Finance

Sensex surges 454.67 pts at closing, Nifty above 21900

The BSE Sensex on Tuesday rallied 454.67 pts to close high at 72,186.09 on the strength of Oil and Gas, IT, Telecommunications and Energy stocks.

Tech industry slashes 32000 jobs since January

Tech industries are witnessing another wave of layoffs in 2024 continuing the trend which was witnessed late last year.

A visionary stride for women-led development in India’s 2024 budget

Indian Finance Minister Nirmala Sitharaman has offered a progressive vision for the nation’s women through the interim budget which prioritized empowering women ("Nari Shakti") through entrepreneurship, making their lives easier, and ensuring their dignity.

Adani Group to invest $1.2 billion to build largest copper manufacturing plant in Gujarat's Mundra

Vadodara: Billionaire Gautam Adani-led ports-to-power conglomerate Adani Group is constructing the world's largest copper manufacturing plant in Mundra, Gujarat at an investment of $1.2 billion, media reports said.

Ola Electric to install 10,000 fast charging points by next quarter

Ola Electric has announced plans to ramp up its fast-charging network rapidly to 10,000 points by next quarter.

AI has changed skilled jobs and hiring new recruits: Nirmala Sithraman

New Delhi: Artificial Intelligence (AI) has disrupted the requirement for skilled jobs and hiring equally, apart from the current situation of global economic slowdown, Finance Minister Nirmala Sitharaman told Network18 Editor-in-Chief Rahul Joshi in an interview.

Jana Small Finance Bank IPO of Rs 570 cr

Mumbai: Jana Small Finance Bank will launch an initial public offer (IPO) on February 7.

Comparing mutual fund returns with a mutual fund calculator

Most banks and financial institutions host online mutual fund calculators on their sites to help investors calculate their mutual fund returns online. Investors can use mutual fund calculators to assess their investment strategies by checking if their expected returns match the returns calculated by the calculator.

State Bank of India Q3FY24: Net profit declines 35%YoY to Rs 9,164 cr; NII grows 4.59%

Mumbai: Public sector lender State Bank of India (SBI) reported a net profit of Rs 9,164 crores, down 35.49% year-on-year compared to Rs 14,205 crores.

Rashi Peripherals Ltd to launch Rs 6,000 million IPO on Feb 7

Tata Motors Q3FY24 net profit grows to Rs 7,100 cr

Mumbai: Tata Motors Limited (TML) reported a profit before tax improved by Rs 4,400 crore, reaching Rs 7,600 crore, and the net profit for the quarter was Rs 7,100 crore.

Govt open to divesting stake in SBI, ONGC: Nirmala Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman on Friday stated that the government is open to the concept of disinvesting equity stakes in prominent Public Sector Undertakings (PSUs), including the likes of State Bank of India (SBI) and Oil and Natural Gas Corp (ONGC).

IndiGo Q3FY24 net profit jumps to Rs 29,981 million

Gurgaon, February 2, 2024: InterGlobe Aviation Ltd, the parent company of India's largest airline IndiGo reported a net profit of Rs 29,981 million for the quarter that ended December 2023, compared to Rs 1,418 crore in the year-ago period.

Reasons for RBI's crackdown on Paytm Payments Bank: Report

Mumbai: The Reserve Bank of India (RBI) started a major crackdown on Paytm Payments Bank, citing complete neglect by the company for regulatory standards and compliance requirements, media reports said.

Sensex, Nifty ends in green as market closes

The BSE Sensex on Friday posted huge gains of 440.33 pts to close high at 72,085.63 on the strength of oil and gas, metal, and IT stocks.

'Growth, welfarism and fiscal restraint': NSE MD on Interim Budget

The Interim Budget FY25 presented by Finance Minister Nirmala Sitharaman focused on growth, welfarism and fiscal restraint, while ensuring continuity on policies and taxation.

Bandhan Bank appoints Santosh Nair as Head – Consumer Lending & Mortgages

Kolkata: Bandhan Bank appointed Santosh Nair as Head – Consumer Lending & Mortgages, a press release said.

Ambuja Cement Q3FY24 net profit soars 123% YoY to Rs 1090 cr

Mumbai: Ambuja Cement, owned by Gautam Adani, reported a 123 percent increase in consolidated net profit for the December quarter, reaching Rs 1,089.55 crore compared to Rs 487.88 crore the previous year. This surge was attributed to price hikes and strong demand for building materials.

DIPAM Secretary explains why Budget FY25 has no fixed disinvestment target

New Delhi: Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey on Thursday said the government has intentionally not set up a specific disinvestment target for the fiscal year 2024-25, media reports said.

Anand Mahindra praises Interim Budget, lauds Nirmala Sitharaman for high tax-GDP ratio

Mumbai: Mahindra Group Chairman Anand Mahindra took to social media to laud the Interim Budget presented by Finance Minister Nirmala Sitharaman on Thursday.

Over 95% of Rs 2,000 currency notes back in banking system: RBI

Mumbai: Over 95 percent of the Rs 2,000 currency notes in circulation as of May 19, 2023, are back in the banking system, the Reserve Bank of India (RBI) said on Thursday.

Adani Enterprises Q3FY24 net profit more than doubles to Rs 1888 cr

Mumbai: Adani Enterprises Ltd. reported a massive surge in net profit in the quarter ended December 2023 profit, more than doubling 2.3 times to Rs 1888.4 crore, driven by the success of its newer business ventures.

Interim Budget 2024-25: Govt raises Capex allocation to Rs 11.1 lakh cr

New Delhi: Finance Minister Nirmal Sitharaman announced an allocation of Rs 11.1 lakh crore as capital expenditure for the next fiscal year in the Interim Budget FY-25, emphasising the continuation of India’s focus on infrastructure development.

FM Nirmala Sitharaman presents Interim Budget 2024-25: Industry reacts

New Delhi: Finance Minister Nirmala Sitharaman on Thursday said India's economy is undergoing a profound shift as she presented the final budget of the Narendra Modi government before the Lok Sabha polls scheduled for May. Emphasising the government's commitment, Sitharaman highlighted a focus on enhancing conditions for marginalised groups, including the poor, women, youth, and farmers, laying the groundwork for forthcoming welfare schemes in these sectors during her Budget 2024 address.

PM Modi calls Budget 2024 'innovative and inclusive'

New Delhi/UNI: Prime Minister Narendra Modi on Thursday termed the Union interim budget 2024–25 as "innovative and inclusive" and said it will empower all sections of society.

Sitharaman's Interim Budget 2024: No change in tax rates, focus stays on capex

New Delhi/UNI: Presenting the interim budget for 2024-25, Union Finance Minister Nirmala Sitharaman on Thursday kept the tax rates unchanged and continued to focus on public spending to boost growth.

Budget 2024: Next five years to see unprecedented development, says Nirmala Sitharaman

New Delhi/UNI: Union Finance Minister Nirmala Sitharaman on Thursday said the next five years will be years of unprecedented development to realise the goal of India becoming a developed country by 2047.

Sitharaman proposes housing scheme for 'deserving' section of middle class

New Delhi/UNI: Finance Minister Nirmala Sitharaman on Thursday proposed to launch a scheme for 'deserving' sections of the middle class to help them buy or build their own houses.

Projecting a Modi return, FM Sitharaman presents poll-bound 'no disruption' unchanged tax rate Interim Budget, estimates fiscal deficit at 5.1% of GDP

Exuding confidence that the Modi government will return to power in 2024, Union Finance Minister Nirmala Sitharaman presented an interim "national election year" budget of "no disruption" keeping tax slabs unchanged, focusing on inclusivity, continued economic reforms and listing the achievements of the NDA in the past ten years while refraining from any new populist announcement.

Sensex opens in green ahead of Interim Budget presentation

The BSE Sensex on Thursday rallied 246 points to open at 71,998.78, ahead of the general budget.