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Showing posts from August, 2024

BPCL mulls major expansion, sees energy demand quadruple by 2047

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Bharat Petroleum will set up a new refinery and invest Rs 1.7 lakh crore to expand existing capacity, launch petrochemicals, gas, and new energy ventures. BPCL aims to meet 10% of India's energy needs, projected to quadruple by 2047, as part of 'Project Aspire', aligning with India's energy goals. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/lx0LIVo

April-June GDP growth falls to 5-quarter low of 6.7%

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In the April-June quarter, India's GDP growth slowed to 6.7%, the lowest in five quarters. The farm and services sectors remained sluggish, while manufacturing and construction were resilient. Despite the slowdown, strong domestic demand and government spending kept India as the fastest-growing major economy. The finance ministry expects sustained growth of over 7% in the medium term. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3XQjdzB

Reliance plans 1:1 bonus stock issue after 7 years

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Reliance Industries, under Mukesh Ambani's leadership, intends to consider a 1:1 bonus share issuance at its September 5 board meeting. Highlighting its sixth bonus since 1977, RIL aims to reward shareholders amid robust finances. The company's digital and retail units are poised to double their revenues in the next few years, driven by new energy ventures. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/9F3gjLt

SBI raises Rs 7,500 crore via tier-2 bonds

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RIL & Disney's $8.5 billion merger gets CCI nod

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The Competition Commission of India has approved the merger of Reliance Industries and Walt Disney India's media assets, with specific modifications. This merger aims to establish an $8.5-billion entertainment powerhouse to compete with Amazon, Netflix, and Sony Pictures Networks. The companies will divest several TV channels and cap advertisement prices for streamed cricket matches for approval. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Kgv3PC1

Yes Bank ousts head of financial markets

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Major automakers announce discounts for 1-2 yrs for vehicle bought against scrapped one

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Major car manufacturers such as Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai, Kia Motors, and others are offering a 1.5% discount or up to Rs 20,000 on new vehicle purchases against old car scrapping for the next year. The initiative aims to advance circular economy efforts, ensuring cleaner, safer, and more efficient vehicles on roads. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/biT94vM

Nifty back above 25k on hopes of US rate cut

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Ministers panel on GST reviews rates of several categories

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The GoM on GST rate rationalisation deferred reworking slabs but reviewed rates in the 12% and 18% categories. Focus areas include health insurance, restaurants, and some food products. Despite strong lobbying, no changes were made to the 28% levy on online gaming. Further rate changes are expected after discussions at the GST Council meeting on Sept 9. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/j0xWH3r

Anil Ambani reviews legal options against Sebi order

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Anil Ambani, banned by Sebi for five years over fund diversion charges, is reviewing legal options. He plans to appeal Sebi’s August 22 order relating to Reliance Home Finance, now owned by Authum Investment. Ambani stepped down from Reliance Infrastructure and Reliance Power boards following a February 2022 interim order. A fine of Rs 25 crore was also imposed. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NdCAWXY

IndiGo introduces gender-neutral 'Mx' option for flight bookings

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IndiGo, holding a 62% share of the domestic market, took steps towards inclusivity by introducing the gender-neutral honorific 'Mx' for passengers. This initiative complemented existing benefits and recruitment programs aimed at the LGBTQ+ community. The airline, as of March 2024, had over 36,860 permanent employees, including over 240 individuals with disabilities in customer-facing roles. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8m9wH7X

ICSI CS Professional programme June result 2024 announced: Check direct link here

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ICSI has announced the results for the CS Professional Programme June 2024. Candidates can check and download their results from the official website, icsi.edu. The CS Executive Programme results will also be declared today at 2 pm. Candidates need their roll number and registration number to access the results. Check the direct link here. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/zhs12KA

SSC CGL Admit Card 2024 released for Uttar Pradesh, Bihar and North East region: Direct links to download here

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The Staff Selection Commission released admit cards for the SSC CGL Tier-I exam 2024 for Central and North East regions. Candidates from nine states can download their hall tickets from regional SSC websites. The Tier I exam, scheduled for September 9-26, 2024, includes subjects like General Intelligence and Reasoning, General Awareness, Quantitative Aptitude, and English Comprehension. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/FEW3ska

SSC JHT, SHT 2024 application window closes today for 312 posts: Here's the direct link to apply

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The SSC concluded the registration for Junior Hindi Translator posts on August 25, with the deadline being 11 pm. A total of 312 vacancies were to be filled for Senior and Junior Hindi Translator roles. The online fee payment option remained open until August 26, and a correction window was available from September 4 to 5, 2024. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/d4qPpjA

Apple targets Sept 10 for new iPhone launch

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GQG buys 1.8% more in Ambuja in Rs 2,750 crore deal

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GQG Partners, a prominent shareholder in the Adani Group, increased its stake in Ambuja Cements to 3.1% with a Rs 2,750 crore investment. This investment raises GQG's exposure across six Adani companies to about Rs 62,000 crore. The firm had first invested in the Adani Group following allegations of corporate malfeasance by Hindenburg Research in early 2023. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XO7zbdl

Cases over Rs 1,000 crore make up 90% insolvency claim value

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An analysis revealed that 15% of insolvency cases, which exceed Rs 1,000 crore, represent 90% of the recoverable value. With delays increasing in resolution times, companies propose dedicated tribunals for high-value cases. The finance minister plans reforms and additional tribunals to expedite insolvency resolutions and prevent asset value loss. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BPHhyNx

Food inflation: RBI remains hawkish

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RBI's monetary policy committee, chaired by Shaktikanta Das, maintained a hawkish stance against interest rate cuts, diverging from the US Federal Reserve. Despite differing views from some external members, concerns about persistent food inflation and the need to anchor inflation expectations prevailed. New external members joining the next meeting may influence future decisions. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/DqN1TZw

NIRF Rankings 2024: Top 10 Dental Colleges in Karnataka medical aspirants should consider

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Dentistry has grown as a favored career in India due to its blend of medical science and artistry. Aspirants must clear NEET-UG for BDS admission. Karnataka features top-ranked dental colleges per NIRF 2024 rankings, including Manipal College of Dental Sciences and A.B. Shetty Memorial Institute of Dental Sciences, highlighting their excellence and opportunities for specialization. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/IHMmNJl

Maharashtra SSC, HSC Supplementary Exam Results 2024 Releasing Tomorrow: When and Where to Check

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The Maharashtra State Board will publish the SSC and HSC supplementary exam results on Friday at 1 pm. These results, accessible online, affect over 28,000 SSC and more than 56,000 HSC students. Those who pass can advance to the next academic stage. Students may apply for revaluation from August 24 to September 9. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/9tmeS7s

Nestlé CEO Mark Schneider to step down after eight years; Laurent Freixe to take over from September

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Nestlé CEO Mark Schneider will step down after eight years, to be succeeded by Laurent Freixe, head of the Latin America division, from September 1. Schneider expressed gratitude for his tenure, while Freixe's extensive in-market experience was praised. Nestlé recently adjusted its 2024 sales growth outlook amidst pricing strategy changes and controversies. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Nhqtub6

Tata Punch pips WagonR as top-selling car

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Tata Motors's 'micro SUV' Punch topped India's car sales from January to July 2024, selling over 1,26,000 units. The Punch has benefited from its new category, competitive pricing, and electric and CNG variants. Its success has led other manufacturers to adopt similar dual-fuel strategies for micro SUVs to meet diverse customer needs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WgkBOsv

Paisabazaar makes shift to secured loans

Paisabazaar shifted its focus from unsecured to secured lending due to RBI's new directions. The firm partnered with 25 lenders for secured loans and aims to be a leading home loan platform. It plans to deploy 300 field staff in major cities and offer various secured loan products, reflecting market trends. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/YI4glif

Decathlon invests Rs 930cr more to step up local manufacturing

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Decathlon announced a new investment of 100 million euros in India, increasing their total commitment to over 200 million euros. The company plans to ramp up local manufacturing to reduce dependence on imports. Currently, 8% of Decathlon's global range is produced in India, with an aim to increase this to over 10% in three years. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2z1X5yg

Chevron to invest $1 billion in new tech hub in India

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Axis pips ICICI in card machine business

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Honda overtakes Hero, market leader, in wholesales

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FM pushes banks to launch deposit mobilisation drive

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FPIs pull out Rs 21k crore from equities in August

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India's holding of US government securities hits 1-year high

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BPCL plans Rs 1.7 lakh crore spend to expand core business, new energy foray

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Bharat Petroleum Corporation announced plans to invest Rs 1.7 lakh crore over five years to expand its oil refining and fuel marketing businesses, along with ventures into petrochemicals and green energy. The company aims for net zero emissions by 2040 and is targeting 2 gigawatts of renewable energy capacity by 2025. These initiatives are part of its 'Project Aspire.' from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6RNAGsU

MCC NEET UG Counselling 2024: Round 1 Final Seat Matrix and NRI List Released; Check Here

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The Medical Counselling Committee (MCC) has released the final seat matrix for NEET UG 2024 counselling. With over 1,000 candidates shifted to the NRI category, the first round of choice filling will close on August 20. The article provides a detailed breakdown of MBBS seats in central universities, including quotas for IP University and CW (children/widows of Armed Forces personnel). Seat allotment results will be declared on August 23. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/7fWN2Xy

Spot gold rises to $2,500 an ounce for first time

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Countries set to vote on UN tax convention today after months of intense negotiations

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Home care products show 27% growth in 2015-23: Study

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Home care products, including toilet cleaners, floor cleaning items, and mosquito repellents, saw a significant demand rise from 2015-23, influenced by the Swachh Bharat Mission. The initiative boosted consumption, with each category experiencing a two-to-three-fold increase in volumes. This surge also led to steady growth in the overall home care sector. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CbDJzMm

Mahindra-owned iconic motorcycle brand BSA debuts

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Ola says it will launch AI chip in 2026, adds electric motorcycles to its range of scooters

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Ola’s CEO Bhavish Aggarwal emphasized the necessity of AI sovereignty for India during an event in Hosur announcing new products. Ola’s AI company, Krutrim, aims to produce India’s first AI silicon chip by 2026. The company also launched electric motorcycles and rebranded Ola Cabs as Ola Consumer, expanding its services and partnerships for future technological advancements. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1sIYuy2

Goods exports decline for 1st time in 4 months

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India's trade deficit grew to $23.5 billion in July as exports declined 1.4% to $34 billion, mainly due to a drop in petrol, diesel, and gems exports. Imports increased 7.5% to $57.5 billion, with crude oil imports rising 17% to $13.9 billion. Commerce Secretary Sunil Barthwal cited domestic oil demand and global crude prices as factors. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cepTVhU

Sensex slides nearly 700 points on global cues, profit-taking

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On Tuesday, global market weakness and geopolitical tensions led to a strong selloff in Mumbai markets, with the Sensex dropping nearly 700 points and Nifty down by 208 points. Foreign funds aggressively sold off, leading to a net loss. Major sectors like banking and IT saw significant declines, although two companies had strong listings amid the broader market downturn. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Md1bFEy

In role reversal, Bharti acquire 24.5% of iconic BT in $4 billion deal

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Bharti Global announced the acquisition of a 24.5% stake in BT Group plc from Altice UK, making it the largest shareholder. Bharti had already acquired 9.9% of BT. The move aligns with Bharti's strategy of investing in developed markets and enhancing India-UK business ties, subject to regulatory approvals and security clearance. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XRvw8Tr

Retail inflation falls to near 5-year low of 3.5% in July

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In July, retail inflation in India fell to a near 5-year low of 3.5%, led by a drop in prices of vegetables, fruits, and spices. Industrial output growth also slowed to 4.2% in June. The easing inflation has sparked hopes for interest rate cuts in the second half of the fiscal year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6uWzFSe

SpiceJet Mumbai airport dues: Flights won't be hit, says airline

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Sebi: Have mechanisms to fix conflict of interest issues

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The markets regulator Sebi dismissed allegations by Hindenburg Research about conflict of interest involving its chairperson, stating that adequate internal mechanisms were in place. Sebi emphasized its actions against Adani Group, highlighted completed investigations, and negated claims of regulatory changes favoring Blackstone. Sebi's response followed a show-cause notice issued to Hindenburg over illegal gains. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/qSwpXiv

Government moves to ready ground for 5% ethanol mix in diesel

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The Indian government explored a new plan to blend 5% ethanol with diesel (ED-5) as it neared its target of 20% ethanol-blended petrol within two years. A meeting at the PMO was held to discuss this, with trials on older buses showing promising results. Further trials on heavy-duty vehicles are anticipated. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/qti7wTK

Madhabi’s response raises new critical questions: Hindenburg Research

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Hindenburg Research responded to Madhabi Puri Buch and Dhaval Buch's release, which called their previous report character assassination. Hindenburg highlighted critical questions and admissions, including an email Buch sent in 2018 on behalf of her husband. They questioned Buch's investments through her husband while serving as a SEBI member and noted Buch's connection to a fund linked to Vinod Adani. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Jgr4X9K

Jharkhand NEET Counselling 2024: Check application fee, important documents needed, and other details here

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The Jharkhand Combined Entrance Competitive Examination Board (JCECEB) will soon begin the Jharkhand NEET Counselling 2024 for MBBS and BDS programs. Candidates can register for the counselling process on the official website, jceceb.jharkhand.gov.in, once the link is active. Check important details regarding how to register, application fee, documents needed, etc., here. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/boD1smz

Sebi chief, husband reject Hindenburg allegations: 'Our life and finances are an open book'

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Madhabi Puri Buch, SEBI chairperson, and her husband, Dhaval Buch, denied allegations by Hindenburg Research regarding their involvement in offshore entities tied to the Adani Group scandal. The couple also expressed their disappointment and accused Hindenburg of resorting to character assassination in response to the regulatory measures. They emphasized that their life and finances are transparent and that they have consistently provided all necessary disclosures to SEBI over the years. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/txd6jUq

‘After merger in 2022, HDFC faced hostile banking landscape’

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HDFC Bank MD & CEO Sashidhar Jagdishan acknowledged that the merger with HDFC faced unforeseen challenges due to a tightened global economic situation. Changes included RBI's rate hikes and a shift in consumer preferences. Emphasizing branch expansion, Jagdishan highlighted the importance of greater deposit growth over credit growth to navigate the tough economic landscape. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cNZY3kF

Olympic games will boost French economy: French central bank

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US FDA approves first nasal spray for allergic reactions

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Standard Chartered Bank exits Protean eGov Tech, sells stake

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Govt amends Budget proposal on realty capital gains formula

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Finance Minister Nirmala Sitharaman introduced amendments to the Finance Bill to mitigate the impact of long-term capital gains tax on real estate. Taxpayers can now choose between a new 12.5% tax rate without indexation and the old 20% rate with indexation, opting for whichever is lower for assets acquired before July 23, 2024. The Lok Sabha approved the Bill. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FHLQq04