UCO Bank’s Rajendra Kumar Saboo to continue as interim MD & CEO for three more months
The government has extended Saboo’s additional charge as UCO Bank’s MD & CEO until November 30 or until a permanent chief is appointed, whichever is earlier.
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SEBI slaps ₹33 crore fine on Varanium Cloud, eight others for diversion of IPO proceeds
Sebi has imposed penalties totalling ₹33.08 crore on Varanium Cloud, promoter Harshawardhan Sabale and seven others over alleged financial misrepresentation and diversion of IPO and rights issue proceeds. The regulator has also barred Varanium Cloud and Sabale from the securities…
Mamaearth parent Honasa Consumer scraps 58% Fluence Pharma stake acquisition
Honasa Consumer has called off its proposed acquisition of a 58% stake in Fluence Pharma after the closing conditions under the share purchase agreement were not fulfilled. The FMCG company said it will continue to evaluate organic and inorganic opportunities…
Successful Hindustan Copper OFS to get govt to nearly 70% of FY27 disinvestment target
The government had budgeted an ₹80,000 crore fundraise from disinvestments in FY27. A successful 6% stake sale in Hindustan Copper will leave around ₹24,303 crore to be raised over the remaining seven months of this financial year.
Reserve Bank of India net absorbed $561 million in June as inflows picked up
The RBI turned a net dollar buyer in June, purchasing $561 million from the forex market after selling $6 billion in May. The shift comes as capital inflows surged following the central bank’s policy measures, helping steady the rupee after…
Sai Parenterals’ Australian OTC supply book hits ₹1,506 crore with second contract renewal
Sai Parenterals has strengthened its Australian OTC business with a fresh AU$30 million three-year supply agreement, taking its total contracted OTC supply commitments in the country to AU$232 million, or about ₹1,506 crore. The latest renewal follows a larger AU$202…
Nifty Outlook for August 26: Analysts see further upside towards 24,500-24,600 after expiry-day surge
The nearly 75-point gain during the CAS helped the Nifty engulf the moves of the previous three sessions. The index also reclaimed its 20-day DEMA, placed around 24,300.
Market Pulse: Key triggers to watch before the August 26 trading session
US economic data, Iran war support, oil prices, and bond market trends are key. Durable Goods, GDP, PCE, and consumer spending data are due. US support for Iran war fell to 31%. Oil prices dropped ove
Varun Beverages to enter alcoholic drinks business, sets up new subsidiary KIVA Spirits
The PepsiCo bottler will set up a wholly-owned subsidiary for ready-to-drink alcoholic beverages and has hired former Diageo executive Prathmesh Mishra to lead the new business.
Gold surges past $4,600: What a $58 million GLD options bet says about market positioning
Gold has climbed to its highest level since May as US fiscal concerns and Treasury market pressures revive the dollar-debasement trade. But while the macro backdrop remains supportive, a large GLD options trade shows at least one investor positioning for…