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Business News/ Markets / Live Blog/  Indices end flat, Sensex slips 50 pts, Nifty sheds 10 pts; FMCG, Media drag

Indices end flat, Sensex slips 50 pts, Nifty sheds 10 pts; FMCG, Media drag

Share Market Close: Indices remained volatile throughout the day and closed in the flat-to-negative territory. Bharti Airtel, NTPC and Apollo Hospitals gained in today's session, whereas Bajaj Finserv and Tata Consumer lagged. Asian markets had a mixed Tuesday as global cues still remain somewhat bleak.

Stock Market Today: Traders to remain cautious on Tuesday (PTI)Premium
Stock Market Today: Traders to remain cautious on Tuesday (PTI)

Asian markets had a mixed day with the Nikkei closing flat but the Mainland China market getting a boost with a renewed pledge by the government to stimulate the economy. Europe also saw its market opening in green after a depressing Monday. 

06 Sep 2022, 03:44:43 PM IST

Indices shed marginally amidst high volatility. Sensex closes just below 59,200 and Nifty at 17,655

Benchmark indices remained volatile throughout the day and ended slightly in the red. Sensex slipped 49 points to close at 59,196 and Nifty dropped 10 points to end at 17,655.

Bharti Airtel, NTPC and Apollo Hospitals shined in today's session with a gain of 2% each. Tata Consumer and Bajaj Finserve slipped 2% each.

FMCG and Media dragged the market and shed 0.5%. Metal and Oil & Gas gained more than a per cent to end in green.

Tokyo stocks also ended nearly flat after a subdued trading session that saw few fresh market-moving events after a holiday in US on Monday. The benchmark Nikkei 225 index gained a nominal 0.02%.

Mainland China stocks ended higher on Tuesday as the mood got a lift after the country's policymakers pledged to make efforts to boost the economy.

The CSI 300 Index rose 0.9%, while the Shanghai Composite Index gained 1.4%. Meanwhile, Hong Kong's Hang Seng Index lost 0.1%,

European shares climbed on Tuesday following a rough start to the week as worries over a looming energy crisis and recession weighed on risk appetite.

US market will open today after an extended weekend as the market remained closed on Monday for Labor Day.

Sensex at Close
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Sensex at Close
06 Sep 2022, 03:17:53 PM IST

Suzlon bags 180.6 MW wind energy project from Sembcorp's arm Green Infra Wind Energy

Renewable energy solution provider Suzlon Energy on Tuesday said that it has won an order to set up 180.6 MW wind energy project from Sembcorp's arm Green Infra Wind Energy Ltd.

"Suzlon Group, India's largest renewable energy solutions provider, today announced a new order win for the development of a 180.6 MW wind power project for Sembcorp's renewables subsidiary Green Infra Wind Energy Limited," a BSE filing said.

Suzlon will install 86 Wind Turbine Generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each.

The project is located at Kanakagiribad, Bagalkot in Karnataka, and is expected to be commissioned in 2024. (PTI)

06 Sep 2022, 03:17:27 PM IST

Bharat Biotech's COVID-19 nasal vaccine approved for restricted use in India

Bharat Biotech's COVID-19 recombinant nasal vaccine has been approved by the Indian drug regulator, the country's health minister Mansukh Mandaviya tweeted on Tuesday.

The regulator approved the vaccine for primary immunisation of those aged 18 years and above, for restricted use in emergency situations, Mandaviya added. (Reuters)

06 Sep 2022, 03:01:20 PM IST

Government releases ₹7183 crore as 6th instalment of revenue deficit grant to 14 states

The finance ministry on Tuesday released the sixth monthly instalment of revenue deficit grant of 7,183 crore to 14 states for the current fiscal.

The grant has been released as per the recommendations of the Fifteenth Finance Commission. The Fifteenth Finance Commission had recommended a total post devolution revenue deficit grant of 86,201 crores to 14 States for the financial year 2022-23.

Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal have been given the grant. (Full Report)

06 Sep 2022, 02:47:54 PM IST

China stocks end higher as Beijing pledges further stimulus

China stocks ended higher on Tuesday, as risk appetite got a lift after the country's policymakers pledged to make renewed efforts to boost the COVID-hit economy.

** The CSI 300 Index rose 0.9% at close, while the Shanghai Composite Index gained 1.4%.

** The Hang Seng Index lost 0.1%, and the Hang Seng China Composite Index dropped 0.3%.  (Reuters)

06 Sep 2022, 02:29:09 PM IST

Pharma stock declares special interim dividend of ₹30 per share. Check record date

Pharmaceutical company Pfizer on Tuesday informed that the company's board at meeting held on September 6, 2022 has decided to declare an interim special dividend of 30 for the financial year ending 2023. Shares of Pfizer were trading about 0.5% higher at 4,303 apiece on the BSE in Tuesday's afternoon deals. (Read More)

06 Sep 2022, 02:18:14 PM IST

India to start economic partnership talks with Bangladesh

Indian Prime Minister Narendra Modi on Tuesday said India will start talks on a comprehensive economic partnership with Bangladesh.

"We also decided to increase cooperation in sectors such as IT, space and nuclear energy," Modi said. (Reuters)

06 Sep 2022, 01:48:57 PM IST

Moody's retains India's sovereign credit rating at Baa3 stable

The impact of the Russia-Ukraine conflict, higher inflation and tightening global financial conditions are unlikely to derail India's economic recovery from the pandemic, rating agency Moody's said in a release on Tuesday.

Moody's Investor Service retained its sovereign rating on India at Baa3 with a stable outlook, the release showed.

"Principal credit challenges include low per capita income, high general government debt, low debt affordability and limited government effectiveness," the agency said in the release. (Reuters)

06 Sep 2022, 01:33:12 PM IST

GAIL shares: Why IIFL is bullish on the PSU stock?

Domestic brokerage and research firm IIFL said that they like GAIL (India) Ltd’s overall disclosures in the FY22 AR, which give good perspective on financial performance, growth opportunities and risks for each of its businesses. The capex heavy strategy 2030 envisages investments across core (transmission) and non-core (commodity) businesses. (Full Report)

06 Sep 2022, 01:31:39 PM IST

European shares steady after plunge, Credit Suisse up

European shares climbed on Tuesday, following a rough start to the week as worries over a looming energy crisis and recession weighed on risk appetite, while Credit Suisse Group rose after the lender agreed to sell its global trust business.

The STOXX 600 index rose 0.5% just moments after the opening bell, on track to recover from a 0.6% loss marked in the previous session on news that Russia stopped pumping gas via the Nord Stream 1 pipeline to Europe.

Germany's DAX index climbed 0.7% after slumping more than 2% lower on Monday. (Reuters)

06 Sep 2022, 01:30:13 PM IST

Metal Index shines in today's session, adds almost 1%. Almost all stocks in green

Metal Index
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Metal Index
06 Sep 2022, 01:11:33 PM IST

Bajaj Finserv remains one of the biggest laggards in today's session, down almost 1.5%

Bajaj Finserv
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Bajaj Finserv
06 Sep 2022, 01:10:25 PM IST

Gazprom gas flows to Europe via Ukraine seen stable on Tuesday

- Gazprom said on Tuesday that it will ship 42.4 million cubic metres of gas to Europe via Ukraine on Tuesday, a figure unchanged from Monday. (Reuters)

06 Sep 2022, 12:51:12 PM IST

India provides best investment opportunity, destination that can't be missed: Goyal

Commerce and Industry Minister Piyush Goyal has pitched India as the best investment destination, saying the time is "just ripe" to engage in areas of mutual interests of India and the US.

Addressing industry leaders of the US and India here, the minister on Monday said both countries can promote global security, stability and resilient supply chains.

"There are many competitive advantages that the US-India relation has to offer. The resilience of our supply chains and the way talent India has provided to the US and investments the US has provided to India, all of these cumulatively make a very good business case," he said while addressing the US India Strategic Partnership Forum (USISPF). (PTI)

06 Sep 2022, 12:30:31 PM IST

Metro Brands to send 'discount vouchers' to shareholders

Footwear retailer Metro Brands on Tuesday said that the company has proposed to send ‘discount voucher’ to its shareholders. The vouchers shall entitle each shareholder to a discount of 15% on products of the company. These vouchers shall entitle each shareholder to a discount of 15% on the products of Metro Brands across its brands namely, Metro, Mochi, Walkway, Crocs and Fitflop. (Full Story)

06 Sep 2022, 12:20:51 PM IST

Tokyo shares close near-flat after quiet trade

Tokyo stocks ended nearly flat on Tuesday after a subdued trading session that saw few fresh market-moving events after a holiday for US bourses.

The benchmark Nikkei 225 index gained a nominal 0.02%, or 6.90 points, to 27,626.51, while the broader Topix index lost 0.11%, or 2.21 points, to 1,926.58. (AFP)

06 Sep 2022, 12:10:02 PM IST

Dreamfolks Services announces Q1 results on listing day, swings to profit

On the first day of its stock market debut, Dreamfolks Services disclosed its financial results for the first quarter ended June 2022. The company reported a consolidated net profit of 13.4 crore as compared to reporting a loss of 1.4 crore in the year-ago quarter. Meanwhile, its revenue from operations during Q1 FY23 rose to 160 crore from 24.5 crore year-on-year (YoY). (Read More)

06 Sep 2022, 12:02:51 PM IST

Noon Update: Sensex trading flat amidst volatility. Sensex up around 70 points and Nifty 20 points.

Sensex at Noon
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Sensex at Noon
06 Sep 2022, 11:44:59 AM IST

Tamilnad Mercantile Bank fully subscribed in morning trade on Tuesday

The initial public offer of Tamilnad Mercantile Bank got fully subscribed in morning trade on Tuesday, the day two of subscription.

The 831.6-crore public offer received bids for 88,32,292 shares, against 87,12,000 shares on offer, according to an update available with the NSE till 10:51 am.

Retail Individual Investors (RIIs) category received 2.15 times subscription. The portion for non institutional investors got subscribed 84 per cent and Qualified Institutional Buyers (QIBs) quota was subscribed 73 per cent.

The Initial Public Offer (IPO) of 1.58 crore equity shares has a price range of 500-525 a share.

The IPO of Tamilnad Mercantile Bank received 83 per cent subscription on the first day on Monday. (PTI)

06 Sep 2022, 11:35:32 AM IST

Angel One Daily Commodity view - Gold, Crude and Base Metals

Prathamesh Mallya, AVP- research, non-agri commodities, and currencies, Angel One Ltd outlook on: 

Gold: Given Europe's economic uncertainties, the yellow metal may see an uptick. However, the gains may be limited because the US Fed is expected to raise interest rates by 75 basis points.

Crude: Oil prices may continue to rise, given the delay in the Iran nuclear deal and further support from the OPEC+, who have slashed the output by 100,000 bpd.

Base Metal: We expect copper to trade higher towards 649 levels, break of which could prompt the price to move higher to 660 levels.

06 Sep 2022, 11:33:35 AM IST

Prabhudas Lilladher view on OPEC production cut: Prices will not be impacted as there will be minor upmove.

Megh Mody - commodities and currencies research analyst, Prabhudas Lilladher Pvt Ltd: "OPEC and its allies led by Russia on Monday agreed a small oil production cut to bolster prices that have slid on fears of an economic slowdown. The oil producers will reduce output by 100,000 barrels per day (bpd), amounting to only 0.1% of global demand, for October and also agreed they could meet any time to adjust production before the next scheduled meeting on Oct. 5. Prices will not be impacted as there will be minor upmove. This production cut can be a breather for process due to weak macro sentiment, renewed china lockdown, uncertainty over potential US- Iran deal"

06 Sep 2022, 11:28:28 AM IST

Bharti Airtel zooms in today's session, adds more than 2%

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06 Sep 2022, 11:18:20 AM IST

Nomura raises India's current account deficit estimate on fears of export slowdown

Brokerage Nomura expects India's current account deficit (CAD) as a share of the gross domestic product to triple this fiscal year, saying that a global economic slowdown will further skew the country's trade imbalances.

In a note dated Sept. 5, the research house said it now expects India's CAD to rise to 3.5% of GDP in the current fiscal year from 1.2% last year. It had previously forecast the share to be 3.3% of GDP.

Further, the slight decline in India's trade deficit to $28.7 billion in August from a record $30 billion in the previous month offers little relief, Nomura said. The pace of growth of both imports and exports moderated, though the slowdown was more pronounced in exports, it added. (Reuters)

06 Sep 2022, 11:09:39 AM IST

Kotak Mahindra Bank-Federal Bank merger has plenty of challenges: Emkay Global

Shares of Federal Bank Ltd were in focus on Monday following reports of its merger with Kotak Mahindra Bank Ltd. The Federal Bank stock hit a new 52-week high of 129.75 apiece on the National Stock Exchange on Monday.

Federal Bank’s employee union's resistance and Kotak Mahindra Bank's inhibition post the ING Vysya acquisition amid potential change of guard dampen the likelihood of the deal coming through, Emkay Global has said. (Read More)

06 Sep 2022, 10:45:38 AM IST

Kalpataru, its international subsidiaries bag orders worth ₹1,345 crore

Kalpataru Power Transmission Ltd (KPTL) on Tuesday said the company and its international subsidiaries have secured new orders worth 1,345 crore.

In a regulatory filing KPTL said, the company and its international subsidiaries have secured new orders/notification of awards of 1,345 crore.

The company has bagged the said orders in India and in the overseas market in the transmission and distribution (T&D) business, the filing said. (PTI)

06 Sep 2022, 10:25:23 AM IST

IT Index is under pressure, all stocks are in red.

IT Index
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IT Index
06 Sep 2022, 10:18:27 AM IST

Axis Securities festive demand picks: Maruti; Bajaj Finance; SBI Cards; Trent, Relaxo; V-mart

Axis Securities says, "Multiple catalysts are triggering renewed excitement in the air. A few of these are:

· The Indian economy’s remarkable resilience in FY23 to date with an uptick visible in most of the high-frequency indicators.

· Improvements in urban demand with rural demand, too, on the verge of improvement as normal monsoon is reviving confidence in demand recovery in rural India.

· Fully functioning contact-intensive services sectors such as Travel & Tourism, Hotels, Schools, and Colleges post COVID 3.0. In addition, all public transport systems like Air, Rail, and Bus are also now fully operational, supporting fast and resilient recovery in economic activities.

· Remittances (major contributors to rural income) likely to return to pre-Covid levels with the pick-up in the services sectors.

· Easing supply chain conditions and cool-off in commodity prices, providing a breather from high inflation. In this context, the market narrative has shifted from inflation concern to a cool-off in inflation expectation in the next one or two quarters.

Based on the above themes, we recommend the following stocks that are well-placed to be the beneficiaries of robust festival demand: Maruti; Bajaj Finance; SBI Cards; Trent, Relaxo; V-mart

06 Sep 2022, 10:12:05 AM IST

Chennai fintech IppoPay buys risk management startup Tutelar

IppoPay, a Chennai-based payment gateway firm backed by Coinbase Global, Better Capital and Blume Founders Fund, has acquired a risk management startup Tutelar for an undisclosed amount. With this acquisition, IppoPay plans to enter the payments infrastructure play. (Full Report)

06 Sep 2022, 10:11:07 AM IST

Japan's Nikkei inches higher as Fast Retailing, chip shares gain

Japan's Nikkei share average inched up on Tuesday, as investors bought back stocks after four straight sessions of losses, underpinned by gains in Uniqlo clothing shop owner Fast Retailing and heavyweight chip makers.

The Nikkei index inched up 0.02% to 27,624.96 by the midday break, after slipping into the negative territory momentarily. The broader Topix was 0.04% lower at 1,927.97.

The Nikkei was firm despite losses on the European stocks overnight, after the euro dropped below 99 cents for the first time in 20 years and European gas prices surged after Russia said its main gas supply pipeline to Europe would stay shut. (Reuters)

06 Sep 2022, 10:05:42 AM IST

Cryptocurrency prices today: Bitcoin slips, ether gains, ethereum classic surges 22%

Bitcoin price today slipped marginally and it was trading below the $20,000 level. The world's largest and most popular cryptocurrency was trading slightly lower at $19,731. The global crypto market cap today was above the $1 trillion mark, as it was a per cent higher in the last 24 hours at $1.03 trillion, as per CoinGecko. (Full Report)

06 Sep 2022, 10:04:34 AM IST

Dreamfolks Services shares make strong debut, IPO allottees gain over 55%

Shares of airport service aggregator platform Dreamfolks Services made a positive stock market debut on Tuesday with the stock listing at 508 apiece on the NSE, a premium of more than 56% as compared to its IPO issue price of 326 per share. On the BSE, Dreamfolks Services shares started trading at 505 apiece.

DreamFolks Services IPO was subscribed 56.68 times on the last day of its public issue. (Full Report)

06 Sep 2022, 09:56:01 AM IST

Rupee falls 12 paise to 79.90 against US dollar in early trade

The rupee depreciated by 12 paise to 79.90 against the US dollar in opening trade on Tuesday, weighed down by strength of the American currency in the overseas market.

At the interbank foreign exchange market, the rupee opened at 79.80 against the greenback, then fell further to 79.90, registering a decline of 12 paise over its last close.

On Monday, the rupee appreciated 9 paise to close at 79.78 against the dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.08% to 109.62. (PTI)

06 Sep 2022, 09:53:19 AM IST

India's future crude oil supplies will mostly come from Gulf, says oil minister

India's minister of petroleum and natural gas, Hardeep Singh Puri, said most of his country's crude oil supplies in the near future will come from the Gulf countries, including Saudi Arabia and Iraq, as it seeks a secure and affordable energy base.

Indian refiners have been snapping up relatively cheap Russian oil, shunned by Western companies and countries since sanctions were imposed against Moscow for what it calls a "special military operation" in Ukraine. (Full Report)

06 Sep 2022, 09:32:25 AM IST

Gail shares trade ex-bonus; stock rises 

Shares of GAIL (India) Ltd rose nearly a per cent to 92 apiece on the BSE in Tuesday's opening deals as the stock started trading ex-bonus, a day ahead of its record date for the bonus issue of equity shares that its board had recommended in the ratio of 1:2 in July this year.

06 Sep 2022, 09:25:31 AM IST

Apollo Hospitals makes early gains, adds 2%

Apollo Hospitals
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Apollo Hospitals
06 Sep 2022, 09:22:30 AM IST

Sensex gains 200 points at open on Tuesday and Nifty 75. DreamFolks Services will be listed in bourses  today

Sensex at Open
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Sensex at Open
06 Sep 2022, 09:14:03 AM IST

Tamilnad Mercantile Bank IPO: GMP, subscription status on day 2 of the issue

The Initial Public Offer (IPO) of Tamilnad Mercantile Bank received 83% subscription on the first day on Monday with retail category oversubscribed. The Tuticorin-based private sector lender has fixed the price band at 500-525 per share and the share sale will conclude on Wednesday, September 7. The lender on Friday said it has mobilised a little over 363 crore from anchor investors ahead of its issue. (Full Report)

06 Sep 2022, 09:11:04 AM IST

India inflation rate likely rose to 6.9% in August - Deutsche Bank

Deutsche Bank estimates that India's consumer price index (CPI) firmed to 6.9% year-on-year in August, while core inflation likely stood at 6%.

The Asian nation will report the data next Monday.

While Brent crude oil prices have recorded a steep decline in recent weeks, the favourable impact will be less reflected in the CPI as fuel items account for a very small weight, Deutsche Bank said.

Meanwhile, the risks to food inflation persist with negative seasonality kicking in for the September-November period, the bank said. (Reuters)

06 Sep 2022, 09:04:31 AM IST

Sensex is flat at preopen session with a slight tilt towards the red. DreamFolks Services is to set to debut today in the market

Sensex at Preopen
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Sensex at Preopen
06 Sep 2022, 09:00:39 AM IST

Ashika Stock Broking on Nifty: During the day, index is likely to open on a flat note

Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking Ltd: On the technical front, Nifty formed a bullish candle on the daily chart however the chart structure has not witnessed any imperative changes and continues to remain rangebound. There are evidence of reversal pattern in weekly time frame hence in coming sessions, key thing to watch will be a faster retracement above August highs of 18000 that will signal end of the ongoing corrective phase. Else, prolonged consolidation in 17200-17800 range is expected to continue. On the oscillator front, the 14-period RSI has witnessed a sell crossover and presently trading below the 60-level mark. Thus, one need to avoid trading aggressively amid global nervousness. Considering the present situation, a bare minimum correction of 38.6% of the entire rally from 15,183 to 17,992 comes around 16900 followed by 50% correction at 16600. On the upside present setup indicates that Nifty can move towards 17,992 followed by 18,114 in the coming days with immediate support stands at 17,350 and Index need to sustain above the said level with some authority for the bulls to strengthen their stance. During the day index is likely to open on a flat note bit and is expected to trade in a range with positive bias, a sustainable buying could only emerge on the move above 17,800 levels.

06 Sep 2022, 08:47:11 AM IST

Bond yields seen lower after RBI governor says inflation to ease

Indian government bond yields are likely to fall in early trade on Tuesday, after the Reserve Bank of India (RBI) chief said inflation is expected to ease in the second half of this financial year.

The benchmark 10-year Indian government bond yield is likely to trade in the 7.19%-7.25% band, a trader with a private bank said. The yield fell one basis point (bps) on Monday to end at 7.2182%.

"The RBI governor's comments may release some fears of an elevated inflation and that could see the pace of future rate hikes being tapered down which could aid today," the trader said. (Reuters)

06 Sep 2022, 08:37:54 AM IST

Liz Truss prepares to take charge as new UK Prime Minister

Liz Truss, the new Conservative Party leader who beat former chancellor Rishi Sunak to replace Boris Johnson, will take charge as Britain’s new Prime Minister on Tuesday after an audience with the Queen in Scotland.

The 47-year-old foreign secretary, who follows Margaret Thatcher and Theresa May as the third female leader of the Tory party, will travel to the 96-year-old monarch’s Balmoral Castle residence in Aberdeenshire to become the first leader of the majority party to not be invited to form a government at Buckingham Palace in London.

Following her royal audience, soon after Johnson submits his resignation to Queen Elizabeth II, Truss will be flown right back to 10 Downing Street in London to deliver her inaugural speech as the Prime Minister before going on to unveil some key Cabinet posts. (PTI)

06 Sep 2022, 08:34:37 AM IST

Stocks to Watch: DreamFolks, NTPC, V-Mart, Tata Consumer, Shipping Corp, Narayana Hrudayalaya, Aditya Birla Fashion, Adani, NDTV, Jubilant Foodworks,=

Delta Corp will continue to remain under the F&O ban stock list today. The stock will be under the ban for the F&O segment as it has crossed 95% of the market-wide position limit (MWPL), as per the NSE. (Full Story)

06 Sep 2022, 08:32:43 AM IST

Reliance Securities Stock in Focus: Blue Star


Blue Star (CMP Rs.1,111)

With the higher earnings growth, better margin profile and improved business visibility over the medium term, we have BUY rating on BLSTR, with a Target Price of Rs1,475.

Intraday Picks


For today’s trade, short position can be initiated in the range of 4000-4030 for the target of Rs.3900 with a strict stop loss of 4080.


For today’s trade, long position can be initiated in the range of 158- 159 for the target of Rs. 163 with a strict stop loss of 157.


For today’s trade, long position can be initiated in the range of 1090- 1100 for the target of Rs. 1130 with a strict stop loss of 1078.

06 Sep 2022, 08:21:45 AM IST

Gautam Adani searching for new mergers and acquisitions chief: Report

Billionaire Gautam Adani is looking for a new leader for his mergers and acquisitions strategy as the incumbent chief will soon take a new role within the Group, according to a report by Bloomberg news agency. Vinod Bahety, who’s been helming Adani Enterprises Ltd.’s M&A activity, will move to a new business vertical, the agency added.

Adani Group has reached out to potential candidates for the job as Asia's richest man is looking to expedite its dealmaking. (Full Story)

06 Sep 2022, 08:21:07 AM IST

India's coal output remains below estimate at 58 MT in August

India produced 58.33 million tonnes of coal in August, missing its target of 67.94 MT for the month, according to the government data.

The coal production target for August was 67.94 million tonnes (MT), according to the government's monthly statistics (provisional).

However, the production during last month increased by 8.27 per cent to 58.33 MT in August from 53.88 MT in the corresponding month of previous fiscal.

Country's coal output in the first five months of the ongoing financial year increased to 324.39 MT as against 263.97 MT in the April-August period of the previous fiscal.

The total despatch of coal also increased by 5.41 per cent to 63.43 MT in August over 60.18 MT in the year-ago month. (PTI)

06 Sep 2022, 08:14:41 AM IST

BSE, NSE take step to standardise disclosures by listed entities

Leading stock exchanges BSE and NSE on Monday announced that they have taken measures for standardising the disclosures made by listed companies pertaining to the critical information for investors.

Listed firms are required to submit periodical compliance filings to stock exchanges within the prescribed timelines.

Under the measures, stock exchanges have implemented new XBRL-based compliance filing mechanism featuring identical and homogenous compliance data structures.

The move will not only ease the compliance burden on listed entities but would also enable analytics on the data submitted by them, BSE and NSE said in a joint statement. (PTI)

06 Sep 2022, 08:14:04 AM IST

Telcos, gaming cos gear up for revenue boost as 5G nears

Gaming firms in India are putting in motion plans for new features and services ahead of the rollout of 5G service in the country. The sector, which includes makers of games for mobile phones and PCs, streaming firms, and even venture capital (VC) firms, considers 5G to be a possible inflection point that could spur new revenue streams.

India’s overall gaming industry clocked $1.8 bn in revenues in 2020 at a CAGR of 38%, faster than even the US and China. (Full Report)

06 Sep 2022, 08:10:51 AM IST

Reliance Industries to acquire 79.4% stake in US-based SenseHawk for $32 million

Reliance Industries (RIL) on Tuesday announced that the company has entered into definitive agreements with SenseHawk Inc. (SenseHawk) for acquiring 79.4% stake of SenseHawk, through primary infusion and secondary purchase, for a total consideration of $32 million.

Founded in 2018, SenseHawk is an early-stage California-based developer of software-based management tools for the solar energy generation industry. (Full Report)

06 Sep 2022, 07:51:54 AM IST

PayU Payment's acquisition of BillDesk gets CCI nod

Competition Commission of India (CCI) on Monday granted its approval for the acquisition of 100 per cent equity of (BillDesk) by PayU Payments.

The proposed combination relates to the acquisition of 100 per cent of the equity share capital of India Ideas Ltd (IIL) by PayU India.

In a tweet on Monday, CCI said it approved, "acquisition of 100% of the equity share capital of (BillDesk) by PayU Payments."

In August 2021, Prosus NV-backed PayU announced that it will buy digital payments provider BillDesk for USD 4.7 billion (about 34,376.2 crore), making it one of the biggest deals in the Indian consumer internet space. (PTI)

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