Rupee gains 6 paise to reach 83.94 against US Dollar in early trade
Mumbai/IBNS: The rupee strengthened by 6 paise to 83.94 against the US dollar in early trading on Tuesday, aided by a weaker dollar and a decline in crude oil prices.
Finance
Tata Motors shares down 3% as UBS keeps 'sell'
Mumbai/IBNS: Tata Motors Limited shares opened weak, falling 3 percent to Rs 901, continuing a downward trend for the second consecutive session after global financial services firm UBS maintained its 'sell' recommendation due to the company's uncertain outlook, reports said.
Ola Electric shares slip 6% following CCPA's show cause notice over surging consumer complaints
Bengaluru/IBNS: Shares of Ola Electric Mobility dropped 6 percent on Tuesday (Oct. 8), hitting a day's low of Rs 85.21 on the BSE, after the Central Consumer Protection Authority (CCPA) issued a show-cause notice to the Bhavish Aggarwal-led EV company, raising concerns over the increasing number of consumer complaints.
Manish Tiwary to become Nestle India MD after Suresh Narayanan retires on July 31, 2025
New Delhi/IBNS: FMCG giant Nestle India Ltd on Monday (Oct. 7) announced that its Chairman and Managing Director (CMD), Suresh Narayanan, will retire on July 31, 2025.
Automobile sales in India drop 9.26% YoY in September as PV dealers face record-high inventory levels: FADA
New Delhi/IBNS: The Federation of Automobile Dealers Association (FADA) reported on Monday (Oct. 7) that overall automobile sales in September saw a 9.26 percent decline, with mixed results across various segments.
HeidelbergCement shares surge 18% on reports of Rs 10,000-crore buyout interest from Adani's Ambuja Cements
Mumbai/IBNS: HeidelbergCement India's share price surged 18 percent on Monday (Oct. 7) following reports that the Adani Group is in talks to acquire the company, along with Zuari Cement, from its German parent firm.
RBI unlikely to postpone policy shift despite limited impact of Iran-Israel tensions
Mumbai/IBNS: The growing tensions between Israel and Iran are not expected to prompt the Reserve Bank of India (RBI) to delay its shift in monetary policy, as experts suggest the impact on the economy and crude oil prices remains minimal, reports Moneycontrol.
Ola Electric shares slip over 9% amid spat between CEO Bhavish Aggarwal and comedian Kunal Kamra
Bengaluru/IBNS: Shares of Ola Electric Mobility dropped by 9.4 percent to Rs 89.7 during Monday's (Oct. 7) intraday trading on the BSE, following a heated exchange between the company's CEO, Bhavish Aggarwal, and comedian Kunal Kamra on X (formerly Twitter).
New 2024 Nissan Magnite Facelift launched in India at Rs 5.99 lakh
New Delhi/IBNS: Nissan Motor India on Friday (Oct. 4) introduced the facelifted version of the Magnite in the Indian market, starting at an introductory price of Rs. 5.99 lakh (ex-showroom).
YouTube’s Ishan Chatterjee appointed as JioCinema's chief business officer
Mumbai/IBNS: JioCinema, the streaming service owned by Reliance Industries Ltd., has named Ishan Chatterjee as its new chief business officer, signaling its intention to further grow its digital offerings.
Union Cabinet approves Chennai Metro Rail Phase-II and Diwali bonuses for railway and port workers
New Delhi: The Union Cabinet on Thursday approved the Ministry of Housing & Urban Affairs' proposal for the Chennai Metro Rail Project Phase-II, which will cover three corridors at a project cost of Rs 63,246 crore.
Swiggy upsizes IPO to Rs 5,000 cr amid growing competition with Zomato: Report
Mumbai: Food tech giant Swiggy has received shareholder approval to increase the size of its primary issue for its upcoming IPO from Rs 3,750 crore to Rs 5,000 crore, media reports said.
Union Cabinet approves 78-day productivity linked bonus for over 11 lakh railway employees
New Delhi: The Union Cabinet has approved the disbursement of a Productivity Linked Bonus (PLB) to 11,72,240 railway employees, with a total financial outlay of Rs 2,028.57 crore.
Global oil prices shoot up for third consecutive day amid escalating Middle East conflicts
New York/IBNS: Escalating tensions between Israel and Iran in the Middle East have driven global crude oil prices upward, and the situation could worsen following Iran's launch of around 180 ballistic missiles at Israel in response to the deaths of Hamas, Hezbollah, and Iranian military leaders.
Ship queue increases at major US ports as dockworkers' strike enters third day
New York/IBNS: A growing number of container ships were lined up outside major ports in the United States on Thursday (Oct. 1) as the largest dockworker strike in nearly 50 years entered its third day, disrupting cargo unloading and threatening shortages of goods ranging from bananas to auto parts, media reports said.
Apple may turn to China as fire halts production at Tamil Nadu iPhone plant: Report
Chennai/IBNS: A fire at Tata Group's plant in Tamil Nadu, which produces components for Apple iPhones, could disrupt production ahead of the festive season sales surge, Reuters reported, citing industry experts and a source familiar with the situation.
ChatGPT maker OpenAI secures $6.6 billion funding with investment from Microsoft, Nvidia
California/IBNS: American artificial intelligence (AI) research company OpenAI has secured $6.6 billion in investments, potentially valuing the ChatGPT maker at $157 billion, positioning it among the world’s most valuable private enterprises, Reuters reported.
BSE to retain weekly options linked to Sensex after SEBI's new F&O framework: Report
Mumbai/IBNS: The BSE will continue offering weekly derivative contracts linked to the Sensex, after the new, stricter regulations on equity derivatives set by India's market regulator the Securities and Exchange Board of India (SEBI), Reuters reported, citing two sources familiar with the matter.
Investors' Rs 7 lakh crore wiped out as Sensex plunges over 1,300 points, Nifty50 below 25,550
Mumbai/IBNS: Benchmark Indian equity indices, BSE Sensex and NSE Nifty50, experienced a significant downturn on Thursday (Oct. 3), with the Sensex plummeting over 1,300 points and the Nifty50 falling below 25,450.
Ajax Engineering files IPO papers with SEBI
Mumbai: Concrete equipment manufacturer Ajax Engineering services and solutions across the concrete application value chain has filed the draft red herring prospectus with capital markets regulator SEBI to float an initial public offering.
India’s digital revolution set to create a $1 trillion economy by 2028: Report
New Delhi: India’s financial ecosystem has undergone a significant transformation, driven by deep internet penetration, affordable 4G and 5G services, and a range of government digital initiatives.
Ashwini Vaishnaw highlights Rs 60,000 cr investment opportunity in West Bengal, urges state’s cooperation
Kolkata: Railway Minister Ashwini Vaishnaw on Wednesday said there is a Rs 60,000-crore investment opportunity for the railways in West Bengal, media reports said.
Tesla misses Q3 delivery expectations amid stiff competition in China and Europe: Report
Tesla delivered fewer vehicles than analysts had anticipated in the third quarter, facing pressure from strong competition in China and Europe, which dampened demand for its aging models, Reuters reported.
NBFC loan sanctions rise 12% YoY in Q1FY25, led by growth in home, auto, and personal loans: Report
New Delhi: Loan sanctions by non-banking finance companies (NBFCs) in India saw a 12% year-on-year (YoY) increase in the first quarter of the current financial year (Q1FY25), driven by strong growth in home, auto, and personal credit segments, media reports said.
Adani Enterprises merges two subsidiaries to bolster green energy initiatives
Mumbai: Adani Enterprises Ltd. (AEL) has consolidated two of its subsidiaries with Adani New Industries Ltd. (ANIL) as part of its strategy to enhance its green energy portfolio.
Reliance Group partners with Bhutan for major solar and hydropower projects
Thimphu: Reliance Group announced a strategic collaboration with the government of Bhutan to develop large-scale solar and hydropower projects.
India's booming IPO market: 47 companies raise over Rs 16,000 crore in September
Mumbai/IBNS: While India's secondary market continues to soar, with benchmark indices hitting new highs daily, the primary markets are also experiencing a wave of activity.
Wave of IPOs to hit Dalal Street as 13 companies file draft papers with SEBI in a single day
Mumbai/IBNS: A surge of initial public offerings (IPOs) is set to hit the Indian stock market, with more than a dozen companies, including Vikram Solar, Aditya Infotech, and Varindera Constructions, submitting preliminary filings to market regulator SEBI in a single day.
Indian car market records 1.1% YoY drop in sales in Sept. 2024, Mahindra overtakes Tata Motors to secure No 3 spot
Mumbai/IBNS: In September 2024, the Indian car market experienced a slight year-on-year (YoY) decline of 1.1 percent, with total car sales reaching 3,58,886 units, compared to 3,62,876 units in September 2023.
Asian shares decline, oil and safe-haven assets surge following Iran's strike on Israel
Mumbai/IBNS: Oil and safe-haven assets surged after Iran launched a missile attack on Israel, causing US stocks to fall on Tuesday (Oct. 1) as investors sought safety, reports Bloomberg.