Category: Business

Business

Equity investors poorer by ₹7.15 lakh crore in morning trade as markets slump

October 25, 2024 admin

Both BSE and Nifty tumbled on October 25, 2024, after Indusind Bank shares tanked. Image for representational purpose. | Photo Credit: VIVEK BENDRE Investors’ wealth eroded by a whopping ₹7.15 lakh crore during the morning trade on Friday as equity markets tumbled, driven by sharp fall in IndusInd Bank shares and unabated foreign fund outflows….

Business

IndusInd Bank shares plunge 17%; Mcap erodes by ₹15,572 crore amid disappointing earnings

October 25, 2024 admin

Image used for representative only | Photo Credit: The Hindu Shares of IndusInd Bank on Friday (October 25, 2024) morning tumbled nearly 17% to hit the 52-week low level after the firm reported a 40% decline in net profit at ₹1,331 crore in the quarter ended September 2024. The stock dived 16% to hit the…

Business

Rupee turns flat at 84.07 against US dollar in early trade

October 25, 2024 admin

Representational image | Photo Credit: REUTERS The rupee stayed in a straightjacket for yet another week, trading at its near all-time low of 84.07 against the US dollar on Friday (October 25, 2024) amid firm American currency and unprecedented foreign fund outflow. Forex traders said, the indication of some recovery in domestic equity markets prevented…

Business

HAL appoints Barenya Senapati as Director Finance

October 25, 2024 admin

Barenya Senapati | Photo Credit: Special Arrangement Hindustan Aeronautics Ltd (HAL) has announced the appointment of Barenya Senapati as Director Finance. Mr. Senapati is a Fellow Member of The Institute of Chartered Accountants of India and has 31 years of post-qualification experience in Finance. He joined HAL in 1995 and has experience of 29 years in…

Business

Godrej Properties emerges as the highest bidder for luxury housing plot in Gurugram

October 25, 2024 admin

Image used for representative purpose only | Photo Credit: Getty Images/iStockphoto Godrej Properties Ltd. (GPL) said it has emerged as the highest bidder and has secured the Letter of Intent to develop a group housing plot at Golf Course Road in Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). The plot,…

Business

Cabinet approves ₹1,000 crore venture capital fund for 40 space sector startups

October 24, 2024 admin

Centre approves setting up of a ₹1,000 crore venture capital fund to help space sector start ups | Photo Credit: The Hindu The Union Cabinet on Thursday (October 24, 2024) approved setting up of a ₹1,000 crore venture capital fund to help space sector start ups, Union minister Ashwini Vaishnaw said. The fund is expected…

Business

Rupee stays unchanged at 84.07 against U.S. dollar

October 24, 2024 admin

On October 23, 2024, the Rupee had settled with a marginal gain of one paisa at 84.07 against the U.S. dollar. File | Photo Credit: The Hindu The Rupee stayed stuck at its near-record low of 84.07 (provisional) against the U.S. dollar on Thursday (October 24, 2024) as surging crude oil prices and persistent foreign…

Business

Ashok Leyland arm bags 500 e-buses order from Chennai MTC

October 24, 2024 admin

Ashok Leyland’s Switch EiV12 are powered by a robust 650V electric architecture and features IP67-rated batteries. | Photo Credit: Special Arrangement Ashok Leyland (ALL) announced that its subsidiary OHM Global Mobility has bagged an order for 500 units of 12-m ultra-low floor electric buses from the Metropolitan Transport Corporation (MTC), Chennai. While 400 of these…

Business

Zomato, Swiggy hike platform fee in certain cities amid festive season

October 24, 2024 admin

Food delivery service platforms Zomato and Swiggy charge platform fee, which part of their revenue. | Photo Credit: B. Jothi Ramalingam Online food delivery platforms Zomato and Swiggy have hiked platform fee in certain cities in the midst of festive season. In a regulatory filing, clarifying on a report that the company has hiked its…

Business

Disney Hotstar head Sajith Sivanandan quits after India merger with Reliance: Report

October 24, 2024 admin

Sajith Sivanandan. | Photo Credit: Bijoy Ghosh The head of U.S. giant Disney’s Hotstar streaming app in India, Sajith Sivanandan, has resigned, three sources said on Thursday (October 24, 2024), as business integration gathers pace after the company’s $8.5 billion merger with Reliance’s India media assets. The resignation comes days after an internal decision for…

Business