CATEGORIES

Kotak Mahindra Bank's net profit up 8% on strong NII

THE NET PROFIT of Kotak Mahindra Bank rose 8% yearon-year (y-o-y) in the December quarter owing to a growth in its net interest income.

Creator of Rashmika deepfake arrested

DELHI POLICE ON Saturday said it has arrested a B-Tech graduate from Andhra Pradesh in connection with a deepfake video of actor Rashmika Mandanna that was widely circulated on social media.

Luxury car sales in top gear in 2023; this year expected to be even better

LUXURY CAR MANUFACTURERS reported one of their best sales in 2023 at 47,000 units, and expect to surpass the 50,000-units mark in the current calendar year.

Tatas retain IPL title rights for record €2,500 cr

THE TATA GROUP has retained the title rights of the Indian Premier League (IPL), matching the competitive offer of 500 crore per year made by the Aditya Birla group last week.

Govt norms in offing to check AI robustness

Firms using AI to be rated on various factors

AIDED BY STRONG LOAN GROWTH ICICI Bank net up 24%

Private lender surpasses street expectations

NYC to Paris, mandir opening catches world's fancy

WITH THE CONSECRATION ceremony just a day away, the spirit of Ram Mandir is being felt across the world.

MSP bonus: Procurement of paddy in Chhattisgarh jumps

THE PADDY PROCUREMENT in Chhattisgarh, a major contributor to the government's grain procurement drive, has surpassed a record 10.7 million tonne (MT), against the current season (2023-24) target of 9.1 MT, following the boost in purchase of grain after the new government started to provide bonus above the minimum support prices (MSP) to farmers.

NHPC divestment boost: Centre gets ₹2,500 crore

WITH BOTH RETAIL and institutional investors lapping up the offer for sale of a 3.5% stake in NHPC, the Centre raised around 2,500 crore in disinvestment revenues on Friday.

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).