Punjab National Bank raises Rs 5,000 crore via QIP route
New Delhi/IBNS: Leading public sector lender Punjab National Bank (PNB) announced on Friday (Sept. 27) that it has raised Rs 5,000 crore through a Qualified Institutional Placement (QIP).
Finance
India topped global IPO market with 227 transactions in first eight months of 2024, says top analytics company
India topped the global IPO market, with 227 transactions totaling $12.2 billion in the first eight months of 2024, as per data shared by Global Data.
India must do more to boost manufacturing and job creation: Raghuram Rajan
Mumbai: India has made significant progress in infrastructure over the past decade, but more needs to be done in other sectors to enhance local manufacturing and job creation, former RBI Governor Raghuram Rajan said on Thursday.
UBS eyes Indian wealth management expansion with 360 One WAM joint venture: Report
Mumbai: UBS is in discussions to establish an Indian wealth management joint venture with Mumbai-based 360 One WAM, Reuters reported.
India will not buy from West-sanctioned Russia's Arctic LNG 2 project, says Oil secretary Pankaj Jain
New Delhi: India will not purchase liquefied natural gas (LNG) from Russia's Arctic LNG 2 project, which is under Western sanctions, Reuters reported, citing Oil Secretary Pankaj Jain, who confirmed the development on Friday.
GQG Partners settles SEC whistleblower protection charges for $500,000
GQG Partners, the asset management firm founded by Rajiv Jain, has agreed to pay $500,000 to resolve allegations brought by the US Securities and Exchange Commission (SEC) regarding violations of whistleblower protection rules, media reports said.
Vedanta shares surge 3% to hit record high, up 100% in CY24
Mumbai/IBNS: Shares of mining giant Vedanta continued their impressive rally on Friday (Sept. 27), marking gains for the fifth consecutive trading session.
Gold prices rise ahead of US inflation prints
Mumbai/IBNS: Gold prices rose slightly in the domestic futures market on Friday (Sept. 27) morning, following positive global trends as investors awaited the release of the US core personal consumption expenditures (PCE) price index data later in the day, reports said.
Intel and US set to finalize $8.5 billion chip funding deal by 2024 end: Report
California/IBNS: Intel and the US government are expected to finalize $8.5 billion in direct funding for the chipmaker by the end of the year, the Financial Times reported, citing sources familiar with the matter.
Tata Power shares hit new record high following Morgan Stanley upgrade
Mumbai/IBNS: Shares of Tata Power Company surged to a new all-time high of Rs 494.85 on the NSE after Morgan Stanley upgraded its rating on the stock from 'underweight' to 'overweight.'
SpiceJet shares rise as airline clears GST dues and salaries after raising Rs 3,000 crore via QIP
Mumbai/IBNS: Shares of budget airline SpiceJet surged on Friday (Sept. 27) following the announcement that the low-cost carrier has cleared its Goods and Services Tax (GST) dues amounting to approximately Rs 71 crore.
Star Health sues Telegram and hacker over data leak
Star Health Insurance has filed a lawsuit against the social media platform Telegram and a hacker after discovering that sensitive company data was being leaked through the messaging app.
Govt to raise Rs 6.61 lakh cr via market borrowings in H2 FY 2024-25
New Delhi: The Central government, in collaboration with the Reserve Bank of India (RBI), announced on Thursday its plan to raise Rs 6.61 lakh crore through market borrowings during the October-March period of the current financial year 2024-25.
ChatGPT maker OpenAI to remove non-profit board's control; Sam Altman to get equity stake: Report
San Francisco: ChatGPT creator OpenAI is planning to restructure its core business into a for-profit benefit corporation, which would no longer be under the control of its non-profit board, Reuters reported.
IFSCA likely to release guidelines for listing CPs, CDs in GIFT City in 3 weeks: Report
Ahmedabad/IBNS: The International Financial Services Centres Authority (IFSCA) is expected to introduce regulations for listing commercial papers (CPs) and certificates of deposit (CDs) on the GIFT City exchange within the next three weeks, Moneycontrol reported, citing its sources.
Macquarie explains why HDFC Bank's loan growth may slow down to below 10% in Q2
Mumbai/IBNS: Australian multinational brokerage firm Macquarie has indicated that HDFC Bank, India’s largest private lender, could see its loan growth dip below 10 percent year-on-year (YoY).
Gold prices linger near all-time high
Mumbai/IBNS: Ahead of US Federal Reserve chair Jerome Powell's upcoming speech, gold prices remained steady on Thursday (Sept. 26) but hovered near record highs.
OpenAI CTO Mira Murati, 2 other research executives resign
California/IBNS: American artificial intelligence (AI) research company OpenAI's Chief Technology Officer (CTO), Mira Murati, announced her departure from the Microsoft-backed company on the social platform X (formerly Twitter), stating that she intends to "create time and space" for personal exploration.
Govt health expenditure rises to 1.84% of GDP
New Delhi: The share of government health expenditure in India’s GDP has risen from 1.13% in 2014-15 to 1.84% in 2021-22, according to the National Health Account (NHA) estimates for 2020-21 and 2021-22, released on Wednesday.
NSE valuation doubles to $36 billion amid IPO speculation: Report
Mumbai: The National Stock Exchange of India (NSE) has seen its valuation in the private markets double to $36 billion in just four months, driven by investor optimism about a potential initial public offering (IPO) as early as the first quarter of next year, Bloomberg reported.
Mobile manufacturing investment under PLI scheme exceeds targets, says IT Secretary
New Delhi: Investment and production in mobile phone manufacturing under the Production Linked Incentive (PLI) scheme have significantly surpassed expectations, according to Electronics and IT Secretary S. Krishnan, media reports said.
Supreme Court slams NCLAT for closing Byju's insolvency case after settlement with BCCI
New Delhi: The Supreme Court on Wednesday raised concerns over the National Company Law Appellate Tribunal’s (NCLAT) decision to close insolvency proceedings against ed-tech giant Byju’s following its approval of a Rs 158.9 crore settlement with the Board of Control for Cricket in India (BCCI), according to a media report.
Sitharaman urges AIIB to focus on client-centric approach, support low-income countries
New Delhi: Finance Minister Nirmala Sitharaman on Wednesday called on the Asian Infrastructure Investment Bank (AIIB) to maintain a client-centric approach and assist member countries, particularly low-income nations, in accessing financial resources through technical assistance, media reports said.
Bharti Airtel launches AI-based solution to detect spam calls and messages
Mumbai: Bharti Airtel announced on Wednesday a new AI-powered network solution designed to detect spam calls and messages for its customers.
Centre extends import management system for laptops, IT hardware till Dec 31
New Delhi: The central government has extended the import management system for laptops and other IT hardware products by three months, now effective until December 31, 2024.
Foxconn planning to invest $1 billion in Tamil Nadu for smartphone display assembly facility supporting Apple: Report
Chennai/IBNS: Foxconn is planning a $1 billion investment to establish a facility in Tamil Nadu for assembling smartphone display modules, according to a report by The Economic Times.
Tata Motors unveils Nexon iCNG and Nexon.ev 45 kWh
Mumbai/IBNS: India's leading automaker Tata Motors on Tuesday (Sept. 24) announced the launch of the Nexon iCNG, and additions to the Nexon.ev range with a new 45 kWh battery pack and the flagship Red Hot #DARK edition.
Asian Development Bank retains India's 2024-25 growth forecast at 7%
New Delhi/IBNS: The Asian Development Bank (ADB) has retained India's growth forecast at 7 percent for the current fiscal year (FY25), with expectations of an accelerated growth rate of 7.2 percent in FY26, according to a report released on Wednesday (Sept. 25).
Hyundai Motor India IPO gets SEBI approval, share sale likely in October: Report
Mumbai/IBNS: Hyundai Motor India, a wholly-owned subsidiary of the South Korean-headquartered Hyundai Motor Company, has reportedly received approval from the Indian regulatory body for securities and commodity market, the Securities and Exchange Board of India (SEBI), to proceed with its initial public offering (IPO), reports said.
India all set to rank among the fastest-growing economies until 2030, says Goldman Sachs
New Delhi/IBNS: India is on track to be one of the fastest-growing economies in the medium term, according to a recent report by international brokerage firm Goldman Sachs.