BUSINESS
'Market will have a negative view of GIC Re if clubbed with GIPSA'
Citing the Reserve Bank of India (RBI) and NABARD which are not part of the Indian Banks’ Association (IBA) owing to their nature of business, the GICOA said that GIC Re’s business is entirely different – business-to-business (B2B) or insurer for the insurers from the four government owned primary insurers which is primarily business-to-consumer (B2C).
PSU scrips MMTC, IRFC post strong rally
Apart from IRFC, other railway stocks were also up including RVNL up by 11 per cent, IRCON up by 7 per cent.
SpiceJet’ Board grants approval for issuance of equity shares
In an exchange filing, the company said: "This is to inform you that the Allotment Committee of the Board of Directors of the Company at its meeting held on September 4, 2023 from 4:00 p.m. to 4:15 pm., has, inter-alia, considered and approved allotment of 3,41,72,000 equity shares of the face value of Rs.10 each at an issue price of Rs.29.84 each on preferential basis to Spice Healthcare Private Limited (an entity under ‘promoter group’)."
Indian edtech funding dips 48%, no new unicorn to date this year
Only one over $100 million funding round took place this year (till August 7).
Nifty rises on Monday, makes steady gains
Volumes on the NSE were higher than recent average. Broad market indices rose more than the Nifty even as the advance decline ratio was high at 1.69:1.
EMS Limited fixes price band of Rs 200-211 for its IPO
Set to open on Friday, the IPO for aggregating Rs 14,624.00 lakh through fresh issue of Equity Shares & 82,94,118 equity shares under Offer for Sale by the Promotor, Ramveer Singh.
IndiGo’s board grants approval for establishment of Venture Capital division
“This new division's primary focus will be investing in early-stage companies operating in aviation and related consumer sectors, such as travel, lifestyle, hospitality, and transportation,” said an airline official.
Metal, IT stocks lead as Nifty moves up
Nifty 50 index advanced 94 points to settle at 19,529 while the Sensex ended at 241 points higher at 65,628.
Cognizant veteran Rajesh Nambiar appointed as Nasscom Chairperson
Nambiar takes on the new role from his previous role as Vice Chairperson succeeding Anant Maheshwari, ex-President of Microsoft India and now President and CEO of Honeywell’s High Growth Region portfolio.
Adani-Hindenburg matter: SC to consider fresh status report filed by SEBI on Sep 15
As per the details available on the official website of the apex court, a bench headed by CJI D.Y. Chandrachud is likely to take up the pleas for hearing on September 15.
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