-rickshaws
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Inflation Rate Stands at 5.09%, Remains within RBI Tolerance Range for the sixth consecutive month
On March 12th, 2024, the Ministry of Statistics and Programme Implementation unveiled the Consumer Price Index (CPI) data for February revealing that CPI stood at 5.09%. This figure indicates a marginal decrease from January’s 5.10%. The data shows sustained stability in Inflation with the CPI staying within the Reserve Bank of India (RBI) tolerance range […]
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Godrej Properties Acquires Prime Land in Hyderabad’s Kokapet for INR 1,300 Cr
Kokapet offers excellent connectivity to the Rajiv Gandhi International Airport and major social and commercial areas within the city, making it an attractive destination for real estate investment.
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