CATEGORIES

JSW Steel beats estimates, Q3 net up 400% at ₹2,415cr

Increase in steel sales amid a rise capacity utilization contributed to the surge

Vedanta net profit down 7% in Q3 as finance costs surge

Company's net debt has gone up sharply, to ₹62,492 cr from ₹38,076 cr a year earlier

Tata Tech CEO sees muted end to FY24; bullish on next year

Tata Technologies on Thursday reported a 1.6% sequential growth in its rupee revenue to 1,289.5 crore in the quarter ended December, while net profit rose 6.1% to 170.2 crore. In dollar terms, the revenue increased 0.9% sequentially to $154.8 million, while its earnings before interest and taxes (ebit) margin rose to 16.2%.

'Need to cut losses in Europe'

Tata Steel never had to support Dutch unit, except in the last quarter. Meanwhile, UK operation is still struggling

Bank Nifty rollovers surge

Investors and traders rolled over the highest number of outstanding bets on Bank Nifty futures in 10 months, indicating that heavy bearish bets have been rolled over to the February series ahead of the interim budget, as the Bank Nifty has fallen 7.5% to 44866.15 from the December to January expiry.

A slippery road awaits Bajaj, TVS

Investors have reacted quite in opposite directions to the December-quarter (Q3FY24) results of Bajaj Auto Ltd and TVS Motor Co.Ltd. On Thursday, while shares of Bajaj Auto gained by over 5%, those of TVS Motor fell by 3%. Bajaj's Q3 results were a step ahead of analysts' estimates, while TVS Motor fell short, albeit only slightly.

Swiggy, Flipkart to trim workforce ahead of IPOS

IPO-bound startups Swiggy and Flipkart are expected to lay off employees over the next few months, a move likely to impact around 1,400 executives across both the companies, two people aware of the matter told Mint, asking to remain anonymous.

Ola mobility biz turns profitable, hires CEO

The mobility business posted adjusted Ebitda of about 250 cr in FY23

Indian investments key target of Australian minerals reforms

The state of Western Australia has introduced a series of reforms aimed at attracting investments in minerals and resources, including from India.

Coal imports for power to end by FY26

The coal ministry will request imported-coal based (ICB) power plants to make changes to their technologies and design so that they can use domestic coal, said the Union minister for coal Pralhad Joshi.

'Govt to strengthen agriculture and manufacturing'

The Centre plans to focus on strengthening agriculture and manufacturing sectors to stimulate the economy, finance minister Nirmala Sitharaman said on Thursday.

General insurance be recapitalized cos could in FY25

The recapitalization is to prepare them for listing and privatization in the coming fiscal year

SEC wants SPAC mania to remain dead

The speculative bonanza in special-purpose acquisition companies, better known as SPACs, appears to be dead. Gary Gensler wants to make sure it doesn't come back to life.

Lenders push for Byju's insolvency

Overseas lenders of online tutor Byju's have filed an insolvency petition against its parent company Think & Learn Pvt. Ltd in Bengaluru to recover a $1.2 billion loan, in an ignominious turn for the company that was once India's most-valued startup.

Canada cracks whip, students eye options

Canada's decision to cap the number of internaс Cthe tional students this year and introduce stricter work visa rules will force students from India to opt for other countries. Counselling centres said even a year ago, half of their customers wanted admissions and immigration to Canada, but are now asking for other countries.

Adani to buy six biz jets, to delivered be in 18 months

The Adani Group plans to double its business jet fleet to ensure it has enough aircraft to fly its top executives, as it plots an expansion strategy with renewed vigour after the Supreme Court cleared it of accusations made by Hindenburg Research.

Rebel Foods plans to file for IPO this year, listing in '25

Peak XV-backed Rebel Foods that owns Faasos, Behrouz Biryani and Mandarin Oak is working towards an initial public offering (IPO), which would make it the country's first cloud kitchen business to go public.

Consumers upbeat despite inflation hit

Surveys signal rising optimism as consumers in Asian peers lag

World War 3 Not Beyond Realm Of Possibility, Says UNGA President

UN General Assembly president Dennis Francis warned that the Red Sea conflict could trigger another World War, and buttressed the need to reform the Security Council.

Wall Street's Titans Are Betting Big On Insurers. What Could Go Wrong?

How private-markets giants are overhauling the financial system

Rising Inflation And Layoffs Top Concerns For Indians: Kantar

Urban Indians are increasingly concerned about rising inflation and job security, including fears of layoffs, the Kantar India Union Budget Survey 2024, released on Wednesday, said.

Markets At Lifetime High: Is It An Investment Opportunity Or A Risk?

I suppose it is tempting, if the only tool you have is hammer, to treat everything as if it were a nail" - Abraham Maslow On 16 January 2023, the Sensex reached its all-time high of 73,427 causing the market-to-GDP ratio, also known as the Buffet Indicator, to climb to 120%.

How Should I Accumulate ₹1 Cr In Six Years To Fund My Home?

Your plan to step up the SIPS every year to build a downpayment corpus is good as you would have been able to reach around 44-48 lakh with the present monthly investment in six years if we assume an annual return of 10% and 12%.

India's DPI can help build a tech ecosystem that the world trusts

Its design mitigates risks from a tech cold war and enables democracies to harness the gains of technological advancement

Statistical clarity feeds successful governance

India's statistical system is under the PMO's lens. Given recent data dissonance, it evidently needs a relook. The country's view of itself is too hazy in these digital times of sharp resolution

Inflation dampens middle class spirits

Indian consumers at the lower end of the market are cutting back on branded liquor, said executives at United Spirits Limited (USL), the country's largest liquor maker, as middle-income households struggle with high inflation.

DGCA imposes 1.1 cr penalty on Air India

The Directorate General of Civil Aviation (DGCA) has imposed a penalty of ₹1.1 crore on the Tata Group-owned Air India for safety violations on certain flights.

Firms can list on GIFT City's int'l exchanges

Sunrise, tech sector startups gain a new avenue to access global capital

Bajaj, TVS vroom to record profits in Q3

Bajaj Auto and TVS Motor Company achieved record-high revenues, profits and operating margins in the quarter ended 31 December, buoyed by robust festive purchases and a revival in rural demand, financial statements filed by the two-wheeler makers with the exchanges showed on Wednesday.

Non-bank lending startup Ecofy raises $10.8 million

Climate-focused non-banking financial company (NBFC) Ecofy, promoted by climate impact fund Eversource Capital, has raised $10.8 million (190 crore) in an investment round from Dutch development bank FMO.