In this issue

May 18, 2024

Bandhan Bank Q4 profit falls 94% to ₹54.6 crore

Bandhan Bank on Friday reported a 93.24 per cent drop in its net profit to ₹54.6 crore in the March quarter (Q4FY24) compared to a profit of ₹808.3 crore in the corresponding quarter of the previous financial year.

1 min

UN ups India's CY24 growth forecast

The United Nations (UN) has revised upwards India's growth forecast for 2024 by 70 basis points to 6.9 per cent, from 6.2 per cent estimated in January this year, driven by robust public investment and resilient private consumption.

1 min

RBI flags concerns over functioning of debt recast firms

Meeting with ARCS part of supervisory engagements

1 min

Adani Ports & SEZ shares stable after Norges Bank exit

A day after Norway's Norges Bank decided to sell its shares in Adani Ports & Special Economic Zone, the company's shares closed stable at ₹1,336 a share on Friday.

1 min

Trent, Bharat Electronics in Nifty 50 contention

Tata group retailer Trent and state-owned Bharat Electronics Ltd (BEL) are seen as likely contenders to the benchmark Nifty 50 index during the next rebalancing exercise in September.

1 min

M&M stock races ahead on strong Q4 results, healthy outlook

Mahindra (M&M) reported very strong results for the January-March quarter of the last financial year (Q4FY24), beating consensus comfortably.

3 mins

Silver outpaces gold as buying gains momentum

Gold's record-setting rally may have captured the headlines this year, but it's silver that's running harder and faster as the less glamorous metal benefits from robust financial and industrial demand.

1 min

Go Digit IPO booked 9.6x on last day, QIBS bet big

The ₹2,615 crore initial public offering (IPO) of the Fairfaxbacked Go Digit General Insurance closed on Friday, with the issue getting subscribed over 9.6 times.

1 min

Bajaj MF adds to variety in multi-asset space

Takes the dividend yield route to stand out in emerging hybrid category

1 min

Heavyweights lift Sensex, Nifty

Equity benchmarks Sensex and Nifty closed higher for a second straight day on Friday as buying in index majors M&M, Reliance Industries, and ITC helped the indices rebound from early lows.

1 min

MFs may get nod to invest in ETFs with India presence

India exposure in such global ETFs could be capped at 20%

2 mins

PwC affiliates 'violating' local laws, says ICAI

The Institute of Chartered Accountants of India (ICAI) has found that seven affiliates of auditing major PwC were violating the local laws.

1 min

'Management education key area for a developing country'

Management education in India has transformed, adapting to the changing demands of the global business environment, says PROF J PHILIP, founder and chairman, Xavier Institute of Management & Entrepreneurship (XIME).

3 mins

China unveils 'historic' steps to stabilise property sector

China announced \"historic\" steps on Friday to stabilise its crisis-hit property sector, with the central bank facilitating 1 trillion yuan ($138 billion) in extra funding and easing mortgage rules, and local governments set to buy \"some\" apartments.

1 min

Vatican tightens norms on 'supernatural events'

The Vatican on Friday radically reformed its process for evaluating alleged visions of the Virgin Mary, weeping statues and other seemingly supernatural phenomena, putting the brakes on making definitive declarations unless the event is obviously fabricated.

1 min

Putin, Xi vow to cooperate against US 'containment'

Leaders also warned of increased strategic risks from tensions between nuclear powers

1 min

Israel resists grand bargain as US, Saudis work on security pact

American and Saudi officials have tried to revive prospects for a deal by demanding more from Israel cease-fire in Gaza and irreversible steps toward the founding of a Palestinian nation.

1 min

Ready to fund up to 50% of AI compute infra: Meity secy

The government is ready to finance up to 50 per cent to create Artificial Intelligence (AI) compute infrastructure in the country, said S Krishnan, secretary Ministry of Electronics and Information Technology (Meity)

1 min

Role of advanced tech, critical materials more pronounced: Industry

As the future of mobility evolves rapidly, the role of critical materials and advanced technologies has become more pronounced, industry leaders said.

1 min

Need our own JP Morgans and Citibanks: NITI chief

Calls for reforms in tariff policy, including lower tariffs, ease of procedures

2 mins

'India could be 3rd-largest economy by 2027'

India could become the third largest economy by 2026-27 if it continues to grow at the current pace in the forthcoming years, the 16th Finance Commission chairperson, Arvind Panagariya, said on Friday.

1 min

PM slams 'Maoist economics' of INDIA bloc; Opposition counters

Prime Minister Narendra Modi on Friday described the Congress manifesto for the Lok Sabha polls as \"Maoist\", which he warned will put a break on the country's economic growth and lead it to bankruptcy if implemented.

2 mins

PM's first Delhi address to see two dozen diplomats

Two dozen diplomats from across the world will attend Prime Minister Narendra Modi's public meeting in Delhi on Saturday, his first in the city during the 2024 Lok Sabha elections.

2 mins

Maliwal case: AAP, BJP spar; Congress distances itself

Aam Aadmi Party (AAP) Rajya Sabha member Swati Maliwal's allegations accusing Delhi Chief Minister Arvind Kejriwal's aide Bibhav Kumar of assaulting her have hurt the Delhi CM's election Lok Sabha election campaign at a crucial juncture.

2 mins

Desawari paan: Of fragrance, flavour & forgotten farmers

In the heart of the Bundelkhand region, the unique flavour and fragrance of the Desawari variety of paan, or betel leaves, once filled the air.

3 mins

Mumbai North demands better connectivity

Residents in Mumbai North acknowledge improvement in local train service, such as the introduction of air conditioned trains, metro service, and digitisation in the past few years.

2 mins

Mumbai MSMEs clamour for govt support

A local apparel manufacturer notes a conspicuous absence in Prime Minister Narendra Modi's usual salutations \"Modiji typically addresses his speeches to 'mere pyare desh vasiyo' and 'yuva bharat' ('my dear citizens' and 'young India') but it's seldom that you hear 'mere pyare vyapario' ('my dear traders').

3 mins

EAR TO THE GROUND In Singur, Lakshmir Bhandar in the spotlight

Water seeps into Sunita Malik's house in Singur every time it rains.

3 mins

5G rollout in 6 months, 4G remains priority: ViCEO

Vodafone Idea (Vi) expects to start rolling out 5G coverage within six months and is in talks with vendors, CEO Akshaya Moondra said on Friday.

1 min

From Zerodha to Cars24, 10 unicorns to hop on ONDC

ONDC in 'serious discussions' with Amazon, Flipkart to join the network

2 mins

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