MUMBAI: After a muted start, Ola Electric Mobility shares surged to hit the maximum possible 20% upper circuit limit at Rs 91 on their first day of trading. The Rs 6,146-crore IPO for Ola Electric was the biggest in India in the last two years.The strong closing that translated to a market capitalisation of a…
MUMBAI: The share of motor insurance in non-life industry premiums has slipped below 30% for the first time following a slowdown in car sales, even as health cover premiums continue to race ahead.The non-life industry wrote premium of Rs 72,758 crore up to June-end, according to segment-wise industry data released by the General Insurance Council….
MUMBAI: Mumbai: A resilient economy in the face of global volatility, which lifted the equity markets to new highs in July, prompted retail investors to repose their faith in mutual funds and continue their investments through this asset class.As a result, the monthly flows through the SIP route jumped to an all-time high of Rs…
MUMBAI: HDFC Bank MD & CEO Sashidhar Jagdishan said that the banking landscape had changed dramatically after the lender decided to merge parent HDFC with itself in April 2022, but the bank was not apologetic about the decision.In a candid admission of how things have not gone according to plan because of the change in…
NEW DELHI: State-run ONGC will make an additional equity infusion of Rs 18,365 crore in OPaL (ONGC Petro-additions) for raising its stake in the petrochemicals company as part of a capital restructuring plan for bringing about operational and financial sustainability.A statement on Friday said the govt has cleared the plan, which will see ONGC’s stake…
NEW DELHI: India has witnessed the fastest growth in intangible investments over a nine-year period (2011-2020), surpassing major economies like the US, France, Germany & the UK, indicating high level of value creation by companies.In terms of absolute levels of intangible investments for 2020 (latest year for which data is available), India ranks 14th among…
MUMBAI: India’s forex reserves jumped by $7.5 billion to a new record high of $ 675 billion for the week ended Aug 2, RBI said on Friday. The overall kitty had dropped by $3.5 billion to $667.4 billion in the previous reporting week ended July 26. The previous high for the reserves had stood at…
BENGALURU: HCLSoftware, the software business division of HCLTech, is acquiring French software company Zeenea for 24 million euros. Zeenea provides an intelligent data discovery platform that supports metadata management applications from search and exploration to data catalogue, lineage, etc. Source link
NEW DELHI: IndianOil plans to raise oil refining capacity by a quarter to meet rising energy needs its chairman S M Vaidya said on Friday. India’s oil demand is likely to surge from 5.4 million barrels per day in 2023 to 8.3 million barrels per day by 2050. Source link
PORTLAND: Wildfires in Oregon have burned more acres of land in 2024 than in any year since reliable records began, authorities said Friday, with the mid-August peak of fire season still on the horizon.Blazes have scorched more than 1.4 million acres, or nearly 2,200 square miles (5,700 square kilometers), Northwest Interagency Coordination Center spokesperson Carol…
