Benchmark BSE Sensex rose by 319 points on Monday on gains in IT and financial stocks after positive quarterly results amid supportive global cues. The 30-share BSE barometer rose by 319.90 or 0.53 per cent to close at 60,941.67. The index opened higher and gained more than 400 points to scale the 61,000 level. It touched [...]
The PM GatiShakti initiative will play a significant role in reducing the logistics cost, increasing efficiency and benefitting businesses, a top government official said on Monday. On October 13 last year, Prime Minister Narendra Modi launched the Gati Shakti- National Master Plan aimed at developing an integrated infrastructure to reduce logistic costs. All logistics and [...]
State-owned IDBI Bank on Monday reported a 60 per cent growth in net profit to Rs 927 crore in the third quarter ended on December 31, 2022, on lower provisioning and better interest income. IDBI Bank, for which the government and the LIC have invited bids to sell a majority stake, had a net profit [...]
iPhone-maker Apple is looking to scale up its manufacturing in India as the business environment is helping global firms make the country their base, Commerce and Industry Minister Piyush Goyal said on Monday. He said that India offers a rule of law, and transparent government policies and business models which help it become a preferred [...]
Sterlite Power on Monday said it has bagged orders worth Rs 3,800 crore in the first three quarters of this fiscal, which is 90 per cent higher than a year ago. The orders were bagged by the ‘solutions’ business unit in the domestic and international markets during the first three quarters FY23, showing a growth [...]
Canara Bank on Monday reported 92 per cent jump in profit at Rs 2,882 crore for the quarter ended December 2022, helped by a rise in interest income and decline in bad loans. Its net profit stood at Rs 1,502 crore in the same quarter of the preceding financial year. Total income increased to Rs [...]
Thousands of Indian IT professionals in the US, who have lost their jobs due to the series of recent layoffs at companies like Google, Microsoft and Amazon, are now struggling to find new employment within the stipulated period under their work visas following the termination of their employment to stay in the country. According to [...]
Sales of residential properties in Gurugram jumped over two-fold to 32,617 units last year on higher demand across all price categories — affordable, mid-income and luxury, according to Anarock. Housing sales stood at 15,590 units in Gurugram during 2021 calendar year. Overall, the housing sales in Delhi-NCR rose 59 per cent to 63,712 units in [...]
Markets regulator Sebi has launched an information database on municipal bonds. As part of efforts to develop the bond markets, an outreach programme on municipal bonds and municipal finance was organised by Sebi in the national capital on January 20 and 21, according to a release on Sunday. Representatives from various stakeholders, including the Ministry [...]
Textile entrepreneurs have discussed key issues to bring in stability in the sector eyeing a reduction in cotton prices and freight charges, an industry official has said. Participating in an interactive session here, around 120 managing directors of spinning mills discussed various issues including cotton prices and freight rates, according to Indian Texpreneurs Federation, the [...]
