CATEGORIES

IndusInd Bank Q1 profit nearly flat on higher provisions

IndusInd Bank's net profit was nearly flat for the June quarter (Q1) of 202425, increasing by only 2 per cent yearon-year (Y-o-Y) to ₹2,171 crore due to higher provisions.

RBI releases PCA framework for UCBs

The Reserve Bank of India (RBI) on Friday issued a Prompt Corrective Action (PCA) framework to take timely steps for improvement of weak urban cooperative banks (UCBs).

Canara Bank plans to open 250 branches to boost Casa deposits

With competition for resource mobilisation turning intense, public sector lender Canara Bank is planning to open 250 branches to focus on mobilising low-cost money Current Account and Savings Account (Casa) during the current financial year.

LS results won't cast a shadow on fiscal improvements in India: S&P

S&P Global Ratings on Friday said it does not expect recent general election results to cast a shadow on the prospects for fiscal improvements in India, even as the US credit rating agency suggested that it may further raise the country's ratings if fiscal deficits narrow meaningfully.

Jaishankar, Lavrov talk of bilateral ties

External Affairs Minister S Jaishankar on Friday met his Russian counterpart Sergey Lavrov and leaders from South Korea, Japan, Singapore, Laos and others and discussed various aspects of bilateral collaboration, including education and agriculture technology.

Excluding food from RBI's inflation framework may not have many takers

Excluding food inflation from the Reserve Bank of India's (RBI's) inflation-targeting framework, an idea the Economic Survey has floated, has not found favour with most economists and central-bank watchers.

TDS reduction for life insurance payouts draws mixed reactions

The reduction in tax deducted at source (TDS) for life insurance payouts has evoked mixed reactions within the industry with some firms expecting that it may lead to a spike in policy sales while others expressing doubt over any material change in business.

SGBs set to power agri-solar, green H2, metro rail projects

Energy infra ministries have sought ₹32,000 crore for funding green energy, energy transition and transit-development projects through sovereign green bonds (SGBs).

After paints, Aditya Birla group forays into 6.7 trn jewellery retail

The Aditya Birla group on Friday launched the jewellery brand Indriya, announcing its foray into India's ₹6.7 trillion jewellery market.

Vedanta chief for privatising gold mines to boost output

Anil Agarwal, chairman of metals major Vedanta group, has called for the sale of government stake in Bharat Gold Mine and Hutti Gold Mine so as to increase production of the yellow metal in the country.

Maran case: SC reliefto SpiceJet

Top court sends back dispute to single-judge Delhi HC Bench

e2W, 3W makers may face retest for FAME-III scheme

Re-certification needed for all models; EMPS may be extended for two more months

Steel Inc in talks with govt for level field, says Jindal

The steel industry is in talks with the government for a level playing field as it works to keep up with demand amid the challenge of cheap imports, said Sajjan Jindal, chairman and managing director of JSW Steel, on Friday.

US, India biz lifts Cipla Q1 profit 18%

India's third largest pharma company Cipla reported 18.27 per cent year-on-year (Y-o-Y) rise in its net profit during the first quarter of 2024-25 (Q1FY25).

Samina Hamied steps down from board

Cipla on Friday said that Samina Hamied (pictured), non-executive director of the company, has tendered her resignation from the board with effect from October 2024 due to \"personal and family commitments.

ITC will invest ₹20,000 crore in 5 years, says Puri

ITC will invest €20,000 crore over the next five years as it has \"unwavering confidence\" in India's economic growth, said Sanjiv Puri, chairman and managing director, on Friday.

IndiGo profit falls for first time in 7 quarters

However, June quarter profit of ₹2,728 cr still its second highest

Mankind Pharma to lead in Indian women's health market after BSV deal

Deal opens doors to overseas markets with low competition

Banks may see 4-11% impact on earnings

The Reserve Bank of India's draft norms proposing an additional 5 per cent \"run-off” for retail deposits in the liquidity coverage ratio (LCR) calculations threaten to slice bank earnings by 4-11 per cent as lenders will have to decelerate loan growth while taking measures to bolster sluggish deposit growth by offering higher interest rates, according to according to analysts.

August Rush: Airfares fly as long holiday week drives demand

The average economy-class fare on major routes in the country around the long Rakshabandhan weekend in August has jumped by up to 46 percent amid high demand.

₹1.9 trn share sales via IPOs over six years in LTCG tax crosshairs

Secondary share sales worth ₹1.9 trillion mobilised via initial public offerings (IPOs) since April 2018 could now be assessed for potential evasion of long-term capital gains (LTCG) tax.

iPhones now cheaper by up to ₹5.9K after Budget's duty relief

Apple Inc on Friday reduced the prices of iPhones by up to 5,900 across the board.

Sensex, Nifty shrug off 5-day losses, extend winning streak to 8 weeks

Following five consecutive sessions of losses, the Indian benchmark indices staged a robust rally on Friday, bolstered by a reversal in foreign outflows and a softening in the global sell-off.

Axis Bank stock in wait and watch mode

Analysts suggest investors add exposure to stock after muted Q1 results

L&T may outperform guidance after strong Q1

L&T surprised on the upside of consensus due to stronger-thanexpected growth overseas.

Markets extend losses for 5th session; metal stocks a drag

Equity market benchmark indices Sensex and Nifty stayed on the back foot for the fifth straight session on Thursday as investors offloaded metal, banking and finance stocks amid a lacklustre trend in global markets.

Akums Drugs sets IPO price band at ₹646-679

Akums Drugs and Pharmaceuticals on Thursday set a price band of ₹646-679 per share for its upcoming initial public offering (IPO) that opens for subscription on July 30 and closes on August 1.

Gold, overseas ETFs may get the tax edge

These assets may qualify for 12.5% LTCG taxation in 12 months

Budget bowls tax googly at SWFs, pension funds

Takes away special exemption which was extended by a year in Interim Budget

India may have dengue vaccine by 2026: IIL

India may have a dengue vaccine by 2026, said a top executive of vaccine manufacturer Indian Immunologicals (IIL), as several players have joined the race to develop the country's first vaccine against the mosquito-borne disease that claimed 485 lives last year.