Business


The business won shareholders' approval at the EGM to raise capital and to offer up to Rs 12,000 crore in new stock, the source included ... Digital payments firm Paytm is planning to raise $268 million in a funding round as it gets ready for a going public later on this year, a source directly aware of the matter stated on Monday.Paytm will likewise look for to release Rs 8,300 crore worth of brand-new shares and its backers Alibaba and SoftBank will have the alternative to sell another Rs 8,300 crore in stock, said the source, who declined to be named as the discussions are not public.Paytm's parent, One97 Communications Ltd, will submit a draft prospectus soon after its remarkable basic conference on Monday for a domestic IPO that seeks to raise $2.3 billion, sources formerly told Reuters.That would make Paytm's IPO the nation's third-biggest in dollar terms after state-run miner Coal India in 2010 and Reliance Power in 2008. The company won investors' approval at the EGM to raise capital and to sell up to Rs 12,000 crore in new stock, the source added.Paytm did not instantly respond to a request for comment.Paytm has worked with JPMorgan Chase, Morgan Stanley, ICICI Securities, Goldman Sachs, Axis Capital, Citi and HDFC Bank for the IPO, Reuters formerly reported.The pre-IPO financing round was initially reported by Bloomberg.(Other than for the headline, this story has actually not been modified by TheIndianSubcontinent personnel and is released from a syndicated feed.)
Details
Category: Business

Write comment (90 Comments)

Tatva Chintan Pharma IPO: The IPO will consist of fresh issuance of shares worth Rs 225 crore and an offer of sale worth Rs 225 crore by existing promoters and shareholders...
Details
Category: Business

Write comment (94 Comments)


Completely, 45.86 million kg tea was exported from India between January to March in 2021. The figure was 52.85 million kg in 2020 ... Tea industry is taking a look at declining exports in 2021The tea industry is bracing for a decline in exports to the tune of 30-40 million kg this yearas compared to 2020, due to the schedule of affordable ranges in the worldwide market and amidst trade limitations in nations that have generally been strong importers, industry sources said.The coronavirus-induced financial slump in much of the world is also a factor for falling deliveries, they said.For the duration in between January to March this year, exports fell by 13.23 percent as versus the matching duration a year ago, and by 29.03 per cent compared to 2019, as per Tea Board India data.Altogether, 45.86 million kg tea was exported from India in between January to March in 2021. The figure was 52.85 million kg in 2020 and 64.62 million kg in 2019. The dip in the share of deliveries from North India has actually been more compared to South India considering that the last three years.While the tea export share of South India fell by 5.41 percent in 2021 in between January and March compared to the same period in 2020, the decline was 25.85 percent compared to 2019. In case of exports from North India, the figure for the three-month period was lower by 17.83 per cent as versus 2020 and 31.04 per cent compared to 2019. Indian exports have suffered in the last two-three years due to extremely low rates of Kenyan and Sri Lankan tea. Kenyan tea auction rate average is listed below $2 dollars per kg, which is much lesser than our auction average, Dinesh Bihani, secretary, Guwahati Tea Auction Purchasers Association (GTABA), stated.
Details
Category: Business

Write comment (91 Comments)

The wheat procurement of 433.32 metric tonnes is 12 per cent more than the 387 metric tonnes, which was procured during the year ago period....
Details
Category: Business

Write comment (99 Comments)


The financing was led by financial investors consisting of GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund and Walmart ...
Details
Category: Business

Write comment (93 Comments)


Telecommunication Ministry confirmed that there was a delay in the tendering process for allotment of 4G spectrum to BSNL, MTNL in 2020-21 ... Telecom Ministry might not float tenders for 4G spectrum rollout for BSNL, MTNL in 2020-21The Federal government has plans to revive its two telecommunication behemoths specifically Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL), which have actually remained in the red for a very long time now.In the Union Spending plan for 2020-21, the Ministry for Telecommunication had been designated Rs 20,410 crore by the Financing Ministry for capital infusion in both the organisations by offering them with 4G spectrum. Allocation of 4G spectrum to both the entities has actually been envisaged by the Centre as a step to financially restore them.However the Finance Ministry shifted the whole quantity allotted for the purpose to the present fiscal year, i.e. 2021-22, as the Telecommunication Ministry might not begin the tender process for supplying both BSNL and MTNL with 4G spectrum allocation.Top sources in the Telecommunication Ministry validated that there was a hold-up in the tendering process for allotment of 4G spectrum to the two state-owned communication business in 2020-21. Due to the delay, the ministry might not invest the whole Rs 20,410 crore during the whole of 2020-21, thus forcing the Financing Ministry to move the assigned quantity to the current fiscal year of 2021-22. Official sources stated that the funds were withdrawn from the Telecommunication Ministry throughout the Modified Price quote stage. Typically a particular amount is allocated to a department in the Union Budget for meeting its various expenses. This is called Budgetary Allocation in Financing Ministry's parlance.During the middle of the financial year, departments look for additional funds from the Financing Ministry depending on their requirements. Sometimes the original amount given under Budgetary Allocation is topped up or is even minimized, after reviewing the spending of the particular department or ministry. This is called Modified Estimate.In this particular case, the Budgetary Allowance made in the Union Budget Plan 2020-21 was Rs 20,410 crore under the head Capital Infusion in BSNL and MTNL for 4G Spectrum . At the Modified Price quote phase, this was brought down to zero as even till January 2021, the Telecommunication Ministry had actually not invested a single paisa from the allotted amount.Due to the hold-up on part of the Telecommunication Ministry in providing tenders for allocation of 4G spectrum for BSNL and MTNL, the whole amount was shifted as Budgetary Price quote for 2021-22 for the exact same purpose.
Details
Category: Business

Write comment (93 Comments)


Mobikwik share sale by means of IPO also includes a fresh problem of shares worth Rs 1,500 crore ... Digital payments firm MobiKwik, backed by Sequoia Capital and Bajaj Finance, applied for an initial public offering (IPO) worth as much as Rs 1,900 crore with the markets regulator on Monday.The IPO includes the concern of new shares worth Rs 1,500 crore and a market of shares worth approximately Rs 400 crore, diluting the stakes of its 2 creators and current investors, which also include American Express, Cisco and Treeline Asia.MobiKwik has actually hired ICICI Securities, BNP Paribas, Credit Suisse, IIFL Securities and Jefferies as book managers for the IPO.One97 Communications Ltd, the moms and dad of digital payments firm Paytm, Mobikwik's larger competitor, is also planning to raise $2.3 billion through an IPO, sources formerly told Reuters.
Details
Category: Business

Write comment (96 Comments)


The funding was led by financiers GIC, Canada Pension Investment Board, SoftBank Vision Fund 2 and Walmart ... Flipkart will be valued at $37.6 billion.Walmart-owned online retailer Flipkart on Monday ushered back Japan's SoftBank Group Corp as an investor in a $3.6 billion financing round, after which the e-commerce firm will be valued at $37.6 billion.The fundraise comes amidst Flipkart checking out going public in the United States and aiming for an assessment of up to $50 billion.The most current financing was led by investors GIC, Canada Pension Plan Investment Board, SoftBank Vision Fund 2 and Walmart, the Bengaluru-based business, which measures up to Amazon.com and India's Reliance Industries, said.It also brought in investments from sovereign funds DisruptAD, Qatar Financial Investment Authority, Khazanah Nasional Berhad and personal equity company Blackstone Group-backed Antara Capital among others.Japan's SoftBank had offered its roughly 20% stake in Flipkart to Walmart, which obtained a roughly 77 percent stake for about $16 billion in 2018. The latest financing values the company at almost double that rate. SoftBank's re-investment in Flipkart is driven by our experience with and conviction in the business's management group to continue dealing with the requirements of the Indian consumer in the years to come, Lydia Jett, partner at SoftBank Investment Advisers, said.Like its competing Amazon, Flipkart began by selling books, however diversified rapidly into sell selling smart devices, clothes and other products. It now competes with Amazon in the majority of classifications. We will focus on speeding up development for millions of small and medium Indian organizations, including kiranas, Kalyan Krishnamurthy, Flipkart Group CEO stated in a declaration.
Details
Category: Business

Write comment (95 Comments)

Economy will register a double-digit growth in the current fiscal and disinvestment climate also looks better, said the Niti Aayog Vice Chairman....
Details
Category: Business

Write comment (91 Comments)


India's retail inflation rose 6.26 per cent in June from a year earlier, government data released on Monday revealed ... Experts in a Reuters survey had predicted yearly inflation at 6.58% for the month.India's retail inflation increased 6.26 per cent in June from a year back, federal government information released on Monday showed.Analysts in a Reuters survey had forecasted yearly inflation at 6.58 per cent for the month.CommentaryUpasna Bhardwaj, Senior Financial Expert, Kotak Mahindra Bank, Mumbai The softer than anticipated inflation comes as a relief in an environment when the continuing accommodative stance stays a necessity to revive development. We expect the MPC (Monetary Policy Committee) to draw comfort from reasonably stable, although still high inflation Suvodeep Rakshit, Senior Economist, Kotak Institutional Equities, Mumbai The consecutive increase in June rates has actually been much milder than the sharp spike seen in May. While the seasonal increase in vegetables prices continued together with eggs, and oils and fat, the boost in many other food products were much softer. Core inflation saw some rate corrections in leisure and much milder boosts across the board compared to May. Broadly, even as price correction was not yet visible, the cost pressures are reducing. Inflation appears set to track lower towards 5.5 percent over the next few months. .
Details
Category: Business

Write comment (94 Comments)


Maruti Suzuki on Monday increased price of its popular car brand Swift and all CNG variants by approximately Rs 15,000 ... The country's largest automobile maker - Maruti Suzuki - on Monday increased price of its popular cars and truck brand Swift and all CNG variants by as much as Rs 15,000 (Ex-showroom rate Delhi) mentioning an increase in various input costs. The business included that rate increase in other models is also planned quickly and will be intimated accordingly.Maruti Suzuki undertook the fifth price hike of the year after it increased car costs on June 21. Vehicle makers throughout the world have been struck hard by shortage of semiconductors and increasing metal rates in worldwide markets which has actually resulted in price walkings, experts said.Semiconductors are silicon chips that deal with control and memory functions in items ranging from vehicles, computer systems and cellphones to different other electronic items.The usage of semiconductors in the vehicle market has gone up worldwide in recent times with brand-new models featuring increasingly more electronic features such as Bluetooth connection and chauffeur assist, navigation and hybrid electric systems.Following this development, Maruti Suzuki shares traded 1 percent higher at Rs 7,500, outshining the Sensex which was up 0.5 per cent.
Details
Category: Business

Write comment (100 Comments)

Petrol and Diesel Price Today in India: Petrol and diesel prices remained unchanged on July 11, a day after they were hiked for 38th time on July 10....
Details
Category: Business

Write comment (90 Comments)


The manufacturing sector witnessed a big dive in Might as the IIP index of production activity jumped 34.47 percent ... The nation's commercial production or factory output jumped in May on the back of an increase in production activity, information released by Ministry of Data - & Program Execution showed. Index of Industrial Production in the month of May increased 29.26 per cent to 116.6 compared with 90.2 in the exact same month last year, federal government data showed.The manufacturing sector experienced a big dive in May as the IIP index of production activity jumped 34.47 percent and mining sector also saw a growth of 23.28 per cent.Electricity index experienced single digit development of 7.5 per cent.Analysts surveyed by Reuters had expected a rise of 32 percent in May. The sharp increase was due to base results as the nation was under a strict lockdown throughout the exact same period last year.In April, production grew by 134.4 per cent in April 2021 from a year previously as an outcome of the base impact due to the COVID-19 lockdown that hit financial activity in 2015.
Details
Category: Business

Write comment (90 Comments)


Gold, Silver Cost Today, July 12, 2021: Gold futures on MCX stood at Rs 47,719 per 10 grams. Silver futures also moved and were at Rs 69,196 per kg ... Gold Rate Today: Yellow metal and silver rates fell on the MCXGold rates in India fell on Monday as yellow metal futures on MCX stood at Rs 47,719 per 10 grams. Silver futures likewise moved and stood at Rs 69,196 per kg.Meanwhile the gold area rate today was at Rs 47,810 without any modification over the other day. In the worldwide markets, yellow metal rates were stable and stood at $1802.8 per Troy ounce. Silver rates was up to $26.0 per Troy ounce.Commenting on the gold rate patterns, Ravindra Rao, Head of Commodity Research Study at Kotak Securities stated, COMEX gold trades partially lower near $1805 per ounce after a 0.6 per cent gain on Friday. Gold reduced as US bond yields came off the lows amidst stability in equity markets. Likewise weighing on cost is weaker financier interest and Fed's financial tightening expectations. However, supporting cost is rising virus concerns, US-China stress and inflationary issues. Gold might remain choppy in the middle of absence of fresh hints however increasing challenges might improve safe haven appeal.
Details
Category: Business

Write comment (94 Comments)


Crypto possessions continue to obtain value based upon their energy as a safe and de-regulated financial token, stated Mr Sumit Gupta, CEO, CoinDCX - India's leading cryptocurrency exchange ...
Details
Category: Business

Write comment (96 Comments)


India's retail inflation tapered a little to 6.26 per centin June 2021, compared to the month-ago period. It was 6.30 per cent in May 2021 ... India's retail inflation stood at 6.26 per cent in June 2021India's retail inflation tapered down slightly to 6.26 per cent in the month of June 2021, compared to the month-ago period, when it was at 6.30 per cent in May 2021. It was still over and above the Reserve Bank of India's (RBI) threshold of 6 per cent, according to the information issued by the Ministry of Statistics - & Program Execution on Monday.This is the 2nd time in 6 months that the Consumer Price Index (CPI) data has actually crossed the RBI's tolerance margin of 6 per cent. The RBI has actually been directed by the Government to keep retail inflation at the level of 4 percent, nevertheless with a 2 per cent margin on either sides, till March 2026. Meanwhile, the Customer Food Cost Index (CFPI) went up somewhat to reach 5.15 percent in June 2021 over 5.01 percent in May 2021. CFPI is also called food inflation.The marginal boost in food inflation was owing to sharp increase in costs of oils and fats, which taped a 34.7 percent dive in June 2021 over June 2020. Price of non alcoholic beverages likewise soared by 14.7 percent and costs of pulses too increased by 10 percent in June 2021 for many years ago duration.
Details
Category: Business

Write comment (93 Comments)


Requirement Chartered and RBL Bank anticipated the currency to diminish to 76 per dollar by year-end, while their peers at Deutsche Bank AG have a slightly less cynical forecast of 75 ...
Details
Category: Business

Write comment (98 Comments)


Sales of gas, increased around 5.7 per cent from the exact same period last year and jumped 21 percent from Might to 2.41 million tonnes, while diesel fell 1.6 per cent year on year to 6.20 million tonnes ...
Details
Category: Business

Write comment (92 Comments)

Power usage saw 18 per cent increase in the first week of July 2021, reaching 30.3 billion units, over 25.7 billion units of corresponding period....
Details
Category: Business

Write comment (100 Comments)


Asian shares were trading in the green on Monday as record highs on Wall Street and policy easing in China helped relax some of the current jitters on global development ...
Details
Category: Business

Write comment (92 Comments)


The net direct tax collections in between April 1 and July 3 stood at Rs 2.49 lakh crore, compared to Rs 1.29 lakh crore over the corresponding period in 2015, representing a boost of 91 per cent ...
Details
Category: Business

Write comment (96 Comments)


8 of 11 sector gauges put together by the National Stock Exchange ended greater led by the Nifty Realty index's over 3.5 per cent gain ... The Indian equity benchmarks ended on a flat note on Monday but mid- and small-cap shares outperformed their larger peers. The benchmarks staged a space up opening taking cues from positive global hints where the Sensex rose as much as 314 points and Nifty 50 index moved above 15,700. However, selling pressure in heavyweights like Infosys, HDFC Bank, HDFC, Bharti Airtel, Tata Steel and Hindustan Unilever were offset with gains in ICICI Bank, Reliance Industries, UltraTech Cement and Axis Bank.The Sensex ended 13 points lower at 52,372.69 and Nifty 50 index increased 3 indicate close at 15,693. European markets were trading with an unfavorable predisposition. Germany's DAX fell 0.2 per cent, France's CAC40 index decreased 0.51 per cent and England's FTSE100 index slipped 0.5 percent. We saw a get better in the market from the support level of 15650. 15800 will be a keep resistance level. If the marketplace breaches and sustains above the level, we can witness a positive motion in the market till the level of 16,100-16,150. On the sectoral front, all the major sectors have been selling a positive zone. Shreecem and JSW Steel are the leading gainers while Bharti Airtel and BPCL are the leading losers on Nifty, Gaurav Garg, Head of Research, CapitalVia Global Research study told TheIndianSubcontinent.Mid- and small-cap shares outperformed their larger peers as Nifty Midcap 100 and Nifty Smallcap 100 indices advanced 0.44 and 0.51 percent each respectively.Eight of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Real estate index's over 3.5 percent gain. Nifty Private Bank, Bank, Vehicle and Financial Services indexes also rose between 0.2-0.4 per cent.On the other hand, Metal, Media and IT indices ended lower.UltraTech Cement was leading Cool gainer, the stock rose 2.5 per cent to close at Rs 7,070. Grasim Industries, Shree Cements, JSW Steel, SBI Life, Tata Consumer Products, ICICI Bank, State Bank of India, IndusInd Bank and Axis Bank were also among the gainers.On the flipside, Bharat Petroleum, Bharti Airtel, Adani Ports, HDFC Bank, Hindalco, Power Grid, Hindustan Unilever, HDFC and Asian Paints were among the losers.The overall market breadth was favorable as 2,058 shares ended greater while 1,265 closed lower on the BSE.
Details
Category: Business

Write comment (100 Comments)


Asian shares were trading in the green on Monday as record highs on Wall Street and policy easing in China assisted relax some of the current jitters on international growth ...
Details
Category: Business

Write comment (96 Comments)

India, one of the world's top agriculture producers, has received five per cent below average rainfall since June 1, when the four-month rainy season began....
Details
Category: Business

Write comment (98 Comments)


Coal imports in India went up by 20 percent to reach 19.9 million tonnes in May 2021, compared to 16.5 million tonnes which was imported in May 2020 ... Coal imports in India increased by 20 per cent in Might 2021Coal imports in India went up by 20 percent to reach 19.9 million tonnes in May 2021, compared to 16.5 million tonnes of dry fuel which was imported in the matching duration last year.According to information put together by mjunction Solutions, a joint endeavor company of Tata Steel and Steel Authority of India Limited (SAIL), coal import volumes are expected to be slow throughout the prevailing monsoon season.This, it said, would be due to slow demand and high freight rates.Coal imports had actually likewise risen by 25 per cent to 42 million tonnes during April and Might of the existing fiscal year. Throughout the matching duration in 2015, 33.6 million tonnes of coal had actually imported, the information said.Out of the overall imports in Might 2021, non-coking coal imports stood at 13.64 million tonnes, compared to 10.54 million tonnes imported throughout the matching duration of previous fiscal.Coking coal import was at 4.41 million tonnes in May 2021, against 3.18 million tonnes imported during the matching period of last year.During April-May period of the present financial, non-coking coal import stood at 28.96 million tonnes, compared to 22.82 million tonnes imported throughout the matching duration of the previous fisca.Similarly coking coal imports were 9.15 million tonnes, versus 6.41 million tonnes imported throughout the matching duration of in 2015.
Details
Category: Business

Write comment (90 Comments)


Maruti Suzuki India has actually revealed nationwide roll-out of its digital platform Maruti Suzuki Smart Finance to provide end-to-end online car funding solutions to its consumers ...
Details
Category: Business

Write comment (97 Comments)


Fuel and Diesel Rate Today in India: In the nationwide capital, fuel rates were hiked by 35 paise from Rs 100.56 per litre to Rs 100.91 per litre, according to Indian Oil Corporation ... Fuel and Diesel Rate today in Delhi, Kolkata, Chennai, Mumbai: Fuel rates were walkings todayPetrol, Diesel Rate Today: Fuel and diesel prices were hiked throughout the 4 city cities on Saturday, July 10. In the national capital, fuel rates were hiked by 35 paise from Rs 100.56 per litre to Rs 100.91 per litre, according to Indian Oil Corporation. Diesel rates were increased by 26 paise from Rs 89.62 to Rs 89.88 per litre in Delhi. In Mumbai, fuel costs neared the Rs 107-mark today as the modified rate now stands at Rs 106.93 from Rs 106.59 per litre, while diesel is being sold at Rs 97.46 per litre. (Also Check out: How To Examine Latest Gas And Diesel Rates In Your City)Currently, gas and diesel rates are the most expensive in Mumbai among the four metro cities of the country, according to the state-run oil refiner. Fuel rates vary across the states in India due to value-added tax. Fuel and diesel costs are revised daily by state-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum considering petroleum rates in the worldwide markets and rupee-dollar exchange rate. Any modifications in fuel prices are carried out with impact from 6 am every day. Meanwhile, on Friday, July 9, the rupee snapped its losing streak recovered to 74.64 versus the United States dollar, tracking weaker American currency and inflows for initial public offerings such as Clean Science and Innovation and GR Infra projects. Brent crude futures, the worldwide oil standard, rose 0.98 per cent to $ 74.85 per barrel yesterday.
Details
Category: Business

Write comment (92 Comments)

Share Market Today: Six of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Realty index's over 3 per cent gain....
Details
Category: Business

Write comment (98 Comments)


Khadi and Village Industry Commission (KVIC) has actually protected hallmark registration for trademark name Khadi in Bhutan, United Arab Emirates and Mexico ... India has actually secured hallmark registration for Khadi brand in UAE, Bhutan and MexicoIn a shot in the arm for India, Khadi and Village Market Commission (KVIC) has actually protected trademark registration for brand Khadi in Bhutan, United Arab Emirates (UAE) and Mexico.KVIC acquired the current hallmark registration in Bhutan on July 9, while the exact same was granted in UAE on June 28 this year. With this, KVIC has actually effectively secured trademark registration for the first time in a Gulf country.Till date, KVIC has actually had hallmark registrations in particular classes for the word Khadi in 5 nations particularly Germany, United Kingdom, Australia, Russia and China in addition to in European Union.Previously, KVIC had got the trademark registration for Khadi in Mexico in December 2020. In the above pointed out nations, KVIC has been approved Khadi registration in numerous classes. These classes refer to Khadi fabric, Khadi readymade garments and a plethora of town industry products like Khadi soaps, Khadi cosmetics, Khadi incense sticks to name a few.
Details
Category: Business

Write comment (98 Comments)


The insurance policy provides a wide variety of amount guaranteed choices approximately Rs. 5 crores, where customers can pick from 3 various options ...
Details
Category: Business

Write comment (90 Comments)