Month: March 2023

India’s Shriram Finance is looking to raise as much as 200 billion rupees ($2.44 billion) to fund its growth in the next financial year starting April, a senior company official told Reuters on Monday. The retail non-banking finance company (NBFC) aims to grow its assets under management (AUM) by 15% …

Continue reading “Shriram Finance aims to raise $2.44 bn in FY24 to fund growth: Official”

Tata Motors subsidiary Tata Technologies is heading for an initial public offering (IPO), almost two decades after IT bellwether Tata Consultancy Services became the last Tata group firm to test Indian public markets in 2004. Pune-based Tata Technologies’ IPO consists of an offer for sale up to 95.71 million shares, …

Continue reading “Tata Tech IPO: After 2 decades a Tata group firm will test public markets”

Paytm Payments Bank Limited (PPBL) has gone live with UPI LITE, a feature enabled by the National Payments Corporation of India (NPCI) for multiple small-value UPI transactions, thus empowering its users with lightning fast UPI payments, the company said on Thursday. With this, users can activate their UPI LITE accounts …

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Automobile retail sales in February saw a 16 per cent jump year-on-year (YoY), shows data released by the Federation of Automobile Dealers Association (FADA). The change in onboard diagnostics and the wedding season were the key drivers of growth in the month. However, the numbers were still below the pre-Covid-19 …

Continue reading “Retail auto sales up 16% YoY in Feb but still lower than pre-Covid level”

Bulls tightened grip on Dalal Street as benchmark indices Nifty50 rallied over 300 points or 1.7 per cent to hit day’s high of 17,628 levels in Friday’s intra-day trade. The S&P BSE Sensex, meanwhile, soared over 1,000 points or 1.7 per cent to claim day’s high of 59,930 levels. TRACK …

Continue reading “Bulls drive Sensex over 1,000 points higher: Here are top 3 reasons why”

Solar module makers including Reliance Industries Ltd. and Tata Power Co. are among bidders for Rs 19,500 billion ($2.4 billion) in financial incentives that India is offering to expand domestic manufacturing and curb panel imports from dominant producer China.Others showing interest include U.S. firm First Solar Inc. and Indian companies …

Continue reading “Reliance, Tata Power, others bid for Rs 19,500 cr solar incentives”

GST collections rose 12 per cent to over Rs 1.49 lakh crore in February, the finance ministry said on Wednesday. February 2023 witnessed the highest cess collection of Rs 11,931 crore since implementation of GST. The collections are, however, lower than the second highest Goods and Services Tax (GST) mop-up …

Continue reading “February GST collections rise 12% to Rs 1.49 trillion: Finance Ministry”