Category: Business

Business

LIC Q3 net profit up 17% to ₹11,056 cr. on lower expenses, premium income

February 7, 2025 admin

Photo used for representation purpose only | Photo Credit: Reuters State-owned Life Insurance Corporation of India (LIC) posted a 17% increase in standalone net profit for December quarter to ₹11,056.47 crore compared to ₹9,444.42 crore a year earlier bolstered by lower expenses of management, especially employee related. The net profit came on a 8% decline…

Business

Markets settle lower after RBI policy; continuous foreign fund outflows dent investors’ sentiment

February 7, 2025 admin

Equity benchmark indices Sensex and Nifty ended lower on Friday (February 7, 2025) as the RBI’s rate cut did not spring any major surprise for the markets and investors turned to profit-taking amid foreign fund outflows. Registering its third day of decline, the 30-share BSE benchmark Sensex dropped 197.97 points or 0.25% to settle at…

Business

Rupee recovers 15 paise from all-time low level to close at 87.44 against U.S. dollar

February 7, 2025 admin

Photo used for illustration purpose only. | Photo Credit: Reuters The rupee recovered 15 paise from its all-time low closing level to 87.44 (provisional) against the U.S. dollar on Friday (February 7, 2025) after the Reserve Bank of India reduced repo rate by 25 basis points in line with street expectations. The Monetary Policy Committee…

Business

Budget 2025 is a bit like discussing Hindi film lyrics from the 90s

February 7, 2025 admin

Satheesh Vellinezhi | Photo Credit: Satheesh Vellinezhi Too many letters. Oh, and I’m not talking about the Russian alphabet, although it also has way too many letters. I’m talking about modern correspondence in this digital age. (The writer apologises for the loose use of the word letters. Sadly, this writer is forever apologising). In fact,…

Business

Infosys lays off over 300 freshers for not clearing internal assessment

February 7, 2025 admin

Infosys said that the process has been in existence for over “two decades and ensures a high quality of talent availability for our clients”. File | Photo Credit: Reuters IT services company Infosys has laid off over 300 freshers who underwent foundational training at its Mysuru campus but could not clear internal assessments after three…

Business

RBI’s rate cut sets stage for further easing of interest rates in near term: India Inc

February 7, 2025 admin

The last revision of rates happened in February 2023 when the policy rate was hiked by 25 basis points to 6.5%. | Photo Credit: Reuters India Inc. welcomed the Reserve Bank of India’s (RBI) move to slash the benchmark interest rate for the first time in nearly five years on Friday (February 7, 2025) and…

Business

Union Budget 2025: Real estate’s direct and indirect benefits

February 7, 2025 admin

The Union Budget, which focused on economic expansion, infrastructure development, MSMEs, futuristic cities, and middle-class welfare, has brought substantial relief for the middle class. It also aimed to stimulate rural consumption — an essential step toward unlocking India’s economic potential. From a real estate perspective, the Budget delivered both direct and indirect benefits, acting as…

Business

Northeast tea body names two nonagenarians associated with beverage industry for first lifetime achievement awards

February 7, 2025 admin

Apurba Kumar Barooah. | Photo Credit: Special arrangement Sagar Mehta. | Photo Credit: Special arrangement GUWAHATI An association of tea producers has named two nonagenarians for its first lifetime achievement awards. The awards are scheduled to be conferred upon 96-year-old Sagar Mehta and 93-year-old Apurba Kumar Barooah at the ‘Chairman’s Dinner’ in eastern Assam’s Golaghat…

Business

Capt. Chowta seeks opening of satellite office of Coffee Board in Mangaluru

February 7, 2025 admin

Union Minister for Commerce and Industry Piyush Goel makes a point to Dakshina Kannada Member of Parliament Captain Brijesh Chowta during their meeting in New Delhi on February 6, 2025. | Photo Credit: SPECIAL ARRANGEMENT Dakshina Kannada Member of Parliament Captain Brijesh Chowta urged Union Minister for Commerce and Industry Piyush Goyal to establish a…

Business

RBI Monetary Policy 2025 key highlights: Repo rate cut to 6.25%, GDP likely to be 6.4%

February 7, 2025 admin

Reserve Bank of India. File | Photo Credit: Reuters In a bid to add to the momentum of the Budgetary reliefs announced by the Centre, the Monetary Policy Committee (MPC) on Friday (February 7, 2025) decided unanimously to reduce the policy rate by 25 basis points to 6.25% from 6.5%. One basis point equals 0.01%….

Business