Category: Business

Business

Atal tunnel builder Afcon Infrastructure to raise ₹5,430 crore via IPO on October 25

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Mr. Ramesh Kumar Jha, CFO, Mr. Paramasivan Srinivasan, MD, Mr. Subramanian Krishnamurthy, Executive Vice Chairman, Mr. Hitesh Kumar Singh, Head – Corporate Strategy Afcon Infrastructure Ltd., the company that built the Chenab rail bridge and the Atal tunnel, is set to open bids for an initial public offering of ₹5,430 crore on October 25, according…

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Business

Rupee ends flat at 84.07 against U.S. dollar

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At the interbank foreign exchange market, Rupee opened at 84.06 against the greenback and stayed almost flat throughout the session. File | Photo Credit: The Hindu The Rupee on Monday (October 21, 2024) settled flat at 84.07 (provisional) against the U.S. dollar amid strong American currency against major rivals overseas and relentless foreign fund outflows….

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Business

UltraTech Cement Q2 profit reports consolidated net profit ₹825 crore

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UltraTech Cement’s total income, which includes other income, was at ₹15,855.46 crore. File | Photo Credit: Special arrangement “UltraTech Cement Limited on Monday (October 21, 2024) reported a consolidated net profit of ₹825.18 crore for September quarter 2024-25. It had posted a net profit of ₹1,280.38 crore in July-September FY24,” according to a regulatory filing from…

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Stock markets close lower on sharp fall in Kotak Bank, unabated foreign fund outflows

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From the 30 Sensex firms, Kotak Mahindra Bank tanked more than 4% after the company’s quarterly earnings failed to cheer investors. | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty gave up initial gains and ended lower on Monday (October 21, 2024) tracking a sharp fall in Kotak Mahindra Bank and relentless foreign fund…

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AIBEA warns of nationwide strike demanding immediate recruitment of bank staff

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Representational file image. | Photo Credit: G. Karthikeyan The All India Bank Employees’ Association (AIBEA) might go on a countrywide agitation, including strikes, demanding adequate staff in the public and private sector banks, where positions have been lying vacant for years. In a statement AIBEA General Secretary C.H. Venkatachalam said that they have been demanding…

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Business

Govt to extend UDAN scheme for 10 more years: Naidu

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Civil Aviation Minister K. Rammohan Naidu File | Photo Credit: ANI The government will extend the regional air connectivity scheme UDAN (Ude Desh ka Aam Nagrik) for 10 more years, Civil Aviation Minister K. Rammohan Naidu said on Monday (October 21, 2024). UDAN has led to the birth and growth of regional airlines, generation of…

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Business

Karan Johar’s Dharma Productions sells 50% stake to Adar Poonawalla for ₹1,000 crore

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Adar Poonawalla and Karan Johar | Photo Credit: Special Arrangement Adar Poonawalla-led Serene Productions has announced that it has entered into a binding agreement to invest ₹1,000 crore into Karan Johar’s Dharma Productions and Dharmatic Entertainment. Through this investment, Serene Productions will hold a 50% stake in Dharma, with Karan Johar retaining the remaining 50%…

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Business

Stock Markets give up initial gains dragged by sharp fall in Kotak Bank, unabated foreign fund outflows

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BSE Sensex jumped 545.27 points to 81,770.02 in early trade. File | Photo Credit: PTI Equity benchmark indices began the trade on a buoyant note on Monday (October 21, 2024), helped by buying in blue-chip HDFC Bank, but later gave up all the initial gains amid a sharp fall in Kotak Mahindra Bank and unabated…

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Business

Rupee gains 1 paisa to 84.06 against U.S. dollar in early trade

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File. | Photo Credit: C. Venkatachalapathy The rupee showed a recovery from its lower level and gained marginally by 1 paisa to 84.06 against the U.S. dollar in early trade on Monday (October 21, 2024), tracking positive cues from domestic equity markets and a soft American currency. However, sustained outflow of foreign funds and an…

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Business

India needs to hike domestic fertiliser output to offset unstable market: Economist

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Dr. Nicholas Sitko | Photo Credit: Special Arrangement Senior Economist of the Food and Agriculture Organization (FAO) of the United Nations, Nicholas Sitko, said India has to increase its own fertiliser production capacity as the situation in Ukraine and West Asia is likely to remain unstable. Dr. Sitko, who was in New Delhi in connection…

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