Corporate & Markets

Chennai-based payments firm to expand footprint in Saudi Arabia

Financial Software and Systems (FSS), a Chennai-based payments technology company, has announced that it is expanding its footprint to strengthen digital payment capabilities in Saudi Arabia.
The company said in a statement on Thursday that through this venture, it is looking to expand the scope of digital payments in India by taking it to a much larger user base than currently in existence.

Muthoot Finance ties up with Bajaj Allianz

Known as ‘Muthoot Gold Shield’,the policy provides insurance coverage of gold jewellery for individuals at the time of closure of gold loan and release of gold ornaments.

Analyst corner: Maintain ‘buy’on V-Mart with TP of Rs 2,350

We interacted with the the V-Mart management to gain the latest insights on the developments and recovery in the Retail Apparel market.

Analyst corner: ‘Hold’ on Motherson Sumi as it reiterates FY25 target

MSS has big growth ambitions although value creation will depend on inorganic opportunities and investment needs where visibility is low. We retain Hold.

Balkrishna Industries Rating: Buy; Poised to gain from demand revival

Strong FCF generation of ~Rs 28 bn estimated over FY22/23e; TP raised to Rs 1,892

Bharti Infratel Rating: Hold; Merger with Indus to boost EPS/RoE

EPS accretion of 5-7% is likely; estimates revised; TP raised to Rs 220; limited upside from current levels; ‘Hold’ maintained

Textile sector in Gujarat witnessing heavy buying

Diwali festivities have brought lots of cheers in Gujarat's textile sector as most of the wholesale markets in the state witnessed heavy buying from across the country.

Sources in the textile industry said a large chunk of migrant labourers went to their native places in April and May during the lockdown.

Adani Power wins short-term contracts to supply 6,100 MW to Punjab

Adani Power has won short-term contracts for supply of 6,100 megawatt (MW) of electricity in auctions held by the Punjab government for procuring a total of 7,000 MW.

discoms, gencos, outstanding dues, atmanirbhar bharat, pm modi

Srei may face problem in raising additional debt, say bankers

The RBI has appointed an auditor to conduct a special audit of Srei Infrastructure Finance and its subsidiary Srei Equipment Finance.

Don’t be cost-centric but focus on quality, Gadkari tells auto parts makers

Nitin Gadkari called upon the automobile industry to push for manufacturing of flex engines, which have the versatility to use petrol or ethanol/ CNG as fuels.

Only 27% Indians are financially literate: Sebi’s Garg

The regulator, stock exchanges and institutions need to do a lot more as financial literacy levels are very low in India.

Franklin MF moves Supreme Court against part of Karnataka High Court order

Franklin Templeton Mutual Fund on Monday moved the Supreme Court challenging a part of the Karnataka High Court’s order that asked the fund house to obtain the consent of unitholders of the six debt

Decide on AstraZeneca’s diabetes drug pleas within 15 days, apex court tells Delhi HC

AstraZeneca holds two patents for Dapagliflozin in India. The first expired on October 2 and the other one is due to expire on May 15, 2023.

Steel industry’s iron ore shortage charge ‘artificial’, say miners

Iron ore miners on Monday described as “artificial” the steel industry’s allegation that the steel making raw material is in shortage in the country at present.

While the registration was earlier mandatory for the imports of about 300 steel and iron products, its scope has now been widened to include about 530 more products.

Sajjan Jindal calls on Gujarat CM to discuss investment opportunities

Sajjan Jindal, chairman and managing director of the JSW Group, on Monday visited Gujarat Chief Minister Vijay Rupani and expressed interest in investing in port sector.

With rise in cloud migration, Druva to expand workforce in India

Druva, a cloud data protection and management company, is planning to ramp up its workforce in India within the next 12 months

CIL to invest Rs 5,650 cr in solar power projects by FY24

Coal India (CIL) is poised to set up 14 rooftop and ground-mounted solar power projects with a total capacity of 3,000 MW by FY24.

Your Queries: What is the best way to transfer holdings?

Gifting of shares to relative does not attract any tax liability

Your Money: Were you able to meet your financial goals this year?

Many have experienced income loss, salary reduction, or job loss this year due to the Covid-19 pandemic, and you should assess its impact on your critical financial targets and take effective steps to

Indian whiskys make a mark on the global map

Amrut Fusion Single Malt and Paul John’s Mithuna have won top awards from Jim Murray and his ‘Whisky Bible’, in addition to awards from the San Francisco World Spirits Competition and the World

Mutual Funds: Tips on how to choose the funds right for you

From the risk-o-meter rating to performance indicators such as Alpha and Beta along with the Sharpe and Treynor ratios, each indicator helps identify the mutual fund ideal for you.

Delay in supply pacts with discoms seen to hit renewable energy projects

SECI is trying to bundle this relatively high cost power with low cost power from other tenders to offer an agreeable price to discoms.

This would avoid unnecessary delays and help project developers streamline their project schedules.

Water infrastructure: Make smart water a reality

Holistic water management that employs smart technologies is critical to achieving the goals of the Smart Cities Mission

Thus, water management must move towards holistic and inclusive smart management to address the said challenges.

Air traffic continues its upward trajectory

For the W.E. 14th Nov’20, the average number of departures per day rose to 1,745 from 1,698 in the W.E.

The number of fliers per departure increased to 111 from 109 in the same timeframe.
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