Vedanta Ltd to boost renewable energy capacity and halt new coal-fired units: Report
Mumbai: Vedanta Ltd aluminium business will stop adding coal-fired capacity, indicating a major shift towards renewable energy, media reported
IBNS•May 22, 2024
Finance
Business and financial news
Power Grid Corporation March qtr PAT grows 4% to Rs 4,166.33 cr
Mumbai: State-owned Power Grid Corporation reported a nearly four percent decrease in its consolidated net profit to Rs 4,166.33 crore for the March 2024 quarter, primarily due to a slight decline in income.
IBNS•May 22, 2024
Sun Pharma Q4FY24 PAT grows 34% to Rs 2,655 cr; Rs 5 per share dividend declared
Mumbai: Leading pharmaceutical company Sun Pharmaceutical Industries Ltd announced a consolidated net profit of Rs 2,654.5 crore for the March quarter, a 34 percent increase from the same period last year, media reported.
IBNS•May 22, 2024
Nykaa Q4FY24 PAT grows to Rs 9 crore; revenue jumps 28%
Mumbai: FSN E-Commerce Ventures, the owner of personal care (BPC) firm Nykaa, reported a rise in its Q4FY24 net profit of Rs 9 crore, growing more than four times from Rs 2 crore the same period last year.
IBNS•May 22, 2024
Centre plans to develop AI model tailored for India's use, Rs 2,000 cr allocated as initial investment
New Delhi: The Indian government has decided to develop its own expertise in the field of artificial intelligence (AI) by creating the base for a custom foundational model meant to meet the needs of Indian companies, entrepreneurs, academics, and researchers, reported The Economic Times citing sources.
IBNS•May 22, 2024
FIIs dump financial, IT, construction, oil & gas, FMCG holdings in first half of May: Report
Mumbai/IBNS: Foreign institutional investors (FIIs) sold over $3 billion (Rs 25,000 crore) in Indian equities in the first half of May, with National Securities Depository Limited (NSDL) data showing that more than 90 percent of the selling concentrated in five sectors, including Financial, Information Technology (IT), Construction, Oil and Gas, and Fast-Moving Consumer Goods (FMCG), media reports said.
IBNS•May 22, 2024
RBI approves a dividend of Rs 2.11 lakh cr, an increase of 141% YoY
Mumbai: The Reserve Bank of India on Wednesday approved a dividend of Rs 2.11 lakh crore for the Central government for FY24, a significant increase of around 141 percent compared to FY23.
IBNS•May 22, 2024
Paytm Q4FY24 loss widens to Rs 550 cr YoY; FY24 increases 25%
New Delhi: Digital payments firm Paytm reported a consolidated loss of Rs 549.6 crore for the fourth quarter of the financial year 2023-24 (Q4 FY24), up from Rs 168.4 crore in the same quarter the previous year, media reported.
IBNS•May 22, 2024
Byju's gets 3 NCLT notices over non-payment of dues: Report
New Delhi: The National Company Law Tribunal (NCLT) on Wednesday issued notices to Think and Learn Pvt Ltd, the parent company of Byju’s, in three cases related to unpaid dues to operational creditors, media reports said.
IBNS•May 22, 2024
FSSAI finds no trace of ethylene oxide in sample spices of MDH, Everest: Officials
New Delhi/IBNS: The Food Safety and Standards Authority of India (FSSAI) has not found ethylene oxide (ETO), a cancer-causing chemical, in the sample spices of MDH and Everest, officials said on Tuesday.
IBNS•May 22, 2024
SEBI issues framework to manage stock impact emerging from market rumours
New Delhi/IBNS: The Securities and Exchange Board of India (SEBI) has issued fresh guidelines to manage the stock market impact arising out of market impacts, according to reports.
IBNS•May 22, 2024
Magadh Sugar & Energy Ltd Q4FY24 PAT grows to Rs 47 cr
Mumbai: Magadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) reported an increase in PAT in Q4FY24 at Rs 47 crore as against Rs 35 crore in Q4FY23.
IBNS•May 21, 2024
Avadh Sugar & Energy Ltd Q4FY24 PAT drops to Rs 55 cr
Mumbai: Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) reported a drop in PAT in Q4FY24 at Rs 55 crore as against Rs 79 crore in Q4FY23.
IBNS•May 21, 2024
Bitcoin soars to $71,000 today: what’s fuelling the rally?
Mumbai: Bitcoin (BTC) surged above $71,000 early Tuesday, its highest level since early April, while Ether increased by over 19% to $3,700, media reported.
IBNS•May 21, 2024
Silver prices to maintain bullish trend despite pause on Tuesday
Silver prices fell on Tuesday after reaching a multi-month high in the previous session. The decline was prompted by cautious comments from U.S. Federal Reserve officials and profit-taking by investors, reported fxempire.
IBNS•May 21, 2024
Alignment with 4% inflation target may occur in latter part of the year: RBI report
Mumbai: The Reserve Bank of India's (RBI) latest monthly bulletin, released on Thursday, indicates that achieving a sustained alignment of inflation with the 4 percent target may occur in the latter half of the year.
IBNS•May 21, 2024
JSW Cement to invest Rs 3,000 cr to establish new integrated cement facility in Rajasthan
Mumbai: JSW Cement announced on Tuesday that it will invest nearly Rs 3,000 crore for a new cement manufacturing plant in the Nagaur district of Rajasthan.
IBNS•May 21, 2024
BHEL Q4FY24 net profit drops 26% to Rs 489.62 cr
New Delhi: State-owned Bharat Heavy Electricals Limited (BHEL) on Tuesday reported a consolidated net profit of Rs 489.62 crore for the January-March quarter (Q4) in the financial year 2023-24 (FY24).
IBNS•May 21, 2024
5 Top Things to Know About Kotak811 Debit Cards
Managing finances has become easier than before, thanks to the convenience and security offered by debit cards. Among numerous options available around the globe, Kotak811 Debit Cards shine bright, offering a range of features designed to make your financial journey simple and stress-free. Whether you're new to the world of debit cards or already have a Kotak811 Debit Card in your wallet, here are five essential insights to help you understand its full potential.
IBNS•May 21, 2024
SEBI revises method to calculate market capitalisation of listed companies
New Delhi: The markets regulator SEBI has revised the method for calculating the market capitalisation of listed companies under the Listing Obligations and Disclosure Requirements (LODR) rules.
IBNS•May 21, 2024
Govt asks PSU refiners, RIL to collaborate on negotiating oil-deal with Russia: Report
New Delhi: The government has asked its state-run oil refiners and private company Reliance Industries Ltd. to collaborate on negotiating a long-term supply agreement with Russia, Bloomberg reported.
IBNS•May 21, 2024
CCI to bring new set of merger regulations soon
New Delhi/IBNS: Competition Commission of India (CCI)'s chairperson Ravneet Kaur on Monday said that the country's apex national competition regulator will soon come out with a new set of merger regulations, giving effect to competition law amendments enacted last year.
IBNS•May 21, 2024
Robust investment and industrial demand fuel silver prices to surge to all-time high
Mumbai/IBNS: Silver prices on Monday (May 20) climbed by 4.66 percent, settling at 95267, fueled by strong investment and industrial demand, reports said.
IBNS•May 21, 2024
Akzo Nobel India Q4FY24 PAT grows 14% to Rs 109 cr
Mumbai: Akzo Nobel India reported a 14% year-on-year increase in its fourth-quarter net profit, reaching Rs 108.8 crore.
IBNS•May 20, 2024
Amazon's Propel 4 aims to launch 50 Indian startups in global markets in 2024
Kolkata: Amazon India has announced the launch of the fourth season of Propel – a global business accelerator for startups in the consumer products space.
IBNS•May 18, 2024
Car Insurance Add-Ons You Should Always Opt When Buying A New Car
When purchasing a new car, ensuring adequate insurance coverage is paramount to protecting your investment and providing financial security in unforeseen events. While standard car insurance policies offer basic coverage, adding add-ons can enhance your protection and provide additional benefits tailored to your needs.
IBNS•May 18, 2024
Indian stock markets open today as NSE, BSE hold special trading session
Mumbai/IBNS: Indian stock markets are open today (Saturday, May 18) as both the benchmark indices -- National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) -- are holding a special trading session.
IBNS•May 18, 2024
JSW Steel Q4FY24 PAT drops 64% YoY to Rs 1,299 cr
Mumbai: JSW Steel reported a 64% year-on-year (YoY) decline in consolidated net profit for the quarter ended March 2024 to Rs 1,299 crore, compared to Rs 3,664 crore in the same period last year.
IBNS•May 17, 2024
Wipro’s Chief Operating Officer Amit Choudhary resigns, Sanjeev Jain to replace him
Mumbai: Indian IT services firm Wipro’s Chief Operating Officer Amit Choudhary has resigned to pursue opportunities outside the organization, according to an exchange filing by the company.
IBNS•May 17, 2024
Bandhan Bank Q4FY24 net profit falls 94% to Rs 54.63 cr on higher provisioning, NII up 16% YoY; dividend declared
Mumbai: Private sector lender Bandhan Bank reported a steep decline of over 93 percent in its net profit, which fell to Rs 54.63 crore in the January-March quarter (Q4) of the financial year 2023-24, compared to Rs 808.29 crore in the same period of the previous fiscal year, 2022-23.
IBNS•May 17, 2024
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