China surpasses US to become India's largest trading partner in FY24: Reports
New Delhi/IBNS: Replacing the United States, China has become the largest trading partner of India for the fiscal year 2023-24, reports said.
Finance
TVS Motor Company introduces new variants to the TVS iQube portfolio, check out the price
Automobile manufacturer TVS Motor Company on Monday launched a new variant of the TVS iQube with 2.2 kWh battery.
India's defence sector holds prospect of USD 138 billion from FY24 to FY32
New Delhi: Amid increasing demand for defence equipment, technologies, and services, India's defence sector holds a substantial ordering prospect of nearly USD 138 billion from FY24 to FY32 for companies involved in defence production and technology advancement, according to a report titled 'India Defence' by Nomura.
Sufficient measures in place to meet peak power demand in May, June: Govt
New Delhi: The government has implemented sufficient measures to address the projected peak power demand of 235 GW in May and 240 GW in June, an official statement said.
Tata Motors expects slow start to FY25 PV sales amid elections
Mumbai: Auto giant Tata Motors has said it expects a slow FY25 beginning due to a drop in probable local passenger vehicle (PV) demand during the ongoing Lok Sabha elections, media reports said.
Jio launches new premium OTT broadband plan at ₹888 with Netflix, Amazon Prime, and JioCinema
Mumbai/IBNS: Aiming at avid steamers, Reliance Jio has unveiled a new Rs 888 monthly plan offering unlimited data and access to 15 major over-the-top (OTT) platforms, including Netflix basic subscription.
India’s industrial production slows slightly in March 2024 to 4.9%
New Delhi: India’s industrial production growth in March slowed slightly, reaching 4.9 percent month-on-month, according to official data.
Kalyan Jewellers records FY24 revenue of Rs 18,548 Cr; PAT grows by 38%
Kolkata: Kalyan Jewellers India Limited recorded a consolidated revenue of Rs 18,548 crore in FY24 as against Rs 14,071 crore in the previous year, a growth of 32%. Consolidated PAT for FY24 was Rs 596 crore.
Sundar Pichai updates employees on layoffs
Google CEO Sundar Pichai has said that the majority of the layoffs in the company would happen in the first six months of 2024, during an all-hands meeting, media reported.
Tata Motors Q4FY24 net profit shoots 222% to Rs 17,407.18 cr
Mumbai: Leading auto manufacturer Tata Motors on Friday reported a consolidated net profit of Rs 17,407.18 crore in the final quarter of the financial year 2023-24 (FY24), a massive 222 percent YoY growth.
India to again delay caps on UPI payments market share, reports Reuters
Mumbai/IBNS: India will again delay caps on market share for a popular digital payments method, benefiting Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration, Reuters reported quoting its sources.
Indian stock markets open higher on global optimism; Nifty maintains narrow range amid technical indicators
Mumbai: Domestic benchmark indices opened higher on Friday, buoyed by strong global cues.
Cipla Q4FY24: Net profit grows 79% YoY to Rs 939 cr
Mumbai: Pharma giant Cipla’s consolidated net profit grew 79% rising to Rs 939.04 crore in Q4 FY24 over Q4 FY23.
Bank of Baroda Q4FY24 net profit up 2.3% YoY to Rs 4,886.49 cr; NII up 2.3% to Rs 11,793 cr
Mumbai: State-run lender Bank of Baroda on Friday said its standalone net profit reached Rs 4,886.49 crore in Q4FY24, up 2.3% compared to Rs 4,775.33 crore in the year-ago period.
JPMorgan says India index inclusion on track, most clients ready: Bloomberg report
Mumbai/IBNS: JPMorgan Chase & Co. is on track to include India in its emerging market debt index from June with most of its clients ready to trade, Bloomberg reported quoting Gloria Kim, the firm’s global head of index research.
Punjab National Bank Q4FY24 PAT soars 160% YoY to Rs 3,010; NII grows 9% YoY to Rs 10,363 cr
New Delhi: Public sector lender Punjab National Bank (PNB) Thursday reported an impressive growth in net profit 159.8% YoY in its net profit to Rs 3,010.27 crore in Q4FY24 from Rs 1,159 crore in Q4 FY23.
Tesla continues to cut jobs in China as part of its global workforce reduction: Report
Beijing: Tesla has increased job cuts in China as billionaire Elon Musk struggles to recover lost market share in the world’s biggest auto market, reported Bloomberg.
India’s Technical Textiles market has huge potential backed by a significant growth rate of 10%: Textiles Secretary
New Delhi: India’s Technical Textiles market has a huge potential backed by a significant growth rate of 10% and placement as the 5th largest technical textiles market in the world, said Rachna Shah, Secretary, Ministry of Textiles while addressing a symposium on Thursday.
Bharat Petroleum reports highest ever net profit in FY24 at Rs. 26,673.50 cr
Mumbai: Bharat Petroleum posted the highest ever standalone net profit of Rs. 26,673.50 crores in FY24 as compared to the profit of Rs 1,870.10 crores in FY 22-23.
NPCI may defer market cap restriction for UPI platforms for 2 yrs: Report
New Delhi: The National Payments Corporation of India (NPCI), responsible for managing the Unified Payments Interface (UPI), is likely to limit market share for digital payment platforms two years later, according to Reuters.
SBI Q4FY24: PAT grows 24% YoY to Rs 20,698 cr; NII grows 19% to Rs 1.11 lakh cr
Mumbai: India’s largest lest lender State Bank of India (SBI) on Thursday reported net profit of Rs 20,698 crore, marking a 24 percent year-on-year increase for the fourth quarter of FY 24.
Bank of Baroda's shares rise over 3% after RBI lifts restrictions on onboarding of new customers via 'BOB World' app
Mumbai/IBNS: The Reserve Bank of India (RBI) has allowed Bank of Baroda (BOB) to onboard customers via its 'BOB World' mobile application, following which shares of the public sector bank surged 3.4 percent to Rs 271 per share on Thursday (May 9).
Bridgestone India unveils Dueler All-Terrain 002 tyre
Kolkata: Bridgestone India has launched the Dueler All-Terrain (A/T) 002 tyre with enhance grip and stability.
China's gold-buying spree triggers global price surge
Gold's value has historically surged during geopolitical and economic upheavals, and recent events like Russia's invasion of Ukraine and the conflict in Gaza have further boosted its price.
Sixteenth Finance Commission invites suggestions from general public
New Delhi: The Sixteenth Finance Commission has invited suggestions and views from the public, organizations, and individuals regarding its terms of reference and overall approach.
TVS SCS wins new business deal for Eicher’s bus facility in Madhya Pradesh
New Delhi: TVS Supply Chain Solutions Limited (NSE: TVSSCS, BOM: 543965), a global supply chain solutions provider and one of the largest, has won a new business contract from VE Commercial Vehicles (VECV) for managing their in-plant warehousing and logistics function at their Eicher bus factory located in Baggad, Madhya Pradesh.
Godrej Agrovet Q4FY24 results: Consolidated net profit jumps to Rs 65.48 cr, revenue improves by 1.8%
Mumbai: Godrej Agrovet, a leading player in the agricultural and animal feed industry, reported a significant improvement in its consolidated net profit jumped to Rs 65.48 crore in the March 2024 quarter from Rs 23.47 crore a year ago.
Indian Coast Guard partners with Jindal Steel & Power to boost indigenous shipbuilding with marine grade steel
New Delhi: The Indian Coast Guard (ICG) and Jindal Steel & Power (JSP) signed a Memorandum of Understanding (MoU) on Tuesday in New Delhi for the supply of indigenous marine-grade steel to enhance the indigenous content in shipbuilding.
RBI asks NBCs to disburse cash loans only up to Rs 20,000: Report
Mumbai: The Reserve Bank of India (RBI) cautioned non-bank finance companies (NBFC) on Wednesday, advising them against providing cash loans exceeding the permitted threshold of Rs 20,000 ($240), media reported.
National Statistical Commission to be revived as govt appoints two new members
New Delhi: The National Statistical Commission (NSC), which has been inactive for a year, is gearing up for operation with the appointment of all five members, media reports said.