Category: Business

Business

UltraTech Cement Q2 profit reports consolidated net profit ₹825 crore

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UltraTech Cement Q2 profit reports consolidated net profit ₹825 crore

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

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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Business

AIBEA warns of nationwide strike demanding immediate recruitment of bank staff

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AIBEA warns of nationwide strike demanding immediate recruitment of bank staff

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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Govt to extend UDAN scheme for 10 more years: Naidu

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

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

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

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

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

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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Business

Market capitalisation of four of top-10 valued firms jumps ₹81,151 crore; ICICI, HDFC Bank biggest gainers

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Market capitalisation of four of top-10 valued firms jumps ₹81,151 crore; ICICI, HDFC Bank biggest gainers

Image used for representative purpose only. | Photo Credit: Reuters Four of the top-10 most-valued firms together added ₹81,151.31 crore in market valuation last week, with ICICI Bank and HDFC Bank emerging as the biggest gainers. Last week, the BSE benchmark declined 156.61 points, or 0.19%. While HDFC Bank, Bharti Airtel, ICICI Bank, and the…

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Business

CNG price may rise ₹4-6 on input supply cuts to gas retailers

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CNG price may rise ₹4-6 on input supply cuts to gas retailers

“The Government has slashed by up to 20% the supplies of cheaper domestically produced natural gas to city retailers — a move that may result in ₹4-6 per kg hike in the price of CNG sold to automobiles, unless excise duty on the fuel is cut,” sources said. Natural gas pumped from below the ground…

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