Oyo Hotels & Homes, founded by Ritesh Agarwal, recorded its first profitable year in FY24 with net profits of nearly Rs 100 crore.
Stock market crash today: The Sensex hit an intraday low of 73,668.73, sliding by almost 800 points, while the Nifty touched 22,459.15, correcting by 250 points. This marks the fourth straight day of declines for the benchmark indices.
Jeh Aerospace and US-based GS Precision have entered a manufacturing partnership to establish a production facility in Hyderabad.
'Modi stocks' go beyond the usual market leaders and include 54 companies within the F&O universe, says global brokerage firm CLSA. Half of these companies are PSUs, and the list features names such as L&T, NTPC, NHPC, PFC, ONGC, IGL, Mahanagar Gas, Bharti Airtel, Indus Towers, and Reliance Industries (RIL).
In June 2024, all private and public sector banks in India will observe 10 holidays, including regional holidays, second and fourth Saturdays, and all Sundays. Online banking services will still be available on these days.
Money deadlines for June 2024: The deadline for completing the nomination process for mutual funds and demat accounts is June 30, 2024. This deadline was previously set for December 31, 2023.
RITES Ltd, a state-owned enterprise, announced a slight decrease of 1.59% in its consolidated net profit for the quarter ending March. The profit stood at Rs 136.67 crore, compared to Rs 138.89 crore in the corresponding period last year, as per the company's exchange filing. The decline in profit was attributed to a reduction in total income.
Finance Minister Nirmala Sitharaman claimed that the Modi government has transformed the Union budget into a strategic plan for fair distribution and efficient use of taxpayer money.
Domestic airfares in India have surged due to capacity constraints, impacting key routes like Mumbai-Delhi and Bengaluru-Delhi. Despite this increase, experts maintain that ticket prices in the country remain among the lowest globally.
Walmart-backed PhonePe and New Delhi-based fintech startup BharatPe have settled a 5-year legal dispute over the 'Pe' suffix usage, withdrawing trademark oppositions for mark registrations.
India's agrochemical sector, currently valued at approximately USD 10 billion, is expected to experience significant growth, reaching a projected value of over USD 14.5 billion by the conclusion of the 2027-28 financial year, according to a report published by Rubix Data Sciences, an analytics services provider. However, the industry encountered a 3% decline in the recently concluded 2023-24 financial year.
Several factors could have contributed to the record profit, including the significant increase in interest rates in the United States, where the RBI invests a substantial portion of its $644 billion foreign exchange reserves (Rs 54 lakh crore).
Aurobindo Pharma's strong financial performance in Q4FY24 and FY24, driven by revenue growth and net profit increase, was supported by market expansions, compliance enhancements, and regulatory adherence. The company's commitment to growth and operational stability remains firm.
Apple has faced an unexpected challenge in India with cash payments, leading to the installation of currency note counting machines in Mumbai and Delhi stores. Sales in these stores show 7-9% cash transactions, much higher than in the US or Europe.
Actor Richa Chadha advises women to invest in mutual funds, open demat accounts, and save consistently. She emphasizes the importance of financial independence and empowerment for women.
IndiGo announced a plan to introduce a business class in flights on the busiest routes, aiming to redefine business travel in India.
As the son of Wipro chairman Azim Premji, Rishad Premji is entitled to a commission of 0.35% on the incremental consolidated net profits of Wipro compared to the previous fiscal year.
PM Modi anticipates new record highs for BJP and stock market on June 4. PM Modi pointed out that when he first took office in 2004, the Sensex was at the 25,000 mark and has since tripled to nearly 75,000.
Corporate fixed deposits, also known as corporate FDs, are term deposits with fixed interest rates held for a predetermined period, primarily issued by Non-Banking Financial Corporations (NBFCs) and Housing Finance Companies (HFCs).
Banks in several states will be closed on Thursday, May 23, due to Buddha Purnima as per the Reserve Bank of India's holiday list. Individuals can utilize digital banking services for simplified financial management on bank holidays.
ASML Holding NV and Taiwan Semiconductor Manufacturing Co. have strategies in place to deactivate the most advanced chipmaking machines globally if China were to invade Taiwan. This information comes from sources familiar with the situation. According to individuals speaking on the condition of anonymity, officials from the US government have raised private concerns with their Dutch and Taiwanese counterparts.
Recalling the days when he planned to launch Zomato, Deepinder Goyal said his father was skeptical about the startup. “My dad at that time told me, janta hai tera baap kaun hai?”
Learn about the Rule of 72 and Rule of 144 for investment growth. Calculate time to double and quadruple returns using these rules as explained by ET with examples, taking 16 years to quadruple the investment.
Oil prices remained stable on Monday due to political uncertainty in key oil-producing nations. This uncertainty arose after the president of Iran passed away in a helicopter crash, and the crown prince of Saudi Arabia postponed his visit to Japan due to his father, the king's, health. Brent's price decreased by 24 cents to $83.74 per barrel by 0958 GMT.
Silver prices have surged in May driven by increased industrial demand, interest rate expectations, positive global manufacturing activity. The white metal has outperformed gold, Sensex and Bitcoin.
Tech billionaire Elon Musk launched Sunday his Starlink service on Indonesia's resort island of Bali as the country aims to extend internet to its remote areas. Musk and the officials also attended a presentation by staff members from Indonesia's community clinics in Bali and Maluku provinces on the acceleration of internet speeds after using Starlink.
New regulations mandate PAN or Aadhaar for gold purchases over a limit. Income Tax Act prohibits cash transactions exceeding Rs 2 lakh in a day. KYC compliance and PMLA rules affect high-value transactions.
Individuals in India can exchange damaged currency notes at any bank branch following varying rules based on the notes' condition and quantity. The process includes exchange limits and procedures for mutilated, soiled, and extremely damaged notes, with service charges as per RBI guidelines.
India has consistently been the top recipient of remittances from its diaspora. In the fiscal year 2022-23, the remittances surpassed the $100 billion mark, reaching $112 billion, with a record-breaking $29 billion in the December quarter alone.
Gold and silver jewellery require hallmarking for purity assurance under Indian standards. Charges are fixed per article, with testing at recognized centres for BIS compliance. HUID codes ensure traceability and lifetime validity.
Banks adjust MCLR monthly based on factors like repo rate. Latest MCLR rates from top 7 banks in May 2024 highlighted. Banks cannot lend below MCLR except in specific cases. Rates effective from specific dates. Consumer loans linked to 1-year MCLR. Yes Bank and Canara Bank rates effective from specific dates. IDBI Bank and SBI rates also provided.
Social Plugin