SEBI probes 2 funds for shorting Adani stocks before Hindenburg
New Delhi, April 24 - Adani Group stocks remained steady on Wednesday after the Securities and Exchange Board of India (SEBI) initiated a probe against two foreign portfolio investors, including one accused of allegedly shorting stocks in Adani Group companies prior to a
Financial services platform Northern Arc secures $80 mn funding from IFC
New Delhi, April 24 - Financial services platform Northern Arc on Wednesday said that it secured $80 million in funding from the International Finance Corporation (IFC), a member of the World Bank Group.
7 per cent job surge for fresh graduates in India’s manufacturing sector: Report
New Delhi, April 24 - India's manufacturing industry's intent to hire fresh graduates has jumped to 48 per cent in the first half (January-June) of 2024, an increase of seven per cent from 41 per cent in July-December 2023, a new report showed
Axis Bank clocks net profit of Rs 7,130 crore for Jan-March quarter
Mumbai, April 24 - Axis Bank on Wednesday reported a net profit of Rs 7,130 crore for the January-March quarter of 2023-24 compared to a loss of Rs 5,762 crore in the same quarter last year after it acquired Citi Bank's consumer business
Qualcomm expands Snapdragon portfolio with new platform to power AI PCs
New Delhi, April 24 - Chip-maker Qualcomm on Wednesday expanded its Snapdragon X Series portfolio with a new platform to deliver better performance, longer battery life and on-device AI capabilities for more Windows PCs.
UK begins probe into AI partnerships by Microsoft, Amazon
London, April 24 - The UK's Competition and Markets Authority (CMA) on Wednesday launched a preliminary probe into partnerships between tech giants over artificial intelligence (AI), like Microsoft and Mistral AI, and Amazon and Anthropic.
RBI issues red alert on illegal entities in forex market
Mumbai, April 24 - The Reserve Bank of India (RBI) on Wednesday issued an alert against unauthorised entities offering foreign exchange (forex) trading facilities to Indian residents with promises of exorbitant returns.
Indian IT services sector to see 2nd-consecutive year of muted revenue growth: Report
New Delhi, April 24 - The IT services sector in India is likely to see a second-successive year of muted revenue growth, at 5-7 per cent in FY25, amid continuing global macroeconomic headwinds, a report showed on Wednesday.
Ultraviolette launches e-motorcycle ‘F77 Mach 2’ at Rs 2.99 lakh
New Delhi, April 24 - Electric vehicle (EV) company Ultraviolette on Wednesday launched a new e-motorcycle -- the F77 Mach 2 -- at a starting price of Rs 2,99,000.
REC okays Rs 1,869 crore loan for Kiru hydro project in J&K
Gurugram, April 24 - REC Limited, a Maharatna public sector company and a leading NBFC, has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL) for providing a term loan of Rs 1,869.26 crore.
HUL posts 6 pc fall in Q4 net profit at Rs 2,406 crore, declares dividend of Rs 24 per share
Mumbai, April 24 - Fast-moving consumer goods (FMCG) giant Hindustan Unilever Ltd (HUL) on Wednesday reported a 6 per cent decline in net profit to Rs 2,406 crore for the January-March quarter from Rs 2,552 crore in the same period of the previous
RBI bars Kotak Mahindra Bank from onboarding new customers online, issuing fresh credit cards
Mumbai, April 24 - The Reserve Bank of India (RBI) on Wednesday directed Kotak Mahindra Bank Limited to stop onboarding of new customers through its online and mobile banking with immediate effect and also barred the bank from issuing fresh credit cards.
Sweden jobless rate rises to 9.2 pc, highest in nine months
Stockholm, April 24 - The Swedish unemployment rate increased in March to the highest level in nine months, figures from Statistics Sweden showed on Wednesday
91 pc of Indian firms will use half or more data to train AI models in 2024: Report
New Delhi, April 24 - About 91 per cent of Indian companies will use half or more of their data to train artificial intelligence (AI) models in 2024, a new report said on Wednesday.
Metal, PSU stocks lead market gains
Mumbai, April 24 - Metal stocks are the top sectoral gainers in trade while PSU stocks also posted strong gains on Wednesday.
PM Modi has lifted 400 million people out of poverty: JP Morgan CEO
New Delhi, April 24 - Prime Minister Narendra Modi has taken 400 million (40 crore) people out of poverty and is doing an “unbelievable job” in India, Global banking giant JP Morgan Chase chief executive officer (CEO) Jamie Dimon has said.
India saw 455 deals worth $25.6 bn in 1st quarter this year: Report
New Delhi, April 24 - India saw 455 deals worth $25.6 billion in the first quarter this year, a 24 per cent rise in deal volume as compared to the last quarter (Q4) of 2023, a report showed on Wednesday
India to become one of biggest chip hubs in next 5 years: Ashwini Vaishnaw
New Delhi, April 24 - India has commissioned four semiconductor manufacturing units and in the next five years, the country will become one of the biggest semiconductor hubs in the world, Union Railways and IT Minister Ashwini Vaishnaw has said.
Samsung, Hyundai Motor, LG, SK hynix see combined operating profit plunge 65 pc
Seoul, April 24 - Four major conglomerates saw their combined operating profit plunge 65 per cent last year, hit by sluggish sales amid an economic slowdown, a report showed on Wednesday.
Musk’s X takes on YouTube, to launch dedicated TV app for videos soon
New Delhi, April 24 - Taking on Google-owned YouTube, X social media platform will soon launch a dedicated TV app for users to upload high-quality videos, its CEO Linda Yaccarino has announced.