India's Oct retail inflation peaks 12-month record to 6.2%
New Delhi: India’s retail inflation reached a 14-month peak of 6.2% in October, up from 5.5% in September, driven primarily by escalating food inflation due to rising vegetable prices.
Finance
Hyundai Motor India's Q2FY25 profit drops 16.5% to Rs 1,338 cr
Mumbai: Hyundai Motor India, India’s second-largest automaker by market share, reported a 16.5% drop in quarterly profit, attributed to weaker domestic sales and export disruptions from Red Sea tensions, Reuters reported.
Air India completes merger with Vistara, creating India’s largest full-service carrier
New Delhi/IBNS: The Air India Group has successfully completed the operational integration and legal merger of Air India and Vistara, finalizing a major step in its post-privatization transformation.
Elon Musk's Starlink in the process of complying with security requirements: Telecom Min Jyotiraditya Scindia
New Delhi/IBNS: Elon Musk's Starlink is making progress with its license application in India, with Telecom Minister Jyotiraditya Scindia confirming on Tuesday (Nov. 12) that the Elon Musk-led company is working to fulfill government-mandated security requirements.
RIL to invest Rs 65,000 crore in Andhra Pradesh for 500 biogas plants
Mumbai/IBNS: Reliance Industries Ltd (RIL) is gearing up to make its largest investment outside of Gujarat, committing Rs 65,000 crore to construct 500 compressed biogas plants in Andhra Pradesh over the next five years, as reported by The Economic Times.
Elon Musk's Starlink agrees to data security rules, satcom license application back on track: Report
New Delhi/IBNS: Starlink’s application for an India license is advancing after the satellite broadband provider, led by Elon Musk, agreed to meet India's data localization and security requirements, Moneycontrol reported, citing its sources, on Monday (Nov. 11).
Govt to summon Flipkart, Amazon executives over FDI rules violations: Report
New Delhi/IBNS: The Indian government is set to summon executives from Flipkart and Amazon as part of an expanded investigation into potential violations of foreign investment regulations, according to a report by Reuters.
Monthly mutual fund SIP inflow hits all-time high, crosses Rs 25,000 crore mark for first-time
Mumbai/IBNS: Monthly contributions to mutual fund SIPs (Systematic Investment Plans) reached an all-time high of Rs 25,323 crore in October, surpassing September’s figure of Rs 24,509 crore.
Zomato CEO Deepinder Goyal impressed with Bengaluru man's suggestions on X for new feature, offers him job
New Delhi/IBNS: Zomato recently introduced a new feature called "Food Rescue" that lets users purchase cancelled food orders at a discount, a move aimed at reducing food waste.
Food Rescue: Zomato introduces new feature to reduce food wastage
New Delhi/IBNS: India's leading multinational restaurant aggregator and food delivery company Zomato has launched a new feature called "Food Rescue," which allows users to purchase cancelled food orders at a discounted price to help reduce food waste.
SEBI proposes amendments to Insider Trading and Disclosure Regulations to expand scope of info disclosed by listed companies
Mumbai/IBNS: To ensure companies follow rules on unpublished price sensitive information (UPSI) thoroughly, the Securities and Exchange Board of India (SEBI) is aiming to expand the list of corporate events that would qualify as UPSI.
Rupee slips to all-time low of 84.38 against US Dollar as Asia FX declines
Mumbai/IBNS: The Indian rupee hit a record low on Monday (Nov. 11), pressured by concerns over Donald Trump's US presidentiaL election victory that weighed on Asian currencies and ongoing outflows from Indian stocks impacting the local currency.
'Where sky isn't the limit, but just the beginning': Vistara bids goodbye today, with final flights before Air India merger
Mumbai/IBNS: Today (Monday, Nov. 11) marks the final day of operations for Vistara under its own brand, as the airline will transition to flying as part of Air India starting Tuesday (Nov. 12).
Bitcoin hits all-time record high over $81,000 as Donald Trump's win turbocharges cryptocurrencies
Mumbai/IBNS: Bitcoin has surged to a new record high, exceeding $81,000, following the election of US President-elect Donald Trump and his perceived support for digital assets, Bloomberg reported.
India set to benefit from Trump's possible tariff hike on Chinese imports: Report
New Delhi/IBNS: After Donald Trump's win in the US presidential election, a report from CareEdge suggests that India might gain from shifts in global trade if Trump proceeds with plans to impose hefty tariffs on Chinese imports.
Global oil prices could have skyrocketed without India’s oil purchases from Russia: Union Minister Hardeep Singh Puri
New Delhi/IBNS: Union Minister Hardeep Singh Puri emphasized that India’s decision to purchase oil from Russia has played a crucial role in preventing global oil prices from escalating even further.
Zinka Logistics sets IPO price range at Rs 259-273, aims to raise Rs 1,114 cr
Mumbai: Zinka Logistics Solutions Ltd has set a price range of Rs 259-273 per share for its initial public offering, opening for subscription on November 13.
Bridgestone India to invest $85 million to boost production, establish tech center in India
Kolkata: Japanese tyre giant Bridgestone Corporation announced a $85 million (around Rs 720 crore) investment to boost production capacity and capabilities at its two Indian plants.
Motherson Sumi Wiring India Q2FY25 net profit drops 3% to Rs 152 cr
Mumbai: Motherson Sumi Wiring India reported a 3% drop in net profit to Rs 152 crore for the quarter ending September 30, 2024, compared to Rs 156 crore in the same period last year.
Tata Motors Q2FY25 net profit falls 11% YoY to Rs 3,343 cr on weak JLR performance
Mumbai: Tata Motors Ltd. (TML) Q2 FY25 consolidated net profit fell 11% on-year to Rs 3,343 crore, driven by weak performance at its Jaguar Land Rover (JLR) unit and in its commercial vehicles segment.
Air India announces major changes in senior management ahead of merger with Vistara
Mumbai: Air India Group has announced several senior management changes as it prepares for the merger of Air India and Vistara, effective November 12.
Mining major Vedanta Ltd returns back to profit, reports Rs 4,352 cr profit in Q2FY25
Mumbai: Vedanta Ltd, led by billionaire Anil Agarwal, posted a net profit of Rs 4,352 crore for the September quarter, contrasting with a loss of Rs 1,783 crore in the same period last year, largely due to lower taxes.
Swiggy, Zomato flouted competition laws, CCI finds in probe: Report
New Delhi: An investigation by India’s Competition Commission (CCI) found that major food delivery companies Zomato and SoftBank-backed Swiggy violated competition laws through practices that favoured specific restaurants on their platforms, according to confidential CCI documents.
Pre-booking for Maruti Suzuki's 4th Generation Dzire is now open
Leading passenger vehicle manufacturer Maruti Suzuki India Limited (MSIL) recently commenced bookings for its highly anticipated 4th Generation Dzire.
SBI Q2FY25 net profit grows 28% YoY Rs 18,331 cr; NII at Rs 41,620 cr
Mumbai: State Bank of India (SBI) reported a substantial profit of Rs 18,331 crore, marking a 28% year-on-year increase and surpassing market expectations. crore.
Global patent filings reach record high driven by surge in applications from India
Mumbai/IBNS: India’s significant rise in patent filings helped propel global patenting activity to an all-time high in 2023, with the country entering the top ten for the first time.
Swiggy IPO Day 3: Online food delivery giant's Rs 11,300 crore issue gets fully subscribed
Mumbai/IBNS: Swiggy's IPO was fully subscribed on its final bidding day, Friday (Nov. 8), following a lukewarm response during the first two days of its Rs 11,327.43 crore offering.
Sagility India IPO share allotment expected today
Mumbai/IBNS: The share allotment for the Sagility India IPO is expected to be finalized later on Friday (Nov. 8).
Mukesh Ambani's Reliance Industries loses over $50 billion in market cap on earnings dismay
Mumbai/IBNS: Reliance Industries Ltd. has seen a decline of nearly $50 billion (Rs 4.2 lakh crore) in market capitalization since reaching a peak in July, as the Indian conglomerate contends with weaker earnings and a slowing economy, reports Bloomberg.
SaaS major Freshworks announces to lay off over 600 employees despite profits
California/IBNS: Freshworks, a Nasdaq-listed SaaS (Software-as-a-Service) firm, saw its shares surge over 28 percent following the release of its strong third-quarter results and the announcement of a $400 million share buyback programme.