Encouraging results for PayTM (One97 Communications) for the 2022-23 financial year (Q4FY23) have led to a surge in the company's stock price, gaining nearly 5 per cent during Monday's trade. PayTM reported Q4FY23 revenues at Rs 2,330 crore, up 51 per cent on year-on-year (YoY) basis (13.2 per cent quarter-on-quarter or QoQ), led by monthly transaction user (MTU) growth of 27 per cent and average revenue per user or ARPU growth of 19 per cent YoY. MTU is defined as users with at least one transaction/month.
Shares of most of the Adani group firms ended lower on Monday, with the group companies' combined mcap witnessing a sharp fall of Rs 9.5 lakh crore after US-based short-seller Hindenburg Research's adverse report.
West Bengal Chief Minister Mamata Banerjee on Tuesday assured her counterpart from Delhi Arvind Kejriwal, that her party would support him in his fight against the central ordinance to control appointments and transfer of bureaucrats.
Production of eight infrastructure sectors expanded by 7.9 per cent in September -- the highest in three months -- on account of better show by coal, fertiliser, cement and electricity segments, according to official data released on Monday. In September last year, the growth rate stood at 5.4 per cent. It was 4.1 per cent in August. The previous high was in June when the output expanded by 13.1 per cent.
Industrial output grew by 7.1 per cent in April on better performance by power and mining sectors, as per government data released on Friday. Manufacturing sector recorded a growth of 6.3 per cent in the first month of the current financial year, as per the data released by the National Statistical Office (NSO). It further said growth rates over corresponding period of the previous year are to be interpreted considering the unusual circumstances on account of the COVID-19 pandemic since March 2020.
Three persons were shot dead and several others were injured as violence and arson marked the conclusion of nomination filing for the three-tier West Bengal panchayat polls slated next month.
West Bengal Chief Minister Mamata Banerjee will visit Chennai on November 2 and is likely to hold a meeting with her Tamil Nadu counterpart M K Stalin to discuss their strategies for the 2024 Lok Sabha poll, a senior government official said on Tuesday.
The department of commerce has urged the agriculture ministry as well as the diplomatic mission in Tehran to apprise it of details as to why Iranian buyers have stopped import of rice and tea from India, a senior government official said. Exporters said that exports of items such as high quality tea and rice have stopped since last week. As of now, there has been no confirmation from the authorities and the response from the embassy in Tehran is also taking time, they said.
State Bank of India (SBI) may carry out a planned Rs 10,000 crore sale of infrastructure bonds in the market this week, with the securities likely to be of 15-year maturity, sources told Business Standard. SBI, the country's largest bank, had last week said its board had approved the issuance of infrastructure bonds in the current fiscal year. It, however, had not mentioned the maturity of the bonds or when the sale would take place.
A struggling Indian team, severely depleted by a spate of on-field injuries and fitness-related problems, will be determined to avoid the ignominy of a clean sweep against Bangladesh in the final ODI of the three-match series.
Union Minister Nitin Gadkari on Thursday said the government will approach the capital market this month to raise funds for road projects. Addressing an event, he said toll revenue of the NHAI will soar to Rs 1.40 lakh crore per annum in next three years from Rs 40,000 crore per annum currently. "This month, I will be approaching the capital market to raise funds for road projects...Our toll income is very good and NHAI's rating is AAA...I am 100 per cent sure that we will get a good response from the capital market," the Road Transport and Highways minister said.
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West Bengal Congress spokesperson Kaustav Bagchi was granted bail by a court in Kolkata on Saturday evening, hours after being arrested for his alleged comments against Chief Minister Mamata Banerjee.
In a first since last year's state elections, West Bengal Chief Minister Mamata Banerjee on Friday held a 'courtesy meeting' with Leader of the Opposition Suvendu Adhikari at her chamber in the state assembly, raising eyebrows in political circles.
Who do you think should be part of India's playing XI for the first Test against Bangladesh, starting on Wednesday?
Senior Congress leader and former Union Minister P Chidambaram suffered a fracture in his left rib after he was pushed away by Delhi Police during the party's protest in support of Rahul Gandhi who was summoned by the Enforcement Directorate in connection with the National Herald case, said the party on Monday.
Congress leaders and workers continued their protests in several states on Thursday against Rahul Gandhi's questioning by the Enforcement Directorate in the National Herald money-laundering case with many of them taken into preventive custody including former Union minister Renuka Chowdhury in Hyderabad after she allegedly grabbed the collar of a police official.
One of the reasons why the TMC decided not to demand a JPC is that the chairperson and most of its members would be from the BJP, he said, adding JPC means putting the issue under the carpet.
The Adani stock price saga will pass into public memory as one of those matters that simply escaped being nailed down, perhaps because too many vested interests were involved, notes Debashis Basu.
In the all-party meeting on Tuesday, Opposition parties demanded discussions on price rise, unemployment and Economically Weaker Section (EWS) quota among other issues, sources said.
Sources said the issues to be raised during the monsoon session of Parliament starting July 19 were discussed at a meeting of the Congress parliamentary strategy group on Wednesday, which was chaired by party chief Sonia Gandhi and attended by former prime minister Manmohan Singh and former Congress president Rahul Gandhi.
Sources said the opposition parties would look to avoid the prickly leadership question as of now and emphasise on building a common ground.
As many as 11 Lok Sabha MPs of the Congress have written to Speaker Om Birla against the "unethical conduct" of BJP parliamentarians Rajyavardhan Singh Rathore, Subrat Pathak and Bhola Singh of sharing a distorted and fake video of Rahul Gandhi that could pose a threat to the country's social fabric and demanded swift intervention.
The Congress on Friday welcomed the statements of opposition leaders condemning Rahul Gandhi's disqualification from the Lok Sabha and said it was now time for the party to take on the job of building the opposition unity in a "systematic way".
State Bank of India (SBI) on Monday raised its benchmark lending rates by up to 50 basis points (or 0.5 per cent), a move that will lead to an increase in EMIs for borrowers. The increase in lending rate comes days after the Reserve Bank of India hiked its benchmark lending rate by 50 basis points to tame inflation. External Benchmark based Lending Rate (EBLR) and Repo-Linked Lending Rate (RLLR) have been raised by 50 basis points while the hike in Marginal Cost of funds-based Lending Rate (MCLR) is 20 basis points across all tenure.
While he has 57 first-class, 24 List A and 39 T20 wickets at domestic level, Shahbaz Ahmed does have the ability to punch above his weight.
Target prices around Rs 400 suggest a significant upside.
Yeh Hai India: Capturing the events and moods across our incredible country.
A veritable political `storm in a tea cup' has arisen over Trinamool Congress supremo Mamata Banerjee's assertions on Wednesday that all in the Rashtriya Swayamsevak Sangh were "not bad" and there are many who "do not support the BJP".
'The rising cost of construction, the cost of doing business, high compliance, and inflation/interest rates going up have already reduced returns to single digits.'
The cement sector may be looking at better realisations and higher volume offtake going by the trends of the October-December quarter of the 2022-23 financial year (Q3FY23), a recent price hike, and the promise of a continued infrastructure thrust in FY24. In Q3, revenues rose by an aggregate of 17 per cent year-on-year (YoY), but Ebitda (earnings before interest, tax, depreciation and amortisation) per tonne, fell by 14 per cent YoY while profit after tax (PAT) rose by 23 per cent YoY. Expenses were up 30 per cent per tonne YoY - power and fuel costs in particular - and that's no surprise given the rise in fossil fuel prices.
The women's reservation bill is back in focus ahead of Parliament's winter session, with several opposition parties, including the Janata Dal-United, which had once opposed the move, demanding that it be introduced and passed in this session.
The Enforcement Directorate (ED) on Tuesday grilled arrested West Bengal minister Partha Chatterjee and his alleged associate Arpita Mukherjee who were arrested in connection with the school jobs scam, sources said.
Bharti Airtel on Thursday said its 5G services have gone live in eight cities of Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Siliguri, Nagpur and Varanasi. The customer availing 5G services will have to pay as per their existing 4G plan, it said. "Airtel has been at the forefront of India's telecom revolution for the last 27 years.
The cement industry continues to present a puzzle to investors.
Gold, the safest haven amid the ongoing uncertainty, also emerged as one of the most lucrative investment options in financial year 2022-23 with an impressive return of 16.1 per cent in rupee terms, and 2.3 per cent returns in dollars. And, had it not been for the very high inflow of smuggled gold and the huge discount prevailing in the market due to high prices, the returns in gold would have been much higher, analysts said. The precious metal has consistently been delivering positive returns in India since 2016.
The cement plants at Barmana (Bilaspur district) and Darlaghat (Solan district) had closed operations on December 14 due to the dispute between the company and truckers engaged in the carriage of cement and clinkers. According to a government statement, Chief Minister Sukhvinder Singh Sukhu said, "We have arrived at consensus, thereby protecting the interests of both the truck-operator unions and the management, besides welfare of all others who were being directly or indirectly hit by the stalemate."
Senior Congress leaders, MPs among 459 protesters detained
The government on Monday said that matters regarding Chinese intrusion can't be discussed in Parliament as it concerns the security of the country.
The maintenance, repairs and overhault firm, which has six investors, received its first external funding from GTI Group and Punj Lloyd in 2007. All existing investors will exit the company following the transaction.
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