Posts in category Economic Times
SBI increases deposit rates by 25-75 points (16-05-2024)
Banks adjust deposit rates according to their asset and liability positions and demands for funds in specific tenures. This is the first increase by SBI in deposit rates since December 2023. - Our Bureau
Bain+Temasek adds spice to Haldiram snacks party (16-05-2024)
The Bain and Temasek combination submitted a non-binding offer late last week valuing India’s largest snack and convenience foods company at $8-8.5 billion (Rs 66,400-70,500 crore), after initially engaging with the founding family of the 87-yearold brand separately, said people aware of the matter.
Cipla promoters sell 2.53% stake for Rs 2,751 crore (15-05-2024)
"Post transaction, the entire promoter group, including persons acting in concert, continues to hold 31.67% in the company and remains committed to the future of Cipla," the company said in a statement.
Apurva Sahijwani joins Avendus Wealth as MD and CEO (15-05-2024)
Avendus Wealth Management has named Apurva Sahijwani as its new managing director and CEO. Sahijwani, with extensive experience in the financial sector, will oversee the wealth team and utilize Avendus's platform to offer comprehensive advice to clients. Previously, he led Burgundy Private at Axis Bank and held various managerial roles at Kotak Wealth, ICICI Bank, HSBC, and Citibank.
Nepalese citizens’ plea puts I-T in dock for invoking Black Money Act (15-05-2024)
Two Nepalese citizens have challenged the Indian Income Tax Department's invocation of the Black Money Act against them, arguing that they are tax residents of Nepal, not India. The case raises questions about how the law applies to foreigners from countries with double tax avoidance treaties with India. Specifically, the case highlights issues concerning Nepal, where citizens can move freely in and out of India without passports due to a "Treaty of Friendship" between the two countries.
Dixon Technologies Q4 Results: Net profit rises 20% YoY to Rs 97 crore (15-05-2024)
The electronics manufacturer has over two dozen production facilities across the country. Dixon makes smartphones and feature phones for brands such as Xiaomi, Motorola, Samsung and Jio, and is in talks with other global brands for more manufacturing orders.
Technical Breakout Stocks: How to trade Thermax, Siemens and Adani Power on Thursday (15-05-2024)
Sensex fell over 100 points while the Nifty50 managed to hold on to 22,200 levels. Sectorally, buying was seen in the public sector, power, and capital goods stocks while banks, auto and FMCG stocks faced selling pressure.
Ahead of Market: 10 things that will decide D-Street action on Thursday (15-05-2024)
Sensex, Nifty snapped a 3-day winning run on Wednesday, dragged by HDFC Bank and consumer stocks. Seven of the 13 major sectors declined. Tata Motors, Coal India and Tata Motors were among most active stocks in volume terms. Nifty formed a high wave type candle on the daily chart.
Oil prices slide 1% to 11-week low on weaker IEA 2024 demand forecast (15-05-2024)
Crude prices slid about 1% to an 11-week low on Wednesday after data from the International Energy Agency (IEA) showed oil demand in developed countries likely would flag this year.
LIC Housing Finance Q4 Results: Net profit falls over 7% YoY to Rs 1,091 crore (15-05-2024)
The net profit in the year-ago period was Rs 1,180 crore. The company's board recommended a 450% dividend for FY24. In other words, shareholders would get Rs 9 per equity share of Rs 2 each, subject to their approval.