Business and financial news
Beijing: The IMF on Wednesday revised its projection for China's economic growth to 5 percent in 2024, up from its previous estimate of 4.6 percent, media reports said.
Mumbai: Tata Steel's net profit in January-March quarter witnessed a staggering 64.6% year-on-year decline to Rs 555 crore, as per an exchange filing released on Wednesday.
Mumbai: The Reserve Bank on Wednesday imposed business restrictions on the lending and asset reconstruction arms of the Edelweiss Group due to concerns over loan evergreening.
Mumbai: The Indian equity market extended its losing streak to a fourth consecutive session on Wednesday (May 29), with the Nifty closing at 22,700 amid selling pressure in oil & gas, IT, realty, and banking sectors.
Mumbai: Rating agency Standard & Poor's (S&P) on Wednesday updated its outlook for the Indian economy from 'stable' to 'positive', maintaining the overall rating at 'BBB-', the lowest investment grade. The transfer and convertibility assessment continues to be 'BBB+'.
Bengaluru: New York and Bengaluru Co-headquartered Tech and IT Services firm MD Chocko Valliappa has been inducted into IAOP Leadership Hall of Fame.
Mumbai/IBNS: HDFC Bank has said that it will be stopping SMS alerts for UPI transactions below Rs 100 from June 25.
New Delhi/IBNS: Both Adani Group and Paytm on Wednesday dismissed recent media reports claiming Gautam Adani was likely in talks with Vijay Shekhar Sharma, the founder chairman and managing director of Paytm's parent company One97 Communications, to acquire stake in the Indian fintech major.
Large-cap tech stocks often provide a stable yet progressive investment avenue in the dynamic market, known for their solid market position, innovative capabilities, and potential for consistent growth. Even amidst market volatility and economic headwinds, certain tech giants stand out with solid fundamentals, strategic vision, and adaptability that prime them for outperformance. Here are three such large-cap tech stocks that are set to thrive in today's market environment.
Entrepreneur Elon Musk's AI startup xAI has raised USD 6 billion in series B funding, a development that might pose a possible challenge to Sam Altman's Open AI.
Mumbai: The Reserve Bank of India (RBI) introduced three important initiatives on Tuesday: the PRAVAAH portal, the RBI Retail Direct mobile application, and the FinTech Repository, previously announced in April 2023, April 2024, and December 2023, respectively.
New Delhi: The Department of Telecommunications (DoT) has identified around 600 land parcels and buildings owned by Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL) for direct sale to government departments, public sector undertakings, and government organisations, media reported.
Mumbai: Mukesh Ambani-led Reliance Industries, which operates the world's largest refining plant, has signed a one-year agreement with Russia's Rosneft to purchase at least 3 million barrels of oil monthly in roubles, Reuters reported.
New Delhi: Troubled ed-tech firm Byju's is looking into out-of-court settlements with two of its creditors, Teleperformance and Surfer Technologies, the National Company Law Tribunal (NCLT) was informed on Tuesday, media reported.
Mumbai: The board of Adani Enterprises has approved a plan to raise Rs 16,600 crore through the Qualified Institutional Placement (QIP) route, as announced in an exchange filing on Tuesday.
New Delhi: The government has saved over Rs 25,500 crore through the treasury savings account (TSA) and single nodal agency (SNA) bank accounts, Finance Minister Nirmala Sitharaman announced on Monday.
Reserve Bank of India has fined private lenders Yes Bank and ICICI Bank over non-compliance.
Mumbai/IBNS: Hyundai Motor Co has also picked major investment banks Kotak Mahindra Capital and Morgan Stanley as its advisors for initial public offering (IPO) of its arm Hyundai Motor India Limited on the domestic bourses, reports said.
Mumbai/IBNS: After touching new heights with 5G network infrastructure in India, Mukesh Ambani, the chairperson of Reliance Industries -- India's most valuable company with a market cap of more than Rs 1989000 crore, is now planning to take his giant-killer telecom playbook to Africa and other continents.
Houston/IBNS: The prices of crude oil rose over 1 percent in muted trade owing to public holidays in Britain and the United States after a downbeat week characterised by the outlook for US interest rates in the face of sticky inflation, reports said.
New Delhi/IBNS: The Government of India has been running many schemes to help the people of the country, especially the women, youth and senior citizens, and most of the government schemes are being operated from the post office.
New Delhi/IBNS: India's Gross Domestic Product (GDP) in the fourth quarter of the financial year 2023-24 is projected to have grown between 6.1 percent and 6.7 percent, a decline from the over 8 percent growth rate noticed in the previous three quarters, reports said.
The BSE benchmark Sensex moved up to touch the landmark 76,000-mark for the first time on Monday.
Marking a major step towards foraying into new and alternate energy and in line with the National Green Hydrogen Mission, GAIL (India) Limited has installed its first Green Hydrogen Plant at GAIL Vijaipur in Madhya Pradesh.
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI) is cracking down on gaming apps offering virtual trading services and fantasy games based on the movement of real-time share prices of listed companies, which have mushroomed over the past few years in the wake of high retail investor appetite for stock trading, reports said.
Mumbai/IBNS: Mukesh Ambani, the chairman and managing director of Reliance Industries, is taking his giant-killer telecom playbook to Africa as the billionaire seeks to focus on mobile broadband customers in the continent.
Mumbai/IBNS: Foreign investors have taken out a massive Rs 22,000 crore from Indian equities so far in May, due to uncertainty surrounding the results of the Lok Sabha polls and outperformance of Chinese markets, reports said.
Mumbai: Fintech unicorns BharatPe Group and PhonePe Group have reached a mutually agreeable resolution for all long standing legal disputes in connection with the use of the trademark suffix 'Pe', the companies said in a joint statement, according to media reports.
Maldives may soon introduce India's RuPay service, a senior minister of the country said recently.
Maldives may soon introduce India's RuPay service, a senior minister of the country said recently.
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