Reliance to demerge fin services arm and list Jio Financial Services on exchanges, RIL shareholders to get 1:1 shares

share price on the screen

On Friday 21 October, Reliance Industries Limited (RIL) announced that it would soon demerge its financial services business to form a new company Jio financial services limited (JFSL). Reliance Strategic Investments Limited (RSIL) is a wholly-owned subsidiary of Reliance Industries Limited (RIL) which currently carries out its business of providing loans to merchants and consumers. … Read more

LIC raises stake in Dr Reddy’s Laboratories to over 7.6% by buying another 33.86 lakh equity shares

share price on the screen

Today the share price of Dr Reddy’s Laboratories Ltd rose by 1.92% to Rs 4419 as LIC increased its stake in the company. LIC (Life Insurance Corporation of India) has purchased 3,386,486 shares in Dr Reddy’s Laboratories Limited through open market purchase at an average price of Rs 4289.29, the company said on Monday, October … Read more

Federal Bank Q2 FY23: Gross Advances grew 19.4% YoY to Rs 163956 cr, CASA deposits rise to Rs 68873 cr

share price on the screen

The share price of Federal Bank rose by 5.62% to Rs 119.35 today as the bank announced its FY23 Quarter 2 Result. Federal Bank Gross Advances grew by 19.4% year-on-year to Rs.163956 crore in Quarter 2 (i.e. July 2022- September 2022) of FY23 as compared to Rs.137313 crore in the same period last year. Gross … Read more

India expects FDI of $100 billion in the current fiscal after $83.6 billion in FY21-22: Govt

Indian rupee notes

India’s domestic economic recovery in FY 2021-22 boosted import demand while India’s external sector remained resilient and safe-haven demand for gold expanded the trade deficit from October 2021 to March 2022 time period. But strong capital inflows, dominated by strong exports and foreign direct investment (FDI), eased the pressure on the current account balance. In … Read more

PM Narendra Modi to launch 5G services in India on October 1 at India Mobile Congress 2022 event, 5G service in 13 cities in 1st phase

5G is written in a blue circle on the Indian flag in the background of the phone

In Budget 2022, Indian Finance Minister Nirmala Sitharaman had said that 5G in 2022 and BharatNet broadband will be ready by 2025. Apart from this, Indian Prime Minister Narendra Modi, while addressing the nation on the 75th Independence Day, had said that 5G services are going to start in India soon. Prime Minister Narendra Modi … Read more

NDTV’s Radhika and Prannoy Roy filed civil appeal in Supreme Court against SAT order

NDTV is written in a yellow circle on a green color in the background of the phone

On Tuesday, September 20 NDTV (New Delhi Television Limited) said in a regulatory filing that founders Radhika Roy and Prannoy Roy and their investment company RRPR Holding Pvt Ltd have moved the Supreme Court against the July 2022 order of the Securities Appellate Tribunal (SAT). The Securities Appellate Tribunal (SAT), in its order dated July … Read more

OYO files addendum to DRHP for its IPO with SEBI along with latest financial results

The logo of OYO, India's largest hotel chain, is seen installed on a hotel building in Jaipur

On Monday 19 September, OYO filed an addendum to the Draft Red Herring Prospectus (DRHP) filed earlier for its initial public offering (IPO) in October 2021 with the Securities and Exchange Board of India (SEBI). OYO (formally Oravel Stays Limited) disclosed its latest financials in the IPO filing addendum in which OYO’s revenue stood at … Read more

Vedanta and Foxconn to set up semiconductor and display fab units in Gujarat with investment of Rs 1.54 trillion, MoU signed

Semiconductor chips are seen on a circuit board of a computer in this picture

On Tuesday 13 September, the joint venture between Vedanta and Taiwan base Foxconn Group announced that it will open a new semiconductor and chip manufacturing plant in Gujarat. Vedanta is the third company to announce a chip plant in India. Earlier Singapore-based IGSS Ventures signed an MoU (Memorandum of understanding) with the Tamil Nadu state … Read more

India cross 10 crore Demat accounts in August 2022, 60% new Demat accounts opened in 29 months

Statistics of Demat Accounts in 2022

Indian stock market touched a significant milestone of 10 crore Demat accounts in August 2022. A total of 22 lakh new Demat accounts were opened in the month of August. Now the total Demat account in India is 10,05,10,862 crores which is a new record for the Indian stock market. According to the National Securities … Read more

NTPC produced 7.36 MMT of coal during April to August of FY 2022-23 with YOY growth of 62%

A truck is carrying coal from a coal mine in the Indian state of Jharkhand

NTPC Limited is an Indian Public Sector Undertaking that is India‘s largest integrated power company with an installed capacity of 70,064 MW. NTPC Limited has produced 7.36 MMT of coal during the period April 2022 to August 2022 which is an increase of 62% year-on-year as compared to 4.55 MMT produced during the corresponding period … Read more

Adani Group acquires 29.18% stake in NDTV and Open offer for additional acquisition of 26%

Indian billionaire Gautam Adani addresses delegates during the Business Summit in Kolkata

Indian billionaire Adani Group has acquired a 29.18% stake in media company NDTV (New Delhi Television Limited), but Adani owns this stake indirectly in NDTV. NDTV is one of India’s leading news channels which operates many national channels like NDTV India, NDTV 24×7 and the company also runs an online news website. In 2009 NDTV … Read more

India gifts Dornier aircraft to Sri Lanka during a ceremony in Colombo

Indian Dornier aircraft flying in the sky during training

On Monday 15 August 2022, India gifted a Dornier-228 aircraft to strengthen Sri Lanka‘s maritime security. The Indian Air Force and Indian officials handed over the Dornier-228 Maritime Surveillance Reconnaissance Aircraft to the Sri Lankan Air Force base at Katunayake during a ceremony. Katunayake is a suburb of the city of Negombo in Sri Lanka, … Read more

Malaysia to buy 18 LCA Tejas aircraft from India, 6 other countries showed interest: Govt

Light Combat Aircraft (LCA) Tejas jet flying in the sky during training in India

On Friday, 5 August 2022, in the Monsoon Session, Minister of State for Defense Ajay Bhatt said in response to a question in the Lok Sabha that Malaysia shortlisted 18 LCA (Light Combat Aircraft) Tejas jets from India and Argentina, Indonesia, Australia, America, Egypt, and the Philippines have shown interest. In March 2019, India’s indigenous … Read more

Mahindra & Mahindra Ltd Launches the All-New Scorpio-N

Mahindra & Mahindra Limited's all-new Scorpio-N parked on the road

On 20 May 2022 Mahindra & Mahindra Limited announced that they will launch the all-new ‘Scorpio-N’ brand new of the much-awaited SUV segment. The all-new ‘Scorpio-N’ comes with automatic and manual transmission and is powered by diesel and petrol engines with prices starting at Rs 11.99 lakhs. The company said that their new SUV Scorpio-N … Read more

Fare cap on domestic airlines to be removed from August 31: Civil Aviation

Airplane at Jaipur airport

India’s civil aviation ministry has announced that from August 31 2022 all fare caps on domestic airlines will be removed. The Indian government on 21 May 2020 had set minimum and maximum price bands for airfares based on flight duration during the coronavirus pandemic to control fares. Aviation Minister Jyotiraditya Scindia said that due to … Read more

International trade settlement in Indian Rupees via Special Rupee Vostro account

Indian rupee notes

On Monday 11 July 2022, the Reserve Bank of India (RBI) announced that the settlement of international trade can be done in Indian Rupees (INR) in order to boost the growth of global trade and to emphasize exports from India. And this additional arrangement has been made for invoicing, payment, and settlement of imports and … Read more

India’s RuPay cards and UPI to be accepted in France, NPCI and Lyra Network Signed MoU

Debit Card: India's RuPay cards and UPI to be accepted in France

On Thursday 16 June 2022, the National Payment Corporation of India (NPCI) announced that NPCI International has signed a Memorandum of Understanding (MoU) with France-based payment solutions provider Lyra Network to accept RuPay cards and UPI payments in France. RuPay cards and UPI (Unified Payments Interface) services will be available in France soon. France and … Read more

US inflation hits 40 year high at 8.6%, Indian Rupee hits all time low of 78.22 against USD

Stock Price: US inflation hits 40 year high at 8.6%, Indian Rupee hits all time low of 78.22 against USD

Today the Indian Stock Market Index Nifty fell by 2.89% to 15732.10 and Sensex fell by 2.96% to 33311.55. In intraday trading, the Indian rupee closed at an all-time low of 78.22 due to the rise in the price of crude oil and the rise in the dollar. Globally, central banks are continuously increasing their … Read more