Business News
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02 Nov 2023
Shiv NadarShiv Nadar is 'India's most generous' with Rs. 2,042cr donation
Shiv Nadar, Chairman of HCL Technologies, has once again been named "India's most generous" for the third consecutive year, as per the EdelGive Hurun India Philanthropy List 2023.
02 Nov 2023
UberUber, Lyft to pay $328mn in NY wage theft settlement
Uber and Lyft have reached a settlement with the state of New York, US, agreeing to pay $328 million over allegations that they systematically underpaid drivers and denied them benefits.
02 Nov 2023
Tata Motors LtdTata Motors reports Q2 profit of Rs. 3,764cr
Tata Motors reported a consolidated net profit of Rs. 3,764 crore for the July-September quarter, a significant turnaround from the Rs. 944 crore net loss in the same period last year.
02 Nov 2023
IndiaUAE considering investment worth $50 billion in India
The United Arab Emirates (UAE) is contemplating an investment of up to $50 billion in India, as part of a larger strategy to capitalize on the world's fastest-growing major economy.
02 Nov 2023
Stock MarketSensex gains over 530 points, Nifty closes above 19,140 mark
On Thursday, the stock market had a bearish opening but the benchmark Sensex and Nifty indices witnessed a surge.
02 Nov 2023
Adani GroupAdani Enterprises's Q2 profit plummets 51% YoY to Rs. 228cr
Gautam Adani's flagship company, Adani Enterprises Ltd, witnessed a 51% year-on-year (YoY) drop in consolidated net profit for the quarter ending September 2023, totaling Rs. 227.82 crore.
02 Nov 2023
Adani GroupAdani Power reports an 848% increase in Q2 net profit
Adani Power revealed a staggering 848% boost in its consolidated net profit for the quarter ending September 30, 2023, reaching Rs. 6,594 crore.
02 Nov 2023
ICICI BankEMIs to rise as ICICI, BOI hike lending rates
ICICI Bank, a private sector lender, and Bank of India (BOI), a public lender, have raised their marginal cost-based lending rates (MCLR).
02 Nov 2023
Indian GovernmentIAMAI seeks two-year extension to comply with Data Protection Act
The Internet and Mobile Association of India (IAMAI), representing over 550 domestic and international tech firms, has asked the Indian government for a two-year extension to comply with specific provisions of the Digital Personal Data Protection (DPDP) Act.
02 Nov 2023
Aditya Birla GroupGrasim appoints SBI, Axis advisors for Rs. 4,000cr rights issue
Grasim Industries has enlisted the help of Axis Capital, Jefferies, Kotak Mahindra Capital, and SBI Capital as advisors for its upcoming rights issue, which aims to raise up to Rs. 4,000 crore.
02 Nov 2023
VedantaVedanta Resources seeking $500 million loan to fulfill repayment obligations
Vedanta Resources is in talks with Cerberus Capital Management and Varde Partners to obtain a $500 million loan. This will contribute to fulfilling a $1 billion repayment obligation due in January.
02 Nov 2023
AppleCERT-In investigates iPhone hacking alert issue; notice sent to Apple
The Apple threat notification issue, raised by several Opposition MPs, is now under investigation by the Computer Emergency Response Team (CERT-In) and a notice has been sent to the company, as confirmed by IT Secretary S Krishnan.
02 Nov 2023
CognizantCognizant's Q3 net profit declines 19.8% to $525 million
Cognizant has experienced a 19.8% drop in net profit for Q3, falling to $525 million from $629 million the previous year.
02 Nov 2023
Initial Public Offering (IPO)India sees record number of IPOs this year
India has become a bustling hub for initial public offerings (IPOs), with a record-breaking number of small and medium-sized businesses going public this year amid a thriving stock market.
02 Nov 2023
SoftBank GroupSoftBank raises $799 million in Japan's first bond-type stock listing
SoftBank Group has raised 120 billion yen (around $799 million) in Japan's inaugural bond-type share listing on the Tokyo Stock Exchange.
02 Nov 2023
InsuranceZurich Insurance buys 51% stake in Kotak General Insurance
Zurich Insurance Group has inked a definitive deal to acquire a 51% stake in Kotak Mahindra General Insurance Company Limited (Kotak General Insurance) for around Rs. 4,051 crore.
02 Nov 2023
United KingdomChina joins US, EU in global AI risk management effort
At the AI Safety Summit in Bletchley Park, England, China has committed to collaborating with the United States (US), European Union (EU), and other nations to address the potential risks associated with artificial intelligence (AI).
02 Nov 2023
CryptocurrencyCryptocurrency prices: Check today's rates of Bitcoin, Ethereum, XRP, Tether
Bitcoin has climbed 3.08% in the past 24 hours, trading at $35,532.45. It is 2.41% higher than last week.
02 Nov 2023
SensexNifty50, Sensex gain 1% as US Fed pauses rate hikes
The domestic market opened higher on Thursday as the US Federal Reserve decided to hit a pause again on rate hikes.
01 Nov 2023
RussiaRussian banks now allow Indians to open account remotely
The Russian government has introduced simplified processes for Indian citizens to open bank accounts in Russia.
01 Nov 2023
Reserve Bank Of India (RBI)Over 97% of Rs. 2,000 banknotes returned to banks: RBI
On November 1, the Reserve Bank of India (RBI) revealed that over 97% of Rs. 2,000 banknotes in circulation have been returned to the banking system.
01 Nov 2023
LinkedInLinkedIn celebrates 1bn members, announces AI tools for job seekers
LinkedIn, the professional networking platform owned by Microsoft, announced on November 1 that it has surpassed one billion members.
01 Nov 2023
State Bank of India (SBI)SBI raises Rs. 10,000 crore via 15-year tier 2 bonds
On November 1, the State Bank of India (SBI), the nation's leading lender in terms of assets, revealed that it has raised Rs. 10,000 crore through the issuance of tier 2 bonds.
01 Nov 2023
Income Tax Return7.85cr ITRs filed till October 31, highest ever in India
The filing of Income Tax Returns (ITR) has reached a record-breaking milestone in 2023, with 7.85 crore filings documented by October 31 in FY23-24.
01 Nov 2023
Hero MotoCorpHero MotoCorp chairperson takes pay cut, Q2 profit up 47%
Hero MotoCorp's Executive Chairperson, Pawan Munjal, has voluntarily chosen to reduce his fixed salary by 20%.
01 Nov 2023
NiftyNifty50, Sensex suffer biggest monthly decline of 2023 in October
In October, the benchmark indices Nifty50 and Sensex saw their worst monthly decline of 2023, dropping over 2.84% and 3%, respectively.
01 Nov 2023
Enforcement Directorate (ED)ED attaches Jet Airways' properties worth Rs. 538 crore
The Enforcement Directorate (ED) attached properties worth Rs. 538.05 crore as a part of its investigation into the money laundering allegations against Jet Airways on Wednesday.
01 Nov 2023
Indian GovernmentOctober GST collection touches second-highest ever at Rs. 1.72L crore
The Ministry of Finance revealed that the Centre's Goods and Services Tax (GST) revenue for October 2023 reached Rs. 1.72 lakh crore.
01 Nov 2023
WorkplaceIndian firms expected to offer 9.8% salary increment in 2024
In 2024, Indian firms are predicted to increase employee wages by 9.8%, nearly matching the 10% hike in 2023, as stated in the recent Salary Budget Planning Report by the global advisory company WTW.
01 Nov 2023
Stock MarketSensex slips to 63,591 points, Nifty settles below 19,000 mark
On Wednesday, the benchmark Sensex and Nifty indices witnessed a slump.
01 Nov 2023
Unified Payments Interface (UPI)UPI transaction volume crosses 1,100 crore mark in October
Unified Payments Interface (UPI) has achieved a new milestone by surpassing 1,140 crore transactions in October, with the total transaction value exceeding Rs. 17.6 lakh crore.
01 Nov 2023
ChinaChina Evergrande proposes new debt restructuring plan
China Evergrande has put forth a new debt restructuring proposal for its offshore bondholders, suggesting they exchange their debts for a 30% equity stake in each of the developer's two Hong Kong-listed subsidiaries, Reuters reported.
01 Nov 2023
United KingdomUK's AI Safety Summit begins today: What to expect
The United Kingdom's Prime Minister Rishi Sunak is set to host the world's first global 'AI Safety Summit' today.
01 Nov 2023
CryptocurrencyToday's cryptocurrency prices: Check rates of Bitcoin, Ethereum, BNB, Solana
Bitcoin has climbed 0.59% in the past 24 hours, trading at $34,447.50. It is 0.86% higher than last week.
01 Nov 2023
LPG CylinderCentre hikes commercial LPG rates by over Rs. 100
Government-owned oil companies, Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation, have raised the prices of 19kg commercial LPG cylinders by up to Rs. 101.5 in the four metro cities.
01 Nov 2023
WeWorkWeWork shares nosedive 42% amid bankruptcy reports
WeWork shares took a nosedive of over 42% in after-hours trading following news from the Wall Street Journal (WSJ) indicating the company might file for bankruptcy next week.
31 Oct 2023
Larsen & ToubroL&T's Q2 profit goes up 45% to Rs. 3,223 crore
Larsen & Toubro (L&T) has experienced a 45% year-on-year surge in net profit for the second quarter of the 2023-24 fiscal year, reaching Rs. 3,223 crore.
31 Oct 2023
IndiaIndia's core sector growth touches 4-month low: Here's why
In September, India's eight core industries saw an 8.1% growth rate YoY, marking the lowest increase in four months, as reported by the Ministry of Commerce and Industry.
31 Oct 2023
Bharti AirtelBharti Airtel's Q2 profit drops 38%, ARPU at Rs. 203
Bharti Airtel experienced a 37.5% drop in consolidated net profit during the quarter ending in September, plummeting to Rs. 1,340.7 crore from Rs. 2,145.2 crore in the same quarter last year.
31 Oct 2023
Indian GovernmentCentre's fiscal deficit widens to Rs. 7L crore in April-September
The Indian government's fiscal deficit expanded to Rs. 7.02 lakh crore during April-September, up from Rs. 6.43 lakh crore in April-August, as reported by the Controller General of Accounts.
