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During the quarter, Maruti Suzuki registered net sales income of ₹35589 crore against ₹ 35535 crore in the same period of the previous year. | Photo Credit: Reuters Maruti Suzuki India Ltd. (MSIL) for the second quarter ended September 30, 2024 reported 17% drop in net profit to ₹3,069 crore as compared with ₹3,716.5 crore…
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Forex traders said the rupee is hovering around record low levels as the strong dollar weighed on the local unit. | Photo Credit: REUTERS The rupee settled flat at 84.07 (provisional) against the U.S. dollar on Tuesday, as the support from positive domestic markets and a softening crude oil prices was negated by persistent foreign…
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IT Minister Nara Lokesh meeting Microsoft CEO Satya Nadella at the company’s headquarters in Redmond, U.S. Photo: Special Arrangement Minister for IT and Electronics Nara Lokesh met Microsoft CEO Satya Nadella at the company headquarters in Redmond on Tuesday (October 29, 2024). Mr. Lokesh is on a week-long visit to the U.S. since October 25…
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Swiggy has in recent weeks cut its internal valuation goal twice by a combined 25% due to volatility in the Indian stock markets. File. | Photo Credit: Reuters Food delivery giant Swiggy will likely price its $1.35 billion domestic initial public offering, which opens next week, at ₹371-390 per share, sources with direct knowledge of…
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Image used for representational purposes. File The rupee opened on a flat note and depreciated 1 paisa to 84.08 against the U.S. dollar in initial deals on Tuesday (October 29, 2024), as persistent foreign fund outflows and the strength of the American currency in the overseas market dented investor sentiments. Forex traders said a muted…
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People walk past the Bombay Stock Exchange (BSE) building, in Mumbai. | Photo Credit: PTI Equity benchmark indices fell in early trade on Tuesday (October 29, 2024) amid continuous foreign fund outflows from the capital markets and largely muted earnings from corporates so far. The BSE Sensex declined 322.24 points to 79,682.80 during the initial…
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India’s economy has likely entered a cyclical growth slowdown and growth may slip below 6.7% in the face of emerging risks, Nomura economists reckoned, noting that weak urban demand is likely to stay insipid amid high interest rates and moderating wage growth. “Urban consumption indicators have been softening lately… We believe this weakness in urban…
India IT services market grew 6.1% year-over-year (YoY) in calendar 2023. File | Photo Credit: The Hindu The India IT services market grew 6.1% year-over-year (YoY) in calendar 2023, reaching a market size of $14.5 billion, reported International Data Corporation (IDC) on Monday (October 28, 2024). While IT investments showed a slower recovery compared to…
Finance Ministry acknowledged emerging concerns of softening consumer sentiments and faltering demand, particularly in urban India, as well as a moderation in industrial momentum in recent months, even as it maintained that the economy will grow between 6.5% and 7% through 2024-25. The Finance Ministry on Monday (October 28, 2024) acknowledged emerging concerns of softening…
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Indian Oil Corporation Ltd (IOC) reported a massive 98.6% drop in net profit in the September quarter, as refinery margins fell and marketing margins shrunk. | Photo Credit: G.N. Rao State-owned Indian Oil Corporation Ltd (IOC) on Monday (October 28, 2024) reported a massive 98.6% drop in net profit in the September quarter, as refinery…
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