SIP flows scale Rs 20,000 crore mark 1st time

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Sensex witnesses year's 2nd biggest fall, back at January level

From an intra-day low at 72,334, sensex closed at 72,404, down 1,062 points. It was the second biggest fall this year. Nifty lost 345 points to close at 21,958 points. "Investors turned risk averse in the ongoing poll season and further lightened equity exposure to avoid being caught off guard," said Prashanth Tapse, Senior VP (Research), Mehta Equities.

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TVS Credit reports 33% growth in Q4 FY24 PAT

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From teens to seniors: RBI talks UPI scale-up with companies

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Japanese financial company SMFG to invest Rs 1.3k crore in Indian arm

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Rural FMCG demand outpaces urban for 1st time in over 2 years

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India now net exporter of medical consumables

The country exported consumables and disposables worth $1.6 billion, while it imported products worth only about $1.1 billion in 2022-23, Union pharma secretary Arunish Chawla said on Tuesday. Exports went up 16% compared with the previous fiscal, while imports fell 33%. India is known as pharmacy of the world because of its generic medicines and low-cost vaccines.

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HC relief for holding companies facing GST notices over corporate guarantees

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Inclusion of foreign workers in PF unconstitutional: High Court

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Kotak Bank sees Rs 300-500 crore hit to profit from RBI curbs

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Millennial, Gen Z homes spur Q-commerce growth

In the past one year, half the new customers that we have added are all pure play quick commerce customers, who often do not make planned purchases and end up buying 4-15 times a month from our platform,” said Seshu Kumar Tirumala, chief buying and merchandising officer at BigBasket. Goldman Sachs said Blinkit's implied valuation - estimated at $13 billion - is now higher than that of parent Zomato's core food delivery business, indicating the rapid growth of the segment.

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Berkshire pares huge Apple stake

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ENIL revenue rises 13.6% to 500 crore for FY24

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Patym parent co president and COO quits

One97 Communications (OCL), which owns brand Paytm, on Saturday said the company's president and chief operating officer (COO) Bhavesh Gupta has resigned from his position. Gupta, whose resignation comes amid a series of recent top level exits at the Noida-based fintech, will however move to an advisory role in the CEO office. Gupta quit citing personal reasons and his last day with the organisation-which has come under regulatory scrutiny due to non-compliance at its banking unit-will be on May 31.

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NSE Q4 net profit jumps 20% to Rs 2,488 crore

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7 of 10 listed Adani companies get Sebi notices

Seven out of the 10 Adani group companies listed have been issued showcause notices by the market regulator Sebi for suspected breaches of different regulations, such as disclosure and related-party transaction norms. The companies that were served with the notices stated that the notices do not have any significant effect on their operations.

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Byju's links pay of sales staff to weekly revenue

Byju's implements weekly revenue-based payments for sales staff due to cash shortage. Employees receive a percentage of generated revenue till at least May 21, with performance pressure and potential payout suspension for underperformance.

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Freshworks founder quits as CEO, stock tanks 25% in US

Freshworks CEO Girish Mathrubootham steps down, focusing on product development. Dennis Woodside to lead as new CEO. Stock drops 25% in after-hours trading. Company aims to strengthen India presence under Girish's guidance.

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US Fed holds rates with eye on inflation

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Godrej camps can’t compete for 6 years, except in real estate business

The Godrej family has agreed to refrain from competing with each other for six years, except in the real estate business, after a division in the 127-year-old locks-to-land development group. Once the non-compete period is over, they can explore each other's areas of business, but not using the Godrej brand.

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Jamshyd, Smita keep construction rights on 3,000-acre Godrej land

As a result of a family agreement, siblings Jamshyd Godrej and Smita Crishna will have sole rights to develop on more than 3,000 acres of land owned by Godrej & Boyce Manufacturing Company in the eastern suburbs of Mumbai, establishing G&B as the largest private landholder in Mumbai. The land was an issue of contention as Godrej Properties Ltd (GPL).

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Sensex hits 75,000 mark again in day’s trade

Benchmark indices sensex and Nifty closed lower on Tuesday because there was a selloff in banking and IT shares in the last hour of the session amidst a mixed trend in global markets. The Sensex dropped by 189 points to reach a closing value of 74,483. The index started with an increase and continued to rise by 440 points, reaching a peak of 75,111 during the day's trading.

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Incomplete KYC: 1.3 crore investor accounts on hold

KYC registration entities, known as KRAs in the market, stated on Tuesday that out of approximately 11 crore investors under Sebi’s regulatory oversight, around 1.3 crore accounts are currently ‘on hold’ (indicating that these investors are unable to carry out transactions in stocks, MFs, and commodities using these KYCs) due to non-compliance with Sebi regulations for various reasons.

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Gunnebo expands its Halol plant capacity by 50% making it largest safe storage products factory in India

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Increasing global uncertainties may impact demand, India's exports: FIEO

The escalating geopolitical tension may have implications for the country's exports in the first quarter of 2024-25 as it is likely to impact global demand, apex exporters body Fieo said. The global uncertainties caused by the continuing war between Russia and Ukraine have impacted India’s outbound shipments in 2023-24, which recorded a decline of 3.1% to $437 billion. Imports too dipped by over 8% to $677.2 billion.

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Wipro CEO Pallia to get $4.5 million to $7 million in annual salary

Srini Pallia, Wipro's newly-appointed CEO, is set to receive an annual compensation package ranging from $4.5 million to $7 million, as disclosed in the shareholders' notice posted on the BSE on Monday. Pallia, a 32-year veteran of the company, assumed the role of CEO and MD on April 7 for a five-year term. He succeeds Thierry Delaporte, who departed before his tenure was scheduled to conclude in 2025.

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'Nestle working on Cerelac with no sugar content'

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Beyond Rs 76k-crore: Government to scale up semiconductor package

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Days after putting off trip to India, Musk visits China, meets Premier Li

On a surprise visit to Beijing amid speculation that he may unveil Tesla's autonomous driving technology in the burgeoning electric vehicle (EV) market in China, billionaire Elon Musk on Sunday met Chinese Premier Li Qiang and discussed future expansion plans for his automobile. Li told Musk that China's huge market will always be open to foreign-funded enterprises.

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No Service Tax liability for BookMyShow on transactions with credit card companies

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Trials for short distance Vande Metro trains to begin in July, for Vande Bharat sleeper in May

Indian Railways is gearing up to commence trial runs of short-distance Vande Metro trains in July, alongside the launch of the sleeper version of Vande Bharat next month. The Vande Metro trains are slated to operate on routes spanning 100-250 kilometers, while the Vande Bharat Sleeper trains will be designated for routes exceeding 1,000 kilometers. Officials indicate that the Vande Metro trains will establish connections across approximately 124 cities.

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Yes Bank net rises 123% quarter-on-quarter to 452 crore in Q4

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ICICI Bank Q4 net profit jumps 17.4% to 10,708 crore, asset quality improves

ICICI Bank, the second-largest private lender, has reported a net profit of Rs 10,708 crore for the quarter ended March 2024, marking an increase of 17.4%, surpassing analyst forecasts. The bank’s board has recommended a dividend of Rs 10 per share. At the end of the quarter, the bank’s deposits stood at Rs 14,12,825 crore, up by 19.6% from March 2023.

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Mandatory service charge 'unfair', Mum eatery told to refund amount

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TOI bags 6 awards for campaigns at INMA 2024

The Times of India has won big at International News Media Association (INMA) 2024, bagging six awards for its campaigns which blended ideas with creativity to spread awareness about issues affecting peoples’ daily lives, such as traffic safety and alternatives to single-use plastic. The INMA competition, which evaluates news media companies across two segments of national brands and regional brands, attracted 771 entries from 245 news media brands in 43 countries.

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Essel Homes, Primcomm face insolvency proceedings

The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency resolution proceedings against Essel Homes and Primcomm Media Distribution Ventures after Gnex Realtech defaulted on repayment of loans of nearly Rs 261 crore to Indiabulls Housing Finance. Essel Homes and Primcomm were the co-borrowers, and NCLT has appointed Ravi Prakash Ganti as the interim resolution professional (IRP).

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India’s first: Japanese Sharp looks to set up display fab unit

India is headed to bag investments for the country’s first display fab semiconductor unit – used for making televisions and other digital screens – with Japanese Sharp approaching the Central govt for setting up a 1,000-acres facility that will be used to cater not just to the domestic demand but also exports.

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Relief for lessors: Delhi high court directs DGCA to de-register 54 GoAir planes

The lessors of 54 aircraft to grounded-since-last May GoAir finally got relief on several counts from the Delhi high court on Friday which directed the Directorate General of Civil Aviation (DGCA) to de-register these planes within a maximum of five working days. The revival of GoAir under IBC is now an even tougher task as the lessors are learnt to be wooed by both Tata’s Air India and cash-rich IndiGo to get around 15 of the Airbus A320 family planes which could fairly quickly be made airworthy.

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ICICI blocks 17k cards over glitch

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Axis pips Kotak Bank as 3rd most valued private bank

Axis Bank overtook Kotak Mahindra Bank on Thursday to become India's third most valued private lender after a rout in the latter's stock. Kotak Bank's stock opened deep in the red on Thursday a day after RBI restricted the lender from onboarding customers digitally and issuing credit cards, citing repeated failures to fix "serious deficiencies" in its IT system.

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Vi got a new lease of life, says Birla

Aditya Birla Group chairman Kumar Mangalam Birla said the Rs 18,000-crore fund-raise has given Vodafone Idea a "fresh lease of life", and set the stage for a "smart turnaround". "Vi is not just a telecom company, it's a national asset with 215 million users and about 8,000 MHz spectrum," said Birla. Investors in Vodafone Idea made a 26% return within a week as the shares of the telecom services company, which were offered at Rs 11 apiece in an FPO, closed at Rs 13.9 on the BSE.

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AI inside most apps you use

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Infosys narrows revenue gap with Cognizant

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Tanker, insurance rates unmoved by Israel-Iran conflict

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How India's digital public infrastructure can push inclusive global growth

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RBI: Heatwaves, geopolitical tensions may stoke inflation

According to Tuesday's state of the economy report by the RBI, extreme weather events and persistent geopolitical tensions may contribute to inflation risks, while also potentially causing fluctuations in crude oil prices. The report highlighted a positive trend in real GDP growth, supported by robust investment demand and optimistic sentiments among businesses and consumers.

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TikTok has submitted risk assessment report on TikTok Lite to EU

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Startups raise $2 billion in Q4, 40% less than a year ago

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RIL's Q4 profit flat at Rs 21k crore, revenue rises 11% to Rs 2.4 lakh crore

Reliance Industries reported a nearly unchanged quarterly profit, while its revenue increased by 11% to Rs 2.4 lakh crore. This growth was driven by the robust performance of its oil & gas and oil-to-chemical (O2C) segments, as well as the rapid expansion of its retail and digital services (Jio) divisions. The company recorded a profit of Rs 21,243 crore in the fourth quarter of FY24.

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HDFC Bank CEO tells investors, gains to follow transition era

HDFC Bank CEO Sashidhar Jagdishan has urged investors to exercise patience during the bank's transition, likening it to the construction of Mumbai's coastal road. He assured that benefits would emerge in due course following this phase of transition. In an investor call following the bank's results, Jagdishan emphasized the bank's objective of securing the sustainability of its deposit franchise.

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TCS links variable pay to work from office

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