Oct 18, 2024, at 09:33 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday (Oct. 17) took action against four Non-Banking Financial Companies (NBFCs), instructing them to cease new loan sanctions and disbursements, while a Morgan Stanley report suggests that more companies in the lending sector could face similar scrutiny.
Byju Raveendran says his edtech startup Byju's, once worth $22 billion, is now 'worth zero'
Oct 18, 2024, at 09:06 pm
Bengaluru/IBNS: Byju Raveendran, founder of the troubled edtech company Byju’s, admitted on Thursday that he had made several mistakes, including misjudging market conditions and overestimating the company's growth potential.
Zomato's upcoming fund raise plan worth Rs 8,500 crore likely to get board nod: Report
Oct 18, 2024, at 08:39 pm
New Delhi/IBNS: Leading Indian multinational restaurant aggregator and food delivery company Zomato is expected to approve a fund raise of Rs 8,500 crore, CNBC-TV18 reported citing insider sources.
Mazagon Dock shares surge over 8.5% as board mulls stock split
Oct 18, 2024, at 08:10 pm
Mumbai/IBNS: Shares of Mazagon Dock Shipbuilders, a major public-sector shipyard under India's Ministry of Defence (MoD), saw a significant rise of nearly 8.7 percent, reaching Rs 4,608 per share on Friday (Oct. 18).
India's growth rate among shiniest in global economy: World Bank president Ajay Banga
Oct 18, 2024, at 07:34 pm
Washington/IBNS: India's economic growth stands out as a bright spot in the global economy, according to World Bank President Ajay Banga, who highlighted that much of this progress is fueled by the domestic market.
Wipro Q2FY25: Net profit jumps 21% YoY to Rs 3,209 cr
Oct 18, 2024, at 06:16 am
Mumbai: Wipro Ltd announced a 21% rise in net profit for the September quarter, reaching Rs 3,209 crore compared to Rs 2,646 crore in the same period last year, media reports said.
Infosys Q2FY25 net profit rises 4.7% YoY Rs 6,606 cr
Oct 18, 2024, at 06:00 am
Mumbai: Infosys, India’s second-largest software exporter, reported a 4.7% year-on-year (YoY) increase in net profit to Rs 6,506 crore for Q2FY25, although this fell short of estimates, media reports said.
Vishal Mega Mart files DRPH to raise Rs 8,000 cr via IPO
Oct 18, 2024, at 05:57 am
Mumbai: Gurugram-based Vishal Mega Mart has filed a draft red herring prospectus (DRHP) with SEBI to raise Rs 8,000 crore through an initial public offering (IPO), media reports said.
Oct 18, 2024, at 04:56 am
New Delhi: Canada is a major beneficiary of the India-Canada economic ties, Ministry of External Affairs spokesperson Randhir Jaiswal said on Thursday, asserting that the current crisis in the relations has been precipitated by the Justin Trudeau government’s baseless allegations.
Oct 17, 2024, at 08:39 pm
Bengaluru/IBNS: Quick commerce startup Zepto is reportedly in discussions to raise $100-150 million from Motilal Oswal, Indian family offices, and high net worth individuals (HNIs), Moneycontrol reported, citing its sources.
Hyundai Motor India IPO subscribed 2x on last day of sale
Oct 17, 2024, at 08:34 pm
Mumbai/IBNS: Hyundai Motor India Ltd's (HMIL) initial public offering (IPO) saw double the subscription on its third day of bidding, with bids for 19.96 crore shares compared to the 9.98 crore shares available, according to data from the NSE at 2 pm on Thursday (Oct. 17).
Facebook parent Meta confirms layoffs at WhatsApp, Instagram
Oct 17, 2024, at 08:30 pm
California/IBNS: After laying off 11,000 employees in 2022 and another 10,000 in 2023, Meta is conducting another round of job cuts, though this time on a much smaller scale, reports the Verge.
Haldiram Snacks' promoters revise stake sale plans, eye 10-15% offload
Oct 17, 2024, at 08:26 pm
New Delhi/IBNS: The promoters of Haldiram Snacks Food Pvt Ltd, one of India’s leading snack manufacturers, have adjusted their strategy regarding the sale of company shares.
Board of Tata Trusts meets to discuss appointment of third representative to Tata Sons
Oct 17, 2024, at 07:27 pm
Mumbai/IBNS: The board of Tata Trusts is meeting today (Thursday, Oct. 17) to discuss the appointment of a third representative to the board of Tata Sons, reports Economic Times.
Analysis of International Economic Data to Identify Investment Avenues in India
Oct 17, 2024, at 06:13 pm
Due to the interdependence of world economies, events and data releases around the globe play a major role in the movements of markets across the world, including India. By learning how to analyze such worldwide economic data, investors may more effectively indicate Indian market opportunities as well. Using interpretation of key indicators from major economies as a forecast of trends that affect Indian stock, commodity, and currency markets becomes possible.
Oct 17, 2024, at 04:54 am
Mumbai: The Shapoorji Pallonji (SP) group is expected to make a Rs 1,800 crore interest payment to bondholders by the end of October, following the conclusion of the Gopalpur port stake sale and the launch of Afcons Infrastructure's initial public offering (IPO) next week, Moneycontrol reported.
IT Dept's ITR E-Filing Portal 3.0 to be simple & user-friendly
Oct 17, 2024, at 04:18 am
New Delhi: The Income Tax department is planning to launch an upgraded e-filing platform, ITR E-Filing Portal 3.0, designed to be simpler and more user-friendly for filing returns, media reports said.
India extends full-capacity mandate for imported coal power plants till Dec 31: Report
Oct 17, 2024, at 03:53 am
New Delhi: India has extended the mandate for imported coal-based power plants to operate at full capacity until December 31, anticipating increased power demand, according to a government circular reviewed by Reuters.
Hyundai Motor IPO subscribed 42% on day 2
Oct 17, 2024, at 03:22 am
Mumbai: Hyundai Motor India's initial public offering (IPO) was 42% subscribed on the second day of bidding, October 16.
India expediting FTA negotiations with Australia to resolve key differences: Report
Oct 17, 2024, at 02:15 am
New Delhi: India is aiming to accelerate its free trade agreement (FTA) negotiations with Australia over the next two months in an effort to resolve key differences on sensitive issues and finalize the deal, media reports said.
Bajaj Auto Q2FY25 net profit jumps 9% to Rs 2,005 cr
Oct 16, 2024, at 11:14 pm
Mumbai: Bajaj Auto reported a 9% rise in standalone net profit for Q2FY25, reaching Rs 2,005 crore, media reports said.
India's trade deficit narrows sequentially to $20.78 billion in September
Oct 16, 2024, at 10:58 pm
New Delhi/IBNS: India’s trade deficit narrowed to a five-month low of $20.8 billion in September, down from $29.7 billion in August, as per data released on Wednesday (Oct. 16).
Adani Group delays $1.5 billion worth 20-year Green Bond sale as investors bid at higher yields
Oct 16, 2024, at 10:53 pm
Ahmedabad/IBNS: The Gautam Adani-led conglomerate Adani Group decided to delay a planned sale of 20-year green dollar bonds on Tuesday (Oct. 15), despite marketing the deal to investors earlier in the day, reports Bloomberg.
Union Cabinet hikes MSP for 6 Rabi crops
Oct 16, 2024, at 10:50 pm
New Delhi: Ahead of Diwali, the Union Cabinet approved an increase in the minimum support price (MSP) for six Rabi crops for the 2025-26 marketing season, Union Minister Ashwini Vaishnaw announced on October 16 during a press briefing.
Oct 16, 2024, at 09:02 pm
New Delhi/IBNS: Starlink CEO Elon Musk recently stated that Starlink "will do our best to serve the people of India."
India's gaming industry set to double by 2028: PwC report
Oct 16, 2024, at 07:19 am
Mumbai: India’s gaming industry, which encompasses both real money gaming (RMG) and casual gaming, is projected to double its revenues over the next four years from its current base of Rs 33,000 crore.
Muthoot FinCorp Ltd announces XVII Tranche II series of NCDs, aims to raise Rs 250 cr
Oct 16, 2024, at 06:49 am
Kolkata: Muthoot FinCorp Ltd has announced XVII Tranche II series of secured, redeemable, non-convertible debentures of face value of Rs 1000 each to raise an amount aggregating to Rs 250 crore which is within the shelf limit of Rs 2000 crore.
Haldia Petrochemicals Ltd. announces new appointments
Oct 16, 2024, at 06:42 am
Kolkata: Haldia Petrochemicals Ltd (HPL) announced key additions to its leadership team with the appointment of Sanjiv Vasudeva as Executive Vice President & Chief Marketing Officer (CMO) and Bani Broto Banerjee as Senior Vice President - Business Development, said an official statement.
India needs more women in workforce to spur growth, say experts
Oct 16, 2024, at 06:04 am
New Delhi: With just a 32 percent female labour force participation rate in South Asia, increasing women’s employment requires a holistic approach and action from all stakeholders, experts said at a discussion on “Policy Options to Raise Female Employment in India”, organised jointly by the National Council of Applied Economic Research and the World Bank here on Tuesday.
HCL Tech's Q2FY25 net profit rises 11% YoY to Rs 4,235 cr
Oct 16, 2024, at 05:44 am
Mumbai: HCLTech's Q2 FY25 net profit rose 11 percent on-year to Rs 4,235 crore, media reports said.