Posts tagged Rediff
Forex reserve jumps by $9.70 bn to record $666.85 bn (19-07-2024)
India's forex reserves jumped by $9.7 billion to an all-time high of $666.85 billion for the week ended July 12, the RBI said on Friday. In the previous reporting week, the kitty had increased by $5.16 billion to $657.16 billion, surpassing the previous high of $655.82 billion for the week ended June 7.
Wipro’s Q1 net profit rises 4.6%; revenue falls 3.8% (19-07-2024)
IT major Wipro on Friday posted a 4.6 per cent year-on-year rise in its consolidated net profit for the June quarter at Rs 3,003.2 crore. The Q1 FY25 revenue of the Bengaluru-headquartered firm, however, fell 3.8 per cent to Rs 21,963.8 crore.
Sensex tanks 739 points to settle below 81K (19-07-2024)
Among the Sensex pack, Tata Steel tumbled over 5 per cent while JSW Steel tanked nearly 5 per cent. Tata Motors, NTPC, UltraTech Cement, Tech Mahindra, Bajaj Finance, Power Grid, Mahindra and Mahindra, and Reliance Industries were the other major laggards.
Paytm Apr-Jun quarter loss widens to Rs 840 cr (19-07-2024)
Fintech firm One97 Communications, which owns Paytm brand, on Friday said its loss has widened to Rs 840 crore in the quarter ended June 30, primarily due to continued impact of restrictions on Paytm Payments Bank Ltd. The company had posted a loss of Rs 358.4 crore in the same period a year ago, according to a regulatory filing by the company. The consolidated revenue of Paytm declined 33.48 per cent to Rs 1,639.1 crore during the reported quarter, from Rs 2,464.2 crore in the same period a year ago.
Hundreds of flights cancelled as outage hits airports (19-07-2024)
Airports across the country witnessed chaotic scenes on Friday after dozens of flights were either delayed or cancelled after a widespread global computer outage that also hit operations like cash withdrawal at some banks, and impacted functioning of some brokerages. Globally, the Microsoft cloud outage led to US airlines cancelling flights, but the tech giant later reportedly said its cloud services outage in the Central US region has been resolved.
Area for critical minerals mining expanded (19-07-2024)
The Centre has increased the area granted to individual players by more than four fold in order to boost mining of critical minerals. Issuing an order on Tuesday, the government said, for mining leases, the area has been expanded from the current limit of 10 sq km to 50 sq km. For prospecting licences (granted in the case of composite licence), the limit has been increased from 25 sq km to 100 sq km.
Robust FY25 outlook to sustain Marico gains (19-07-2024)
From its recent lows, the stock of consumer major Marico is up 7 per cent on the back of a better-than-expected June quarter performance and robust outlook. In a pre-quarter update, the management indicated that domestic volume growth should witness an improvement in FY25, while other segments (growth portfolio, international business) too would see traction going ahead. The near-term trigger is strong sales and operating performance for Q1FY25.
Nirmalaji’s Chance To Revisit Fiscal Math (19-07-2024)
Whether she will pare the fiscal deficit target of 5.1 per cent of GDP, using the record dividend received from the RBI, or expand flagship government programmes will be keenly watched.
‘Banks must be prepared for providing UPI credit’ (19-07-2024)
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
Can Freedom 125 Disrupt 2-Wheeler Market? (19-07-2024)
'They are testing the waters to see if there is a market. That is why they are not giving sales targets.'