Category: Business

Business

Hyundai Motor India’s ₹27,870 crore IPO subscribed 9% so far on Day 1

October 15, 2024 admin

File picture of Hyundai Motor India logo | Photo Credit: Reuters The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, received 9 per cent subscription during the initial hours of bidding on Tuesday (October 15, 2024). The ₹27,870 crore initial share sale received bids for 89,92,522 shares…

Business

Sensex, Nifty climb in early trade on buying in IT, bank stocks

October 15, 2024 admin

The BSE benchmark Sensex jumped 591.69 points or 0.73% to settle at 81,973.05 on Monday (October 14, 2024). File | Photo Credit: PTI Equity benchmark indices rallied in early trade on Tuesday (October 15, 2024) amid buying in IT and bank stocks along with a sharp cut in Brent crude oil prices. The BSE Sensex…

Business

Tata Group to create five lakh manufacturing jobs in five years, says chairman Chandrasekaran

October 15, 2024 admin

Workers install the electric motor inside a Tata Nexon electric sport utility vehicle (SUV) at the Tata Motors plant in Pune. File photo | Photo Credit: REUTERS Tata Group will create five lakh manufacturing jobs in the next five years across sectors such as semiconductor, electric vehicles, battery and related industries, its Chairman N. Chandrasekaran…

Business

SpiceJet settles ₹23.39-million dispute with Aircastle, Wilmington Trust

October 15, 2024 admin

Budget carrier SpiceJet on Tuesday (October 15, 2024) said it has successfully settled a USD 23.39-million dispute with two aircraft lessors — Aircastle and Wilmington Trust, days after amicably resolving a similar dispute with a US-based aircraft leasing firm, BBAM. Also read: SpiceJet says reached settlement on ₹413-crore dispute with Echelon Ireland Madison One As…

Business

Reliance expects to complete merger with Disney’s India business in Q3

October 15, 2024 admin

Reliance Industries Ltd logo. File | Photo Credit: Reuters The merger of media assets of Reliance Industries Limited (RIL) and the India business of global media house Walt Disney is expected to be complete by the end of the third quarter of this fiscal, according to a regulatory filing by billionaire Mukesh Ambani-led group. The…

Business

On Samsung workers’ right to unionise

October 15, 2024 admin

The realisation of their fundamental right to form a registered trade union to collectively bargain for better terms of employment is at the heart of the protests by Samsung India workers’ at Sriperumbudur in Tamil Nadu. They want to meet the South Korean giant on equal terms across the negotiating table to jointly frame a…

Business

A strike, and Tamil Nadu’s challenge

October 14, 2024 admin

CPI(M) leader Soundararajan meets Samsung employees protesting over various demands, in Chennai. | Photo Credit: ANI The ongoing workers’ strike at the manufacturing facility of Samsung, the South Korean electronics giant, in Sriperumbudur near Chennai, appears to have put the Chief Minister M.K. Stalin-led Dravida Munnetra Kazhagam (DMK) government in a spot. The workers have…

Business

Economics Nobel Winners 2024 and their studies on ‘how institutions are formed and affect prosperity’

October 14, 2024 admin

Economics Nobel winners Daron Acemoglu, Simon Johnson and James A Robinson being announced at the Royal Swedish Academy of Sciences in Stockholm, Sweden, on October 14, 2024. | Photo Credit: Reuters The Royal Swedish Academy of Sciences on Monday (October 14, 2024) awarded the Nobel Prize in Economics to Daron Acemoglu, Simon Johnson and James…

Business

Reliance Industries Q2 net profit drops 2.8% to ₹19,323 crore

October 14, 2024 admin

Reliance Industries Limited (RIL) chairman Mukesh Ambani. File | Photo Credit: PTI Reliance Industries Ltd reported second quarter consolidated net profit dropped 2.8% to ₹19,323 crore from ₹19,878 crore in the same period last year. Gross revenue for the quarter ended September 30, 2024 remained stable Y-o-Y at ₹2,58,027 crore, the company said in a…

Business

Sensex rises 592 points, Nifty settles above 25K on gains in IT, banking shares

October 14, 2024 admin

Maruti Suzuki India, Tata Steel, Bajaj Finance, UltraTech Cement, Nestle India, Axis Bank and Tata Consultancy Services (TCS) were among the laggards. File | Photo Credit: PTI Benchmark BSE Sensex jumped nearly 592 points while Nifty reclaimed the 25,000 level on Monday (October 14, 2024) following gains in IT and banking shares amid a firm…

Business