Indian government setting up 12 new industrial parks: Piyush Goyal
Aug 02, 2024, at 04:39 am
Union Minister Piyush Goyal recently said the Indian government is setting up 12 new industrial parks across the country and has 5-6 mega textile parks lined up and urged the private sector to take advantage of it.
Ola Electric IPO: Bhavish Aggarwal-led company raises Rs 2,763 crore from QIPs
Aug 02, 2024, at 04:34 am
Mumbai: Ola Electric, India's largest electric two-wheeler manufacturer, allocated 364 million shares to anchor investors, raising Rs 2,763 crore, media reports said.
Ransomware attack on technology service provider hits 300 small banks across India: Report
Aug 01, 2024, at 07:37 pm
New Delhi/IBNS: A ransomware attack on an Indian technology service provider has forced payment systems across nearly 300 small local banks in the country to shut down temporarily, Reuters reported, citing two sources directly aware of the matter.
Infosys shares drop 1% after IT major slapped with Rs 32,403 crore GST notice for overseas expenses
Aug 01, 2024, at 06:41 pm
Bengaluru/IBNS: Shares of Indian multinational information technology company Infosys dropped 1 percent to the day's low of Rs 1,845.40 on BSE on Thursday (Aug 1) after the IT major was slapped with a RS 32,403 crore Goods and Services Tax (GST) notice by the Directorate General of GST Intelligence over overseas expenses, reports said.
Stock market: Nifty crosses 25,000 for first time, Sensex at all-time high
Aug 01, 2024, at 05:45 pm
Mumbai/IBNS: Indian stock markets opened at a record high on Thursday (Aug 1), with benchmark indices Nifty starting at 25,030.95 after gaining 92.15 points, or 0.37 percent, and BSE Sensex surged to a record high of 82,082 after opening at 81,949.68 points, with a gain of 208.34 points, or 0.25 percent, from the previous close.
Adani Enterprises set to launch first-ever public bond issue: Report
Aug 01, 2024, at 04:25 am
Mumbai: Adani Enterprises, the flagship company of the Adani Group, is set to launch its first-ever public bond issue in the coming weeks, aiming to raise up to Rs 600 crore ($71.7 million), Reuters reported, citing two sources familiar with the development.
Tata Steel Q1FY25 net profit rises 51.4% YoY to Rs 959.61 cr
Aug 01, 2024, at 04:20 am
Mumbai: Tata Steel announced a 51.4 percent year-on-year increase in consolidated net profit to Rs 959.61 crore for the first quarter ended June 2025 (Q1 FY25) on the back of the company's operations in the Netherlands returning to normal levels.
Sajjan Jindal-led JSW Cement considering promoter stake purchase in Orient Cement
Aug 01, 2024, at 04:15 am
Mumbai: Sajjan Jindal-led JSW Cement has launched a bid to acquire the promoter stake in Orient Cement Ltd (OCL) from CK Birla, according to a report by The Economic Times.
Coal India Q1FY25: Net profit grows 4% YoY to Rs 10,959 cr; raw coal prodn rises 189.3 MT
Aug 01, 2024, at 02:51 am
Kolkata: National miner Coal India Limited (CIL) reported a 4.1 percent year-on-year increase in consolidated net profits for the first quarter (April-June) of the financial year 2024-25 (FY25), amounting to Rs 10,959 crore, media reports said.
India's 8 core sectors grow lowest in 20 months
Aug 01, 2024, at 01:42 am
New Delhi: The growth in the production of eight key infrastructure sectors in India slowed to a 20-month low of 4 percent in June, according to official data released on Wednesday.
Bank of Baroda Q1FY25: Profit grows 9.5% YoY to Rs 4,458 cr; NII Rs 11,600 cr
Jul 31, 2024, at 11:05 pm
Mumbai: State run lender Bank of Baroda (BOB) on Wednesday reported a standalone net profit of Rs 4,458 crore for the first quarter of the fiscal year 2025 (Q1FY25), up 9.5% from Rs 4,070 crore in the same period last year (Q1FY24).
Gautam Adani-led Adani Group planning investment Vietnam's airports
Jul 31, 2024, at 11:01 pm
Hanoi: Gautam Adani-led Adani Group is exploring investments in two airports in Vietnam, Reuters reported, citing a statement by the Vietnamese government on Wednesday.
Tata Group cancels stake acquisition in Chinese phone maker Vivo India as Apple objects deal: Report
Jul 31, 2024, at 10:35 pm
Mumbai: The Tata Group's attempt to acquire a majority stake in Vivo's India business has faced challenges due to objections from Apple, according to a Times of India report.
Intel planning to cut thousands of jobs in cost-saving move: Report
Jul 31, 2024, at 10:02 pm
California/IBNS: American tech major Intel Corporation is likely to announce layoffs for thousands of employees as early as this week, Bloomberg reported, citing sources in the know.
Byju's reaches settlement with BCCI, Riju Raveendran to pay the dues: Report
Jul 31, 2024, at 09:54 pm
Bengaluru: Byju's founder, Byju Raveendran, and the Board of Control for Cricket in India (BCCI) have settled their dispute over outstanding payments, media reports said.
Govt likely to raise STCG tax above 20% in future, says official
Jul 31, 2024, at 08:26 pm
New Delhi/IBNS: The government is likely to consider further raising the short-term capital gain (STCG) tax rates in the coming years, Moneycontrol reported quoting a senior government official.
Jul 31, 2024, at 07:22 pm
New Delhi/IBNS: In the wake of WazirX’s $230-million security breach, India's crypto and web 3 industry body Bharat Web3 Association (BWA) is creating two new internal groups focused on cybersecurity and consumer issues, MoneyControl reported quoting BWA chairman Dilip Chenoy.
Jul 31, 2024, at 05:58 pm
New Delhi/IBNS: Nitin Gadkari, the Union road, transport and highways minister, has written to finance minister Nirmala Sitharaman, seeking withdrawal of the 18 percent Goods and Services Tax (GST) on life and medical insurance premiums, reports MoneyControl.
Adani Energy Solutions raises $1 bn via QIP issue, first since Hindenburg row
Jul 31, 2024, at 05:21 pm
Mumbai/IBNS: Marking a market return, Adani Group's power transmission unit Adani Energy Solutions Ltd on Tuesday (July 30) raised $1 billion through a share sale, reports said.
Jupiter Wagons Ltd Q1FY25: PAT grows 40% YoY to Rs 8,923 lakh
Jul 31, 2024, at 05:34 am
Kolkata: Jupiter Wagons Ltd reported a profit after tax (PAT) of Rs 8,923 lakh, representing a 40.3% year-on-year increase, with a PAT margin of 9.9%.
Akums Drugs IPO fully subscribed on first day, driven by retail and NII; check GMP
Jul 31, 2024, at 05:17 am
Mumbai: The retail portion of Akums Drugs and Pharmaceuticals Ltd's initial public offering (IPO) was fully subscribed within an hour of opening, media reports said.
Jindal Stainless Q1FY25 profit falls 12% to Rs 646.07 cr
Jul 31, 2024, at 04:27 am
Mumbai: Jindal Stainless Ltd (JSL) on Tuesday posted a 12 percent fall in consolidated net profit to Rs 646.07 crore during June quarter, mainly on account of lower income. It had clocked Rs 737.58 crore net profit in the year-ago period, media reported, citing an exchange filing.
Vedanta gets approval of its 75% secured creditors for demerger
Jul 31, 2024, at 04:20 am
Mumbai: Mining conglomerate Vedanta announced that 75 percent of its secured creditors have approved its proposed demerger of businesses, a major milestone in the company's strategy to separate into six independent listed entities.
SEBI proposes to expand the definition of 'connected persons' in insider trading
Jul 31, 2024, at 03:31 am
Mumbai: Capital markets regulator Securities and Exchange Board of India (SEBI) has issued a consultation paper proposing to expand the scope of insider trading regulations to include more individuals, even those who may have unofficial connections with company officials who possess price-sensitive information, media reports said.
Punjab & Sind Bank Q1FY25 profit grows 19% to Rs 182 cr
Jul 31, 2024, at 02:28 am
New Delhi: Punjab & Sind Bank reported net profit of Rs 182 crore, up 18.95% YoY.
GAIL Q1FY25: Net profit rises 78% to Rs 3,183 cr
Jul 31, 2024, at 01:49 am
Mumbai: State-run GAIL reported a consolidated net profit of Rs 3,183 crore for the quarter ending June 2024, up 78% from the Rs 1,793 crore recorded in the same quarter the previous year, media reports said.
BCCI in settlement talks with Byju Raveendran over outstanding payments
Jul 30, 2024, at 11:02 pm
Bengaluru: The Board of Control for Cricket in India (BCCI) informed the National Company Law Appellate Tribunal (NCLAT) on Tuesday that it is engaged in preliminary settlement discussions with Byju Raveendran to resolve a dispute with Think and Learn Private Limited, a Moneycontrol report said.
30% of GenAI projects will be abandoned after proof of concept by end of 2025, predicts Gartner
Jul 30, 2024, at 10:59 pm
Sydney/IBNS: At least 30 percent of generative AI (GenAI) projects will be abandoned after proof of concept by the end of 2025, due to poor data quality, inadequate risk controls, escalating costs or unclear business value, according to American technological research and consulting firm Gartner.
Indian Oil Corp Q1FY25 profit declines 81% YoY to Rs 2,643 cr
Jul 30, 2024, at 10:51 pm
Mumbai: Indian Oil Corp reported an 81% decline in its standalone net profit for the first quarter, amounting to Rs 2,643 crore, compared to Rs 13,750 crore in the same quarter last year.
Apple to make iPhone 'Pro' models in India for the first time
Jul 30, 2024, at 10:43 pm
New Delhi/IBNS: American tech giant Apple is all set to expand its manufacturing footprint in India by making high-end iPhone "Pro" models in the country for the first time, reports MoneyControl.