Max Financial hits 52-week high on regulatory approval for deal with Axis Bank

MUMBAI: Shares of Max Financial Services hit a 52-week high of Rs938.65 apiece on Thursday on the National Stock Exchange, rising 6.3% from previous close, following the insurance regulator’s approval for its deal with Axis Bank. As part of the deal, Axis Bank with its subsidiaries, Axis Securities Limited and Axis Capital Limited, will acquire […]

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India GDP: Moody’s projects 13.7% growth in FY’22, expects 7% contraction this fiscal

Moody’s on February 25 upped India’s growth projection for the next financial year beginning April 1, to 13.7 percent, from 10.8 percent estimated earlier, on the back of normalisation of activity and growing confidence in the market with the rollout of COVID-19 vaccine. For the current fiscal, the US-based rating agency expects the economy to […]

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Zydus Cadila gets USFDA nod for antidepressant drug

Zydus Cadila on Thursday said it has received final approval from the US health regulator to market antidepressant Nortriptyline Hydrochloride capsules. Zydus Cadila has received final approval from the United States Food and Drug Administration (USFDA) to market Nortriptyline Hydrochloride capsules USP, in strengths of 10 mg, 25 mg, 50 mg and 75 mg, Cadila […]

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Wipro under the spotlight for Citibank’s $900 million mess

Global banking major Citibank relies on a so-called “six eyes” protocol for high-value transactions. It simply means at least three people must approve large sums of money transfers. The extra pairs are deployed as a measure of precaution. Think of it like three scientists carefully examining a rocket before it is fired into space. On […]

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Nureca locked in upper circuit, jumps 66.66% on debut day

Nureca shares were locked in the upper circuit on their market debut on February 25, with the opening price exceeding analysts’ expectations. The stock listed with a premium of 58.7 percent on the BSE against analysts’ forecast of 10-20 percent premium. The stock opened at Rs 634.95 on the BSE against the issue price of […]

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Bharat Forge shares up 2% on bagging Rs 178 crore order from Defence Ministry for supply of Kalyani M4 vehicles

Bharat Forge share price was up over 2 percent intraday on February 23 after the company bagged an order worth Rs 178 crore. Bharat Forge Limited has received an order worth Rs 177.95 crore from the Indian Ministry of Defence for the supply of Kalyani M4 vehicles. Paramount Group and Bharat Forge announced cooperation to […]

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Hindalco share price up nearly 4% as brokerages bet on the stock, raise target price

share price added nearly 4 percent intraday on February 23 after various brokerages raised target price of the stock. The company board approved amending the dividend distribution policy on February 22. The objective of this policy is to provide clarity to stakeholders on the dividend distribution framework to be adopted by the company, it said […]

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Adani Enterprises share gains 2% on JV with EdgeConneX

share price added over 2 percent in early trade on February 23 after the company formed a joint venture (JV) with EdgeConneX. The company in a press release said that it has an establishment of a 50:50 joint venture with EdgeConneX. The JV will develop and operate data centres throughout India, leveraging the two partners […]

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RIL share price gains as company announces O2C business spin-off into 100% subsidiary

Reliance Industries (RIL) share price gained in the early trade on February 23 after the company said that it has initiated the process of carving out its Oil-to-Chemicals (O2C) business into an independent subsidiary. The company in a press release said that it will retain 100 percent management control of the subsidiary. In a notification […]

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RailTel IPO allotment status likely to be finalised today

The basis of allotment for RailTel Corporation of India Limited’s Rs 819-crore initial public offering (IPO) is expected to be finalised on February 23, 2021. The shares will get credited to the demat accounts of eligible investors around February 24, as per the schedule available in the prospectus. The company will refund money (if any […]

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