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.
IBNS•Oct 19, 2024
Finance
Business and financial news
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.
IBNS•Oct 19, 2024
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.
IBNS•Oct 18, 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.
IBNS•Oct 18, 2024
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.
IBNS•Oct 18, 2024
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.
IBNS•Oct 18, 2024
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.
IBNS•Oct 18, 2024
Ather Energy introduces care service plans for customers
EV major Ather Energy introduced the Ather Care service plans for its customers.
IBNS•Oct 18, 2024
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.
IBNS•Oct 18, 2024
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.
IBNS•Oct 18, 2024
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.
IBNS•Oct 18, 2024
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.
IBNS•Oct 18, 2024
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).
IBNS•Oct 18, 2024
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.
IBNS•Oct 18, 2024
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.
IBNS•Oct 17, 2024
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.
IBNS•Oct 17, 2024
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.
IBNS•Oct 17, 2024
'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.
IBNS•Oct 17, 2024
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.
IBNS•Oct 17, 2024
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.
IBNS•Oct 17, 2024
Hyundai Motor India IPO subscribed 2x on last day of sale
Mumbai/IBNS: Hyundai Motor India Ltd's (HMIL) initial public offering (IPO) saw double the subscription on its third day of bidding, with bids for 19.96 crore shares compared to the 9.98 crore shares available, according to data from the NSE at 2 pm on Thursday (Oct. 17).
IBNS•Oct 17, 2024
Haldiram Snacks' promoters revise stake sale plans, eye 10-15% offload
New Delhi/IBNS: The promoters of Haldiram Snacks Food Pvt Ltd, one of India’s leading snack manufacturers, have adjusted their strategy regarding the sale of company shares.
IBNS•Oct 17, 2024
Board of Tata Trusts meets to discuss appointment of third representative to Tata Sons
Mumbai/IBNS: The board of Tata Trusts is meeting today (Thursday, Oct. 17) to discuss the appointment of a third representative to the board of Tata Sons, reports Economic Times.
IBNS•Oct 17, 2024
Analysis of International Economic Data to Identify Investment Avenues in India
Due to the interdependence of world economies, events and data releases around the globe play a major role in the movements of markets across the world, including India. By learning how to analyze such worldwide economic data, investors may more effectively indicate Indian market opportunities as well. Using interpretation of key indicators from major economies as a forecast of trends that affect Indian stock, commodity, and currency markets becomes possible.
IBNS•Oct 17, 2024
Shapoorji Pallonji to make Rs 1,800 cr interest payment to bondholders by Oct-end; Afcons IPO next week: Report
Mumbai: The Shapoorji Pallonji (SP) group is expected to make a Rs 1,800 crore interest payment to bondholders by the end of October, following the conclusion of the Gopalpur port stake sale and the launch of Afcons Infrastructure's initial public offering (IPO) next week, Moneycontrol reported.
IBNS•Oct 16, 2024
IT Dept's ITR E-Filing Portal 3.0 to be simple & user-friendly
New Delhi: The Income Tax department is planning to launch an upgraded e-filing platform, ITR E-Filing Portal 3.0, designed to be simpler and more user-friendly for filing returns, media reports said.
IBNS•Oct 16, 2024
India extends full-capacity mandate for imported coal power plants till Dec 31: Report
New Delhi: India has extended the mandate for imported coal-based power plants to operate at full capacity until December 31, anticipating increased power demand, according to a government circular reviewed by Reuters.
IBNS•Oct 16, 2024
Hyundai Motor IPO subscribed 42% on day 2
Mumbai: Hyundai Motor India's initial public offering (IPO) was 42% subscribed on the second day of bidding, October 16.
IBNS•Oct 16, 2024
India expediting FTA negotiations with Australia to resolve key differences: Report
New Delhi: India is aiming to accelerate its free trade agreement (FTA) negotiations with Australia over the next two months in an effort to resolve key differences on sensitive issues and finalize the deal, media reports said.
IBNS•Oct 16, 2024
Bajaj Auto Q2FY25 net profit jumps 9% to Rs 2,005 cr
Mumbai: Bajaj Auto reported a 9% rise in standalone net profit for Q2FY25, reaching Rs 2,005 crore, media reports said.
IBNS•Oct 16, 2024
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