McDonald’s sales drop globally for first time in over three years
Jul 30, 2024, at 06:27 pm
Chicago/IBNS: American multinational fast food chain McDonald’s has reported its first fall in global sales in over three years as inflation-weary consumers seek out cheaper options and cut back on eating out, reports said.
Survey reveals 51% Indian EV car owners want to switch back to ICE vehicles as dissatisfaction grows
Jul 30, 2024, at 05:39 pm
New Delhi/IBNS: A recent survey by Park+, a leading app for car owners, has revealed that 51 percent of electric vehicle (EV) owners in India expressed a preference to switch back to conventional internal combustion engine (ICE) vehicles due to everyday hassles associated with EV ownership.
Takeover by UltraTech Cement won't hit jobs, Srinivasan assures India Cements' staff
Jul 30, 2024, at 05:16 pm
Chennai/IBNS: N. Srinivasan, the vice chairman and managing director of India Cements, has assured his employees that the company's takeover by UltraTech Cement will not impact their career.
Key indicators show Indian economy remaining on course, says NCAER Monthly Review
Jul 30, 2024, at 12:37 am
Amid signs of receding global shocks, the latest high-frequency indicators like PMI expansion for manufacturing and services and bank credit growth besides the forecast of above-normal monsoon rains in July hold out the projected growth promise for the Indian economy, according to the Monthly Economic Review for July released by National Council of Applied Economic Research (NCAER).
FPIs invest Rs 33,600 cr in equities in July
Jul 29, 2024, at 08:59 pm
Mumbai/IBNS: Foreign portfolio investors (FPIs) injected over Rs 33,600 crore into Indian equities so far in July on the expectation of continued policy reforms, sustained economic growth and a better-than-expected earnings season, reports said.
Jul 29, 2024, at 08:43 pm
Mumbai/IBNS: The Indian jewellery retail market, which is largely dominated by the Ambanis and the Tatas, is set to witness intense competition with the Aditya Birla Group entering the Rs 6.7 trillion market with its in-house jewellery brand "Indriya".
SEBI study finds married traders outperform single traders in profit-making
Jul 29, 2024, at 08:23 pm
Mumbai/IBNS: An extensive analysis of intraday trading patterns conducted by the Securities and Exchange Board of India (SEBI) has revealed a surprising correlation between trading performance and relationship status.
Ola Electric's IPO opens on August 2; price band announced: Check out details and insights
Jul 29, 2024, at 08:20 pm
Bengaluru: The initial public offering (IPO) of Ola Electric Mobility will open for subscription on August 2, with a price band set at Rs 72-76 per share. Investors are required to apply in lots of 195 equity shares or multiples thereof. The IPO, which will close on August 6, is expected to list the company's shares on both BSE and NSE on August 9. Here are the essential details:
WazirX unveils fund recovery plan after $230 mn cyberattack
Jul 29, 2024, at 07:30 pm
Mumbai/IBNS: Days after losing $230 million to a cyberattack, Indian crypto exchange platform WazirX is launching a fund recovery plan based on a user poll the cryptocurrency platform will conduct by August 3.
Jammu and Kashmir administration approves Rs 400 crore rooftop solar project for govt buildings
Jul 29, 2024, at 06:31 pm
Srinagar/IBNS: The Jammu and Kashmir administration on Sunday (July 28) approved a Rs 400 crore project to install grid-tied rooftop solar power systems on all government buildings in the union territory, reports said.
UltraTech Cement shares gain after its board approves additional 32.72% acquisition of India Cements
Jul 29, 2024, at 06:17 pm
Mumbai/IBNS: The share price of UltraTech Cement gained over a percent in early trade on Monday (July 29), a day after the company announced the acquisition of another 32.72 percent stake in India Cements.
Aditya Birla Group forays into Rs 6.7 trn Indian jewellery retail market with 'Indriya'
Jul 27, 2024, at 06:42 pm
Mumbai/IBNS: The Aditya Birla Group on Friday (July 26) ventured into the rapidly expanding Rs 6.7 trillion Indian jewellery retail market with the launch of its in-house jewellery brand 'Indriya'.
Govt extends EV subsidy scheme EMPS by two months
Jul 27, 2024, at 05:29 pm
New Delhi/IBNS: In a significant move to accelerate India's transition to electric vehicles, the Centre on Friday (July 26) announced a two-month extension of the Electric Mobility Promotion Scheme (EMPS) 2024.
iPhones get cheaper by up to Rs 6,000 after customs duty relief in Budget
Jul 27, 2024, at 07:44 am
New Delhi: Apple has reduced the prices of its iPhones by 3-4% across its entire range, allowing customers to save between Rs 5,100 and Rs 6,000 on Pro or Pro Max models.
Power Grid Corporation of India Q1FY25 net profit rises 3.52% to Rs 3,724 cr
Jul 27, 2024, at 06:29 am
Mumbai: Power Grid Corporation of India (PowerGrid) reported a 3.52 percent increase in its consolidated net profit, reaching Rs 3,723.92 crore for the June quarter.
SEBI bars fugitive businessman Vijay Mallya from trading in securities market
Jul 27, 2024, at 05:56 am
Mumbai: The Securities and Exchange Board of India (SEBI) has banned fugitive businessman Vijay Mallya from accessing the securities market for three years, media resports said.
Govt to push forward majority stake sale in IDBI following key RBI approval
Jul 27, 2024, at 02:38 am
New Delhi: Government will press ahead with the delayed sale of a majority stake in IDBI Bank after central bank clearance, opening bids for the lender before the end of the financial year, Reuters reported, citing a top finance ministry official said on Friday.
IndiGo Q1FY25: Net profit drops 11.7% to Rs 27,288 million on increased expenses
Jul 27, 2024, at 01:56 am
Gurugram: IndiGo operator Interglobe Aviation reported an 11.7% drop in net profit in the first-quarter of FY25 to Rs 27,288 million against Rs 30,906 million with increased expenses overshadowing strong air travel demand.
Indian auto component industry clocks Rs. 6.14 lakh crore turnover in FY 2023-24
Jul 27, 2024, at 12:00 am
Automotive Component Manufacturers Association of India (ACMA), the apex body representing India’s Auto Component manufacturing industry on Thursday announced the findings of its Industry Performance Review for the fiscal year 2023-24 which showed the turnover of the automotive component industry stood at Rs. 6.14 lakh crore (USD 74.1 billion) for the period, registering a growth of 9.8% over the previous year.
'Confidence in the India story': ITC to invest Rs 20,000 cr in medium term, says CMD Sanjiv Puri
Jul 26, 2024, at 10:37 pm
Kolkata: ITC plans to invest Rs 20,000 crore in the medium term, reflecting its strong belief in India's economic potential, according to Sanjiv Puri, the chairman and managing director of the consumer goods company, media reports said.
LIC-backed SJVN's stock skyrockets after PSU bags Rs 14,000 crore pumped storage project in Mizoram
Jul 26, 2024, at 10:23 pm
Mumbai/IBNS: Shares of Life Insurance Corporation (LIC)-backed Satluj Jal Vidyut Nigam Ltd (SJVN) rose 13 percent in early trades on Friday (July 26) after SJVN said it has secured a Letter of Intent from the Government of Mizoram to develop the 2,400 MW Darzo Lui Pumped Storage Project worth Rs 13,947 crore, marking the firm's entry to the North-Eastern state.
RBI proposes stricter LCR norms for banks, releases draft guidelines
Jul 26, 2024, at 07:31 pm
New Delhi/IBNS: The Reserve Bank of India (RBI), in view of the rising number of mobile and internet banking users, has proposed to tighten norms related to the liquidity coverage ratio (LCR) by increasing the run-off factor for retail deposits, reports said.
Mankind Pharma acquires Bharat Serums and Vaccines from Advent International for Rs 13,630 crore
Jul 26, 2024, at 07:20 pm
Mumbai/IBNS: Mankind Pharma Ltd, India’s fourth largest pharmaceutical company by market share, on Thursday (July 25) said it has entered into a definitive agreement to acquire a 100 percent stake in Bharat Serums and Vaccines (BSV) from Advent International for an enterprise value of Rs 13,630 crore, according to reports.
Foxconn eyes expansion in India, plans Apple iPad assembly in Tamil Nadu plant 'soon': Report
Jul 26, 2024, at 05:45 pm
New Delhi/IBNS: Foxconn has been eyeing major expansion in India as the Taiwanese tech major is planning to assemble Apple's flagship tablet iPad at its Sriperumbudur facility in Tamil Nadu, according to a report by the Economic Times.
Foreign investors pull out $1.27 billion from Indian stock market after Union Budget
Jul 26, 2024, at 05:10 pm
Mumbai/IBNS: Foreign portfolio investors (FPIs) have taken out almost Rs 10,710 crore ($1.27 billion) from the Indian stock market in the last three days after the government, in the Union Budget, raised taxes on derivatives trades and on capital gains from equity investments, reports said.
Canara Bank Q1FY25: Profit grows 11% YoY to Rs 3,905 cr; NII grows 6%
Jul 26, 2024, at 07:22 am
Bengaluru: State-run lender Canara Bank Thursday reported a 10.5 percent YoY growth in net profit at Rs 3,905.28 crore in the Q1FY25, compared to Rs 3,535 crore in the same period last year.
Tata Motors’ market capitalization surpasses Rs 4 trillion
Jul 26, 2024, at 04:21 am
Mumbai: Tata Motors’ market capitalization crossed Rs 4 trillion for the first time on Thursday.
IPO-bound Ola Electric suspends electric car project: Report
Jul 26, 2024, at 03:22 am
Bengaluru: India's IPO-bound Ola Electric has paused its plans to launch electric cars, choosing instead to concentrate on its e-scooter business, according to a Reuters report.
Govt to cover MTNL's bond payments amid liquidity crisis: Report
Jul 26, 2024, at 02:39 am
New Delhi: The government will handle all future bond payments for Mahanagar Telephone Nigam Ltd. (MTNL) as the state-owned company deals with a liquidity crisis, according to a Bloomberg report.
Ashok Leyland Q1FY25 profit slumps 9% to Rs 526 cr; revenue rises 5%
Jul 26, 2024, at 01:54 am
Chennai: Hinduja Group company Ashok Leyland reported an 8.7 percent decline in standalone net profit at Rs 525.58 crore in the first quarter of FY25, compared to Rs 576.42 crore in the corresponding period of previous financial year.