Business News
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24 Oct 2023
Indian GovernmentWhy Centre is keeping PPF interest rate lower than formula
Despite the fluctuating market interest rates, the Indian government has deliberately kept the Public Provident Fund (PPF) interest rate steady at 7.1% due to the tax advantages it provides, reported Moneycontrol, citing a senior government official.
24 Oct 2023
CryptocurrencyBitcoin gains over 12% to hit 18-month high
Bitcoin has climbed 12.07% in the past 24 hours, trading at $34,418.56. It is 22.01% higher than last week.
24 Oct 2023
BYJU'SByju's CFO Ajay Goel resigns after seven months, rejoins Vedanta
Ajay Goel, who assumed the role of CFO at Byju's in April, has announced his departure from the edtech behemoth after a mere seven months.
24 Oct 2023
United States of AmericaUS Treasury yield hits 16-year high: Know factors and implications
For the first time since July 2007, the 10-year US Treasury note's yield hit 5.004% on October 23, fueled by investors anticipating robust American growth and fiscal concerns.
23 Oct 2023
PaytmPaytm founder launches investment fund for AI, EV start-ups
Paytm's founder and CEO Vijay Shekhar Sharma has announced a SEBI-approved, Category II Alternate Investment Fund (AIF) named 'VSS Investments Fund.'
23 Oct 2023
TeslaTesla to exceed $9 billion capex target this year
Tesla announced on Monday that its capital expenditure for 2023 is set to surpass its previously projected range of $7 billion to $9 billion.
23 Oct 2023
Initial Public Offering (IPO)Cello World's Rs. 1,900cr IPO opens on October 30
Cello World, a popular consumer goods company, is preparing to launch its Rs. 1,900-crore initial public offering (IPO) on October 30.
23 Oct 2023
Stock MarketNifty Midcap index falls to 2-month low amid global uncertainty
The Nifty Midcap 100 index has plunged to a two-month low, dropping over 2.5% to 38,854, amid broader global uncertainty and mixed quarterly corporate earnings.
23 Oct 2023
SpaceXSpaceX to launch Europe's navigation and communication satellites
SpaceX is set to launch up to four of Europe's key navigation and secure communication satellites into orbit, as reported by The Wall Street Journal.
23 Oct 2023
USAChevron to acquire Hess Corp in $53 billion all-stock deal
Chevron Corp will acquire smaller competitor Hess Corp in an all-stock transaction valued at $53 billion (Rs. 4.4 lakh crore).
23 Oct 2023
Stock MarketSensex tanks over 825 points, Nifty settles below 19,300 mark
On Monday, the benchmark Sensex and Nifty indices witnessed a fall.
23 Oct 2023
Adani GroupAdani Total Gas stock down 85%, reaches Hindenburg's predicted valuation
Nine months after Hindenburg Research, the US short-seller, forewarned of an 85% decline in Adani shares, Adani Total Gas Ltd. has reached that level, making it the first company among the conglomerate's seven listed entities to experience such a major devaluation.
23 Oct 2023
Monetary Policy CommitteeRBI may lower rates in future despite 4% inflation target
The Monetary Policy Committee (MPC) has reaffirmed its commitment to a 4% retail inflation target, as inflation has returned to the 2%-6% comfort range.
23 Oct 2023
VedantaVedanta's stock slips over 2% amid CFO's resignation reports
Vedanta's shares dipped over 2% in early trade on October 23 following a Bloomberg report that said the company's Chief Financial Officer (CFO), Sonal Shrivastava, may step down just months after joining the firm in June.
23 Oct 2023
CryptocurrencyCryptocurrency prices: Today's rates of Bitcoin, Ethereum, Dogecoin, Tether
Bitcoin has climbed 2.38% in the past 24 hours, and is trading at $30,685.43. It is 12.50% higher than last week.
23 Oct 2023
ChinaiPhone-maker Foxconn under investigation by Chinese authorities, stock plummets
Foxconn, Apple's primary iPhone assembler, saw its share's value decline by 3.4% on October 23.
22 Oct 2023
CryptocurrencyCryptocurrency prices today: Check rates of Bitcoin, Solana, BNB, Tether
Bitcoin has climbed 1.28% in the past 24 hours and is currently trading at $29,975.78. It is 11.51% higher than last week.
21 Oct 2023
CryptocurrencyCryptocurrency prices today: Check rates of Bitcoin, Dogecoin, BNB, Tether
Bitcoin has climbed 0.95% in the past 24 hours to trade at $29,576.06. Compared to last week, it is up by 9.89%.
20 Oct 2023
FintechPaytm's Q2 revenue jumps 32% YoY to over Rs. 2,500cr
One97 Communications, the parent company of India's leading fintech giant Paytm, has reported a 32% year-over-year surge in its revenue for the second quarter of the fiscal year 2023-24 (Q2 FY24), reaching Rs. 2,518.6 crore.
20 Oct 2023
RBL BankRBL Bank launches zero-balance GO Savings Account: Check benefits
RBL Bank has unveiled its newest digital banking offering, the GO Savings Account. This zero-balance account provides a simple account opening process and user-friendly features, appealing to customers across all age groups.
20 Oct 2023
Stock MarketJSW Steel reports Rs. 2,773cr profit on strong domestic demand
JSW Steel posted a consolidated net profit of Rs. 2,773 crore for the September quarter, a major turnaround from a net loss of Rs. 848 crore during the same period last year.
20 Oct 2023
CIPLATorrent secures funding to buy 33% stake in Cipla
Torrent Pharmaceuticals Ltd. is reportedly eyeing a 33% stake in Mumbai-based drugmaker Cipla, having secured at least $5 billion in funding from a group of overseas banks.
20 Oct 2023
Reserve Bank Of India (RBI)RBI approves Kotak Mahindra Bank's acquisition of Sonata Finance
The Reserve Bank of India (RBI) has finally given the green light to Kotak Mahindra Bank's acquisition of Sonata Finance Pvt Ltd and its transformation into a business correspondent subsidiary, the private lender said in an exchange filing on October 20.
20 Oct 2023
Mutual FundsZerodha Mutual Fund introduces new open-ended scheme: How it works
Zerodha Mutual Fund has unveiled the Zerodha Nifty LargeMidcap 250 Index Fund, an open-ended plan designed to mirror and follow the Nifty's LargeMidcap 250 Index.
20 Oct 2023
iPhone1.5mn iPhones sold in first week of India's festive sales
According to a Counterpoint Research report, during the first week of festive season sales from October 8 to 15, Apple sold more than 1.5 million iPhones in India on e-commerce platforms Amazon and Flipkart, marking the first time they achieved this milestone.
20 Oct 2023
Reserve Bank Of India (RBI)Interest rate will remain high for now: RBI Governor
At the Kautilya Economic Conclave 2023, Reserve Bank of India (RBI) Governor Shaktikanta Das announced that interest rates will stay high for now, without giving a specific timeline for a decrease.
20 Oct 2023
Stock MarketNifty, Sensex decline for 3rd consecutive session: Here's why
India's domestic equity benchmarks, Nifty and Sensex saw a drop for the third day in a row today (October 20).
20 Oct 2023
Stock MarketSensex slips over 230 points, Nifty settles above 19,540 mark
On Friday, the benchmark Sensex and Nifty indices witnessed a massive slump.
20 Oct 2023
Reserve Bank Of India (RBI)Maintaining disinflationary monetary policy a must: RBI Governor
At the recent Kautilya Economic Conclave 2023, Reserve Bank of India (RBI) Governor Shaktikanta Das emphasized that the monetary policy must remain actively disinflationary to ensure that the decline in inflation from its peak of 7.44% in July continues smoothly.
20 Oct 2023
DelhiIndia's biggest city gas stock plummets over 12%: Here's why
Indraprastha Gas Ltd. (IGL), India's biggest city gas distributor by revenue, saw its shares plummet over 12% after Delhi announced a new policy on electric vehicles (EV).
20 Oct 2023
IndiaWork on Bharat Semiconductor Research Centre to start in 2024
The Indian government is gearing up to kick off the Bharat Semiconductor Research Centre (BSRC) project in 2024.
20 Oct 2023
ChinaDistressed property developer China Evergrande to revise its restructuring plan
China Evergrande Group is tweaking the terms of its proposed offshore debt restructuring deal to better suit the company's current predicament and meet creditors' demands.
20 Oct 2023
Elon MuskElon Musk announces new subscription tiers for X Premium
Elon Musk has announced the launch of two new subscription tiers for his social media X's Premium service. Musk's announcement has stirred excitement and speculation among X users and the tech community at large.
20 Oct 2023
ZomatoSoftBank likely offloads Zomato shares worth Rs. 1,040cr
On October 20, online food delivery titan Zomato saw its shares climb over 2.5%, hitting the day's high of Rs. 114.50 apiece on NSE.
20 Oct 2023
Adani GroupAdani Group closes in on $3.5bn loan to restructure debt
The Adani Group is on the verge of securing a massive $3.5 billion (around Rs. 29,110 crore) loan to refinance its existing debt from the acquisition of Ambuja Cements Ltd.
20 Oct 2023
CryptocurrencyToday's cryptocurrency prices: Check rates of Bitcoin, Ethereum, Dogecoin, Tether
Bitcoin has surged 3.3% in the past 24 hours to trade at $29,218.50. It is 9.08% up compared to last week.
20 Oct 2023
RussiaIndia rejects Russia's demands to pay for oil in yuan
India is pushing back against Russian oil suppliers' demands to pay for crude imports in Chinese yuan, as tensions between New Delhi and Beijing continue.
20 Oct 2023
ChinaChina restricts export of graphite products required for EV batteries
China's commerce ministry has announced that starting December 1, export permits will be needed for specific graphite products to safeguard national security.
20 Oct 2023
FinanceCredit Suisse to trim workforce by 10% soon: Report
UBS Group AG is gearing up for another round of job cuts at Credit Suisse, with about 10% of support staff in compliance, risk, and marketing roles on the chopping block.
20 Oct 2023
BYJU'SBYJU'S founder in talks to sell controlling stake in Aakash
BYJU'S CEO Byju Raveendran, is in talks with private equity firms like Bain Capital and KKR about selling a controlling stake in Aakash Educational Services Ltd (AESL), the Economic Times has reported.
