The Securities and Exchange Board of India (SEBI) has taken strict action against PTC India Financial Services Ltd. (PFS) (a subsidiary of PTC) and its former leadership for lapses in corporate governance. The investigation, initiated following the resignation of independent directors citing governance concerns, has resulted in penalties and restrictions on: Pawan Singh: Former Managing …
Amber Enterprises India Limited (Amber), a leading manufacturer of air conditioners and room air conditioner components, announced today that it had acquired an additional 4.6% equity stake in IL JIN Electronics (India) Private Limited (IL JIN) on June 12, 2024. This strategic move strengthens Amber’s position within the printed circuit board (PCB) manufacturing industry. Strengthening …
Nestle India’s Board of Directors approved a hike in royalty payments to the Swiss parent company in April 2024. The hike would have led to an increase in royalty payments to 5.25% of net sales over the next 5 years, up from 4.5% effective 1 July. However, the company’s proposal was rejected by its shareholders …
Strong Performance of the Nifty IT Index On Thursday, the Nifty IT sector emerged as one of the top-performing sectors. The Nifty IT index experienced a gain of over 1%, driven by a robust rally in technology shares on Wall Street observed on Wednesday. OFSS Stock Surge One stock that caught significant attention on Thursday …
Indian benchmark indices started today’s trading session at new record highs, driven by optimism from India’s retail inflation easing to a 12-month low and strength in information technology stocks mirroring overnight gains in US markets. Additionally, real estate, consumer durables, capital goods and financial services stocks experienced an uptrend. At 10:30 am, the BSE Sensex …
On Thursday, the benchmark indices were trading in the green with the Sensex up around 215 points or 0.28% at 76,820, while the Nifty-50 was up around 73 points or 0.31% at 23,395. About 2,337 shares have advanced; 1,200 declined and 173 are unchanged on the BSE. Top gainers and losers on the BSE Sensex …
On June 13, 2024, AGS Transact Technologies Limited informed in a stock exchange filing that the company’s wholly-owned subsidiary, Securevalue India Ltd (SVIL), has established a new cash vault facility in Bengaluru, Karnataka. This state-of-the-art facility will provide world-class cash processing and vault services, and it is expected to improve the company’s cash management operations …
Whirlpool of India Ltd is one of the leading manufacturers and marketers of major home appliances in the country. The company’s product portfolio includes various types of refrigerators, washing machines, air conditioners, microwave ovens, built-in and small appliances. The company with Hindustan Unilever Ltd. has announced a joint marketing partnership with HUL’s Surf Excel. HUL …
On June 12, 2024, Saksoft Limited announced in a stock exchange filing the strategic acquisition of Augmento Labs, a digital engineering company based in Bangalore, Karnataka. This move aims to strengthen Saksoft’s capabilities and presence in the product engineering sector. The company stated that it expects the transaction to be finalised by the end of …
On June 13, 2024, One97 Communications Ltd, known for its platform Paytm, informed in an exchange filing that Samsung, India’s largest consumer electronics brand, has launched flight, bus, movie, and event ticket bookings on Samsung Wallet. This launch is in partnership with One97 Communications Ltd. The partnership aims to enhance consumer convenience by offering a …
