Depository of News

India#39;s forex reserves dip by $160 million to $635.67 billion

In the previous week ended December 10, the reserves had decreased by $77 million to $635.828 billion.

Paytm Lending CEO Bhavesh Gupta gets additional role to lead offline payments vertical

The company said it also plans to hire 30 senior leaders for product, technology and business roles across payments and financial services.

Mumbai struggling with medical infrastructure amid pandemic: Report

Mumbai First and Praja Foundation released the “Ideal Mumbai public health manifesto”, highlighting the city’s primary healthcare needs and suggested a strong public health action plan.

SEBI#39;s total income down 15% to Rs 813 crore in 2019-20

According to the annual accounts of SEBI made public on Wednesday, the total expenditure of the regulator rose to Rs 588.14 crore for the year ended on March 31, 2020, from Rs 492.34 crore in the previous fiscal.

SEBI observation letter validity period for NFOs back at 6 months

The regulator, in March 2020, had extended the validity period of observation letter issued by it for the launch of NFOs from six months to one year from the date of SEBI letter.

Appropriate public issue pricing crucial; i-bankers need to follow rules in letter, spirit: SEBI Chairman Ajay Tyagi

While urging merchant bankers to engage in wider consultations as for a proper balance between the issuers’ aspirations and investors’ interests, Ajay Tyagi also said that "needless to say, SEBI will not shy away from taking required action if it fi

HP starts manufacturing laptops, desktops in India

Powering the #39;Make in India#39; initiative of the Government of India, HP has started manufacturing multiple models of laptops, desktop towers and mini desktops at the Flex facility in Sriperumbudur near Chennai, Tamil Nadu, according to a statement.

Tata Medical develops fast-testing solution for COVID-19

The solution, Tata MD CHECK Express RT-PCR, can be applied in multiple areas where quick, high volume, and reliable testing is required, such as airports and events, the company claimed.

ABB India board okays creating arm to divest turbocharger business for Rs 310 crore

In June 2021, ABB India had informed bourses regarding its proposal to divest/sell its turbocharger business in the Process Automation business segment.

Ericsson considering base station production in Russia: Report

Russia has said it will extend telecoms operators’ licences beyond 2023 for LTE (long-term evolution) networks on the condition that they start building networks using only Russian equipment, part of a wider push by Moscow to promote domestic technology

OYO appoints Nirdosh Chouhan as Senior VP; Kranthi Mitra as Senior Principal Data Scientist

ex-Apple executive Nirdosh Chouhan, who has over 18 years of industry experience, will spearhead OYO’s Core Engineering Platform that plays a critical role in the company’s business, OYO said in a statement. raises about Rs 137 crore in funding led by Akash Bhanshali, Mohandas Pai

Quess Corp also participated in the funding round. After the funding round, is valued at close to $100 million (around Rs 755 crore).

Central Bank of India, U GRO Capital ink co-lending deal, aim Rs 1,000 crore disbursal

Under this partnership, the two entities aim to disburse up to Rs 1000 crore to U GRO Capital’s varied MSME segments under its programmes like Pratham, Sanjeevani, Saathi, GRO MSME and Machinery financing, in the next 12 months.

FMCG players expect better growth, lesser inflationary pressure in 2022

Health and wellness and convenience are going to remain key trends and FMCG companies are strengthening their core brands, driving premiumisation across their portfolios with targeted innovations as consumers are gravitating towards trusted brands looking fo

MM Finance – Does it offer value after the deep cut?

We draw comfort from the undemanding valuation as we see MM Finance among the few long-term survivors amongst NBFCs

Cryptocurrency Prices Today: Bitcoin rises 1.22% at Rs 38 lakh on December 22

Bitcoin#39;s price is currently over Rs 38 lakh at around 09.35 am, according to WazirX

No Cabinet decision on privatisation of two PSBs: FM Nirmala Sitharaman

In the Union Budget for financial year 2021-22, the government had announced its intent to take up privatisation of two PSBs in the year and approval of a policy of strategic disinvestment of public sector enterprises, Finance Minister Nirmala Sitharaman sai

SEBI drops case against Dish TV#39;s promoter

The order follows an investigation conducted by the regulator in Dish TV’s scrip between January-February 2019.

Auto component industry cautiously optimistic for growth in FY22 despite COVID woes

The turnover of the automotive component industry stood at Rs 1.96 lakh crore (USD 26.6 billion) in April-September 2021, registering a growth of 65 per cent over the first half of the previous year.

Sanofi to buy US biotech firm Amunix for $1 billion

Immuno-oncology firm Amunix is developing cancer therapies based on cytokines -- small proteins that play a role in controlling the immune system -- and T-cells, a type of white blood cell.

RBI empanells CSB Bank to undertake banking business of central, state govts

This appointment will allow CSB Bank to undertake general banking business of the central and state governments which may be entrusted by the RBI, the bank said in a statement.

Renew Power adds 300 MW; total capacity addition at 1.5 GW in FY22

The Gurugram-based company has installed a record 1.5 GW of renewable energy projects so far this fiscal year despite the pandemic challenges and supply chain disruptions and is on track to meet its goal of 8.2 GW of operational capacity by the end of 2021-22

Enforcement Directorate arrests ex-Unitech promoters Sanjay Ajay Chandra

ED said the brothers were taken into custody on Monday and have been brought to Delhi from Mumbai where they were lodged in separate jails in an alleged cheating case filed by the Delhi Police.

Honda de Mexico initiates exports of NAVi bike to US market

HMSI had commenced export of NAVI CKD kits to Mexico in July 2021 and has so far dispatched over 5,000 kits to the country.

Piramal Pharma invests Rs 101.77 crore for minority stake in Yapan Bio

The Mumbai-based company has acquired a 27.78 per cent stake in Yapan as a result of the investment.

SBI acquires minority stake in JSW Cement for Rs 100 crore

The PSU Banking behemoth has invested Rs 100 crore in the company via compulsorily convertible preference shares (CCPS), a JSW Cement statement said on Tuesday.

PM Gati Shakti plan, single window clearance to further push FDI inflows in new year

Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21.

Foxconn plant in south India to stay shut this week after protests: Govt sources

Five days of holiday have been declared at the plant, the Superintendent of Police in Kancheepuram said, following protests against food poisoning at a unit.

Piaggio Aprilia scooters to be available at over 100 Motoplex stores in south India

The southern region accounts for almost 45 per cent in Piaggio India’s overall two-wheelers sales in the country, according to the company.

Consumer durables industry: Double digit growth hopes brighten 2022 horizon despite chip shortage concerns

The industry is expecting double-digit growth on a year-on-year basis, helped by a possible price correction after softening of raw material inputs and factors such as positive sentiments, pent up demand and improving economic conditions.

Petrol, diesel prices today on December 21: Check rates in Mumbai, Delhi, other cities

The petrol and diesel prices remained unchanged in Kolkata at Rs 104.67 per litre and Rs 89.79 per litre, respectively.

RBL Bank raises Rs 5.20 crore fund via CSR initiative for inclusive education

The private sector lender-organised its 8th edition of cyclothon which had 159 cyclists pedal over 1.14 lakh km since October this year to raise the money for two schools, one each located in Hyderabad and Maharashtra, a statement said. acquires RPM Fitness, 3 other equipment brands

This is the second acquisition in the space by after the acquisition of Tread, a Bengaluru-based smart fitness-bike startup last year.

Covaxin#39;s shelf life extended to 12 months from date of manufacture

With the shelf life extension, hospitals can now utilise the stock to avoid vaccine wastage, a press release said.

Wipro to acquire Edgile for $230 million

Edgile’s experienced cybersecurity and risk management professionals will allow Wipro to further enhance its cybersecurity and risk consulting capabilities for the benefit of its customers, a regulatory filing said.

Facebook pays fines to Russia over banned content

Facebook parent Meta, along with Alphabet#39;s Google, faces a court case next week for suspected repeated violations of Russian legislation on content and could be fined a percentage of its annual revenue in Russia.

Ixigo, Sahajanand Medical Technologies, Keventer Agro get SEBI#39;s go-ahead to float IPOs

These three companies, which filed their preliminary IPO papers with SEBI between August and September, obtained observation letter from the regulator during December 16-17, an update with the markets watchdog showed on Monday.

Ixigo, Keventer Agro, Sahajanand Medical get SEBI nod for IPOs

Le Travenues Technology, Keventer Agro and Sahajanand Medical had filed their IPO papers on August 13, August 10 and September 29, respectively

Nearly 50,000 MSMEs down shutters seeking reduction of raw material prices

The one day closure resulted in the production loss of around Rs 1,500 crore as the industries manufacture all types of spare parts for two-wheelers to six-wheelers, motor and pumps, defence and naval sectors, wet grinders, foundries and plastic industries, i
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