These orders from domestic and export markets are for high-performance power conductors, optical ground wire (OPGW) and power cables among others.
Stock market today: Indian benchmark indices, BSE Sensex and Nifty50 witnessed a significant surge in their value today due to buying activity in the banking sector and positive global market cues. The BSE Sensex gained 1200 points, reaching a level of 71,900, while the Nifty50 crossed the 21,650 mark during Monday's trading session.
Biometrics-based immigration checks at Indian airports soon! The Indian government is set to implement a faster biometrics-based process for international passengers to expedite immigration checks. The airports in New Delhi, Mumbai, and Bengaluru will introduce automated immigration clearances, allowing international entries and departures without physical passport verification. The DigiYatra app, currently used by domestic passengers, will be expanded for international visitors.
If there is one word to describe the Budget team, it's stability. Not only has finance minister Nirmala Sitharaman stayed her full term and will present her sixth straight Budget, but there are at least two secretaries who would be there for their fifth Budget - a rarity in bureaucracy.Finance secretary T V Somanathan and department of investment and public asset management (Dipam) secretary Tuhin Kanta Pandey have been part of the Budget team since they took over top positions and could well have two full Budgets to deal with in July and Feb 2025.
The analysis of budget expectations for senior citizens, based on a survey by the Agewell Foundation, reveals significant concerns among the elderly. Key points include the demand for GST exemptions or lower rates on essential products like adult diapers and wheelchairs, a call for more realistic old age pension schemes, and a desire for tax-free investment options.
Domestic mutual fund investor solutions business, which contributed 69 percent to topline, increased 17 percent YoY to Rs 151.5 crore in Q3FY24, KFin Technologies said.
During a post-third quarter earnings call with investors, HPCL chairman assured that there are no supply disruptions despite the ongoing Red Sea crisis. The company has secured crude oil supplies until mid-April and expects no impact on term crude or spot supplies.
As regards asset quality, gross Non-Performing Assets (NPAs) of the bank declined to 3.04 per cent of the gross loans by the end of December 2023 from 3.58 per cent a year ago.
New Delhi, Jan 27 Realty firm Macrotech Developers Ltd on Saturday reported a 25 per cent increase in its consolidated net profit to Rs 505 crore for t..
Binny Bansal has officially resigned from Flipkart's board, officially ending his association with the internet firm he co-founded alongside Sachin Bansal in 2007. Flipkart, initially entering the emerging local e-tail market with the introduction of an online bookstore, later evolved into a e-commerce platform. It was acquired by the US retail giant Walmart in 2018.
Asia Pacific businesses are increasing investments in generative AI (GenAI), with spending projected to triple to USD 3.4 billion by 2024. While trailing behind North America, APAC's adoption and growth in GenAI are among the highest globally.
Visa and Mastercard have asked the U.S. Supreme Court to overturn a judge's order allowing consumers and ATM operators to band together in class actions seeking billions of dollars in damages over transaction fees. The payment card giants argue that the Washington, D.C.
Tata Group and Airbus will establish a helicopter manufacturing facility in India. The facility will have a final assembly line for producing Airbus H125 helicopters. This will be the first instance of the private sector setting up a helicopter manufacturing facility in India.
ITC is expected to report a net profit of around Rs 5,183 crore in October-December, up 3 percent on-year.
This article discusses financing options like no-cost EMIs and BNPL that are popular during Republic Day sales. It warns consumers about hidden charges and processing fees associated with no-cost EMIs. The RBI has called for transparency in converting credit card transactions to EMIs and has taken steps to ensure fair practices in the pricing structure.
Budget 2024 income tax: In view of elections nearby, this year’s budget to be presented on February 1, 2024, will be an interim budget. Many taxpayers still chose the old regime, as giving up deductions like HRA, LTA, deductions for investments under Sections 80C/80D, etc. did not reduce their tax liability when compared with the one under new tax regime. Here is the wish list, and some of them, if not now, do merit consideration later, when the newly elected government will present the full-year budget.
The year 2023 saw a return to normal in air travel demand with a record 51.58 million passengers at Mumbai airport. Mumbai International Airport ltd (MIAL) reported a growth of 35% compared to 2022. Domestic destinations remained Delhi, Bangalore, and Chennai, while Dubai, London, and Abu Dhabi were the preferred international choices.
A key offshore bondholder group of China Evergrande plans to join a petition to liquidate the developer at a hearing in a Hong Kong court. The bondholder group owns more than $2 billion in offshore notes guaranteed by Evergrande. Their support to a winding-up petition could increase the chances of an immediate liquidation order.
Indian Overseas Bank (IOB) reported a 30% increase in net profit to Rs 723 crore for the December quarter 2023-24. The bank's total income increased to Rs 7,437 crore, and operating profit improved to Rs 1,780 crore. Gross NPAs declined to 3.90% and net NPAs came down to 0.62%. Provision Coverage Ratio stood at 96.
Abdrn's assets under management and administration dipped to 494.9 billion pounds from 495.7 billion at the end of June. The company reported net outflows of 12.4 billion pounds ($15.75 billion), more than double the first half withdrawals.
Apart from crossing its pre-pandemic levels of operations in the Indian market, the carrier, this month, increased its frequency on the Amritsar-Kuala Lumpur route from two to four weekly flights
Ayodhya is set to become a global spiritual tourism hub with the completion of the Rs 85,000 crore makeover and the construction of the Ram Mandir. The town is expected to attract 5 crore tourists annually. Several Indian companies listed on the stock market have been involved in the Ayodhya and Ram Mandir project, including Larsen and Toubro (L&T), Havells India.
The Tuticorin-based bank had reported a net profit at Rs 280 crore during the corresponding quarter of the last financial year.
The Ram Temple construction in Ayodhya has gained broad support and attention nationwide. Many are looking to donate for the Ram Mandir and while the eagerness to contribute is admirable, it's important to watch out for fake websites claiming to be official donation platforms. Ensure website authenticity and go to the official website at www.srjbtkshetra.org.
With over 135 offices worldwide, Lockton#39;s entry in the country is subject to regulatory approval. This will meet India#39;s growing demand for risk consulting and management services, the company said in a statement.
On January 22, the Ayodhya Ram Mandir is inaugurated, leading to bank closures and half-day observances across the country. State governments and educational institutions have granted a day off in honor of the event. Central government offices and PSU banks will observe a half-day closure to allow employees to participate.
JK Cement̢۪s total expenses rose 7.5 per cent in the third quarter of the ongoing fiscal to Rs 2,564.29 crore.
The ongoing Hyderabad Air Show features a stall by De Havilland showcasing the Twin Otter seaplane. This seaplane gained popularity after Prime Minister Modi flew in it during a visit to Lakshadweep. India is now in talks with potential players to start seaplane services in the country.
Equity benchmark indices opened on a positive note on Saturday, with Sensex rising 250 points on the back of an uptick in financial stocks. The 30-share BSE Sensex rose 250.08 points or 0.35 per cent to 71,933.31 points in early trade. The Nifty climbed 75.80 points or 0.35 per cent to 21,698.20 points.
ICICI Bank on Saturday said its consolidated net profit for the December quarter jumped 25.7% to Rs 11,052.60 crore, up from Rs 8,792.42 crore. The second largest private sector lender posted a 23.6% rise in standalone net profit for the third quarter of the current fiscal to Rs 10,272 crore.
Paytm, the leading Indian digital payments firm, is making strategic investments in artificial intelligence (AI) to streamline its operations and reduce employee expenses, according to company executives during its Q3 earnings call with analysts on Saturday. Last year, Paytm reduced its workforce by several hundred employees to enhance efficiency and improve overall productivity amid tech firms’ growing reliance on AI.
Airbus and CSIR-IIP sign MoU to develop indigenous Sustainable Aviation Fuel (SAF) in India. The collaboration aims to support SAF production and commercialization, using a new HEFA technology pathway and locally sourced feedstocks. The partnership will address decarbonization goals and make India a global SAF production hub.
Atul#39;s revenue from operations came in at Rs 1,137.80 crore in Q3FY24, down 10.8 percent YoY.
Flight restrictions have been imposed at Indira Gandhi International Airport in Delhi from 10.20 am to 12.45 pm every day until January 26 due to Republic Day preparations and celebrations. The restrictions, outlined in a Notice to Airmen (NOTAM), apply to both arrivals and departures and affect all types of flights, including non-scheduled, scheduled, and chartered flights.
The company has signed an MOU with the Tamil Nadu government for the same, Mahindra Holidays Resorts India Ltd (MHRIL) said in a statement.
Intensifying its dedication to 'Make in India' initiative, Airbus, the prominent French aerospace company, has entered into agreements with Tata Advanced Systems Limited (TASL) and Mahindra Aerospace Structures Private Limited (MASPL) for acquisition of aircraft components. These agreements were formalized in the presence of Union Civil Aviation Minister Jyotiraditya Scindia during the opening ceremony of the Wings India 2024 exhibition.
Stock market today: BSE Sensex recorded its worst daily performance in the last 16 months, largely influenced by a significant fall in HDFC Bank shares. The decline in both BSE Sensex and Nifty50 can be attributed to HDFC Bank, with more than half of the drop being attributed to the heavyweight bank.
Private equity firm KKR is in advanced negotiations to invest a significant amount in BookMyShow (BMS), a popular online platform for booking tickets and organizing events. The investment is expected to be around Rs 2,087-2,505 crore ($250-300 million) and will be made through a secondary share sale.
David Robert Simpson was on ITC board as a representative of Tobacco Manufacturers (India) Ltd, a subsidiary of British American Tobacco plc.
This article discusses the recent adjustments made by several banks to their lending rates in January 2024, focusing on Marginal Cost-Based Lending Rates (MCLR). IDBI Bank, ICICI Bank, PNB, Bank of India, and Yes Bank have revised their MCLR rates. Bank of Baroda, Canara Bank, and HDFC Bank have also made adjustments to their rates.
Flight delays due to fog in Northern India have left passengers disgruntled. Delhi Airport, facing major disruptions, experienced over 500 flight delays. Complex rules and airport infrastructure limitations make it challenging for airlines to deboard passengers during prolonged delays.
In a big step-up for the Indian luxury car market, Mercedes-Benz is looking to double installed capacity at its India factory to 40,000 cars per annum as the German giant charts out a strategy to maintain its lead in the country by launching new cars and expanding its footprint. The move, which is in early stages right now, will see the company expand annual installed capacity at its factory - located outside Pune - from the existing 20,000 units.
Chinese military bodies, state-run artificial intelligence research institutes and universities have over the past year purchased small batches of Nvidia semiconductors banned by the US from export to China, a Reuters review of tender documents show. The sales by largely unknown Chinese suppliers highlight the difficulties Washington faces, despite its bans, in completely cutting off China's access to advanced US chips that could fuel breakthroughs in AI and sophisticated computers for its military.
During the 14th India-US Trade Policy Forum meeting on January 12, an official revealed that India has requested the United States to permit domestic labs for the irradiation of specific fruits, such as mangoes. This initiative aims to assist exporters in reducing additional trade expenses. Currently, exporters are compelled to conduct irradiation at US ports, leading to elevated costs and uncertainty in the event of consignment rejection. Fruit irradiation effectively disinfests them for safe entry into the US.
Wipro Q3 results: Consolidated revenue came in at Rs 22,205 crore, down 4.4 percent YoY, below analyst estimates of Rs 22,343 crore.
Soft drinks maker Coca-Cola on Friday said it will transfer bottling operations of the company to local partners in three regions. Coca-Cola's bottling arm Hindustan Coca-Cola Beverages (HCCB) is transferring bottling operations in Rajasthan, Bihar, and Northeast and parts of West Bengal to its existing partners in these three regions. The bottling operations in these territories will now be owned by Kandhari Global Beverages, SLMG Beverages and Moon Beverages respectively, according to a statement. The move is part of HCCB's strategy to franchise some regional operations to local partners.
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