RBI's higher dividend payments might continue in FY25: SBI report
May 31, 2024, at 05:50 am
Mumbai: The higher dividends payments by the Reserve Bank of India (RBI) could continue in FY25 also, according to State Bank of India research report
NSE launches India's first EV Index
May 31, 2024, at 05:29 am
Mumbai: NSE Indices Ltd, a subsidiary of the National Stock Exchange, on Thursday launched the EV and New-Age Automotive Index, designed to track the performance of companies within the EV ecosystem.
IDFC First Bank's board approves issuance of preferential shares worth Rs 3,200 cr
May 31, 2024, at 05:07 am
Mumbai: IDFC First Bank on Thursday revealed that its board has approved the issuance of shares valued at Rs 3,200 crore on a preferential basis, priced at Rs 80.63 per equity share.
Saudi Arabia to launch Aramco share sale this Sunday to raise $10 bn: Report
May 31, 2024, at 05:03 am
Riyadh: Saudi Arabia is set to officially launch a secondary offering of shares in the oil giant Saudi Aramco, to raise over $10 billion, as early as Sunday, according to sources familiar with the matter, reported Bloomberg.
BJP's decisive win may send stock market into a strong bull run, says FM Nirmala Sitharaman: Report
May 31, 2024, at 04:55 am
New Delhi: Finance Minister Nirmala Sitharaman has stated that a decisive mandate in favour of the BJP-led NDA government on June 4 would send a positive signal to the stock market, and may drive it into a 'solid bull market'.
May 31, 2024, at 01:38 am
Mumbai: Healthcare services Apollo Hospitals Enterprise announced a staggering increase of 77 percent in its consolidated net profit for the fourth quarter of the fiscal year 2023-24, reaching Rs 258 crore, compared to Rs 146 crore in the same quarter of the previous fiscal year.
May 31, 2024, at 01:00 am
Mumbai: Sunil Bharti Mittal, who leads Bharti Airtel, has revealed that a meeting with Prime Minister Narendra Modi in September 2018 turned out to be a turning point for him at a time when his telecom company was in the midst of a severe crisis.
India, Vietnam key beneficiaries of global supply chain shift due to China+1 strategy: Nomura
May 30, 2024, at 09:05 pm
New Delhi/IBNS: Equity research and rating firm Nomura said in its latest report that India, followed by Vietnam, were the biggest beneficiaries of the shifts in global supply chains due to the China+1 strategy adopted by transnational corporations.
IRDAI sets 3-hour limit to settle cashless health claims
May 30, 2024, at 07:06 pm
Mumbai/IBNS: The Insurance Regulatory and Development Authority of India (IRDAI), an autonomous and statutory body under the jurisdiction of the Union Ministry of Finance, has released a new master circular on health insurance, in which it instructs insurers to decide on cashless authorisation within one hour of receiving a request.
CLSA predicts BJP victory may fuel rally in 54 'Modi stocks'
May 30, 2024, at 06:07 pm
Mumbai/IBNS: Hong Kong-headquartered international brokerage firm CLSA said on Wednesday that a landmark third term for the ruling Bharatiya Janata Party (BJP) on June 4 will directly benefit 54 stocks, which include public sector undertakings (PSUs), infrastructure companies and shares of some corporate groups.
IMF revises China's 2024 growth forecast to 5%, predicts slowdown to 3.3% by 2029
May 30, 2024, at 05:03 am
Beijing: The IMF on Wednesday revised its projection for China's economic growth to 5 percent in 2024, up from its previous estimate of 4.6 percent, media reports said.
Tata Steel Q4FY24: PAT drops 64.6% YoY Rs 555 cr
May 30, 2024, at 04:53 am
Mumbai: Tata Steel's net profit in January-March quarter witnessed a staggering 64.6% year-on-year decline to Rs 555 crore, as per an exchange filing released on Wednesday.
RBI imposes business restrictions on Edelweiss Group and ECL Finance Ltd
May 30, 2024, at 03:15 am
Mumbai: The Reserve Bank on Wednesday imposed business restrictions on the lending and asset reconstruction arms of the Edelweiss Group due to concerns over loan evergreening.
Stock Market: Nifty falls below 22,700 for fourth consecutive day; Sensex drops 668 points
May 29, 2024, at 10:30 pm
Mumbai: The Indian equity market extended its losing streak to a fourth consecutive session on Wednesday (May 29), with the Nifty closing at 22,700 amid selling pressure in oil & gas, IT, realty, and banking sectors.
S&P revises India's outlook from 'stable' to 'positive', maintains rating at 'BBB-'
May 29, 2024, at 10:01 pm
Mumbai: Rating agency Standard & Poor's (S&P) on Wednesday updated its outlook for the Indian economy from 'stable' to 'positive', maintaining the overall rating at 'BBB-', the lowest investment grade. The transfer and convertibility assessment continues to be 'BBB+'.
Global outsourcing honour for Indian IT Services firm Vee Technologies founder Chocko Valliappa
May 29, 2024, at 08:47 pm
Bengaluru: New York and Bengaluru Co-headquartered Tech and IT Services firm MD Chocko Valliappa has been inducted into IAOP Leadership Hall of Fame.
HDFC Bank to stop SMS alerts for UPI transactions up to Rs 100
May 29, 2024, at 06:22 pm
Mumbai/IBNS: HDFC Bank has said that it will be stopping SMS alerts for UPI transactions below Rs 100 from June 25.
Paytm, Adani Group quash report claiming Gautam Adani stake talks with Vijay Shekhar Sharma
May 29, 2024, at 06:04 pm
New Delhi/IBNS: Both Adani Group and Paytm on Wednesday dismissed recent media reports claiming Gautam Adani was likely in talks with Vijay Shekhar Sharma, the founder chairman and managing director of Paytm's parent company One97 Communications, to acquire stake in the Indian fintech major.
Three Stocks that Look Attractive in Today's Market Environment
May 29, 2024, at 06:01 pm
Large-cap tech stocks often provide a stable yet progressive investment avenue in the dynamic market, known for their solid market position, innovative capabilities, and potential for consistent growth. Even amidst market volatility and economic headwinds, certain tech giants stand out with solid fundamentals, strategic vision, and adaptability that prime them for outperformance. Here are three such large-cap tech stocks that are set to thrive in today's market environment.
Tech entrepreneur Elon Musk's xAI raises USD 6 billion to develop artificial intelligence
May 29, 2024, at 03:04 pm
Entrepreneur Elon Musk's AI startup xAI has raised USD 6 billion in series B funding, a development that might pose a possible challenge to Sam Altman's Open AI.
RBI introduces PRAVAAH portal, Retail Direct mobile app and FinTech Repository
May 29, 2024, at 04:39 am
Mumbai: The Reserve Bank of India (RBI) introduced three important initiatives on Tuesday: the PRAVAAH portal, the RBI Retail Direct mobile application, and the FinTech Repository, previously announced in April 2023, April 2024, and December 2023, respectively.
DoT identifies 600 land parcels and buildings of BSNL, MTNL for direct sale to govt depts
May 29, 2024, at 04:19 am
New Delhi: The Department of Telecommunications (DoT) has identified around 600 land parcels and buildings owned by Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL) for direct sale to government departments, public sector undertakings, and government organisations, media reported.
Reliance Industries inks one-year deal with Russia's Rosneft for oil purchase in roubles: Report
May 29, 2024, at 02:44 am
Mumbai: Mukesh Ambani-led Reliance Industries, which operates the world's largest refining plant, has signed a one-year agreement with Russia's Rosneft to purchase at least 3 million barrels of oil monthly in roubles, Reuters reported.
Byju's exploring out-of-court settlements with two of its creditors: Report
May 29, 2024, at 01:58 am
New Delhi: Troubled ed-tech firm Byju's is looking into out-of-court settlements with two of its creditors, Teleperformance and Surfer Technologies, the National Company Law Tribunal (NCLT) was informed on Tuesday, media reported.
Adani Enterprises to raise Rs 16,600 cr via QIP route
May 28, 2024, at 10:58 pm
Mumbai: The board of Adani Enterprises has approved a plan to raise Rs 16,600 crore through the Qualified Institutional Placement (QIP) route, as announced in an exchange filing on Tuesday.
Centre saved over Rs 25,500 cr via TSA and SNA bank accounts
May 28, 2024, at 10:42 pm
New Delhi: The government has saved over Rs 25,500 crore through the treasury savings account (TSA) and single nodal agency (SNA) bank accounts, Finance Minister Nirmala Sitharaman announced on Monday.
RBI imposes Rs. 1 crore penalty on ICICI Bank, fines Yes Bank Rs. 91 lakhs for non-compliance
May 28, 2024, at 09:10 pm
Reserve Bank of India has fined private lenders Yes Bank and ICICI Bank over non-compliance.
May 28, 2024, at 07:57 pm
Mumbai/IBNS: Hyundai Motor Co has also picked major investment banks Kotak Mahindra Capital and Morgan Stanley as its advisors for initial public offering (IPO) of its arm Hyundai Motor India Limited on the domestic bourses, reports said.
Reliance partnering up with Tech Mahindra and Nokia to offer 4G/5G network support in Ghana: Reports
May 28, 2024, at 06:55 pm
Mumbai/IBNS: After touching new heights with 5G network infrastructure in India, Mukesh Ambani, the chairperson of Reliance Industries -- India's most valuable company with a market cap of more than Rs 1989000 crore, is now planning to take his giant-killer telecom playbook to Africa and other continents.
Oil prices rise over 1% ahead of inflation data after downbeat week
May 28, 2024, at 06:26 pm
Houston/IBNS: The prices of crude oil rose over 1 percent in muted trade owing to public holidays in Britain and the United States after a downbeat week characterised by the outlook for US interest rates in the face of sticky inflation, reports said.