Jul 31, 2024, at 05:58 pm
New Delhi/IBNS: Nitin Gadkari, the Union road, transport and highways minister, has written to finance minister Nirmala Sitharaman, seeking withdrawal of the 18 percent Goods and Services Tax (GST) on life and medical insurance premiums, reports MoneyControl.
Adani Energy Solutions raises $1 bn via QIP issue, first since Hindenburg row
Jul 31, 2024, at 05:21 pm
Mumbai/IBNS: Marking a market return, Adani Group's power transmission unit Adani Energy Solutions Ltd on Tuesday (July 30) raised $1 billion through a share sale, reports said.
Jupiter Wagons Ltd Q1FY25: PAT grows 40% YoY to Rs 8,923 lakh
Jul 31, 2024, at 05:34 am
Kolkata: Jupiter Wagons Ltd reported a profit after tax (PAT) of Rs 8,923 lakh, representing a 40.3% year-on-year increase, with a PAT margin of 9.9%.
Akums Drugs IPO fully subscribed on first day, driven by retail and NII; check GMP
Jul 31, 2024, at 05:17 am
Mumbai: The retail portion of Akums Drugs and Pharmaceuticals Ltd's initial public offering (IPO) was fully subscribed within an hour of opening, media reports said.
Jindal Stainless Q1FY25 profit falls 12% to Rs 646.07 cr
Jul 31, 2024, at 04:27 am
Mumbai: Jindal Stainless Ltd (JSL) on Tuesday posted a 12 percent fall in consolidated net profit to Rs 646.07 crore during June quarter, mainly on account of lower income. It had clocked Rs 737.58 crore net profit in the year-ago period, media reported, citing an exchange filing.
Vedanta gets approval of its 75% secured creditors for demerger
Jul 31, 2024, at 04:20 am
Mumbai: Mining conglomerate Vedanta announced that 75 percent of its secured creditors have approved its proposed demerger of businesses, a major milestone in the company's strategy to separate into six independent listed entities.
SEBI proposes to expand the definition of 'connected persons' in insider trading
Jul 31, 2024, at 03:31 am
Mumbai: Capital markets regulator Securities and Exchange Board of India (SEBI) has issued a consultation paper proposing to expand the scope of insider trading regulations to include more individuals, even those who may have unofficial connections with company officials who possess price-sensitive information, media reports said.
Punjab & Sind Bank Q1FY25 profit grows 19% to Rs 182 cr
Jul 31, 2024, at 02:28 am
New Delhi: Punjab & Sind Bank reported net profit of Rs 182 crore, up 18.95% YoY.
GAIL Q1FY25: Net profit rises 78% to Rs 3,183 cr
Jul 31, 2024, at 01:49 am
Mumbai: State-run GAIL reported a consolidated net profit of Rs 3,183 crore for the quarter ending June 2024, up 78% from the Rs 1,793 crore recorded in the same quarter the previous year, media reports said.
BCCI in settlement talks with Byju Raveendran over outstanding payments
Jul 30, 2024, at 11:02 pm
Bengaluru: The Board of Control for Cricket in India (BCCI) informed the National Company Law Appellate Tribunal (NCLAT) on Tuesday that it is engaged in preliminary settlement discussions with Byju Raveendran to resolve a dispute with Think and Learn Private Limited, a Moneycontrol report said.
30% of GenAI projects will be abandoned after proof of concept by end of 2025, predicts Gartner
Jul 30, 2024, at 10:59 pm
Sydney/IBNS: At least 30 percent of generative AI (GenAI) projects will be abandoned after proof of concept by the end of 2025, due to poor data quality, inadequate risk controls, escalating costs or unclear business value, according to American technological research and consulting firm Gartner.
Indian Oil Corp Q1FY25 profit declines 81% YoY to Rs 2,643 cr
Jul 30, 2024, at 10:51 pm
Mumbai: Indian Oil Corp reported an 81% decline in its standalone net profit for the first quarter, amounting to Rs 2,643 crore, compared to Rs 13,750 crore in the same quarter last year.
Apple to make iPhone 'Pro' models in India for the first time
Jul 30, 2024, at 10:43 pm
New Delhi/IBNS: American tech giant Apple is all set to expand its manufacturing footprint in India by making high-end iPhone "Pro" models in the country for the first time, reports MoneyControl.
Piyush Goyal rules out change in govt's stance on Chinese FDI
Jul 30, 2024, at 10:33 pm
New Delhi: Commerce Minister Piyush Goyal stated Tuesday that the Indian government is not reconsidering its position on foreign direct investment (FDI) from China, indicating that the country may continue to impose stricter scrutiny on investments from Beijing, media reports said.
Jul 30, 2024, at 08:34 pm
New Delhi/IBNS: Indian crypto exchange platform WazirX has been facing heat from the industry as well as customers for its "Withdrawal Management Programme: Opinion Poll" in the aftermath of the $230 million hack, 45 percent of its user funds, it suffered earlier in July, reports CoinDesk.
McDonald’s sales drop globally for first time in over three years
Jul 30, 2024, at 06:27 pm
Chicago/IBNS: American multinational fast food chain McDonald’s has reported its first fall in global sales in over three years as inflation-weary consumers seek out cheaper options and cut back on eating out, reports said.
Survey reveals 51% Indian EV car owners want to switch back to ICE vehicles as dissatisfaction grows
Jul 30, 2024, at 05:39 pm
New Delhi/IBNS: A recent survey by Park+, a leading app for car owners, has revealed that 51 percent of electric vehicle (EV) owners in India expressed a preference to switch back to conventional internal combustion engine (ICE) vehicles due to everyday hassles associated with EV ownership.
Takeover by UltraTech Cement won't hit jobs, Srinivasan assures India Cements' staff
Jul 30, 2024, at 05:16 pm
Chennai/IBNS: N. Srinivasan, the vice chairman and managing director of India Cements, has assured his employees that the company's takeover by UltraTech Cement will not impact their career.
Key indicators show Indian economy remaining on course, says NCAER Monthly Review
Jul 30, 2024, at 12:37 am
Amid signs of receding global shocks, the latest high-frequency indicators like PMI expansion for manufacturing and services and bank credit growth besides the forecast of above-normal monsoon rains in July hold out the projected growth promise for the Indian economy, according to the Monthly Economic Review for July released by National Council of Applied Economic Research (NCAER).
FPIs invest Rs 33,600 cr in equities in July
Jul 29, 2024, at 08:59 pm
Mumbai/IBNS: Foreign portfolio investors (FPIs) injected over Rs 33,600 crore into Indian equities so far in July on the expectation of continued policy reforms, sustained economic growth and a better-than-expected earnings season, reports said.
Jul 29, 2024, at 08:43 pm
Mumbai/IBNS: The Indian jewellery retail market, which is largely dominated by the Ambanis and the Tatas, is set to witness intense competition with the Aditya Birla Group entering the Rs 6.7 trillion market with its in-house jewellery brand "Indriya".
SEBI study finds married traders outperform single traders in profit-making
Jul 29, 2024, at 08:23 pm
Mumbai/IBNS: An extensive analysis of intraday trading patterns conducted by the Securities and Exchange Board of India (SEBI) has revealed a surprising correlation between trading performance and relationship status.
Ola Electric's IPO opens on August 2; price band announced: Check out details and insights
Jul 29, 2024, at 08:20 pm
Bengaluru: The initial public offering (IPO) of Ola Electric Mobility will open for subscription on August 2, with a price band set at Rs 72-76 per share. Investors are required to apply in lots of 195 equity shares or multiples thereof. The IPO, which will close on August 6, is expected to list the company's shares on both BSE and NSE on August 9. Here are the essential details:
WazirX unveils fund recovery plan after $230 mn cyberattack
Jul 29, 2024, at 07:30 pm
Mumbai/IBNS: Days after losing $230 million to a cyberattack, Indian crypto exchange platform WazirX is launching a fund recovery plan based on a user poll the cryptocurrency platform will conduct by August 3.
Jammu and Kashmir administration approves Rs 400 crore rooftop solar project for govt buildings
Jul 29, 2024, at 06:31 pm
Srinagar/IBNS: The Jammu and Kashmir administration on Sunday (July 28) approved a Rs 400 crore project to install grid-tied rooftop solar power systems on all government buildings in the union territory, reports said.
UltraTech Cement shares gain after its board approves additional 32.72% acquisition of India Cements
Jul 29, 2024, at 06:17 pm
Mumbai/IBNS: The share price of UltraTech Cement gained over a percent in early trade on Monday (July 29), a day after the company announced the acquisition of another 32.72 percent stake in India Cements.
Aditya Birla Group forays into Rs 6.7 trn Indian jewellery retail market with 'Indriya'
Jul 27, 2024, at 06:42 pm
Mumbai/IBNS: The Aditya Birla Group on Friday (July 26) ventured into the rapidly expanding Rs 6.7 trillion Indian jewellery retail market with the launch of its in-house jewellery brand 'Indriya'.
Govt extends EV subsidy scheme EMPS by two months
Jul 27, 2024, at 05:29 pm
New Delhi/IBNS: In a significant move to accelerate India's transition to electric vehicles, the Centre on Friday (July 26) announced a two-month extension of the Electric Mobility Promotion Scheme (EMPS) 2024.
iPhones get cheaper by up to Rs 6,000 after customs duty relief in Budget
Jul 27, 2024, at 07:44 am
New Delhi: Apple has reduced the prices of its iPhones by 3-4% across its entire range, allowing customers to save between Rs 5,100 and Rs 6,000 on Pro or Pro Max models.
Power Grid Corporation of India Q1FY25 net profit rises 3.52% to Rs 3,724 cr
Jul 27, 2024, at 06:29 am
Mumbai: Power Grid Corporation of India (PowerGrid) reported a 3.52 percent increase in its consolidated net profit, reaching Rs 3,723.92 crore for the June quarter.