Monday, May 06, 2024
Business

Adani Green reports 30 pc EBITDA growth in FY24, revises target to 50 GW for 2030

Ahmedabad:Adani Green Energy Ltd (AGEL) on Friday reported 30 per cent EBITDA growth at Rs 7,222 crore in FY24, as the renewable energy (RE) major revised its target for 2030 to 50 gigawatt (GW) from 45 GW.

GST demand notices contributing to burgeoning GST collections

NEW DELHI: An increasing number of GST demand notices being issued to companies is contributing to the burgeoning GST collections.

Govt cuts windfall tax on crude oil, ONGC, OIL India Ltd to gain

NEW DELHI: The Government has cut the windfall tax on crude oil to Rs 8,400 a metric ton from Rs 9,600 with effect from Wednesday as part of its fortnightly revision.

Trent shares gain more than 3 per cent on strong Q4 numbers

NEW DELHI:Shares of Trent Limited gained more than 3 per cent on Tuesday after reporting strong Q4 numbers.

Will double India headcount annually for 3 years to expand footprint: Transcom India

NEW DELHI: Generative AI-driven customer experience services (CX) company, Transcom India, on Tuesday said it aims to double its current headcount of 700 annually for the next three years, taking its employee strength to 7,000-10,000 and further strengthen its footprint in the country.

Microsoft to invest $1.7 bn in cloud, AI infrastructure in Indonesia

NEW DELHI: Microsoft on Tuesday announced that it will invest $1.7 billion over the next four years in new cloud and artificial intelligence (AI) infrastructure in Indonesia.

Sensex gains 500 points led by banks

NEW DELHI: BSE Sensex gained 500 points on Monday led by banking stocks.

India's fiscal profile better placed to fight global economic shocks, says analyst

NEW DELHI: India's fiscal profile has become structurally healthy amid better tax compliance, improved base and focus on quality spending, as per Emkay Global Financial Services.

WhatsApp's new filter option will let users get list of their favourites from chats tab

NEW DELHI: Meta-owned WhatsApp is reportedly testing a new feature that will offer users a dedicated "filter" to quickly get a list of their favourites from the chats tab on Android.

Yes Bank net profit doubles to Rs 452 crore in Jan-March quarter

MUMBAI: Yes Bank on Saturday reported a more than two-fold jump in net profit to Rs 452 crore for the January-March quarter of the financial year 2023-24, compared to Rs 202.43 crore in the same quarter of 2022-23.

Tech Mahindra shares jump more than 8 per cent on turnaround strategy

NEW DELHI: Heavyweight IT stock Tech Mahindra jumped more than 8 per cent on Friday on its new growth strategy.

Kia's net profit up 32.5 pc in Q1; India sales drop due to aging models, geopolitical factors

Seoul: Automaker Kia said on Friday that its first-quarter net profit rose 32.5 per cent (year-on-year), backed by increased sales of SUVs, minivans and hybrid models.

NDA rule has shown superior numbers on GDP growth, inflation, unemployment compared to UPA

NEW DELHI: The NDA rule of the last 10 years has shown superior numbers on GDP growth, inflation, CAD (Current Account Deficits), unemployment and FDI ex of pandemic year compared to the UPA regime, broking firm Prabhudas Lilladher said.

REC okays Rs 1,869 crore loan for Kiru hydro project in J&K

Gurugram: REC Limited, a Maharatna public sector company and a leading NBFC, has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL) for providing a term loan of Rs 1,869.26 crore.

RBI issues red alert on illegal entities in forex market

MUMBAI:he Reserve Bank of India (RBI) on Wednesday issued an alert against unauthorised entities offering foreign exchange (forex) trading facilities to Indian residents with promises of exorbitant returns.

Air India suspends flights to Tel Aviv till April 30 over Iran-Israel conflict

NEW DELHI: Air India on Friday extended the suspension of its flight services to Israel's capital Tel Aviv till April 30, in the wake of prevailing conflict and tension between Israel and Iran.

Infosys' full-year employee strength drops for 1st time in 23 years

Bengaluru: The full-year headcount at IT major Infosys declined for the first time in nearly 23 years, by 25,994 in the financial year 2023-24.

Tech firm Sabre appoints Rajiv Bhatia as Executive Director

NEW DELHI: Software and technology company Sabre Corporation on Wednesday announced the appointment of industry leader Rajiv Bhatia as Executive Director to help advance its growth strategy in Asia Pacific (APAC).

Will Musk announce affordable Starlink internet service during India visit?

NEW DELHI: Starlink, an affordable satellite-based internet service offered by Elon Musk-run aerospace company SpaceX, has transformed the way people access the web in remote and inaccessible parts of the world. Will Musk announce its arrival in India when he visits the country later this month?

X employees facing arrest in Brazil: Elon Musk

NEW DELHI:Tesla and SpaceX CEO Elon Musk on Tuesday alleged that employees of his X social media platform in Brazil are facing arrest amid his ongoing stand-off with the judiciary over blocking some X accounts.

India leads Web3 adoption globally with over 1,000 startups: Report

NEW DELHI: India now has one of the largest Web3 ecosystems in the world, with more than 1,000 startups and over 35 million traders, a new report showed on Tuesday.

Indian companies should make electric 2-wheelers for global market: Amitabh Kant

Bengaluru:The future is electric in India which has seen a meteoric rise in EV adoption and homegrown companies should now aim to make electric two-wheelers for the global market, the G20 sherpa and former NITI Aayog CEO, Amitabh Kant, said on Saturday.

Centre Court Capital launches Rs 350 cr gaming, sports tech fund

NEW DELHI: Venture capital (VC) firm Centre Court Capital (CCC) on Thursday launched a Rs 350 crore fund to revolutionise the country's sports and gaming landscape.

India’s services sector growth surges leading to more jobs in March: PMI survey

NEW DELHI: India's services sector growth accelerated in March on the back of strong demand, leading to employment increasing at the fastest rate in seven months and export business expanding at a record pace during the month, according to an HSBC survey released on Thursday.

World Bank raises India’s GDP growth forecast to 7.5 pc for 2023-24

NEW DELHI:The Indian economy is projected to grow at 7.5 per cent in 2024, the World Bank has said, revising its earlier projections for the same period by 1.2 per cent.

India’s trade policy is calibrated with economic growth path: Piyush Goyal

NEW DELHI: India's trade policy is calibrated with its economic growth trajectory as it aims to achieve a target of $2 trillion in exports by 2030, Commerce and Industry Minister Piyush Goyal said on Thursday.

Reliance Industries invests in Mahan Energen, a wholly-owned subsidiary of Adani Power

NEW DELHI: An investment agreement has been entered into among Mahan Energen Limited (MEL), a wholly owned subsidiary of Adani Power Limited (APL), Reliance Industries Limited (RIL) and APL, in terms of which RIL has agreed to subscribe and MEL has agreed to allot 5 crore equity shares with face value of Rs 10 each to RIL at par.

Credit cards woes form largest chunk of complaints for private banks, mobile banking for public sector banks

NEW DELHI: The largest share of public sector banks' complaints is for mobile banking while for private banks, it is for credit cards, brokerage firm Elara Securities said.

Adani’s copper unit in Mundra begins operations, to generate 7,000 jobs

Ahmedabad: Making a debut for the Adani Portfolio in the metal industry, Kutch Copper, a subsidiary of Adani Enterprises Limited (AEL), on Thursday commissioned the first unit of its greenfield copper refinery project at Mundra, Gujarat, by dispatching the maiden batch of cathodes to customers.

Sensex surges more than 700 points led by gains in financial stocks

NEW DELHI: The BSE Sensex on Thursday was trading at 73,755 points, up by 758 points or 1.04 per cent, led by gains in the financial stocks.

realme 12x 5G: Pioneering 5G experience under Rs 12K: A disruptor in the entry-level segment

NEW DELHI: The impact of 5G extends far beyond consumer use, driving transformative changes globally. This revolutionary technology is reshaping our lifestyle, work dynamics, and communication methods, setting the stage for a promising future.

Top S. Korean game developer joins Google Cloud on AI, cloud computing

Seoul: NCSOFT Corporation, a major South Korean online and mobile game developer, said on Wednesday that it has joined hands with Google Cloud in improving artificial intelligence (AI) and cloud computing capabilities.

S&P Global ups India’s growth forecast for 2024-25

MUMBAI: S&P Global Ratings on Tuesday raised India's growth forecast for 2024-25 by 0.4 per cent to 6.8 per cent on the back of strong domestic demand.

Over $447 million in funding raised by 22 Indian startups last week

NEW DELHI: The Indian startups continued to raise funds at a normal pace, and last week, 22 startups secured over $447 million in the country.

IRDAI approves setting up insurance e-marketplace Bima Sugam, goes for big regulatory revamp

NEW DELHI: The Insurance Regulatory and Development Authority of India (IRDAI) has given its approval for the setting up of insurance e-marketplace Bima Sugam for buying, selling, and servicing insurance policies as well as settling claims.

Amazon India’s revised seller fee next month may up prices for certain products

NEW DELHI: The consumers may end up paying more for shopping online on Amazon India for certain products as the company is set to revise its seller fee structure from April 7.

Young Indian founders beat rich global startups in creating AI use cases: Kunal Bahl

NEW DELHI: Artificial intelligence (AI) has opened new doors for Indian startups and young entrepreneurs who have raised just $1-2 million are way ahead of deep-pocketed startups from the US and Europe when it comes to creating world-class products, Kunal Bahl, Co-founder of Snapdeal and early-stage VC firm Titan Capital, said on Thursday.

Net direct tax collections for FY 2023-24 grow at over 19.88 p.c.

NEW DELHI: The provisional figures of direct tax collections for the Financial Year 2023-24 as on March 17, 2024, show that net collections were at Rs 18,90,259 crore as compared to Rs 15,76,776 crore in the corresponding period of the preceding financial year (FY 2022-23, representing an increase of 19.88 per cent, the Income Tax Department said.

Good governance crucial than highest market cap for startups: Industry leaders

NEW DELHI: As certain Indian digital companies like Byju’s, with a mammoth $22 billion valuation once, get embroiled in corporate governance issues, top industry leaders have said that running a clean company with honest practices and good governance is more important than having the highest market cap.

10 automakers fined $7.6 mn for selling cars with poor safety standards

Seoul:The South Korean government said on Wednesday that it has imposed fines totalling 10.3 billion won ($7.6 million) on 10 foreign and domestic automakers for selling cars with inadequate safety standards.

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