BUSINESS
Financials lead Sensex down
"While hoping that things won’t get worse let us look at the broad trends. In spite of the tragic geopolitical developments, globally markets are resilient. There are two main reasons for this. One, the US economy continues to be strong and this is supporting the mother market and thereby other markets, too. Two, the market view is that the Fed (Federal Reserve) will succeed in soft landing the US economy and avert a recession," he added.
ONGC, OIL to gain as govt cuts windfall tax on crude oil
The windfall tax on petroleum crude was raised to Rs 12,100 a ton from Rs 10,000 with effect from September 30 as oil prices at the time had soared to $95 a barrel. Oil prices came down but have started heading north again in the wake of the Israel-Hamas conflict.
CCI okays IDFC's merger with IDFC First Bank
"The CCI vide its letter dated October 17, 2023 has communicated that it has considered and approved the combination under Green Channel Route," IDFC said in a regulatory filing with the stock exchange. The proposal for the merger was approved by the board of directors of IDFC and IDFC First Bank on July 3.
RBI slaps Rs 12 cr fine on ICICI Bank, Rs 3.85 cr penalty on Kotak Mahindra Bank
"The penalty on ICICI Bank was imposed for contravention of sub-section (1) of Section 20 of the Banking Regulation Act, 1949 (the BR Act) read with directions issued by RBI on 'Loans and Advances-Statutory and Other restrictions', sub-section (2) of Section 6 and Section 8 of the BR Act read with directions issued by the RBI on ‘Financial Services provided by the Banks’, and non-compliance with the RBI directions on ‘Frauds classification and reporting by commercial banks and select Fls," the RBI said.
Bajaj Finance to acquire 26% stake in Pennant Technologies for Rs.267.50 crore
The company also said it closed the second quarter of FY24 with a net profit of Rs 3,105.75 crore.
Nifty surpasses 19800 mark on all round buying
At the closing bell, the Sensex was up by 261.16 points or 0.39 per cent, reaching 66,428.09, and the Nifty gained 79.70 points or 0.40 per cent, closing at 19,811.50.
Bengaluru airport ranked as world’s most punctual, Hyderabad at 3rd spot
The other airports that figure in the top five list are Salt Lake City International Airport in Utah (US) in the second position, Rajiv Gandhi International Airport in Hyderabad at the third spot, Minneapolis-St. Paul International Airport fourth and El Dorado International Airport at fifth place.
AirAsia CEO's shirtless massage photo sparks controversy on LinkedIn
“Was a stressful week and Veranita Yosephine suggested a massage. Got to love Indonesia and AirAsia culture, that I can have a massage and do a management meeting! We are making big progress and I have now finalised Capital A structure. Exciting days ahead. Proud of what we have built and never have lost sight of the finish,” he wrote in a post on LinkedIn.
Vedanta invites Japanese companies to partner in India's electronics manufacturing revolution
Vedanta, a global natural resources and technology conglomerate, highlighted the tremendous investment opportunities in India, especially in Gujarat, and urged Japanese companies to partner in India’s electronics manufacturing revolution.
Rocket startup Agnikul raises Rs 200 Cr capital
According to Agnikul Cosmos, the latest round saw participation from venture capital investors such as Celesta Capital, Rocketship.vc, Artha Venture Fund and Artha Select Fund, Mayfield India, along with participation from existing investors pi Ventures, Speciale Invest, Mayfield India and others.
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