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.
HSBC Holdings appoints Pam Kaur as its first female finance chief
Oct 23, 2024, at 01:41 am
Mumbai: HSBC Holdings appointed insider Pam Kaur as its first female finance chief on Tuesday, replacing Georges Elhedery, who became CEO earlier this year, Reuters reported.
SEBI directs regulated entities to scrap ties with unregistered advisors
Oct 23, 2024, at 01:20 am
Mumbai: Entities regulated by the Securities and Exchange Board of India (Sebi) and their agents have been instructed to sever ties with individuals offering investment advice or recommendations without being registered with the regulator, as well as with those making performance or returns claims without regulatory approval.
Zomato Q2fy25 net profit jumps 389% YoY to Rs 176cr
Oct 22, 2024, at 11:13 pm
Mumbai: Online food delivery giant Zomato Ltd reported a massive 389% year-on-year surge in consolidated net profit for the second quarter of FY25, reaching Rs 176 crore, media reports said.
BSE Sensex tanks over 930 points today
Oct 22, 2024, at 10:54 pm
The BSE Sensex crashed 930.55 to close at 80,220.72 points with heavy selling seen across the board along with weak global cues.
Adani Group's Ambuja Cements to acquire 47% stake in Orient Cement for Rs 8,100 crore
Oct 22, 2024, at 08:31 pm
Ahmedabad/IBNS: Ambuja Cements, a subsidiary of the Adani Group, announced on Tuesday (Oct. 22) the signing of a binding agreement to acquire Orient Cement Ltd (OCL) for Rs 8,100 crore.
Hyundai Motor India shares list at 1.32% over IPO price at Rs 1,934 on NSE
Oct 22, 2024, at 07:40 pm
Mumbai/IBNS: Hyundai Motor India shares had a subdued debut on Tuesday (Oct. 22), listing at a 1.32 percent discount at Rs 1,934 on the NSE, compared to its IPO price of Rs 1,960.
Invested Rs. 10,000 Monthly? This Mutual Fund Grew It to Rs. 5.41 Lakh in Just 3 Years!
Oct 21, 2024, at 09:57 pm
Investing in mutual funds has long been considered a reliable way to grow wealth, especially through the power of compounding and disciplined investment. For those who have been investing Rs. 10,000 monthly in a mutual fund investment, the returns can be quite substantial over time. One example that stands out is the SBI Magnum Benefit Fund Investment Plan, which has shown remarkable growth, turning regular monthly investments into significant returns in just three years. In this article, we'll explore how this fund performed, how mutual fund investments work, and why consistent investing can yield substantial gains.
Foreign institutional investors shift focus to IPOs, sell nearly $10 billion in secondary markets
Oct 21, 2024, at 07:30 pm
New Delhi/IBNS: Foreign institutional investors (FIIs) have offloaded nearly $10 billion worth of shares in the secondary markets in October, despite maintaining investment activity in the primary market amid a surge of IPOs.
MCX Gold rate nears record high of Rs 80,000/10 gm mark, silver prices at fresh peak
Oct 21, 2024, at 07:26 pm
Mumbai/IBNS: Gold and silver prices surged to new record highs in the domestic futures market on Monday (Oct. 21) morning, buoyed by strong spot demand and favourable global trends.
Microsoft-OpenAI 'bromance' frays as tensions rise over funding, staff clashes, and new AI deals
Oct 21, 2024, at 01:46 am
San Francisco: Sam Altman, co-founder of OpenAI, once described the company's partnership with Microsoft as “the best bromance in tech.” However, this relationship is now strained, as Microsoft appears to be hedging its bets, according to a report by the New York Times.
GoM proposes exemption of health insurance premiums, term life cover from GST
Oct 20, 2024, at 05:27 am
New Delhi: The Group of Ministers (GoM) on GST rate rationalisation said on Saturday that health insurance premiums paid by senior citizens, and premiums paid on term life insurance will be exempted from GST, media reports said.
Oct 20, 2024, at 04:59 am
New Delhi: The Group of Ministers (GoM) on GST rate rationalisation has decided to reduce tax rates on 20-litre packaged drinking water bottles, bicycles, and exercise notebooks to 5 percent, while proposing an increase in taxes on high-end wristwatches and shoes, media reports said.
Google search and advertising chief Prabhakar Raghavan steps down as regulatory pressure mounts
Oct 19, 2024, at 09:19 pm
California/IBNS: Google has announced a significant leadership restructuring within the company.
GNCAP, BNCAP ratings: Safest cars to buy this Diwali
Oct 19, 2024, at 09:17 pm
Buying a new car during the festive season is a popular trend in India, with many people looking to fulfill their aspirations of owning a new vehicle.
Oct 19, 2024, at 06:50 pm
New Delhi/IBNS: Economic activity in India continues to be on its dynamic and positive path, albeit at a moderated pace.