Domestic indices open positively on global strength, Nifty sees profit booking, Bank Nifty respecting bullish momentum
Mumbai: The domestic benchmark indices opened positively on Wednesday, driven by strong global cues.
Finance
India's palm oil imports jump 34% in Apr to 684,000 tonnes: Report
New Delhi: India saw a significant increase of 34.11% in palm oil imports in April, reaching 684,000 tonnes, according to the Solvent Extractors' Association of India (SEA).
State Bank of India raises fixed deposit rates for retail and bulk deposits
Mumbai: The State Bank of India (SBI) has hiked rates of its fixed deposit interest for specific tenures on retail deposits, up to Rs 2 crore, and bulk deposits, above Rs 2 crore.
Blackstone, Abu Dhabi Investment Authority (ADIA) and Singapore's GIC submit bid to acquire Haldiram Snacks Food: Report
Mumbai: A consortium led by Blackstone, the Abu Dhabi Investment Authority (ADIA) and Singapore's GIC has submitted a non-binding bid to acquire a controlling stake in Haldiram Snacks Food Pvt Ltd (HSFPL), one of India's largest snack and convenience foods companies, reported the Economic Times.
Rulka Electricals Limited IPO opens May 16; price band fixed at Rs 223-235
Mumbai: Integrated electrical services company Rulka Electricals Ltd will launch its initial public offering (IPO) will open on Thursday, May 16, 2024.
Patanjali Foods Q4FY24 profit drops 22% to Rs 206 cr due to weak demand
Mumbai: Patanjali Foods, co-founded by Yoga guru Baba Ramdev and Acharya Balkrishna, reported a 22% drop in fourth-quarter profit on Tuesday, mainly due to weak demand that hurt overall sales in its core edible oils business and rising expenses.
CBI arrests DHFL Director Dheeraj Wadhawan in Rs 34,000 cr bank fraud case
Mumbai: The CBI has arrested former DHFL Director Dheeraj Wadhawan for allegedly defrauding a 17-member bank consortium of Rs 34,000 crore, media reported, citing officials.
AJAX Engineering becomes first Indian concreting equipment manufacturer to export Slip-form Paver
Kolkata: AJAX Engineering, India's premier concreting equipment manufacturer, becomes the country’s first manufacturer to export Slip-form Pavers, a specialised heavy concrete equipment utilised primarily in large scale infrastructure projects for the efficient and precise laying of concrete.
Pakistan readies to privatise all state-run companies, except strategic ones: Reports
Islamabad: Debt-ridden Pakistan has decided to privatise all state-run enterprises, except strategic ones, broadening its earlier decision to offload stakes only in loss-making companies, media reports said.
Zomato reports Rs 175 cr net profit in FQ4FY24, ESOP cost doubles YoY
Mumbai: Zomato, which reported a net profit of Rs 175 crore for the January-March period (Q4FY24) on Tuesday, marked a significant turnaround from the net loss of Rs 188 crore in the same quarter the previous year.
Jaishankar urges businesses to partner with govt to revive manufacturing for USD 30 trillion economy by 2047
Kolkata: Emphasising the goal of 'Viksit Bharat' (developed India) by 2047, as envisioned by Prime Minister Narendra Modi, External Affairs Minister S Jaishankar on Tuesday urged business associations to partner with the government to ensure the revival of the country's manufacturing sector with the target of surpassing the USD 30 trillion.
IMF Chief says AI impact on labour forces to be like 'tsunami': Report
Zurich (Switzerland): Artificial intelligence (AI) is geared up to change the global labour market in a significant manner, compared to a “tsunami” by International Monetary Fund Managing Director Kristalina Georgieva, media reported.
Amazon injects Rs 1,660 cr into its Indian marketplace unit
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
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
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
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
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
Automobile manufacturer TVS Motor Company on Monday launched a new variant of the TVS iQube with 2.2 kWh battery.
India's defence sector holds prospect of USD 138 billion from FY24 to FY32
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.
Sufficient measures in place to meet peak power demand in May, June: Govt
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.
Tata Motors expects slow start to FY25 PV sales amid elections
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
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%
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%
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.
Sundar Pichai updates employees on layoffs
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
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
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.
Indian stock markets open higher on global optimism; Nifty maintains narrow range amid technical indicators
Mumbai: Domestic benchmark indices opened higher on Friday, buoyed by strong global cues.
Cipla Q4FY24: Net profit grows 79% YoY to Rs 939 cr
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
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.