The Times of India - Business (48 minutes ago)
IndiGo has announced the launch of daily direct flights between Pune and Dubai starting November 22. This new route will expand IndiGo's international network, providing greater connectivity to Dubai, a key commercial hub. The addition boosts the airline's weekly flights from Pune to over 25 domestic and 2 international destinations.
ReadThe Times of India - Business (6 hours ago)
Lodha Group is transferring a substantial shareholding in Macrotech Developers to Lodha Philanthropy Foundation with an initial Rs 20,000 crore. This move will support national and social upliftment, including female workforce participation, mathematical research, and scholarships for Indian students. Abhishek Lodha cites Tata Trusts' legacy as...
ReadThe Times of India - Business (7 hours ago)
Uttar Pradesh CM Yogi Adityanath highlighted transformative progress with investment proposals worth Rs 40 lakh crore from last year's Global Investors Summit. He explained the state's shift from a troubled past to attracting global investors, creating jobs, and promoting safety. Significant projects worth Rs 12 lakh crore have begun, aligning with...
ReadThe Times of India - Business (8 hours ago)
Dhanteras marks the onset of Diwali, with jewelers anticipating an increase in customer flow and sales despite high gold prices. Sales are expected to rise from afternoon to late evening. Anticipated sales volume remains around 20 tonnes, similar to last year, although higher gold prices may slightly impact the overall sales figures.
ReadThe Times of India - Business (9 hours ago)
Jairam Ramesh highlights that thousands of tribals in Jharkhand struggle to access their bank funds due to stringent KYC norms. He urges the Reserve Bank of India to review these procedures, citing surveys where 60% of households in Latehar and Lohardaga have frozen bank accounts, affecting access to MGNREGA wages and government cash transfers.
ReadThe Times of India - Business (9 hours ago)
The Reserve Bank of India updated its criteria for Central Counterparties (CCPs), requiring a minimum net worth of Rs 300 crore, mandatory submission of audited net worth, and shares owned by users. Foreign CCPs must seek approval to operate, and CCPs must form a compliance committee chaired by an independent director.
ReadThe Times of India - Business (9 hours ago)
NTPC Green Energy, a subsidiary of NTPC, received approval from the Securities and Exchange Board of India to raise Rs 10,000 crore through an IPO. The funds will primarily be used to invest in NTPC Renewable Energy and for corporate purposes. NTPC Green Energy's current portfolio includes 14,696 MWs with significant projects in the pipeline.
ReadThe Times of India - Business (10 hours ago)
Apple is expanding its manufacturing network in India at a rapid clip, taking advantage of local subsidies, a skilled workforce and advances in the country's technological capabilities. India is a crucial part of the company's effort to lessen its reliance on China.
ReadThe Times of India - Business (12 hours ago)
Gold buying on Dhanteras 2024: Despite a 30% price surge since last Dhanteras, experts recommend investing in gold this year, anticipating further gains due to global economic factors. Options include physical gold, ETFs, and digital gold, though caution is advised for short-term investments.
ReadThe Times of India - Business (15 hours ago)
Bitcoin surged past $70,000, driven by inflows into ETFs and election-related speculation. Anticipations of a Trump victory, favorable to digital assets, and elevated implied volatility ahead of the US election have boosted Bitcoin. Traders are betting it could reach $80,000 by November's end, supported by strong ETF inflows and a 66% rise in 2024.
ReadThe Times of India - Business (22 hours ago)
A forensic investigation by an independent firm has cleared Star Health Insurance's CISO of wrongdoing, stating that the alleged communication with a hacker was fabricated. The company's board committees reviewed the findings, confirming no links between the CISO and the data breach incident.
ReadThe Times of India - Business (22 hours ago)
The Indian economy looks promising with a stable external sector and a boost from the festive season. However, slow urban demand due to high food inflation and softening consumer sentiments raises concerns. Rural demand improves, but urban demand shows signs of weakening, impacting FMCG and auto sales.
ReadThe Times of India - Business (22 hours ago)
Bargain hunting after a five-day slide boosted Sensex by 603 points to 80,005 on Monday, led by ICICI Bank's strong quarterly numbers. Limited gains were made due to foreign fund selling, but reduced crude prices strengthened the rupee. Nifty also rose 158 points, reversing its losing streak.
ReadThe Times of India - Business (22 hours ago)
Swiggy plans to launch an IPO on Nov 6, with a price band of Rs 371-390, aiming to raise Rs 11,327 crore. The IPO values the company at $11.3 billion, with Rs 4,499 crore coming from fresh share issuance and Rs 6,828 crore through an offer for sale. Prosus and other investors are selling stakes, while SoftBank retains its shares.
ReadThe Times of India - Business (22 hours ago)
Bharti Airtel reported a 168% increase in second-quarter earnings driven by higher tariffs, reaching a net profit of Rs 3,593 crore. The company also outlined a leadership transition plan effective January 2026, with COO Shashwat Sharma set to take over as CEO and MD.
ReadThe Times of India - Business (22 hours ago)
Gold prices have surged by 25-30% since last Dhanteras, reaching near record highs both domestically and internationally. This increase has led to concerns among jewellers about a potential drop in sales this festive season. Demand has shifted towards lower-priced gold jewellery, with overall sales expected to decrease by around 20%.
ReadThe Times of India - Business (A day ago)
Swiggy Ltd., an Indian food-delivery platform, plans to raise $1.35 billion through an IPO at 390 rupees per share. Opening on November 6, this move follows a surge in India's IPO market, highlighted by Hyundai Motor India's recent $3.3 billion IPO. Swiggy partners with over 200,000 restaurants across India.
ReadThe Times of India - Business (A day ago)
Indian stock markets broke a five-day losing streak on Monday, with the BSE Sensex rising 0.76% to close at 80,005.04 and Nifty50 up 0.65% to 24,339.15. Gains were driven by strong quarterly results from ICICI Bank and other lenders. The rupee remained stable at 84.0775 against the US dollar.
ReadThe Times of India - Business (A day ago)
Cyient has acquired a 27.3% stake in US-based Azimuth AI, enhancing its semiconductor capabilities focused on intelligent energy and power solutions. This strategic move aims to drive innovation, especially in India, positioning it as a hub for chip development aligned with government initiatives.
ReadThe Times of India - Business (2 days ago)
The Reserve Bank of India's forecast of a 7.2% growth rate for the economy by March 2025 is causing concern among economists due to recent signs of slowing activity. Economists point to factors like declining urban consumption and exports, and warn against maintaining high interest rates, which could further undermine growth.
ReadThe Times of India - Business (2 days ago)
Reliance's Campa Cola challenges beverage giants PepsiCo and Coca-Cola with its aggressive pricing strategy, offering 200 ml bottles at Rs 10. To counter this, Coca-Cola and PepsiCo are employing tactics such as better retailer margins and potential lower-priced packs, particularly in markets like Kerala and West Bengal.
ReadThe Times of India - Business (2 days ago)
Imports from China into India rose nearly 11% to $46.6 billion between April and August, driven primarily by computers, telecom equipment, and components, while exports dropped 8%. Electronics, machinery, and organic chemicals made up two-thirds of imports, widening the trade deficit to $40.8 billion.
ReadThe Times of India - Business (2 days ago)
Swiggy plans a Rs 11,327 crore IPO on Nov 6, aiming for $11.3 billion valuation, adjusted from up to $13 billion due to market conditions. Prosus, Accel, and Elevation Capital will sell part of their stakes. This follows a $10.7 billion valuation in Jan 2022.
ReadThe Times of India - Business (2 days ago)
Foreign fund trading activities and quarterly earnings from major companies are expected to drive the market. Investors will assess crude oil prices due to West Asian geopolitical tensions and the rupee's performance. Waaree Energies' listing also plays a crucial role, amid US election uncertainty and significant OCT market losses.
ReadThe Times of India - Business (2 days ago)
Facing a significant industry slowdown, car manufacturers like Maruti Suzuki, Honda, Mahindra, and luxury brands such as Audi and BMW are offering deep discounts, sometimes up to Rs 12 lakh, across various models from entry-level to high-end luxury. Analysts predict even deeper discounts post-Diwali to clear excess inventories.
ReadThe Hindu - Business (2 days ago)
What has been the loss incurred by Indian aviation due to frequent security threats over the past few weeks? What are the Standards and Recommended Practices to tackle such situations? Who sets up and monitors aviation guidelines? Can existing laws be tweaked to hand out more stringent punishment to offenders?
ReadThe Hindu - Business (2 days ago)
Leader of the Opposition in the Lok Sabha Rahul Gandhi said Ms. Buch was being protected from giving answers to Parliament, from resigning as SEBI chief and from an investigation into her alleged links with the Adani Group companies. Ms. Buch had skipped the PAC meeting citing personal reasons
ReadThe Times of India - Business (3 days ago)
Finance minister Nirmala Sitharaman emphasizes the need for sovereign ratings to properly reflect the economic realities of emerging markets to lower their capital costs. She calls for credit rating agencies to improve their methodologies and highlights the importance of IMF governance reforms amidst global economic challenges.
ReadThe Times of India - Business (3 days ago)
PM Narendra Modi and his Spanish counterpart Pedro Sanchez will inaugurate the Tata-Airbus C-295 aircraft manufacturing facility in Vadodara. The $2.9 billion project will see 40 of the 56 aircraft made in India, enhancing IAF's tactical airlift capability. The first plane is expected by September 2026, replacing the IAF's aging Avro fleet.
ReadThe Times of India - Business (3 days ago)
IDFC First Bank's Q2 net profit dropped by over 73% to Rs 201 crore, primarily due to a Rs 253-crore provision following Maharashtra government's toll waiver decision. The net interest income increased by 21% to Rs 4,788 crore, while deposits rose by 32.4% to Rs 2,18,026 crore.
ReadThe Times of India - Business (3 days ago)
RBI governor Shaktikanta Das anticipates inflation will moderate after October, despite recent highs. Speaking at an IMF-World Bank event, Das emphasized efforts to align inflation with the 4% target and highlighted economic strength. He also warned of cryptocurrency risks and stressed international consensus on regulation.
ReadThe Times of India - Business (3 days ago)
CBDT extended the Income Tax Return deadline for the assessment year 2024-25 for corporates to November 15, 2024, addressing difficulties in electronic audit report submissions. This move aims to provide more time for compliance and reduce pressure. Additionally, a committee reviews the Income Tax Act, 1961, to simplify the law and reduce disputes.
ReadThe Times of India - Business (3 days ago)
India continues implementing economic reforms and liberalization, urging global investors to explore the nation's demographic dividend and skilled workforce. Finance Minister Nirmala Sitharaman, during the IMF-World Bank meetings, underlines notable FDI inflows and improving infrastructure like water and electricity supply.
ReadThe Times of India - Business (3 days ago)
ICICI Bank reported a 14.5% standalone net profit growth to Rs 11,746 crore for Q2 of the current financial year, compared to Rs 10,261 crore a year ago. Total income rose to Rs 47,714 crore, with interest income at Rs 40,537 crore. Gross NPAs improved to 1.97%, while net NPAs eased to 0.42%.
ReadThe Hindu - Business (3 days ago)
The UN body is facing budget shortfall of at least €57 million, threatening its ability to conduct climate negotiations and implement agreements; despite some countries exceeding their payment obligations, major contributors have not yet fulfilled their commitments, exacerbating the crisis
ReadThe Times of India - Business (4 days ago)
Nvidia has surpassed Apple to become the world's most valuable company, thanks to a remarkable surge in demand for its advanced AI chips. Nvidia's market value briefly hit $3.53 trillion, edging out Apple's $3.52 trillion. The rally follows significant gains and strategic partnerships, including a recent funding round by OpenAI and strong profit...
ReadThe Times of India - Business (4 days ago)
Satya Nadella, Microsoft's CEO, saw a 63% jump in his FY24 compensation, reaching $79.1 million, largely fueled by stock awards amid the company's valuation exceeding $3 trillion. Despite this, Nadella requested a reduction following multiple cybersecurity breaches. The company's shares rose by 31.2% by June 30, 2024.
ReadThe Times of India - Business (4 days ago)
On Friday, the Sensex and Nifty fell nearly 1% each due to poor quarterly earnings and substantial foreign fund selling, with the Sensex dropping 663 points to 79,402. BSE's market capitalization fell by over Rs 7 lakh crore. Foreign portfolio investors recorded a net outflow of nearly Rs 90,000 crore in October, while domestic funds provided some...
ReadThe Times of India - Business (4 days ago)
Nvidia CEO Jensen Huang emphasizes India's potential to transform from an IT outsourcing hub into an AI innovation ecosystem, leveraging its vast data and computing expertise. With a significant portion of Nvidia's operations in India, Huang highlights the country's resources and stresses the importance of locally processing Indian data to maximize...
ReadThe Times of India - Business (4 days ago)
The demand for office space by global capability centres in India is set to rise, with projections reaching 26.1 million square feet by 2027. Karnataka's capital Bengaluru leads this growth, hosting 42% of the current 240 million square feet occupied by GCCs, emphasizing India's role in technology development and innovation.
ReadThe Times of India - Business (4 days ago)
BSNL has seen significant subscriber growth over the past two months, attracting users due to lower tariffs following tariff hikes by private telecom companies. In July and August, BSNL gained millions of new users while competitors like Jio, Airtel, and Voda Idea lost subscribers. BSNL's low Average Revenue Per User is partly because it has yet to...
ReadThe Times of India - Business (4 days ago)
Commerce and industry minister Piyush Goyal clearly states that the EU's insistence on dairy sector concessions could jeopardize the proposed trade agreement. He emphasizes that issues like labour and climate change should be discussed at international forums, not within trade deals.
ReadThe Times of India - Business (4 days ago)
IndiGo faced a Rs 986.7 crore loss in Q2 July-Sept quarter, ending a streak of seven profitable quarters. The loss is attributed to high fuel costs and a high number of grounded planes due to Pratt & Whitney engine issues. Despite the losses, the airline's revenue grew by 14.6% YoY.
ReadThe Times of India - Business (4 days ago)
India's foreign exchange reserves fell to $688.2 billion by Oct 18, marking a third consecutive week of decline with a drop of nearly $2.2 billion. The decline follows a $14.5 billion decrease over the previous two weeks, partly offset by a $1.8 billion rise in gold holdings.
ReadThe Times of India - Business (4 days ago)
India's pursuit of a 'Viksit Bharat' by 2047 gets a boost with the signing of a $10 billion agreement between ILACC and VPVV Techno Construction Pvt. Ltd. The partnership will drive investments in infrastructure, defence, industrial development, and technology, creating jobs and enhancing economic ties with Latin America and global economies.
ReadThe Times of India - Business (4 days ago)
IndiGo, India's largest airline, reported a net loss of Rs 986.7 crore for the September quarter, its first quarterly loss in two years. This was attributed to higher fuel costs and increased aircraft rental expenses. Despite this, revenue grew by 14.6% year-on-year to Rs 17,800 crore.
ReadThe Times of India - Business (4 days ago)
Telecom companies have warned of possible disruptions in online transactions starting November 1, due to a new TRAI rule on message traceability. They have sought additional time for proper implementation to avoid blocking important messages like OTPs.
ReadThe Times of India - Business (5 days ago)
Microsoft CEO Satya Nadella's compensation rose 63% to $79.1 million in fiscal 2024, driven by increased stock awards as Microsoft's market value surpassed $3 trillion. Nadella's stock awards jumped from $39 million to $71 million. Despite strong performance, Nadella reduced his cash incentive due to reported cybersecurity breaches. Comparatively,...
ReadThe Times of India - Business (5 days ago)
Tesla shares soared nearly 22% on Thursday, following Elon Musk's optimistic forecast of 20%-30% sales growth for the upcoming year. Plans for an affordable vehicle in 2025 and reduced production costs boosted investor confidence. The company's third-quarter margin exceeded expectations, driven by lower unit production costs and revenue from Full...
ReadThe Times of India - Business (5 days ago)
Nvidia's AI summit in Mumbai saw CEO Jensen Huang praise India's tech capabilities while Reliance chairman Mukesh Ambani announced an AI infrastructure partnership. Indian companies like TCS, Tata Communications, and Infosys launched new AI initiatives, as Huang highlighted India's key role in language model innovation.
ReadThe Times of India - Business (5 days ago)
India Inc is expected to report a 16-quarter low revenue growth of 5-7% for the September quarter. The stagnation in construction, a decline in industrial commodities, and sluggish investment-linked sectors contributed to the slowdown. Additionally, the agriculture sector experienced a significant 20-22% revenue drop.
ReadThe Times of India - Business (5 days ago)
A majority of Indian exporters cite high interest rates as a major hurdle, with many borrowing at rates over 12%. Despite government efforts to address freight concerns, borrowing costs and collateral requirements remain issues, especially for smaller exporters, affecting their competitiveness.
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