Kotak Mahindra Bank to acquire Rs 4,100 cr Standard Chartered Bank India's personal loan book
Oct 19, 2024, at 05:56 am
Mumbai: Kotak Mahindra Bank Limited has announced its acquisition of Standard Chartered Bank India's personal loan portfolio, valued at approximately Rs 4,100 crore as of September 30, 2024.
Mining major Vedanta to invest Rs 1 lakh cr in Odisha
Oct 19, 2024, at 05:25 am
Mumbai: Vedanta, a major player in metals and mining, announced plans on Friday to invest Rs 1 lakh crore in Odisha to establish a 6 million tonne per annum (MTPA) alumina refinery and a 3 MTPA green aluminium plant, media reports said.
Oct 19, 2024, at 04:48 am
Mumbai: JSW Steel on Friday said it will acquire a 100% stake in Thyssenkrupp Electrical Steel India jointly with Japan's JFE Steel Corp for Rs 4,051.4 crore.
Zee Entertainment Enterprises Q2FY25 net profit soars 70% to Rs 209 cr
Oct 19, 2024, at 04:12 am
Mumbai: Zee Entertainment Enterprises (ZEEL) reported a net profit of Rs 209.4 crore for the second quarter of FY25, marking a 70.2% year-on-year (Y-o-Y) increase, driven by cost-cutting measures, media reports said.
Tata Consumer Products Q2FY25 net profit at Rs 359 cr
Oct 19, 2024, at 02:44 am
Mumbai: Tata Consumer Products Ltd reported a flat net profit of Rs 359 crore for the September quarter, media reports said.
Jio Financial Q2FY25 net profit rises 3% YoY to Rs 689 cr
Oct 19, 2024, at 02:36 am
Mumbai: Jio Financial Services Ltd, which was spun off from Reliance Industries Ltd and listed on the stock exchanges last year, reported a year-on-year 3% increase in net profit to Rs 689 crore for the quarter ending September 30, according to media reports.
Ather Energy introduces care service plans for customers
Oct 19, 2024, at 12:07 am
EV major Ather Energy introduced the Ather Care service plans for its customers.
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.