Yes Bank on Saturday reported over two-fold jump in standalone net profit at Rs 452 crore for March quarter 2023-24, primarily due to benefits on the provision front. In the year-ago quarter, the bank logged a profit of Rs 202.43 crore. The private sector lender benefitted from write-back on income tax and interest on income tax returns, but the profits were limited by its inability to comply with the mandatory priority sector lending (PSL) requirements, its management said.
Godrej Consumer Products (GCPL) reported 6 per cent year-on-year (Y-o-Y) consolidated net revenue growth in Q4FY24 to Rs 3,385 crore and this was impacted adversely by currency movement. The constant currency (CC) growth would have been 30 per cent Y-o-Y in Q4FY24. India business clocked 12 per cent Y-o-Y revenue growth (5 per cent of it organic) with volume growth of 15 per cent Y-o-Y (7 per cent organic).
Even as Srini Pallia, a Wipro veteran, is set to take charge as the chief executive officer (CEO) of the company, analysts expect the stock's underperformance to continue in the near-future. This, they believe, will be on the back of likely loss of market share, and difficult business environment. "We expect Wipro to underperform peers on growth once again in FY25 as channel checks and media reports suggest Wipro is losing share with select clients across multiple verticals.
Tata Group-owned Air India has placed an order for 840 planes with Airbus and Boeing, including the option to acquire 370 aircraft, with a senior airline official on Thursday saying the order is a "landmark moment" in the Indian aviation history. The announcement by Air India's Chief Commercial and Transformation Officer Nipun Aggarwal comes a day after the airline said it has placed a firm order for 470 aircraft -- 250 from Airbus and 220 from Boeing. In a LinkedIn post, Aggarwal said the airline is humbled by the excitement generated across the world by the airline's aircraft order.
The top court said that a sum of Rs 50 crore lying with the RBI for the victims shall be utilised by the Union of India to satisfy pending claims of victims.
Sarvanan was ranked fifth in the seventh race to go down to second spot with five more races lined up in the Olympic Qualifying Event.
Trinamool Congress is the second highest recipient of political donations through electoral bonds.
Merely being prosecuted on money laundering charges is not a sufficient ground to deny permission for passport renewal, a special court in Mumbai has said while granting nod to former Maharashtra minister Anil Deshmukh's son to apply for renewal of his passport.
Indian shoppers accounted for 13 per cent of the total hours spent by mobile users across the globe on their shopping apps in 2023, next only to China in this regard. According to the "State of Mobile -2024" report released a few days ago by data.ai (previously known as App Annie), which looks into various segments of the app economy across the world, in the last calendar year, users in India collectively spent 12.84 billion hours on shopping apps. This represents an increase of over 73 per cent from the time they spent in 2020 and of more than 3.5 per cent over 2022.
... changing seats and in-flight entertainment on its older aircraft.
In mixed multihull - nacra 17, the Indian pair of Indar Siddeshwar Doiphode and Ramya Saravanan were placed fourth after race 12 with less than a minute's gap from the leaders in a tightly contested field. Doiphode and Ramya were third after race 11.
The Rs 17,000 crore-share buyback programme of India's top software services exporter Tata Consultancy Services (TCS) will open on December 1. The buyback, where investors can sell to the company their shares at an offer price of Rs 4,150 apiece, will close on December 7, TCS said in a regulatory filing on Tuesday. The information technology bellwether is aiming to repurchase up to 4.09 crore shares (1.12 per cent of the total equity share capital) at Rs 4,150 apiece in a buyback valued at Rs 17,000 crore.
The growth in India's domestic aviation capacity in calendar year 2023 (CY23) was the sixth highest among 20 major domestic markets, compared to the pre-pandemic year of CY19. The domestic capacity in the country surpassed the pre-pandemic level seen in CY19 and was up 5 per cent in CY23. It trails Mexico, Columbia, China, Vietnam, and Spain, which have shown higher growth, according to data shared in a seminar organised by global travel data provider OAG on global aviation trends in 2023.
Tata Realty and Infrastructure, a subsidiary of Tata Sons, is looking to expand its business with over 50 projects across major cities in India, Sri Lanka, and the Maldives. The combined projects boast a development potential exceeding 51 million sq ft, according to a top executive. The Mumbai-based real estate major has completed the first phase of project developments in Male (the Maldives), and is gearing up for the second phase. It has also expanded its footprint in Sri Lanka and plans to add about 2 million sq ft. in Colombo.
Yashasvi Jaiswal, Sarfaraz Khan and Dhruv Jurel stole the show in India's record-breaking victory in the Rajkot Test.
Even as the dust settles on one election, glory in Thiruvananthapuram has come with a new question on the horizon: Who will be UDF's candidate in the next Lok Sabha election given Shashi Tharoor has said 2024 would be his last? It isn't a vacancy that can be easily filled, points out Shyam G Menon.
Air India significantly altered the composition of the aircraft order it placed earlier this year with Airbus, the European plane manufacturer has said. In February, Air India had placed the world's second-largest single-tranche aircraft order for 470 planes: 250 with Airbus and 220 with Boeing. In July, Airbus disclosed an order comprising 70 A321neo, 140 A320neo, 34 A350-1000, and six A350-900 aircraft for Air India.
In a LinkedIn post on Wednesday, February 15, night, Nipun Aggarwal had said Air India, in addition to the order of 470 planes, had the option to purchase 370 aircraft from Airbus and Boeing.
Wholesale inflation rate eased to 34-month low of (-) 0.92 per cent in April on easing prices of food, fuel and manufactured items. The wholesale price index (WPI) based inflation has been on a declining trend for 11 months in a row and entered the negative zone in April. In June 2020 WPI was at (-) 1.81 per cent.
Air India's flying crew, ground and security staff will soon sport new uniforms designed by fashion designer Manish Malhotra as the Tata Group-owned airline embraces a new global brand identity. As Air India pursues a revival and modernisation plan, the new uniforms are expected to be introduced for the frontline staff by the end of this year and are likely to coincide with the induction of the airline's first wide-body A350 aircraft into its fleet. Malhotra -- whose career spans more than 30 years as a couturier, costume stylist, and entrepreneur -- and his team have started meeting Air India's frontline staff, conducting discussions and fitting sessions with them to better understand their specialised needs, the airline said in a release on Thursday.
India's schedule at the Asian Games in Hangzhou, on Tuesday, September 26.
Air India on Thursday unveiled a new brand identity and aircraft livery as the airline moves ahead with its transformation plan since being taken over by Tata Group more than one-and-a-half years ago. The new look re-imagines the iconic Indian window shape, historically used by Air India, into a gold window frame that becomes central to the new brand design system. It symbolises a 'Window of Possibilities', according to a release.
The Directorate General of Civil Aviation (DGCA) on Tuesday suspended Air India's Boeing simulator facility in Mumbai after finding certain alleged lapses during a spot check, a DGCA official said. The pilots, who were scheduled to undergo refresher courses at the Mumbai facility, will now not be able to do so.
Public broadcaster Prasar Bharti has decided to drop references to its radio service as 'All India Radio' and substitute it with 'Akashvani', as mentioned in the law.
The Qatar World Cup has had the lowest number of long-range shots and smallest percentage of goals scored from outside the penalty area in the last five tournaments.
Full service carrier Air India on Thursday announced a new multi-year global distribution services partnership with US-based Sabre Corporation. The collaboration enables travel agents and corporations around the world to access Air India fares and seats through Sabre's extensive global travel marketplace, Air India said in a statement. In addition to the distribution services, Air India said it is utilising Sabre's consultancy expertise to help determine optimal routes for its existing and new fleet.
More than 3,000 gifts for Lord Ram from Sita's birthplace in Janakpur in Nepal have arrived in Ayodhya.
India's exports dipped marginally by 0.76 per cent to $35.24 billion in July, though the trade deficit tripled to $31.02 billion during the month, according to official data revealed on Tuesday. The imports in July went up to $66.26 billion from $46.15 billion in the corresponding month last fiscal. "Exports of $156.41 billion in first four months of the fiscal puts us on track to achieve $470 billion in the current fiscal comfortably," commerce secretary B V R Subrahmanyam said while giving details about the trade data.
Reliance Industries Ltd on Friday reported a 9 per cent rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,265 crore, or Rs 25.52 per share, in October-December - the third quarter of the current 2023-24 fiscal - was 9.3 per cent higher than Rs 15,792 crore, or Rs 23.19 a share, earning a year back, according to a company statement. Quarter-on-quarter, the profit was lower when compared to Rs 17,394 crore earnings in the preceding three months ended September 30.
24x7 power supply to farmers emerges as a political lightning rod in the state.
The Supreme Court on Tuesday asked the Centre to clarify its stand on whether it wants to go ahead with its curative petition seeking Rs 7,844 crore as additional funds from successor firms of the US-based Union Carbide Corporation (UCC) for giving compensation to victims of the 1984 Bhopal gas tragedy.
Srinivas Bhogle and Purnendu Maji present Rediff.com's Most Valuable Player Index after 33 World Cup 2023 games.
IT services firm Infosys on Thursday reported an 11 per cent rise in consolidated net profit in June quarter at Rs 5,945 crore, but lowered full year growth outlook to 1-3.5 per cent amid macro uncertainties. The net profit (before minority interest) during the same period previous year stood at Rs 5,362 crore.
Big-serving John Isner bid farewell to his professional career after losing to fellow American Michael Mmoh in the US Open second round.
Air India chief Campbell Wilson on Friday said that a majority of pilots have accepted the new compensation package offered last week, amid protests by Air India pilots' unions against the revised salary structure and service conditions. The loss-making airline, which was taken over from the government by the Tata Group in January 2022, has announced a new compensation package for pilots and cabin crew. In his weekly message to Air India staff on Friday, Campbell said the airline is making investments in workplace technology and training as well as in new and improved employee benefits.
India's foreign exchange reserves dropped by $1.087 billion to stand at $529.99 billion for the week ended November 4 on a sharp decline in gold reserves, the Reserve Bank said on Friday. In the previous reporting week, the reserves had swelled by $6.561 billion to reach $531.08 billion, making it the biggest weekly jump in a year. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.
Amazon's fresh investment in its India entities come at a time when the Seattle-based firm has faced losses in several of its business entities in India, such as seller services, wholesale, transportation services and digital payments, for the 2018-19 financial year.
ITC's move to demerge the hotel business into a new entity, ITC Hotels Ltd, is a step in the right direction and will allay investor's concerns on the company's capital allocation strategy in the medium-to-long term, said analysts at Morgan Stanley in a note. According to the company, the board of directors has approved in principle the demerger of the hotels business, wherein ITC will hold a 40 per cent stake in the new entity, and the remaining 60 per cent will be held directly by shareholders. The scheme of arrangement shall be placed for approval of the Board at its next meeting to be convened on 14th August 2023.
Benchmark indices Sensex and Nifty slid for a seventh straight session on Monday, logging their longest losing run in the past five months, following a bearish trend in global markets amid concerns over aggressive rate hikes by developed economies. Fresh foreign fund outflows and losses in IT, auto and oil stocks also dented investor sentiments. The BSE Sensex declined by 175.58 points or 0.30 per cent to close at 59,288.35 with 17 of its shares posting losses.
Hindalco's first quarter (Q1FY23) results indicate healthy domestic volumes for aluminium and copper, and lower cost of production. Subsidiary Novelis saw weak volume trends but it managed to push operating profit margins on a better mix and pricing hikes. The weak global outlook on aluminium is a cause for ongoing concern.
