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  • L&T bags order from Rajasthan govt May 13, 2022 02:28 PM IST

    L&T bags order from Rajasthan govt

    According to L&T’s project classification, the value of the order falls between Rs 1,000-2,500 crore.

  • Govt raises $2.7 billion as LIC prices IPO at Rs 949; listing next week May 13, 2022 01:02 PM IST

    Govt raises $2.7 billion as LIC prices IPO at Rs 949; listing next week

    Life Insurance Corporation of India shares have been priced at 949 rupees each, the state-run firm said in a prospectus filed Friday. LIC shares were offered at 902 rupees to 949 rupees apiece. Trading on the stock exchange is due to begin May 17.

  • LIC Housing Finance ups home loan interest rate by 20 bps for select borrowers May 13, 2022 12:49 PM IST

    LIC Housing Finance ups home loan interest rate by 20 bps for select borrowers

    For borrowers with CIBIL score of 700 and above, the rate hike has been limited to only 20 bps, LIC Housing Finance said in a statement, adding that the revised rates are applicable from Friday.

  • Zipaworld Innovation plans to raise $0.5 million at $14 million valuation May 13, 2022 11:09 AM IST

    Zipaworld Innovation plans to raise $0.5 million at $14 million valuation

    The startup plans to harness the funds to mobilise and accelerate AI and ML-based logistics and supply chain services, anticipating market trends and risks as well as to support consequent research and development, among others, it said in a statement.

  • Zydus Lifesciences launches drug for treating bad cholesterol May 13, 2022 10:09 AM IST

    Zydus Lifesciences launches drug for treating bad cholesterol

    Bemdac (Bempedoic acid) is a new class of drug which is orally administered and offers a new line of treatment for patients suffering from uncontrolled levels of LDL-Cholesterol (LDL-c) despite lifestyle modifications and the use of maximum tolerated dose of statins, which form the cornerstone of dyslipidemia management, the company said in a regulatory filing.

  • NHPC awards contracts for 1,000-MW solar project May 13, 2022 09:45 AM IST

    NHPC awards contracts for 1,000-MW solar project

    NHPC Ltd has awarded EPC contracts for development of grid connected solar PV project (1,000 MW capacity) and transmission line for power evacuation to ISTS sub-station along with comprehensive operations and maintenance for 5 years under Tranche-III of CPSU Scheme Phase-11, it said.

  • Airtel, Jio drive telecom subscriber base to 116.6 crore in March May 13, 2022 09:41 AM IST

    Airtel, Jio drive telecom subscriber base to 116.6 crore in March

    Bharti Airtel and Reliance Jio led new customer additions in both mobile telephony as well as fixed line services segment in March.

  • Increasing production capacity in India to start exporting devices this year: Vivo India May 13, 2022 09:39 AM IST

    Increasing production capacity in India to start exporting devices this year: Vivo India

    Vivo India director, business strategy, Paigam Danish told PTI that the company will make its flagship device Vivo X80 series also in India where it plans to increase annual production capacity to 60 million devices per annum by end of this year from 50 million in 2021.

  • Morning Scan: All the big stories to get you started for the day May 13, 2022 07:39 AM IST

    Morning Scan: All the big stories to get you started for the day

    A round-up of the biggest articles from newspapers

  • Crypto meltdown deepens as stablecoin Tether drops below dollar peg May 12, 2022 07:52 PM IST

    Crypto meltdown deepens as stablecoin Tether drops below dollar peg

    Cryptocurrencies have been swept up in a sell-off across higher risk assets, which has picked up steam this week as data showed U.S. inflation running hot, deepening investor fears about the economic impact of aggressive central bank tightening.

  • Siemens net profit rises 2.5% to Rs 340 crore in March quarter May 12, 2022 07:48 PM IST

    Siemens net profit rises 2.5% to Rs 340 crore in March quarter

    In the year-ago quarter, the consolidated net profit of the company was Rs 331.5 crore, Siemens said in a BSE filing.

  • US stocks open lower as inflation weighs on sentiment May 12, 2022 07:41 PM IST

    US stocks open lower as inflation weighs on sentiment

    Data on wholesale prices showed that price increases eased in April compared with the prior month but still stand 11 percent higher than a year ago.

  • Suzuki in talks to quit MotoGP in 2022 May 12, 2022 07:23 PM IST

    Suzuki in talks to quit MotoGP in 2022

    "Suzuki Motor Corporation is in discussions with Dorna regarding the possibility of ending its participation in MotoGP at the end of 2022," Suzuki said in a statement.

  • India needs $7.2 billion investment to promote integrated solar module manufacturing: Report May 12, 2022 07:06 PM IST

    India needs $7.2 billion investment to promote integrated solar module manufacturing: Report

    The push to improve local manufacturing could help domestic module manufacturers clock $30 billion (Rs 2.3 lakh crore) in revenues by 2030 from selling 150 GW at Rs 15/Wp (Watt peak) and generate employment opportunity for around 41,000 workers, according to the report released by CEEW Centre for Energy Finance (CEEW-CEF).

  • Roche Pharma launches drug to treat breast cancer May 12, 2022 06:53 PM IST

    Roche Pharma launches drug to treat breast cancer

    The company has launched PHESGO the first ever fixed dose formulation in oncology to combine two monoclonal antibodies – Perjeta (pertuzumab) and Herceptin (trastuzumab) with hyaluronidase, administered by subcutaneous injection in combination with intravenous (IV) chemotherapy, for the treatment of early and metastatic breast cancer.

  • Dalmia Cement draws up plan to invest Rs 2,600 crore in Tamil Nadu May 12, 2022 06:38 PM IST

    Dalmia Cement draws up plan to invest Rs 2,600 crore in Tamil Nadu

    The company would set up two greenfield grinding units with a capacity of producing two million tonne per annum each, regional director of the cement-maker Sunil Aggarwal said.

  • Petronet LNG seeks lower price for renewing Qatar deal May 12, 2022 06:18 PM IST

    Petronet LNG seeks lower price for renewing Qatar deal

    The company in the immediate term is looking to tie up 0.75 to 1 million tonnes of LNG to meet the burgeoning energy demand in the country, particularly of the city gas sector.

  • Delhi Excise Policy: Govt may allow wholesalers to set up just one lab for testing liquor May 12, 2022 05:58 PM IST

    Delhi Excise Policy: Govt may allow wholesalers to set up just one lab for testing liquor

    The Excise Policy being framed by the government for 2022-23 is likely to allow a wholesale licensee (L-1) to set up just one lab, instead of a lab at each warehouse owned by the licensee, officials said.

  • Govt aims to build 18,000 km of highways in FY23: Nitin Gadkari May 12, 2022 05:35 PM IST

    Govt aims to build 18,000 km of highways in FY23: Nitin Gadkari

    Nitin Gadkari further said the government’s overall target is to develop 2 lakh km of National Highway Network by 2025.

  • Consumer durables to see 3-5% price hikes as costlier imports amid rupee fall add to input costs May 12, 2022 05:08 PM IST

    Consumer durables to see 3-5% price hikes as costlier imports amid rupee fall add to input costs

    Moreover, the depreciating Indian rupee against the US dollar has put further woes on manufacturers as imported components have become costlier, with the industry largely being dependent on imports for key components.

  • SpiceJet, Axis Bank launch co-branded credit card May 12, 2022 05:01 PM IST

    SpiceJet, Axis Bank launch co-branded credit card

    The card is designed to enable customers use the rewards earned on their daily spends for booking flights and add-ons, thus encouraging both travel and digital payments embedded with benefits of the SpiceJet frequent flyer programme, SpiceClub, the airline said.

  • SoftBank will cut investments to a fourth in 2022 as tech shares plunge globally May 12, 2022 04:13 PM IST

    SoftBank will cut investments to a fourth in 2022 as tech shares plunge globally

    Compared to last year, the amount of new investment will be half or could be as small as a quarter, said the conglomerate's billionaire CEO Masayoshi Son

  • Annual salary hikes inch closer to pre-COVID levels; to be around 8.13% this year: Report May 12, 2022 02:53 PM IST

    Annual salary hikes inch closer to pre-COVID levels; to be around 8.13% this year: Report

    According to the 'Jobs and Salary Primer Report for FY2022 by TeamLease’, unlike the last two years, this year most of the job roles from across sectors have been considered for a salary hike, however, the increments will be moderate.

  • Elon Musk's delay in disclosing Twitter stake triggers SEC probe: Report May 12, 2022 02:48 PM IST

    Elon Musk's delay in disclosing Twitter stake triggers SEC probe: Report

    Musk disclosed a 9.2 percent stake in Twitter to the U.S. Securities and Exchange Commission (SEC) on April 4, a delay of at least 10 days since surpassing the 5 percent threshold for revealing a shareholding, the report said.

  • NTPC to raise Rs 5,000 crore via term-loan to fund capex May 12, 2022 02:38 PM IST

    NTPC to raise Rs 5,000 crore via term-loan to fund capex

    "Proceeds of the loan shall be utilised towards capital expenditure for ongoing/new capacity addition programme, including the takeover of projects, renewable energy projects, coal mining & washeries, renovation & modernisation program of various projects, refinancing of loans and general corporate purposes etc,” as per the request for proposal (RFP) document.

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