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India’s horticultural crops output increase marginally to 341 million tonne in 2021-22

India’s production of horticultural crops consisting of fruits, vegetables, spices, medicinal plants and plantation crops in the crop year 2021-22 (July-June crop year) grew by around 2% to 341 million tonne (mt) against 334 mt reported in 2020-21. The horticultural crops production continues to be higher than the foodgrain production. As per the third advance estimates for the foodgrains production released in May, India’s output of rice, wheat and pulses in 2021-22 crop year was estimated at a record 314.51 mt. The vegetables production grew marginally to 204.61 mt in 2021-22 compared to 200.4 mt as per the final estimate …

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Sebi guidance to Deepak Nitrite: Share transactions before QIP may warrant extra caution

By Ashley Coutinho Promoters and company insiders wanting to buy or sell shares before a qualified institutional placement, or QIP, may have to be a tad more watchful given a recent guidance by the Securities and Exchange Board of India (Sebi) in this regard. In its guidance to Deepak Nitrite last week, Sebi said the company’s proposed QIP of Rs 2,000 crore would increase the capital of the company and lead to a change in its capital structure. Accordingly, the pending QIP issue, its pricing and its probable impact on the company’s share capital constitute unpublished price sensitive information, or …

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Nifty IT hits 52-week low on Thursday, fall in rupee doesn’t help

Information technology (IT) stocks continued their downward journey on Thursday, with HCL Technologies, Tech Mahindra, TCS, Wipro witnessing selling pressure. The Nifty IT cracked below the 52-week low of 26,399.75 intra-day, marking the lowest level since May 2021, while the BSE IT index fell 1.44%. An interesting fact is that the record plunge of the rupee is not helping curb the fall in IT stocks. A strong dollar against the rupee is considered to be positive for IT companies as a major chunk of their revenue comes from outside the country.

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NSE appoints Ashish Chauhan as its new MD & CEO

By Ashley Coutinho The National Stock Exchange (NSE) on Sunday announced the appointment of Ashish Kumar Chauhan as its new managing director and CEO.NSE said Chauhan’s appointment is subject to acceptance of the offer made to him and fulfilment of the terms and conditions, including approval from the NSE shareholders. Limaye had declined to seek a second term at the exchange despite being eligible. Chauhan, who was part of the NSE’s founding team, will take over the bourse’s top job after his second five-year term as MD and CEO of BSE ends in November, or earlier if he resigns from …

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‘Too premature to comment’ – NCERT on name change of India to Bharat in all school textbooks

NCERT Panel Recommends Replacing ‘India’ with ‘Bharat’: The National Council of Educational Research and Training (NCERT) has reportedly accepted the recommendation of adopting the name ‘Bharat’ instead of ‘India’, according to PTI. This means if the panel’s recommendations are accepted then the new books published under NCERT will have ‘Bharat’ as the new name of India in all school textbooks. Reacting to the development, the NCERT has issued a statement saying that it is ‘too premature to comment’ on the name change. It also added that the development of new syllabus and textbooks is under the process. The committee who …

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Adani Enterprises, Bharat Electronics among 80 stocks to hit 52-week high on BSE, 18 scrips at fresh lows

Domestic stock markets were trading with strong gains on Monday tracking strength in Asian and US equities. The BSE Sensex rose over 500 points to 54,295, and the NSE Nifty 50 advanced 162 points to 16,212. The broader markets also opened in green with the BSE MidCap and SmallCap indices inching up 0.8%. All sectors opened in green with Nifty IT and metals leading gains, rising up to 1.7 per cent. PSBs, realty and pharma indices were the next top winners. Among stocks, BEL soared over 4% after the company posted a net profit of Rs.431.49 crores in Q1 FY23 …

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Govt allows insurers to invest in GIFT IFSC

By Ashley Coutinho Life Insurance Corporation of India’s (LIC) bid to buy a 15% stake in India International Exchange (India INX), an international exchange, and a similar stake in India International Clearing Corporation (India ICC) — both promoted by BSE and located at GIFT IFSC — may come to fruition after the government tweaked provisions of the Insurance Act last week to allow Indian insurers to invest in the International Financial Services Centre (IFSC) at GIFT city, Gujarat. LIC had approached insurance regulator IRDAI for purchasing a stake in India INX earlier this year under the overseas direct investment route. …

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Rupee dives 0.13% to close at 79.98 vs dollar

The rupee on Monday drifted down to near-80 levels against the dollar, hitting 79.9825 in intra-day trades as Brent prices rose to over $103/barrel. It ended at 79.9800 against the dollar, down 0.13 % over Friday’s close. So far in 2022, the rupee has depreciated around 7%, primarily because of the dollar index having strengthened to the levels of 108. The Reserve Bank of India (RBI) is believed to have intervened in the currency markets on Monday, amid demand from importers for dollars. “There was a bit of a scramble for dollars by importers and the central bank did step …

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New NSE MD name likely tomorrow; interim committee takes charge

By Ashley Coutinho As Vikram Limaye’s five-year tenure as managing director and chief executive of NSE ended Saturday, a committee will be taking charge for the interim till a new MD is announced, which might happen on Monday. The candidate for the post of chief executive is required to have a track record of strengthening corporate governance, enterprise risk management and compliance management framework, as per the advertisement placed by NSE. Ashishkumar Chauhan, the current MD & CEO of BSE; Bhargav Dasgupta, MD & CEO at ICICI Lombard General Insurance Co; and Yatrik Vin, chief financial officer of the NSE, …

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Kasrawad Madhya Pradesh Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

As anticipation mounts for the upcoming Kasrawad Constituency Election in Madhya Pradesh, voters are eagerly awaiting the big battle that kicks off with the announcement of key dates by the Election Commission of India. Here, we provide you with essential details about the Kasrawad Constituency Assembly Election 2023 that every voter should be aware of. Kasrawad Constituency Madhya Pradesh Assembly Election 2023: Voting Date The voting date for the Kasrawad Assembly Constituency Election 2023 has been officially announced by the Election Commission. As per the ECI, Kasrawad Assembly Constituency will go to polls on November 17. Stay tuned for updates …

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