Days after the US Fed raised the interest rate, the RBI may go in for its third consecutive policy rate hike by at least 35 basis points to check high retail inflation, experts said. The central bank has already announced to gradually withdraw its accommodative monetary policy stance. The Reserve Bank of India's rate-setting panel [...]
Shares of Yes Bank climbed nearly 6 per cent in Monday morning trade after the announcement that private equity funds Carlyle and Advent International will invest USD 1.115 billion in the lender. The stock jumped 5.75 per cent to Rs 15.80 on the BSE. On the NSE, it advanced 5.68 per cent to Rs 15.80 [...]
Electric two-wheelers are going mainstream and the fire incidents will only help manufacturers to focus on quality, thus helping the industry mature, according to Ather Energy cofounder and CEO Tarun Mehta. The Hero MotoCorp-backed firm expects that by the end of this decade up to 30 million electric two-wheelers would be sold in India and [...]
Indian Oil Corporation sold petrol at a loss of Rs 10 per litre and diesel at Rs 14 a litre during April-June, leading to the firm reporting its first quarterly net loss in over two years, a report said. The nation's largest oil refining and fuel retailing firm reported a net loss of Rs 1,992.53 [...]
Indian pharma exports registered a growth of eight per cent during the first quarter of the current financial year to USD 6.26 billion, as officials hope for a 10 per cent growth by the end of the fiscal. Udaya Bhaskar, Director General of Pharmaceuticals Export Promotion Council of India (Pharmexcil), a body under the Department [...]
More than 5 crore income tax returns have been filed till late Saturday evening, the department said, a day before the ITR filing time for the financial year 2021-22 ends. The department issued a public message through its official Twitter handle asking taxpayers, largely individuals and salaried class, to file their returns within the due [...]
Mortgage lender HDFC Ltd on Saturday increased its benchmark lending rate by 25 basis points, a move that will make loans dearer for both existing and new borrowers. The rate hike comes ahead of the RBI's Monetary Policy Committee (MPC) meeting later next week. It is widely expected that MPC would hike interest rates to [...]
Cigarette maker Godfrey Phillips India Ltd on Saturday reported a 16.6 per cent rise in its consolidated net profit to Rs 131.05 crore for the first quarter ended June 30. The company had posted a net profit of Rs 112.40 crore during the April-June quarter of the preceding fiscal, Godfrey Phillips India said in a [...]
Utkarsh Small Finance Bank has refiled preliminary papers with capital market regulator Sebi and reduced its initial public offering (IPO) size to Rs 500 crore from Rs 1,350 crore planned earlier. The company filed the paper afresh as the regulator's one-year approval given to the Varanasi-headquartered small finance bank (SFB) to launch IPO expired last [...]
Zee Media Corporation Ltd (ZMCL) on Friday reported a consolidated net profit of Rs 4.55 crore for the first quarter ended June. The company had posted a net profit of Rs 218.08 crore during the April-June quarter of the previous fiscal, helped by gains from exceptional items, Zee Media Corporation Ltd (ZMCL) said in a [...]
