Indian stock markets open higher on global optimism; Nifty maintains narrow range amid technical indicators
Mumbai: Domestic benchmark indices opened higher on Friday, buoyed by strong global cues.
Finance
Cipla Q4FY24: Net profit grows 79% YoY to Rs 939 cr
Mumbai: Pharma giant Cipla’s consolidated net profit grew 79% rising to Rs 939.04 crore in Q4 FY24 over Q4 FY23.
Bank of Baroda Q4FY24 net profit up 2.3% YoY to Rs 4,886.49 cr; NII up 2.3% to Rs 11,793 cr
Mumbai: State-run lender Bank of Baroda on Friday said its standalone net profit reached Rs 4,886.49 crore in Q4FY24, up 2.3% compared to Rs 4,775.33 crore in the year-ago period.
JPMorgan says India index inclusion on track, most clients ready: Bloomberg report
Mumbai/IBNS: JPMorgan Chase & Co. is on track to include India in its emerging market debt index from June with most of its clients ready to trade, Bloomberg reported quoting Gloria Kim, the firm’s global head of index research.
Punjab National Bank Q4FY24 PAT soars 160% YoY to Rs 3,010; NII grows 9% YoY to Rs 10,363 cr
New Delhi: Public sector lender Punjab National Bank (PNB) Thursday reported an impressive growth in net profit 159.8% YoY in its net profit to Rs 3,010.27 crore in Q4FY24 from Rs 1,159 crore in Q4 FY23.
Tesla continues to cut jobs in China as part of its global workforce reduction: Report
Beijing: Tesla has increased job cuts in China as billionaire Elon Musk struggles to recover lost market share in the world’s biggest auto market, reported Bloomberg.
India’s Technical Textiles market has huge potential backed by a significant growth rate of 10%: Textiles Secretary
New Delhi: India’s Technical Textiles market has a huge potential backed by a significant growth rate of 10% and placement as the 5th largest technical textiles market in the world, said Rachna Shah, Secretary, Ministry of Textiles while addressing a symposium on Thursday.
Bharat Petroleum reports highest ever net profit in FY24 at Rs. 26,673.50 cr
Mumbai: Bharat Petroleum posted the highest ever standalone net profit of Rs. 26,673.50 crores in FY24 as compared to the profit of Rs 1,870.10 crores in FY 22-23.
NPCI may defer market cap restriction for UPI platforms for 2 yrs: Report
New Delhi: The National Payments Corporation of India (NPCI), responsible for managing the Unified Payments Interface (UPI), is likely to limit market share for digital payment platforms two years later, according to Reuters.
SBI Q4FY24: PAT grows 24% YoY to Rs 20,698 cr; NII grows 19% to Rs 1.11 lakh cr
Mumbai: India’s largest lest lender State Bank of India (SBI) on Thursday reported net profit of Rs 20,698 crore, marking a 24 percent year-on-year increase for the fourth quarter of FY 24.
Bank of Baroda's shares rise over 3% after RBI lifts restrictions on onboarding of new customers via 'BOB World' app
Mumbai/IBNS: The Reserve Bank of India (RBI) has allowed Bank of Baroda (BOB) to onboard customers via its 'BOB World' mobile application, following which shares of the public sector bank surged 3.4 percent to Rs 271 per share on Thursday (May 9).
Bridgestone India unveils Dueler All-Terrain 002 tyre
Kolkata: Bridgestone India has launched the Dueler All-Terrain (A/T) 002 tyre with enhance grip and stability.
China's gold-buying spree triggers global price surge
Gold's value has historically surged during geopolitical and economic upheavals, and recent events like Russia's invasion of Ukraine and the conflict in Gaza have further boosted its price.
Sixteenth Finance Commission invites suggestions from general public
New Delhi: The Sixteenth Finance Commission has invited suggestions and views from the public, organizations, and individuals regarding its terms of reference and overall approach.
TVS SCS wins new business deal for Eicher’s bus facility in Madhya Pradesh
New Delhi: TVS Supply Chain Solutions Limited (NSE: TVSSCS, BOM: 543965), a global supply chain solutions provider and one of the largest, has won a new business contract from VE Commercial Vehicles (VECV) for managing their in-plant warehousing and logistics function at their Eicher bus factory located in Baggad, Madhya Pradesh.
Godrej Agrovet Q4FY24 results: Consolidated net profit jumps to Rs 65.48 cr, revenue improves by 1.8%
Mumbai: Godrej Agrovet, a leading player in the agricultural and animal feed industry, reported a significant improvement in its consolidated net profit jumped to Rs 65.48 crore in the March 2024 quarter from Rs 23.47 crore a year ago.
Indian Coast Guard partners with Jindal Steel & Power to boost indigenous shipbuilding with marine grade steel
New Delhi: The Indian Coast Guard (ICG) and Jindal Steel & Power (JSP) signed a Memorandum of Understanding (MoU) on Tuesday in New Delhi for the supply of indigenous marine-grade steel to enhance the indigenous content in shipbuilding.
RBI asks NBCs to disburse cash loans only up to Rs 20,000: Report
Mumbai: The Reserve Bank of India (RBI) cautioned non-bank finance companies (NBFC) on Wednesday, advising them against providing cash loans exceeding the permitted threshold of Rs 20,000 ($240), media reported.
National Statistical Commission to be revived as govt appoints two new members
New Delhi: The National Statistical Commission (NSC), which has been inactive for a year, is gearing up for operation with the appointment of all five members, media reports said.
India poised for higher GDP growth based on domestic strengths, says Chief Economic Advisor
New Delhi/IBNS: With supply-side investments on both physical and digital infrastructure, Indian economy is better placed to pursue non-inflationary growth and could achieve a GDP growth rate of above 7% this year, based on its domestic strengths, Chief Economic Advisor to the Government Dr V Anantha Nageswaran said on Wednesday.
Hero MotoCorp Q4FY24 profit grows 18% YoY to Rs Rs 1,016 cr
Mumbai: Hero MotoCorp on Wednesday announced an 18 percent increase in net profit, reaching Rs 1,016 crore for the quarter ending on March 31, 2024.
Canara Bank FY24 March qtr profit surges 18% YoY to Rs 3,757 cr; Rs 16.10 per equity share dividend declared
Mumbai: Canara Bank reported a robust performance for the March quarter, with standalone net profit increasing by 18.33% year-on-year to Rs 3,757.23 crore, compared to Rs 3,174.74 crore in the same quarter last year.
CCI approves acquisition of additional shares in Sikkim Urja Ltd by Greenko Energies
New Delhi: The Competition Commission of India (CCI) has approved the acquisition of additional shares in Sikkim Urja Limited (formerly Teesta Urja Limited) by Greenko Energies Private Limited, the anti-trust watchdog said in a press release on Tuesday.
JSW Energy Q4FY24 PAT frows 29% to Rs 351 cr
New Delhi: Private sector power producer JSW Energy recorded a 29% surge in profit after tax (PAT) on account of the company's owners for the March quarter, primarily due to reduced tax expenses.
Ghost malls witness a 59% year-on-year rise in India
New Delhi: Ghost malls, which derive their name from their high vacancy rates of over 40%, surged by 59% to reach 13.3 million square feet (msf) in 2023 compared to the previous year, according to a report released on Tuesday.
Dr Reddy’s Lab Q4FY24 net profit up 36% YoY to Rs 1,307 cr
Mumbai: Hyderabad-based pharma major Dr Reddy’s Laboratories recorded a net profit of Rs 1,307 crore in the March quarter of FY24, up 36 percent from the same period last year when it reported a profit of Rs 960 crore.
Stock market update: Sensex drops 380 points, Nifty hovers just above 22,300 mark
Mumbai: The Indian stock market benchmarks Nifty 50 and Sensex closed in negative territory on Tuesday despite positive global cues, experiencing a widespread selloff.
India's April oil consumption rises by 6% YoY: Oil Ministry
New Delhi: India witnessed a 6.1 percent year-on-year increase in fuel consumption, according to data released by the Petroleum Planning and Analysis Cell of the Oil Ministry.
Paytm CBOs Bipin Kaul, Ajay Singh resign as company takes up restructuring: Report
Noida: Ahead of Paytm’s announcement of its yearly and fourth-quarter financial results later this month, two senior officials have stepped down, adding to a growing trend of top-level departures at the Noida-based mobile payments company, media reported.
Sebi rejects NSE's market trading hour extension proposal citing lack of consensus
Mumbai/IBNS: The Securities and Exchange Board of India (Sebi) has rejected the proposal of the National Stock Exchange (NSE) to extend the trading hours due to a lack of consensus among stockbrokers, reports said.