Benchmark stock indices hit their record high levels in intra-day trade on Thursday, with Sensex breaching the historic 66,000-mark for the first time following a rally in global markets amid moderating US inflation data. Buying in market heavyweight stocks Infosys, ICICI Bank and Tata Consultancy Services also helped markets settle in the positive territory. The 30-share BSE Sensex jumped 670.31...
Business
SpiceJet to get Rs 500 crore from promoter Ajay Singh
SpiceJet on Wednesday said its promoter and Chairman Ajay Singh will infuse Rs 500 crore into the airline, which will help boost its financial position as well as tap additional funds from a government scheme. The budget carrier, which is facing multiple headwinds, including disputes with aircraft lessors, has been looking to raise funds. In a statement, SpiceJet said the...
CarTrade Tech acquire OLX India’s auto business for Rs 537 cr
Mumbai-based used cars platform CarTrade Tech Ltd on Monday said it will acquire online marketplace OLX India’s auto sales business for Rs 537 crore. In a stock exchange filing on Monday, CarTrade said that it will acquire 100% stake in Sobek Auto India Pvt Ltd, the entity that houses OLX India’s automotive business, in an all-cash deal, and the acquisition will likely to...
Tata Motors group global sales in Q1 rise 5%
Tata Motors reported a 5 per cent increase in its group global wholesales, including Jaguar Land Rover, at 3,22,159 units in the first quarter ended June 30, 2023, as compared to the year-ago period. Global wholesales of Tata Motors passenger vehicles in the April-June quarter of FY2023-24 were at 1,40,450 units, up 8 per cent as compared to Q1 FY23, the...
Reliance Industries shares hit seven-month high
Shares of Reliance Industries Ltd (RIL) are trading at a seven-month high, boosted by a recovery rally in the last three months. RIL stock closed at Rs 2,649 on December 8 compared to the current level of Rs 2638.35 on BSE. The stock of Mukesh Ambani-led conglomerate has zoomed 12.70% in three months, taking it close to the 52-week high of Rs...
Harley-Davidson X440 launched in India at Rs 2.29 lakh onwards
The much-awaited Harley-Davidson X440 has been officially launched in India, priced at rs 2.29 lakh onwards, ex-showroom. The Harley-Davidson X440 is available in three variants, Denim, Vivid, and S, the latter two priced at Rs 2.49 lakh and Rs 2.69 lakh, ex-showroom. The Harley X440 is the first product to roll out from the Hero-Harley collaboration and the motorcycle was...
India’s oil imports from Russia climb to new peak
India’s imports of Russian oil hit another record last month as the South Asian nation potentially nears the limit of its buying splurge from the major OPEC+ producer. Daily volumes climbed to 2.2 million barrels a day in June, rising for a 10th month, according to Viktor Katona, the head of crude analysis at Kpler. Russian purchases again exceeded the...
Apple’s market value breaches $3 trillion mark again
Apple Inc’s market capitalization on Friday breached the $3 trillion mark for the first time since January last year, as investors bet on the iPhone maker’s ability to grow revenue even as it explores new markets such as virtual reality. Shares of Apple, which is also the world’s most valuable- listed company, were up 1.3% at $191.99 in morning trading....
Swiss Bank UBS To Cut 35,000 Jobs After Credit Suisse Rescue
Geneva: Swiss banking group UBS plans to cut 35,000 jobs at Credit Suisse — more than half its workforce — as part of the emergency rescue takeover of its rival in March, according to a report by Bloomberg News on Tuesday. Credit Suisse had a staff of around 45,000 before it nearly collapsed on investor fears about its solvency, which prompted...
Gold, silver Precious metals record hike on MCX
Both gold and silver prices have recorded a hike on the MultiCommodity Exchange (MCX) on Monday, June 26.Gold futures, maturing on August 4, 2023, stood at Rs 58,481 per 10 grams on the MCX, afterrecording a marginal hike of Rs 174 or 0.30 percent.Similarly, silver futures, maturing on July 5, 2023, also witnessed a jump of Rs 895 or 1.30percent...
Power Tariff hiked by 10% in Delhi
Delhi power tariff hike: Delhi Electricity Regulatory Commission (DERC) has approved the demand of BSES Yamuna and BSES Rajdhani following which the Power Purchase Adjustment Cost (PPAC) has been increased in the national capital. Apart from North Delhi where TDPL supplies electricity in the name of PPAC, the power tariff will become costlier for the rest of Delhi. The tariff has...
Big relief for Go First as lenders approve Rs 400 crore interim funding
In a major relief for cash-strapped GoFirst, the airline’s lenders have approved an interim funding of around Rs 400 crore, Moneycontrol reported on Sunday. Last month, GoFirst filed for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT). The beleaguered airline cancelled its flights and was looking for funding to start its domestic operations. Now, the Committee of Creditors...