finance – Page 17 – THE ECONOMIC INDIA

02 May

FinTech Sector in India Experiences Explosive Growth Across Key Segments, Alok Kumar Agarwal Alankit Discusses Implications

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Alok Kumar Agarwal Alankit, “At the heart of India’s FinTech revolution lies a relentless pursuit of technological innovation.” New Delhi [India], May 2: In recent years, India has emerged as a global powerhouse in the field of financial technology or FinTech. India’s FinTech sector showcases remarkable dynamism, epitomizing the nation’s technological prowess. “Advancements across Payments, Digital Lending, InsurTech, and WealthTech underscore its capacity for innovation, positioning India as a global leader in financial technology,” says Alok Kumar Agarwal Alankit. Continuing further he adds, “Notably, the Payments segment has experienced an extraordinary surge in India. UPI transactions alone saw an astounding 82%…

02 May

Evexia’s move of acquiring Revin labs, Robust growth forecasted

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In the world of industrial applications, Evexia Lifecare limited stands out as a manufacturer of a range of petrochemical downstream products. These include specialized oils, chemicals, petroleum sulphates, and solvents crucial for industries such as rubber, leather, ink, and paint. Going green with eBikes A significant milestone was the company’s move into the green energy sector in FY21 with the establishment of an eBike plant in Vadodara. Not just stopping at manufacturing, the company is also gearing up for job work and producing their own line of eBikes. Global Financial Moves On 3rd February 2023, the company issued 1.50% Listed…

29 Apr

Lagnam Spintex announces FY24 results, PAT Zooms to YoY 380% at Rs 7.30 cr in Q4FY24, Declares Dividend of Rs. 0.50/- per share

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New Delhi (India), April 29: Lagnam Spintex Limited, a leading manufacturer of high quality cotton yarn in India, has announced its results for the financial year and quarter ended on March 31, 2024. The company witnessed remarkable revenue growth, propelled by its strategic expansion initiatives and diversification into new product lines. Lagnam had commissioned their Rs 218 cr. Capex expansion project ahead of schedule on 31st January 2024, as against the schedule date of 1st April 2024. This early commissioning has helped the company in bringing competitive cost advantage and increase in top line as seen in the results. The Total revenue…

29 Apr

NJ Wealth CEO, Misbah Baxamusa, Discusses the Growth of SIPs and Empowering Investors in the Indian Mutual Fund Industry

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Surat (Gujarat) [India], April 29: NJ Wealth, a leading mutual fund distributor in India, has been making significant contributions to the growth and awareness of mutual funds among retail investors. With their extensive network of over 37,000 sub-distributors and a robust AUM of over Rs 1,94,600 crore, NJ Wealth has been instrumental in reaching out to investors across the country. In a recent interview, Mr. Misbah Baxamusa, CEO of NJ Wealth, shared insights on the growth of systematic investment plans (SIPs) and the factors that have contributed to the overall growth of the mutual fund industry. He also discussed the…

26 Apr

Balu Forge Industries Ltd (BFIL) Announces Listing of Equity Shares on National Stock Exchange of India Limited (NSE)

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Mumbai (Maharashtra) [India], April 26: BFIL, a prominent precision engineering company engaged in manufacturing of crankshafts and forged components, is excited to announce that its shares shall be trading on the National Stock Exchange (NSE) effective at the opening of markets on 29th April, 2024 under the symbol of “BALUFORGE”. Commenting on the announcement, the management team of BFIL stated: “We are pleased to inform that our Company’s shares will also be listed/traded on the main board of NSE from 29th of April, 2024, this earmarks one of the credible milestones for BFIL, further this will help grow and strengthen…

10 Apr

Teerth Gopicon Ltd’s Rs. 44.40 crore public issue subscribed over 74 times; Receives overwhelming response

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Ahmedabad (Gujarat) [India], April 10: The initial public offering of Ahmedabad-based Teerth Gopicon Ltd, company specializes in engineering construction and development received overwhelming response for its Rs. 44.40 crore SME IPO and got subscribed over 74.17 times. Non institutional investor category received the highest interest among investors and was subscribed over 97 times. Retail segment was subscribed 42 times. Company received bids for over 28 crore equity share aggregating total subscription amount of over Rs. 2,925 crores against the 39.99 lakh shares offered in the public issue. The public issue closed for subscription on April 10. Company’s shares will get…

08 Apr

altGraaf Crosses 3300 Plus Crore Investments Offering Alternative Fixed Income Opportunities

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1,85,000 registered investors drive ~150% volume growth in FY24 Bengaluru (Karnataka) [India], April 8: altGraaf, an alternative fixed-income platform offering fixed-income products, today announced a milestone achievement of 3300+ crores of investments from more than 1,85,000 registered investors, crediting their success to their valuable customers, partners and clients. The 3300+ crore investments represent a 153% volume growth and 146% growth in new user addition in FY24. Through its intense focus on innovative products, good risk-adjusted returns, strong due diligence process, easy-to-use digital platform, and customer focus, the FinTech platform has processed 2700+ Crores in Repayment so far and provides investors with…

08 Apr

Teerth Gopicon plans to raise up to Rs. 44.40 crore from public issue; IPO opens April 8

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Ahmedabad (Gujarat) [India], April 8: Ahmedabad based Teerth Gopicon Ltd, company specializes in engineering construction and development mainly focusing on roads, sewerage and water distribution projects is planning to raise up to Rs. 44.40 crore from its SME public issue. The company has received approval to launch its public issue on NSE Emerge Platform of National Stock Exchange. The public issue open for subscription on April 8 and closes on April 10. The Proceeds of the public issue will be utilised to fund company’s expansion plans including meeting working capital requirements and general corporate purposes. Interactive Financial Services Ltd is…

30 Mar

REIT: A pathbreaking trend that boost the FOP in real estate in 2024. By Shravan Gupta

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Mumbai (Maharashtra) [India], March 30: The Indian Fractional ownership is constantly growing. Real estate experts have projected steady growth for the commercial segment. People are willing to invest in commercial projects due to the bullish and thriving real estate market. The fractional ownership platform holds the potential to boost the commercial real estate sector. Shravan Gupta, MGF Group feel it will grow over 25% in 2024. It will draw more buyers in the sector making it a profitable notion for attracting potential investors. Experts suggest commercial real estate is likely to grow 10 times more in the next 5 years and has…

29 Mar

Safe trading in the currency market in India- Ahmad Qutaishat, Sales Director, VT Markets

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New Delhi (India), March 29: In terms of trading volume, foreign exchange is possibly the largest market in the financial world. While decentralized systems and global currency networks allow a continuum of transactions and trading, they also make the market extremely volatile. However, due to the vast number of continuous transactions, the forex market is also considered the most liquid market. This is what makes it so attractive to traders. Although the rapid rise and fall in currency rates implies a higher risk of losses, they also make for better profits in bullish times. Therefore, in order to sustain profits, it is…