Ola Electric IPO: Bhavish Aggarwal-led company raises Rs 2,763 crore from QIPs
Mumbai: Ola Electric, India's largest electric two-wheeler manufacturer, allocated 364 million shares to anchor investors, raising Rs 2,763 crore, media reports said.
Finance
Ransomware attack on technology service provider hits 300 small banks across India: Report
New Delhi/IBNS: A ransomware attack on an Indian technology service provider has forced payment systems across nearly 300 small local banks in the country to shut down temporarily, Reuters reported, citing two sources directly aware of the matter.
Infosys shares drop 1% after IT major slapped with Rs 32,403 crore GST notice for overseas expenses
New Delhi/IBNS: Shares of Indian multinational information technology company Infosys dropped 1 percent to the day's low of Rs 1,845.40 on BSE on Thursday (Aug 1) after the IT major was slapped with a RS 32,403 crore Goods and Services Tax (GST) notice by the Directorate General of GST Intelligence over overseas expenses, reports said.
Stock market: Nifty crosses 25,000 for first time, Sensex at all-time high
Mumbai/IBNS: Indian stock markets opened at a record high on Thursday (Aug 1), with benchmark indices Nifty starting at 25,030.95 after gaining 92.15 points, or 0.37 percent, and BSE Sensex surged to a record high of 82,082 after opening at 81,949.68 points, with a gain of 208.34 points, or 0.25 percent, from the previous close.
Adani Enterprises set to launch first-ever public bond issue: Report
Mumbai: Adani Enterprises, the flagship company of the Adani Group, is set to launch its first-ever public bond issue in the coming weeks, aiming to raise up to Rs 600 crore ($71.7 million), Reuters reported, citing two sources familiar with the development.
Tata Steel Q1FY25 net profit rises 51.4% YoY to Rs 959.61 cr
Mumbai: Tata Steel announced a 51.4 percent year-on-year increase in consolidated net profit to Rs 959.61 crore for the first quarter ended June 2025 (Q1 FY25) on the back of the company's operations in the Netherlands returning to normal levels.
Sajjan Jindal-led JSW Cement considering promoter stake purchase in Orient Cement
Mumbai: Sajjan Jindal-led JSW Cement has launched a bid to acquire the promoter stake in Orient Cement Ltd (OCL) from CK Birla, according to a report by The Economic Times.
Coal India Q1FY25: Net profit grows 4% YoY to Rs 10,959 cr; raw coal prodn rises 189.3 MT
Kolkata: National miner Coal India Limited (CIL) reported a 4.1 percent year-on-year increase in consolidated net profits for the first quarter (April-June) of the financial year 2024-25 (FY25), amounting to Rs 10,959 crore, media reports said.
India's 8 core sectors grow lowest in 20 months
New Delhi: The growth in the production of eight key infrastructure sectors in India slowed to a 20-month low of 4 percent in June, according to official data released on Wednesday.
Bank of Baroda Q1FY25: Profit grows 9.5% YoY to Rs 4,458 cr; NII Rs 11,600 cr
Mumbai: State run lender Bank of Baroda (BOB) on Wednesday reported a standalone net profit of Rs 4,458 crore for the first quarter of the fiscal year 2025 (Q1FY25), up 9.5% from Rs 4,070 crore in the same period last year (Q1FY24).
Gautam Adani-led Adani Group planning investment Vietnam's airports
Hanoi: Gautam Adani-led Adani Group is exploring investments in two airports in Vietnam, Reuters reported, citing a statement by the Vietnamese government on Wednesday.
Tata Group cancels stake acquisition in Chinese phone maker Vivo India as Apple objects deal: Report
Mumbai: The Tata Group's attempt to acquire a majority stake in Vivo's India business has faced challenges due to objections from Apple, according to a Times of India report.
Intel planning to cut thousands of jobs in cost-saving move: Report
California/IBNS: American tech major Intel Corporation is likely to announce layoffs for thousands of employees as early as this week, Bloomberg reported, citing sources in the know.
Byju's reaches settlement with BCCI, Riju Raveendran to pay the dues: Report
Bengaluru: Byju's founder, Byju Raveendran, and the Board of Control for Cricket in India (BCCI) have settled their dispute over outstanding payments, media reports said.
Govt likely to raise STCG tax above 20% in future, says official
New Delhi/IBNS: The government is likely to consider further raising the short-term capital gain (STCG) tax rates in the coming years, Moneycontrol reported quoting a senior government official.
Crypto industry body BWA to create internal groups for cybersecurity, consumer issues after WazirX's $230 mn cyberattack: Report
New Delhi/IBNS: In the wake of WazirX’s $230-million security breach, India's crypto and web 3 industry body Bharat Web3 Association (BWA) is creating two new internal groups focused on cybersecurity and consumer issues, MoneyControl reported quoting BWA chairman Dilip Chenoy.
Nitin Gadkari writes to Finance Minister, seeks withdrawal of 18% GST on life, medical insurance premiums: Report
New Delhi/IBNS: Nitin Gadkari, the Union road, transport and highways minister, has written to finance minister Nirmala Sitharaman, seeking withdrawal of the 18 percent Goods and Services Tax (GST) on life and medical insurance premiums, reports MoneyControl.
Adani Energy Solutions raises $1 bn via QIP issue, first since Hindenburg row
Mumbai/IBNS: Marking a market return, Adani Group's power transmission unit Adani Energy Solutions Ltd on Tuesday (July 30) raised $1 billion through a share sale, reports said.
Jupiter Wagons Ltd Q1FY25: PAT grows 40% YoY to Rs 8,923 lakh
Kolkata: Jupiter Wagons Ltd reported a profit after tax (PAT) of Rs 8,923 lakh, representing a 40.3% year-on-year increase, with a PAT margin of 9.9%.
Akums Drugs IPO fully subscribed on first day, driven by retail and NII; check GMP
Mumbai: The retail portion of Akums Drugs and Pharmaceuticals Ltd's initial public offering (IPO) was fully subscribed within an hour of opening, media reports said.
Jindal Stainless Q1FY25 profit falls 12% to Rs 646.07 cr
Mumbai: Jindal Stainless Ltd (JSL) on Tuesday posted a 12 percent fall in consolidated net profit to Rs 646.07 crore during June quarter, mainly on account of lower income. It had clocked Rs 737.58 crore net profit in the year-ago period, media reported, citing an exchange filing.
Vedanta gets approval of its 75% secured creditors for demerger
Mumbai: Mining conglomerate Vedanta announced that 75 percent of its secured creditors have approved its proposed demerger of businesses, a major milestone in the company's strategy to separate into six independent listed entities.
SEBI proposes to expand the definition of 'connected persons' in insider trading
Mumbai: Capital markets regulator Securities and Exchange Board of India (SEBI) has issued a consultation paper proposing to expand the scope of insider trading regulations to include more individuals, even those who may have unofficial connections with company officials who possess price-sensitive information, media reports said.
Punjab & Sind Bank Q1FY25 profit grows 19% to Rs 182 cr
New Delhi: Punjab & Sind Bank reported net profit of Rs 182 crore, up 18.95% YoY.
GAIL Q1FY25: Net profit rises 78% to Rs 3,183 cr
Mumbai: State-run GAIL reported a consolidated net profit of Rs 3,183 crore for the quarter ending June 2024, up 78% from the Rs 1,793 crore recorded in the same quarter the previous year, media reports said.
BCCI in settlement talks with Byju Raveendran over outstanding payments
Bengaluru: The Board of Control for Cricket in India (BCCI) informed the National Company Law Appellate Tribunal (NCLAT) on Tuesday that it is engaged in preliminary settlement discussions with Byju Raveendran to resolve a dispute with Think and Learn Private Limited, a Moneycontrol report said.
30% of GenAI projects will be abandoned after proof of concept by end of 2025, predicts Gartner
Sydney/IBNS: At least 30 percent of generative AI (GenAI) projects will be abandoned after proof of concept by the end of 2025, due to poor data quality, inadequate risk controls, escalating costs or unclear business value, according to American technological research and consulting firm Gartner.
Indian Oil Corp Q1FY25 profit declines 81% YoY to Rs 2,643 cr
Mumbai: Indian Oil Corp reported an 81% decline in its standalone net profit for the first quarter, amounting to Rs 2,643 crore, compared to Rs 13,750 crore in the same quarter last year.
Apple to make iPhone 'Pro' models in India for the first time
New Delhi/IBNS: American tech giant Apple is all set to expand its manufacturing footprint in India by making high-end iPhone "Pro" models in the country for the first time, reports MoneyControl.
Piyush Goyal rules out change in govt's stance on Chinese FDI
New Delhi: Commerce Minister Piyush Goyal stated Tuesday that the Indian government is not reconsidering its position on foreign direct investment (FDI) from China, indicating that the country may continue to impose stricter scrutiny on investments from Beijing, media reports said.