Business

17

Apr

By The Press Editor

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Business

Defence stock surges 16% after receiving license from govt for manufacturing of ammunition, details

Mumbai: Shares of Apollo Micro Systems Ltd (AMSL), a technology-based solutions provider in sectors such as infrastructure, transportation, aerospace and defence, among others, surged on Friday after the company announced that it has been granted a lifetime license by the government of India for the commercial manufacture of high-value strategic weapon systems and ammunition. According to the information shared with the exchanges, the license has been issued by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce & Industry. The license authorises the company to manufacture, assemble, and test a wide array of defence…

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17

Apr

By The Press Editor

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Business

Back-to-back upper circuit: Stock continues to gain following major order win, check share price

Mumbai: Amid a volatile session on the last day of the trading week, shares of Elitecon International Ltd., a smallcap company with a market cap of Rs 6,956.67 crore, hit a 5 per cent upper circuit today. This is the second consecutive day the stock has hit the upper circuit. The stock action continues, with the company on Thursday announcing an order of Rs 2.02 billion (Rs 202 crore). Today, the stock opened at Rs 43.52, up 5 per cent or Rs 2.07 on the BSE. The stock has a 52-week high of Rs 422.65, touched on August 25, 2025…

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17

Apr

By The Press Editor

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Business

Gautam Adani becomes Asia’s richest person, check out his net worth

New Delhi: The list of Asian billionaires has seen another major reshuffle as Adani Group Chairman Gautam Adani has surpassed Reliance Industries Chairman Mukesh Ambani to become Asia's richest person. According to the latest data from the Bloomberg Billionaires Index,  Adani now ranks 19th globally. Gautam Adani's total net worth has reached USD 92.6 billion, while Mukesh Ambani has slipped to second place with USD 90.8 billion. The development comes as Adani's net worth has surged, putting him ahead of Ambani in the global wealth rankings. Adani's wealth jumps significantly  While the Indian stock market saw a slight decline on…

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17

Apr

By The Press Editor

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Business

Wipro Share Price: IT stock falls nearly 4% after company announces promoters’ participation in buyback

Mumbai: Shares of IT major Wipro fell nearly 4 per cent on Friday, a day after the company announced its quarterly results and said that its promoters will participate in a Rs 15,000 crore share buyback. Following this update, the stock opened in the red at Rs 206.95, a dip of Rs 3.25 or 1.54 per cent from the previous close of Rs 210.20 on the BSE. The stock witnessed profit booking and fell further amid a spurt in volume by more than 1.74 times. The stock touched a low of Rs 202.60, representing a 3.62 per cent dip from…

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17

Apr

By The Press Editor

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Business

Om Power Transmission IPO Listing: Stock lists at 6% premium over issue price, check details

Mumbai: Shares of power infrastructure company Om Power Transmission Ltd made a decent debut on Friday, listing at a 6 per cent premium to the issue price of Rs 175. The listing at a premium is significant amid market volatility. The stock opened trading at Rs 186, up 6.28 per cent from the issue price on the National Stock Exchange. Later, it surged 11.42 per cent to hit a high of Rs 195 apiece. Also, the listing is better than what the grey market premium (GMP) had suggested.  On the BSE, Om Power Transmission's shares made a debut at Rs…

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17

Apr

By The Press Editor

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Business

Market Opening Bell: Sensex, Nifty flat amid weak global cues, Adani Ports in action

Mumbai: Indian equity benchmark indices, the Sensex and Nifty, opened flat on Friday, amid weak global cues. While the 30-share BSE Sensex fell 12.55 points to start the session at 77,976.13, the Nifty dropped 30.85 points to open at 24,165.90. In the last trading session, the Sensex closed at 77,988.68 and the Nifty 50 at 24,196.75. However, the broader indices traded in the green in the opening session. While the BSE Midcap Select Index added 49.99 points, the BSE Smallcap Select Index was up by 44.54 points or 0.8257 per cent, to trade at 7,904.67.  From the Sensex pack, Adani…

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16

Apr

By The Press Editor

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Business

8th Pay Commission: Rs 69,000 basic salary to 6% annual increment, check recommendations of draft committee

Mumbai: The draft committee of the National Council (Joint Consultative Machinery), known as NC-JCM, has submitted its recommendations to the 8th Central Pay Commission (CPC). The 51-page memorandum proposes several major changes, with the most significant demand being to increase the minimum basic salary from Rs 18,000 to Rs 69,000. The committee has also proposed a fitment factor of 3.83,  which would significantly raise existing salaries and pensions. It has also been demanded that the new pay scales take effect on January 1, 2026. An annual increment of 6 per cent and restoration of the Old Pension Scheme are among…

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16

Apr

By The Press Editor

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Business

Should one stop SIP or continue during the market volatility? Find out here

New Delhi: Markets have been highly volatile of late due to geopolitical uncertainties and tension in the Middle East. Investors remain cautious as crude oil prices hover around USD 95 amid uncertainty over the Strait of Hormuz, the world’s most critical maritime energy chokepoint. Even during this uncertainty, Systematic Investment Plans (SIPs) can be beneficial for those investing with a long-term perspective. While the instinct during a market crash is to hit the "pause" button, data suggests that every dip gives investors the opportunity to create wealth in the long term.  What does SIP really do? According to Swati Jain,…

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16

Apr

By The Press Editor

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Business

Can parents deposit Rs 3 lakh annually in their child’s PPF account? Here’s what you need to know

New Delhi: Public Provident Fund (PPF) is a popular government-backed long-term savings scheme, and many people consider this a good investment option for their children's futures. This government-run savings scheme allows a maximum investment of Rs 1.5 lakh per account during a financial year. Some parents think that by opening a PPF account in their child's name, they can contribute up to Rs 3 lakh annually (Rs 1.5 lakh + Rs 1.5 lakh). However, this is a misconception. What is the annual deposit limit in PPF? According to PPF rules, up to Rs 1.5 lakh can be deposited in a…

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16

Apr

By The Press Editor

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Business

Wipro Q4 results: IT stock in focus ahead of quarterly results, buyback announcement

Mumbai: Shares of IT services company Wipro will be in focus during the trading session as the company is set to announce its financial results for the January-March quarter of the financial year 2025-26. Along with the results, the board of directors of the company would consider a share buyback, and investors are also expecting some announcement related to the annual dividend. The meeting holds significance as it comes in the backdrop of the company holding a cash balance of Rs 41,510 crore as of the third quarter, the highest among the top five IT firms. The IT company has…

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