IBT Business Desk

Articles by IBT Business Desk

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India's manufacturing activity surges in June, hiring at 19-year high

India's manufacturing activity picked up momentum in June on the back of rising consumer demand leading to the fastest rate of hiring in 19 years, according to HSBC's final India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global.

Jul 1, 2024

Sensex jumps more than 1,000 points on impressive GDP numbers (Ld)

Sensex at 79,484, up 451 points, Nifty at 24,143, up 132 points on positive global cues

Sensex was up 451.39 points or 0.57 percent at 79,484.12, and the Nifty was up 132.60 points or 0.55 percent at 24,143.20.

Jul 1, 2024

Market This Week: PMI data, budget and auto sales to be key triggers

Indian equity indices closed with gains last week despite mixed cues from global peers. Frontline indices both Sensex and Nifty posted gains of more than 2 per cent making their fourth consecutive week of growth.

Jun 30, 2024

India is now world's 3rd largest domestic aviation market, next to US, China

India has now become the world's third-largest domestic aviation market after the U.S. and China, as airlines such as IndiGo and Air India have expanded their fleet size to cater to the surge in air passengers, according to data compiled by aviation analytics firm OAG.

Jun 28, 2024

Sensex closes on flat note, Nifty holds 22,500 level

Indian equity benchmarks closed on a flat note on Tuesday following sideways trading in the market.

May 21, 2024

"Stop charging extra interest on loans"; RBI cracks down on banks amid unfair practices

The Reserve Bank of India (RBI) on Monday directed banks and NBFCs to immediately review their practices to ensure that they are fair and transparent in the interest they charge customers as several instances have been detected where excessive interest has been charged on loans.

Apr 29, 2024

Unilever to spin off ice cream business, eliminate 7,500 jobs [details]

Unilever, the parent company of Hindustan Unilever, on Tuesday announced to separate its ice cream unit into a standalone business, in a restructuring exercise that will result in nearly 7,500 job losses at the company.

Mar 19, 2024

ITC gross revenue at Rs 17,483 cr for Q3 represents 2.1% YoY growth

Amid a challenging macro-economic and operating environment and high base effect in some of its operating segments, ITC Limited delivered resilient performance during the quarter ended December 31, 2023.

Jan 29, 2024

Nifty records biggest single-day gain since Dec 4: RIL, ONGC biggest gainers [details]

Nifty ended the first day of the week with its biggest single-day gain since December 4 with heavyweight Reliance Industries contributing the most to the gains, Deepak Jasani, Head Retail Research at HDFC Securities, said on Monday.

Jan 29, 2024

Omidyar Network India To Wind Up Operations, Stops Making New Investments

What does Omidyar Network's surprise exit mean for India's investment landscape

Omidyar Network India surprises by announcing its exit from the Indian market by 2024 amid a dip in funding for the country's tech startups. Let's take a look at how this move could impact India's investment landscape.

Dec 12, 2023

upi npci bank payments mobile banking goes live 21 banks digital banking unified payment interface national payments rbi commercial

UPI transactions soar to all-time high of Rs 17.16 lakh crore in October

Unified Payment Interface (UPI) transactions soared to an all-time high of Rs 17.16 lakh crore in October with a 9 per cent increase from Rs 15.8 lakh crore in September this year, according to data.

Nov 1, 2023

Oil prices fall again as Israel-Hamas conflict deepens

Oil prices on Monday fell again as there are fears that Israel's move to expand its military operations in Gaza can lead to a regional conflict which can adversely affect the global economy, media reports said.

Oct 30, 2023

Tatas set to write new India iPhone manufacturing story post Wistron plant acquisition

With Taiwanese electronics manufacturer Wistron selling its India operations to Tata Group for $125 million, Tata Electronics is going to become the first Indian company to manufacture new Apple iPhones in the country, which is a major fillip to the government's 'Make in India' initiative.

Oct 27, 2023

RBI fines Mumbai bank for levying extra charge on ATM cards

The RBI has slapped a fine of Rs 13.3 lakh on SVC Co-operative Bank Ltd., Mumbai as it was imposing annual maintenance charges for ATM cards in Basic Savings Bank Deposit Accounts in violation of the central bank's directions.

Oct 23, 2023

'Suspicious' payout that exposed Rs 16,000 cr scam bigger than PNB con [details]

The mega-scam was officially revealed on October 9 by Thane's Shrinagar Police Station which had lodged a FIR after a complaint was filed by Safexpay Technology Pvt. Ltd., Thane.

Oct 22, 2023

Markets likely to remain under pressure as US bond yields at 16 year highs

Markets are likely to remain under pressure amid a sharp surge seen in U.S. 10-year treasury yields to 16-year highs of 4.5 per cent, says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Service.

Sep 26, 2023

EV firm Ather Energy's losses swell 2.5 times to reach Rs 865 cr in FY23 [details]

Hero MotoCorp-backed electric vehicle (EV) company Ather Energy's losses surged more than 2.5 times in the financial year 2022-23.

Sep 24, 2023

Google Co-founder Sergey Brin quietly divorced wife after alleged affair with Musk

Google co-founder Sergey Brin quietly divorced Nicole Shanahan, an attorney and entrepreneur, over rumours that Shanahan was engaged in a romantic relationship with Tesla and SpaceX CEO Elon Musk.

Sep 17, 2023

Nifty closes lower with a loss of 2% for the month of August [details]

Domestic equities saw profit booking on the last day of the month ahead of GDP data and monthly FNO expiry. Overall, for the month of August Nifty closed lower with a loss of 2 per cent, said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Aug 31, 2023

India gets its 1st unicorn of 2023 in Zepto which raises $200 mn

India gets its 1st unicorn of 2023 in Zepto; valued at $1.4 billion after $200mn funding round

Ending the unicorn drought in India amid the ongoing funding winter, online grocery company Zepto on Friday announced it has raised $200 million in its Series E round, valuing the company at $1.4 billion.

Aug 25, 2023

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