India's diesel market signals warning as growth slows down
Mumbai/IBNS: India's diesel market is showing signs of a slowdown as demand growth loses steam, raising concerns for the world's third-largest oil importer, reports Bloomberg.
Finance
Mahindra debuts Electric Origin SUVs
Automobile major Mahindra is set to introduce two pioneering electric brands, XEV and BE (pronounced be), on the Electric Origin INGLO architecture, at the Unlimit India World Premiere on November 26 in Chennai.
FPIs withdraw Rs 94,000 crore from Indian equities in October in worst monthly outflow
Mumbai/IBNS: Foreign investors offloaded approximately Rs 94,000 crore ($11.2 billion) worth of Indian stocks in October, marking the worst monthly outflow to date, driven by India's high stock valuations and more attractive pricing in China, as per NSDL data.
Telangana: Swiggy fined Rs 35,000 for inflating delivery distance to overcharge customers
Hyderabad/IBNS: Leading food and grocery delivery platform Swiggy has been fined Rs 35,000 for allegedly inflating delivery distances to overcharge customers.
Swiggy IPO set to hit the Street on Nov 6: Key things to know before subscribing to the issue
Mumbai/IBNS: Swiggy, the leading food and grocery delivery platform, is gearing up for its stock market debut with the launch of its Initial Public Offering (IPO) next week.
Oil prices rise by over $1 as OPEC+ delays output hike
Beijing/IBNS: Oil prices saw further gains on Monday (Nov. 4), climbing more than $1 following OPEC+'s decision to delay a planned production increase by a month.
Google CEO Sundar Pichai speaks on the proposal of breaking up the tech giant
California/IBNS: During an earnings call this week, Google CEO Sundar Pichai conveyed confidence in the company’s legal stance while underscoring its commitment to broad accessibility for its products.
Afcons Infrastructure stock surges 8.9% after listing at discount on NSE
Mumbai/IBNS: Afcons Infrastructure shares rose by 8.9 percent to Rs 463.9 on the NSE following a weak market debut earlier this week.
Apple acquires Lithuanian-based photo editing app Pixelmator
California/IBNS: Apple has acquired Pixelmator, the Lithuanian-based company behind popular image editing apps like Pixelmator, Pixelmator Pro, and Photomator.
Adani Power cuts electricity supply to crisis-hit Bangladesh over unpaid bills: Report
Dhaka/New Delhi/IBNS: Adani Power Jharkhand Limited (APJL), a branch of Adani Power, has significantly reduced its electricity supply to Bangladesh due to unpaid bills totaling $846 million, as reported by Bangladesh's The Daily Star on Friday (Nov. 2).
US court allows Twitter's ex-CEO Parag Agrawal, other dismissed execs to sue Elon Musk for severance
California/IBNS: A US District Court judge in California has ruled that former Twitter executives, including ex-CEO Parag Agrawal, may proceed with a lawsuit against Elon Musk for severance pay, Bloomberg reported on Saturday (Nov. 2).
Google India's FY24 PAT stood at Rs 1,424.9 cr
Mumbai: Google India's profit after tax (PAT) in fiscal year 2023-24 stood at Rs 1,424.9 crore, according to documents released by Tofler on Friday.
Maruti Suzuki and Mahindra post record sales in October on festive demand surge
Mumbai: Indian automakers Maruti Suzuki India (MSI) and Mahindra & Mahindra (M&M) reported record monthly sales in October, fuelled by festive season demand.
India leads global growth with robust investment and consumption: IMF Report
New Delhi: India continues to lead as the world’s fastest-growing economy, driven by strong investment and private consumption, according to the International Monetary Fund's (IMF) Asia-Pacific Regional Economic Outlook released on Friday.
Partha Pratim Sengupta joins as new MD&CEO of Bandhan Bank
Kolkata: Partha Pratim Sengupta assumed charge as new MD&CEO of private lender Bandhan Bank with effect from Friday, the lender said.
GST collection hits six-month high at Rs 1.87 lakh crore, up 8.9% in Oct
New Delhi/IBNS: Goods and Services Tax (GST) collections reached a six-month peak of Rs 1.87 lakh crore in October, surpassing the Rs 1.7 lakh crore mark for the eighth straight month, according to data released on Friday (Nov. 1).
November comes with key changes — from advance train ticket booking rule to money transfer guidelines
New Delhi/IBNS: Starting November 1, 2024, a series of updates will bring significant changes across India, impacting everything from financial transactions to daily services.
Jet fuel prices rise 3.3%, fourth straight hike for commercial LPG in line with global trends
New Delhi: The price of jet fuel, or aviation turbine fuel (ATF), rose by 3.3% on Friday, while commercial LPG prices used in the hospitality sector increased by Rs 62 per 19-kg cylinder, reflecting adjustments to align with global oil price trends, media report said.
Tim Cook confirms plans to open four new Apple stores in India
California/IBNS: Apple CEO Tim Cook has announced plans to open four additional Apple Stores in India, following record-breaking quarterly revenue for the third quarter of 2024.
Saudi Arabia: Piyush Goyal participates in FII, highlights critical role of international partnerships and economic diplomacy
Union Minister of Commerce and Industry Piyush Goyal successfully concluded his visit to Saudi Arabia during which he participated in the Plenary Session of the 8th Edition of Future Investment Initiative (FII).
PM Economic Advisory Council chairman Bibek Debroy passes away at 69
New Delhi/IBNS: Bibek Debroy, the chairman of the Economic Advisory Council to the Prime Minister, has passed away at the age of 69, media reports said.
India shines in gold purchases, outpaces China by 51% in 3 months
New Delhi/IBNS: Indians bought a substantial 248.3 tonnes of gold between July and September 2024, which is 51 percent more than the 165 tonnes purchased in China during the same period, according to the World Gold Council’s latest data.
PepsiCo franchisee Varun Beverages to tap markets for Rs 7,500 cr QIP in November: Report
Mumbai/IBNS: Billionaire Ravi Jaipuria's Varun Beverages Limited, PepsiCo's largest bottling partner in India, plans to raise up to Rs 7,500 crore through a Qualified Institutional Placement (QIP) to attract funds from institutional investors, Moneycontrol reported on Thursday (Oct. 31), citing its sources.
HDFC Bank's NBFC arm HDB Financial Services files papers for Rs 12,500 crore IPO
Mumbai/IBNS: HDFC Bank announced on Thursday (Oct. 31) that its non-banking financial arm HDB Financial Services filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a potential IPO of up to Rs 12,500 crore (approximately $1.49 billion).
Swiggy IPO gets bids worth more than $15 billion from Norges, Fidelity, other big investors: Report
Bengaluru/IBNS: Major investors, including Norway’s sovereign wealth fund Norges and Fidelity, have placed bids exceeding $15 billion for Swiggy’s IPO, which is set to be launched next week, Reuters reported, citing its sources on Thursday (Oct. 31).
Aditya Birla Capital Q2 FY25 net profit rises 42% YoY to Rs 1,001 cr driven by strong lending and insurance growth
Mumbai: Aditya Birla Capital Ltd (ABCL) reported a remarkable 42% year-on-year increase in consolidated net profit for Q2 FY25, reaching Rs 1,001 crore, driven by strong growth in its lending and insurance sectors.
Sunil Mittal's Bharti Telecom to raise Rs 8,500 cr via domestic bond market: Report
Mumbai: Bharti Telecom Ltd., owned by billionaire Sunil Bharti Mittal, is planning to raise approximately Rs 8,500 crore (around $1.01 billion) in the domestic bond market, reported Bloomberg.
Welspun Enterprises Q2FY25 profit drops 11% YoY to Rs 61.56%
Mumbai: Welspun Enterprises has reported around 11 percent fall in consolidated net profit at Rs 61.56 crore for September quarter FY25 on account of higher expenses.
P&G Hygiene Q2FY25 profit rises marginally to Rs 212 cr
Mumbai: Procter & Gamble Hygiene and Health Care Ltd (PGHH) reported a slight increase of 0.57% in profit after tax, to Rs 211.90 crore for the first quarter ended September 2024, media reports said.
P&G Hygiene Q2FY25 rises marginally to Rs 212 cr
Mumbai: Procter & Gamble Hygiene and Health Care Ltd (PGHH) reported a slight increase of 0.57% in profit after tax, to Rs 211.90 crore for the first quarter ended September 2024, media reports said.