UK's Vesuvius group to invest Rs 1,000 cr in India
Kolkata: UK-based engineering manufacturing firm Vesuvius will invest Rs 1,000 crore in India over the next five years.
IBNS•Apr 18, 2024
Finance
Business and financial news
Infosys Q4FY24 net profit jumps 30% YoY to Rs 7,969 cr
Mumbai: India's second-largest IT services company Infosys Ltd surpassed market expectations by reporting a net profit of Rs 7,969 crore for the fourth fiscal quarter, up 30% year-on-year against Rs 6,134 crore in the same period last year. .
IBNS•Apr 18, 2024
Indian bourses close in red amid uncertainty in West Asia; Sensex tanks 450pts, Nifty at 21,995
Mumbai: Indian key stock market indicators concluded the fourth consecutive session in the red under the ongoing uncertainties in West Asia and diminishing expectations of an imminent interest rate reduction by the US Federal Reserve, which dampened investor confidence in India.
IBNS•Apr 18, 2024
Musk's Visit to India Can Be a Game-Changer for the Tech Landscape
Elon Musk's upcoming visit to India on April 21-22 for Tesla and Starlink operations, and meeting with PM Narendra Modi, could turn out to be an important moment for India's tech sector.
IBNS•Apr 18, 2024
Deepak Parekh steps down as HDFC Life's Chairman and Non-Executive Director
Mumbai: Veteran banker Deepak Parekh has resigned from his positions as Chairman and Non-Executive Director of HDFC Life Insurance, the company said in an exchange filing on Thursday.
IBNS•Apr 18, 2024
India now part of global value and supply chains, says CII chief
The biggest game changer in India in the past years has been the steps taken by the government to ensure that the nation is part of the global value chains and supply chains, according to a top industry body official.
IBNS•Apr 18, 2024
India to remain driver for global growth in the foreseeable future, says IMF Executive Director
IMF Executive Director has said India will remain a driver for global growth in the foreseeable future.
IBNS•Apr 18, 2024
Stock Market opens in the green, Nifty near 22,250, Sensex up 290 points
Mumbai/IBNS: Indian benchmark indices opened on a positive note on Thursday (Apr 18) with Nifty near 22,250, shaking off the fading hopes of an early US rate cuts and geopolitical tensions in the Middle East due to the last week's Iranian attack on Israel that continued to weigh on investor sentiment.
IBNS•Apr 17, 2024
Paytm starts migrating its users to PSP banks
Mumbai: One 97 Communications (OCL), the company that operates Paytm, has been granted permission by the National Payments Corporation of India (NPCI) to migrate its users to different banks for UPI transactions.
IBNS•Apr 17, 2024
Premier Energies Photovoltaic Ltd secures export order from Amara Raja Infra for Bangladesh project
Kolkata: Premier Energies Photovoltaic Private Ltd, a wholly owned subsidiary of integrated solar cell and solar module manufacturer Premier Energies Limited (PEL) has secured a 140 megawatt (MW) Solar PV Modules supply export order from Amara Raja Infra Private Limited for an EPC project in Bangladesh.
IBNS•Apr 17, 2024
Vodafone Idea raises Rs 5,400 cr from over 70 anchor investors
Mumbai: Vodafone Idea has garnered Rs 5,400 crore from 74 anchor investors, according to a statement released on Wednesday.
IBNS•Apr 17, 2024
Centre notifies liberalised norms for FDI in space sector
New Delhi: The government on Wednesday notified changes to the foreign direct investment regulations in the space sector, aiming to attract international investors into satellite manufacturing and satellite launch vehicle sectors.
IBNS•Apr 17, 2024
Adani family infuses Rs 8,339 cr in Ambuja Cements, raising stake to 70.3%
Ahmedabad: The Adani family, headed by billionaire Gautam Adani, announced on Wednesday that they have injected Rs 8,339 crore as the main shareholders into their cement subsidiary Ambuja Cements Ltd. by fully participating in the company's warrants program.
IBNS•Apr 17, 2024
Elon Musk likely to announce $2-$3 billion investment for Tesla factory in India
New Delhi: Tesla CEO Elon Musk is set to announce an investment of $2-$3 billion in India, primarily aimed at establishing a new factory, during his upcoming visit to New Delhi to meet with Prime Minister Narendra Modi, Reuters reported, citing sources.
IBNS•Apr 17, 2024
Apple inks JV with CleanMax for 6 rooftop solar projects with 14.4 MW capacity
Bengaluru: iPhone maker Apple has inked a joint venture with renewable energy developer CleanMax to address the issue of greenhouse gas emissions associated with customers using their devices under its Apple 2030 roadmap.
IBNS•Apr 17, 2024
Home Loan Balance Transfer: Unlocking the Path to Savings
In the realm of managing home loan finances, a balance transfer facility emerges as a strategic tool for homeowners seeking to optimize their finances. Through home loan refinancing, you can transfer your outstanding loan amount from the existing lender to a new lender, typically to avail of a lower home loan interest rate.
IBNS•Apr 17, 2024
India eyes to become global nutrition hub
In a bold move to transform its agricultural landscape, India is set on a path to become a Global Nutrition Hub, with a focus on promoting millets as a superfood and bolstering the production of pulses and edible oils. The ambitious plan aims to empower farmers and make agriculture a more lucrative profession.
IBNS•Apr 17, 2024
Stock market holiday: BSE, NSE to remain closed for Ram Navami today
Mumbai/IBNS: The Indian stock market -- the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) -- is closed today (Wednesday, Apr 17) on account of Ram Navami, which is celebrated as the birth anniversary of Lord Ram.
IBNS•Apr 17, 2024
Total number of folios of Indian mutual fund industry doubled in last 5 years to touch 17.79 lakh cr
Mumbai: The total number of folios in the Indian mutual fund industry has nearly doubled in the last five years at 17.79 lakh crore in March 2024, up from 8.97 lakh crore in March 2020 on the back of increasing awareness and a growing interest among retail investors for investing in equities and bonds through the mutual fund route.
IBNS•Apr 16, 2024
Aditya Birla Group aims to bolster its financial arm with new Rs 100 cr app
Mumbai: The Aditya Birla Group is upbeat about a new app the company has developed at a cost of Rs 100 crore with the aim to nearly double its customer base within three years and keep pace with the expected growth in India’s financial services sector, media reports said.
IBNS•Apr 16, 2024
India's FY24 merchandise exports fall by 3% to $437 billion; 5.4% drop in imports helps narrow trade deficit
New Delhi: India's merchandise exports plummeted by 3% to $437 billion in the previous fiscal year, despite a fourth-quarter uptick.
IBNS•Apr 16, 2024
Zee withdraws application for execution of merger with Sony
Mumbai: Zee Entertainment Enterprises Ltd. announced on Tuesday that it has withdrawn its application from the National Company Law Tribunal (NCLT) regarding the execution of its merger with Sony Entertainment Enterprises (Culver Max), the company said in a statement.
IBNS•Apr 16, 2024
IMF raises India's FY25 GDP growth forecast by 30 bps to 6.8%
New Delhi: The International Monetary Fund (IMF) increased its forecast for India's GDP growth in 2024-25 by 30 basis points to 6.8%, it said in an update to the World Economic Outlook (WEO).
IBNS•Apr 16, 2024
RBI conducts 2-day VRRR auctions as liquidity in banking system nears Rs 1 trillion
Mumbai: The Reserve Bank of India on Tuesday held a two-day variable rate reverse repo (VRRR) auction due to the nearing Rs 1 trillion liquidity surplus in the banking system.
IBNS•Apr 16, 2024
Mahindra Group enters hybrid renewable energy sector with Rs 1,200 cr investment
Mumbai: The Mahindra Group announced its entry into the hybrid renewable energy sector with a Rs 1,200 investment in a solar and wind project, a stock exchange filing on Monday.
IBNS•Apr 16, 2024
Jio Financial Services enters into JV with US-based BlackRock for wealth management and broking biz
Mumbai: Jio Financial Services has announced a joint venture with the US-based multinational investment company BlackRock for wealth management and broking operations in India.
IBNS•Apr 16, 2024
Apple in talks with Murugappa Group and Tata's Titan to make camera modules for iPhone in India: Report
Bengaluru: Apple is in talks with the Murugappa Group and Tata Group's Titan Company for manufacturing sub-components for iPhone camera modules, media reports said.
IBNS•Apr 16, 2024
Motorola Solutions unveils new Experience Centre in Gurugram
Tech major Motorola Solutions on Monday opened its new Experience Center in Gurugram, India, showcasing how its safety and security ecosystem can support India’s public safety and enterprise security sectors.
IBNS•Apr 16, 2024
Mahindra launches Bolero Neo Plus, check out the price now
SUV manufacturing major Mahindra & Mahindra Ltd. on Tuesday unveiled the Bolero Neo+ 9-seater, offered in two variants—the P4 and the premium P10.
IBNS•Apr 16, 2024
Ramkrishna Forgings Limited bags INR 270 crores order for Vande Bharat trains
Ramkrishna Forgings Limited, a supplier of rolled, forged, and machined products, on Monday announced it received an order valued at INR 270 crores for Vande Bharat trains.
IBNS•Apr 16, 2024
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