Business and financial news
Mumbai: Jio Platforms Ltd, the digital services arm of India’s largest conglomerate and parent company of Reliance Jio Infocomm Ltd, reported an 11.7% increase in quarterly profit to Rs 5,698 crore compared to the previous year.
Mumbai: Vedanta Limited announced on Friday that it raised Rs 8,500 crore through a Qualified Institutions Placement (QIP), which launched on July 15, at a price of Rs 440 per share, media reported.
New Delhi: Insolvency proceedings against Byju's, once India’s largest startup with a valuation of $22 billion, could lead to mass employee layoffs and a complete halt of its services, Reuters reported, citing a court filing by its CEO.
Bengaluru: IT services major Wipro reported a net profit of Rs 3,036.6 crore for the first quarter of FY25, a 5.2 percent increase from the same period last year and a 6.2 percent rise quarter-on-quarter, media reported.
Mumbai: Bharat Petroleum Corporation Limited (BPCL) reported a standalone net profit of Rs 3,015 crore for the first quarter of the financial year 2024-25, a 71 percent decrease from the Rs 10,551 crore net profit in the same period last year.
Mumbai: Indian fast-moving consumer goods (FMCG) company, Patanjali Foods, reported a massive 200 percent rise in net profit YoY to Rs 262.9 crore in the first quarter ending June 30, 2024, media reported.
Mahindra Group Chairman Anand Mahindra, who is known for his influential presence on the internet, reacted to Microsoft's massive outage that disrupted operations across airlines, banks, and major corporations globally, impacting services from customer communications to financial transactions.
Mumbai: Mukesh Ambani-led Reliance Industries Ltd (RIL) reported an 11.5 percent rise in revenue, reaching Rs 2.58 lakh crore in the fiscal first quarter compared to the previous year, driven by growth across various segments.
In its latest development outlook, the Asian Development Bank has kept India's economic growth forecast unchanged at 7 percent for the fiscal year 2024.
Global investment company Temasek, which is headquartered in Singapore, might be investing $10 billion in India during the next three years.
Thrissur: South Indian Bank has declared a net profit of Rs 294 crore for the first quarter of FY 2024-25, recording a whopping 45% growth compared to Rs 202 crore in the same quarter of the previous fiscal year.
Mumbai: LTIMindtree on Wednesday reported a consolidated net profit of Rs 1,134 crore for the quarter ended June 30, 2024, a 1.5% decline from the Rs 1,152 crore reported in the same period last year, media reported.
Kolkata: Vodafone Idea today announced expansion of L900 technology in 3000 sites across Kolkata, to deliver a stronger indoor coverage experience for users.
Gurugram: BMW Motorrad is set to launch its CE 04 electric scooter in India on July 24, with pre-launch bookings already underway.
Pune: Bajaj Electricals Limited announced the resignation of its Managing Director and Chief Executive, Anuj Poddar, from his position and as a member of the board of directors on Wednesday.
New Delhi: The Asian Development Bank (ADB) on Wednesday maintained its GDP growth forecast for India at 7 percent for the current financial year, anticipating a rebound in agriculture due to above-normal monsoon projections, according to media reports.
Bengaluru: Education technology company Byju's will challenge insolvency proceedings initiated against it in an effort to block the process this week, as the startup, once valued at $22 billion, tries to navigate its current crisis, two sources said on Wednesday, Reuters reported.
Mumbai: Asian Paints on Wednesday reported a nearly 25 percent year-on-year decline in its consolidated net profit for Q1 FY25, amounting to Rs 1,170 crore, due to a challenging demand environment.
Mumbai: Sirius Digitech Limited, a joint venture between the Adani Group and Sirius International Holding (Sirius), announced on Tuesday the signing of binding agreements to acquire Coredge.io Private Limited, a cloud platform company.
Mumbai: SpiceJet announced on Tuesday that Chief Financial Officer Ashish Kumar will be departing the company to pursue other opportunities.
New Delhi: Taiwanese firms are relocating their supply chains from China to India as Taipei and New Delhi strengthen economic ties, according to the head of Taiwan's main trade body, reported Reuters.
Union Civil Aviation Minister Kinjrapu Rammohan Naidu has announced the implementation of a uniform IGST rate of 5% on all aircraft and aircraft engine parts, effective from today,15th July 2024.
Marking a swift growth, Apple's annual sales in India touched a record of nearly $8 billion.
The final ‘Report of India’s G20 Task Force on Digital Public Infrastructure’ by ‘India’s G20 Task Force on Digital Public Infrastructure for Economic Transformation, Financial Inclusion and Development’ was released in New Delhi, on Monday.
Mumbai: Vedanta Limited plans to use the proceeds from its Rs 8,000-crore Qualified Institutional Placement (QIP) offer to partially or fully repay its debt to Oaktree Capital, Deutsche Bank, and Union Bank of India, according to the offer documents filed by billionaire Anil Agarwal’s company, media reported.
State Bank of India has launched a new term deposit scheme named "Amrit Vrishti".
NPCI International Payments Limited (NIPL) has signed an agreement with QNB, the largest financial institution in the Middle East and Africa, headquartered in Qatar, to launch QR code-based Unified Payments Interface (UPI) payments across the country.
Mumbai: Bajaj Auto Ltd on Tuesday reported an 18% year-on-year increase in its consolidated net profit for Q1 FY25, reaching Rs 1,941.79 crore, driven by steady demand, strong two-wheeler sales, and higher realizations.
Gurgaon: NCAER and IEPFA, in association with MDI Gurgaon, organised a workshop on investor education and protection with the focus on equipping the youth with necessary skills and knowledge to navigate through the complexities of the modern financial landscape.
Sanstar Limited is one of the major manufacturers of plant-based speciality products and ingredient solutions in India for food, animal nutrition and other industrial applications, has fixed the price band of Rs. 90/- to Rs.95/- per Equity Share of face value Rs.2/- each for its maiden initial public offer.
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