Business and financial news
New Delhi: India should intensify manufacturing activities to increase its share in global value chains and attain self-reliance aided by government policies, Finance Minister Nirmala Sitharaman said on Friday.
New Delhi: The Delhi High Court on Friday reversed its previous decision that upheld the arbitral award favouring Kalanithi Maran over low-cost airline SpiceJet, bringing relief to the financially struggling carrier.
Kolkata: Solar module manufacturer Vikram Solar has secured a landmark 397.7 MWp module supply order for NTPC Renewable Energy Limited.
Mumbai: Reliance Retail has announced a long-term partnership with ASOS, the UK-based premier online fashion retailer catering to people in their twenties.
Mumbai: Nifty opened flat on Friday in line with global cues. After an initial knee-jerk reaction, the index traded in the positive zone and settled at 22,466 levels.
Tata-owned aviation major Air India has announced its partnership with MedAire, an aviation medical support provider, to ensure emergency healthcare services to its passengers and crew on board its flights.
The global economic picture has improved since January, but vulnerabilities remain, the mid-year update of the World Economic Situation and Prospects report published on Thursday has revealed.
New Delhi: Indian software firm Zoho is considering venturing into chipmaking and is seeking incentives from the central government, Reuters reported citing two sources familiar with the proposal.
New Delhi: Vodafone Idea, a leading private sector telecom company with a government stake of 32.2%, recorded a loss of Rs 76,746 million (Rs 7,674.6 crore) in the fourth quarter of the financial year 2023-24, compared to Rs 64,189 million (Rs 6,418.9 crore) in the same period of 2022-23.
Mumbai: Motherson Sumi Wiring India announced a 38% increase in fourth-quarter profit on Thursday, attributed to robust demand in the automotive sector.
Bengaluru/Naini: ITI Limited, the country’s first PSU post-independence and premier telecom manufacturing company has received LoIs worth Rs. 37.5 Crores from Bihar Renewable Energy Development Authority (BREDA) for the installation of Solar Street light Systems.
Indian fintech major PhonePe on Wednesday it has enabled UPI payment acceptance in collaboration with LankaPay across LankaQR merchant points.
New Delhi/IBNS: India registered record exports in the just concluded fiscal year 2023-24 at USD 778 billion, ANI reported, citing sources in the commerce ministry.
Mumbai/IBNS: American private investment firm Bain Capital and Singapore-based Temasek have partnered to compete with Blackstone-led consortium for a majority stake in Haldiram Snacks Food, potentially India's largest private equity purchase to date, reports Economic Times.
Kolkata: Shyam Metalics has reported a Consolidated Profit After Tax of Rs. 220 crores for Q4FY24 against Rs. 126 crores for Q3FY24. Further, the Consolidated Profit After Tax for FY24 was Rs. 1,029 crores against Rs. 843 crores for FY23.
New Delhi: Power Finance Corporation (PFC) on Wednesday announced a consolidated net profit of Rs 7,556 crore for the fourth quarter of FY24, an over 23 percent year-on-year (Y-o-Y) jump.
Washington: US inflation showed signs of easing as the growth was less than anticipated, indicating a continuation of its downward trajectory at the beginning of the second quarter.
Mumbai: HDFC Life Insurance on Wednesday declared its highest-ever bonus of Rs 3,722 crore on participating plans to nearly 22.23 lakh policyholders.
Mumbai: The promoters of Cipla have sold a 2.53% stake in the company for 'creating liquidity' for specific needs including 'philanthropy', the Mumbai headquartered pharma major said on Wednesday.
Mumbai: The domestic benchmark indices opened positively on Wednesday, driven by strong global cues.
New Delhi: India saw a significant increase of 34.11% in palm oil imports in April, reaching 684,000 tonnes, according to the Solvent Extractors' Association of India (SEA).
Mumbai: The State Bank of India (SBI) has hiked rates of its fixed deposit interest for specific tenures on retail deposits, up to Rs 2 crore, and bulk deposits, above Rs 2 crore.
Mumbai: A consortium led by Blackstone, the Abu Dhabi Investment Authority (ADIA) and Singapore's GIC has submitted a non-binding bid to acquire a controlling stake in Haldiram Snacks Food Pvt Ltd (HSFPL), one of India's largest snack and convenience foods companies, reported the Economic Times.
Mumbai: Integrated electrical services company Rulka Electricals Ltd will launch its initial public offering (IPO) will open on Thursday, May 16, 2024.
Mumbai: Patanjali Foods, co-founded by Yoga guru Baba Ramdev and Acharya Balkrishna, reported a 22% drop in fourth-quarter profit on Tuesday, mainly due to weak demand that hurt overall sales in its core edible oils business and rising expenses.
Mumbai: The CBI has arrested former DHFL Director Dheeraj Wadhawan for allegedly defrauding a 17-member bank consortium of Rs 34,000 crore, media reported, citing officials.
Kolkata: AJAX Engineering, India's premier concreting equipment manufacturer, becomes the country’s first manufacturer to export Slip-form Pavers, a specialised heavy concrete equipment utilised primarily in large scale infrastructure projects for the efficient and precise laying of concrete.
Islamabad: Debt-ridden Pakistan has decided to privatise all state-run enterprises, except strategic ones, broadening its earlier decision to offload stakes only in loss-making companies, media reports said.
Mumbai: Zomato, which reported a net profit of Rs 175 crore for the January-March period (Q4FY24) on Tuesday, marked a significant turnaround from the net loss of Rs 188 crore in the same quarter the previous year.
Kolkata: Emphasising the goal of 'Viksit Bharat' (developed India) by 2047, as envisioned by Prime Minister Narendra Modi, External Affairs Minister S Jaishankar on Tuesday urged business associations to partner with the government to ensure the revival of the country's manufacturing sector with the target of surpassing the USD 30 trillion.
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