Business and financial news
New Delhi/IBNS: The Indian Ministry of Finance on Friday exuded confidence about the country's economic resilience, amid global conflicts and commodity price spikes, reports said.
Bengaluru/IBNS: American tech titan Google has invested around $350 million in Indian e-commerce giant Flipkart's $950 million round at a valuation of $36 billion, reports said.
New Delhi/IBNS: Bernstein Research, in its latest India Strategy report, said a tally of around 330-350 seats for the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) government in the ongoing Lok Sabha elections could trigger a short-term rally in stock markets with the benchmark Nifty index breaching the 23,000-mark post-elections.
Bengaluru: Talent assessment platform HireMee enables equal access to opportunities for small town youth in India by connecting them with employers in pursuit of its vision of India where no talent is unemployed or underemployed’ won the Global Impact Sourcing Award (GISA) from IAOP, the premier global organization dedicated to shaping the future of business.
Mumbai: Hindalco Industries reported a 31.6 percent year-on-year increase in consolidated net profit for the March quarter, reaching Rs 3,174 crore compared to Rs 2,411 crore a year ago. This growth was driven by robust sales and lower input costs across its business segments.
Mumbai: Torrent Pharmaceuticals Ltd reported a 57 percent increase in its consolidated net profit for the March quarter, reaching Rs 449 crore compared to Rs 287 crore in the same period last year, media reported.
Mumbai: Adani Ports and Special Economic Zone Ltd (APSEZ) will replace Wipro Ltd in the 30-stock blue-chip S&P BSE Sensex starting June 24, according to an announcement made by the index operator on Friday, reported Reuters.
New Delhi: State-owned Cochin Shipyard Ltd reported an impressive increase in its consolidated net profit, reaching Rs 258.88 crore for the March 2024 quarter, driven by higher income.
New Delhi: India's foreign exchange reserves surged by $4.549 billion to a record high of $648.7 billion for the week ending May 17, according to the Reserve Bank's announcement on Friday.
Kolkata: Jewellery retailer Senco Gold Limited reported a Profit After Tax (PAT) of Rs. 32.17 crore, marking a 23.6% increase year-on-year (YoY) from Rs. 26.03 crore in Q4 FY23.
As part of the latest funding round led by Walmart, Flipkart on Friday announced that it will be adding Google as a minority investor, subject to receipt of regulatory and other customary approvals by both parties.
Mumbai: Jio Financial Services (JFS) is seeking shareholder approval for its subsidiary to acquire equipment worth Rs 36,000 crore from Reliance Industries' retail division as part of its plan to enter the device leasing market, according to a postal ballot notice, reported Reuters.
Mumbai: Chairman and Chief Investment Officer of GQG Partners Rajiv Jain has witnessed a substantial 150 percent growth in his investments in the Adani Group over the past year, according to a Moneycontrol report.
Mumbai: Jaguar Land Rover has said it will start assembling the iconic Range Rover models at the Pune plant in India, marking the first time this process will occur outside of the UK.
US Ambassador Eric Garcetti said the United States International Development Finance Corporation is planning to invest $3.8 billion to meet India's renewable energy and infrastructure goals.
The European Commission has fined US-based food company Mondelez International, the maker of Oreo biscuits and Cadbury Dairy Milk chocolate, for hindering the cross-border trade of chocolate, biscuits and coffee products between Member States, in breach of EU competition rules.
Mumbai/IBNS: Godrej Properties has suffered a jolt in the stock market after the Defence Ministry objected to its residential venture in Mumbai capable of producing revenue of Rs. 7,000, media reports said.
Tata Group-owned Air India Thursday announced a salary hike of up to Rs 15,000 for pilots besides an annual performance bonus of up to Rs 1.8 lakh with effect from April 1.
Brussels: Tyre manufacturer Bridgestone has been chosen by Maserati to develop bespoke 20’’ tyres for its first all-electric SUV, the Maserati Grecale Folgore.
Gurgaon: InterGlobe Aviation Ltd., which operates budget airline IndiGo, today reported a net profit of Rs 18,948 million in the fourth quarter of FY24 compared to net profit of Rs 9,192 million.
Chennai/IBNS: Google has bet big on India as the American tech giant has picked Tamil Nadu for production of its Pixel smartphones and drones, reports said.
Kolkata: ITC Ltd reported a standalone net profit of Rs 5,020.2 crore for the March quarter, marking a 1.31 percent decrease compared to the same quarter last year. The decline was attributed to flat cigarette volumes and lower FMCG margins.
Mumbai: Around 4.1 crore shares of Star Health and Allied Insurance, representing a 7.05 percent stake in the company, were exchanged in block deals on the stock exchanges, media reported.
New Delhi/IBNS: The Registrar of Companies (RoC) under the Ministry of Corporate Affairs (MCA) on Wednesday (May 22) imposed fines on Microsoft-owned LinkedIn Technology Information Pvt Ltd or LinkedIn India, Microsoft CEO Satya Nadella, LinkedIn CEO Ryan Roslansky and seven other individuals for violation of the significant beneficial owner norms under the companies law, media reports said.
Bengaluru/IBNS: Ola Group's founder and CEO Bhavish Aggarwal said on May 22 that the company has completed the shift of its entire workload to in-house artificial intelligence (AI) firm Krutrim, a week after cutting ties with its cloud service provider Microsoft Azure.
New Delhi/IBNS: Mercedes-Benz has launched the Maybach GLS600 in the Indian market at a price tag of Rs. 3.35 Crore (ex-showroom).
New Delhi/IBNS: Hinting at the likelihood of Artificial Intelligence (AI)-driven layoffs in the future, Paytm CEO Vijay Shekhar Sharma, in a letter to shareholders on Wednesday (May 22), said that the fintech company will focus on its core businesses and improve cost efficiencies to create a leaner organization.
New Delhi/IBNS: The Adani Group CFO has taken a dig at an investigating report claiming the conglomerate was involved in the alleged coal scam.
New Delhi: Concentration of critical minerals in certain geographic regions like China render global supply chains vulnerable to disruptions leading to increased price volatility. This poses significant challenges to India’s energy security due to its total reliance on imports of critical minerals like lithium, cobalt, and nickel, which are essential for the green technology transition needed to meet its net-zero commitments by 2070, rating agency ICRA noted in a report.
Legal Entity Identifier (LEI) is a way to maintain transparency and security in the business and financial world. It helps businesses and investors learn more and verify someone's identity and background.
Get the latest news delivered to your inbox
Connect with us on social media
