Industry players suggest that the Centre may have to approach regulation, considering the fast-paced technological innovation within the sector
Posts in category Business Standard
Promoters cash out tops Rs 87,000 crore in the first half of 2024 (01-07-2024)
Analysts say this year’s sell-downs by promoters as well as private equity (PE) firms were underpinned by a ‘benign exit environment’ and were across sectors
Enviro Infra Engineers files draft papers with Sebi to garner funds via IPO (01-07-2024)
Enviro Infra Engineers, which is involved in the development of turnkey projects of sewage treatment plants and sewerage system, has filed draft papers with markets regulator Sebi to garner funds through an initial public offering (IPO).
The city-based company’s proposed IPO is a combination of fresh issue of 4.42 crore equity shares and an offer for sale (OFS) component of 52.68 lakh shares by promoters, according to the draft red herring prospectus (DRHP) filed last week.
At present, promoters hold over 93 per cent stake in the company.
Proceeds from the fresh issue to the tune of Rs 181 crore will be used to meet the working capital requirements, Rs 100 crore will be used for payment of debt, Rs 30 crore will be infused into the company’s subsidiary, EIEL Mathura Infra Engineers, to build 60 million litres per day Sewage Treatment Plant (STP) at Mathura in Uttar Pradesh.
Besides, a portion will be used for general corporate purposes.
Enviro Infra Engineers is engaged in designi
ICICI Prudential MF to float energy-focused fund; NFO to open on July 2 (01-07-2024)
ICICI Prudential Mutual Fund is set to float its new scheme focusing on the energy sector on Tuesday, a move that will provide investment opportunities in this space.
The energy theme involves a wide range of industries, including oil & gas, bio energy value chain, and lubricants, among others.
The new fund offer (NFO) of ICICI Prudential Energy Opportunities Fund will open on July 2 and conclude on July 16, the MF house said.
“With the ongoing transition towards renewable energy and the government’s focus on achieving net-zero emissions, the energy theme offers significant growth potential. Through this scheme, investors can gain access to a diversified portfolio of companies across the energy value chain,” ICICI Prudential MF CIO Sankaran Naren said.
The open-ended scheme aims to generate long-term capital appreciation by investing predominantly in equity and equity-related instruments of companies engaged in traditional and new energy industries as well as allied businesses.
India and ASEAN Countries to Create a Platform to Facilitate Instantaneous Cross-Border Retail Payments (01-07-2024)
Reserve Bank of India (RBI) and ASEAN Countries are set to create a platform to facilitate instantaneous cross-border retail payments. Reserve Bank of India has been collaborating bilaterally with various countries to link India’s Fast Payments System (FPS) – the Unified Payments Interface (UPI), with their respective FPSs for cross-border Person to Person (P2P) and Person to Merchant (P2M) payments. While India and its partner countries can continue to benefit through such bilateral connectivity of Fast Payment Systems, a multilateral approach will provide further impetus to our efforts in expanding the international reach of Indian payment systems.
Coal India production up 8% & Offtake up 6% in Q1 FY25 (01-07-2024)
Coal India Limited (CIL) raised its coal production to 189.3 million tonnes (MTs) in the first quarter ending, June FY 2025. This was 13.8 MTs more in volume terms compared to corresponding quarter of FY 2024 posting nearly 8% growth. Production during last fiscal’s same period was 175.5 MTs.
Pound Speculators Continue To Reduce Net Long Positions (01-07-2024)
Large currency speculators continued to reduce net long position in the Pound futures, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Pound futures, traded by large speculators and hedge funds, totaled a net long position of 44,048 contracts in the data reported through June 25, 2024. This was a weekly fall of 3573 net contracts.
Mahindra & Mahindra June sales volumes jump 11% (01-07-2024)
In the Utility Vehicles segment, Mahindra sold 40,022 vehicles in the domestic market, a growth of 23% and overall, 40,644 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 20,594.
Ashok Leyland slides as total sales slips 2% YoY in June’24 (01-07-2024)
Ashok Leyland declined 1.26% to Rs 238.70 after the company said that its total vehicle sales fell 1.84% to 14,940 units in June 2024 from 15,221 units in June 2023.
PVR Inox rallies 6%, hits over 5-month high on recovery hopes (01-07-2024)
According to reports, Kalki 2898 AD, the film which was released in theatres last week, has been minting money across the globe