Finance

IOC Q4FY24 standalone net profit falls 52% to Rs 4,838 cr

New Delhi: Public sector undertaking Indian Oil Corporation (IOC) reported a standalone net profit of Rs 4,838 crore, a decline of 52% for the quarter ending in March.

Adani Total Gas Q4FY24 net profit jumps 71% to Rs 168 cr

Ahmedabad: Adani Total Gas on Tuesday reported a notable rise of 71% in its consolidated net profit for the fourth quarter of the financial year 2023-24 to Rs 167.96 crore compared to Rs 97.91 crore the previous year.

IMF revises India's FY25 GDP growth by 30 bps to 6.8% on buoyant domestic demand

New Delhi: The International Monetary Fund (IMF) revised India's GDP growth projection for 2024-25 upward by 30 basis points to 6.8% in its update to the World Economic Outlook (WEO) on the back of buoyant domestic demand in the country.

TAC Security appointed as cybersecurity assessor for Microsoft & Meta-led App Defense Alliance

Mumbai: Cybersecurity company TAC Security has been appointed as a key Cyber Security Assessor for the app Defense Alliance (ADA).

Central Bank of India Q4FY24: Net profit jumps 41% to Rs 807 cr

Mumbai: The Central Bank of India reported a 41.33% jump in Q4FY24 net profit to Rs 807 crore for the quarter and by 61.13% to Rs 2,549 crore for the fiscal year.

UCO Bank Q4FY24: PAT down 9.5% YoY to Rs 526 cr due to higher provisioning

Kolkata: Public sector lender UCO Bank reported a 9.5% decrease in year-on-year net profit for the March quarter, totaling Rs 526 crore, primarily attributed to increased operating expenses, compared to the net profit of Rs 581 crore in the corresponding period last year.

Tesla lays off more senior executives weeks after reducing 10 percent global workforce

Elon Musk's Tesla is laying off more employees and it includes senior executives and long-time veterans of the company, media reports said.

India's GDP growth may cross 7 percent this year, says NCAER in its Monthly Economic Review for April

The National Council of Applied Economic Research (NCAER) on Monday said the Indian economy can attain growth rates higher than 7 per cent during the current fiscal year.

Indian Market: Sensex jumps 941.12 points

The BSE Sensex on Monday posted massive gains of 941.12 points to close strong at 74671.28 following the gains of Bankex, Oil and Gas, Financial Services, and Utilities stocks.

Goa Shipyard Limited signs MoU with Netherlands-based Damen Shipyards in field of e-Tugs

The Indian Defence Ministry’s Goa Shipyard Limited signed a Memorandum of Understanding (MoU) with Damen Shipyards for collaboration in the sector of e-Tugs.

Lavender and Gospel: Israeli armed forces opened AI arsenal to destroy thousands of Hamas operatives

The Israeli military used advanced artificial intelligence (AI) systems, named Lavender and Gospel, in its bombing operations in Gaza, reports suggest.

After postponing visit to India, Tesla CEO Elon Musk heads to China

Tesla CEO Elon Musk is on a surprise visit to China, the second-largest market for the electric vehicle titan, media reports said.

AdaniConneX sets benchmark with construction financing framework of USD 1.44 billion

Ahmedabad: AdaniConneX, a 50:50 JV between Adani Enterprises and EdgeConneX, has established India’s largest sustainability-linked financing to raise up to USD 1.44 billion.

Centre allows export of 99,150 MT of onion to 6 neighbouring countries

New Delhi: The Centre has allowed the export of 99,150 MT of onion to six neighbouring countries—Bangladesh, UAE, Bhutan, Bahrain, Mauritius and Sri Lanka.

India’s premium-quality basmati rice up 22% till Feb 2024

New Delhi: India’s exports of premium-quality basmati rice saw a rise of 22 percent, reaching a total value of $5.2 billion from April 2023 to February 2024, propelled by strong demand, particularly from West Asia, a media report said.

Small Finance Banks can now apply to become as universal banks under the on-tap licesning norms: RBI

Mumbai: The Reserve Bank of India (RBI) on Friday said that small finance banks (SFBs) meeting certain criteria can now seek approval from the regulator to transition into universal banks under the on-tap licesning norms.

Difference Between Demat and Trading Account

SBI Cards Q4FY24 net profit grows 11% YoY to Rs 662.37 cr

Mumbai: SBI Cards and Payment Services on Friday reported a net profit increase of 11.05 percent to Rs 662.37 crore in the March quarter of the financial year (FY) 2023-24, up from Rs 596.47 crore recorded in the corresponding period last year.

RBI issues new norms for LSPs to facilitate informed decisions by borrowers

Mumbai: The Reserve Bank of India (RBI) on Friday said that lending service providers (LSPs), operating as representatives of banks should disclose all available loan offers to borrowers to facilitate informed decision-making.

Stock market opens in green with Nifty near 22,600

Mumbai/IBNS: The Indian benchmark indices, led by positive cues from global peers, opened in the green on Friday (Apr 26).

Vedanta Ltd Q4FY24 net profit drops 27% YoY to Rs 1,369 cr

Mumbai: Vedanta Ltd, a global diversified natural resources company posted a 27 percent fall in net profit at Rs 1,369 crore for the fourth quarter of FY2023-24.

Swiggy gets shareholders' nod to raise $ 1.2 billion IPO

New Delhi: Bengaluru-based food tech company Swiggy has obtained approval from its shareholders for its upcoming $1.2-billion initial public offering (IPO).

HUL Q4FY24 profit drops 6% YoY to Rs 2,406 cr

Mumbai: Hindustan Unilever Ltd reported a 6% decrease in standalone net profit for the fiscal fourth quarter, amounting to Rs 2,406 crore compared to Rs 2,552 crore in the previous year.

Stock market opens in red, Kotak Mahindra Bank shares plunge 10% on RBI curbs

Mumbai/IBNS: The Indian benchmark indices opened on a negative note on Thursday (Apr 25), following global peers down as a rout in tech stocks dragged the US benchmark indices down after disappointing forecasts by Facebook's parent Meta.

Credit card spending grows 27% YoY to Rs 18.26 trillion in FY24: RBI

Mumbai: Credit card spending increased by 27% year-on-year to Rs 18.26 trillion in the financial year 2023-24 (FY24), up from around Rs 14 trillion in the previous year, according to the latest data from RBI.

Mahindra Tractors crosses milestone by selling 40 lakh tractor units

Mumbai: Mahindra Tractors, a part of the Mahindra Group, has achieved a milestone by selling the brands 40th lakh tractor, inclusive of exports in March 2024.

Reliance Jio surpasses China Mobile as world's largest mobile operator

Mumbai: Reliance Jio, India's leading telecom operator, has surpassed China Mobile to become the world's largest mobile operator in data traffic consumption, media reports said.

DishTV India expects to touch 30 percent market share at the end of current financial year, says CEO Manoj Dobhal

A top official of DTH service provider DishTV India on Wednesday said the company aims to touch 30 percent of customer market share at the end of the current financial year.

PwC India Report: M&A deal grew by 60% to reach $19.6 billion in Q1 2024

Mumbai: The value of merger and acquisition (M&A) deals surged by 60 percent to reach USD 19.6 billion in January-March 2024, while private equity (PE) deal value experienced a slight decline, according to a report from PwC India.

DCB Bank Q4FY24: PAT grows YoY 9% to Rs 156 cr

Mumbai: DCB Bank on Wednesday reported Profit After Tax (PAT) for Q4 FY 2024 at Rs 156 crore, up from Rs 142 crore recorded in the same period of the previous fiscal year, indicating a robust growth of 9%.