Rupee declines 21 paise to 85.60 against US dollar
MUMBAI: The rupee declined 21 paise to settle at 85.60 (provisional) against the US dollar on Tuesday, weighed down by a firm American currency and outflow of foreign funds. According to forex traders, the local unit remained under pressure tracking negative domestic equity markets amid geopolitical uncertainties. Investors are also awaiting cues from the Reserve […]
Markets extend losses for 3rd session amid broad-based selloff; Sensex slips below 81k
MUMBAI:Equity benchmark indices Sensex and Nifty tumbled nearly 1 per cent on Tuesday, weighed down by a widespread selloff amid renewed foreign fund outflows and growing geopolitical uncertainties. The 30-share BSE Sensex tanked 636.24 points or 0.78 per cent to settle at 80,737.51. During the day, it dropped 798.66 points or 0.98 per cent to […]
Biocon gets CDSCO nod for generic diabetes medication
NEW DELHI,: Biotech firm Biocon on Tuesday said it has received approval from the government authorities for a generic diabetes medication. The company has received approval for its Liraglutide drug substance and its wholly-owned subsidiary Biocon Pharma has received approval for its Liraglutide drug product (6 mg/ml solution for injection in pre-filled pen and […]
Larsen & Toubro bags projects worth Rs 1,000-2,500 cr from Rajasthan govt
NEW DELHI: Infrastructure major Larsen & Toubro (L&T) on Tuesday said that it has bagged “significant” orders from Rajasthan government. L&T classifies orders worth between Rs 1,000 crore and Rs 2,500 crore as ‘significant’. The projects have been bagged by the water and effluent treatment business vertical of L&T from the public health engineering […]
Kinetic Green Energy and Power appoints Vasudevan as President of electric two-wheeler biz
MUMBAI: Electric vehicle maker Kinetic Green Energy and Power Solutions on Tuesday announced the appointment of Jayapradeep Vasudevan as President of its electric two-wheeler business. A veteran in the automobile industry with over 25 years of comprehensive experience, Vasudevan comes on board at a pivotal time when the company is poised to further expand […]
Goyal discusses opportunities in Indian shipping sector with Singapore
PARIS,: Commerce and Industry Minister Piyush Goyal on Tuesday held a meeting with Singapore’s Deputy Prime Minister Gan Kim Yong and discussed ways to boost economic ties and huge opportunities in the Indian shipping sector. Goyal is here on an official visit to meet French leaders and businesses to host trade and investments between the […]
Aequs files IPO papers via confidential filing route; seeks to raise up to USD 200 mn
NEW DELHI,: Aequs, a contract manufacturing firm for consumer durable goods and aerospace parts, has filed draft papers with the markets regulator Sebi through a confidential pre-filing route, with an aim to raise around USD 200 million. The offer will comprise both a fresh issue of equity shares and an Offer For Sale (OFS) […]
Govt offers major import tax cuts to EV makers for local production under electric car scheme
NEW DELHI, : The government on Monday notified guidelines under the Scheme to Promote Manufacturing of Electric Passenger Cars in India, whereby companies will be allowed to import up to 8,000 electric four-wheeler units annually at a lower import duty of 15 per cent, against 70-100 per cent currently, provided they commit an investment of […]
UPI transactions hit record high of Rs 25.14 lakh crore in May
NEW DELHI, : Transactions through the popular Unified Payments Interface (UPI) touched a record high of Rs 25.14 lakh crore in May, recording a growth of 5 per cent over the preceding month, according to data released by the National Payments Corporation of India (NPCI). The UPI transaction value was Rs 23.94 lakh crore […]
Udaan raises USD 114 million from M&G Investments, Lightspeed
NEW DELHI,: eB2B platform udaan has raised USD 114 million (about Rs 974 crore) in fresh equity capital in a funding round led by M&G Investments and Lightspeed. The funds will be used to expand udaan’s presence across categories and customers, particularly targeting the Fast-Moving Consumer Goods (FMCG) sector and the Hotel, Restaurant, and […]
