Zerodha AMC gets approval; industry veteran Vishal Jain to be the CEO
Mumbai: Zerodha founder Nithin Kamath announced that the discount broker has obtained the necessary regulatory approval to establish an asset management company (AMC).
Finance
Direct tax collections grows 17% to Rs 5.84 lakh cr so far this fiscal
New Delhi: Net direct tax collection in the current fiscal year up to August 10 stood at Rs. 5.84 lakh crore, 17.33% higher than the net collections for the corresponding period of last year.
SEBI enhances disclosure requirements for FPIs
Mumbai: In an effort to enhance transparency, the Securities and Exchange Board of India (Sebi) has introduced stricter disclosure requirements for a specific category of Foreign Portfolio Investors (FPIs).
Nykaa Q1FY24 net profit falls 27% YoY to Rs 3.3 cr, revenue grows 24%
Mumbai: FSN E-Commerce Ventures, the entity behind Nykaa, a prominent beauty and personal care (BPC) company, reported a nearly 27% drop in its profits for Q1FY24 compared to the previous year, amounting to Rs 3.3 crore.
Patanjali Foods Q1FY24 PAT drops 64%
Mumbai: Patanjali Foods Ltd reported a 64 percent drop in its net profit, amounting to Rs 87.75 crore during the first quarter of the current fiscal year the net profit for the same period in the previous year was Rs 241.25 crore.
ONGC Q1FY24 consolidated PAT sours 102% YoY to Rs 17,383 cr
Mumbai: Oil and Natural Gas Corporation Limited (ONGC) on Friday reported a massive 102% increase in its consolidated net profit for the first quarter of the financial year 2023-24.
Indian Market: Sensex drops 363.53 pts
Mumbai: The BSE Sensex on Friday lost another 365.53 pts to settle at 65,322.65 as selling was seen in Health Care, Bankex, Auto and Financial Services stocks amid weak Asian Market.
Max Life Insurance introduces ‘Max Life NIFTY Smallcap Quality Index Fund’
New Delhi: : Max Life Insurance Company Ltd has launched the ‘NIFTY Smallcap Quality Index Fund’ in the ULIP segment. This first Smallcap Index Fund of the Life Insurance industry is based on the NIFTY Smallcap 250 Quality 50 Index that has delivered 22% 10-year CAGR+.
'Global community must find ways to debt restructuring of low-income nations': Nirmala Sitharaman
Mumbai/UNI: Noting that the high debt level of poor countries poses risks to their sustainable development, Union Finance Minister Nirmala Sitharaman said on Friday that the international community must collaborate and find stronger ways to coordinate debt restructuring for low-income and vulnerable middle-income countries facing debt distress.
Sensex falls by over 200 points
Mumbai/UNI: The BSE Sensex on Friday lost further by 226.37 pts to 65,461.81 in opening trade on renewed selling in Auto, Bankex, Capital goods, and Energy stocks.
Unicommerce report reveals strong growth in India's E-commerce landscape for FY-2023
Mumbai/IBNS: Unicommerce, a prominent e-commerce enablement SaaS platform in India, has unveiled its third annual trends report, titled 'India E-commerce Index' 2023.
Air India unveils new global brand logo and aircraft livery
Gurugram/IBNS: Air India, a Tata Group-owned airline, Thursday unveiled a modern new brand identity and new aircraft livery that capture the essence of a bold new India, marking a milestone in its Vihaan.
JSW Steel consoldated
Kolkata: JSW Steel on Thursday reported consolidated crude steel production for July at 20.39 lakh tonnes, up 12% YoY against 18.25 lakh tonnes in the corresponding month in 2022.
SBI Card enables RuPay Credit Cards on UPI
New Delhi: SBI Card, India’s largest pure-play credit card issuer, and National Payments Corporation of India (NPCI) have announced the linking of SBI credit cards on the RuPay platform with UPI.
RBI’s policy hawkish to the rising inflationary risks: HDFC treasury research
Mumbai: The RBI kept its policy rate unchanged at 6.5% in line with expectations. Moreover, it continued with its stance of “withdrawal of accommodation” with a 5:1 vote.
RBI maintains status quo, policy repo rate unchanged at 6.50%
Mumbai/UNI: As widely expected by economists and market watchers, Reserve Bank of India (RBI) on Thursday kept the policy repo rate unchanged at 6.50%.
Ola reports Rs 1,970.42 cr consolidated revenue in Q1FY24; loss widens 32% YoY to Rs Rs 1,522 cr
Mumbai: Ola, owned by ANI Technologies reported a substantial increase in consolidated revenue to Rs 1,970.42 crore in Q1FY24, marking a nearly 100 percent year-on-year (YoY) growth, Moneycontrol reported citing a filing with the Registrar of Companies (RoC).
India's coal consumption witnesses massive increase in last four decades
New Delhi: India’s coal consumption has witnessed a massive growth of around 753% surge from 130.73 MT in 1983-84 to 1115.02 MT in the year 2022-23, Coal Minister Pralhad Joshi informed Lok Sabha on Wednesday.
Okta forays into Indian market as part of its Asia Pacific expansion plan
Bengaluru: Okta, the leading independent identity provider, on Wednesday announced the opening of an office in India as part of its ongoing commitment to driving secure digital transformation across Asia Pacific and worldclass customer support.
Centre to offload 50 LMT of wheat and 25 LMT of rice in open market
New Delhi: Food Corporation of India (FCI) will offload 50 lakh metric tonnes (LMT) of wheat and 25 LMT of rice in the open market, the Ministry of Food & Public Distribution said on Wednesday.
Zee Entertainment Q1FY24 PAT drops 97% YoY to Rs 3.9 cr
Mumbai: Zee Entertainment has reported a huge 97 percent decline in year-on-year (YoY) profit after tax (PAT) to Rs 3.9 crore for the first quarter of the fiscal year 2024, citing a weak advertising environment as the primary reason.
SEBI revises timeline for listing securities post IPO
Mumbai: Securities and Exchange Board of India (SEBI) has revised the timeline for listing securities after the conclusion of a public issue, reducing it from the current six working days to three days.
Govt gets selective with dumping duty, rejection rate jumps 43%: Report
New Delhi: As part of India's drive towards self-reliance (Atmanirbhar Bharat), the Finance Ministry is increasingly adopting a discerning approach in applying dumping duties, resulting in a rejection rate of 43 percent since August 2020, TOI reported.
Tata Power Q1FY24 PAT grows 29% YoY to Rs 1,140.97 cr
Mumbai: Tata Power Company Limited (Tata Power) announced a consolidated net profit of Rs 1,140.97 crore for the first quarter of FY 24, a year-on-year growth of 29 percent compared to a consolidated profit of Rs 883.54 crore in the previous year.
Indian Rupee improves 3 paise against USD
Mumbai: The Indian Rupee on Wednesday rose marginally by three paise to close at 82.85 on the selling of US Dollar by bankers and exporters amid a rebounding equity market, dealers at the Foreign Exchange said.
Indian Rupee improves 3 paise against USD
Mumbai: The Indian Rupee on Wednesday rose marginally by three paise to close at 82.85 on the selling of US Dollar by bankers and exporters amid a rebounding equity market, dealers at the Foreign Exchange said.
Sensex recovers 149.31 pts
Mumbai: The BSE Sensex on Wednesday recovered 149.31 pts to close at 65,995.81 on the strength of Metal, Consumer Durable, Oil and Gas and Energy stocks.
Kolkata witnesses 93% YoY surge in used car sales: Report
Kolkata: West Bengal’s capital Kolkata is witnessing a remarkable upswing in the demand for used cars, according to a report by the pre-owned cars buy and sell portal CARS24.
Akasa Air completes one year of commercial ops
Kolkata: Akasa Air on Tuesday completed one year of commercial operations in the Indian skies.
SEBI introduces new mechanism to correct erroneous off-market transfer of securities
Mumbai: Stock market regulator Securities and Exchange Board of India (SEBI) has introduced a new mechanism to rectify incorrect transfers of securities in demat accounts.