MUMBAI: In one of the biggest block deals this year, Indian Continent Investment, a promoter group entity of Bharti Airtel is selling a 0.8% stake in the telecom giant for about Rs 9,310 crore (over $1 billion). The deal is set to be executed through one or more block deals on Friday and is managed…
MUMBAI: RBI has granted its first universal bank approval in a decade, giving AU Small Finance Bank (SFB) in-principle approval to transition from an SFB to a universal bank-the first such nod since Bandhan and IDFC in 2015.Founded in 1996 by Sanjay Agarwal as AU Financiers, an NBFC in Jaipur, AU became an SFB in…
BENGALURU: Titan Company reported a 52.5% year-on-year increase in net profit to Rs 1,091 crore for June quarter, backed by strong performances in jewellery and watches businesses, despite elevated gold prices. The Tata group firm’s revenue rose 24% to Rs 16,628 crore in the same period. Sequentially, it rose to about 11% from Rs 15,032…
HYDERABAD: Unending tariff wars coupled with weaker-than-expected US macroeconomic data and a depreciating rupee, fuelled gold’s rise to record highs in the Indian market on Thursday. The yellow metal crossed the Rs 1.02 lakh/10 gm mark to hit a high of Rs 1,02,155 on MCX and was quoting at all-time highs of Rs 1,02,700 and…
MUMBAI/NEW DELHI:: After a knee-jerk reaction to US President Donald Trump’s latest tantrums related to tariffs on Indian exports to the world’s largest economy, late buying helped Dalal Street close slightly higher, indicating low impact of the tariffs’ effects on domestic stocks and investments. After sliding over 700 points, sensex recovered all its lost ground…
Asia’s richest man Mukesh Ambani has once again chosen to draw no salary from Reliance Industries, the oil-to-telecom-to-retail giant he heads, for the fifth consecutive year. Instead, dividend payouts remain his primary source of income, according to a PTI report.According to the latest annual report of Reliance Industries, Ambani, 68, received ‘nil’ salary, allowances, perquisites,…
Shares of Intel tumbled down on Thursday after US President Donald Trump called for the company’s chief executive to resign, citing alleged conflicts of interest involving ties to China.The INTC was trading at $19.77, down 0.6 points or 3.1% at 10:53 PM IST.“The CEO of Intel is highly CONFLICTED and must resign, immediately,” Trump wrote…
File photo: Ex-Niti Aayog CEO Amitabh Kant (Picture credit: PTI) Former G20 Sherpa and ex-Niti Aayog CEO Amitabh Kant has called the steep hike in US tariffs on Indian goods a “once in a generation opportunity” for India to push forward with long-pending economic reforms.Reacting to US President Donald Trump’s decision to double duties on…
Bank of England (Picture credit: AP) The Bank of England on Thursday trimmed its key interest rate by 25 basis points to 4 per cent, marking the fifth reduction since August 2024, as it seeks to support Britain’s slowing economy amid concerns over rising US tariffs and domestic tax hikes.The latest cut brings borrowing costs…
NEW DELHI: Biocon on Thursday reported a 95 per cent decrease in its consolidated net profit at Rs 31 crore in the June quarter. The Bengaluru-based firm posted a net profit of Rs 660 crore in the April-June quarter of the last fiscal. Total revenue declined to Rs 4,022 crore in the June quarter as…
