CATEGORIES

UltraTech Q3 net up 68% to ₹1,777 cr, misses estimates

ULTRATECH CEMENT ON Friday posted a 67.9% rise in its consolidated net profit at 1,777 crore for the quarter ended December on improved operational efficiencies, but missed street estimates.

Jagrut Kotecha to lead PepsiCo India

PEPSICO INDIA ON Friday appointed Jagrut Kotecha as its chief executive officer (CEO) in a leadership rejig. Kotecha will assume charge in March 2024, the company said.

Tata Steel to shut UK blast furnaces

TATA STEEL WILL close two blast furnaces and coke ovens at its Port Talbot plant in the UK this year, a move that could result in potential job losses of 2,800 employees. Of the total, about 2,500 roles would be impacted in the next 18 months.

Go First fiasco: Wary aircraft lessors wait for legal shield

AFTER STRUGGLING TO get back their aircraft from Go First following the airline's abrupt stoppage of operations, lessors are seeking the legislative protection provided by the Cape Town Convention (CTC) to shield themselves from a repeat of the events.

Global economy moving towards normalisation

AS THE WORLD Economic Forum (WEF) Annual Meeting drew to a close, global leaders on Friday said the economy and trade appeared to be moving towards normalisation but were yet expected to be far from normal.

How to EValuate the TCO of EVs

FOR A BETTER part of my life, like most of us, I've been driving internal combustion engine (ICE) vehicles. But the last decade was different, as India transitioned towards electrification with a focus on reducing emissions and combating climate change.

Market open for trading today, closed on Monday

THE INDIAN STOCK market will have a full trading session on Saturday, a spokesperson for the National Stock Exchange told Reuters.

New AIF rules: RBI, Sebi mull exemptions

THE CENTRAL BANK and markets regulator are considering exemptions to recently tightened rules for bank-investments in alternate investment funds (AIFs) due to unintended consequences, three sources with direct knowledge of the matter said.

CASA ratio may return to peak in a year: South Indian Bank MD

THE CURRENT ACCOUNT savings account (CASA) ratio of South Indian Bank will likely return to its peak level of 34% in the next 12 months, according to managing director and chief executive officer P R Seshadri.

Forex reserves increase by $1.63 bn to $618.9 bn

INDIA'S FOREX RESERVES jumped $1.634 billion to $618.937 billion for the week ended January 12, the Reserve Bank of India (RBI) said on Friday.

RBL Bank net profit rises 12% in December quarter

RBL Bank on Friday reported net profit for the third quarter of FY24 at 233 crore, up 12% year-on-year, led by stable loan growth and asset quality.

Central Bank of India profit up 57%

Central Bank of India on Friday announced 57% year-on-year rise in net profit to ₹718 crore in the third quarter of the current financial year, supported by growth in non-interest income and fall in provisions for bad loans.

In talks for new date to seal merger: Zee

WHILE THE EXPECTED completion of the deal was December 21, 2023, Zee had sought a deadline extension, which Sony agreed on, to close the $10-billion merger.

Weak rural demand hurts HUL in Q3

HUL SAID THAT it was gaining market share in 75% of its businesses, which includes home and personal care, as it passed on price benefits to consumers.

Workers eager to return home

VIP guests descend on Ayodhya for the January 22 consecration ceremony, 2,000 workers who have been toiling in two shifts of 12 hours each for months to get the temple ready for the \"grand opening\" were given a \"short break\" on Friday evening.

Private jets crowd Ayodhya skies

THE PRIVATE JET parking lots at airports near the Indian city of Ayodhya are full and the shops have run out of goldplated idols, as wealthy devotees prepare for the invite-only opening ceremony of one of Hinduism's holiest temples.

India's women's hockey: Few wins, no star scorers

\"I DON'T KNOW.\" With these words, India coach Janneke Schopman ended the media interaction after the 1-0 loss to Japan, which shattered the Paris Olympics dreams. Schopman, who took over the team immediately after the Tokyo Olympics where it finished fourth, was asked about her future.

Industry players see increased allocation for renewable energy

THE UPCOMING INTERIM Budget may give a push to the renewable energy sector in sync with the government's plan to triple green energy capacity to 500 GW by 2030.

Nominal GDP growth may be pegged at 10.7%: Economists

THE INTERIM BUDGET for 202425 could peg the country's nominal GDP growth for the next financial year at 10.7% or thereabouts, going by the median of a poll of 15 economists. The estimates for nominal GDP growth for the next fiscal range from 9.5% to 11.3%, with most economists expecting the figure at 10.5%.

Samsung's new flagships talk the language of AI

GIVING A GLIMPSE of a world where smartphones too will depend heavily on AI for regular daily features, Samsung on Thursday launched its new flagship Galaxy S24 series at a global event in San Jose, California.

Lower licence fee, Customs duty on telcos' wish list

TELECOM COMPANIES HAVE urged the government to abolish the universal services obligation fund (USOF) levy, reduce licence fee, and bring in exemptions from Customs duty on import of telecom equipment and goods and services tax (GST).

Sandberg to exit Meta's board after 12 years

META PLATFORMS' FORMER chief operating officer Sheryl Sandberg plans to step down from her position on the company's board of directors after her term ends in May, she said in a Facebook post on Wednesday.

Pak strikes back at Iran; China offers to mediate

PAKISTAN ON THURSDAY used killer drones and rockets to carry out \"precision military strikes\" against what it called \"terrorist hideouts\" in Iran's Siestan-Balochistan province, killing nine people, a day after Islamabad downgraded diplomatic ties with Tehran.

FPIs pull out $2.4 bn from equities in two sessions

FOREIGN PORTFOLIO INVESTORS (FPIs) opted for the exit route for the second straight session on Thursday, withdrawing $1.19 billion (₹9,901 crore) from the equities, according to provisional data with the exchanges. On Wednesday, they had pulled out a net $1.27 billion (₹10,578 crore) in the highestever single-day net selling.

IndusInd Bank Q3 PAT climbs 17% on higher core income

INDUSIND BANK ON Thursday reported a 17% growth in its December quarter net profit to ₹2,301 crore, aided by higher core income and a stable asset quality.

Haldiram's in talks to buy rival snack maker Prataap

SNACKS MAKER HALDIRAM'S is in talks to acquire a majority stake in listed rival Prataap Snacks, which is valued at $350 million, to expand its presence in the potato chip market, two people with direct knowledge of the matter said.

Sun Pharma to buy remaining shares of Taro for ₹2,892 cr

SUN PHARMACEUTICAL INDUSTRIES on Thursday said it will acquire the remaining 21.52% stake in Israel-based Taro Pharmaceutical Industries for ₹2,891.76 crore, enabling the merger of the two entities.

SC asks Jet's new owners to deposit ₹150 cr by Jan end

Failure to do so would mean that the Jalan-Kalrock consortium is not in compliance with terms of the resolution plan, the apex court said

India will power global aviation: Airbus India

THE GROWTH OF the global aviation market will be powered by India for the next few decades, Airbus India head Remi Maillard said on Thursday. Maillard was speaking at the Wings India event being held here.

Kejriwal skips 4th ED summons

Reiterating his allegation that the BJP was out to get him, Delhi Chief Minister Arvind Kejriwal skipped the fourth summons issued to him by the Enforcement Directorate (ED) in the excise policy case for Thursday.