Amazon injects Rs 1,660 cr into its Indian marketplace unit
May 14, 2024, at 10:36 pm
Mumbai: Amazon Seller Services' US parent company has injected a new equity investment of Rs 1,660 crore ($199 million) into the firm that operates Amazon's marketplace in India, according to a regulatory filing.
India’s ambitions can foster complementarity with China, reports Global Times
May 14, 2024, at 07:11 pm
New Delhi/IBNS: There has been no shortage of pessimism regarding economic and trade relations between India and China, as Chinese companies are bearing the brunt of the most severe crackdown due to New Delhi's "tendency to generalize security issues in its China trade policy", though the latest data may indicate a different trend, serving as a reminder not to overlook the complementary strengths of both economies, according to a report by the Chinese Communist Party (CCP)-owned Global Times.
India's retail inflation eases to 11-month low of 4.83% in April
May 14, 2024, at 05:39 pm
Mumbai/IBNS: India's retail inflation slightly eased to an 11-month low of 4.83 percent in April, compared to 4.85 percent recorded in the previous month, as prices of some kitchen items dropped though overall food basket firmed up marginally, according to a government data released on Monday (May 13).
State Bank of India is now the first bank to become Trading cum Clearing (TCM) Member of IIBX
May 13, 2024, at 11:30 pm
The country’s largest commercial bank, State Bank of India (SBI) has announced that it has secured the distinction of being the first bank to become a Trading cum Clearing (TCM) Member at India International Bullion Exchange.
China surpasses US to become India's largest trading partner in FY24: Reports
May 13, 2024, at 09:56 pm
New Delhi/IBNS: Replacing the United States, China has become the largest trading partner of India for the fiscal year 2023-24, reports said.
TVS Motor Company introduces new variants to the TVS iQube portfolio, check out the price
May 13, 2024, at 09:48 pm
Automobile manufacturer TVS Motor Company on Monday launched a new variant of the TVS iQube with 2.2 kWh battery.
Sufficient measures in place to meet peak power demand in May, June: Govt
May 13, 2024, at 05:37 am
New Delhi: The government has implemented sufficient measures to address the projected peak power demand of 235 GW in May and 240 GW in June, an official statement said.
India's defence sector holds prospect of USD 138 billion from FY24 to FY32
May 13, 2024, at 05:30 am
New Delhi: Amid increasing demand for defence equipment, technologies, and services, India's defence sector holds a substantial ordering prospect of nearly USD 138 billion from FY24 to FY32 for companies involved in defence production and technology advancement, according to a report titled 'India Defence' by Nomura.
L&T to exit Hyderabad Metro project as Cong govt's free bus ride scheme hits passenger volume
May 13, 2024, at 02:26 am
Hyderabad: Infrastructure and engineering firm L&T is mulling offloading its stake in the Hyderabad Metro project after 2026, citing the free bus rides offered by the Congress government, media reports said.
Tata Motors expects slow start to FY25 PV sales amid elections
May 12, 2024, at 09:57 pm
Mumbai: Auto giant Tata Motors has said it expects a slow FY25 beginning due to a drop in probable local passenger vehicle (PV) demand during the ongoing Lok Sabha elections, media reports said.
Jio launches new premium OTT broadband plan at ₹888 with Netflix, Amazon Prime, and JioCinema
May 11, 2024, at 06:51 pm
Mumbai/IBNS: Aiming at avid steamers, Reliance Jio has unveiled a new Rs 888 monthly plan offering unlimited data and access to 15 major over-the-top (OTT) platforms, including Netflix basic subscription.
India’s industrial production slows slightly in March 2024 to 4.9%
May 11, 2024, at 05:18 am
New Delhi: India’s industrial production growth in March slowed slightly, reaching 4.9 percent month-on-month, according to official data.
Kalyan Jewellers records FY24 revenue of Rs 18,548 Cr; PAT grows by 38%
May 11, 2024, at 05:06 am
Kolkata: Kalyan Jewellers India Limited recorded a consolidated revenue of Rs 18,548 crore in FY24 as against Rs 14,071 crore in the previous year, a growth of 32%. Consolidated PAT for FY24 was Rs 596 crore.
Google CEO Sundar Pichai updates employees on layoffs
May 11, 2024, at 05:00 am
Google CEO Sundar Pichai has said that the majority of the layoffs in the company would happen in the first six months of 2024, during an all-hands meeting, media reported.
Tata Motors Q4FY24 net profit shoots 222% to Rs 17,407.18 cr
May 11, 2024, at 02:25 am
Mumbai: Leading auto manufacturer Tata Motors on Friday reported a consolidated net profit of Rs 17,407.18 crore in the final quarter of the financial year 2023-24 (FY24), a massive 222 percent YoY growth.
India to again delay caps on UPI payments market share, reports Reuters
May 10, 2024, at 11:38 pm
Mumbai/IBNS: India will again delay caps on market share for a popular digital payments method, benefiting Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration, Reuters reported quoting its sources.
May 10, 2024, at 10:39 pm
Mumbai: Domestic benchmark indices opened higher on Friday, buoyed by strong global cues.
Cipla Q4FY24: Net profit grows 79% YoY to Rs 939 cr
May 10, 2024, at 10:21 pm
Mumbai: Pharma giant Cipla’s consolidated net profit grew 79% rising to Rs 939.04 crore in Q4 FY24 over Q4 FY23.
Bank of Baroda Q4FY24 net profit up 2.3% YoY to Rs 4,886.49 cr; NII up 2.3% to Rs 11,793 cr
May 10, 2024, at 09:47 pm
Mumbai: State-run lender Bank of Baroda on Friday said its standalone net profit reached Rs 4,886.49 crore in Q4FY24, up 2.3% compared to Rs 4,775.33 crore in the year-ago period.
JPMorgan says India index inclusion on track, most clients ready: Bloomberg report
May 10, 2024, at 06:34 pm
Mumbai/IBNS: JPMorgan Chase & Co. is on track to include India in its emerging market debt index from June with most of its clients ready to trade, Bloomberg reported quoting Gloria Kim, the firm’s global head of index research.
Punjab National Bank Q4FY24 PAT soars 160% YoY to Rs 3,010 cr; NII grows 9% YoY to Rs 10,363 cr
May 10, 2024, at 06:09 am
New Delhi: Public sector lender Punjab National Bank (PNB) Thursday reported an impressive growth in net profit at 159.8% YoY to Rs 3,010.27 crore in Q4FY24 compared to Rs 1,159 crore in the corresponding period last year.
May 10, 2024, at 05:29 am
Kolkata: Bridgestone India Wednesday announced the launch of its new marketing campaign, “Trailblazing with Dueler A/T,” for the latest addition to its tyre lineup, the Bridgestone Dueler Tyre.
Tesla continues to cut jobs in China as part of its global workforce reduction: Report
May 10, 2024, at 05:22 am
Beijing: Tesla has increased job cuts in China as billionaire Elon Musk struggles to recover lost market share in the world’s biggest auto market, reported Bloomberg.
May 10, 2024, at 04:58 am
New Delhi: India’s Technical Textiles market has a huge potential backed by a significant growth rate of 10% and placement as the 5th largest technical textiles market in the world, said Rachna Shah, Secretary, Ministry of Textiles while addressing a symposium on Thursday.
Bharat Petroleum reports highest ever net profit in FY24 at Rs. 26,673.50 cr
May 10, 2024, at 03:51 am
Mumbai: Bharat Petroleum posted the highest ever standalone net profit of Rs. 26,673.50 crores in FY24 as compared to the profit of Rs 1,870.10 crores in FY 22-23.
NPCI may defer market cap restriction for UPI platforms for 2 yrs: Report
May 10, 2024, at 03:36 am
New Delhi: The National Payments Corporation of India (NPCI), responsible for managing the Unified Payments Interface (UPI), is likely to limit market share for digital payment platforms two years later, according to Reuters.
SBI Q4FY24: PAT grows 24% YoY to Rs 20,698 cr; NII grows 19% to Rs 1.11 lakh cr
May 10, 2024, at 03:27 am
Mumbai: India’s largest lest lender State Bank of India (SBI) on Thursday reported net profit of Rs 20,698 crore, marking a 24 percent year-on-year increase for the fourth quarter of FY 24.
May 09, 2024, at 08:40 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) has allowed Bank of Baroda (BOB) to onboard customers via its 'BOB World' mobile application, following which shares of the public sector bank surged 3.4 percent to Rs 271 per share on Thursday (May 9).
Bridgestone India unveils Dueler All-Terrain 002 tyre
May 09, 2024, at 08:57 am
Kolkata: Bridgestone India has launched the Dueler All-Terrain (A/T) 002 tyre with enhance grip and stability.
China's gold-buying spree triggers global price surge
May 09, 2024, at 05:27 am
Gold's value has historically surged during geopolitical and economic upheavals, and recent events like Russia's invasion of Ukraine and the conflict in Gaza have further boosted its price.