Here’s today business news, the latest business news India today 25 May 2022
- India may put a curb on sugar exports to control domestic prices.
- A proposal to raise Rs 99 crore has been approved by Innox Wind Board via issuance of 990 non-convertible debentures at a coupon rate of 9.75% p.a.
- Rs 300 crore to be raised by Muthoot Finance in its 27th series of public issues of secured redeemable Non-convertible debentures Rs 1000 each of face value.
- LIC Board to meet on 30th May and declare financial results for FY 2022.
- ReNew Power has signed up with Karnataka for the investment of Rs 50,000 in solar, wind and hybrid projects, battery storage, and a green hydrogen plant.
- Grasim Industries has doubled its capital expenditure to Rs 10,000 crore for foraying into the paints business and is expected to start the production by the fourth quarter of 2023-24.
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- OYO may go for IPO after September 2022.
- Tata Capital Growth Fund has bought a minority stake in Aarthi Scans & Labs, a diagnostics services provider, for an undisclosed amount.
- Volvo Trucks has introduced fossil-free steel in its truck and has become the first in the world to do it.
- As per the RBI data, the credit card spending online has been around Rs 30,000 crore more than spending done via point of sales in March.
- Ujjivan Small Finance Bank has increased the interest rates to 7.1% on regular term deposits and to 6.75% on fixed deposits.
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- Contentstack launched an industry-first automation hub for overcoming technical and operational difficulties of composable architecture.
- Aditya Birla Fashion to raise Rs. 2,195 crores through Singapore’s GIC.
- Dollar Industries Ltd aims to become a Rs 2,000 crore company by 2024-25 and would invest Rs 120 crore for doubling its spinning capacity.
- The license period of retail liquor vends in Delhi has been extended for the next two months.
- The Government of India has placed a curb on exports of sugar beyond 10 million tonnes till September 2022 due to increasing exports of sweeteners.
- The net profit of the Bank of India in Q4 has increased by 142% and reached Rs 606 crores in comparison to Rs 250 crore last year.
- Jovian, an ed-tech startup, raised $1.5 million funds in a seed round of funding led by Multiply Ventures along with participation from other investors such as Y Combinator, Better Capital, etc.
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