BUSINESS
Tata Steel to Weigh Merger Scheme with Indian Steel & Wire Products, Shareholders Meeting Scheduled for Jan 25
Tata Steel Limited, the transferee company, stands as a global leader in the steel industry, boasting a century-long legacy in steel manufacturing and serving as a pioneering force in India's steel sector.
Government Extends Customs Duty Exemption on Masoor Dal until March 2025
Food inflation, constituting a significant portion of the overall consumer price basket, surged by 8.7% in November, compared to 6.61% in October.
Ola Electric Submits DRHP to SEBI, Eyes Rs 5,500 Crore via IPO: Report
As per reports, the IPO's fresh issue component is set at Rs 5,500 crore, with the remaining amount constituting the offer for sale (OFS) category, approximately Rs 1,750 crore.
Government Takes Tough Stance on Public Sector Banks Regarding Major Insolvency Cases
Highlighting the urgency to address these issues, Joshi mentioned that Finance Minister Nirmala Sitharaman will personally oversee the operations of the National Asset Reconstruction Company Ltd (NARCL).
PSU Bank Index Records Over 3% Weekly Loss, Leading Market Downtrend
While sectors like FMCG, oil & gas, and pharma demonstrated gains of over 1%, profit booking activities were evident in PSU banks, private banks, and media indices. The PSU Bank index suffered the most, declining by over 3%.
Nifty Pharma Index Hits 52-Week High Amidst Market Trends
According to Vaibhav Vidwani, Research Analyst at Bonanza Portfolio, Nifty Realty and Nifty IT emerged as the standout performers, showing respective gains of 2.55% and 2.27%.
Indian Startups Witness Over 35,000 Job Losses, Continued Cuts Expected in 2024
The year 2022 saw a significant workforce reduction within Indian startups, with more than 18,000 employees being let go, spanning various sectors.
Cut in Customs Duty on Edible Oil Imports Continues for Another Year
Initially implemented in June to counter soaring prices, the reduction saw a decrease in the basic customs duty on crude palm oil, crude sunflower oil, and crude soyoil from 17.5 percent to 12.5 percent until March 2024.
India's Forex Reserves Hit 20-Month High, Surge to $615.97 Billion
The significant increase of $9.11 billion in reserves for the week ending December 15 follows a rise of $2.82 billion to $606.86 billion in the previous week ending December 8.
Shares of Polycab India Plunge Following Tax Authorities Raid on Company
The raids encompassed the residences and offices of the top management, prompted by suspicions of tax evasion. Polycab's shares observed a decline of 5.04 percent, trading at Rs 5,335 on the National Stock Exchange (NSE), while on the Bombay Stock Exchange (BSE), the stock hit a low of Rs 5,404 during the day's trading.
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