CATEGORIES

PhonePe FY23 revenue jumps 77% to ₹2,914 cr

WALMART GROUP'S FINTECH firm PhonePe on Wednesday said it has registered a 77% growth in consolidated revenue to 2,914 crore for FY23 on account of market expansion and digital money transfers.

Morgan Stanley beats Q3 profit expectations

MORGAN STANLEY'S THIRD-QUARTER profit showed a hit from lethargic deal making, while shares sank 7.4% as some analysts pointed to a fall in net new assets in its wealth division and disappointment over the lack of news on succession.

Hospital blast kills hundreds

A MASSIVE BOMBING at a Gaza City hospital killed hundreds of people and led to Israel and Hamas trading blame for the attack, which happened ahead of US President Joe Biden's trip to Tel Aviv on Wednesday.

Small-caps in demand, but NFO opportunities limited

THE SMALL-CAP SEGMENT has really been exciting in recent times, but mutual fund houses won't be launching many new fund offers (NFOs) in the space, said market experts.

Mandatory response to rumours will hit M&A deals: Experts

THE SEBI RECENTLY extended the timeline for implementation of norms that require firms to confirm or deny market rumours, thus providing a breather to India Inc.

IndusInd Bank PAT climbs 22% on strong NII growth

THE NET PROFIT of IndusInd Bank rose 22% year-on-year for the July September quarter, driven by a growth in net interest income. The bank posted a net profit of ₹2,202 crore, up 4% on a sequential basis.

Bajaj Finance NIM compression not a big deal: Analysts

MOST ANALYSTS HAVE retained a 'buy'rating on Bajaj Finance, shrugging off concerns over the contraction in its net interest margins (NIMs). They are of the opinion that the company will be able to offset the NIM compression with lower operating cost ratios and a stronger loan growth.

BoB suspends employees after RBI's mobile app ban

As per rules, lender will issue show-cause notices and prepare charge sheets

Bajaj Auto profit jumps 20% in Q2

Ebitda surpasses ₹2,000-crore mark for the first time

Aim to make AI, quantum tech mainstream here: IBM's Patel

IBM, WHICH COUNTS India as an important market for research and development, said a wider acceptance of newer technologies like AI and quantum is critical in developing talent, and the company is working towards making these technologies mainstream in the country.

Happiest Minds lowered FY24 guidance on acquisitions delay

DELAYS IN CLOSING acquisitions forced Happiest Minds to revise its guidance down to 12% for its organic growth.

Infosys, Cloud to help firms become Al-first

INFOSYS EXPANDED ITS partnership with Google Cloud to help enterprises build Al-powered experiences by leveraging former's Topaz offerings and latter's generative AI solutions.

LTI Mindtree profit grows just 0.9%

LTIMINDTREE, THE SIXTH LARGEST IT services firm, reported a sequential rise of less than 1% in its net profit to ₹1,162 crore for the second quarter, mainly due to a muted revenue growth and the impact of wage hikes carried out during the quarter.

Headcount at top 4 declines by 21,213

THE TOP FOUR IT companies in the country saw their total headcount decline by 21,213 employees in the second quarter.

Wipro misses earnings estimates in Q2

Posts weakest growth among its peers

Sugar export ban extended

THE GOVERNMENT ON Wednesday extended restrictions on sugar exports beyond October 31, according to a notification issued by the directorate general of foreign trade (DGFT).

City gas firms may witness strong Q2

INDRAPRASTHA GAS AND Mahanagar Gas are likely to register year-on-year rises in net profits of 19% and 131% respectively in the second quarter of the financial year 2023-2024, as per analysts.

Regulatory structures crucial for solar energy push: RK Singh

SOLAR ENERGY HAS THE edge among other renewable energy options and is much more reliable, Power Minister R K Singh said on Wednesday. Addressing the 6th assembly of the International Solar Alliance (ISA) here, the minister said regulatory structures in terms of generation and transmission of power are required to spur the sector's growth.

launch I-T dept likely to drive to quicken refunds

GIVEN THAT 3.5 million cases of tax refunds are \"held up\", the Income Tax (IT) department is considering organising campaigns to assist the taxpayers, apart from proactively pursuing other means to process the refunds.

India-UK FTA talks may spill over to Nov

THE INDIA-UK negotiations on a Free Trade Agreement (FTA) are likely to continue for a few more days or even weeks that would push back the actual date of finalising and signing the pact beyond October, according to official sources.

AI to induct one aircraft every 6 days

TATA SONS-OWNED AIR India (AI) will induct one new aircraft every six days until the end of 2024 to expand its reach and spruce up its market share a market dominated by IndiGo currently.

Sharp hikes in MSP for wheat, pulses cleared

Highest rise of 7% since 2014-15 to encourage farmers to boost output

Israel-Hamas War Deepens Humanitarian Crisis

Israeli air strikes have killed over 2,800 Palestinians

Pune primed for Indian juggernaut

BOTH THE MINNOWS and the mighty of Pune's iconic 1996 Cricket World Cup moment at the Nehru Stadium are lost to the sands of time.

Jio Fin profit fails to excite Street, stock dips 2%

JIO FINANCIAL SERVICES' strong showing in the second quarter of FY24 failed to enthuse investors, with the stock seeing a 1.7% decline on Tuesday.

'Consumers are still keen on offline solutions in eyecare'

Until four years ago, almost 100% of the frames and sunglasses sold at Titan eye wear stores were imported. Today it is down to 60%. The company is also working overtime to reach its target of setting up 1,000 stores across 400-plus cities. In this interview, Saumen Bhaumik, CEO, Eye Care Division, Titan Company, tells Akanksha Nagar why the company is eyeing the smart eye wear category. Excerpts:

Sebi's centralised system will make life easier for nominees

THIRTY-SEVEN-YEAR-OLD Manish Sharma (name and professional details changed), an IT professional in Mumbai, lost his father nearly eight years ago due to a disease.

Sebi, RBI probing AIFs for bypassing regulations

THE SECURITIES AND Exchange Board of India (Sebi) and the Reserve Bank of India (RBI) are investigating about a dozen cases of alternate investment funds (AIFS) allegedly being used to circumvent regulations, including \"ever greening\" of stressed loans, according to three sources with direct knowledge of the matter.

Bajaj Finance profit rises 28% in Q2 on strong loan growth

THE CONSOLIDATED NET profit of Bajaj Finance rose 28% year-onyear in July-September, aided by a growth in its loan book.

Analysts bullish on HDFC Bank's long-term growth

Optimism based on expectation that NIM will recover to 3.8%