BSE Sensex tanks over 930 points today
The BSE Sensex crashed 930.55 to close at 80,220.72 points with heavy selling seen across the board along with weak global cues.
Finance
Adani Group's Ambuja Cements to acquire 47% stake in Orient Cement for Rs 8,100 crore
Ahmedabad/IBNS: Ambuja Cements, a subsidiary of the Adani Group, announced on Tuesday (Oct. 22) the signing of a binding agreement to acquire Orient Cement Ltd (OCL) for Rs 8,100 crore.
Hyundai Motor India shares list at 1.32% over IPO price at Rs 1,934 on NSE
Mumbai/IBNS: Hyundai Motor India shares had a subdued debut on Tuesday (Oct. 22), listing at a 1.32 percent discount at Rs 1,934 on the NSE, compared to its IPO price of Rs 1,960.
Invested Rs. 10,000 Monthly? This Mutual Fund Grew It to Rs. 5.41 Lakh in Just 3 Years!
Investing in mutual funds has long been considered a reliable way to grow wealth, especially through the power of compounding and disciplined investment. For those who have been investing Rs. 10,000 monthly in a mutual fund investment, the returns can be quite substantial over time. One example that stands out is the SBI Magnum Benefit Fund Investment Plan, which has shown remarkable growth, turning regular monthly investments into significant returns in just three years. In this article, we'll explore how this fund performed, how mutual fund investments work, and why consistent investing can yield substantial gains.
Foreign institutional investors shift focus to IPOs, sell nearly $10 billion in secondary markets
New Delhi/IBNS: Foreign institutional investors (FIIs) have offloaded nearly $10 billion worth of shares in the secondary markets in October, despite maintaining investment activity in the primary market amid a surge of IPOs.
MCX Gold rate nears record high of Rs 80,000/10 gm mark, silver prices at fresh peak
Mumbai/IBNS: Gold and silver prices surged to new record highs in the domestic futures market on Monday (Oct. 21) morning, buoyed by strong spot demand and favourable global trends.
Microsoft-OpenAI 'bromance' frays as tensions rise over funding, staff clashes, and new AI deals
San Francisco: Sam Altman, co-founder of OpenAI, once described the company's partnership with Microsoft as “the best bromance in tech.” However, this relationship is now strained, as Microsoft appears to be hedging its bets, according to a report by the New York Times.
Group of Ministers on GST rationalisation proposes lowering tax rates on bicycles, packaged drinking water bottles, notebooks to 5%
New Delhi: The Group of Ministers (GoM) on GST rate rationalisation has decided to reduce tax rates on 20-litre packaged drinking water bottles, bicycles, and exercise notebooks to 5 percent, while proposing an increase in taxes on high-end wristwatches and shoes, media reports said.
Group of Ministers on GST rationalisation proposes lowering tax rates on bicycles, packaged drinking water bottles, notebooks to 20%
New Delhi: The Group of Ministers (GoM) on GST rate rationalisation has decided to reduce tax rates on 20-litre packaged drinking water bottles, bicycles, and exercise notebooks to 5 percent, while proposing an increase in taxes on high-end wristwatches and shoes, media reports said.
GNCAP, BNCAP ratings: Safest cars to buy this Diwali
Buying a new car during the festive season is a popular trend in India, with many people looking to fulfill their aspirations of owning a new vehicle.
Google search and advertising chief Prabhakar Raghavan steps down as regulatory pressure mounts
California/IBNS: Google has announced a significant leadership restructuring within the company.
India's economic activity maintains dynamism but at a moderated pace in Q2 of 2024-25: NCAER-NSE survey
New Delhi/IBNS: Economic activity in India continues to be on its dynamic and positive path, albeit at a moderated pace.
Kotak Mahindra Bank to acquire Rs 4,100 cr Standard Chartered Bank India's personal loan book
Mumbai: Kotak Mahindra Bank Limited has announced its acquisition of Standard Chartered Bank India's personal loan portfolio, valued at approximately Rs 4,100 crore as of September 30, 2024.
JSW Steel to buy 100% stake in Thyssenkrupp Electrical Steel India in a JV with Japan's JFE Steel Corp
Mumbai: JSW Steel on Friday said it will acquire a 100% stake in Thyssenkrupp Electrical Steel India jointly with Japan's JFE Steel Corp for Rs 4,051.4 crore.
Zee Entertainment Enterprises Q2FY25 net profit soars 70% to Rs 209 cr
Mumbai: Zee Entertainment Enterprises (ZEEL) reported a net profit of Rs 209.4 crore for the second quarter of FY25, marking a 70.2% year-on-year (Y-o-Y) increase, driven by cost-cutting measures, media reports said.
Tata Consumer Products Q2FY25 net profit at Rs 359 cr
Mumbai: Tata Consumer Products Ltd reported a flat net profit of Rs 359 crore for the September quarter, media reports said.
Jio Financial Q2FY25 net profit rises 3% YoY to Rs 689 cr
Mumbai: Jio Financial Services Ltd, which was spun off from Reliance Industries Ltd and listed on the stock exchanges last year, reported a year-on-year 3% increase in net profit to Rs 689 crore for the quarter ending September 30, according to media reports.
Ather Energy introduces care service plans for customers
EV major Ather Energy introduced the Ather Care service plans for its customers.
India's growth rate among shiniest in global economy: World Bank president Ajay Banga
Washington/IBNS: India's economic growth stands out as a bright spot in the global economy, according to World Bank President Ajay Banga, who highlighted that much of this progress is fueled by the domestic market.
After barring Navi and others, RBI may act against more NBFCs to check obscure lending practices: Morgan Stanley
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday (Oct. 17) took action against four Non-Banking Financial Companies (NBFCs), instructing them to cease new loan sanctions and disbursements, while a Morgan Stanley report suggests that more companies in the lending sector could face similar scrutiny.
Byju Raveendran says his edtech startup Byju's, once worth $22 billion, is now 'worth zero'
Bengaluru/IBNS: Byju Raveendran, founder of the troubled edtech company Byju’s, admitted on Thursday that he had made several mistakes, including misjudging market conditions and overestimating the company's growth potential.
Zomato's upcoming fund raise plan worth Rs 8,500 crore likely to get board nod: Report
New Delhi/IBNS: Leading Indian multinational restaurant aggregator and food delivery company Zomato is expected to approve a fund raise of Rs 8,500 crore, CNBC-TV18 reported citing insider sources.
Mazagon Dock shares surge over 8.5% as board mulls stock split
Mumbai/IBNS: Shares of Mazagon Dock Shipbuilders, a major public-sector shipyard under India's Ministry of Defence (MoD), saw a significant rise of nearly 8.7 percent, reaching Rs 4,608 per share on Friday (Oct. 18).
India's growth rate among shiniest In global economy: World Bank president Ajay Banga
Washington/IBNS: India's economic growth stands out as a bright spot in the global economy, according to World Bank President Ajay Banga, who highlighted that much of this progress is fueled by the domestic market.
Wipro Q2FY25: Net profit jumps 21% YoY to Rs 3,209 cr
Mumbai: Wipro Ltd announced a 21% rise in net profit for the September quarter, reaching Rs 3,209 crore compared to Rs 2,646 crore in the same period last year, media reports said.
Infosys Q2FY25 net profit rises 4.7% YoY Rs 6,606 cr
Mumbai: Infosys, India’s second-largest software exporter, reported a 4.7% year-on-year (YoY) increase in net profit to Rs 6,506 crore for Q2FY25, although this fell short of estimates, media reports said.
Vishal Mega Mart files DRPH to raise Rs 8,000 cr via IPO
Mumbai: Gurugram-based Vishal Mega Mart has filed a draft red herring prospectus (DRHP) with SEBI to raise Rs 8,000 crore through an initial public offering (IPO), media reports said.
'Canada benefits from trade with India; Trudeau govt's baseless allegations cause of crisis': MEA spokesperson
New Delhi: Canada is a major beneficiary of the India-Canada economic ties, Ministry of External Affairs spokesperson Randhir Jaiswal said on Thursday, asserting that the current crisis in the relations have been precipitated by the Justin Trudeau government’s baseless allegations.
Zepto in talks to raise up to $150 million from Motilal Oswal, others in third funding round in four months: Report
Bengaluru/IBNS: Quick commerce startup Zepto is reportedly in discussions to raise $100-150 million from Motilal Oswal, Indian family offices, and high net worth individuals (HNIs), Moneycontrol reported, citing its sources.
Facebook parent Meta confirms layoffs at WhatsApp, Instagram
California/IBNS: After laying off 11,000 employees in 2022 and another 10,000 in 2023, Meta is conducting another round of job cuts, though this time on a much smaller scale, reports the Verge.