Foxconn eyes expansion in India, plans Apple iPad assembly in Tamil Nadu plant 'soon': Report
Jul 26, 2024, at 05:45 pm
New Delhi/IBNS: Foxconn has been eyeing major expansion in India as the Taiwanese tech major is planning to assemble Apple's flagship tablet iPad at its Sriperumbudur facility in Tamil Nadu, according to a report by the Economic Times.
Foreign investors pull out $1.27 billion from Indian stock market after Union Budget
Jul 26, 2024, at 05:10 pm
Mumbai/IBNS: Foreign portfolio investors (FPIs) have taken out almost Rs 10,710 crore ($1.27 billion) from the Indian stock market in the last three days after the government, in the Union Budget, raised taxes on derivatives trades and on capital gains from equity investments, reports said.
Canara Bank Q1FY25: Profit grows 11% YoY to Rs 3,905 cr; NII grows 6%
Jul 26, 2024, at 07:22 am
Bengaluru: State-run lender Canara Bank Thursday reported a 10.5 percent YoY growth in net profit at Rs 3,905.28 crore in the Q1FY25, compared to Rs 3,535 crore in the same period last year.
Tata Motors’ market capitalization surpasses Rs 4 trillion
Jul 26, 2024, at 04:21 am
Mumbai: Tata Motors’ market capitalization crossed Rs 4 trillion for the first time on Thursday.
IPO-bound Ola Electric suspends electric car project: Report
Jul 26, 2024, at 03:22 am
Bengaluru: India's IPO-bound Ola Electric has paused its plans to launch electric cars, choosing instead to concentrate on its e-scooter business, according to a Reuters report.
Govt to cover MTNL's bond payments amid liquidity crisis: Report
Jul 26, 2024, at 02:39 am
New Delhi: The government will handle all future bond payments for Mahanagar Telephone Nigam Ltd. (MTNL) as the state-owned company deals with a liquidity crisis, according to a Bloomberg report.
Ashok Leyland Q1FY25 profit slumps 9% to Rs 526 cr; revenue rises 5%
Jul 26, 2024, at 01:54 am
Chennai: Hinduja Group company Ashok Leyland reported an 8.7 percent decline in standalone net profit at Rs 525.58 crore in the first quarter of FY25, compared to Rs 576.42 crore in the corresponding period of previous financial year.
A Boost for Angel Investors, Start-ups, and Real Estate says Laxman Jaiswal on the Union Budget 2024
Jul 25, 2024, at 07:17 pm
Eastern India’s leading Infra and e-commerce start up founder, Laxman Jaiswal said in a statement that the Union Budget of India for the fiscal year 2024 has been widely anticipated for its potential impact on various sectors, including angel investors, start-ups, and real estate.
Jul 25, 2024, at 06:51 am
New Delhi: Global credit rating agencies have praised the FY25 Budget for maintaining a strong commitment to reducing fiscal deficit. Moody's Ratings highlighted that the Budget is viewed as a positive development for the country's credit outlook, media reports said.
RBI changes regulatory framework for domestic money transfer services
Jul 25, 2024, at 05:02 am
Mumbai: The Reserve Bank of India (RBI) has updated the regulatory framework for domestic money transfer services, tightening Know Your Customer (KYC) requirements for regulated entities.
Federal Bank Q1FY25 net profits grows 18% YoY to Rs 1009 cr
Jul 25, 2024, at 04:51 am
Mumbai: Federal Bank registered net profit of Rs 1009.53 crore for the quarter ended 30th June 2024, up 18.25 % YoY.
L&T Q1 FY25 net profit rises 12% to Rs 2,786 cr
Jul 25, 2024, at 04:12 am
Mumbai: L&T reported a 12% increase in profit after tax (PAT) to Rs 2,786 crore for the June quarter, up from Rs 2,493 crore in the same period last year.
SBI Life Insurance Q1FY25: Net profit grows 36% YoY to Rs 519 cr; Value of New Business up by 12%
Jul 25, 2024, at 02:28 am
Mumbai: SBI Life Insurance reported a net profit of Rs 519 crore for the June quarter, up 36% YoY compared to the same period last year.
Axis Bank Q1FY25: Net profit grows to Rs 6,035 cr; NII grows 12%
Jul 25, 2024, at 01:11 am
Mumbai: Axis Bank reported a net profit of Rs 6,035 crore for the first quarter of FY25, an increase from Rs 3,452 crore in the same quarter of the previous year, surpassing market expectations.
Tata, Airbus sign contract to establish H125 Final Assembly Line in India
Jul 24, 2024, at 11:16 pm
Tata Advanced Systems Limited (TASL), a private sector player for aerospace and defence solutions, and Airbus Helicopters have formalised the contract to establish the H125 Final Assembly Line (FAL) in India.
Ola Electric IPO likely in August; company aims to raise $740 million
Jul 24, 2024, at 11:12 pm
Bengaluru: Ola Electric, led by Bhavish Aggarwal and backed by Japanese investment giant Softbank, is preparing to launch its highly anticipated initial public offering (IPO) as early as the first half of August, according to multiple industry sources cited by Moneycontrol.
Jul 24, 2024, at 05:22 am
New Delhi: The Indian Railways received a 2 percent increase in its capital expenditure (capex) allocation in the Union Budget of 2024-25, reaching a record Rs 2.652 trillion, up from Rs 2.6 trillion in the Revised Estimate (RE) for 2023-24.
Gold, silver prices plummet by Rs 4,000 after budget slashes custom duty
Jul 24, 2024, at 04:07 am
New Delhi: Finance Minister Nirmala Sitharaman announced a significant reduction in customs duties on gold and silver during her Budget presentation on Tuesday.
Budgets 2024-25: Key benefits Finance Minister Nirmala Sitharaman announced
Jul 24, 2024, at 03:18 am
New Delhi: Union Finance Minister Nirmala Sitharaman on Tuesday announced some key benefits for people in Budget 2024-25.
Real estate stocks fall after Budget removes indexation benefit on LTCG
Jul 24, 2024, at 01:01 am
Mumbai: Real estate stocks dropped following Finance Minister Nirmala Sitharaman's proposal to remove the indexation benefit for calculating long-term capital gains tax (LTCG) on real estate.
Jul 24, 2024, at 12:48 am
The Indian Government will launch a comprehensive scheme for providing internship opportunities in top companies, Union Minister Nirmala Sitharaman announced on Tuesday.
Union Budget: Government will implement 3 schemes for 'Employment Linked Incentive'
Jul 23, 2024, at 11:46 pm
The Government will implement 3 schemes for ‘Employment Linked Incentive’, as part of the Prime Minister’s package.
Union Budget: Land reform and actions to be incentivised for completion within next 3 years
Jul 23, 2024, at 11:42 pm
While presenting the Union Budget 2024-25 in Parliament on Tuesday, the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman said land-related reforms and actions, both in rural and urban areas, will be incentivized for completion within the next 3 years through appropriate fiscal support.
Jul 23, 2024, at 11:13 pm
New Delhi: Finance Minister Nirmala Sitharaman presented the 2024-25 Budget on Tuesday, her seventh consecutive budget presentation and setting a new record, surpassing former Prime Minister Morarji Desai. This budget is the first of Prime Minister Narendra Modi's third term. Sitharaman underscored the government's success in maintaining economic stability.
Jul 23, 2024, at 10:20 pm
Union Finance Minister Nirmala Sitharaman has announced several measures to step up adoption of technology towards digitalization of the economy.
Jul 23, 2024, at 10:11 pm
Union Minister for Finance & Corporate Affairs Nirmala Sitharaman announced a financial support for loans upto Rs. 10 lakh for higher education in domestic institutions for helping youth who have not been eligible for any benefit under government schemes and policies.
Nirmala Sitharaman proposes abolishment of angel tax to bolster Indian start-up eco-system
Jul 23, 2024, at 10:02 pm
Union Finance Minister Nirmala Sitharaman proposed to abolish ‘angel tax’ for all classes of investors while presenting the Union Budget 2024-25 in Parliament on Tuesday.
Union Budget: New pension scheme named Vaysalya proposed for minors
Jul 23, 2024, at 09:50 pm
A new pension scheme named ‘Vatsalya’ has been proposed for minors by Union Minister for Finance & Corporate Affairs Nirmala Sitharaman in the Union Budget 2024-25 tabled in Parliament on Tuesday.
Union Budget: Indian government allocates Rs. 11,11,111 crore for capital expenditure
Jul 23, 2024, at 08:36 pm
Acknowledging the strong multiplier effect of building and improving infrastructure on the economy, the Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman while presenting the Budget 2024-25 in Parliament today announced the provisioning of ₹ 11,11,111 crore for capital expenditure.
Jul 23, 2024, at 08:08 pm
New Delhi/IBNS: While focusing on employment generation and rural development, the two components that supposedly cost the Narendra Modi government an absolute majority in its third consecutive term, the historic seventh Union Budget by Finance Minister Nirmala Sitharaman spent a considerable pie for Andhra Pradesh and Bihar, the two states ruled by major allies of the Bharatiya Janata Party (BJP)-led NDA, which returned to power with coalition strings attached.