BPCL Q2FY25 net profit slumps 72% YoY to Rs 2,297 cr
Oct 25, 2024, at 11:23 pm
Mumbai: Bharat Petroleum Corporation Limited (BPCL) reported a 72% year-on-year decline in consolidated net profit for Q2 FY2024-25, standing at Rs 2,297 crore due to reduced refining margins and lower crack spreads, according to a Moneycontrol report.
Sensex nosedives 662 points to touch 79,402.29
Oct 25, 2024, at 10:53 pm
The Indian equity market continued its fall for the gift consecutive session with the BSE Sensex touching 79,402.29 after crashing 662.87 pts on Friday.
IDBI Bank Q2FY25 net profit jumps 39% YoY to Rs 1,836 cr; NII grows 26%
Oct 25, 2024, at 10:51 pm
Mumbai: IDBI Bank reported a significant increase in its net profit, which surged by 39% to Rs 1,836 crore compared to Rs 1,323 crore in Q2 FY24.
YouTube Shopping opens up in India; collaborates with Flipkart, Myntra to launch affiliate programme
Oct 25, 2024, at 10:35 pm
Mumbai: Google-owned YouTube announced on Friday that it would expand its shopping feature in India by launching the YouTube Shopping affiliate programme, media reports said.
Central government increases loan limit under Pradhan Mantri Mudra Yojana (PMMY) to Rs.20 lakh
Oct 25, 2024, at 10:29 pm
The Centre on Friday announced the limit of Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) has been enhanced from current Rs. 10 lakh to Rs. 20 lakh.
Godrej Properties secures Letter of Intent to develop luxury group housing plot in Gurugram
Oct 25, 2024, at 08:38 pm
New Delhi/IBNS: Godrej Properties announced on Friday (Oct. 25) that it has emerged as the highest bidder for a prime luxury group housing plot in Gurugram, with a projected revenue potential exceeding Rs 5,500 crore.
Salary account with a debit card: How to unlock special privileges you didn’t know existed
Oct 24, 2024, at 10:46 pm
A salary account is often seen as a straightforward banking tool for receiving monthly pay checks and managing personal finances. However, when paired with a debit card, it unlocks a world of privileges that go beyond everyday transactions. The convenience of accessing your salary instantly is just the beginning—there are numerous hidden benefits linked to the debit cards issued with salary accounts that can make banking more rewarding. With an IDFC FIRST Bank Salary Account, the associated debit cards offer not only seamless transactions but also exciting perks, privileges, insurance security, and financial freedom.
Uber's ride-hailing service to generate Rs 36,000 cr worth of economic activity in India in 2024
Oct 24, 2024, at 10:27 pm
New Delhi: Uber's two- and three-wheeler services, Uber Moto and Uber Auto, are projected to generate up to Rs 36,000 crore in economic activity in India in 2024, according to the company's 2024 India Economic Impact report.
Boeing strike continues as 64% of workers reject 35% wage hike offer
Oct 24, 2024, at 08:31 pm
Virginia/IBNS: Boeing factory workers voted on Wednesday (Oct. 23) to reject a new contract offer, extending their strike, which has now lasted over five weeks.
IMF highlights significant manufacturing shift towards India and China
Oct 24, 2024, at 08:09 pm
New Delhi/IBNS: The International Monetary Fund (IMF), in its latest "World Economic Outlook" report, has highlighted a notable shift in global manufacturing towards emerging markets like India and China, as advanced economies face declining competitiveness.
Nvidia partnering with Reliance to build AI infra in India: Jensen Huang
Oct 24, 2024, at 07:36 pm
Mumbai/IBNS: Jensen Huang, the CEO of American chip maker Nvidia, announced on Thursday (Oct. 24) that the company is collaborating with Reliance Industries to develop artificial intelligence (AI) infrastructure in India.
NVIDIA's Blackwell chips will be available for shipping from Q4 this year: CEO Jensen Huang
Oct 24, 2024, at 06:40 pm
Mumbai/IBNS: NVIDIA Corporation’s CEO Jensen Huang announced that the company’s advanced Blackwell chips, key to its next-generation GPU architecture, will begin shipping to customers in the fourth quarter of this year.
RBI approves appointment of Pranav Chawda as CEO of JP Morgan Chase banking unit in India
Oct 24, 2024, at 06:01 am
Mumbai: The Reserve Bank of India (RBI) has approved the appointment of Pranav Chawda as the chief executive officer of JPMorgan Chase & Co.’s local banking unit for a three-year term, Bloomberg reported, citing a statement from the US lender on Wednesday.
Finance Ministry to decide on scrapping windfall tax as crude prices decline, says PM's advisor
Oct 24, 2024, at 05:43 am
New Delhi: The Union finance ministry is expected to decide on scrapping the windfall tax on crude oil, as falling prices have made the levy less relevant, said Prime Minister’s advisor Tarun Kapoor, media reports said.
Air India, Singapore Airlines deepen partnership with 51 new codeshare destinations
Oct 24, 2024, at 05:36 am
Air India and Singapore Airlines (SIA) have agreed to significantly expand their codeshare agreement, adding 11 Indian cities and another 40 international destinations to their network.
Digital payments in India more than double since 2021, cash transactions fall
Oct 24, 2024, at 04:45 am
New Delhi: Cash continues to account for 60% of consumer expenditure, though its share is steadily declining due to a post-Covid shift toward digital payments, as of March 2024, according to a study by a Reserve Bank of India (RBI) economist, reported The Economic Times.
Centre scraps MEP on non-basmati white rice
Oct 24, 2024, at 04:25 am
New Delhi: The Union government on Wednesday removed the minimum export price (MEP) of $490 per tonne on non-basmati white rice exports to boost shipments.
Pidilite Industries Sept quarter surges 18.8% to Rs 5.35 billion
Oct 24, 2024, at 04:07 am
Mumbai: Pidilite Industries exceeded profit expectations for the second quarter, driven by a slower rise in input costs, Reuters reported.
TVS Motor Q2FY25 net profit soars 45% YoY to Rs 560.49 cr
Oct 24, 2024, at 03:23 am
Mumbai: TVS Motor Company reported a 45 percent increase in consolidated net profit for the quarter ending September 2024 (Q2FY25), reaching Rs 560.49 crore, up from Rs 386.34 crore in the same period last year, media reports said.
Hindustan Unilever Q2FY25 consolidated net profit slumps 2.4% YoY to Rs 2,591 cr
Oct 24, 2024, at 02:59 am
Mumbai: Hindustan Unilever Ltd (HUL) reported a 2.4 percent decline in its Q2FY25 consolidated net profit, falling to Rs 2,591 crore from Rs 2,668 crore in the same quarter last year, media reports said.
Oct 23, 2024, at 09:58 pm
Mumbai/IBNS: Jio Financial Services Ltd., led by billionaire Mukesh Ambani, has been in discussions with Allianz SE to form a new insurance partnership in India, Bloomberg reported, citing sources familiar with the matter.
Paytm secures NPCI nod to onboard new UPI users
Oct 23, 2024, at 09:55 pm
New Delhi/IBNS: One97 Communications Limited, the parent company of Paytm, has received the green light from the National Payments Corporation of India (NPCI) to onboard new users for its Unified Payments Interface (UPI) platform.
Zomato increases platform fee on food delivery to Rs 10 to 'maintain services during festive rush'
Oct 23, 2024, at 08:19 pm
New Delhi/IBNS: Indian multinational restaurant aggregator and food delivery company Zomato has increased its platform fee on food delivery to Rs 10 from Rs 7 amid the festive rush.
Hyundai Motor India shares climb up to 6% following stock listing on NSE, BSE
Oct 23, 2024, at 07:37 pm
Mumbai/IBNS: Hyundai Motor India’s shares saw a rise of up to 6 percent on Wednesday (Oct. 23), a day after their discounted debut on the NSE and BSE.
Allianz 'actively considering exit' from Bajaj insurance joint ventures in India
Oct 23, 2024, at 07:25 pm
Mumbai/IBNS: Bajaj Finserv has announced that its joint venture partner, Allianz, is "actively considering" an exit from their life and general insurance ventures.
Oct 23, 2024, at 05:36 am
New Delhi: The Competition Commission of India (CCI) has approved Bharti Airtel's proposal to increase its stake in Indus Towers, following a buyback of shares by the telecom infrastructure company. Indus Towers, a passive telecom infrastructure provider, deploys, owns, and manages infrastructure for various mobile operators.
Odisha emerges as India's steel hub, contributing 25% of national production
Oct 23, 2024, at 05:16 am
Bhubaneswar: Odisha has emerged as the country's steel manufacturing hub with Odisha accounting for 25% of the India’s total steel production, according to MD and CEO of mjunction services Ltd Vinaya Varma.
Zomato plans to raise Rs 8,100 cr via QIP: Report
Oct 23, 2024, at 04:33 am
Mumbai: Food aggregator Zomato, which announced a massive 388% YoY Q2FY25 net profit on Tuesday, revealed plans for a qualified institutional placement (QIP) to raise additional funds, reinforcing the bullish sentiment from brokerages, media reports said.
Adani Group gets SEBI notice over allegations of misclassifying certain investors
Oct 23, 2024, at 04:11 am
Mumbai: The Securities and Exchange Board of India (SEBI ) has issued a notice to the Adani Group over allegations of misclassifying certain investors as public shareholders, as disclosed by Adani Energy Solutions in its September quarter results filed on Tuesday, October 22, media reports said.
IMF keeps India's FY25 growth forecast unchanged at 7%
Oct 23, 2024, at 02:26 am
New Delhi: The International Monetary Fund (IMF) has maintained India's GDP growth forecast for FY25 at 7 percent, according to its latest World Economic Outlook released on October 22.