New Delhi, June 29 (IANS) State-owned Bharat Petroleum Corporation Ltd (BPCL) on Monday announced that it will acquire a 40 per cent stake in Tiki Tar and Shell India Pvt Ltd (TTSIPL) for Rs 85 crore to strengthen its presence in the rapidly growing value-added bitumen (VAB) market.The strategic investment is aimed at accelerating BPCL’s expansion in India’s infrastructure sector, where demand for specialised bitumen products is expected to grow alongside road and airport construction, the PSU f…
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New Delhi, June 29 (IANS) Shares of solar module maker Waaree Energies fell more than 5 per cent on Monday after the company issued a clarification on reports of a US Customs probe into its exports.The company’s shares declined as much as 5.25 per cent to an intraday low of Rs 2,851.50 on the BSE at around 12:30 pm.In its clarification, the company said media reports had been “misread and overdone” and that the matter did not pose a material risk to its business.It said the core allegation had n…
New Delhi, June 29 (IANS) Former HDFC Bank Chairman Atanu Chakraborty has described the legal review of his resignation as being caveated and superfluous, saying it focused largely on compliance issues instead of the broader concerns he had raised about certain business practices at the bank, according to a report.NDTV Profit reported that the external legal firms appointed by HDFC Bank — Wadia Gandhy and Wilson Soni — reviewed Chakraborty’s resignation statement by relying largely on select e…
Mumbai, June 26 (IANS) Indian stock exchanges — the National Stock Exchange (NSE) and the BSE — remained closed on Friday on account of Muharram, with trading suspended across all equity market segments, including equity derivatives, currency derivatives, securities lending and borrowing (SLB).Meanwhile, in the commodity segment, the Multi Commodity Exchange (MCX) remained closed during the morning session from 9 am to 5 pm.Trading on the commodity exchange will resume in the evening session f…
New Delhi, June 24 (IANS) Retail shareholders have until Wednesday to buy Life Insurance Corporation of India (LIC) shares to qualify for the insurer’s dividend payout, with June 25 fixed as the record date.State-owned LIC has announced a final dividend of Rs 10 per equity share, as per an exchange filing from the company.Under India’s T+1 settlement cycle, shares must be purchased by June 24 to be reflected in the investor’s account on the record date.The insurer had reported a 23.2 per cen…
New Delhi, June 12 (IANS) Tata Motors Passenger Vehicles (TMPV) on Friday announced an increase of up to 1.5 per cent in prices across its passenger vehicle portfolio, including internal combustion engine (ICE) and electric vehicle (EV) models, effective July 1.The company announced the price revision through a filing on the exchanges.According to the company, the increase is aimed at partially offsetting the impact of rising input costs and continued inflationary pressures.TMPV said it continue…
Mumbai, June 8 (IANS) Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Monday declined to comment on the regulator’s action against Rajesh Exports, saying the matter forms part of a quasi-judicial process and should be addressed through legal procedures.“As a matter of principle, we do not comment on individual cases in the media. This is, in fact, a quasi-judicial process in which orders are issued, and they must be complied with or challenged through the procedu…
New Delhi, June 5 (IANS) Shares of Rajesh Exports tumbled 5 per cent for the second straight session on Friday, hitting lower circuit limits after capital markets regulator Securities and Exchange Board of India (SEBI) barred the company’s promoter and CEO, Rajesh Mehta from dealing in the company’s securities over alleged financial irregularities.The stock declined as much as 4.99 per cent to hit the lower circuit limit at Rs 98.73 on the NSE, while on the BSE it declined 4.97 per cent to R…
Mumbai, June 4 (IANS) BSE Index Services, a wholly owned subsidiary of BSE, on Thursday announced the launch of a new benchmark index — the BSE India 5-Year Sovereign Bond Index — aimed at tracking the performance of India’s benchmark five-year government securities.The newly launched benchmark has a base value of 100 and a first value date of April 27, 2018. It will be reconstituted on a monthly basis, according to the company.The launch is expected to expand passive investment opportunitie…
New Delhi, June 4 (IANS) Ola Consumer (formerly known as Ola Cabs) has suffered a sharp valuation cut after funds managed by US investment giant Vanguard Group reduced the fair value of its parent company — ANI Technologies — to just $70 million, as per multiple reports.Reports said that the markdown — based on the firm’s latest filing with the US Securities and Exchange Commission (SEC) — indicated a decline of nearly 99 per cent from the company’s peak valuation of $7.3 billion.The lates…