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IndiaTV Business: Google News Feed: Digest for June 06, 2023

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Stock markets: Equity benchmark indices bounced back in early trade on Friday after two days of fall, following a positive trend in global markets. Also, automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra reporting robust wholesales of passenger vehicles in the domestic market in May and GST collections crossing Rs 1.50 lakh crore for the third month in a row, recording 12 per cent increase in May, added to the optimism.
Cape Town: The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre.
From YouTube CEO Neal Mohan to Google CEO Sunder Pichai to Laxman Narasimhan of Starbucks, at least two dozen Indian-origin CEOs have not only managed global businesses but also exceeded India's current GDP. According to reports, 24 Indian CEO-led global companies - with a collective market value overtaking $5 trillion --surpassed India's current GDP.
Swaraj Tractors on Friday launched a new range of compact lightweight tractors with price starting from Rs 5.35 lakh (ex-showroom).  The company said it has decided to roll out two models -- Target 630 and Target 625 -- in 20-30 HP category under the new Target range.
As the government aims to make India the global manufacturing hub and increase the sector's GDP share to 25 per cent from the existing 16 per cent, leading steel pipes maker Rama Steel Tubes has posted strong numbers in the January to March quarter led by strong demand in for iron and steel products.
Regulator Irdai on Friday directed SBI Life Insurance Company to takeover the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC.
Asserting that India deserves to have international non-stop connectivity to more destinations, Air India chief Campbell Wilson has said the country has in some respect not been able to control its own destiny as a consequence of not having a healthy domestic airline industry. Wilson, who is piloting Air India's massive expansion plans in terms of fleet as well as routes, also said that IndiGo succeeding well and Tata airlines coming together provides a good competitor to the strength of IndiGo.

Hardwyn India shares to turn ex-bonus, split tomorrow

Sunday 04 June 2023 06:47 AM UTC+00
Hardwyn India shares are in focus ever since the company approved sub-division of equity shares and bonus issuance. The shares of the architectural hardware maker will turn ex-date for bonus and sub-division on Monday (June 5). 

Walmart shareholding in PhonePe drops to 85 per cent

Sunday 04 June 2023 09:10 AM UTC+00
New Delhi: Retail giant Walmart's shareholding in decacorn fintech firm PhonePe has dropped to 85 per cent from 89 per cent following its ongoing fundraise of USD 1 billion, the US based firm said. PhonePe has now raised a total of USD 850 million of primary capital in the current round till the end of May.
Metals company Manaksia Limited has announced to pay dividend to its shareholders for the financial year 2022-23. The company has informed exchanges that its board at a meeting has recommended Rs 3 dividend per equity share.
Cape Town: The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre.
From YouTube CEO Neal Mohan to Google CEO Sunder Pichai to Laxman Narasimhan of Starbucks, at least two dozen Indian-origin CEOs have not only managed global businesses but also exceeded India's current GDP. According to reports, 24 Indian CEO-led global companies - with a collective market value overtaking $5 trillion --surpassed India's current GDP.
Swaraj Tractors on Friday launched a new range of compact lightweight tractors with price starting from Rs 5.35 lakh (ex-showroom).  The company said it has decided to roll out two models -- Target 630 and Target 625 -- in 20-30 HP category under the new Target range.
As the government aims to make India the global manufacturing hub and increase the sector's GDP share to 25 per cent from the existing 16 per cent, leading steel pipes maker Rama Steel Tubes has posted strong numbers in the January to March quarter led by strong demand in for iron and steel products.
Regulator Irdai on Friday directed SBI Life Insurance Company to takeover the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC.
Asserting that India deserves to have international non-stop connectivity to more destinations, Air India chief Campbell Wilson has said the country has in some respect not been able to control its own destiny as a consequence of not having a healthy domestic airline industry. Wilson, who is piloting Air India's massive expansion plans in terms of fleet as well as routes, also said that IndiGo succeeding well and Tata airlines coming together provides a good competitor to the strength of IndiGo.

Hardwyn India shares to turn ex-bonus, split today

Sunday 04 June 2023 06:47 AM UTC+00
Hardwyn India shares are in focus ever since the company approved sub-division of equity shares and bonus issuance. The shares of the architectural hardware maker will turn ex-date for bonus and sub-division on Monday (June 5). 

Walmart shareholding in PhonePe drops to 85 per cent

Sunday 04 June 2023 09:10 AM UTC+00
New Delhi: Retail giant Walmart's shareholding in decacorn fintech firm PhonePe has dropped to 85 per cent from 89 per cent following its ongoing fundraise of USD 1 billion, the US based firm said. PhonePe has now raised a total of USD 850 million of primary capital in the current round till the end of May.
Metals company Manaksia Limited has announced to pay dividend to its shareholders for the financial year 2022-23. The company has informed exchanges that its board at a meeting has recommended Rs 3 dividend per equity share.
The group of oil-producing countries resolved on Sunday to extend oil production curbs through 2024 as petrol prices remained stable, according to The Hill. The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC Plus, met on Sunday and resolved to prolong the oil output cutbacks under the leadership of Russia and Saudi Arabia.
From YouTube CEO Neal Mohan to Google CEO Sunder Pichai to Laxman Narasimhan of Starbucks, at least two dozen Indian-origin CEOs have not only managed global businesses but also exceeded India's current GDP. According to reports, 24 Indian CEO-led global companies - with a collective market value overtaking $5 trillion --surpassed India's current GDP.
Swaraj Tractors on Friday launched a new range of compact lightweight tractors with price starting from Rs 5.35 lakh (ex-showroom).  The company said it has decided to roll out two models -- Target 630 and Target 625 -- in 20-30 HP category under the new Target range.
As the government aims to make India the global manufacturing hub and increase the sector's GDP share to 25 per cent from the existing 16 per cent, leading steel pipes maker Rama Steel Tubes has posted strong numbers in the January to March quarter led by strong demand in for iron and steel products.
Regulator Irdai on Friday directed SBI Life Insurance Company to takeover the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC.
Asserting that India deserves to have international non-stop connectivity to more destinations, Air India chief Campbell Wilson has said the country has in some respect not been able to control its own destiny as a consequence of not having a healthy domestic airline industry. Wilson, who is piloting Air India's massive expansion plans in terms of fleet as well as routes, also said that IndiGo succeeding well and Tata airlines coming together provides a good competitor to the strength of IndiGo.

Hardwyn India shares to turn ex-bonus, split today

Sunday 04 June 2023 06:47 AM UTC+00
Hardwyn India shares are in focus ever since the company approved sub-division of equity shares and bonus issuance. The shares of the architectural hardware maker will turn ex-date for bonus and sub-division on Monday (June 5). 

Walmart shareholding in PhonePe drops to 85 per cent

Sunday 04 June 2023 09:10 AM UTC+00
New Delhi: Retail giant Walmart's shareholding in decacorn fintech firm PhonePe has dropped to 85 per cent from 89 per cent following its ongoing fundraise of USD 1 billion, the US based firm said. PhonePe has now raised a total of USD 850 million of primary capital in the current round till the end of May.
Metals company Manaksia Limited has announced to pay dividend to its shareholders for the financial year 2022-23. The company has informed exchanges that its board at a meeting has recommended Rs 3 dividend per equity share.
The group of oil-producing countries resolved on Sunday to extend oil production curbs through 2024 as petrol prices remained stable, according to The Hill. The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC Plus, met on Sunday and resolved to prolong the oil output cutbacks under the leadership of Russia and Saudi Arabia.
Mumbai: Benchmark indices started the trade on a firm note on Monday with the Sensex climbing over 367.98 points amid an optimistic trend in global markets. The 30-share BSE Sensex jumped 367.98 points to 62,915.09 in early trade. The NSE Nifty advanced 75.35 points to 18,609.50.
Swaraj Tractors on Friday launched a new range of compact lightweight tractors with price starting from Rs 5.35 lakh (ex-showroom).  The company said it has decided to roll out two models -- Target 630 and Target 625 -- in 20-30 HP category under the new Target range.
Regulator Irdai on Friday directed SBI Life Insurance Company to takeover the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC.
Asserting that India deserves to have international non-stop connectivity to more destinations, Air India chief Campbell Wilson has said the country has in some respect not been able to control its own destiny as a consequence of not having a healthy domestic airline industry. Wilson, who is piloting Air India's massive expansion plans in terms of fleet as well as routes, also said that IndiGo succeeding well and Tata airlines coming together provides a good competitor to the strength of IndiGo.

Hardwyn India shares to turn ex-bonus, split today

Sunday 04 June 2023 06:47 AM UTC+00
Hardwyn India shares are in focus ever since the company approved sub-division of equity shares and bonus issuance. The shares of the architectural hardware maker will turn ex-date for bonus and sub-division on Monday (June 5). 

Walmart shareholding in PhonePe drops to 85 per cent

Sunday 04 June 2023 09:10 AM UTC+00
New Delhi: Retail giant Walmart's shareholding in decacorn fintech firm PhonePe has dropped to 85 per cent from 89 per cent following its ongoing fundraise of USD 1 billion, the US based firm said. PhonePe has now raised a total of USD 850 million of primary capital in the current round till the end of May.
Metals company Manaksia Limited has announced to pay dividend to its shareholders for the financial year 2022-23. The company has informed exchanges that its board at a meeting has recommended Rs 3 dividend per equity share.
The group of oil-producing countries resolved on Sunday to extend oil production curbs through 2024 as petrol prices remained stable, according to The Hill. The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC Plus, met on Sunday and resolved to prolong the oil output cutbacks under the leadership of Russia and Saudi Arabia.
Mumbai: Benchmark indices started the trade on a firm note on Monday with the Sensex climbing over 367.98 points amid an optimistic trend in global markets. The 30-share BSE Sensex jumped 367.98 points to 62,915.09 in early trade. The NSE Nifty advanced 75.35 points to 18,609.50.
Mahindra Group on Monday said it has appointed Amarjyoti Barua as Executive Vice President, Group Strategy. In this role, he will lead the Group Strategy Office, working closely with the overall portfolio of businesses.
RO Jewels, a small cap company engaged in the wholesale business of gold and silver chains, has posted stellar numbers in the financial year 2022-23 as its revenue jumped more than 900 per cent to Rs 506 crore.
Swaraj Tractors on Friday launched a new range of compact lightweight tractors with price starting from Rs 5.35 lakh (ex-showroom).  The company said it has decided to roll out two models -- Target 630 and Target 625 -- in 20-30 HP category under the new Target range.
Regulator Irdai on Friday directed SBI Life Insurance Company to takeover the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC.
Asserting that India deserves to have international non-stop connectivity to more destinations, Air India chief Campbell Wilson has said the country has in some respect not been able to control its own destiny as a consequence of not having a healthy domestic airline industry. Wilson, who is piloting Air India's massive expansion plans in terms of fleet as well as routes, also said that IndiGo succeeding well and Tata airlines coming together provides a good competitor to the strength of IndiGo.

Hardwyn India shares to turn ex-bonus, split today

Sunday 04 June 2023 06:47 AM UTC+00
Hardwyn India shares are in focus ever since the company approved sub-division of equity shares and bonus issuance. The shares of the architectural hardware maker will turn ex-date for bonus and sub-division on Monday (June 5). 

Walmart shareholding in PhonePe drops to 85 per cent

Sunday 04 June 2023 09:10 AM UTC+00
New Delhi: Retail giant Walmart's shareholding in decacorn fintech firm PhonePe has dropped to 85 per cent from 89 per cent following its ongoing fundraise of USD 1 billion, the US based firm said. PhonePe has now raised a total of USD 850 million of primary capital in the current round till the end of May.
Metals company Manaksia Limited has announced to pay dividend to its shareholders for the financial year 2022-23. The company has informed exchanges that its board at a meeting has recommended Rs 3 dividend per equity share.
The group of oil-producing countries resolved on Sunday to extend oil production curbs through 2024 as petrol prices remained stable, according to The Hill. The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC Plus, met on Sunday and resolved to prolong the oil output cutbacks under the leadership of Russia and Saudi Arabia.
Mumbai: Benchmark indices started the trade on a firm note on Monday with the Sensex climbing over 367.98 points amid an optimistic trend in global markets. The 30-share BSE Sensex jumped 367.98 points to 62,915.09 in early trade. The NSE Nifty advanced 75.35 points to 18,609.50.
Mahindra Group on Monday said it has appointed Amarjyoti Barua as Executive Vice President, Group Strategy. In this role, he will lead the Group Strategy Office, working closely with the overall portfolio of businesses.
RO Jewels, a small cap company engaged in the wholesale business of gold and silver chains, has posted stellar numbers in the financial year 2022-23 as its revenue jumped more than 900 per cent to Rs 506 crore.
Regulator Irdai on Friday directed SBI Life Insurance Company to takeover the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC.
Asserting that India deserves to have international non-stop connectivity to more destinations, Air India chief Campbell Wilson has said the country has in some respect not been able to control its own destiny as a consequence of not having a healthy domestic airline industry. Wilson, who is piloting Air India's massive expansion plans in terms of fleet as well as routes, also said that IndiGo succeeding well and Tata airlines coming together provides a good competitor to the strength of IndiGo.

Hardwyn India shares to turn ex-bonus, split today

Sunday 04 June 2023 06:47 AM UTC+00
Hardwyn India shares are in focus ever since the company approved sub-division of equity shares and bonus issuance. The shares of the architectural hardware maker will turn ex-date for bonus and sub-division on Monday (June 5). 

Walmart shareholding in PhonePe drops to 85 per cent

Sunday 04 June 2023 09:10 AM UTC+00
New Delhi: Retail giant Walmart's shareholding in decacorn fintech firm PhonePe has dropped to 85 per cent from 89 per cent following its ongoing fundraise of USD 1 billion, the US based firm said. PhonePe has now raised a total of USD 850 million of primary capital in the current round till the end of May.
Metals company Manaksia Limited has announced to pay dividend to its shareholders for the financial year 2022-23. The company has informed exchanges that its board at a meeting has recommended Rs 3 dividend per equity share.
The group of oil-producing countries resolved on Sunday to extend oil production curbs through 2024 as petrol prices remained stable, according to The Hill. The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC Plus, met on Sunday and resolved to prolong the oil output cutbacks under the leadership of Russia and Saudi Arabia.
Mumbai: Benchmark indices started the trade on a firm note on Monday with the Sensex climbing over 367.98 points amid an optimistic trend in global markets. The 30-share BSE Sensex jumped 367.98 points to 62,915.09 in early trade. The NSE Nifty advanced 75.35 points to 18,609.50.
Mahindra Group on Monday said it has appointed Amarjyoti Barua as Executive Vice President, Group Strategy. In this role, he will lead the Group Strategy Office, working closely with the overall portfolio of businesses.
RO Jewels, a small cap company engaged in the wholesale business of gold and silver chains, has posted stellar numbers in the financial year 2022-23 as its revenue jumped more than 900 per cent to Rs 506 crore.
Embattled Adani Group on Monday said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. In a Credit Note released on Monday, Adani Group said it has made a full prepayment of USD 2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms and also another USD 700 million in loans taken for the acquisition of Ambuja Cement. "The prepayment was done along with interest payment of USD 203 million," it added.

Hardwyn India shares to turn ex-bonus, split today

Sunday 04 June 2023 06:47 AM UTC+00
Hardwyn India shares are in focus ever since the company approved sub-division of equity shares and bonus issuance. The shares of the architectural hardware maker will turn ex-date for bonus and sub-division on Monday (June 5). 

Walmart shareholding in PhonePe drops to 85 per cent

Sunday 04 June 2023 09:10 AM UTC+00
New Delhi: Retail giant Walmart's shareholding in decacorn fintech firm PhonePe has dropped to 85 per cent from 89 per cent following its ongoing fundraise of USD 1 billion, the US based firm said. PhonePe has now raised a total of USD 850 million of primary capital in the current round till the end of May.
Metals company Manaksia Limited has announced to pay dividend to its shareholders for the financial year 2022-23. The company has informed exchanges that its board at a meeting has recommended Rs 3 dividend per equity share.
The group of oil-producing countries resolved on Sunday to extend oil production curbs through 2024 as petrol prices remained stable, according to The Hill. The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC Plus, met on Sunday and resolved to prolong the oil output cutbacks under the leadership of Russia and Saudi Arabia.
Mumbai: Benchmark indices started the trade on a firm note on Monday with the Sensex climbing over 367.98 points amid an optimistic trend in global markets. The 30-share BSE Sensex jumped 367.98 points to 62,915.09 in early trade. The NSE Nifty advanced 75.35 points to 18,609.50.
Mahindra Group on Monday said it has appointed Amarjyoti Barua as Executive Vice President, Group Strategy. In this role, he will lead the Group Strategy Office, working closely with the overall portfolio of businesses.
RO Jewels, a small cap company engaged in the wholesale business of gold and silver chains, has posted stellar numbers in the financial year 2022-23 as its revenue jumped more than 900 per cent to Rs 506 crore.
Embattled Adani Group on Monday said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. In a Credit Note released on Monday, Adani Group said it has made a full prepayment of USD 2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms and also another USD 700 million in loans taken for the acquisition of Ambuja Cement. "The prepayment was done along with interest payment of USD 203 million," it added.
RBI Governor Shaktikanta Das on Monday launched a financial inclusion dashboard named 'Antardrishti'. As the name suggests, the dashboard will provide the required insight to assess and monitor the progress of financial inclusion by capturing relevant parameters, the Reserve Bank of India (RBI) said in a statement.
In times characterized by fiscal instability and erratic market conditions, savvy investors are always looking for ways to develop and safeguard their assets. In these circumstances, commercial property has emerged as a tempting investment opportunity, presenting distinct benefits and the possibility for long-term prosperity. In recent years, commercial ownership has emerged to be among the most profitable investment possibilities. The explanations for this upsurge are several, ranging from the possibility of high rental returns to rising demand for commercial space and the asset class's general stability. Commercial real estate has attracted the interest of investors searching for a lucrative outlet that's capable of withstanding economic swings due to its great returns, stability, and diversification benefits.

Hardwyn India shares to turn ex-bonus, split today

Sunday 04 June 2023 06:47 AM UTC+00
Hardwyn India shares are in focus ever since the company approved sub-division of equity shares and bonus issuance. The shares of the architectural hardware maker will turn ex-date for bonus and sub-division on Monday (June 5). 

Walmart shareholding in PhonePe drops to 85 per cent

Sunday 04 June 2023 09:10 AM UTC+00
New Delhi: Retail giant Walmart's shareholding in decacorn fintech firm PhonePe has dropped to 85 per cent from 89 per cent following its ongoing fundraise of USD 1 billion, the US based firm said. PhonePe has now raised a total of USD 850 million of primary capital in the current round till the end of May.
Metals company Manaksia Limited has announced to pay dividend to its shareholders for the financial year 2022-23. The company has informed exchanges that its board at a meeting has recommended Rs 3 dividend per equity share.
The group of oil-producing countries resolved on Sunday to extend oil production curbs through 2024 as petrol prices remained stable, according to The Hill. The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC Plus, met on Sunday and resolved to prolong the oil output cutbacks under the leadership of Russia and Saudi Arabia.
Mumbai: Benchmark indices started the trade on a firm note on Monday with the Sensex climbing over 367.98 points amid an optimistic trend in global markets. The 30-share BSE Sensex jumped 367.98 points to 62,915.09 in early trade. The NSE Nifty advanced 75.35 points to 18,609.50.
Mahindra Group on Monday said it has appointed Amarjyoti Barua as Executive Vice President, Group Strategy. In this role, he will lead the Group Strategy Office, working closely with the overall portfolio of businesses.
RO Jewels, a small cap company engaged in the wholesale business of gold and silver chains, has posted stellar numbers in the financial year 2022-23 as its revenue jumped more than 900 per cent to Rs 506 crore.
Embattled Adani Group on Monday said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. In a Credit Note released on Monday, Adani Group said it has made a full prepayment of USD 2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms and also another USD 700 million in loans taken for the acquisition of Ambuja Cement. "The prepayment was done along with interest payment of USD 203 million," it added.
RBI Governor Shaktikanta Das on Monday launched a financial inclusion dashboard named 'Antardrishti'. As the name suggests, the dashboard will provide the required insight to assess and monitor the progress of financial inclusion by capturing relevant parameters, the Reserve Bank of India (RBI) said in a statement.
In times characterized by fiscal instability and erratic market conditions, savvy investors are always looking for ways to develop and safeguard their assets. In these circumstances, commercial property has emerged as a tempting investment opportunity, presenting distinct benefits and the possibility for long-term prosperity. In recent years, commercial ownership has emerged to be among the most profitable investment possibilities. The explanations for this upsurge are several, ranging from the possibility of high rental returns to rising demand for commercial space and the asset class's general stability. Commercial real estate has attracted the interest of investors searching for a lucrative outlet that's capable of withstanding economic swings due to its great returns, stability, and diversification benefits.
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