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Shares of Bajaj Finserv and Bajaj Finance rose on Monday ahead of the announcement of mortgage lender Bajaj Housing Finance's Rs 7,000 crore initial public offering (IPO).The IPO is expected to Effectual the market during the first half of September.The IPO will have a special quota for shareholders of Bajaj Finserv and Bajaj Finance, both of which are classified as 'promoters'.Shares of Bajaj Finserv rose 2.84 percent, while Bajaj Finance gained 0.6 percent. Bajaj Finance holds 100 percent stake in Bajaj Housing, while Bajaj Finserv holds 51.34 percent stake in Bajaj Finance. Bajaj Housing's IPO will involve a share sale of Rs 3,000 crore by Bajaj Finance and a fresh fund raising of Rs 4,000 crore.The fresh funds will be raised to boost its capital base for future borrowing requirements....

"Vietnam electricity exports boost, India's imports increased by 17%".India has seen a significant increase in imports of electrical machinery and parts from Vietnam in the first seven months of 2024. Imports from Vietnam rose 17% to $5.8 billion between January and July, according to analyzed commerce ministry data. Same period last year.A closer look at trade numbers shows that electrical machinery and parts, which make up a large share of imports from Vietnam, grew by a substantial 43% in the first 5 months of 2024 compared to a year earlier. This strong double-digit growth highlights Vietnam's growing prominence as a leading supplier of electrical goods and components to the Indian market.Experts attribute Vietnam's export success to Chinese companies shifting their operating bases to...

The rupee traded in a tight range and rose 5 paise to 83.88 against the US dollar in morning trade on Friday, supported by softening crude oil prices and fresh foreign fund inflows.Forex traders said the significant improvement in oil prices, which are around US$77 per barrel, is a big positive sign for the rupee, given India's substantial oil imports.At the interbank forex market, the local unit opened at 83.93 and then gained ground to touch 83.88, registering a rise of 5 paise from its previous close.Amit Pabari, MD, CR Forex Advisors said that “Despite the dollar index hitting recent lows, the Indian rupee remains stable, showing little signs of strengthening. This resilience can be attributed to the central bank's deliberate interventions aimed at stabilizing the USDINR around the 83...

According to a latest report released by Bank of Baroda (BoB), the employment scenario in the Indian corporate sector looks bleak.The public sector bank, based on an analysis of balance sheets of 1,196 companies, pegged the employment growth rate at 1.5% in FY24, down from 5.7% in FY23.In absolute terms, companies added less than 100,000 employees in FY2024, compared to 333,000 in FY23.The reason for the decline in employment growth rate is the increase in hiring after the pandemic in FY 2023. According to the report, the same financial year also saw significant attrition including voluntary and involuntary resignations. However, the need to increase employment was not as evident in FY2014, especially as some sectors rationalized staff based on business requirements.The IT sector, with ab...

Mumbai: Private sector capital expenditure is expected to grow by 54% in a year to reach Rs 2.45 lakh crore in 2024-25, compared to Rs 1.59 lakh crore in 2023-24, according to a study issued by the RBI.This significant inflation due to increasing domestic demand, improving corporate profitability, sustained credit demand, business optimism and government focus on infrastructure development.The analysis, which is based on projects sanctioned by banks and financial institutions during FY24, shows that the total cost of these projects has reached a record Rs 3.91 lakh crore, with 54% of the planned investment expected to be completed by the end of the financial year. Expected to be completed. Year. Total capital investment across various funding channels by the private corporate sector in FY...

The issue comprises fresh equity sale of ₹2,000 crore and offer for sale (OFS) of ₹2,000 crore.The funds are to be used to set up a cement unit in Nagaur district of Rajasthan, repay certain borrowings and for other general purposes.The company said that it will invest ₹3,000 crore for the greenfield Rajasthan unit, and said it plans to expand into the North and Central India markets, as its current presence is mainly in Southeast and West India.The group's energy, ports and steel businesses are already listed. JSW Infrastructure is the latest before JSW Cement.JSW Cement MD and JSW Group scion Parth Jindal had revealed the listing plan in August 2023 and said the proceeds are to be used to achieve the group's 60 million tonne per annum (MTPA) plan. At present, it produces 20.60 MTPA.JSW ...

IT solutions provider Black Box Ltd announced a 55 percent year-on-year rise in profit after tax (PAT) for the quarter ending June 30, 2024, reaching Rs 37 crore. PAT margin improved to 2.6 percent. An inflation of 110 basis points from last year. Black Box has also reported 28 percent year-on-year growth in EBITDA to Rs 115 crore in the quarter and is making efforts to achieve 9% EBITDA margin by the end of this financial year.Revenue for the quarter unbend at Rs 1,423 crore compared to Rs 1,571 crore in the first quarter of the last financial year. Despite this, the company's pipeline remains strong, with the order book growing to $475 million by June 30, 2024.Commenting on the results and performance, Sanjeev Verma, Whole-Time Director, Black Box, said that, “Our strategic exit from lo...

New Delhi: Budget carrier SpiceJet Ltd on Wednesday reported a consolidated net profit of ₹158.2 crore for the quarter ended June 30, down 20% from a consolidated net profit of ₹197.6 crore a year ago.While the airline's total income declined by 8.3% to ₹2,077.8 crore, its total expenses declined by more than 7% year-on-year to ₹1,919.6 crore.In July, the Gurugram-based carrier reported its earnings for the December and March quarter of 2023-24 after a wait of more than six months. The airline reported a net loss of ₹299 crore in the December quarter and a net profit of ₹126.9 crore in the March quarter.SpiceJet is embroiled in a legal battle over payment of dues to aircraft lessors, vendors and suppliers and is facing contempt notices from the Delhi High Court and the National Company La...

New Delhi, August 13India's industrial output decrease to a 5-month low of 4.2% in June 2024, according to official data released on Monday, mainly due to the poor performance of the manufacturing sector, although the power and mining sectors continued to perform well.Factory output inflation, measured in terms of the Index of Industrial Production (IIP), stood at 6.2 percent in May, 5% in April, 5.5% in March, 5.6% in February and 4.2% in January 2024.During the April-June period of the current financial year, IIP growth was 5.2% as against 4.7% in the same period last fiscal.India's index of industrial production gain by 4 percent in June 2023, according to a statement from the Ministry of Statistics and Program Implementation.Manufacturing sector growth slowed to 2.6 percent in June, f...