JSW Steel Q4FY24 PAT drops 64% YoY to Rs 1,299 cr
Mumbai: JSW Steel reported a 64% year-on-year (YoY) decline in consolidated net profit for the quarter ended March 2024 to Rs 1,299 crore, compared to Rs 3,664 crore in the same period last year.
Finance
Wipro’s Chief Operating Officer Amit Choudhary resigns, Sanjeev Jain to replace him
Mumbai: Indian IT services firm Wipro’s Chief Operating Officer Amit Choudhary has resigned to pursue opportunities outside the organization, according to an exchange filing by the company.
Bandhan Bank Q4FY24 net profit falls 94% to Rs 54.63 cr on higher provisioning, NII up 16% YoY; dividend declared
Mumbai: Private sector lender Bandhan Bank reported a steep decline of over 93 percent in its net profit, which fell to Rs 54.63 crore in the January-March quarter (Q4) of the financial year 2023-24, compared to Rs 808.29 crore in the same period of the previous fiscal year, 2022-23.
India must boost manufacturing to increase share in global value chains: FM Sitharaman
New Delhi: India should intensify manufacturing activities to increase its share in global value chains and attain self-reliance aided by government policies, Finance Minister Nirmala Sitharaman said on Friday.
SpiceJet gets relief as Delhi HC reverses order upholding validity of arbitral award favoring Kalanithi Maran
New Delhi: The Delhi High Court on Friday reversed its previous decision that upheld the arbitral award favouring Kalanithi Maran over low-cost airline SpiceJet, bringing relief to the financially struggling carrier.
Vikram Solar bags 397.7 MWp module supply order for NTPC’s Khavda Solar Project in Gujarat
Kolkata: Solar module manufacturer Vikram Solar has secured a landmark 397.7 MWp module supply order for NTPC Renewable Energy Limited.
Reliance Retail to sell UK's ASOS apparel in India
Mumbai: Reliance Retail has announced a long-term partnership with ASOS, the UK-based premier online fashion retailer catering to people in their twenties.
Market Update: Nifty opens flat, holds above key moving average; bank nifty gains momentum
Mumbai: Nifty opened flat on Friday in line with global cues. After an initial knee-jerk reaction, the index traded in the positive zone and settled at 22,466 levels.
Air India, MedAire collaborate to provide emergency healthcare services to passengers
Tata-owned aviation major Air India has announced its partnership with MedAire, an aviation medical support provider, to ensure emergency healthcare services to its passengers and crew on board its flights.
Report shows global economic growth improves but ‘downsides’ lurk
The global economic picture has improved since January, but vulnerabilities remain, the mid-year update of the World Economic Situation and Prospects report published on Thursday has revealed.
Software firm Zoho to foray into chipmaking, seeks govt incentive: Report
New Delhi: Indian software firm Zoho is considering venturing into chipmaking and is seeking incentives from the central government, Reuters reported citing two sources familiar with the proposal.
VodaIdea net loss widens in Q4FY24; ARPU up 7.6 pc at Rs 146
New Delhi: Vodafone Idea, a leading private sector telecom company with a government stake of 32.2%, recorded a loss of Rs 76,746 million (Rs 7,674.6 crore) in the fourth quarter of the financial year 2023-24, compared to Rs 64,189 million (Rs 6,418.9 crore) in the same period of 2022-23.
Motherson Sumi Wiring India Q4FY24 PAT grows 38% 191 cr
Mumbai: Motherson Sumi Wiring India announced a 38% increase in fourth-quarter profit on Thursday, attributed to robust demand in the automotive sector.
ITI Ltd bags LoIs worth Rs 37.5 cr for Solar Street light Systems in Bihar
Bengaluru/Naini: ITI Limited, the country’s first PSU post-independence and premier telecom manufacturing company has received LoIs worth Rs. 37.5 Crores from Bihar Renewable Energy Development Authority (BREDA) for the installation of Solar Street light Systems.
Indian fintech firm Phone Pe begins its journey in Sri Lanka
Indian fintech major PhonePe on Wednesday it has enabled UPI payment acceptance in collaboration with LankaPay across LankaQR merchant points.
India registers record $778 billion export in 2023-24
New Delhi/IBNS: India registered record exports in the just concluded fiscal year 2023-24 at USD 778 billion, ANI reported, citing sources in the commerce ministry.
Bain partners with Temasek to compete with Blackstone-led consortium for controlling a stake in Haldiram's
Mumbai/IBNS: American private investment firm Bain Capital and Singapore-based Temasek have partnered to compete with Blackstone-led consortium for a majority stake in Haldiram Snacks Food, potentially India's largest private equity purchase to date, reports Economic Times.
Shyam Metalics FY24 PAT grows 22% YoY to Rs 1034.79 cr
Kolkata: Shyam Metalics has reported a Consolidated Profit After Tax of Rs. 220 crores for Q4FY24 against Rs. 126 crores for Q3FY24. Further, the Consolidated Profit After Tax for FY24 was Rs. 1,029 crores against Rs. 843 crores for FY23.
Power Finance Corporation Q4FY24 PAT grows 23% YoY to Rs 7,556 cr; NII grows 22%
New Delhi: Power Finance Corporation (PFC) on Wednesday announced a consolidated net profit of Rs 7,556 crore for the fourth quarter of FY24, an over 23 percent year-on-year (Y-o-Y) jump.
US inflation eases, grows by 0.3% in April, core CPI also cools
Washington: US inflation showed signs of easing as the growth was less than anticipated, indicating a continuation of its downward trajectory at the beginning of the second quarter.
HDFC Life Insurance declares record bonus of Rs 3,722 cr to policyholders
Mumbai: HDFC Life Insurance on Wednesday declared its highest-ever bonus of Rs 3,722 crore on participating plans to nearly 22.23 lakh policyholders.
Cipla promoters sell 2.53% stake in company for Rs 2,637 cr
Mumbai: The promoters of Cipla have sold a 2.53% stake in the company for 'creating liquidity' for specific needs including 'philanthropy', the Mumbai headquartered pharma major said on Wednesday.
Domestic indices open positively on global strength, Nifty sees profit booking, Bank Nifty respecting bullish momentum
Mumbai: The domestic benchmark indices opened positively on Wednesday, driven by strong global cues.
India's palm oil imports jump 34% in Apr to 684,000 tonnes: Report
New Delhi: India saw a significant increase of 34.11% in palm oil imports in April, reaching 684,000 tonnes, according to the Solvent Extractors' Association of India (SEA).
State Bank of India raises fixed deposit rates for retail and bulk deposits
Mumbai: The State Bank of India (SBI) has hiked rates of its fixed deposit interest for specific tenures on retail deposits, up to Rs 2 crore, and bulk deposits, above Rs 2 crore.
Blackstone, Abu Dhabi Investment Authority (ADIA) and Singapore's GIC submit bid to acquire Haldiram Snacks Food: Report
Mumbai: A consortium led by Blackstone, the Abu Dhabi Investment Authority (ADIA) and Singapore's GIC has submitted a non-binding bid to acquire a controlling stake in Haldiram Snacks Food Pvt Ltd (HSFPL), one of India's largest snack and convenience foods companies, reported the Economic Times.
Rulka Electricals Limited IPO opens May 16; price band fixed at Rs 223-235
Mumbai: Integrated electrical services company Rulka Electricals Ltd will launch its initial public offering (IPO) will open on Thursday, May 16, 2024.
Patanjali Foods Q4FY24 profit drops 22% to Rs 206 cr due to weak demand
Mumbai: Patanjali Foods, co-founded by Yoga guru Baba Ramdev and Acharya Balkrishna, reported a 22% drop in fourth-quarter profit on Tuesday, mainly due to weak demand that hurt overall sales in its core edible oils business and rising expenses.
CBI arrests DHFL Director Dheeraj Wadhawan in Rs 34,000 cr bank fraud case
Mumbai: The CBI has arrested former DHFL Director Dheeraj Wadhawan for allegedly defrauding a 17-member bank consortium of Rs 34,000 crore, media reported, citing officials.
AJAX Engineering becomes first Indian concreting equipment manufacturer to export Slip-form Paver
Kolkata: AJAX Engineering, India's premier concreting equipment manufacturer, becomes the country’s first manufacturer to export Slip-form Pavers, a specialised heavy concrete equipment utilised primarily in large scale infrastructure projects for the efficient and precise laying of concrete.