Finance Ministry dismisses reports of investigation of Hindenburg's allegation against SEBI chief
Aug 21, 2024, at 03:19 am
New Delhi: Sources from the Finance Ministry on Tuesday dismissed a media report suggesting that the ministry was considering forming a panel to investigate allegations made by Hindenburg Research against SEBI Chairperson Madhabi Puri Buch, according to a Moneycontrol report.
SEBI's consultation paper advocates for rights issues as preferred fundraising method
Aug 21, 2024, at 01:38 am
Mumbai: Capital market regulator SEBI has released a consultation paper aimed at speeding up the rights issue process.
Proposal to extended retirement age of SBI chairperson, MDs of PSBs put on hold
Aug 21, 2024, at 01:33 am
Mumbai: The government has paused a proposal to increase the retirement age of the State Bank of India (SBI) chairperson to 65 years and that of managing directors of other public sector banks (PSBs) to 62, according to sources cited by Moneycontrol.
Tariff hikes by telcom companies likely to fuel FY25 inflation by 10-15 bps: Report
Aug 20, 2024, at 09:09 pm
New Delhi/IBNS: The recent 10-27 percent tariff hike announced by telecom companies is paving the way for a 10-15-basis-point rise in inflation from earlier estimates, Moneycontrol reported on Tuesday (August 20) citing experts.
Bank FD rates surge to 9.5%, now 47% of FDs held by senior citizens
Aug 20, 2024, at 06:44 pm
New Delhi/IBNS: Bank fixed deposit (FD) interest rates have touched 9.5 percent, which is a significant development for the investors who believe in FDs as a critical foundation in their investment portfolio.
FM Nirmala Sitharaman asks PSBs to make 'concerted' efforts for special deposit drives
Aug 20, 2024, at 05:28 pm
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Monday (August 19) called for a collaborative approach between banks, the government, regulators, and security agencies, amid rising cyber threats.
Aug 20, 2024, at 06:32 am
Infosys co-founder Narayana Murthy has flagged concern over India's rapidly growing population, calling it one of the biggest risks to the country's future sustainability.
Adani Power in talks to buy Reliance Power's 600-MW thermal plant in Nagpur: Report
Aug 19, 2024, at 08:45 pm
Ahmedabad/IBNS: Adani Power, a subsidiary of Adani Group, is in discussion to acquire the 600-MW Butibori thermal power project in Nagpur for Rs 2,000-3,000 crore, and the value of the deal could translate into Rs 4-5 crore per megawatt, Mint reported on Monday (Aug 19) citing its sources.
After facing social media backlash, Cognizant clarifies salary range for freshers
Aug 19, 2024, at 08:23 pm
New Delhi/IBNS: After facing social media backlash over the Rs 2.52 lakh annual salary offers for freshers, American IT services major Cognizant on Sunday (August 18) clarified it offers Rs 4-12 lakh salary to fresh engineering graduates, and the package being quoted on social media is for non-engineering undergraduate holders.
Seven IPOs to hit the market amid robust activity in India's primary market
Aug 19, 2024, at 06:18 am
Mumbai: Despite mixed sentiments in the Indian secondary market, the primary market remains active. Seven companies are set to launch Initial Public Offerings (IPOs) this week, with two in the mainboard and five in the SME segment. Here’s a summary of the upcoming IPOs:
'Rationalise and simplify': IMF's Gita Gopinath gives tips to increase GST revenue
Aug 18, 2024, at 07:13 am
New Delhi: Emphasising that structural reforms should be continuous, Deputy Managing Director of the International Monetary Fund (IMF) Gita Gopinath said that India should continue to rationalise and simplify its Goods and Services Tax (GST) system to boost revenue, media reports said.
EMIs on loans set to increase as SBI hikes lending rates by 10 bps across tenures
Aug 17, 2024, at 06:07 pm
New Delhi/IBNS: India's largest public sector lender State Bank of India (SBI) has announced a rise in its marginal cost of funds-based lending rate (MCLR) by up to 10 basis points (0.1 percent) across all tenures.
Govt slashes windfall tax on crude oil to Rs 2,100 per tonne
Aug 17, 2024, at 05:27 pm
New Delhi/IBNS: The Union government has reduced windfall tax on domestically produced crude oil to Rs 2,100 per tonne from previous Rs 4,600 per tonne, while windfall tax on export of diesel and aviation turbine fuel (ATF) has been kept at nil, reports said.
Reserve Bank tightens norms for NBFC P2Ps
Aug 17, 2024, at 07:09 am
Mumbai: The Reserve Bank tightened regulations for Non-Banking Financial Company - Peer to Peer Lending Platforms (NBFC-P2P) to enhance transparency and ensure better compliance.
Bharti Group secures $1.8 billion loan from Barclays Bank: Report
Aug 17, 2024, at 06:23 am
Mumbai: Sunil Mittal's Bharti Group secured $1.8 billion in debt from Barclays Bank to fund the acquisition of a 9.9 percent stake in British Telecom (BT), Moneycontrol reported, citing sources.
JSW Cement to raise Rs 4,000 cr via IPO; files documents with SEBI
Aug 17, 2024, at 05:47 am
Mumbai: Sajjan Jindal-promoted JSW Cement on Friday filed its offer documents with market regulator Securities and Exchange Board of India (Sebi), for a Rs 4000-crore initial public offering.
Cognizant draws flak for '1% salary hike' despite significant profit boost: Report
Aug 17, 2024, at 04:54 am
Bengaluru: IT giant Cognizant is under intense criticism for its minimal salary increases and historically low starting pay for fresh graduates, despite reporting a quarterly profit boost, media reports said.
Union Cabinet approves 3 metro rail projects in Karnataka and Maharashtra
Aug 17, 2024, at 03:02 am
New Delhi: The Union Cabinet approved three metro rail projects in Karnataka and Maharashtra, with a combined estimated cost of approximately Rs 30,765 crore.
Ola Electric Mobility sees 20% valuation jump on motorcycle launch and battery plan
Aug 16, 2024, at 10:49 pm
India's leading e-scooter manufacturer, Ola Electric Mobility, saw its valuation soar by 20 percent on Friday, reaching Rs 58,664 crore ($6.99 billion), following the launch of its new motorcycle lineup and optimism about cost reductions through in-house battery production, media reports said.
Adani Group pledges 51% stake in Navi Mumbai airport for Rs 12,770 cr loan: Report
Aug 16, 2024, at 10:11 pm
Mumbai: The Adani Group-controlled Mumbai International Airport Ltd (MIAL) has pledged a 51 percent stake in the Navi Mumbai International Airport (NMIAL) to the State Bank of India (SBI), media reports said.
India's medicine and antibiotics exports to US, Italy grow
Aug 16, 2024, at 06:24 pm
New Delhi/IBNS: India has become the third largest import source of medicine put up for retail sale in the United States, following Ireland and Switzerland, according to media reports citing Ministry of Commerce data.
Hindustan Zinc planning dividend payout of Rs 8,000 cr
Aug 16, 2024, at 07:37 am
Mumbai: Vedanta group firm Hindustan Zinc Ltd (HZL) is reportedly planning a special dividend payout of Rs 8,000 crore to its shareholders in the current fiscal, media reports said.
Telecom companies witness weak ARPU growth in 2024
Aug 16, 2024, at 06:54 am
New Delhi: The telecom companies in India have witnessed a significantly smaller rise in Average Revenue Per User (Arpu) at 7.5 percent in FY24, against nearly 20 percent in FY23, media reports said, citing the latest government data.
Ola founder Bhavish Aggarwal's first Krutrim AI chips to be ready by 2026
Aug 16, 2024, at 05:18 am
Bengaluru: Krutrim, an AI startup founded by Ola Cabs co-founder and CEO Bhavish Aggarwal last December, announced on Thursday that it plans to design, develop, and launch its first AI chip by 2026, media reports said.
Foxconn chief meets PM Modi, explores investment plan in Karnataka, Tamil Nadu and Andhra Pradesh
Aug 15, 2024, at 09:23 pm
New Delhi/IBNS: Young Liu, the chairman of iPhone contract manufacturer Foxconn, on Wednesday (Aug 14) met Prime Minister Narendra Modi and discussed the Taiwanese tech company's investment plan in India.
Govt to boost India's critical minerals self-reliance with financial incentives
Aug 15, 2024, at 05:24 am
New Delhi: The government announced on Wednesday its plans to introduce financial incentives for the development of critical minerals, including lithium, as part of its National Critical Minerals Mission.
Aug 15, 2024, at 05:08 am
Hyderabad: Electric two-wheeler maker Ather Energy has raised $71 million in a new funding round led by its existing investor, the National Investment and Infrastructure Fund (NIIF), elevating the company's valuation to $1.3 billion and securing its status as a unicorn, according to sources familiar with the matter, Moneycontrol reported.
Ola Electric Mobility Q1FY25 loss widens to Rs 346 cr YoY
Aug 15, 2024, at 03:43 am
Bengaluru: Bhavish Aggarwal-led Ola Electric Mobility reported a year-on-year (YoY) increase in losses for Q1 FY25, reaching Rs 346 crore, compared to Rs 268 crore in Q1 FY24.
Merchandise exports fall in July 2024 on muted demand for petroleum products
Aug 15, 2024, at 02:42 am
New Delhi: India’s merchandise exports fell after three months in July 2024, down 1.48 percent to $33.98 billion compared to $34.49 in July 2023 on the back of subdued global demand and geopolitical challenges.
India's auto industry sees steady growth in July 2024: SIAM
Aug 14, 2024, at 11:27 pm
Mumbai: India's automobile sector recorded a robust performance in July 2024, driven by strong domestic sales and exports across all vehicle categories.