Business and financial news
New Delhi/IBNS: The Union Ministry of Finance (MoF) on Monday (Oct. 29) highlighted emerging challenges in the Indian economy, including weakening consumer sentiment and declining urban demand, along with a slowdown in industrial activity.
New Delhi/IBNS: Apple's iPhone exports from India surged by a third in the six months leading up to September, highlighting the company's strategic shift to expand its manufacturing footprint in India and reduce reliance on China, reports Bloomberg.
New Delhi: Amazon India said on Monday that it has entered into an initial agreement with state-owned Hindustan Petroleum Corporation Ltd (HPCL) to drive the development and adoption of Low Carbon Fuels (LCFs) for long-haul transport in India.
New Delhi: Amazon India said on Monday that it has entered into an initial agreement with state-owned Hindustan Petroleum Corporation Ltd (HPCL) to drive the development and adoption of Low Carbon Fuels (LCFs) for long-haul transport in India.
Mumbai: Private sector lender Federal Bank reported an 11 percent year-on-year rise in net profit, reaching Rs 1,057 crore for the September quarter, up from Rs 954 crore.
New Delhi: Competitive debt financing is more advantageous than grants and is a strategic tool for advancing renewable energy projects, according to Chairman and Managing Director of Indian Renewable Energy Development Agency Limited (IREDA) Pradip Kumar Das.
Mumbai: Suzlon Energy reported a 95.71% increase in consolidated net profit attributable to its owners, driven by higher revenue and a robust order inflow for the quarter ending September 30, 2024 (Q2FY25).
Gurugram: Tata Group-owned Air India has received the Design Organisation Approval (DOA) from the Directorate General of Civil Aviation (DGCA) designated as CAR 21 approval, the airline said in a press release.
Mumbai: NTPC Green Energy Ltd, a subsidiary of NTPC Ltd, has received SEBI's final approval to raise Rs 10,000 crore through an initial public offering (IPO).
New Delhi/IBNS: The Central Board of Direct Taxes (CBDT) announced an extension for corporate income tax return filing for the Assessment Year (AY) 2024-25.
Mumbai: Afcons Infrastructure Ltd, the flagship engineering and construction firm of Shapoorji Pallonji Group, made its stock market debut today.
Mumbai: Bank of Baroda (BoB) reported a 23.2% year-on-year (YoY) increase in net profit for the second quarter of FY2024-25, reaching Rs 5,238 crore, driven by higher non-interest income and reduced provisions for stressed loans, media reports said.
Gurugram: IndiGo reported a loss of Rs 987 crore for the second quarter ending September 2024, slipping back into the red after posting a profit of Rs 189 crore in the same quarter last year and Rs 2,728 crore in the previous June quarter, media reports said.
Mumbai: JSW Steel Ltd Friday reported an 85% year-on-year decline in consolidated net profit for the quarter ended September 30, 2024, at Rs 404 crore, impacted by a rise in imports of cheaper finished steel that pushed domestic prices to three-year lows, media reports said.
Mumbai: Silver prices recently reached unprecedented levels, with December futures crossing the Rs 1,00,000 per kilogram mark on the Multi Commodity Exchange (MCX) for the first time.
Mumbai: Infrastructure major Larsen & Toubro (L&T) announced on Friday that it has secured a contract to implement advanced welding technologies for the ITER Organisation's nuclear fusion project, the largest in the world, located in Cadarache, Southern France.
Mumbai: Bharat Petroleum Corporation Limited (BPCL) reported a 72% year-on-year decline in consolidated net profit for Q2 FY2024-25, standing at Rs 2,297 crore due to reduced refining margins and lower crack spreads, according to a Moneycontrol report.
Mumbai: IDBI Bank reported a significant increase in its net profit, which surged by 39% to Rs 1,836 crore compared to Rs 1,323 crore in Q2 FY24.
The Indian equity market continued its fall for the gift consecutive session with the BSE Sensex touching 79,402.29 after crashing 662.87 pts on Friday.
Mumbai: Google-owned YouTube announced on Friday that it would expand its shopping feature in India by launching the YouTube Shopping affiliate programme, media reports said.
The Centre on Friday announced the limit of Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) has been enhanced from current Rs. 10 lakh to Rs. 20 lakh.
New Delhi/IBNS: Godrej Properties announced on Friday (Oct. 25) that it has emerged as the highest bidder for a prime luxury group housing plot in Gurugram, with a projected revenue potential exceeding Rs 5,500 crore.
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New Delhi: Uber's two- and three-wheeler services, Uber Moto and Uber Auto, are projected to generate up to Rs 36,000 crore in economic activity in India in 2024, according to the company's 2024 India Economic Impact report.
Virginia/IBNS: Boeing factory workers voted on Wednesday (Oct. 23) to reject a new contract offer, extending their strike, which has now lasted over five weeks.
New Delhi/IBNS: The International Monetary Fund (IMF), in its latest "World Economic Outlook" report, has highlighted a notable shift in global manufacturing towards emerging markets like India and China, as advanced economies face declining competitiveness.
Mumbai/IBNS: Jensen Huang, the CEO of American chip maker Nvidia, announced on Thursday (Oct. 24) that the company is collaborating with Reliance Industries to develop artificial intelligence (AI) infrastructure in India.
Mumbai/IBNS: NVIDIA Corporation’s CEO Jensen Huang announced that the company’s advanced Blackwell chips, key to its next-generation GPU architecture, will begin shipping to customers in the fourth quarter of this year.
Mumbai: The Reserve Bank of India (RBI) has approved the appointment of Pranav Chawda as the chief executive officer of JPMorgan Chase & Co.’s local banking unit for a three-year term, Bloomberg reported, citing a statement from the US lender on Wednesday.
New Delhi: The Union finance ministry is expected to decide on scrapping the windfall tax on crude oil, as falling prices have made the levy less relevant, said Prime Minister’s advisor Tarun Kapoor, media reports said.
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