Kotak Mahindra gets RBI nod to acquire Sonata Finance for Rs 537 crore

Mumbai (IANS) Kotak Mahindra has received RBI’s approval to acquire Sonata Finance for Rs 537 crore, the bank said in informed the Bombay Stock Exchange on Friday.

“We now wish to update you that the RBI has, vide its letter dated October 19,…

Suzuki eyes to make India its global electric car manufacturing hub

New Delhi (IANS) Maruti Suzuki's parent Suzuki Motor Corporation plans to make India its global electric car manufacturing hub with the first batch of vehicles expected to be rolled out as early as 2025, according to a news report.

Suzuki…

Imports of laptops, servers for sale in market not exempt from licensing in new rules

New Delhi (IANS) The government issued a notification on Thursday stating that notified IT hardware items essential for Capital Goods are exempt from import licensing requirements.

For instance, laptops/tablets accompanying machinery such as…

Israel-Hamas conflict negatively impacts market confidence

New Delhi (IANS) Nifty concluded on a downbeat tone, following the lead of the global market, with the majority of sectoral indices also doing so, said Vaibhav Vidwani, Research Analyst, Bonanza Portfolio.

The Nifty metal was down by 0.88 per…

ONGC, OIL to gain as govt cuts windfall tax on crude oil

New Delhi (IANS) The central government has reduced the windfall tax on domestic crude oil with effect from October 18 from Rs 12,200 a tonne to Rs 9,050 in its fortnightly review which will benefit upstream oil companies, including ONGC and Oil India…

Financials lead Sensex down

New Delhi (IANS) The BSE Sensex was down 246 points at 66,181 points on Wednesday. Financial stocks are down with Bajaj Finance, Bajaj Finserv, HDFC Bank, Axis Bank down more than 1 per cent.

The tragic bombing in the Gaza hospital has confounded…

Govt extends curbs on sugar exports to keep prices in check

New Delhi (IANS) The government on Wednesday extended restrictions on sugar exports beyond October 31 this year to increase availability of the commodity in the local market and keep prices in check during the festive season.

"Restriction on…

Cabinet approves up to 9% hike in MSP of wheat, other major Rabi crops

New Delhi (IANS) The Cabinet Committee of Economic Affairs on Wednesday approved the increase of up to 9 per cent in the Minimum Support Prices (MSP) for all mandated Rabi crops for marketing season 2024-25.

The absolute highest increase in…

Rocket startup Agnikul raises Rs 200 Cr capital

Chennai (IANS) Rocket startup Agnikul Cosmos on Tuesday said it has raised Rs 200 crore ($26.7 million) to scale its existing technology towards commercialization as well as invest in key facilities such as mobile launchpads and other test rigs necessary…

Maruti to issue Rs12,841cr worth shares to Suzuki for 100% stake in Guj plant

New Delhi (IANS) The country’s leading car maker, Maruti Suzuki India announced on Tuesday that it would issue shares worth Rs 12,841 crore to its parent company Suzuki Motor Corporation to acquire 100 per cent equity capital in the latter’s Gujarat…