Business and financial news
Chennai/IBNS: A fire at Tata Group's plant in Tamil Nadu, which produces components for Apple iPhones, could disrupt production ahead of the festive season sales surge, Reuters reported, citing industry experts and a source familiar with the situation.
California/IBNS: American artificial intelligence (AI) research company OpenAI has secured $6.6 billion in investments, potentially valuing the ChatGPT maker at $157 billion, positioning it among the world’s most valuable private enterprises, Reuters reported.
Mumbai/IBNS: The BSE will continue offering weekly derivative contracts linked to the Sensex, after the new, stricter regulations on equity derivatives set by India's market regulator the Securities and Exchange Board of India (SEBI), Reuters reported, citing two sources familiar with the matter.
Mumbai/IBNS: Benchmark Indian equity indices, BSE Sensex and NSE Nifty50, experienced a significant downturn on Thursday (Oct. 3), with the Sensex plummeting over 1,300 points and the Nifty50 falling below 25,450.
Mumbai: Concrete equipment manufacturer Ajax Engineering services and solutions across the concrete application value chain has filed the draft red herring prospectus with capital markets regulator SEBI to float an initial public offering.
New Delhi: India’s financial ecosystem has undergone a significant transformation, driven by deep internet penetration, affordable 4G and 5G services, and a range of government digital initiatives.
Kolkata: Railway Minister Ashwini Vaishnaw on Wednesday said there is a Rs 60,000-crore investment opportunity for the railways in West Bengal, media reports said.
Tesla delivered fewer vehicles than analysts had anticipated in the third quarter, facing pressure from strong competition in China and Europe, which dampened demand for its aging models, Reuters reported.
New Delhi: Loan sanctions by non-banking finance companies (NBFCs) in India saw a 12% year-on-year (YoY) increase in the first quarter of the current financial year (Q1FY25), driven by strong growth in home, auto, and personal credit segments, media reports said.
Mumbai: Adani Enterprises Ltd. (AEL) has consolidated two of its subsidiaries with Adani New Industries Ltd. (ANIL) as part of its strategy to enhance its green energy portfolio.
Thimphu: Reliance Group announced a strategic collaboration with the government of Bhutan to develop large-scale solar and hydropower projects.
Mumbai/IBNS: While India's secondary market continues to soar, with benchmark indices hitting new highs daily, the primary markets are also experiencing a wave of activity.
Mumbai/IBNS: A surge of initial public offerings (IPOs) is set to hit the Indian stock market, with more than a dozen companies, including Vikram Solar, Aditya Infotech, and Varindera Constructions, submitting preliminary filings to market regulator SEBI in a single day.
Mumbai/IBNS: In September 2024, the Indian car market experienced a slight year-on-year (YoY) decline of 1.1 percent, with total car sales reaching 3,58,886 units, compared to 3,62,876 units in September 2023.
Mumbai/IBNS: Oil and safe-haven assets surged after Iran launched a missile attack on Israel, causing US stocks to fall on Tuesday (Oct. 1) as investors sought safety, reports Bloomberg.
New York: Commerce and Industry Minister Piyush Goyal chaired a roundtable discussion with young CEOs and entrepreneurs of Indian origin in New York organised by the Consulate General of India to discuss the business landscape of India and provide suggestions for reforms.
Mumbai: The Securities and Exchange Board of India (SEBI) has introduced a series of measures to strengthen the index derivatives framework, aiming to protect investors and stabilize the market, media reports said.
New Delhi: The government has appointed Ram Singh, Saugata Bhattacharya, and Nagesh Kumar as the new external members of the Reserve Bank of India's Monetary Policy Committee (MPC), according to a government statement released on Tuesday.
Chennai: Ford Motor Co. is in talks to produce electric vehicles at its southern India plant in Tamil Nadu, which marks its potential return to the world’s third-largest car market three years after shutting down its local factories.
New Delhi: The All India Mobile Retailers Association (AIMRA) has called on the Central government to revoke the licenses of Chinese smartphone brands such as iQoo, Poco, and OnePlus, accusing them of anti-competitive practices that hurt local retailers and result in financial losses to the exchequer, media reports said.
New Delhi/IBNS: India's manufacturing sector slowed to an eight-month low in September as factory output and sales growth decelerated, and international orders saw their weakest rise in 18 months, according to a private survey released on Tuesday (Oct. 1).
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Mumbai/IBNS: The Shapoorji Pallonji (SP) Group is considering increasing the size of the initial public offering (IPO) for Afcons Infrastructure Ltd, with the aim of raising between Rs 8,000 and Rs 8,500 crore due to strong interest from institutional investors, Moneycontrol reported, citing people familiar with the matter.
California/IBNS: Sony Pictures Entertainment (SPE) revealed on Tuesday (Oct. 1) that its Chairman and CEO, Tony Vinciquerra, will step down from his position on January 2, 2025, and Ravi Ahuja, the current Chief Operating Officer (COO), who has been with SPE since 2021, will take over as the new CEO.
New Delhi/IBNS: Ahead of the festive season, the Indian oil marketing companies have implemented a price hike for commercial LPG gas cylinders, with the new rates taking effect on Tuesday (Oct. 1).
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI), the regulatory body for securities and commodity market in the country, has raised objections to companies using proceeds from share sales to repay loans taken from promoters or promoter entities, Moneycontrol reported, citing sources familiar with the matter.
California/IBNS: Meta CEO Mark Zuckerberg has officially entered the elite $200 billion net worth club, marking a major achievement in his financial trajectory.
New Delhi/IBNS: Indian fintech company BharatPe announced on Monday (Sept. 30) that it had reached a settlement with its former co-founder Ashneer Grover, formally ending his association with the company.
Mumbai/IBNS: Stock market investors faced a significant loss of nearly Rs 3 lakh crore as Indian benchmark indices took a sharp hit following a weak start to Monday’s (Sept. 30) trading session.
NPCI International Payments Limited (NIPL) has entered into a strategic partnership with the Ministry of Digital Transformation (MDT) of Trinidad and Tobago to develop a real-time payments platform similar to India’s ‘Unified Payments Interface’ (UPI).
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