Bajaj Electricals MD & CEO Anuj Poddar resigns
Pune: Bajaj Electricals Limited announced the resignation of its Managing Director and Chief Executive, Anuj Poddar, from his position and as a member of the board of directors on Wednesday.
Finance
ADB retains India's FY25 growth at 7%
New Delhi: The Asian Development Bank (ADB) on Wednesday maintained its GDP growth forecast for India at 7 percent for the current financial year, anticipating a rebound in agriculture due to above-normal monsoon projections, according to media reports.
Byju's to challenge insolvency proceedings this week
Bengaluru: Education technology company Byju's will challenge insolvency proceedings initiated against it in an effort to block the process this week, as the startup, once valued at $22 billion, tries to navigate its current crisis, two sources said on Wednesday, Reuters reported.
Asian Paints Q1FY25 net profit drops 25% YoY to Rs 1,170 cr
Mumbai: Asian Paints on Wednesday reported a nearly 25 percent year-on-year decline in its consolidated net profit for Q1 FY25, amounting to Rs 1,170 crore, due to a challenging demand environment.
Adani-Sirius JV acquire cloud platform firm Coredge.io
Mumbai: Sirius Digitech Limited, a joint venture between the Adani Group and Sirius International Holding (Sirius), announced on Tuesday the signing of binding agreements to acquire Coredge.io Private Limited, a cloud platform company.
SpiceJet's CFO Ashish Kumar resigns; Joyakesh Podder appointed Deputy CFO
Mumbai: SpiceJet announced on Tuesday that Chief Financial Officer Ashish Kumar will be departing the company to pursue other opportunities.
Taiwanese firms transfer supply chains to India amid growing tension with China: Report
New Delhi: Taiwanese firms are relocating their supply chains from China to India as Taipei and New Delhi strengthen economic ties, according to the head of Taiwan's main trade body, reported Reuters.
India aims to become leading aviation hub with $4 billion MRO Industry by 2030: Rammohan Naidu
Union Civil Aviation Minister Kinjrapu Rammohan Naidu has announced the implementation of a uniform IGST rate of 5% on all aircraft and aircraft engine parts, effective from today,15th July 2024.
Apple registers 33 percent jump in revenue in India
Marking a swift growth, Apple's annual sales in India touched a record of nearly $8 billion.
New Delhi releases 'Report of India’s G20 Task Force on Digital Public Infrastructure’, aims at strengthening foundations of DPI worldwide
The final ‘Report of India’s G20 Task Force on Digital Public Infrastructure’ by ‘India’s G20 Task Force on Digital Public Infrastructure for Economic Transformation, Financial Inclusion and Development’ was released in New Delhi, on Monday.
Vedanta Limited to use Rs 8,000-crore QIP to repay Oaktree Capital, Deutsche Bank, Union Bank debts
Mumbai: Vedanta Limited plans to use the proceeds from its Rs 8,000-crore Qualified Institutional Placement (QIP) offer to partially or fully repay its debt to Oaktree Capital, Deutsche Bank, and Union Bank of India, according to the offer documents filed by billionaire Anil Agarwal’s company, media reported.
SBI unveils “Amrit Vrishti” term deposit scheme for 444 days
State Bank of India has launched a new term deposit scheme named "Amrit Vrishti".
Indian travellers in Qatar can soon make UPI payments
NPCI International Payments Limited (NIPL) has signed an agreement with QNB, the largest financial institution in the Middle East and Africa, headquartered in Qatar, to launch QR code-based Unified Payments Interface (UPI) payments across the country.
Bajaj Auto Q1 FY25 profit grows 18% YoY to Rs 1,941.79 cr
Mumbai: Bajaj Auto Ltd on Tuesday reported an 18% year-on-year increase in its consolidated net profit for Q1 FY25, reaching Rs 1,941.79 crore, driven by steady demand, strong two-wheeler sales, and higher realizations.
NCAER, IEPFA organise workshop on investor education and protection in collab with MDI Gurgaon
Gurgaon: NCAER and IEPFA, in association with MDI Gurgaon, organised a workshop on investor education and protection with the focus on equipping the youth with necessary skills and knowledge to navigate through the complexities of the modern financial landscape.
Sanstar Limited’s Initial Public Offering to open on Friday, price band set at Rs. 90 to Rs.95 per Equity Share
Sanstar Limited is one of the major manufacturers of plant-based speciality products and ingredient solutions in India for food, animal nutrition and other industrial applications, has fixed the price band of Rs. 90/- to Rs.95/- per Equity Share of face value Rs.2/- each for its maiden initial public offer.
India's Wholesale Price Index rises to 3.6 percent in June
India’s Wholesale Price inflation (WPI) for the month of June 2024 has accelerated to 3.6 per cent compared to 2.61 per cent in the previous month, as per the Indian government released data on Monday.
Tata Motors ‘Automotive Skill Labs’ initiative nurtures over 4000 students annually with future-ready automotive skills
Reaffirming its commitment to nurturing talent and creating a skilled workforce for the automotive industry, Tata Motors’ in collaboration with Navodaya Vidyalaya Samiti (NVS) has established dedicated ‘Automotive Skill Labs’ at Jawahar Navodaya Vidyalayas(JNVs).
EV sector seeks incentives and tax rationalisation from Union Budget 2024: Report
New Delhi/IBNS: With Union Finance Minister Nirmala Sitharaman scheduled to present the Union Budget 2024 on July 23, India's electric vehicle (EV) industry is optimistic about potential announcements that could spur industry growth, reports ANI.
Tata Curvv, Curvv EV to be launched in India on August 7: Reports
Mumbai/IBNS: Indian multinational automotive company Tata Motors has been actively promoting its upcoming Curvv coupe SUV on its various social media handles.
Foreign investors pump in Rs 15,352 cr in Indian equities in first two weeks of July
Mumbai/IBNS: Foreign investors infused Rs 15,352 crore into Indian equities during the first two weeks of July 2024.
Google parent Alphabet in talks to securing $23 billion deal for cybersecurity leader Wiz: Report
Washington/IBNS: American tech giant Google's parent company, Alphabet, is in advanced talks to secure the monumental acquisition of the cybersecurity firm Wiz for an estimated $23 billion, Reuters reported, citing an insider who shared details on Sunday under the condition of anonymity.
Bitcoin surpasses USD 60,000 following attack on former US President Donald Trump
Bitcoin has jumped higher after an assassination attempt was made on former US President Donald Trump during a rally in Pennsylvania.
Coal India eases e-auction norms; plans to change auction and allocation methodology
Kolkata: Maharatna coal giant Coal India Limited (CIL) on Friday announced that it has implemented measures to relax e-auction norms, such as reducing the earnest money requirement and increasing the quantity of coal available.
CCI probe alleges Apple exploited its dominant position in the app store market
New Delhi: An investigation by The Competition Commission of India (CCI) has concluded that Apple exploited its dominant position in the app store market on its iOS operating system, engaging in "abusive conduct and practices," Reuters reported.
Chandrababu Naidu holds meeting with BPCL team and VinFast aiming 'large scale investment and job creation' in Andhra Pradesh
Vijayawada/IBNS: In a bid to "rebuild" his state after storming back to power, Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday held a couple of meetings with an aim to bring investment and create jobs.
RBI cautions banks against 'lakhs of accounts' used for fraudulent transactions, loan evergreening
New Delhi/IBNS: The Reserve Bank of India (RBI) has cautioned banks against having "lakhs of accounts" used for fraudulent transactions and loan accounts' evergreening, media reports said.
SEBI to review recommendations for formation of panel on futures and options to mitigate increasing leverage and volatility
Mumbai: The Secondary Market Advisory Committee (SMAC) formed by the Securities and Exchange Board of India (SEBI) is scheduled to meet on July 15 to review recommendations from an expert panel focused on futures and options, NDTV profit reported.
Central govt employees may get 50% of their last drawn salary as pension under NPS: Report
New Delhi: As the Finance Ministry prepares to present the full fiscal year budget for 2024-25, the National Democratic Alliance (NDA) government is considering offering central government employees a pension equivalent to 50% of their last drawn salary under the National Pension System (NPS), according to a report by the Times of India.
Latest RBI job data reveals India's employment growth rate accelerates to 6% in FY24
New Delhi/IBNS: A data released by the Reserve Bank of India (RBI) on Monday (July 8) showed that nearly 4.67 crore new jobs were created in India during the financial year 2023-24 taking the total number of employed persons in the country to 64.33 crore.