Economy Archives - Page 3 of 5 -

22 May

Paytm Q4 results: Net loss rises to Rs 550 Crore after closure of banking unit

Priyanka Roy0 CommentsBusiness, Economy

Paytm's revenue from operations declined 2.8 percent year-on-year (YoY) to Rs 2,267.1 Crore from Rs 2,464.6 Crore in the same quarter of FY23.According to the company's regulatory filing, fintech firm One97 Communications Ltd, owner of Paytm, has widened its loss to Rs 550 Crore in Q4FY22. The company had incurred a consolidated loss of Rs 167.5 Crore in the same period a year ago.Paytm's revenue from operations declined 2.8 percent year-on-year (YoY) to Rs 2,267.1 Crore from Rs 2,464.6 Crore in the same quarter of FY23.However, the company's loss narrowed to Rs 1,422.4 Crore in FY24 compared to Rs 1,776.5…

21 May

Spices Board inspecting MDH, Everest plants; Efforts underway to upsurge compliance

Priyanka Roy0 CommentsBusiness, Economy

Data shared by the Ministry of Commerce and Industry on Monday showed that the maximum residue level (MRL) for EtO in Singapore was 50 mg/kg, while in the EU it was 0.02 to 0.01 mg/kg and in Japan it was 0.01.The Spices Board of India is carrying out inspections at several MDH and Everest processing plants in the country to ensure that spice exports meet the requirements of the respective export destination, senior government officials said on Monday, adding that they have also suggested corrective action such as the use of steam sterilization, Also added actions. The focus is on…

16 May

LIC get out 3 more years to sell stake up to 10%

Priyanka Roy0 CommentsBusiness, Economy

Mumbai: SEBI has extended the deadline for LIC to acquire 10% public shareholding by three years. The decision, which was communicated through a letter dated May 14, 2024, gives LIC time till May 16, 2027, to meet this requirement.LIC was listed on stock exchanges on May 17, 2022, following a Rs 21,000 Crore IPO, which resulted in the government's stake being reduced to 95%.Rule 19(2)(b)(iv) of the Securities Contracts (Regulation) Rules, 1957 requires that companies initially sell at least 5% of their shares to the public. Additionally, public shareholding will have to increase to at least 10% within two years…

15 May

Gold Rate Today: Price of 22 karat, 24 karat gold rise

Priyanka Roy0 CommentsBusiness, Economy

On Wednesday (May 15), MCX gold futures for June running out inch rose 0.13% to Rs 72,390 per 10 gram, while MCX silver futures for July expiry fell 0.04% to Rs 85,386.00 per kg.According to Good Returns, gold prices rise by Rs 40 to Rs 6,715 per gram for 22 karat gold and Rs 7,325 per gram for 24 karat gold (also known as 999 gold).

13 May

Promoters’ pledged stake plunge to 1.1% in March quarter: Report

Priyanka Roy0 CommentsBusiness, Economy

The percentage of promoters' pledged stake declined from 1.17% in the October-December 2023 quarter to 1.1% in the March 2024 quarter, a report by Kotak Institutional Securities said. In the last quarter of FY24, promoters of 73 companies in the BSE-500 index have pledged part of their stake and the value of pledged promoter holdings was Rs 1.96 lakh Crore or about 0.56% of the market capitalization of the total BSE-500 index. The report said that “Our analysis of pledged holdings of BSE-500 shares shows that the value of promoter (majority shareholder) pledged stake as a percentage of promoters holding…

10 May

Bank of Baroda’s Q4 profit grew up marginally to Rs 4,886 Crore

Priyanka Roy0 CommentsBusiness, Economy

On Friday State-owned Bank of Baroda reported: a marginal 2.3% grow in net profit to Rs 4,886 Crore for the Q4 ending March 2024.A year before, the bank had earned a net profit of Rs 4,775 Crore in the January-March quarter. Total income during the quarter under review increased to Rs 33,775 Crore from Rs 29,323 Crore in the same period last year, BoB said in a regulatory filing.Interest income increase to Rs 29,583 Crore during the latest 3 month period from Rs 25,857 Crore in the same quarter a year ago.In terms of asset quality, the bank's gross non-performing…

09 May

Tata Power Q4 results: Net profit rises 11% to Rs 1,046 Crore due to higher profits

Priyanka Roy0 CommentsBusiness, Economy

New Delhi: Tata Power on Wednesday reported 11% rise in its consolidated net profit in the March quarter to Rs 1,046 Crore compared to last year mainly due to higher profits. BSE filings showed consolidated profit stood at Rs 939 Crore for the quarter ending March 31, 2023. The company's total income in the quarter increased to Rs 16.464 Crore from Rs 13,325 Crore in the year-ago period. Consolidated net profit in fiscal 2023-24 rose to record Rs 4,280 Crore from Rs 3,810 Crore in the year-ago period, the company said in a statement. Total income will increase from Rs…

08 May

Gold rate today: Price of 22 carat, 24 carat gold falls

Priyanka Roy0 CommentsBusiness, Economy

Gold Price Today: Gold futures for June expiry on MCX closed 0.09 per cent or Rs 137 lower at Rs 71,083.00 per 10 gram on Wednesday (May 8), while silver futures for July expiry on MCX closed 0.11 per cent lower. Together it came to 82,783.00.According to PTI, analysts have attributed the fall in gold prices to weak global cues and profit-booking at higher levels.According to Good Returns, “gold prices declined by Rs 10 to Rs 6,625 per gram for 22 carat gold and Rs 7,227 per gram for 24-carat gold”.Check gold price in major cities:New Delhi: Today's gold price…

06 May

Paytm shares fall 5% after resignation of COO Bhavesh Gupta

Priyanka Roy0 CommentsBusiness, Economy

Shares of Paytm's parent company One97 Communications fell 5% on May 6, Monday. After Bhavesh Gupta, President and Chief Operating Officer of Paytm, resigned from the company. The stock of fintech businesses fell4.99 per cent to Rs351.70 to reach the lower circuit limit on BSE. It fell 5 percent to Rs351.40 on NSE. As a part of his responsibility, Gupta was handling the loan business, online and offline payments and compliance. The RBI ban on Paytm Payments Bank (PPBL) had an adverse impact on the raised he led. Gupta has now come into the part of advisor. Paytm talked that…

05 May

Air India has reduces the cabin baggage allowance for the minimum fare segment to 15 kg

Priyanka Roy0 CommentsBusiness, Economy

Loss-making Air India has reduced the free cabin baggage allowance for the lowest economy fare segment on domestic flights from 20 kg to 15 kg. The changes have been made to fare families, a menu-based pricing model introduced by Tata Group-owned Air India last August. The airline has said that a one-size-fits-all approach is no longer ideal. An airline spokesperson said on Saturday that there are three fare families – Comfort, Comfort Plus and Flex – which offer different levels of benefits and fare restrictions at different price points. From May 2, the free cabin luggage allowance for 'Comfort' and…