Business / The Economic Times
The Reserve Bank of India on Monday proposed a revised regulatory framework for Electronic Trading Platforms (ETPs) in the wake of increased integration of the onshore forex market with offshore markets.
A report by CMS Infosystems shows a 5.51% increase in monthly average cash withdrawals from ATMs in FY24, reaching Rs 1.43 crore. This growth highlights the continued reliance on cash transactions despite the rise of digital payments. Metro areas saw a significant 10.37% increase in cash withdrawals, while Karnataka led in withdrawals per ATM. The report also notes a rise in spending on media, entertainment, and FMCGs, indicating a positive trend in consumption.
Total income earned in the reported quarter stood at Rs 6,984.61 crore, up 17% from Rs 5,946.94 crore reported in the year-ago period. The PSU bank's board also recommended a dividend of Rs 0.28 per equity share.
This measure helps evaluate a stock's current worth and predict possible price changes in the future.
Reliance joins a growing group of Asian refiners in buying Canadian crude to be exported from the new pipeline which is scheduled to start transporting oil in May. The Canadian government-owned pipeline expansion will nearly triple the flow of crude from Alberta to Canada's Pacific Coast and open up access to Asia and the U.S. West Coast.
On the day, the board of directors will consider and approve the annual audited financial results on the standalone and consolidated basis for the year ended as on March 31, 2024. It is also expected to recommend the final dividend for the financial year 2023-24.
To facilitate ease of doing business, Sebi on Monday said certain changes in the private placement memorandum of alternative investment funds can be submitted directly to the regulator rather than through a merchant banker.
India's Tata Chemicals reported its first quarterly loss in nine years on Monday, hurt by a one-time charge incurred in its UK operations along with lower prices and demand of soda ash.
Retail chain Shoppers Stop Ltd on Monday reported a 62.55 per cent rise in consolidated net profit at Rs 23.18 crore in the fourth quarter ended March 31, 2024. The company had posted a consolidated net profit of Rs 14.26 crore in the same period a year-ago, Shoppers Stop said in a regulatory filing.
IT company Birlasoft on Monday reported a 60.55 per cent increase in consolidated net profit to Rs 180.08 crore during the March quarter. The company had recorded a net profit of Rs 112.16 crore in the year-ago period.
Some lenders are resorting to certain unfair practices in charging interest rates such as charged interest on loans from the date of sanctioning or execution of the loan agreement rather than from the date of disbursement.
Poonawalla Fincorp on Monday reported a 67 per cent jump in consolidated net profit to Rs 332 crore in the March quarter. The company had posted a net profit of Rs 199 crore during the corresponding quarter of the previous financial year.
Auto industry-focused KPIT Technologies on Monday reported a 49 pc jump in March quarter net profit to Rs 165.9 crore, helped by a strong revenue growth and widening of profit margins.
The Indian Ministry of External Affairs has strongly protested against the raising of 'Khalistan' separatist slogans at an event attended by Canadian leaders, expressing concerns about the impact on bilateral relations and the encouragement of violence and criminality in Canada.
Engineering solutions provider Diffusion Engineers has re-filed its preliminary IPO papers with markets regulator Sebi by incorporating a new financial statement.
Domino's Pizza topped expectations for first-quarter sales and profit on Monday, as consumers in the United States tapped into offers through the pizza chain's loyalty program.
The NCAER's April 2024 Monthly Economic Review (MER) highlights the Indian economy's robust performance, citing a 16-year high in the PMI for manufacturing and record UPI transactions. With positive global forecasts and decreasing inflation, the economy looks poised for growth, though online hiring activity shows a slight moderation.
The short-term uptrend of Nifty seems to have resumed after one day of weakness. The next upside levels to be watched are around 22,800-22,900. Immediate support is at 22,500, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
The market capitalisation of BSE-listed companies soared to an all-time high of Rs 406.52 lakh crore on Monday thanks to a rally in equities where the BSE Sensex climbed over 1 per cent.
JNK India's shares are trading with a GMP of Rs 110 in the unlisted market, indicating a listing gain of around 22-25%. The issue was priced at Rs 415 at the upper end.
The RBI has launched two new surveys, the 'Inflation Expectations Survey of Households' and the 'Consumer Confidence Survey,' ahead of its June monetary policy review. These surveys will gather insights crucial for monetary policy decisions. The 'Inflation Expectations Survey' will collect data on price changes and inflation expectations from households in 19 cities. Meanwhile, the 'Consumer Confidence Survey' will gather views on the general economic situation, employment, prices, income, and s
The Dow Jones Industrial Average rose 42.5 points, or 0.11%, at the open to 38,282.16.
Just three months after joining the ride-hailing firm, Ola Cabs CEO Hemant Bakshi has called it quits. Details on this and more in todays ETtech Top 5.
5 stocks from the pack have given negative returns this year so far.
Investcorp is active in the mid-market private equity space in India and has invested across the consumer tech, healthcare, financial services, retail, SaaS, e-commerce, and technology sectors.
India's PNB Housing Finance reported a 57% rise in fourth-quarter profit on Monday, helped by steady demand for home loans and a decline in bad loans.
The Sensex rose over 900 points while the Nifty50 closed with gains of over 200 points. Sectoraly, buying was seen in utilities, public sector and banks while realty stocks saw some selling pressure.
The net profit however comes to Rs 344 crore, reflecting a four-fold jump, if the deferred tax assets of Rs 170 crore is included.
The resolutions passed will help Embassy REIT to fund the acquisition and will also help the REIT to optimize its balance sheet for future growth
Nifty's short-term uptrend seems to have resumed after one day of weakness. The next upside levels to be watched are around 22,800-22,900. Immediate support is at 22,500, said Nagaraj Shetti of HDFC Securities.
Short covering signals a shift in view on a security from extreme bearishness to bullishness.
Mahindra & Mahindra has launched the highly anticipated Mahindra XUV 3XO, a compact SUV and facelifted version of the popular XUV 300, in India. The new model boasts updates in design, features, and safety enhancements, with a starting price of Rs 7.49 lakh.
The high court said that a chief minister's post in any state, leave alone a buzzing capital city like Delhi, is not a ceremonial post and it is a post where the office holder has to be virtually available 24*7 to deal with any crisis or natural disaster like flooding, fire and disease.
For the last image I.e the first slide
The 30-share BSE Sensex closed up 941.12 points at 74671.28
Vijay Kedia publicly holds 17 stocks with a net worth of over Rs 1,664 crore, as per the latest corporate shareholding data.
During the day, the banking benchmark scaled a fresh record high of 49,473. ICICI Bank, Axis Bank, and SBI also hit fresh 52-week highs in intraday trade. AU Small Finance Bank closed with gains of over 6%, while ICICI Bank gained more than 4% and SBI ended over 3% higher.
The Nifty Bank index closed 2.54 per cent up at 49424.05.
The Nifty Auto index closed 0.15 per cent down at 22078.75.
In a bid to revolutionise project planning in the construction industry, Mytek Innovations has introduced a groundbreaking digital platform utilizing open AI tools. This innovative system streamlines project completion, reduces costs, and facilitates funding applications for contractors and subcontractors, aiming to enhance efficiency and productivity in India's construction sector.
The Nifty Pharma index closed 0.54 per cent up at 19096.9.
Fashion and lifestyle player Trent on Monday reported a multifold jump in consolidated net profit at Rs 712 crore for the quarter ended March 31, 2024. The profit stood at Rs 45 crore in the corresponding quarter last fiscal.
The Indian rupee ended lower on Monday, its worst intraday fall in more than two weeks, pressured by month-end dollar demand from importers, while weakness in major Asian currencies also hurt the local unit.
During the quarter under review, total income rose to Rs 1,863.63 crore from Rs 1,385.41 crore in the same period a year ago.