Business and financial news
New Delhi: After the seventh and final phase of voting in the 2024 Lok Sabha elections, exit polls have forecasted a third term for the National Democratic Alliance (NDA) led by the Bharatiya Janata Party (BJP).
Mumbai: Market veteran Sushil Kedia, who has been bullish on a third term for NDA, feels that the actual poll verdict might surpass the predictions and anticipated an "explosion" in the market, with almost all stocks rallying but the subsequent phase would be driven by stocks that have underperformed so far, media reported.
Mumbai: With all eyes trained on the Lok Sabha Election results, illegal betting in grey markets have garnered attention with their survey predictions, especially now when their calculations have fallen in line with those of exit polls, according to media reports.
Mumbai: Billionaire Gautam Adani has reclaimed the title of Asia’s richest person from Reliance Industries Chairman Mukesh Ambani, according to the Bloomberg Billionaires Index.
Delaware/IBNS: Tesla CEO Elon Musk has landed in yet another controversy as he has been named in a shareholder lawsuit for allegedly being involved in $7.5 billion insider trades at the electric car manufacturer, reports said.
New Delhi/IBNS: The government has reduced the windfall tax on petroleum crude to Rs 5,200 ($62.33) per metric ton, down from Rs 5,700 per metric ton, according to a notification issued on Friday (May 31).
New Delhi: Orient Electric Limited, part of the diversified USD 3 billion CK Birla Group, announced today the appointment of Ravindra Singh Negi as its Managing Director and CEO.
Mumbai: Public sector lender Canara Bank has approved a proposal to dilute a 14.50 percent stake in its insurance subsidiary, Canara HSBC Life Insurance Company, via an initial public offering (IPO), the bank announced on the exchanges on May 31.
New Delhi: The Centre utilized Rs 9,48,506 crore for capital expenditure in FY24, nearly matching the revised estimate (RE) of Rs 9,49,555 crore, accounting for 99.9 percent of the RE, according to government data released on Friday.
New Delhi: India's fiscal deficit for FY24 was Rs 16.54 lakh crore, below the budgetary target of Rs 17.86 lakh crore, reaching 95.3 percent of the target, according to data from the Comptroller General of Accounts released on Friday.
New Delhi: India's index of eight core sectors grew by 6.2 percent year-on-year in April, following a 6 percent growth in March, according to official data released on Friday.
Bank of India has launched its “666 Days - Fixed Deposit” which offers returns on deposits as high as 7.95% p.a. for Super Senior Citizens for 666 Days for deposit amount of less than Rs.2.00 Crs.
India's GDP growth touched 7.8 percent in the March quarter, pushing the annual growth rate to 8.2 per cent, as per data released by the Indian government on Friday.
New Delhi: The ‘seeds’ of the NPA crisis were sown during the Congress-led UPA era through ‘phone banking’, when loans were given to undeserving businesses under pressure from UPA leaders and party functionaries. Banks were forced to neglect proper due diligence and risk assessment before sanctioning these loans, Sitharaman said on X.
New Delhi: The Enforcement Directorate (ED) has seized Rs 64,920 crore related to nearly 1,105 bank fraud cases to date, Finance Minister Nirmala Sitharaman reiterated on May 31 in a series of posts on the social media platform X.
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday announced to permit the opening of rupee accounts outside India as part of its strategic action plan to internationalise the domestic currency, reports said.
Mumbai/IBNS: The Reserve Bank of India (RBI) has moved over 100 tonnes of gold from the UK to its vaults in India, reports said.
Mumbai/IBNS: The six-week long Lok Sabha elections have reached its final stage with the Election Commission of India (ECI) going to hold the last phase of polls on Saturday (June 1), and the financial markets are eagerly waiting for the national polls' verdic, which is scheduled to be counted on June 4.
Mumbai: The higher dividends payments by the Reserve Bank of India (RBI) could continue in FY25 also, according to State Bank of India research report
Mumbai: IDFC First Bank on Thursday revealed that its board has approved the issuance of shares valued at Rs 3,200 crore on a preferential basis, priced at Rs 80.63 per equity share.
Riyadh: Saudi Arabia is set to officially launch a secondary offering of shares in the oil giant Saudi Aramco, to raise over $10 billion, as early as Sunday, according to sources familiar with the matter, reported Bloomberg.
New Delhi: Finance Minister Nirmala Sitharaman has stated that a decisive mandate in favour of the BJP-led NDA government on June 4 would send a positive signal to the stock market, and may drive it into a 'solid bull market'.
Mumbai: Healthcare services Apollo Hospitals Enterprise announced a staggering increase of 77 percent in its consolidated net profit for the fourth quarter of the fiscal year 2023-24, reaching Rs 258 crore, compared to Rs 146 crore in the same quarter of the previous fiscal year.
Mumbai: Sunil Bharti Mittal, who leads Bharti Airtel, has revealed that a meeting with Prime Minister Narendra Modi in September 2018 turned out to be a turning point for him at a time when his telecom company was in the midst of a severe crisis.
Mumbai/IBNS: Hong Kong-headquartered international brokerage firm CLSA said on Wednesday that a landmark third term for the ruling Bharatiya Janata Party (BJP) on June 4 will directly benefit 54 stocks, which include public sector undertakings (PSUs), infrastructure companies and shares of some corporate groups.
Mumbai/IBNS: The Insurance Regulatory and Development Authority of India (IRDAI), an autonomous and statutory body under the jurisdiction of the Union Ministry of Finance, has released a new master circular on health insurance, in which it instructs insurers to decide on cashless authorisation within one hour of receiving a request.
New Delhi/IBNS: Equity research and rating firm Nomura said in its latest report that India, followed by Vietnam, were the biggest beneficiaries of the shifts in global supply chains due to the China+1 strategy adopted by transnational corporations.
Mumbai/IBNS: Hong Kong-headquartered international brokerage firm CLSA said on Wednesday that a landmark third term for the ruling Bharatiya Janata Party (BJP) on June 4 will directly benefit 54 stocks, which include public sector undertakings (PSUs), infrastructure companies and shares of some corporate groups.
Mumbai/IBNS: The Insurance Regulatory and Development Authority of India (IRDAI), an autonomous and statutory body under the jurisdiction of the Union Ministry of Finance, has released a new master circular on health insurance, in which it instructs insurers to decide on cashless authorisation within one hour of receiving a request.
New Delhi/IBNS: Equity research and rating firm Nomura said in its latest report that India, followed by Vietnam, were the biggest beneficiaries of the shifts in global supply chains due to the China+1 strategy adopted by transnational corporations.
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