Go Digit General Insurance Ltd. launched its three-day initial public offering on Wednesday to raise over Rs 2,600 crore. The Virat Kohli-backed startup’s IPO consists of a fresh issue of equity shares of face value of Rs 10 each, aggregating up to Rs 1,125 crore. The offer-for-sale portion is worth Rs 1,489.6 crore at the … Read more
Power Finance Corp., Mankind Pharma Ltd. and Jindal Stainless Ltd. will be among the major firms to report their fourth-quarter earnings on Wednesday. Mankind Pharma is expected to post a top line and bottom line print of Rs 2,437.70 crore and Rs 384.0 crore, respectively, for the three months through March, according to analysts’ estimates … Read more
The Brihanmumbai Municipal Corporation on Tuesday appointed an expert from the city-based Veermata Jijabai Technological Institute to find the reasons behind the hoarding collapse in Ghatkopar that claimed 14 lives. As per a preliminary observation, ‘foundation failure’ could be the reason for the collapse of the 120 x 120 feet hoarding erected on a piece … Read more
Overseas investors remained net sellers of Indian equities for the ninth consecutive session on Tuesday. Foreign portfolio investors offloaded stocks worth Rs 4,065.5 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors stayed net buyers for 16 straight sessions and mopped up equities worth Rs 3,527.9 crore, the NSE data showed. … Read more
Employees Want AI, And Won’t Wait For Companies To Catch Up Seventy-five percent of knowledge workers now use AI at work. Employees said AI saves time, boosts creativity and allows them to focus on their most important work. But although 79% of leaders agreed AI adoption is critical to remain competitive, 59% worry about quantifying … Read more
The consolidation in the stock markets might not be enough for the small and mid-caps due to their high valuation, according to Harsha Upadhyaya, chief investment officer-equity of Kotak Mahindra AMC. The markets have been range-bound and in a consolidation phase over the last four to five months. The valuations in the small and mid-caps … Read more
Gujarat Titans’ hopes of qualifying for the Indian Premier League play-offs was dashed on Monday as rain washed out their must-win match against Kolkata Knight Riders here without a ball being bowled. It meant KKR were assured of a top two finish with 19 points from 13 games and a place in the Qualifier 1. … Read more
The payments unit of foodtech major Zomato Ltd. will voluntarily surrender the licence it obtained from the Reserve Bank of India to operate as an online payment aggregator, citing lack of competitive advantage. Zomato Payment Pvt. will surrender the certificate of authorisation issued by the RBI and withdraw the application dated Nov. 11, 2021, to … Read more
Homegrown navigation firm CE Info Systems, the owner of MapmyIndia, posted a 35.11% jump in consolidated net profit to Rs 38.25 crore in the March quarter. The company had registered a profit after tax of Rs 28.31 crore in the same period a year ago.
Shares of Indian oil marketing companies like Indian Oil Corporation Ltd., Hindustan Petroleum Corporation Ltd., and Bharat Petroleum Corporation Ltd. declined on Monday after the benchmark Singapore Gross Refining Margins hit their lowest level since October 2023. Closing GRM levels on Friday stood at $2.5 per barrel of oil, a 19% drop from the $3.1 … Read more