CATEGORIES

VW to hit the brakes on three German factories to cut costs

Plan includes mass layoffs and a 10% wage cut

Israel bombs Tyre in south Lebanon, leaving 7 dead

Israel continued battering Lebanon on Monday, including an early-morning airstrike on the southern port city of Tyre that left seven dead, the Lebanese health ministry said.

When B/E filed in advance, duty rate will be as on date of grant of entry inwards for vessel

Census likely from early 2025, no call yet on caste

Sources say data will be declared by 2026, which may change future cycles

Waqf Bill panel meet: BJP, Oppn engage in verbal clash again

Members of ruling and Opposition parties engaged in verbal clash as former judges and Waqf administrators of different states appeared before the Parliament's panel on the Waqf Bill, which met for the first time on Monday after TMC member Kalyan Banerjee's suspension for unruly conduct.

IndianOil slips into red in Q2

Suffering from lower refining and marketing margins, state-run Indian Oil Corporation Ltd (IOCL) ended the second quarter of 2024-25 (Q2FY25) with a net loss of ₹169.58 crore (attributable to the owners), as compared to the ₹13,114.3 crore net profit registered in Q2FY24.

Spandana Sphoorty suffers 216 crore consolidated loss

Microfinance lender Spandana Sphoorty Financial suffered a consolidated loss of ₹216 crore in the quarter ended September 2024 (Q2FY25) on multi-fold rise in provisions for stressed loans.

Recoveries drive Indian Bank's profit up 36%

Public-sector lender Indian Bank's net profit during the September quarter of 2024-25 (Q2FY25) rose 36 per cent year-on-year (Y-o-Y) to ₹2,707 crore, predominantly driven by a sharp rise in non-interest income (NII) and decline in provisions for stressed loans.

Ashok Chandra tipped to be next PNB MD & CEO

The Financial Services Institutions Bureau (FSIB) on Monday recommended Ashok Chandra for the position of managing director (MD) & chief executive officer (CEO) of Punjab National Bank (PNB).

PNB's profit jumps 145% in Q2

State-owned Punjab National Bank (PNB) on Monday reported a 145 per cent year-on-year increase in its net profit at ₹4,303 crore for the second quarter (Q2) of 2024-25 (FY25). The net profit was ₹1,756 crore in the year-ago period.

‘We may lend to a telco if it gets AAA rating’

Punjab National Bank (PNB) has said it would consider lending to a telecom company only if it gets AAA rating. PNB Managing Director and Chief Executive Officer ATUL KUMAR GOEL said this in an online interview to Harsh Kumar while responding to a question on Vodafone Idea’s request for a fundraise. As of now, PNB has refused lending to the telco, Goel said. Edited excerpts:

Over 35% FPCs process multiple documents for registration: Survey

A study on farmer producer companies (FPCs) has found that around 36 per cent of such business entities had to process too many documents for registration, while 22 per cent indicated that they had to visit multiple offices.

Das: Positives outweigh negatives in economy

Says recent action against NBFCs in the best interest of customers

RBI sets ₹300 cr net worth rule for CCPs

The Reserve Bank of India (RBI) announced on Monday that any entity seeking authorisation or recognition as a Central Counterparty (CCP) must have a minimum net worth of ₹300 crore at the time of submitting its application.

India gets its 1st private military aircraft facility

PM says Tata-Airbus unit in Vadodara to give new direction to India-Spain ties

SBI Life least affected by new surrender norms

Following SBI Life Insurance's Q2 earnings, managing director (MD) and chief executive officer (CEO) AMIT JHINGRAN spoke with Subrata Panda and Aathira Varier in Mumbai on the insurers' road ahead. Jhingran also talked about how the company is positioned to leverage various opportunities emerging in the sector. Edited excerpts:

Ambuja Cements' Q2 net down 42%

Mirroring the price and demand weakness in the sector, Ambuja Cements reported a 42.5 per cent year-on-year (Y-o-Y) slump in its consolidated net profit (attributable to the owners of the company) for the second quarter of 2024-25 (Q2FY25), largely owing to muted growth in revenue.

People moving from affordable segment wherever there is a possibility

The Indian real estate sector witnessed a decline in affordable housing launches and overall sales in the September quarter of 2024. NIRANJAN HIRANANDANI, managing director, Hiranandani Group, in an interview in Mumbai with Prachi Pisal, spoke about the sector's prospects and the group's plans to launch a real estate investment trust (Reit) to raise funds. Edited excerpts:

Flipkart Internet's FY24 revenue grows 21%

Flipkart Internet, the marketplace arm of Walmart-owned Flipkart, reported a 21 per cent year-on-year (Y-o-Y) growth in its revenue to ₹17,907.3 crore in FY24.

Shashwat Sharma to take over as MD, CEO of Airtel

Board rejigged; Vittal named vice-chair

Sun Pharma's Q2 net rises on higher mkt share, volumes

Rise in PAT also aided by good performance in domestic, emerging markets

Higher tariffs lift Airtel's Q2 profit 168%, Arpu tops ₹230

Bharti Airtel's net profit in the July-September quarter (Q2) of FY25 rose 168 per cent year-on-year (Y-o-Y) to ₹3,593 crore as against ₹1,340 crore in the same period a year ago as a result of higher telecom tariffs imposed in early July.

Urban demand stress under watch: FinMin

Says festival season may boost consumption

Record ₹4.6 trn DII inflows fuel mkt's stellar leap in Samvat 2080

Domestic institutional investors (DIIs) have infused a record ₹4.6 trillion into Indian equities over the course of Samvat 2080, marking the highest net annual investment in any Samvat to date.

Begin early, use equity MFs, NPS and PPF to build corpus

Extending work life may not be easy: Health issues, changing workplace needs may upend plans

Sunny skies for REITs, with a high chance of growth

Home stretch for real estate investment trusts as strength of the office leasing market and Q2 results show endurance

The steady drumbeat of value creation

HSBC Value Fund, launched in January 2010, has consistently ranked in the top 30 percentile of the focused funds category in the CRISIL Mutual Fund Ranking (CMFR) for three consecutive quarters up to June 2024.

Moderate rally in Samvat 2081; DIIs key drivers'

The markets are set to enter Samvat 2081 after a year where midcap and smallcap indices outperformed their larger peers. JIGNESH DESAI, chief executive officer of institutional equities at Centrum Broking, in conversation with Puneet Wadhwa in Mumbai, discusses how specific stocks in the largecap universe will continue to attract interest. He also shares his outlook on the midcap and smallcap rally, which he expects to persist over the next two to three years, albeit with intermittent corrections that could present buying opportunities. Edited excerpts:

Stop, think, then take action: PM's mantra to counter 'digital arrests'

Prime Minister Narendra Modi on Sunday flagged the issue of fraudsters targeting people with the cyber crime of \"digital arrests\" and urged people to adopt the mantra of stop, think and take action when faced with such a scam, asserting that these steps will provide digital security to them.

In a first, standard treatment norms for vets unveiled

They discourage excessive use of antibiotics in poultry and livestock