From the Sensex pack, Bharti Airtel fell 3.42 and Kotak Mahindra Bank declined 3.31 per cent. ICICI Bank, ITC, HDFC Bank, UltraTech Cement, HCL Technologies and Maruti were the other major laggards. Tata Motors, Hindustan Unilever, Asian Paints, Sun Pharma, Nestle, Tata Consultancy Services, Wipro, Bajaj Finance, Axis Bank and IndusInd Bank were among the gainers.
The country's largest software exporter TCS on Wednesday reported a 16.83 per cent jump in its June quarter consolidated net profit to Rs 11,074 crore. The Tata Group company had reported a net profit of Rs 9,478 crore in the year-ago period and Rs 11,392 crore in the preceding quarter. Its revenue from operations increased 12.55 per cent on a year-on-year basis to Rs 59,381 crore and was marginally up from the preceding March quarter's Rs 59,162 crore.
The stock of the country's largest listed oral care company -- Colgate-Palmolive (India) Ltd is up 18 per cent over the past month. The gains were led by better than expected June quarter (Q1) performance of the 2023-24 financial year (FY24) and growth revival expectations of the oral care category. The company's volume growth is pegged at 5-8 per cent in Q1FY24. This is the second consecutive quarter of volume growth.
Tata Sons chairman N Chandrasekaran on Thursday said the best of artificial intelligence and machine learning will be deployed at Air India and emphasised that the airline is not just another business for the group but a passion and a national mission. As Tata Group steers the transformation of loss-making Air India since taking control in January last year, Chandrasekaran said that he most of the time receives "caring criticism" about the airline that also further strengthens the commitment. Speaking at an event in the national capital where Air India's new brand identity and aircraft livery were unveiled, he said the focus is on upgrading all human resources aspects in the airline.
Tata Sons chairman Natarajan Chandrasekaran was paid Rs. 113 crore as remuneration for 2022-23 (FY23), including Rs. 100 crore as commission on profit. Chandrasekaran, 60, often referred to as Chandra, received a remuneration of Rs. 109 crore in 2021-22 (FY22). With this, Chandra has emerged as one of the highest-paid chief executive officers (CEO) in Corporate India for FY23.
The National Stock Exchange (NSE) on Monday cautioned investors against some fraudsters running illegal dabba trading with guaranteed returns to investors. Dabba trading is an illegal form of trading in shares, where operators of such trading rings allow people to trade in equities outside the stock exchange platform. The cautionary statements came after NSE found that the entities -- Shri Parasnath Commodity Private Limited, Shri Parasnath Bullion Private Limited, Faary Tale Trading Private Limited and Bharat Kumar (associated with Trade with Trust) --were providing dabba or illegal trading platform with assured returns.
The wholesale price-based inflation declined to 4.95 per cent in December 2022, mainly due to fall in prices of food articles and crude petroleum. The Wholesale Price Index (WPI)-based inflation was 5.85 per cent in November 2022 and 14.27 per cent in December 2021. Inflation in food articles was (-)1.25 per cent, while in fuel and power it was 18.09 per cent during December 2022.
Growing up in the Mumbai of 1970s, Uday Kotak aspired to be a cricketer and trained under legendary coach Ramakant Aachrekar. However, it was an on-field injury which resulted in a shift to finance. He started off with bill discounting, turned to lending and successfully applied to start a universal bank in the first decade of the millennium, as India was warming up to private play in banking.
Amid the raging Israel-Hamas war, a group of opposition leaders, including MP Danish Ali and former parliamentarians Mani Shankar Aiyar and K C Tyagi, visited the Palestine Embassy in New Delhi on Monday to express solidarity with Palestinians.
Priyanka goes shopping with Malti... Jacqueline has a request... Huma is a chaotic mess...
FMCG major Hindustan Unilever Ltd on Thursday reported an increase of 12.74 per cent in its consolidated net profit at Rs 2,601 crore for the fourth quarter ended March 31, 2023. The company had posted a net profit of Rs 2,307 crore in the January-March quarter of the previous fiscal. Its revenue from sales during the quarter under review stood at Rs 14,926 crore, up 10.83 per cent, as against Rs 13,468 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.
Equity benchmark indices ended flat on Wednesday with Sensex sliding 33 points and Nifty gaining 9 points after an unabated record-breaking rally in the last few trading sessions. Weak global market trends and fall in HDFC twins also spoiled markets party. The 30-share BSE Sensex dipped 33.01 points or 0.05 per cent to settle at 65,446.04.
HUL and Genpact aim to enable these businesses to eventually get absorbed into the supply chains of large consumer companies, including that of HUL. In 2021, the maker of Sunsilk shampoos committed to spending Rs 2,000 crore annually with diverse businesses by 2025, Ansu Archana, procurement director, beauty & wellbeing, HUL, told Business Standard. Archana added that the program aligns with Unilever's wide-ranging set of commitments and actions to help build a more equitable and inclusive society.
The Reserve Bank on Thursday instructed banks and other financial institutions to ensure cross-border as well as domestic wire transfers contain complete information about the originator and beneficiary. The central bank has updated instructions in the Master Direction on Know Your Customer (KYC) related to wire transfers and also aligned the same with the relevant recommendation of the Financial Action Task Force (FATF). "All cross-border wire transfers shall be accompanied by accurate, complete, and meaningful originator and beneficiary information...," as per the updated instructions in the Master Direction.
Manufacturing sector activities in India moderated in June from a 31-month high in May, but output remained in the growth territory, as new work orders expanded sharply amid favourable demand conditions, a monthly survey said on Monday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) fell from 58.7 in May to 57.8 in June. Despite the fall, the headline figure pointed to a considerable improvement in operating conditions, the survey said, adding that the demand strength positively impacted several other measures such as sales, production, stock building and employment.
From the Sensex pack, Mahindra & Mahindra climbed 3.81 per cent and Axis Bank advanced 2.68 per cent, followed by Tata Motors, Larsen & Toubro, Tata Steel, ICICI Bank, Reliance Industries, Maruti, IndusInd Bank and Sun Pharma. Asian Paints, Tech Mahindra, Nestle, Hindustan Unilever, Kotak Mahindra Bank and ITC were among the laggards.
The ongoing crisis in Manipur has affected several others in the country in one way or the other. Over the years Manipur has produced brilliant sports person in the country.
After a rather dull April when there were hardly any theatrical or OTT releases, May would be a lot more crowded with a dozen odd movies and web series arriving.
Among the Sensex firms, Kotak Mahindra Bank, Asian Paints, Tata Consultancy Services, HCL Technologies, Infosys, Tata Steel, Wipro, Bajaj Finance, Tata Motors, Titan and Bajaj Finserv were the major laggards. In contrast, IndusInd Bank, ITC, Bharti Airtel, Maruti, UltraTech Cement, Mahindra & Mahindra and State Bank of India were the gainers.
Among the Sensex firms, HDFC, HDFC Bank, Mahindra & Mahindra, Kotak Mahindra Bank, Bharti Airtel, Tata Motors, Reliance Industries and Maruti were the biggest laggards. Bajaj Finance, State Bank of India, NTPC, Hindustan Unilever, Titan, Infosys, Bajaj Finserv, Wipro, Asian Paints and Tata Consultancy Services were among the major gainers.
Among the Sensex firms, Power Grid, UltraTech Cement, Titan, Reliance Industries, Bajaj Finance, Mahindra & Mahindra, ICICI Bank, Tata Consultancy Services, Tech Mahindra, ITC and HDFC Bank were the major laggards. HCL Technologies, IndusInd Bank, Wipro, Nestle, Maruti, Larsen & Toubro and Asian Paints were among the gainers.
'There can be no bigger compliment than people walking away, carrying the film in their hearts, and thanking you for it.'
Among major Sensex shares, PowerGrid fell the most by 2.76 per cent. IndusInd Bank dropped 2.34 per cent, HUL by 2.23 per cent and NTPC by 2.04 per cent. ICICI Bank, HDFC Bank, HDFC, ITC, Infosys, L&T, Bajaj Finance, Kotak Bank, HCL Tech and Tech Mahindra were among the losers. On the other hand, Tata Motors rose the most by 2.94 per cent, followed by Titan which gained 1.26 per cent. Mahindra & Mahindra, SBI and TCS were also among gainers.
Shardul Thakur's better batting ability compared to speedster Prasidh Krishna could prove to be decisive while selecting the extra pacer for World Cup but both are likely to be auditioned if India pick a 17-member squad for the Asia Cup, which is set to be named on Monday.
'But hey, even lone wolves howl at the moon every now and then, right?'
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
'When you do some job for a few hours, you are hardly earning enough to survive.'
Among the Sensex firms, Tata Motors, HDFC Bank, ICICI Bank, HDFC, Bajaj Finserv, Reliance Industries, Hindustan Unilever, Larsen & Toubro, Asian Paints and Tata Steel were the major laggards. Sun Pharma, Titan, ITC, IndusInd Bank, Tech Mahindra and Power Grid were among the winners.
''The reason I have kept quiet is because all this tamasha will somewhere be read by my small children.'
I do have a dream biopic. It has as its subject Renu Saluja, the cosmically gifted editor, with a special focus on the Vidhu Vinod Chopra-Saluja-Sudhir Mishra love story, says Sreehari Nair.
India's third-largest pharmaceutical company by revenue, Cipla, is up for grabs in a three-way fight between Torrent Pharmaceuticals, Dr Reddy's Laboratories (DRL) and private equity (PE) giant Blackstone. Analysts say it is more likely for a strategic investor like Torrent or DRL to acquire Cipla than a PE firm, which may not derive healthy returns at Cipla's current market price (CMP) after the recent gains.
Under Urjit Patel, the then RBI Governor, the central bank had a habit of making complete about-turns on various issues, including electoral bonds and digital payments, former finance secretary Subash Chandra Garg said in his book titled 'We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.' Citing some instances of about-turns by the then RBI Governor Patel, Garg in his book said, RBI had done so on the electoral bond issue and it had so in case of setting up of Payments Regulatory Board (PRB). RBI also made unilateral decisions like ordering complete data localization for participation in the payment system, Garg wrote in the book which will hit the stands on October 1.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
Market benchmarks Sensex and Nifty tumbled 1 per cent on Wednesday amid continuous foreign fund outflows and a weak trend in index majors Reliance Industries and HDFC Bank. The 30-share BSE Sensex slumped 636.75 points or 1.04 per cent to settle at 60,657.45. During the day, it declined 700.64 points or 1.14 per cent to 60,593.56.
BSE's fresh shot at cracking the derivatives market is off to a promising start. However, Asia's oldest bourse is facing resistance from brokerages with nearly 10 large brokers yet to offer the relaunched Sensex and Bankex derivatives on their platforms. Many brokers maintain that they are working on the back end to enable BSE derivatives on their apps and websites. Some said while volumes are picking up, they are still miniscule compared to bigger rival NSE, which is the most-preferred venue for derivatives trading. Only a few brokers responded to formal queries sent by Business Standard on the issue of allowing BSE derivatives on their platform.
The Reserve Bank of India (RBI) has given HDFC Bank six months to migrate HDFC's home loan customers to external benchmark linked lending rate (EBLR), top sources in the bank told Business Standard. Almost half of HDFC's 5.4 million customers are home loan customers. It is mandatory for banks to link retail loans and loans to micro, medium and small enterprises to an external benchmark. Non-banking financial companies do not have such a mandate.
The Bombay high court on Thursday quashed the Enforcement Case Information Report' (ECIR) registered by the Enforcement Directorate against Jet Airways founder Naresh Goyal and his wife Anita Goyal in an alleged money laundering case. The central probe agency's ECIR was based on a First Information Report (FIR) registered by police against Goyals for alleged cheating and forgery on a complaint filed by Akbar Travels. After hearing both the sides, a division bench of Justices Revati Mohite Dere and Prithviraj Chavan quashed the ECIR registered on February 20, 2020 and all proceedings against Goyals on the ground of "being illegal and contrary" to law.
In the Sensex pack, Asian Paints, Larsen & Toubro, Titan, IndusInd Bank, Bharti Airtel, Power Grid, Bajaj Finserv, Infosys, HDFC Bank and HDFC were the major laggards. On the other hand, Axis Bank, Tata Motors, ITC, State Bank of India, Tata Steel and Sun Pharma were among the gainers.
Uday Kotak has resigned as the managing director and chief executive officer of Kotak Mahindra Bank, the bank said in a stock exchange filing on Saturday.
'Love, be it between a boy and a girl or your passion for your craft, carries with it no complaints.'
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