BUSINESS
Wipro announces Rs 2,667 crore consolidated net profits for Q2
The revenue from operations in the second quarter of the current fiscal stood at Rs 22,515 crores.
Nifty under selling pressure as conflict intensifies in Middle East
Nifty opened flat but soon drifted into red and closed near day's low at 19671 levels with loss of 140 points (-0.7 per cent).
Cabinet approves up to 9% hike in MSP of wheat, other major Rabi crops
The absolute highest increase in MSP has been approved for lentil (masur) at Rs 425 per quintal followed by rapeseed and mustard at Rs 200 per quintal.
PM Modi to inaugurate Delhi-Ghaziabad-Meerut RRTS corridor, 2 stretches of B'luru metro on Oct 20
He will also flag off the RapidX train connecting Sahibabad to Duhai Depot, marking the launch of RRTS in India.
Alphabet’s Waymo lays off more employees, 3rd time this year
The fresh layoffs are part of an internal reorganisation process, a company spokesperson told The San Francisco Standard, without revealing the exact number of affected employees.“A small number of Waymo teams recently made adjustments to their teams as part of normal course of business,” the spokesperson said.
Financials lead Sensex down
"While hoping that things won’t get worse let us look at the broad trends. In spite of the tragic geopolitical developments, globally markets are resilient. There are two main reasons for this. One, the US economy continues to be strong and this is supporting the mother market and thereby other markets, too. Two, the market view is that the Fed (Federal Reserve) will succeed in soft landing the US economy and avert a recession," he added.
ONGC, OIL to gain as govt cuts windfall tax on crude oil
The windfall tax on petroleum crude was raised to Rs 12,100 a ton from Rs 10,000 with effect from September 30 as oil prices at the time had soared to $95 a barrel. Oil prices came down but have started heading north again in the wake of the Israel-Hamas conflict.
CCI okays IDFC's merger with IDFC First Bank
"The CCI vide its letter dated October 17, 2023 has communicated that it has considered and approved the combination under Green Channel Route," IDFC said in a regulatory filing with the stock exchange. The proposal for the merger was approved by the board of directors of IDFC and IDFC First Bank on July 3.
RBI slaps Rs 12 cr fine on ICICI Bank, Rs 3.85 cr penalty on Kotak Mahindra Bank
"The penalty on ICICI Bank was imposed for contravention of sub-section (1) of Section 20 of the Banking Regulation Act, 1949 (the BR Act) read with directions issued by RBI on 'Loans and Advances-Statutory and Other restrictions', sub-section (2) of Section 6 and Section 8 of the BR Act read with directions issued by the RBI on ‘Financial Services provided by the Banks’, and non-compliance with the RBI directions on ‘Frauds classification and reporting by commercial banks and select Fls," the RBI said.
Bajaj Finance to acquire 26% stake in Pennant Technologies for Rs.267.50 crore
The company also said it closed the second quarter of FY24 with a net profit of Rs 3,105.75 crore.
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