Govt to not go easy on Infosys over Rs 32,000 cr GST demand
Aug 07, 2024, at 06:15 am
New Delhi: The government is not considering any relaxation of the tax demand sent to Infosys last month, Reuters reported, citing a government source.
Amazon India head Manish Tiwary resigns
Aug 07, 2024, at 05:35 am
New Delhi: Amazon.com India's country head Manish Tiwary has resigned after working with the e-commerce giant for eight years, the company said on Tuesday.
Ola Electric IPO subscribed over 4 times on last day
Aug 07, 2024, at 04:37 am
Mumbai: Ola Electric Mobility's Initial Public Offering (IPO), valued at Rs 6,145.56 crore, was subscribed 4.26 times on its final day, falling short of market expectations, media reports said.
WazirX files FIR in cyberattack incident that wiped out 45% of its crypto assets
Aug 07, 2024, at 02:54 am
Mumbai: Crypto exchange WazirX said Tuesday that following its previous police complaint regarding the $230-million cyberattack last month, a first information report (FIR) was filed at PS Special Cell, PS Lodhi Colony in New Delhi.
Political upheaval in Bangladesh raises concerns over Adani Power's transnational supply project
Aug 06, 2024, at 11:17 pm
New Delhi: The political upheaval in Bangladesh, which resulted in the ouster of Prime Minister Sheikh Hasina on August 5, may impact India's first transnational power supply project operated by billionaire Gautam Adani's Adani Power Ltd, according to media reports.
Vedanta Ltd Q1FY25: Consolidated net profit 36.5% to Rs 3,606 cr
Aug 06, 2024, at 11:04 pm
Mumbai: Billionaire Anil Agarwal's Vedanta Ltd announced on Tuesday that its consolidated net profit for the quarter ending June 30, 2024, surged by 36.5 percent to Rs 3,606 crore, compared to Rs 2,640 crore in the same period the previous year.
Indian space tech startup EtherealX raises $5M, will make fully reusable launch vehicles
Aug 06, 2024, at 08:45 pm
Bengaluru/IBNS: Indian space tech startup EtherealX, which is focussing on making reusable rockets, raised $5 million in a seed-funding round, which was led by 'Pre-Series A' fund YourNest Venture Capital and also saw participation from BIG Global investments JSC, BlueHill Capital and others.
Japanese stocks jumps 10% after Monday's record fall
Aug 06, 2024, at 07:12 pm
Tokyo/IBNS: The Japanese stocks surged more than 10 percent on Tuesday (Aug 6), bouncing back from a record selloff on Monday (Aug 5) on worries over the US economy and a stronger yen, reports said.
US stock market crash: Dow Jones drops over 1,000 points, S&P 500 sheds 3% in worst day since 2022
Aug 06, 2024, at 07:08 pm
New York/IBNS: The Wall Street on Monday (Aug 5) continued the sell-off in global equities owing to a multitude of factors.
Passenger vehicle sales rise 10% in July to 320,129 units on new launches, discounts: FADA
Aug 06, 2024, at 07:03 pm
New Delhi/IBNS: India's passenger vehicle sales recorded a 10 percent on-year surge in July driven by new model launches and enhanced discounts, according to Federation of Automobile Dealers Associations (FADA), the apex national body of Automobile Retail Industry in the country engaged in the sale, service and spares of two and three Wheelers, passenger cars, utility vehicles (UVs), commercial vehicles and tractors.
Indian rupee slips to all-time low on outflow worries
Aug 05, 2024, at 08:22 pm
Mumbai/IBNS: Indian rupee opened at a record low against the US dollar on Monday, on worries that the risk off prompted by US recession worries could lead to foreign outflows, reports said.
Aug 05, 2024, at 07:18 pm
Ahmedabad/IBNS: Gautam Adani, the chairman of Indian multinational conglomerate Adani Group, said he is planning to step down as the group's chairman at the age of 70.
Stock market crashes amid weak global cues: Here're some major factors that dampen sentiment
Aug 05, 2024, at 06:59 pm
Mumbai/IBNS: Indian stock markets crashed in early hours on Monday (Aug 5) as benchmark indices Sensex and Nifty were off to a weak start on the bourses, extending losses for a second session in a row after weak global cues, growing tensions between Iran and Israel in the Middle East, weak US jobs data, and recessionary fears dented sentiment across sectors.
Indian market tumbles, Sensex trading 1500 points below
Aug 05, 2024, at 03:27 pm
The Indian market witnessed one of the major crashes on Monday with Sensex and Nifty marking a significant drop during early trade.
National Handloom Development Corp holds expo at Delhi's Janpath to mark 10th National Handloom Day
Aug 05, 2024, at 01:27 am
New Delhi: A fortnight long exhibition dedicated to celebrating 10th National Handloom Day began at Handloom Haat in Janpath on Saturday.
Tata begins construction of India's first chip plant in Assam for Rs 27,000 cr
Aug 05, 2024, at 12:48 am
Guwahati: The construction of Tata’s semiconductor unit in Assam's Jagiroad started on Saturday as part of the government's attempt to create an end-to-end semiconductor manufacturing ecosystem in India, the Ministry of Information Technology said in a press release.
UPI transactions cross Rs 20 trillion for third straight month in July 2024
Aug 03, 2024, at 10:49 pm
New Delhi/IBNS: The Unified Payments Interface (UPI) transaction values surpassed Rs 20 trillion for the third successive month in July 2024, according to data released by the National Payments Corporation of India (NPCI) — a state-owned organization that operates retail payments and settlement systems in the country — on Thursday (Aug 1).
Ford to consider proposal for India re-entry as western markets face speed bumps: Report
Aug 03, 2024, at 10:29 pm
New Delhi/IBNS: American multinational automobile giant Ford, which exited India in 2021 over losses and poor sales, could re-enter the Indian market with a global team including CEO Jim Farley as it is set to consider a fresh proposal with a new strategy for the market, reports the Times of India (TOI).
PM Modi inaugurates 32nd International Conference of Agricultural Economists
Aug 03, 2024, at 06:26 pm
New Delhi/IBNS: Prime Minister Narendra Modi inaugurated the 32nd International Conference of Agricultural Economists (ICAE) at National Agricultural Science Centre (NASC) Complex in New Delhi on Saturday.
India’s seafood exports increase 31% to Rs 61043.68 cr
Aug 03, 2024, at 06:57 am
New Delhi: India’s seafood exports have increased from Rs 46,662.85 crore in 2019-20 to Rs. 61043.68 Crore in 2023-24 registering a growth of 30.81%, Minister of State for Commerce and Industry Jitin Prasada informed Rajya Sabha on Friday.
Coal sector grows by 14.8% in June; highest in 8 core sectors
Aug 03, 2024, at 06:35 am
New Delhi: The coal sector showed the highest growth of 14.8% among the eight core industries in June 2024, according to the Index of Eight Core Industries (ICI) with a base year of 2011-12, released by the Ministry of Commerce & Industries.
UDAN round 5.3 reopens bidding for routes discontinued before 3-yr tenure
Aug 03, 2024, at 06:29 am
New Delhi: Air routes that were discontinued before the three-year tenure have been re-offered for bidding under UDAN Round 5.3, Minister of State for Civil Aviation Murlidhar Mohol informed Lok Sabha on Thursday.
Govt permits 100% FDI via automatic route for aircraft maintenance, repair and overhaul
Aug 03, 2024, at 05:47 am
New Delhi: In a major boost to the domestic MRO industry and to the aviation sector, the Centre has announced a uniform rate of 5% IGST on imports of parts components, testing equipment, tools and tool-kits of aircraft, irrespective of their HSN classification subject to specified conditions.
Dept of Pharma implementing PLI Scheme for Pharma at cost of Rs 15,000 cr
Aug 03, 2024, at 05:27 am
New Delhi: The Department of Pharmaceuticals is implementing the Production Linked Incentive (PLI) Scheme for Pharmaceuticals with a total financial outlay of Rs. 15,000 crore and scheme tenure up to FY 2027-28, Ministry of Chemicals and Fertilizers informed Lok Sabha on Friday.
Centre approves 8 national high-speed road corridor projects of length 936 km for Rs 50,655 cr
Aug 03, 2024, at 05:03 am
New Delhi: The Cabinet Committee on Economic Affairs approved eight national high-speed road corridor projects on Friday, spanning a total length of 936 km across the country, with an investment of Rs 50,655 crore, Union Minister Ashwini Vaishnaw said in a press briefing.
Britannia's FY25 June qtr consolidated profit grows to Rs 506 cr
Aug 03, 2024, at 04:32 am
Mumbai: Britannia Industries reported quarterly earnings below market expectations on Friday, as branded consumer goods makers face stiff competition from smaller rivals offering cheaper alternatives, Reuters reported.
Aug 03, 2024, at 04:27 am
Bengaluru: The National Company Law Appellate Tribunal (NCLAT) approved the settlement reached between Byju Raveendran and the Board of Control for Cricket in India (BCCI), exempting Byju's parent company, Think and Learn, from the insolvency resolution process.
Hindustan Zinc Q1FY25: Profit soars 19% to Rs 2,345 cr
Aug 03, 2024, at 02:55 am
Udaipur: Hindustan Zinc on Friday said its consolidated net profit for June quarter rose 19 percent to Rs 2,345 crore as against Rs 1,964 crore in Q1FY24.
Zomato Q1FY25 net profit grows multifold to Rs 253 cr; share prices soar
Aug 03, 2024, at 01:21 am
Mumbai: Zomato's net profit soared 126.5 times to reach Rs 253 crore in the April-June quarter (Q1) compared to the same period last year, media reports said.
Record 7.28 crore ITRs filed till July 31 for AY 2024-25, 72 percent opt for New Tax Regime
Aug 02, 2024, at 11:31 pm
The Income Tax department on Friday said a record Rs. 7.28 crore has been filed till July 31 which is 7.5% more than the total ITRs for AY 2023-24 (6.77 crore) filed till 31st July, 2023.