Economy Archives - Page 4 of 5 -

04 May

NSE Q4 results: Profit growth 20% to Rs 2,488 Crore

Priyanka Roy0 CommentsBusiness, Economy, India

The National Stock Exchange (NSE) on Friday reported : 20% year-on-year rise in consolidated net profit at Rs 2,488 Crore for the three months ending March 2024. NSE said in a statement that consolidated operating revenue in the January-March quarter of financial year 2023-24 stood at Rs 4,625 Crore, showing a growth of 34% year-on-year. Apart from trading, the exchange said the total profit was also supported by other revenue lines as well as listing, index services, data services and co-location facility. The NSE board has optional a dividend of Rs 90 per share (pre-bonus) for the financial year ending 2023-24, which…

03 May

Share of Russian crude in India’s imports jump to nearly 40% in April

Priyanka Roy0 CommentsBusiness, Economy, India

Russia increased its share of Indian crude imports from 30% in March to nearly 40% in April, closing at its all-time peak of 42% last July, as higher global oil prices forced Indian refiners to seek concessional Russian oil, inspired to increase barrel intake to reduce their average crude oil purchasing cost. Indian refiners imported 1.78 million barrels per day (mb/d) of crude oil from Russia in April, up 19% from March, according to energy cargo tracker Vortexa.

02 May

Adani Ports Q4 net profit progress 77% to Rs 2,014 crore

Priyanka Roy0 CommentsBusiness, Economy

Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday reported a 76.87% rise in consolidated net profit at Rs 2,014.77 crore for the fourth quarter ended March 2024. The country's largest integrated logistics company had posted a profit of Rs 1,139.07 crore in the corresponding period of the previous financial year, the company said in a BSE filing. Its consolidated total income rose to Rs 7,199.94 crore in Q4FY24 from Rs 6,178.35 crore in the year-ago period. Total expenses also increased to Rs 4,450.52 crore in the quarter under review from Rs 3,995 crore a year ago.

01 May

RBI updates guidance note for banks, NBFCs

Priyanka Roy0 CommentsBusiness, Economy, Finance

The Reserve Bank of India (RBI) has updated its "Guidance Note" on operational risk management for the financial sector, and extended it to non-banking financial companies (NBFCs), including housing finance companies. Only commercial banks were included in the 2005 'Guidance Note on Operational Risk Management'.RBI said all regulated entities (REs) in India should implement robust information and communications technology (ICT) risk management program in line with their operational risk management framework. "RES should manage their reliance on relationships for the delivery of critical functions, but not limited to, third parties (including intragroup entities)," the Reserve Bank said in its guidance…

30 Apr

UltraTech Cement Q4 net profit grew by 35% to Rs 2,260 Crore

Priyanka Roy0 CommentsBusiness, Economy

UltraTech Cement Ltd on Monday reported 35.24% rise in consolidated net profit at Rs 2,258.58 Crore for the fourth quarter (Q 4) ended March 31, 2024. The foremost cement maker had posted a consolidated net profit of Rs 1,670.10 Crore in the January to March quarter. In the last financial year, according to a regulatory filing by UltraTech. Its revenue from operations increased by 9.41% to Rs 20,418.94 Crore during the period under review. It was Rs 18,662.38 Crore in the same period a year back. UltraTech's total expenses in the March quarter increased by 6.67% to Rs 17,381.09 Crore. The…

24 Apr

RBI action on Kotak Mahindra Bank; Bars are adding new customers through online, mobile banking and issuing new credit cards

Priyanka Roy0 CommentsBusiness, Economy

The RBI said the bank has been found lacking in its IT risk and information security governance for the years 2022 and 2023.The Reserve Bank of India (RBI) on Wednesday (April 24) directed Kotak Mahindra Bank to stop adding new customers through its online and mobile banking channels, and Also, issuance of new credit cards was banned with immediate effect.The RBI said the bank has been found lacking in its IT risk and information security governance for the years 2022 and 2023.

22 Apr

Reliance Jio Q4 results: Net profit rises 13% year-on-year to ₹5337 crore

Priyanka Roy0 CommentsBusiness, Economy, India

Reliance Jio Q4 results: Net profit rose 13% year-on-year to ₹5337 crore during the quarter ending March'2024. Sequentially, net profit growth during the December'2024 quarter was 2.47% lower at ₹5208 crore. Reliance Jio's revenue during the March quarter stood at ₹25959 crore, however, an increase of 10.96% compared to ₹23394 crore during the year-ago quarter. Still, on a sequential basis, revenue growth was marginal compared to ₹25,368 crore in the December quarter.

21 Apr

Developers spending double on premium housing as affordable launches stall

Priyanka Roy0 CommentsBusiness, Economy, India

With decreasing levels of inventory, there appears to be a bias towards the premium end of the market. The demand for larger housing in India's residential real estate sector is set to increase over the next decade, this is in line with a significant shift seen in the last five years, where there has been a staggering 1,000% increase in launches of high-end residential units priced above Rs 1.5 crore between 2019 and 2023. Meanwhile, new launches of units priced below Rs 75 lakh, including affordable housing, remained stable across the top seven cities in the country, while sales increased…

20 Apr

GMP feels that there will be more than 80 percent profit on this Rs 50 share on the first day

Priyanka Roy0 CommentsBusiness, Economy, Today

Greenhitech Ventures shares can make investors rich on the very first day. Shares of Greenhitech Ventures can make a profit of more than 80 percent on the day of listing. People have invested a lot of money on the IPO of the company. Greenhitech Ventures' IPO total has been subscribed more than 769 times. The price of shares of the company in IPO is Rs 50. At the same time, shares of Greenhitech Ventures are trading at a huge premium in the gray market. The Gray Market Premium (GMP) of the company's shares is indicating that people can make huge…

21 Mar

Government plans to roll out e-buses in all cities

editor0 CommentsEconomy

Minister of Road Transport and Highways Nitin Gadkari said that the government is planning to introduce electric buses in all Indian cities as well as buses for long routes. According to the sources, Gadkari stated that decline in battery prices will lead to travellers saving 30 per cent on fares and help bring down pollution. Further he added, "When this comes down to $100, the operating cost will be the same as that of petrol and diesel vehicles. If you spend Rs 20,000–25,000 on petrol vehicles in a month, you will incur only Rs 2,000 on electric vehicles."