Business

Equity indices trade flat, Zee Entertainment up 20 pc
Business

Equity indices trade flat, Zee Entertainment up 20 pc

Mumbai (Maharashtra) [India], September 22 (ANI): Equity indices were flat during early hours on Wednesday as traders navigated cautiously while assessing the impact of struggling Chinese developer Evergrande Group on India.At 10:15 am, the BSE S&P Sensex was up by 143 points or 0.24 per cent at 59,148 while the Nifty 50 gained by 43 points or 0.24 per cent to 17,605. Sectoral indices were mixed with Nifty media advancing by 9.4 per cent and realty by 1.5 per cent. But Nifty financial service and private bank were in the red. Among stocks, Zee Entertainment jumped 20 per cent to Rs 306.75 per share after the merger deal with Sony Pictures India. The other prominent gainers were Tata Motors, IndusInd Bank, NTPC, Bharat Petroleum Corporation and Tech Mahindra. However, Nestle India, Hind...
Equity indices flat, SBI Life down 3.7 pc
Business

Equity indices flat, SBI Life down 3.7 pc

Mumbai (Maharashtra) [India], September 9 (ANI): Auto and financial stocks were under pressure during early hours on Thursday, edging equity benchmark indices into the negative terrain.At 10:15 am, the BSE S&P Sensex was down by 64 points or 0.11 per cent at 58,186 while the Nifty 50 dipped by 22 points or 0.13 per cent to 17,331. Many sectoral indices were in the red with Nifty realty down by 1 per cent, pharma by 0.42 per cent and financial service by 0.2 per cent. But Nifty FMCG and metal rose marginally. Among stocks, SBI Life lost by 3.7 per cent to Rs 1,174.05 per share while Eicher Motors was down by 0.6 per cent and Bajaj Auto by 0.5 per cent. Wipro lost by 0.8 per cent, Tech Mahindra by 0.7 per cent, Cipla by 0.6 per cent and Reliance Industries by 0.4 per cent. However, Tata ...
Sensex above 58,000K, RIL gains 2.8 pc
Business

Sensex above 58,000K, RIL gains 2.8 pc

Mumbai (Maharashtra) [India], September 6 (ANI): Equity benchmark indices extended their bull run during early hours on Monday with auto stocks leading the rally.At 10:15 am, the BSE S&P Sensex was up by 253 points or 0.44 per cent at 58,383 while the Nifty 50 rose by 67 points or 0.39 per cent to 17,391. Sectoral indices were mixed with Nifty auto and realty up by 0.6 per cent. But Nifty financial service, metal and pharma were in the negative zone. Among stocks, Reliance Industries moved up by 2.8 per cent to Rs 2,456.90 per share while Grasim rose by 2.9 per cent. The other major gainers were Bajaj Auto, Eicher Motors, Hero MotoCorp, Maruti Suzuki, Tata Motors. But Tata Steel, JSW Steel, IndianOil Corporation, Power Grid Corporation and Asian Paints traded with a negative bias. Mean...
Equity indices in red, RIL slips 2.2 pc
Business

Equity indices in red, RIL slips 2.2 pc

Mumbai (Maharashtra) [India], September 13 (ANI): Equity benchmark indices wobbled in the negative terrain during early hours on Monday with banking stocks under selling pressure.At 10:15 am, the BSE S&P Sensex was down by 345 points or 0.59 per cent at 57,960 while the Nifty 50 dipped by 97 points or 0.56 per cent to 17,273. Many sectoral indices were in the red with Nifty private bank down by 0.5 per cent, PSU bank and pharma by 0.3 per cent each and financial service by 0.2 per cent. But Nifty metal rose by 0.6 per cent. Among stocks, index heavyweight Reliance Industries lost by 2.2 per cent to Rs 2,371.90 per share as subsidiary Jio delayed the launch of ultra low-cost smartphone. IT majors HCL Technologies and Infosys were down by 0.6 per cent. ICICI Bank was down by 1 per cent, ...
RBI imposes Rs 25 lakh penalty on Axis Bank
Business

RBI imposes Rs 25 lakh penalty on Axis Bank

Mumbai (Maharashtra) [India], September 2 (ANI): The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 25 lakh on private sector lender Axis Bank for non-compliance with certain provisions of Know Your Customer (KYC) norms.A scrutiny was carried out by RBI in February and March 2020 in a customer account. It was observed that the bank had failed to carry out on-going due diligence that the transactions were consistent with its knowledge about the customer, customer's business and risk profile. A notice was issued to the bank advising it to show cause why penalty should not be imposed on it for contravention of the directions. After considering the bank's reply and oral submissions, the RBI came to the conclusion that the charge of contravention of/non-compliance with its dir...
Bajaj Group appoints Neeraj Jha as Group President and Chief Communications Officer
Business

Bajaj Group appoints Neeraj Jha as Group President and Chief Communications Officer

Mumbai (Maharashtra) [India], September 2 (ANI/NewsVoir): Bajaj Group has appointed Neeraj Jha as Group President & Chief Communications Officer with effect from September 1, 2021. He will report to Kushagra Bajaj, Chairman, Bajaj Group and will be based at the Group's Head Quarters at Bajaj Bhawan, Mumbai.In his new role, Neeraj will be responsible chiefly for the following: Group's Brand Reputation and Image, matters pertaining to them Advising Chairman and Senior Leadership of the Group (SLG) on all matters pertaining to Reputation, Media and Communication Providing communications support to Group Companies and advising their Senior Leadership Team (SLT) on all matters pertaining to Reputation, Media, and Communication "I have long believed communication can play a crucial role in b...
Bharti’s equity issuance to support deleveraging, fund 5G capex: Fitch
Business

Bharti’s equity issuance to support deleveraging, fund 5G capex: Fitch

Singapore, September 1 (ANI): Bharti Airtel Ltd's planned USD2.8 billion equity issuance will improve its funds from operations (FFO) net leverage to around 2x and provide funds to strengthen its market position, according to Fitch Ratings.Bharti will raise equity in three tranches, a quarter of the proceeds to be received upfront and the balance in two installments within three years. Fitch said the company's management remains committed to an investment-grade rating. The company raised about USD9 billion in financial year ended March 2020 (FY20) and FY21 via equity issuance, selling a stake in subsidiary Airtel Africa Plc and the sale-and-leaseback of towers in Africa. The management aspires to achieve a debt/EBITDA ratio of around 2x in the long term. Fitch forecast Bharti's capex to in...
Social worker Niket Patel gets Rajiv Gandhi Global Excellence Award
Business

Social worker Niket Patel gets Rajiv Gandhi Global Excellence Award

New Delhi [India], August 31 (ANI/PNN): Rajiv Gandhi Global Foundation has honoured Congress leader, All India Congress Committee member and social activist Niket Sunilbhai Patel with the "Rajiv Gandhi Global Excellence" award for his social service.A grand awards and conclave show was held by the esteemed Foundation at The Park Hotel in New Delhi on August 20. The show recognised the extraordinary achievements of many people in their respective fields. The event witnessed the presence of many politicians, celebrities, journalists and many other renowned personalities. The award was given by popular TV actors Karanveer Bahora and Aman Verma. A total of 20 people from all over India like actor Naseer Abdullah, runner Budhiya Singh, Sandeep Marwah, cricketer Atul Vasan, Krishna Guru Maa and ...
IDF’ India Diversity Job Fair 2021 provides a significant boost to Corporate India’s Diversity Hiring
Business

IDF’ India Diversity Job Fair 2021 provides a significant boost to Corporate India’s Diversity Hiring

New Delhi [India], August 31 (ANI/SRV Media): India, 31st August 2021: Zee Entertainment Enterprises Ltd. presents India Diversity Job Fair 2021 (IDJF2021), a mega diversity job fair aimed at boosting corporate India's diversity hiring successfully concluded on the 28th of August.IDJF 2021 with 30 Diversity Hiring Partners and with more than 350 vacancies listed received more than 5000 registrations. With the theme Equal Opportunity For All this virtual job fair witnessed more than 2500 candidates participate over the course of two days. IDJF2021 also had more than 15 renowned business and HR leaders deliberate on the various aspects of diversity hiring in the IDJF Summit that ran concurrently on the first day of the job fair. Priyaranjan Jha, Managing Director, PepsiCo Hyderabad delivered...
Arvind Fashions stock up 8 pc after raising Rs 439 crore from marquee investors
Business

Arvind Fashions stock up 8 pc after raising Rs 439 crore from marquee investors

Bengaluru (Karnataka) [India], Aug 23 (ANI): The board of directors at Arvind Fashions Ltd has approved preferential allotment of equity shares aggregating to Rs 439 crore to various marquee investors including promoters at a price of Rs 218.50.The marquee investors who participated in the fund raise are Akash Bhanshali, existing shareholders including ICICI Prudential Mutual Fund, various foreign institutional investors (including University of Notre Dame Du Lac, GP Emerging Markets Strategies LP, The Ram Fund LP, Ashish Dhawan and other investors. Aura Merchandise Pvt Ltd, a promoter entity, also participated in the preferential issue for an amount of Rs 40 crore. With this fund raise, the company completes capital requirement needed for growth and navigating any uncertainties. With focu...