Finance: News

12 Jun 2024

Business

GameStop raises over $2 billion amid Roaring Kitty-led rally

GameStop, the video game retailer, has successfully concluded an "at-the-market" equity offering, raising approximately $2.14 billion in gross proceeds.

30 May 2024

Sunny Deol

Sunny Deol faces serious cheating, extortion allegations from producers

Prominent actor and Member of Parliament, Sunny Deol, is under scrutiny following accusations of cheating, extortion, and forgery.

Zerodha MF expands offerings with launch of large-cap, mid-cap ETFs

Zerodha Mutual Fund has introduced two new exchange-traded fund (ETF) schemes in India, called the Zerodha Nifty 100 ETF (ZN100) and Zerodha Nifty Midcap 150 ETF (ZM150).

28 May 2024

Indian Rupee (INR)

Rupee to gain momentum as India joins bond index: Citi

Citigroup Inc. has projected a strong performance for the Indian rupee in the Asian region this year.

27 May 2024

Business

Nazara Tech promoter offloads 6% stake to address liquidy needs  

Nazara Tech, on Monday, announced that its promoter Mitter Infotech LLP has divested a significant portion of its holdings.

26 May 2024

Business

Venturi Partners to launch India-centric fund for family offices

Asian private-equity firm, Venturi Partners, is planning to launch a $75-100 million fund in India later this year.

15 May 2024

Morgan Stanley

Virat Kohli-backed Go Digit raises $141M funding as IPO opens

Indian insurance startup, Go Digit, has successfully secured $141 million from a group of investors as its initial public offering (IPO) opens today.

09 May 2024

Business

Sula Vineyards shares plummet 8% after Q4 profit declines

Sula Vineyards, India's top winemaker by revenue, saw an 8% drop in its shares on Thursday. At the time of writing, the stock was trading at ₹498.

08 May 2024

Solana

FTX has billions more than required to repay bankruptcy victims

FTX, once a leading cryptocurrency exchange, has successfully gathered billions in surplus funds following its November 2022 collapse.

Godrej family's billion-dollar business restructuring won't attract tax: Here's why

The Godrej Group, a 127-year-old family-owned conglomerate, has recently declared its decision to split into two separate entities.

05 May 2024

Mahindra & Mahindra

M&M Finance reports 10% drop in Q4 FY24 net profit

Mahindra & Mahindra Financial Services (M&M Finance), a prominent non-banking financial company, has reported a 10% year-on-year (YoY) decrease in its net profit for the fourth quarter of FY24.

04 May 2024

IDBI Bank

IDBI Bank reports 44% surge in Q4 net profit

IDBI Bank, a prominent private sector lender, has reported a significant 44% increase in its net profit, for the fourth quarter of the fiscal year 2023-24.

04 May 2024

Kotak Mahindra Bank

Kotak Mahindra Bank announces 17% net profit increase in Q4 

Kotak Mahindra Bank, a prominent private sector lender, has reported a 16.88% year-on-year (YoY) rise in its consolidated net profit for the first quarter of the year.

FirstCry CEO's monthly salary drops by 49% to ₹8.6 crore

Supam Maheshwari, the founder and CEO of FirstCry, has experienced a significant reduction in his monthly salary.

25 Apr 2024

Startups

Lenskart in talks to raise $200M at valuation of $5B

Lenskart, a prominent eyewear retailer in India, is reportedly discussing a potential $200 million investment deal with Singapore's Temasek and US-based Fidelity.

19 Apr 2024

Business

Godrej family begins formal division of century-old conglomerate

The prominent Godrej family has reportedly begun the formal division of their extensive empire, with a focus on imminent divestments.

15 Apr 2024

Startups

Zerodha co-founder Nikhil Kamath launches 'WTFund' for Gen Z entrepreneurs

Billionaire Nikhil Kamath, co-founder of Zerodha, has introduced WTFund, a unique non-dilutive grant agnostic fund.

15 Apr 2024

NBFC

Aditya Birla Capital set to launch comprehensive fintech super app

Aditya Birla Capital Ltd., a leading non-banking financial company (NBFC) in India, is preparing to launch an all-encompassing fintech super app named 'ABCD.'

02 Apr 2024

Stock Market

CoinSwitch parent launches stock trading app to rival Zerodha, Groww

PeepalCo, the parent company of crypto trading app CoinSwitch, has officially entered the stock broking sector with its latest app, Lemonn.

29 Mar 2024

India

India's April-February fiscal deficit covers 86.5% of FY24 target

India's fiscal deficit from April to February in FY24, has reached Rs. 15.01 lakh crore, marking approximately 86.5% of the annual target, according to recent data.

05 Mar 2024

Stock Market

Why India's inclusion in Bloomberg Bond Index matters 

Bloomberg Index Services (BISL) has announced that Indian bonds will join its Emerging Market (EM) Local Currency Index starting January 31, 2025.

19 Feb 2024

Business

Japan's Kirin invests $25M in craft beer brand Bira 91

Japan's Kirin Holdings is set to invest an additional $25 million in B9 Beverages, the company behind craft beer Bira 91 and pub chain Beer Cafe.

09 Feb 2024

Stock Market

Bandhan Bank's Q3 net profit jumps threefold to Rs. 733cr

Bandhan Bank has announced a remarkable 152.06% increase in net profit, reaching Rs. 732.7 crore for the third quarter ending December 31, 2023.

02 Feb 2024

Stock Market

Delhivery's Q3 revenue up 20% YoY to Rs. 2,194 crore

Delhivery has announced a net profit of Rs. 11.7 crore for the quarter ending in December 2023.

01 Feb 2024

Lakshadweep

Interim Budget: Centre's focus on boosting Lakshadweep's tourism, says Sitharaman

During her budget speech on Thursday, Union Finance Minister Nirmala Sitharaman announced the government's plan to ramp up investment in the tourism sector.

01 Feb 2024

Nirmala Sitharaman

Centre's Rs. 1tn fund offers interest-free loans to boost innovation

Union Finance Minister Nirmala Sitharaman, presented the Interim Budget 2024-25, in the Parliament today.

25 Jan 2024

India

Indian Bank's wholly-owned subsidiary will ensure on-ground money collection, recovery

Indian Bank will launch a wholly-owned subsidiary in India, backed by a capital infusion of Rs. 10 crore. It will focus on collection, sales, back-office processing, and marketing.

24 Jan 2024

Tata Steel

Tata Steel reports Q3 profit of Rs. 522 crore

Tata Steel experienced a remarkable turnaround in Q3 FY24.

04 Jan 2024

Business

'Rich Dad, Poor Dad' author admits to $1.2 billion debt

The author of Rich Dad, Poor Dad, Robert Kiyosaki recently shared that he has accumulated $1.2 billion in debt.

02 Jan 2024

JP Morgan

FPI investment in Indian debt instruments turns positive in 2023

In 2023, foreign portfolio investors (FPIs) poured Rs. 68,663 crore into Indian debt instruments, a significant turnaround after three years of outflows.

29 Dec 2023

Government of India

Interest rates raised on select small savings schemes for Jan-Mar

The Government of India has announced an uptick in interest rates for two small savings schemes in the January-March 2024 quarter.

29 Dec 2023

India

India's April-November fiscal deficit narrows to 50.7% of FY24 target 

India's fiscal deficit for the first eight months of the current financial year, from April to November, reached Rs. 9.07 lakh crore.

20 Dec 2023

India

Indian companies' dollar bond fundraising hits 14-year low: Here's why

In 2023, Indian companies experienced their lowest dollar bond fundraising since 2009, raising a mere $4.1 billion through six bond issues.

20 Dec 2023

Bank of Baroda

Bank of Baroda, NABARD, and IREDA raise crores through bonds

Bank of Baroda has raised Rs. 2,500 crore via 10-year Basel-III Tier-II bonds, offering a 7.75% coupon rate.

SIDBI and KIIFB to float bonds worth Rs. 6,500 crore

The Small Industries Development Bank of India (SIDBI) and Kerala Infrastructure Investment Fund Board (KIIFB) will issue bonds totaling Rs. 6,499.96 crore tomorrow (December 21).

RBI restricts lenders from investing in AIFs with debtor links

The Reserve Bank of India (RBI) has declared that regulated entities (REs), such as banks, non-bank lenders, and home financiers, are now forbidden from investing in alternative investment funds (AIFs).

14 Dec 2023

Vedanta

Vedanta Resources secures $1.25 billion loan for debt refinancing

Vedanta Resources Ltd (VRL), the parent company of Vedanta Group, announced that it has secured $1.25 billion from private credit lenders.

08 Dec 2023

Startups

Zerodha founders' salaries touch Rs. 200 crore in FY23

Zerodha co-founders and brothers, Nithin and Nikhil Kamath, received a combined compensation of Rs. 195.4 crore in fiscal year 2022-23 (FY23).

24 Nov 2023

Government of India

Centre permits online bond platform providers to form industry body

The Indian government has given the green light to online bond platform providers to establish their industry body, the 'OBPP Association.'

22 Nov 2023

Lifestyle

How to have open conversations about money with your partner

Building a new relationship is an exhilarating journey, but the terrain of discussing financial matters can be intimidating.

16 Nov 2023

Business

Siemens forecasts sales growth to slow down in 2024

Siemens has provided a more conservative sales forecast for 2024 after announcing better-than-expected Q4 industrial profits.

08 Nov 2023

Tata Power

Tata Power's Q2 profit rises 8.8% YoY to Rs. 1,017cr

Tata Power has announced an 8.8% year-over-year (YoY) increase in its consolidated net profit for Q2 FY24, reaching Rs. 1,017 crore.

IRCTC's Q2 net profit rises 30% to Rs. 295 crore

The Indian Railway Catering and Tourism Corporation (IRCTC) has announced a net profit of Rs. 294.67 crore for Q2 of FY24.

03 Nov 2023

Stock Market

MRF's Q2 net profit surges fivefold to Rs. 572 crore

MRF Ltd witnessed a remarkable surge in its Q2 net profit, soaring five times to Rs. 572 crore, compared to Rs. 124 crore during the same period last year.

03 Nov 2023

Business

Maersk announces 10,000 job cuts amid weaker shipping demand

Danish shipping group Maersk has experienced a substantial decline in Q3 revenue. This has prompted the firm to eliminate 10,000 jobs due to decreased freight rates and weakened demand for container shipping.

03 Nov 2023

BMW

BMW's Q3 margin beats estimates, maintains annual forecast

BMW has revealed an increased third-quarter automotive margin, with high-priced and electric vehicle sales keeping the company on track to meet yearly projections.

02 Nov 2023

United Kingdom

Bank of England's interest rate at 15-year high of 5.25%

The Bank of England (BoE) has decided to keep the interest rate steady at a 15-year high of 5.25%, as it continues to combat the highest inflation among major developed economies.

02 Nov 2023

Adani Group

Adani 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.

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