Aug 13, 2024, at 10:56 pm
Mumbai/Kolkata: After remaining tepid for two months, truck rentals across key trunk routes witnessed a rebound in July, according to a report.
Bajaj Finance in talks to borrow $500 million offshore borrowing
Aug 13, 2024, at 10:52 pm
Mumbai: India's largest non-banking finance company by market value is planning to raise up to $500 million through offshore borrowing, Bloomberg reported, citing sources who requested anonymity due to the private nature of the talks.
India's weight on MSCI Global Standard index rises to record high
Aug 13, 2024, at 08:19 pm
Mumbai/IBNS: India's weight on the MSCI Global Standard index has risen to another record high, which is likely to attract inflows of about $3 billion into its equity markets, reports Reuters.
Inox Wind bags 51 MW equipment supply order from Everrenew Energy
Aug 13, 2024, at 08:12 pm
New Delhi/IBNS: Indian wind energy service provider Inox Wind Ltd has bagged a 51-megawatt (MW) equipment supply order from Chennai-based renewable energy company Everrenew, reports said.
India's retail inflation declines to near 5-year-low of 3.5% in July
Aug 13, 2024, at 06:34 pm
New Delhi/IBNS: India’s inflation fell to a 59-month low of 3.5 percent in July 2024 compared with 5.1 percent in the previous quarter, as a favourbale base helped contain pressures, according to data released on Monday (August 12).
Bharti Enterprises' international arm to buy 24.5% stake in UK's BT Group worth $4 bn
Aug 12, 2024, at 10:15 pm
London/IBNS: Bharti Televentures UK Ltd, a wholly owned subsidiary of Bharti Enterprises’s international investment arm Bharti Global, will buy a 24.5 percent stake in British Telecom (BT) Group Plc, the United Kingdom's largest mobile and broadband services provider, the companies said in a statement on Monday (August 12).
Tata Curvv EV bookings open today, deliveries to begin from August 23
Aug 12, 2024, at 07:02 pm
Mumbai/IBNS: Tata Motors on Monday (August 12) officially launched bookings for its newly launched electric vehicle, Tata Curvv EV.
Ola Electric shares jump 20% on second day of trading amid strong demand
Aug 12, 2024, at 06:05 pm
Mumbai/IBNS: Shares of recently listed Ola Electric Mobility jumped 20 percent to hit an upper circuit of Rs 109.44 apiece on Monday (August 12), extending gains for a second consecutive session.
Hindenburg says SEBI chief Madhabi Puri Buch's response raises 'new critical questions'
Aug 12, 2024, at 03:50 pm
New York-headquartered Hindenburg Research on Monday said market regulator Securities and Exchange Board of India (Sebi) chief Madhabi Puri Buch's response to the allegations levelled against her includes several admissions that raise numerous “new critical questions.”
UPI merchant transactions in Nepal surpass 100,000 mark, announces NPCI
Aug 12, 2024, at 02:00 am
NPCI International Payments Limited (NIPL), the international armof National Payments Corporation of India (NPCI), recently announced surpassing 100,000 cross-border Unified Payments Interface (UPI) Person-toMerchant (P2M) transactions in Nepal.
'Discredited short-seller, recycled claims': Adani Group on Hindenburg's new report
Aug 11, 2024, at 08:30 pm
Mumbai: The Adani Group has dismissed the latest report from the US-based short-seller Hindenburg Research, calling it "recycled claims" that had previously been "proven baseless and dismissed by the Supreme Court." The ports-to-power conglomerate stated that the allegations were driven by personal gain, with no regard for facts or the law.
SEBI Chief rubbishes Hindenburg Report: 'Attempt at character assassination'
Aug 11, 2024, at 06:58 pm
Mumbai: SEBI Chairman Madhabi Puri Buch and her husband Dhaval Buch have firmly dismissed the latest report from Hindenburg Research, labelling it as "baseless allegations and insinuations."
Aug 11, 2024, at 06:29 am
Mumbai: The US-based short-seller firm Hindenburg Research on Saturday claimed that whistleblower documents reveal Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch had an interest in the obscure offshore entities implicated in the "Adani money siphoning scandal."
After UCO Bank, Bank of Baroda and Canara Bank to hike interest rates from Monday
Aug 10, 2024, at 11:28 pm
New Delhi/IBNS: Leading Indian public-sector banks such as UCO Bank, Canara Bank and Bank of Baroda have increased their Marginal Cost of Funds-based Lending Rates (MCLR) in different tenures which will result in higher costs for consumer loans, reports said.
Aug 10, 2024, at 10:42 pm
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Saturday (Aug 10) urged banks to focus on ‘core banking’ and to bring in innovative products to mobilise deposits during a meeting with members of the Reserve Bank of India’s (RBI) Central Board of Directors, reports said.
'Something big soon India': Hindenburg Research hints at new Indian target after Adani Group
Aug 10, 2024, at 08:46 pm
New York/IBNS: American investment research firm Hindenburg Research suggested another major revelation involving an Indian company may be imminent.
India projected to surpass China to become world's largest two-wheeler market
Aug 10, 2024, at 08:38 pm
New Delhi/IBNS: India is projected to overtake China to become the world's largest two-wheeler nation in CY24, as per Counterpoint Research.
Equity mutual fund inflows drop 9% to Rs 37,000 crore in July
Aug 09, 2024, at 11:12 pm
Mumbai/IBNS: Inflow in equity mutual funds slumped 9 percent month-on-month (MoM) to Rs 37,113 crore in July 2024 owing to the drop in fund infusion in large-cap, small- and mid-cap categories, reports said.
Ambani family's wealth 10% of India GDP: 2024 Barclays-Hurun India report
Aug 09, 2024, at 10:13 pm
Mumbai/IBNS: The Ambani family has topped the inaugural Barclays-Hurun India most valuable family businesses list, with a valuation of Rs 25.75 trillion, which is almost equivalent to 10 percent of India’s Gross Domestic Product (GDP), reports Business Standard, quoting the 2024 Barclays-Hurun India report on the most valuable family businesses in the country.
LIC looking to acquire health insurance companies: Report
Aug 09, 2024, at 07:57 pm
Mumbai/IBNS: The Life Insurance Corporation of India (LIC) is planning to take the acquisition route to get into the health insurance business, the Times of India (TOI) reported, citing LIC's MD and CEO Siddhartha Mohanty.
Bajaj Finance receives Rs 341 crore GST ’evasion’ notice from DGGI: Report
Aug 09, 2024, at 06:47 pm
Pune/IBNS: Pune-headquartered non-banking financial company Bajaj Finance has received a Rs 341 crore show-cause notice from the Directorate General of Goods and Services Tax Intelligence (DGGI) alleging tax evasion by wrongfully categorising a service charge as an interest charge in an August 3 notice, as per a report by Economic Times.
Birla Corporation’s June qtr capacity utilization at 91% in contracting market
Aug 09, 2024, at 05:34 am
Kolkata: MP Birla Group's flagship company on Thursday said its June quarter profitability dropped due to unusually weak cement prices and sluggishness in demand, coupled with an unprecedented downturn in the jute industry.
GST on health and life insurance premiums may be reduced: Report
Aug 08, 2024, at 10:44 pm
New Delhi/IBNS: The Goods and Services Tax (GST) rate on the premium paid on health and life insurance may be reduced as a proposal in this regard has been sent to the GST rate rationalisation committee, CNBC-Awaaz reported on Thursday (Aug 8) citing sources familiar with the development.
YouTube Shorts hit 1 lakh crore view milestone in India: CEO Neal Mohan
Aug 08, 2024, at 10:34 pm
New Delhi/IBNS: YouTube chief executive officer (CEO) Neal Mohan announced on Wednesday that YouTube Shorts, a 60-second video format which made its global debut in India in 2020, has crossed a trillion views.
Maruti Suzuki to recall 2,555 Alto K10 units over steering gear box defect
Aug 08, 2024, at 08:12 pm
New Delhi/IBNS: Maruti Suzuki, India's largest passenger car maker, will recall 2,555 units of Alto K10 car due to a possible defect in Steering Gear Box, the company said in the statement.
RBI keeps repo rate unchanged at 6.5% for ninth time in a row
Aug 08, 2024, at 06:55 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday (Aug 8) kept the repo rate — the central bank's rate for short-term loans to banks — unchanged at 6.5 percent by 4:2 majority, maintaining withdrawal of accommodation.
Axis Bank facilitates seamless GST payments for its commercial card clients
Aug 08, 2024, at 06:36 am
Kolkata: Axis Bank today announced its successful integration with the Goods and Service Tax portal, thereby allowing its Commercial Card Corporate customers to make GST payments seamlessly.
NSE net profit rises 39% to Rs 2,567 cr in Q1FY25
Aug 08, 2024, at 06:22 am
Mumbai: The National Stock Exchange (NSE) reported a 39 percent year-on-year increase in consolidated net profit, reaching Rs 2,567 crore for the quarter ending June 2024.
Govt rolls back LTCG taxes: Big relief for property owners
Aug 08, 2024, at 05:38 am
New Delhi: In a significant relief for property owners, the central government has proposed an amendment to the long-term capital gains (LTCG) taxes for properties purchased before July 23, 2024, media reports said.
DoT disconnects 73 lakh mobile connections bought using fake documents
Aug 08, 2024, at 04:35 am
New Delhi: Telecom operators have disconnected 73 lakh mobile connections obtained using fake proof of identity or address, the Department of Telecommunications (DoT) informed Parliament on Wednesday.