Depository of News

Satya Nadella sells 50% of his stake in Microsoft ahead of capital gains tax law regime

Microsoft in a statement said that CEO Satya Nadella sold his stake for personal financial planning and diversification reasons,

Serum Institute delivers first Novavax shot through COVAX

The world#39;s biggest vaccine maker exported 137,500 doses of Covovax, as it calls the shot, to the Southeast Asian country last week.

Deep Value Series: Control Print -- Why look at this quality mid-cap?

Given the promising medium- to long-term outlook of Control Print, the valuation is extremely undemanding

Petrol, diesel prices on December 1: Fuel rates remain unchanged for 27 days in row

So far, 27 states and union territories have cut VAT on petrol and diesel prices to give further reprieve to consumers battered by record-high retail rates of the two fuels.

Supply chain constraints to dent Maruti Suzuki production levels in December

Due to supply constraints, the company is expecting an adverse impact on vehicle production in December 2021 in both Haryana and Gujarat (Suzuki Motor Gujarat Pvt Ltd), owing to a supply constraint of electronic components impacted by shortage of semiconducto

NMDC slashes lump ore prices by Rs 750 per tonne, fines by Rs 200 per tonne

In a regulatory filing, the company said it has revised the rates of lump ore or higher grade ore to Rs 5,200 a tonne.

Bharat Biotech studying if Covaxin shot will work on Omicron

«Covaxin was developed against the original Wuhan variant,» a Bharat Biotech spokesperson told Reuters in a text message, referring to the Chinese city where the virus first emerged.

SP keeps India#39;s GDP growth forecast unchanged at 9.5% in FY22

The Indian economy had shrunk by 7.3 per cent in 2020-21 fiscal (April 2020 to March 2021) as pandemic induced restrictions battered business activity.

TRAI releases consultation paper to discuss pricing, modalities for auction of 5G spectrum

The Telecom Department has asked TRAI to provide recommendations on issues such as applicable reserve price, band plan, block size, quantum of spectrum to be auctioned and associated conditions for auction of spectrum in 526-698 MHz, 700 MHz, 800 MHz, 900 MHz

Edelweiss Financial Services#39; board approves fundraising up to Rs 1,000 crore via NCDs

A meeting of the debenture fundraising committee of the company’s board of directors held on Monday (November 29) considered and approved the public issue of secured, redeemable non-convertible debentures (NCDs), the company said in a filing on Tuesday.

UK regulator orders Facebook to sell Giphy

The Competition and Markets Authority#39;s decision comes after consultation with interested businesses and organisations, and study of potential solutions from Facebook itself.

Maruti Suzuki hikes prices of Eeco van by Rs 8,000

The increase in price is effective from November 30, 2021, the company said in a regulatory filing.

Govt#39;s excise mop-up from petrol, diesel doubles to Rs 3.7 lakh crore in FY21; states get Rs 20,000 crore

Minister of State for Finance Pankaj Chaudhary in a written reply to a question stated that collection from levy of central excise duty on petrol and diesel increased from Rs 1.78 lakh crore in 2019-20 to Rs 3.72 lakh crore in 2020-21 (April 2020 to March 202

Fitch affirms ICICI Bank rating with negative outlook

The negative outlook comes despite the agency recently revising upwards the operating environment outlook of domestic banks to stable from negative, citing better than expected recovery in business and economic activity following the COVID-19 second wave.

Zero transaction fee at the heart of Visa’s complaint about RuPay

Incumbent card networks face pressure from alternative real-time payment systems in many countries

Grow up Visa, compete and not complain

Visa might be a global giant, but it will have to think local to survive and prosper in India

Adda247 raises around $20 million in funding round led by WestBridge Capital

The Series B funding round also saw participation from existing investors, including Info Edge, Asha Impact and JM Financials, the company said in a statement.

Lupin launches educational website Sciflix for medical students

Sciflix is a comprehensive learning platform in pulmonology where all scientific needs of postgraduate students will be addressed by a multisource library under one roof, the company said in a regulatory filing.

Cryptocurrency | Virtual currencies are here to stay. Astute regulation is what is required

The introduction of the cryptocurrency Bill is only the first step. As technology evolves, the law will catch up. It is also hoped that the contours of the law will encourage innovation, and use of technology to expand financial markets

Crypto Conversations: How blockchain helps fight cybercriminals 

Compliance as a Service (CaaS) providers are leveraging the power of blockchain technology to create an ecosystem that delivers top compliance, regulatory, and transaction monitoring, all under one roof

Zerodha#39;s Nikhil Kamath says #39;Twitter missed US tech rally#39; after Jack Dorsey steps down

Twitter said Jack Dorsey will be succeeded by Chief Technology Officer Parag Agrawal.

Auto component stocks shiver on fears of Omicron virus impact

The stocks had run up by 70-80 per cent over a year. Hence, a drop in stock prices would make the risk-reward equation for investors more favourable

Co-working startup ABL Workspaces raises Rs 15 crore from Canada-based Ethik Inc

In a statement, ABL Workspaces said it has raised Rs 15 crore from Canada-based Ethik Inc in Series A funding round.

SEBI bans ARSS Infrastructure, 6 persons from markets; levies fine

The six persons (the company’s directors, chief executive officer and chief investment officer) have been restrained from the capital markets either for six months or one year.

Omicron adds new uncertainties to global economic outlook: Moody#39;s Analytics

In its commentary titled #39;Much to Learn About OmicronFast’, Moody’s Analytics said although the variant appears to spread ”remarkably quickly”, it will be at least two more weeks before more will be known about this new variant.

IndiGo renews its partnership with French hospitality group Accor

Through this partnership, IndiGo’s 6E Rewards members can now avail a 15 per cent discount, when they book directly with Accor and earn up to 6 per cent 6E Rewards as feature partner on any spends across Accor properties in India, Sri Lanka and participa

Bombay HC directs Centre to inform it about introduction of bill on cryptocurrency

The court was hearing a public interest litigation (PIL) filed by advocate Aditya Kadam, seeking directions to the central government to formulate laws to govern the use and trade of cryptocurrency within the country.

MoUs worth over Rs 14,000 crore signed before Vibrant Gujarat Summit

It was the second MoU signing event ahead of the VGGS to be held on January 10-12 next year, attracting the total proposed investments of over Rs 38,188 crore so far.

Ather Energy plans to set up its 2nd manufacturing facility at Hosur, Tamil Nadu

The new facility will come up at Hosur, in Tamil Nadu to cater to the growing demand for its e-two-wheelers — 450 X and 450 Plus — the company said in a release.

Invest Rajasthan Summit: State govt to hold roadshow in Delhi

The state’s industry minister Shakuntala Rawat will lead the delegation at the roadshow in Delhi on December 1.

Nupur Recyclers to set up 200 EV charging points, battery swapping stations

Mumbai, Nov 29 Marking its foray into the domestic Electric Vehicle (EV) space, Nupur Recyclers on Monday said it plans to set up 200 charging poin..

upGrad makes first overseas deal, snaps up Australian Global Study Partners

upGrad, which has been growing through acquisitions and has earmarked an MA war chest of USD 250 million, has entered into an acquisition agreement to buy 100 per cent of GSP for AUD 16 million with a commitment of a further AUD 10 million in future, the Ronn

Jute Commissioner rejects IJMA#39;s proposal to revise fair price of raw jute

The jute mills lobby body had submitted their suggestion to the Jute Commissioner, the regulator, to revise the fair price of raw jute to Rs 7,200 from Rs 6,500, after an emergency meeting pursuant to a high level meeting in the state secretariat in presence

Asian Paints to invest Rs 960 crore to expand Gujarat unit

The company has signed a memorandum of understanding with the Government of Gujarat commencing the proposed expansion of manufacturing capacity of paint from 1.3 lakh KL to 2.5 lakh KL and resins and emulsions from 32,000 MT to 85,000 MT, Asian Paints said i

Air travel in India is on the cusp of normalcy; will Omicron change that?

While November will see a new peak in passenger numbers and flights deployed within India, new Covid variant Omicron may throw up some challenges and hinder plans to recommence international flights from December

Singapore crypto bourse enters India despite pending curbs

Coinstore has launched its web and app platform and plans branches in Bangalore, New Delhi and Mumbai, which will act as its base for future expansion, its management said.

Visa complains to US govt about India backing for local rival RuPay

In public Visa has downplayed concerns about the rise of RuPay, which has been supported by public lobbying from Prime Minister Narendra Modi that has included likening the use of local cards to national service.

MC Insider: Market buzz, investment rethink, microfinance wars, salary boom and more

Hush-hush tales from the world of stock markets, banking, corporate world and corridors of power

Amazon India head summoned by ED over alleged Future Group deal irregularities

The Enforcement Directorate is examining whether the deal violated India#39;s law on foreign exchange when it invested Rs 1,431 crore to purchase a 49 percent stake in Future Coupons Pvt Ltd (FCPL) in 2019 and if it complied with regulations

In Pics | M-cap of nine out of the top 10 most valued firms eroded by Rs 2.62 lakh crore

The market valuation of nine of the top-10 most valued companies eroded by Rs 2,62,146.32 crore last week in tandem with an overall weak broader market. While Bajaj Finance and Reliance Industries took the biggest hit, Bharti Airtel was the only gainer from t
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