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PM rolls out health cover for 70-plus senior citizens

Prime Minister Narendra Modi on Tuesday launched the expanded Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) scheme. It will apply to all aged 70 and above, irrespective of their socio-economic status, with a benefit cover of ₹5 lakh per year in empanelled hospitals across India.

Many friendly fights on cards in Maharashtra

The filing of nomination papers for 288-member Maharashtra Assembly, which will vote on November 20, ended on Tuesday.

14 Nifty firms missed estimates

So far, of the 27 Nifty companies that have come out with their Q2 results, 14 have missed estimates on both revenue and profit metrics.

Jio Fin arm gets RBI nod for online payment aggregation

Jio Payment Solutions, a wholly-owned subsidiary of Jio Financial Services, received a nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator, the firm informed the exchanges on Tuesday.

Canara Bank Q2 profit rises 11% amid pressure on NIM

Canara Bank's net profit during the second quarter of financial year 2024-ZS (Q2FY25) rose 11.31 per cent year-on-year (Y-o-Y) to ₹4,014 crore amid pressure on net interest margins.

PNB Housing Finance plans to grow corporate book from Q3

After a three-year hiatus, PNB Housing Finance is looking to grow its corporate loan book from the current quarter (Q3) of FY25, Girish Kousgi, managing director (MD) and chief executive officer (CEO) of the housing finance firm, told Business Standard.

YES Bank looks to sell ₹635 cr unsecured loans

Private-sector lender YES Bank is looking to sell ₹635 crore of non-performing unsecured loans and has invited expressions of interest (EoIs) by November 4 from entities interested in acquiring the assets.

Pillar Two tax regime unlikely soon as India moves with caution

The Union government is expecting to rake in ₹100-200 crore in additional revenue from Pillar Two, only under specific circumstances, a senior finance ministry official said requesting anonymity.

Framework on sustainability for textile industry on cards

The Centre is working towards a framework on sustainability for the textile industry amid a rising global focus, especially among developed nations, to incorporate sustainable initiatives in production and trade of textiles.

CROP PRICES SHOW MIXED TREND IN RELATION TO THEIR RESPECTIVE MSPS

One of the most crucial factors that would determine how the rural economy performs in the remaining two quarters of FY25 is how prices of key agriculture commodities fare.

Privatising banks is essential

Eliminating onerous regulations is the first step in reforms that India needs to take towards its goal of becoming a developed country by 2047, said RAJNISH MEHRA, economist, University of Arizona. In conversation with Ruchika Chitravanshi in New Delhi, Mehra stressed that lateral entry in the government is critical and added that the bureaucracy is not going to voluntarily do anything that diminishes its influence. He said that it will take strong leadership from the Prime Minister to push these changes through. Edited excerpts:

50% of construction workers' welfare cess funds unused

Nearly half of the ₹1.12 trillion collected by states and Union Territories (UTs) as the building and other construction workers' welfare cess remained unutilised till March 31 this year, a Business Standard analysis has revealed.

60% gold reserves held domestically: RBI data

Amount of yellow metal increased by 100 tonnes between April and Sep

Credit cards get a festive boost, spending increases 25% in Sep

Credit card spending in September recorded strong growth of 25 per cent year-on-year (Y-o-Y), marking the highest increase in six months. Even as many banks saw higher slippages during the July-September quarter of 2024-25, spending growth exceeded 20 per cent for the first time since February.

JSW Energy outbids Adani group, NTPC

JSW Energy, part of the billionaire Sajjan Jindal-led group, has emerged as the highest bidder for bankrupt KSK Mahanadi Power Company, according to a stock-exchange filing by the company on Tuesday.

Cipla's profit jumps 15% on robust sales

Drug major Cipla on Tuesday reported a 15.2 per cent increase in its consolidated net profit at ₹1,303 crore for the second quarter (Q2) of FY25, driven by robust sales across key markets. India's third largest pharma company reported ₹1,131 crore during the same period in 2023-24.

Adani Ports net soars 40%

Adani Ports and Special Economic Zone Limited (APSEZ) reported a net profit (attributable to equity holders of the parent) of ₹2,445 crore for the second quarter of financial year 2025 (Q2FY25), up by 39.90 per cent year-on-year (YoY), even though it missed street estimates.

JSW, Posco forge deal for 5 mtpa steel unit in India

JV to boost renewable energy, EV battery materials

Adani Enterprises profit zooms 664% to ₹1,742 cr

The Adani group's flagship entity, Adani Enterprises (AEL), reported a more than sevenfold increase in its consolidated net profit (attributable to the company's owners) for the July-September quarter of 2024-25 (FY25), driven by improved revenue and reduced finance costs.

Maruti misses Street estimates, Q2 PAT slides 18% to ₹3,102 cr

Shares tumble over 4%; mcap erodes by ₹14,846 crore

Marico's earnings rise 20% on volume growth, asset sales

Homegrown FMCG major Marico reported a 20.27 per cent increase in consolidated net profit to ₹433 crore for the September quarter, driven by volume growth, pricing actions, and gains from asset sales.

Flipkart records 7.2 bn customer engagements this festival season

E-commerce firm Flipkart recorded an overall 7.2 billion visits in terms of customer engagement this festive season between September 1 till October 28.

Brokerages snip Nifty EPS growth estimates

Further revisions for FY25, FY26 likely if Q2 show continues to disappoint

Gold sparkles less this Dhanteras, silver shines

Jewellers approached this Dhanteras hoping that the day's sales would provide a breather in a year marked by sky-high gold prices.

After recent silver rally, limit exposure to 5%, enter with 7-yr horizon

Silver recently crossed the 1 lakh per kilogram mark, outpacing gold over the past year. This surge is driven by industrial demand, interest rate cuts, and various other macroeconomic factors.

Federal Bank reports 11% rise in profit on income growth

Federal Bank reported a 10.8 per cent year-on-year (Y-o-Y) increase in its net profit for the second quarter of the current financial year (Q2FY25), with profits rising to 1,056.7 crore from ₹954 crore in the same quarter of the previous financial year.

JSW Infra's net jumps 46%, beats estimates

JSW Infrastructure's consolidated net profit (attributable to the owners of the company) for the second quarter of 2024-25 (Q2FY25) jumped 46.03 per cent year-on-year (Y-o-Y) to ₹371.51 crore, beating Bloomberg poll estimate of ₹299.23 crore.

Adani Power profit falls 50% to ₹3,297 cr

Adani Power on Monday reported a 50 per cent decline in its consolidated net profit to ₹3,297.52 crore in the September quarter (Q2FY25) compared to a year ago, mainly due to lower income as well as higher taxes.

Tamilnad Mercantile Bank profitjumps 11%, backed by high NII

Thoothukudi-headquartered Tamilnad Mercantile Bank (TMB) has posted an 11 per cent rise in net profit during the second quarter of this financial year (Q2FY25).

Germany's Rhenus Group eyes cargo ops in inland waterways

Rhenus Logistics, a leading transportation player in Europe, is looking to ramp up its India operations. It will pump about $100 million into the country's inland waterways starting next year, said Tobias Martin Bartz, chief executive officer (CEO) of the Rhenus Group.