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.
Piyush Goyal rules out change in govt's stance on Chinese FDI
Jul 30, 2024, at 10:33 pm
New Delhi: Commerce Minister Piyush Goyal stated Tuesday that the Indian government is not reconsidering its position on foreign direct investment (FDI) from China, indicating that the country may continue to impose stricter scrutiny on investments from Beijing, media reports said.
Jul 30, 2024, at 08:34 pm
New Delhi/IBNS: Indian crypto exchange platform WazirX has been facing heat from the industry as well as customers for its "Withdrawal Management Programme: Opinion Poll" in the aftermath of the $230 million hack, 45 percent of its user funds, it suffered earlier in July, reports CoinDesk.
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.