💰 Highest dividend-paying companies of FY20-21!
Fri, Sep 3, 2021 10:00 PM

💰 Highest dividend-paying companies of FY20-21!

A dividend is the distribution of a part of a company's profits to its shareholders, as determined by the company's board of directors. Top 5 dividend-paying companies of FY20-21 (along with the dividend yield) : [1] ITC (Rs 18,881 cr, 5.12%), [2] Hindustan Zinc (Rs 15,972 cr, 6.54%), [3] TCS (Rs 10,907 cr, 0.99%), [4] Infosys (Rs 9,137 cr, 1.61%), and [5] Vedanta (Rs 9,122 cr, 3.12%).

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Investor wealth surge Rs 4 lakh crore in two days
Fri, Sep 3, 2021 9:31 PM

Investor wealth surge Rs 4 lakh crore in two days

Investors' wealth grew by Rs 4 lakh crore in two days of a market rally, with the BSE benchmark Sensex scaling the 58,000-mark for the first time on Friday. Rising for the second straight day, the 30-share index grew 277.41 points or 0.48 per cent to its all-time closing peak of 58,129.95. During the day, it soared 342.25 points to its record high of 58,194.79.

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Flipkart co-founder moves Madras High Court challenging ED notice
Fri, Sep 3, 2021 9:24 PM

Flipkart co-founder moves Madras High Court challenging ED notice

Flipkart co-founder Sachin Bansal has moved the Madras High Court challenging a show-cause notice (SCN) dated July 1 this year issued by the Enforcement Directorate (ED), which held that he and another individual were personally responsible for the alleged violation of FDI policy involving a lurching amount of approximately Rs 23,000 crore.

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NCLAT issues notice on PNB's appeal against Jet Airways resolution plan
Fri, Sep 3, 2021 9:14 PM

NCLAT issues notice on PNB's appeal against Jet Airways resolution plan

Public sector lender Punjab National Bank (PNB) has proceeded with the Insolvency appellate tribunal NCLAT against the acceptance of bids for defunct airline Jet Airways. The National Company Law Appellate Tribunal (NCLAT) bench has issued a notice over the PNB's petition along with its interim plea seeking a stay over the execution of the resolution plan.

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Jefferies eyes multiple re-ratings, up to 70% upside in this Pepsi bottler
Fri, Sep 3, 2021 9:04 PM

Jefferies eyes multiple re-ratings, up to 70% upside in this Pepsi bottler

Thanks to nearly two-and-a-half fold returns since March lows, Varun Beverages has just recently set foot in the large-cap category, leaving its peers behind. But, this may be just the beginning of another leg of the rally. Varun Beverages, the PepsiCo bottler, is set to see a growth acceleration ahead, & we forecast 49 per cent EPS CAGR led by recovery in volumes, new launches, says the company.

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SBI internet banking, mobile app YONO to remain suspended on September 4
Fri, Sep 3, 2021 8:14 PM

SBI internet banking, mobile app YONO to remain suspended on September 4

The State bank of India on September 3 reported that its internet banking, Yono, Yono Lite, Yono Business, IMPS, and UPI will remain suspended on September 4 due to maintenance work. The services will be unavailable for 180 minutes i.e. from 22:35 hours on September 4 to 01:35 hours on September 5. SBI had also cautioned its customers to not click on emails offering free gifts.

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Ecommerce Platform Snapdeal looks for $400 Mn IPO: Report
Fri, Sep 3, 2021 8:09 PM

Ecommerce Platform Snapdeal looks for $400 Mn IPO: Report

Ecommerce platform Snapdeal has joined the campaign of Indian startups looking to lift money through the public market. As per a report, Snapdeal is considering an initial public offering (IPO) that could get them $400 Mn. The eCommerce platform is likely to list on the stock exchange next year. Snapdeal now joins the likes of Flipkart, Ola, OYO and others who are likely to go public next year.

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Mahindra Finance spends over Rs 2,000 cr in Aug
Fri, Sep 3, 2021 8:07 PM

Mahindra Finance spends over Rs 2,000 cr in Aug

Mahindra & Mahindra Financial Services (Mahindra Finance) on Friday reported it has spent over Rs 2,000 crore for the second time in a row in August. In August 2021, the business continued its momentum with the disbursement of more than Rs 2,000 crore for the second month in a row. The total disbursement at about Rs 2,150 crore delivered 57 per cent year on year growth.

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India's forex reserves soars $16.663 billion to record high of $633.558
Fri, Sep 3, 2021 8:03 PM

India's forex reserves soars $16.663 billion to record high of $633.558

The country’s foreign exchange reserves took off by $16.663 billion to touch a lifetime high of $633.558 billion in the week ended August 27, mainly due to a rise in Special Drawing Rights (SDR) holdings, RBI data showed. On Wednesday, RBI had said the International Monetary Fund (IMF) made an allotment of SDR 12.57 billion (equivalent to around $17.86 billion at the latest exchange rate).

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Scale key to leverage India’s digital payments potential
Fri, Sep 3, 2021 7:27 PM

Scale key to leverage India’s digital payments potential

PayU’s $4.7 billion buyouts of payment gateway BillDesk, which makes it the largest online payments company in India, gives it the economies of scale required for financial technology firms, or fintech, to stay in the game for the long drag. In the financial year 2021, the combined Total Payments Value (TPV) of PayU and BillDesk was $147 billion, contributed largely by the latter.

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Zomato closes its Singapore and UK-based subsidiaries
Fri, Sep 3, 2021 7:14 PM

Zomato closes its Singapore and UK-based subsidiaries

Food delivery firm Zomato has decided to close its Singapore and United Kingdom (UK)-based subsidiaries. The food technology company reported the closure of businesses in a stock exchange filing on September 1. The net worth of Zomato Media Private Limited (ZMPL) headquartered in Singapore is Rs 6.5 lakh, the filing revealed.

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HFCL to lift ₹750 cr through share sale
Fri, Sep 3, 2021 7:08 PM

HFCL to lift ₹750 cr through share sale

The board of HFCL Limited has accepted the proposal to lift funds to the tune of ₹750 crores during its meeting on Friday. In a regulatory filing, the company said that the fundraising proposal will now be submitted during the upcoming annual general meeting for shareholders' approval. The AGM will be held on September 30, 2021, through video conferencing or other audio visual means.

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SJVN Ltd aims 25 GW capacity by 2040
Fri, Sep 3, 2021 6:52 PM

SJVN Ltd aims 25 GW capacity by 2040

State-owned hydropower generator SJVN Ltd aims to have 25 gigawatts (GW) of capacity by 2040, the union power ministry said in a statement. It currently has a portfolio of 9 GW and is operating 27 projects in hydropower, thermal, solar and wind sectors in India, Bhutan, and Nepal. Nepal has a hydropower potential of around 43 GW, known to be technically feasible and economically viable.

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Crypto exchange OKEx introduces DeFi Hub with NFT marketplace in India
Fri, Sep 3, 2021 6:37 PM

Crypto exchange OKEx introduces DeFi Hub with NFT marketplace in India

Cryptocurrency spot & derivatives exchange OKEx has built a DeFi Hub in India. The Defi Hub, a decentralised digital asset ecosystem, will include two core products: NFT Marketplace & a DeFi dashboard. The end-to-end NFT platform will help creators & collectors buy, sell & trade NFTs directly. A Defi Hub allows users to view & manage decentralised assets across the major blockchain network.

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Delhi-NCR startups lifted $6.7 Bn funding across 270 deals in 2021
Fri, Sep 3, 2021 6:33 PM

Delhi-NCR startups lifted $6.7 Bn funding across 270 deals in 2021

As the Indian startup funding makes an all-time high with $26 Bn lifted in the first eight months of 2021, the startup ecosystem in Delhi-NCR observed a strong capital infusion in the same period, with $6.7 Bn lifted across 270 funding deals. The capital infusion was over three times the funding amount ($2.2 Bn across 162 deals) lifted in the same period last year by the Delhi-NCR startups.

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