Equity benchmarks climbed in early trade on Wednesday amid an overall positive trend in the global markets and ahead of the presentation of Union Budget 2023-24. The 30-share BSE benchmark Sensex jumped 516.97 points to 60,066.87. The broader NSE Nifty climbed 153.15 points to 17,815.30. From the Sensex pack, ICICI Bank, Tech Mahindra, Asian Paints, [...]
Tata group hospitality firm Indian Hotels Company Ltd on Tuesday reported an over four-fold rise in consolidated net profit at Rs 403.56 crore in the third quarter ended December 2022 on the back of robust demand. The company had posted a consolidated net profit of Rs 95.96 crore in the year-ago period, Indian Hotels Company [...]
Digital payments across the country registered a growth of 24.13 per cent in a year through September 2022, as per RBI's index that measures the adoption of online transactions. The newly-constituted RBI's Digital Payments Index (RBI-DPI) stood at 377.46 in September 2022 against 349.30 in March 2022 and 304.06 in September 2021. "The RBI-DPI Index [...]
Increasing exports to markets such as Brazil, South Africa and Saudi Arabia are boosting the growth of the country's outbound shipments, FIEO said on Tuesday. Federation of Indian Export Organisations (FIEO) President A Sakthivel said the Economic Survey has rightly highlighted India's growing and diversifying merchandise trade. "The new diversified markets, including those of Brazil, [...]
Asset management companies are set to move to a shorter redemption payment cycle of T+2 for equity schemes from Wednesday. At present, funds are transferred to investors' bank account within 3 days after the completion of the redemption process. Moving to the T+2 cycle for equity schemes will benefit mutual fund investors. Akhil Chaturvedi, Chief [...]
The shares of Deep Diamond India Ltd were locked in an upper circuit on Tuesday as it gained 4.93% from the previous close of ₹ 20.30 to settle at ₹ 21.30 apiece. Deep Diamond India is engaged in the business of gold and diamond studded jewellery and operates in the consumer discretionary industry. Its shares [...]
Goods and Services Tax collection is showing a higher buoyancy than the pre-GST system, auguring well for future resource mobilisation in the economy, the Economic Survey 2022-23 presented in Parliament said on Tuesday. Giving a 5-year analysis of tax collection pre and post-GST, the survey said the taxes which were subsumed in the Goods and [...]
The recent collapse of the crypto exchange FTX and the ensuing sell-off in the crypto markets have placed a spotlight on the vulnerabilities in the crypto ecosystem, the Economic Survey 2022-23 presented in Parliament said on Tuesday. Crypto assets are self-referential instruments and do not strictly pass the test of being a financial asset because [...]
Travel service provider MakeMyTrip Ltd on Tuesday reported a profit of USD 0.2 million in the third quarter ended December 2022. The NASDAQ-listed firm had posted a loss of USD 9 million in the year-ago period, it said in a statement. In the third quarter gross bookings grew by 64.4 per cent in constant currency [...]
Air conditioning and commercial refrigeration firm Blue Star Ltd on Tuesday reported a 22.79 per cent rise in consolidated net profit at Rs 58.41 crore in the third quarter ended December 2022. The company had posted a consolidated net profit of Rs 47.57 crore in the same quarter last fiscal, it said in a regulatory [...]
