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Showing posts from April, 2024

Mahindra & Mahindra becomes revenue leader in SUV category

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The surge in SUVs has made Mahindra & Mahindra one of the biggest gainers in the Indian automotive industry. The company, which till a few years back was struggling to get its act together with previous-gen Scorpio as its only flagship, has staged a turnaround and emerged as the revenue leader in the SUV category, ahead of some of its formidable rivals such as Toyota, Hyundai, Tata Motors, Kia and Maruti Suzuki. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UNGaJER

Increasing global uncertainties may impact demand, India's exports: FIEO

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The escalating geopolitical tension may have implications for the country's exports in the first quarter of 2024-25 as it is likely to impact global demand, apex exporters body Fieo said. The global uncertainties caused by the continuing war between Russia and Ukraine have impacted India’s outbound shipments in 2023-24, which recorded a decline of 3.1% to $437 billion. Imports too dipped by over 8% to $677.2 billion. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34Lt6kS

Wipro CEO Pallia to get $4.5 million to $7 million in annual salary

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Srini Pallia, Wipro's newly-appointed CEO, is set to receive an annual compensation package ranging from $4.5 million to $7 million, as disclosed in the shareholders' notice posted on the BSE on Monday. Pallia, a 32-year veteran of the company, assumed the role of CEO and MD on April 7 for a five-year term. He succeeds Thierry Delaporte, who departed before his tenure was scheduled to conclude in 2025. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/qg7LmMB

'Nestle working on Cerelac with no sugar content'

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Beyond Rs 76k-crore: Government to scale up semiconductor package

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Days after putting off trip to India, Musk visits China, meets Premier Li

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On a surprise visit to Beijing amid speculation that he may unveil Tesla's autonomous driving technology in the burgeoning electric vehicle (EV) market in China, billionaire Elon Musk on Sunday met Chinese Premier Li Qiang and discussed future expansion plans for his automobile. Li told Musk that China's huge market will always be open to foreign-funded enterprises. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1XqQC8L

No Service Tax liability for BookMyShow on transactions with credit card companies

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TN education dept orders setting up of school-specific committees to prevent corporal punishment

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The Tamil Nadu school education department has directed district education officers to constitute school-specific monitoring committees to prevent corporal punishment. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/Tau059y

ICICI Bank Q4 net profit jumps 17.4% to 10,708 crore, asset quality improves

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ICICI Bank, the second-largest private lender, has reported a net profit of Rs 10,708 crore for the quarter ended March 2024, marking an increase of 17.4%, surpassing analyst forecasts. The bank’s board has recommended a dividend of Rs 10 per share. At the end of the quarter, the bank’s deposits stood at Rs 14,12,825 crore, up by 19.6% from March 2023. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dSLQ3vB

Mandatory service charge 'unfair', Mum eatery told to refund amount

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Essel Homes, Primcomm face insolvency proceedings

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The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency resolution proceedings against Essel Homes and Primcomm Media Distribution Ventures after Gnex Realtech defaulted on repayment of loans of nearly Rs 261 crore to Indiabulls Housing Finance. Essel Homes and Primcomm were the co-borrowers, and NCLT has appointed Ravi Prakash Ganti as the interim resolution professional (IRP). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eIS2BtK

India’s first: Japanese Sharp looks to set up display fab unit

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India is headed to bag investments for the country’s first display fab semiconductor unit – used for making televisions and other digital screens – with Japanese Sharp approaching the Central govt for setting up a 1,000-acres facility that will be used to cater not just to the domestic demand but also exports. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zA8Fn26

Relief for lessors: Delhi high court directs DGCA to de-register 54 GoAir planes

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The lessors of 54 aircraft to grounded-since-last May GoAir finally got relief on several counts from the Delhi high court on Friday which directed the Directorate General of Civil Aviation (DGCA) to de-register these planes within a maximum of five working days. The revival of GoAir under IBC is now an even tougher task as the lessors are learnt to be wooed by both Tata’s Air India and cash-rich IndiGo to get around 15 of the Airbus A320 family planes which could fairly quickly be made airworthy. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7Tqy1UH

ICICI blocks 17k cards over glitch

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Axis pips Kotak Bank as 3rd most valued private bank

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Axis Bank overtook Kotak Mahindra Bank on Thursday to become India's third most valued private lender after a rout in the latter's stock. Kotak Bank's stock opened deep in the red on Thursday a day after RBI restricted the lender from onboarding customers digitally and issuing credit cards, citing repeated failures to fix "serious deficiencies" in its IT system. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4PqbZyC

Vi got a new lease of life, says Birla

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Aditya Birla Group chairman Kumar Mangalam Birla said the Rs 18,000-crore fund-raise has given Vodafone Idea a "fresh lease of life", and set the stage for a "smart turnaround". "Vi is not just a telecom company, it's a national asset with 215 million users and about 8,000 MHz spectrum," said Birla. Investors in Vodafone Idea made a 26% return within a week as the shares of the telecom services company, which were offered at Rs 11 apiece in an FPO, closed at Rs 13.9 on the BSE. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZEbxfXW

AI inside most apps you use

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Infosys narrows revenue gap with Cognizant

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Tanker, insurance rates unmoved by Israel-Iran conflict

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How India's digital public infrastructure can push inclusive global growth

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RBI: Heatwaves, geopolitical tensions may stoke inflation

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According to Tuesday's state of the economy report by the RBI, extreme weather events and persistent geopolitical tensions may contribute to inflation risks, while also potentially causing fluctuations in crude oil prices. The report highlighted a positive trend in real GDP growth, supported by robust investment demand and optimistic sentiments among businesses and consumers. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VGfosXh

TikTok has submitted risk assessment report on TikTok Lite to EU

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Startups raise $2 billion in Q4, 40% less than a year ago

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RIL's Q4 profit flat at Rs 21k crore, revenue rises 11% to Rs 2.4 lakh crore

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Reliance Industries reported a nearly unchanged quarterly profit, while its revenue increased by 11% to Rs 2.4 lakh crore. This growth was driven by the robust performance of its oil & gas and oil-to-chemical (O2C) segments, as well as the rapid expansion of its retail and digital services (Jio) divisions. The company recorded a profit of Rs 21,243 crore in the fourth quarter of FY24. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Ff7TtrZ

PAN misused for HRA fraud? Need to worry

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TCS links variable pay to work from office

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'Post-Covid, 25% rise in Indians taking over 3 trips per year'

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Indians are embracing travel and spending with unprecedented enthusiasm. Post-Covid, there's a 25% surge in those taking over three trips annually. Advance international bookings are back, replacing spontaneous travels of 2020-2021. These insights stem from MakeMyTrip's "India Travel Trends Report," drawing from the travel habits of over 100 million active users. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/s2DpcPk

EPFO added 7.8 lakh new members in February, 56% of them aged 18-25 years

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In February, the Employees Provident Fund Organisation (EPFO), responsible for retirement funds, saw an increase of 1.55 million net members, with nearly 780,000 being new additions, according to recently released data. An important observation from the data is the prominence of the 18-25 age bracket, comprising a substantial 56.4% of the total new members in February. This suggests that the bulk of those entering the organized workforce are young individuals, mostly first-time job seekers, as stated in an official announcement. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5kjlzqw

'Halving' arrives for bitcoin miners

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The bitcoin market on Friday engineered the "halving" of the reward for operating the cryptocurrency, a much-anticipated step designed to limit production and boost the digital money. However, since the digital currency's launch in 2009, the reward has been halved for every 210,000 blocks in a process called halving. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CTIAyYX

Iran-Israel conflict unlikely to hit oil supply

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West Asia oil shipments remain stable amidst Israel-Iran tensions. Speculators influence Benchmark Brent prices. Opec's Hai Tham al-Ghais engages with India on oil imports. Potential disruption if Hormuz Strait blocked."} from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/gKyBReA

Hardeep Singh Puri discusses global oil markets with OPEC secretary general

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Government discussed oil market volatility with OPEC chief, government says

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At 1.4%, Infosys sees lowest growth in its 43-year history

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Infosys reported its lowest annual revenue growth of 1.4% for FY23-24, with shares dropping 5% on NYSE. Revenue forecast for FY25 is 1-3%, affected by macro-economic uncertainties like US Fed rate cuts and lower discretionary spending. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/QbRSdni

Infosys returns 1.1 lakh crore to shareholders in 5 fiscal years

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Infosys returned Rs 1.1 lakh crore to shareholders in 5 years, equals $12.8B. Unchanged 85% distribution policy. 15 payouts made, Rs 80,000 crore through dividends. Investor receipt by FY24: Rs 377.5/share. Rs 26,800 crore returned via buybacks. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BW2rgap

Vodafone Idea eyes fresh bailout to convert dues into equity

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Vodafone Idea seeks govt aid for Rs 2.3 lakh crore dues, requesting payout conversion for efficient operations and investor confidence. CEO Moondra highlights the need for govt support to ensure sustainability and healthy competition, with equity installment conversion option available. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/p3XiGEv

Rupee hits new low of 83.54 per dollar as global tensions mount

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Rupee closed at 83.54 against the dollar, Asian currencies weakened. Dollar index rose. Geopolitical tensions impact currency markets. Analysts predict RBI rate cuts delayed due to rupee fall. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/EXa7Dwo

Tomorrow Capital invests in kidney start-up VitusCare

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Musk's satellite business Starlink gets in-principle government nod

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Now, private banks must seek CEIB clearance for high-value loans

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FY25 will be better than FY24: TCS CEO

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NFRA acts against Reliance Capital's joint auditor

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West Asia conflict may cast shadow on India, global economy

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The recent escalation in tensions, particularly following Iran’s drone offensive, is causing concern among finance ministers and central bank chiefs. The primary impact is expected on oil prices, which surged to $92.2 a barrel, posing risks to global economic stability. In India, while pump prices may not immediately rise due to elections, increased oil prices could strain government subsidies and impact inflation and deficits. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/TsENAao

India a country with most business potential: Japanese printing giant Fujifilm

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Fujifilm sees India as a high-potential market, considering R&D outsourcing and sustainability initiatives. The company discusses advanced commercial printing, multifunction printers, and cloud data management services, aligning with India's strategic importance for future growth. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/DM8ulyF

Universities must continue to be relevant to society, contribute to upliftment, says ex-president Kovind

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Ram Nath Kovind highlighted the importance of universities aligning with national missions and embracing technological advancements at the convocation ceremony of Dr D Y Patil Vidyapeeth in Pimpri, attended by ISRO chairman Somanath S and S B Mujumdar. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/A2z759c

'Bournvita confidence' jolted? No 'health drink' label on ecommerce sites

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Government advises ecommerce platforms to remove Bournvita from health drinks category due to health concerns following a probe by the National Commission for Protection of Child Rights, impacting Mondelez brands like 5-Star, Cadbury, and Oreo. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8Y1B4Pq

IMF greenlights further $360 million in Ghana aid

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The International Monetary Fund on Saturday said it had validated a fresh tranche of aid of $360 million for Ghana as the country seeks to exit an economic crisis. The country has, along with other African states, also been hard hit by economic fallout from the coronavirus pandemic as well as the Russia-Ukraine war. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zPRmufM

Route Mobile public shareholders tender shares worth Rs 2,500 crore

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Beyond Tesla: Elon Musk, PM Modi to take up Starlink too

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Tesla is not the only agenda when Elon Musk meets PM Narendra Modi, but figuring prominently in talks will be Starlink, the satellite communications business of his space company SpaceX. Musk's satellite internet venture has been trying for more than three years to get a licence in India, but has failed to pass govt scrutiny. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/anhsI2t

Sensex falls 793 points as FPIs weigh Mauritius tax issue

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Investor sentiment was impacted by tax treaty changes between India and Mauritius, leading to a 1.1% drop in Sensex. Nifty closed at 22,519. Various factors like US inflation, West Asia tensions, and FPI outflows contributed to market volatility. Foreign portfolio investors were net sellers at Rs 8,027 crore, which translates to nearly $1 billion from the stock market. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/kfdLBFy

Gold surges as Middle East tensions spur safe-haven rush

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