Business and financial news
Mumbai/IBNS: Foreign Portfolio Investors (FPIs) continue to reduce their exposure to Indian equities, extending their selling streak to a 27th consecutive session on Tuesday (Nov. 5).
New York/IBNS: In a historic moment that reverberated through the United States and around the world, Donald J. Trump secured a 2024 presidential victory, marking his return to the White House.
Mumbai/IBNS: The Indian stock market reacted swiftly to news of Donald Trump securing the 2024 United States presidential race, with initial volatility reflecting both caution and opportunity.
New York/IBNS: Donald Trump’s victory in the 2024 US presidential election has sparked immediate reactions across global markets, with investors bracing for the policy shifts expected under his administration.
Mumbai/IBNS: India's leading food ordering and delivery company Swiggy on Wednesday (Nov. 6) launched its Rs 11,327.43 crore initial public offering (IPO), after raising Rs 5,085.02 crore from anchor investors the day prior.
New York/IBNS: Bitcoin on Wednesday (Nov. 6) soared to a new all-time high, surpassing $75,000 after early exit polls from the US presidential election indicated a slight advantage for Republican candidate Donald Trump.
New Delhi/IBNS: The Indian rupee on Wednesday (Nov. 6) hit a record low as preliminary US presidential election results strengthened the dollar and weighed on Asian currencies.
New Delhi: The income tax department has granted tax officials the authority to waive or reduce the interest payable by taxpayers, provided certain conditions are met, media reports said.
Mumbai: Titan Company reported a 23.1% year-on-year decline in net profit for Q2 FY25, attributed to the impact of a customs duty reduction.
Hyderabad: Dr. Reddy's Laboratories, an Indian generic pharmaceutical company, announced on Tuesday that its second-quarter profits were impacted by one-time charges associated with its joint venture with Nestlé India and the acquisition of Nicotinell, reported Reuters
Bhubaneswar: India’s JSW Steel and South Korea’s Posco are set to invest Rs 65,000 crore ($7.73 billion) in a planned steel plant in India over the next few years, Reuters reported.
Kolkata/IBNS: Defence PSU Garden Reach Shipbuilders and Engineers Ltd. (GRSE), which formally stepped into the realm of constructing ‘Next Generation’ combat vessels on Tuesday by laying the keels of two NGOPVs (Next Generation Offshore Patrol Vessels), said they are manufacturing at least 17 warships for the Indian Navy besides one for Bangladesh.
Mukilteo (US) : Boeing's factory workers on the U.S. West Coast agreed to a new contract on Monday, concluding a seven-week strike that had stalled jet production and worsened the financial situation for the struggling planemaker, Reuters reported.
New Delhi/IBNS: Muralikrishnan B, President of Xiaomi India, has stepped down as the company seeks to reclaim its top position in India’s smartphone market, according to Moneycontrol.
New Delhi/IBNS: Shreyas Srinivasan on Monday (Nov. 4) resigned as Chief Product Officer and Head of Consumer Products at Paytm, following the sale of Paytm’s entertainment and live ticketing platform, Insider.in, to the food-delivery giant Zomato.
Mumbai/IBNS: Reliance Industries Ltd. (RIL) plans to take Jio Platforms Ltd., its telecommunications subsidiary, public in 2025, Reuters reported, citing sources familiar with the matter.
Mumbai/IBNS: Noel Tata has been appointed to the board of Tata Sons, the holding company of the Tata Group, as a representative of Tata Trusts, following his recent elevation to Trusts chairman after Ratan Tata’s death, reports the Economic Times (ET).
Mumbai/IBNS: India's diesel market is showing signs of a slowdown as demand growth loses steam, raising concerns for the world's third-largest oil importer, reports Bloomberg.
Automobile major Mahindra is set to introduce two pioneering electric brands, XEV and BE (pronounced be), on the Electric Origin INGLO architecture, at the Unlimit India World Premiere on November 26 in Chennai.
Mumbai/IBNS: Foreign investors offloaded approximately Rs 94,000 crore ($11.2 billion) worth of Indian stocks in October, marking the worst monthly outflow to date, driven by India's high stock valuations and more attractive pricing in China, as per NSDL data.
Hyderabad/IBNS: Leading food and grocery delivery platform Swiggy has been fined Rs 35,000 for allegedly inflating delivery distances to overcharge customers.
Mumbai/IBNS: Swiggy, the leading food and grocery delivery platform, is gearing up for its stock market debut with the launch of its Initial Public Offering (IPO) next week.
Beijing/IBNS: Oil prices saw further gains on Monday (Nov. 4), climbing more than $1 following OPEC+'s decision to delay a planned production increase by a month.
California/IBNS: During an earnings call this week, Google CEO Sundar Pichai conveyed confidence in the company’s legal stance while underscoring its commitment to broad accessibility for its products.
Mumbai/IBNS: Afcons Infrastructure shares rose by 8.9 percent to Rs 463.9 on the NSE following a weak market debut earlier this week.
California/IBNS: Apple has acquired Pixelmator, the Lithuanian-based company behind popular image editing apps like Pixelmator, Pixelmator Pro, and Photomator.
Dhaka/New Delhi/IBNS: Adani Power Jharkhand Limited (APJL), a branch of Adani Power, has significantly reduced its electricity supply to Bangladesh due to unpaid bills totaling $846 million, as reported by Bangladesh's The Daily Star on Friday (Nov. 2).
California/IBNS: A US District Court judge in California has ruled that former Twitter executives, including ex-CEO Parag Agrawal, may proceed with a lawsuit against Elon Musk for severance pay, Bloomberg reported on Saturday (Nov. 2).
Mumbai: Google India's profit after tax (PAT) in fiscal year 2023-24 stood at Rs 1,424.9 crore, according to documents released by Tofler on Friday.
Mumbai: Indian automakers Maruti Suzuki India (MSI) and Mahindra & Mahindra (M&M) reported record monthly sales in October, fuelled by festive season demand.
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