Business and financial news
Tokyo: Bridgestone Corporation today announced that it will invest ¥25 billion to upgrade equipment for certain facilities at the Kitakyushu Plant, which produces tires for mining and construction vehicles.
New Delhi: The government is not considering any relaxation of the tax demand sent to Infosys last month, Reuters reported, citing a government source.
New Delhi: Amazon.com India's country head Manish Tiwary has resigned after working with the e-commerce giant for eight years, the company said on Tuesday.
Mumbai: Ola Electric Mobility's Initial Public Offering (IPO), valued at Rs 6,145.56 crore, was subscribed 4.26 times on its final day, falling short of market expectations, media reports said.
Mumbai: Crypto exchange WazirX said Tuesday that following its previous police complaint regarding the $230-million cyberattack last month, a first information report (FIR) was filed at PS Special Cell, PS Lodhi Colony in New Delhi.
New Delhi: The political upheaval in Bangladesh, which resulted in the ouster of Prime Minister Sheikh Hasina on August 5, may impact India's first transnational power supply project operated by billionaire Gautam Adani's Adani Power Ltd, according to media reports.
Mumbai: Billionaire Anil Agarwal's Vedanta Ltd announced on Tuesday that its consolidated net profit for the quarter ending June 30, 2024, surged by 36.5 percent to Rs 3,606 crore, compared to Rs 2,640 crore in the same period the previous year.
Bengaluru/IBNS: Indian space tech startup EtherealX, which is focussing on making reusable rockets, raised $5 million in a seed-funding round, which was led by 'Pre-Series A' fund YourNest Venture Capital and also saw participation from BIG Global investments JSC, BlueHill Capital and others.
Tokyo/IBNS: The Japanese stocks surged more than 10 percent on Tuesday (Aug 6), bouncing back from a record selloff on Monday (Aug 5) on worries over the US economy and a stronger yen, reports said.
New York/IBNS: The Wall Street on Monday (Aug 5) continued the sell-off in global equities owing to a multitude of factors.
New Delhi/IBNS: India's passenger vehicle sales recorded a 10 percent on-year surge in July driven by new model launches and enhanced discounts, according to Federation of Automobile Dealers Associations (FADA), the apex national body of Automobile Retail Industry in the country engaged in the sale, service and spares of two and three Wheelers, passenger cars, utility vehicles (UVs), commercial vehicles and tractors.
Mumbai/IBNS: Indian rupee opened at a record low against the US dollar on Monday, on worries that the risk off prompted by US recession worries could lead to foreign outflows, reports said.
Ahmedabad/IBNS: Gautam Adani, the chairman of Indian multinational conglomerate Adani Group, said he is planning to step down as the group's chairman at the age of 70.
Mumbai/IBNS: Indian stock markets crashed in early hours on Monday (Aug 5) as benchmark indices Sensex and Nifty were off to a weak start on the bourses, extending losses for a second session in a row after weak global cues, growing tensions between Iran and Israel in the Middle East, weak US jobs data, and recessionary fears dented sentiment across sectors.
The Indian market witnessed one of the major crashes on Monday with Sensex and Nifty marking a significant drop during early trade.
New Delhi: A fortnight long exhibition dedicated to celebrating 10th National Handloom Day began at Handloom Haat in Janpath on Saturday.
Guwahati: The construction of Tata’s semiconductor unit in Assam's Jagiroad started on Saturday as part of the government's attempt to create an end-to-end semiconductor manufacturing ecosystem in India, the Ministry of Information Technology said in a press release.
New Delhi/IBNS: The Unified Payments Interface (UPI) transaction values surpassed Rs 20 trillion for the third successive month in July 2024, according to data released by the National Payments Corporation of India (NPCI) — a state-owned organization that operates retail payments and settlement systems in the country — on Thursday (Aug 1).
Dearborn, Michigan/IBNS: American multinational automobile giant Ford, which exited India in 2021 over losses and poor sales, could re-enter the Indian market with a global team including CEO Jim Farley as it is set to consider a fresh proposal with a new strategy for the market, reports the Times of India (TOI).
New Delhi/IBNS: Prime Minister Narendra Modi inaugurated the 32nd International Conference of Agricultural Economists (ICAE) at National Agricultural Science Centre (NASC) Complex in New Delhi on Saturday.
New Delhi: India’s seafood exports have increased from Rs 46,662.85 crore in 2019-20 to Rs. 61043.68 Crore in 2023-24 registering a growth of 30.81%, Minister of State for Commerce and Industry Jitin Prasada informed Rajya Sabha on Friday.
New Delhi: The coal sector showed the highest growth of 14.8% among the eight core industries in June 2024, according to the Index of Eight Core Industries (ICI) with a base year of 2011-12, released by the Ministry of Commerce & Industries.
New Delhi: Air routes that were discontinued before the three-year tenure have been re-offered for bidding under UDAN Round 5.3, Minister of State for Civil Aviation Murlidhar Mohol informed Lok Sabha on Thursday.
New Delhi: In a major boost to the domestic MRO industry and to the aviation sector, the Centre has announced a uniform rate of 5% IGST on imports of parts components, testing equipment, tools and tool-kits of aircraft, irrespective of their HSN classification subject to specified conditions.
New Delhi: The Cabinet Committee on Economic Affairs approved eight national high-speed road corridor projects on Friday, spanning a total length of 936 km across the country, with an investment of Rs 50,655 crore, Union Minister Ashwini Vaishnaw said in a press briefing.
Mumbai: Britannia Industries reported quarterly earnings below market expectations on Friday, as branded consumer goods makers face stiff competition from smaller rivals offering cheaper alternatives, Reuters reported.
Bengaluru: The National Company Law Appellate Tribunal (NCLAT) approved the settlement reached between Byju Raveendran and the Board of Control for Cricket in India (BCCI), exempting Byju's parent company, Think and Learn, from the insolvency resolution process.
Udaipur: Hindustan Zinc on Friday said its consolidated net profit for June quarter rose 19 percent to Rs 2,345 crore as against Rs 1,964 crore in Q1FY24.
Mumbai: Zomato's net profit soared 126.5 times to reach Rs 253 crore in the April-June quarter (Q1) compared to the same period last year, media reports said.
The Income Tax department on Friday said a record Rs. 7.28 crore has been filed till July 31 which is 7.5% more than the total ITRs for AY 2023-24 (6.77 crore) filed till 31st July, 2023.
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