Shares of Godrej Consumer Products rose 6 percent intraday to Rs 948 on December 21, breaking a four-day losing streak. At 12:27 hrs, Godrej Consumer Products was quoting at Rs 929.10, up Rs 40.75, or 4.59 percent on the BSE. The stock touched a 52-week high of Rs 1,138.50 and a 52-week low of Rs 644 […]
Snapdeal IPO: Key risk factors listed on draft papers filed for Rs 1,250-crore issue
Online marketplace Snapdeal has filed a draft red herring prospectus with the Securities Exchange Board of India to raise Rs 1,250 crore through an initial public issue. Softbank, along with seven stakeholders such as Foxconn, Sequoia Capital and Ontario Teacher’s Pension Plan Board, will participate in the OFS for partial exits. Collectively, this amounts to […]
LIC valuation delay may push IPO plan beyond FY22, govt confident of issue this fiscal
The government is unlikely to come up with the IPO of Life Insurance Corporation (LIC) in the current financial year ending March 2022, as the valuation of the state-owned behemoth is taking more than anticipated time, and the preparatory work is still far from complete. There are still some issues that need to be addressed […]
Fuel prices in Sri Lanka hiked; govt says talks on with India for LoC
Sri Lanka’s state canvas reality and the Indian Oil Corporation’s original attachment have raised the prices of petrol and diesel amidst a severe foreign exchange extremity in the country indeed as the government said that accommodations are underway with India and Oman to work out credit lines for energy purchases. The state- run Ceylon Petroleum […]
Piramal Enterprises share price rises 4% after arm acquires stake in Yapan Bio
Shares of Piramal Enterprises rose 4 percent intraday to Rs 2,553.55 on December 21 after its arm acquired 27.8% stake in Yapan Bio. “Piramal Pharma, subsidiary of Piramal Enterprises, has entered into agreements and acquired 27.78 percent stake in Yapan Bio Private for an investment of Rs 101.77 crore (cash consideration),” the company said in its release. […]
Honda de Mexico initiates exports of NAVi bike to US market
Honda Motorcycle & Scooter India (HMSI) on Tuesday said Honda de Mexico has initiated exports of NAVi bike to the US market. HMSI had commenced export of NAVI CKD kits to Mexico in July 2021 and has so far dispatched over 5,000 kits to the country. “The NAVi deliveries to the US market via Honda […]
Wipro to acquire Edgile for $230 million
Wipro on Monday said it will acquire Austin, Texas-headquartered Edgile for $230 million, a move that will strengthen the IT major’s play in the cybersecurity services space. Edgile’s experienced cybersecurity and risk management professionals will allow Wipro to further enhance its cybersecurity and risk consulting capabilities for the benefit of its customers, a regulatory filing […]
Tech companies want two more years for tokenisation
Top technology and internet groupings are rushing to petition the country’s central bank seeking delayed implementation of its tokenisation mandate that requires online merchants to erase all stored payment details of customers by December 31. Global and local companies represented by trade bodies such as Nasscom and the Alliance of Digital India Foundation (ADIF) will […]
2022 Honda Passport goes upmarket with one monster price hike
This winter, the redesigned 2022 Honda Passport is arriving at dealerships with a significant price hike. The base Sport trim from the outgoing model is gone for 2022, making way for the new base EX-L trim with standard front-wheel drive (AWD remains a $2,100 option). With base prices starting at $39,095 (including $1,225 destination fees), […]
Porsche Vision Gran Turismo developed purely for the game
German automaker Porsche and Japanese video game expert Polyphony Digital has unveiled a new racing concept that exists purely in the digital realm. The Vision Gran Turismo is Porsche’s first video game concept car and will debut in the highly-anticipated Gran Turismo 7 for the PlayStation 4 and PlayStation 5 on March 4, 2022. For those old enough to […]