The country's largest private lender HDFC Bank on Saturday reported a 6.51 per cent decline in its consolidated net profit to Rs 16,474.85 crore in the April-June quarter compared to the previous January-March quarter. The city-headquartered lender, which merged its mortgage major parent HDFC into itself in July last year, had reported a net profit of Rs 17,622.38 crore in the March quarter. On a standalone basis, the net profit declined to Rs 16,174.75 crore in April-June 2024-25 from Rs 16,511.85 crore in January-March 2023-24.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Rahul Gandhi, who is seeking a successive term from the Wayanad Lok Sabha seat, has declared assets of over Rs 20 crore in his nomination papers.
For Rajkummar Rao, this is turning out to be a winning season as he has scored another winner in quick time after Srikanth.
With the arrest of Dixit Patel, owner of Jay Jalaram School situated near Godhra in Panchmahal district, the number of persons arrested so far- five of them were held by Gujarat Police- has gone up to six.
The hospitality industry has seen plenty of interest since the catastrophic impact of the pandemic, which led to losses in FY21. The hotel industry market cap has more than tripled since 2019 on the combination of a strong earnings rebound and positive surprises, as well as three recent listings. The industry has good tailwinds. The anticipation is, demand for rooms will outrun supply for a few years despite capacity expansions.
Capital markets are becoming more prominent in India's growth story, with an expanding share in capital formation and investment landscape on the back of technology, innovation and digitisation, according to the Economic Survey 2023-24 tabled in Parliament on Monday. Further, Indian markets are resilient to global geo-political and economic shocks, it added. "Despite heightened geo-political risks, rising interest rates and volatile commodity prices, Indian capital markets have been one of the best performing among emerging markets in FY24," the Economic Survey said.
Delhi Capitals' teenaged wicketkeeper-batter Kumar Kushagra can't wait to play alongside the likes of Rishabh Pant.
It was a dull weekend at the box office.
UltraTech Cement Ltd on Monday reported a 35.24 per cent increase in consolidated net profit at Rs 2,258.58 crore for the fourth quarter ended March 31, 2024. The leading cement maker had posted a consolidated net profit of Rs 1,670.10 crore in the January-March quarter of the last fiscal, according to a regulatory filing from UltraTech. Its revenue from operations rose 9.41 per cent to Rs 20,418.94 crore during the period under review.
This year's tally is the second best ever after 2022 when 16 firms raised Rs 40,311 crore, led by LIC's biggest-ever IPO.
The National Pension System (NPS) added 21.5 per cent fewer fresh subscribers under the corporate segment in 2023 compared to the preceding year. Government officials and experts attribute it to the higher exemption limit of income tax of Rs 7 lakh announced in the FY24 Budget that no more requires employees under this income bracket to opt for NPS for tax-saving purposes. Data collated from the Ministry of Statistics and Programme Implementation (MoSPI) reveals that the corporate component is voluntary in nature and saw 158,212 new subscribers in 2023 compared to 201,517 during 2022.
State Bank of India, NTPC, Nestle, Sun Pharma, JSW Steel, ITC, Mahindra & Mahindra and HCL Technologies were among the other major gainers.
The total allocation to the defence sector is 12.9 per cent of the total budget of the government of India for the financial year 2024-25.
'He fears that the youth tide has gone against him and he will be swept away in the next assembly election in the state.'
Mutual funds (MFs) scooped up smallcap shares across sectors such as healthcare, banking and financial services in March 2024 amid a near 4.5 per cent fall in key smallcap indices. Aster DM Healthcare, NLC India, and Aavas Financiers topped the list of most-bought stocks in the Rs 10,000-40,000 crore market capitalisation (mcap) bracket, according to a study by Nuvama Alternative & Quantitative Research. Aster and Aavas had corrected by 13 per cent and 10 per cent in March, respectively, while NLC India ended the month with a 2.5 per cent gain.
After producing Darshan and three others before the court, the police stated that they were not making the names of the eyewitnesses public citing their safety.
The car can go from 0 to 100 kmph in just 3.9 seconds.
High-end apartments, penthouses, and bungalows boasting amenities like swimming pools, expansive driveways, and premium interiors are becoming highly sought after.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
In May, MFs were the net sellers in several PSUs, as they deployed Rs 47,600 crore in equities during the month.
The Agriculture Ministry has incurred an expenditure of Rs 67,99,750 on production of three promotional and two educational films on the farm laws for its wider publicity through electronic media, social media and webinars.
The ruling BJP's income forms 76.73 percent of the total income of the six national parties during FY 2022-23, it said.
India on Monday set aside over Rs 7,100 crore in its budget for 2021-22 as development assistance for countries in its neighbourhood as well as in Africa and Latin America, with Bhutan getting the maximum allocation of Rs 3,004 crore while Rs 100 crore will be given to Chabahar port project in Iran.
Prime Minister Narendra Modi on Sunday pleaded with a child at a tribal rally to stop waving at him so that his arm doesn't ache.
Investors shunned shares of Bajaj Finance on Friday, a day after the non-banking financial company (NBFC) reported a sharp contraction in its net interest margin (NIM) for the March quarter of the financial year 2023-24 (Q4FY24). The losses accounted for a fifth of the benchmark S&P BSE Sensex's 609-point loss. Most brokerages have tamed their earnings expectations for the next couple of quarters, after the management said it expected the pressure on NIMs to continue in the near term.
In March 2021, Ola Electric founder Bhavish Aggarwal was seen surveying an empty 500-acre land surrounded by shoe factories, temples, bakery shops, coconut trees and dusty roads in Pochampalli town of Krishnagiri district, Tamil Nadu. Many excavators and workers were busy at the construction site to build the Ola Futurefactory for electric vehicles.
Reddy, who was an accused in a money-laundering case linked to the alleged liquor scam in Delhi, had turned an approver in the case that is being probed by the Enforcement Directorate (ED). The CBI is yet to file a chargesheet against him.
'When I called the HR department, they abused me.'
Max Life Insurance plans to hire 30,000 agents and open 50 to 100 new offices in the financial year 2024-25 (FY25) to drive premium growth, said Prashant Tripathy, managing director and chief executive officer of the company. The private insurer's total agent count will rise to 1,30,000 in FY25. It added 47,957 agents in FY24, 54 per cent more than the year before.
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
'The scheme excludes tractors, light commercial vehicles, and medium and heavy commercial vehicles.'
Revenue from divestment has fetched Rs 40,000-50,000 crore against target of Rs 2.10 trillion.
'The election results mean that the Opposition can no longer either be ignored or attacked in the way that it has been.' 'For this reason it will be interesting to see how it behaves from here on and whether there is any change in its behaviour,' notes Aakar Patel.
The market capitalisation of BSE-listed companies jumped to a lifetime peak of Rs 404.18 lakh crore on Thursday helped by a five-day rally in benchmark indices, making investors richer by Rs 11.29 lakh crore. Recovering after a sell-off in early trade, the 30-share BSE Sensex climbed 486.50 points or 0.66 per cent to settle at 74,339.44 on Thursday. During the day, it surged 718.31 points or 0.97 per cent to 74,571.25.
Mauritius-based IndusInd International Holdings and other Hinduja group entities are expected to make payments worth Rs 9,661 crore for the acquisition of bankrupt Reliance Capital (RCap) only after getting all the legal and regulatory clearances, including from the Supreme Court, thus delaying the closure of the transaction. A source close to the development said that according to the National Company Law Tribunal (NCLT) order dated February 27, the payment for the acquisition was to be made within 90 days from the NCLT's approval of the resolution plan and after receiving all legal and regulatory clearances.
While super hits like Jawaan are missing this year, it has been filled with a range of medium-range hits such as Crew, Teri Baaton Ne Uljhaa Diya and Guntur Kaaram, observes Vanita Kohli-Khandekar.
The BSE faces a larger outgo after regulatory clarity on the fee to be paid to the Securities and Exchange Board of India (Sebi) as a turnover charge on options volume. The market regulator on Friday directed the exchange to pay a regulatory fee on the 'notional value' of annual turnover.
Telecom operator Bharti Airtel on Tuesday posted a 31 per cent drop in consolidated profit to Rs 2,072 crore in the March quarter mainly due to devaluation of the Nigerian Naira. The company had registered a profit of Rs 3,005.6 crore in the year-ago period. The consolidated revenue of operations increased 4.4 per cent to Rs 37,599.1 crore during the quarter under review from Rs 36,009 crore a year earlier.
NMDC, the country's largest iron-ore miner, posted a consolidated revenue in the January-March quarter of FY24. This was in line with estimates at Rs 6,500 crore, which was up 11 per cent year-on-year (Y-o-Y), and a 20 per cent quarter-on-quarter (Q-o-Q) rise on the back of realisations. Iron-ore production was 13.3 million tonnes (down 6 per cent and up 8 per cent Q-o-Q), while the sales stood at 12.5 MT (up 1 per cent Y-o-Y and up 10 per cent Q-o-Q).
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