BUSINESS
Market Surges to New Highs, Oil & Gas Stocks Lead with Strong Performance
The benchmark indices closed at record highs for the fifth consecutive day, with the Nifty reaching 21,778.70, up by 0.57%, and the Sensex ending at 72,410.38, up by 0.52%.
India's Economy Sustains Stable High Growth Supported by Strengthened Banks: RBI
Financial institutions are playing a crucial role in sustaining credit growth, supported by robust earnings and solid capital buffers.
Teslas Potential EV Plant in Gujarat Elon Musks Expected India Visit Next Month
Gujarat, famed for its strategic positioning and business-friendly ambiance, emerges as Tesla's favored spot for this manufacturing endeavor.
NBFC’s vehicle loan AUM to vroom to Rs 8.1 lakh cr by 2025
According to CRISIL Ratings, the NBFC’s vehicle financing AUM will touch Rs 8,10,000 crore from Rs 5,90,000 crore as on March 31, 2023.
HPCL Leads Surge in Oil and Gas Stocks, Contributing to Market Gains
Among the major movers in the sector, HPCL led the way with a remarkable 6.7% increase, followed by IOC gaining 3.6%, GAIL rising by 3%, and Petronet LNG securing a 2.6% uptick.
IPO-bound FirstCry files DRHP, aims to raise Rs 1,816 cr
FirstCry’s parent company BrainBees Solutions filed the DRHP which includes offer-for-sale (OFS) comprising 5.4 crore equity shares.
Stabilization in Oil Prices as Red Sea Transport Disruptions Ease
The decrease in prices, nearly 2% on Wednesday, coincided with major shipping companies resuming operations in the Red Sea.
Surge in Market Volatility Index Indicates Increased Market Uncertainty
Reflecting on the market outlook outlined earlier, James acknowledges the underestimated strength of the underlying uptrend, leading to a breach of the previously anticipated objective of 21540.
Zomato Stock Declines Following Issuance of Rs 400 Crore Show-Cause Notice for GST Dues
Reports suggest that the show-cause notice to Zomato covers the period from October 29, 2019, to March 31, 2022. Zomato responded by stating that it firmly believes it is not obligated to pay any tax as the delivery charge is collected on behalf of the delivery partners. According to a regulatory filing, Zomato asserted that, based on mutually agreed contractual terms and conditions, the delivery partners provided services to customers, not the company.
Legal Action Against Chanda Kochhar and 10 Others for Alleged Fraud Involving Tomato Paste Company
The Economic Offence Wing of the Delhi Police subsequently filed an FIR on December 20, citing charges of cheating and criminal conspiracy.
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