CATEGORIES

Central Bank's net surges 51% as NII rises

Central Bank of India's net profit during the second quarter ended September 2024 (Q2FY25) rose 50.91 per cent year-on-year (Y-o-Y) to ₹913 crore, aided by rise in net interest income (NII) and recoveries from written-off accounts. Sequentially, the Mumbai-based lender's net profit rose 3.75 per cent from ₹880 crore in Q1FY25.

NFRA chair bats for adopting global auditing standards

India must adapt to local needs while meeting global requirements to strengthen its position as a global powerhouse, National Financial Reporting Authority (NFRA) Chairman Ajay Bhushan Pandey said on Thursday while speaking at an Assocham.

GSI to re-explore lithium reserves in J&K

The Ministry of Mines has directed the Geological Survey of India (GSI) to conduct a re-exploration of the 5.9 million tonnes of lithium block in Jammu and Kashmir's (J&K's) Reasi district after repeated setbacks to put the reserve up for auction again in six months.

Axis Bank Q2 profit rises 18%, NII up 9%

Axis Bank on Thursday reported an 18 per cent year-on-year (Y-o-Y) jump in its net profit in the second quarter of financial year 2025 (Q2FY25), aided by robust increase in other income, including fee and trading income. Net profit for the quarter stood at ₹6,918 crore against ₹5,864 crore in the corresponding quarter a year ago.

Indian coastal vessels may not need trading licence for ops

Coastal Shipping Bill, 2024, gets Cabinet nod; foreign vessel rules from 2018 proposed to be revoked

Softening rates spur Indian firms' overseas bond issuances

High demand, lower costs drive global fundraising surge

Govt working on welfare, social security benefits for gig workers

Union Labour Minister Mansukh Mandaviya on Thursday chaired a meeting with employee associations of gig and platform workers in a bid to provide millions of such workers with social security benefits like health insurance and pension.

In a first, 'Kanda Express' to roll into Delhi on Oct 20

Centre to pump 1,600 tonnes of onions loaded in 42 wagons into wholesale mkts to cool prices ahead of Diwali

Diplomatic dispute due to Trudeau's 'baseless' allegations, says India

India on Thursday said that the current diplomatic row with Canada was triggered by Prime Minister Justin Trudeau's \"baseless\" allegations, emphasising that \"no evidence\" was provided to support Ottawa's serious claims against New Delhi.

Direct tax-GDP ratio hits 24-year high in FY24

Direct tax mopup rises 18%, outpacing economic growth; buoyancy at 2.12

India to be 3rd-largest economy by '30: S&P

India is poised to become the third-largest global economy by 2030, but its rising population presents mounting challenges in providing basic services and meeting growing investment needs to maintain productivity, S&P Global Ratings said on Thursday.

upGrad announces plan to train 100,000 for PM's Internship Scheme

Edtech startup upGrad will spend ₹200 crore on a skills training programme for 100,000 young people in financial year 2024-25 (FY25), seeking to assist the Prime Minister's Internship Scheme.

IPO-bound Zepto in talks to raise $150 mn

Motilal Oswal's private investment arm may lead round

GE Aerospace to supply engines to Navy

The company has been chosen to supply power packs for six next-generation missile vessels that will be built by Cochin Shipyard

Slow growth bottoming out in IT cos

The second-quarter performance of the top five information-technology services firms gives the hint that slow growth has bottomed out on the back of discretionary spending kicking in for the sector's largest vertical - the banking and financial services.

Wipro Q2 profit rises 21% to ₹3,201 cr

Bengaluru-based IT services major Wipro's net profit increased 21.3 per cent year-on-year (Y-o-Y) to ₹3,201 crore for the second quarter of FY25. Sequentially, the net profit rose 6.8 per cent.

Nestle India's net soars 8.6%

Fast moving consumer goods (FMCG) major Nestle India reported an 8.6 per cent rise in its net profit to ₹986.4 crore in the second quarter of financial year 2025 (Q2FY25), a period which was marked by muted consumer demand and high commodity prices. The company had reported a net profit of ₹908.1 crore in the same period last year

CEAT profit skids 41% to ₹122 cr

RPG Group owned tyre company CEAT, on Thursday posted a 41.4 per cent decline in profit after tax (PAT) for the second quarter FY25 (Q2FY25) while its consolidated revenue from operations grew by 8.23 per cent during the period.

Nokia logs 8% sales dip in Q3 on weaker India market

Wireless and fixed-network equipment maker Nokia on Thursday reported better-than-expected third quarter earnings, mainly on the back of cost-cutting measures, but saw its sales dive 8 per cent largely due to a weaker India market.

LTIMindtree profit up 7.7% on rising deal momentum

IT services firm LTIMindtree reported a 7.7 per cent rise in net profit to ₹1,251.6 crore for the second quarter of FY25 (Q2FY25). Sequentially, profit was up 10.3 per cent. Revenue for the company increased 6 per cent Y-o-Y to ₹9,432.9 crore for Q2FY25. On a quarter-on-quarter (Q-o-Q) basis, revenue grew 3.2 per cent.

New measures coming to tackle hoax calls disrupting flights

The Ministry of Civil Aviation (MoCA) is in talks with the Ministry of Law and Justice and the Ministry of Home Affairs (MHA) to introduce new legislation aimed at penalising hoax callers responsible for false bomb threats and flight disruptions, Minister of Civil Aviation K Rammohan Naidu said on Thursday.

Byju's worth zero now: Raveendran

The worth of once most valued Indian startup is zero now, Byju Raveendran (pictured), the founder of beleaguered education technology startup Byju's, said on Thursday as he called for rebuilding the erstwhile empire from the scratch, brick by brick.

RBI bars Navi Finserv, 3 other NBFCs from extending loans

The Reserve Bank of India (RBI) has barred four nonbanking finance companies (NBFCs), including two microfinance institutions (MFIS), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers.

India's trade with Africa may take a hit if Iran-Israel conflict widens

A further escalation of the conflict between Iran and Israel will not only put India's exports to West Asia at risk, but also impact trade with Africa. Government officials said that exports to Africa will take a hit since a substantial amount of outbound shipments are routed from the UAE - a key transshipment hub to that region. India exports 10 per cent of its goods to Africa, valued at $13.9 billion during the first seven months of this financial year.

Infy raises FY25 revenue forecast on BFSI boost

Ups growth projection to 3.75-4.5%; Q2 net profit rises 4.7%

QIBs come to rescue of Hyundai India IPO

Country's largest issue booked 2.4x; retail investors stay away

Concor's growth route shifts as demand dips

Weak exim volumes, competitive pressures add to logistics firm's demand woes

Benchmarks fall as IT, auto shares retreat

Benchmark indices declined for the second day. The Sensex fell 318.76 point or 0.39 per cent to settle at 81,501.36 while the Nifty dipped 86.05 point or 0.34 per cent to close at 24,971.30 on Wednesday.

Global fund managers pare India allocation: BofA

Global fund managers increased their allocation to China at India's expense after Asia's largest economy unleashed a stimulus package, according to a survey conducted by BofA Securities.

Quant MF scoops up nearly half of AEL's ₹4.2K cr QIP

Subscribes 6.66 mn shares at ₹2,962 apiece