Siemens reported solid results in the July-September quarter (fourth quarter, or Q4) of 2022-23 (FY23), with the top line growing 25 per cent year-on-year (Y-o-Y) to Rs 5,808 crore. The operating profit margin stood at 12.1 per cent, led by lower employee costs and other operating expenses. The company follows the October-September financial year.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
The Supreme Court on Thursday allowed jailed activist Gautam Navlakha's request for house arrest, saying prima facie there is no reason to reject his medical report.
One of the major points in the agenda of BCCI's AGM to be held in Ahmedabad is the inclusion of new IPL franchises.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Several countries across the globe use VAR in their domestic club competitions after it was first introduced in Australia and the United States.
Bajaj Auto's market capitalisation (market cap) hit Rs 2 trillion mark for the first time. The stock of the two and three-wheeler major rallied 6 per cent to hit a new high of Rs 7,420 on the BSE in Tuesday's (January 9) intraday trade after its board approved Rs 4,000 crore share buyback at Rs 10,000 per share. The stock ended the day at Rs 7,093.75, up 1.55 per cent and its market cap a shade above Rs 2 trillion.
Delhi Lt Governor V K Saxena has recommended an NIA probe against Chief Minister Arvind Kejriwal for allegedly receiving political funding from the banned terrorist organisation 'Sikhs for Justice', Raj Niwas sources said on Monday.
World number one Iga Swiatek edged Aryna Sabalenka 7-5, 4-6 7,-6(7) in a gripping and gruelling Madrid Open final to win the title for the first time on Saturday in what was a repeat of last year's summit clash at the WTA 1000 claycourt tournament.
The play by the Lalit Kala Kendra, officially called the Centre for Performing Arts, was based on the backstage banter of actors who perform various roles in 'Ramleela'.
A BCCI source told PTI that the permission in writing is due to come any time in the next few days.
'The Budget will be positive, continuing on the path of growth taken so far.'
The ICC on Tuesday moved next year's men's U-19 World Cup from Sri Lanka to South Africa, 11 days after the world governing body provisionally suspended the island nation's cricket board due to government interference.
Markets regulator Sebi will put in place a framework for the Application Supported by Blocked Amount (ASBA) facility for investors in secondary market trading, similar to the existing system for IPO investors. Sebi's board approved the proposal during its meeting here on Wednesday. Through the proposed facility, which would be optional for investors as well as stock brokers, Sebi aims to bring in "efficiency in the secondary market ecosystem by allowing usage of same blocked amount towards margin and settlement obligations.
Directors look at ways to avoid overstretched valuations.
According to Exam Controller Sanyam Bhardwaj, the exams which were pending due to the COVID-19 situation have been cancelled.
Billionaire Gautam Adani-led promoter group has increased stake in two of the group's listed companies, as the ports-to-energy conglomerate continues to work on a claw back strategy after being hit by damaging reports. The promoter group has increased stake in flagship Adani Enterprises to 71.93 per cent from 69.87 per cent, according to stock exchange filings. This is the second time in less than a month that the promoters have raised stake in the flagship firm that incubates new businesses.
Ports, Shipping and Waterways Minister Sarbananda Sonowal made the request during a meeting with Iranian Foreign Minister Hossein Amir-Abdollahian in Tehran on Monday.
The Reserve Bank of India (RBI) on Monday allowed microfinance lenders to fix interest rates on loans with a rider that those should not be usurious for the borrowers. A microfinance loan is defined as a collateral-free loan given to a household having an annual income of up to Rs 300,000. Each regulated entity (RE) should put in place a board-approved policy regarding pricing of microfinance loans, said the 'Master Direction - Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022'. In the past, the central bank used to announce the rates on quarterly basis.
Tata Sons on Thursday announced the appointment of Campbell Wilson as chief executive officer and managing director of Air India. Wilson is the founding CEO of low-cost airline Scoot.
To seek tax exemption, a start-up will now have to apply, with all the documents, to the DIPP instead of the inter-ministerial board of certification. The earlier requirement of start-up to submit report from merchant banker specifying the fair market value of shares has also been removed.
India Inc is staring at significantly higher compliance and governance costs, following the Securities and Exchange Board of India's (Sebi's) latest tightening of disclosure norms and regulations around the filling of key positions, the materiality of information, and third-party transfers. Recently, the securities market regulator amended the Listing Obligations and Disclosure Requirements (LODR) to introduce a raft of changes that will affect how listed companies go about transparency and disclosures. The new framework will further empower public shareholders and soon move towards a 'comply or be penalised regime or comply or explain' in the case of high-value debt-listed entities.
Sanofi India is seeking approval of the shareholders for perpetuity.
Here is an explainer on the functioning of the seven-year-old body.
Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, she said in a reply to Rajya Sabha. "Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards.
The buyback, at Rs 2,100 per equity share, entails up to 7.61 crore shares or 1.99 per cent of the total paid up equity share capital.
In a move to strengthen governance in private sector banks and wholly-owned subsidiaries of foreign banks, the Reserve Bank of India (RBI) on Wednesday directed them to have at least two wholetime directors. Lenders that do not meet the requirement will have to submit the names for the RBI's approval within four months. Banks need prior approval from the banking regulator for the appointment of wholetime directors.
The government is contemplating changes to the Insolvency and Bankruptcy Code (IBC) to deal with environmental claims and liabilities of defaulting companies to make the law future-ready and meet climate action goals, sources told Business Standard. Currently, the IBC has various categories of claims and creditors, including those related to environmental liabilities.
Nine people were on the helicopter that crashed in northwest Iran on Sunday, including three officials, an imam, and flight and security team members, as reported by Tasnim news.
India already allows 100 per cent ownership of greenfield pharma businesses.
Sebi also approved new delisting rules.
The National Stock Exchange (NSE) of India is going to indefinitely defer the internal deadline set for extending trading hours, according to sources in the know. The exchange aimed to introduce a three-hour evening session exclusively for index derivatives by March 2024, contingent upon regulatory clearance from the Securities and Exchange Board of India (Sebi). Sources indicate that the market regulator has not provided a favourable indication, dimming optimism surrounding the proposal.
Debt-ridden Vodafone Idea is planning to begin 5G rollout in six months in select cities and places where 5G device concentration is high, a senior company official said on Friday. Vodafone Idea CEO Akshaya Moondra said the company expects capital expenditure of the company to be in the range of Rs 50,000-Rs 55,000 crore over the next three years with focus on expanding and strengthening 4G coverage.
The Reserve Bank of India (RBI) will meet top executives of asset reconstruction companies (ARCs) on Friday to take stock of the sector. During the meeting, ARCs will also seek clarity from the regulator on bank borrowing. While there is no regulatory ban in place, ARC sources said banks often refuse funding.
Cricket has been suspended since March and the ECB approved an additional financial package of 35.7 million pounds ($44.71 million)
"International Cricket Council Board has suspended Sri Lanka Cricket's membership of the ICC with immediate effect," read a statement from the ICC.
Glenmark Pharmaceuticals on Thursday said it will sell a 75 per cent stake in its subsidiary Glenmark Life Sciences to Nirma Ltd for Rs 5,651.5 crore.
The Indian team's formal wear and accessories, BCCI ratings, awards and web portal were approved by the Marketing Committee.
'I am not against technology in the game. But if it brings doubt and confusion, it is not acceptable. Some decisions were not understandable. The ball hitting the stumps is always out. I will never understand why there is an umpire's call.'
