BUSINESS
LIC Reports Net Profit of ₹7,621 Crore for July-September Quarter
For the quarter under review, net premium income increased by 11 percent to Rs 1.19 lakh crore against Rs 1.07 lakh crore for the same period in the previous year.
Swiggy's IPO Oversubscribed 3.59 Times on Final Day
The Swiggy IPO was subscribed 0.35 times and 0.12 times on the issue's second and first day, respectively. The qualified institutional buyers' QIBs reserve portion saw a subscription of 6.02 times; non-institutional investors NIIs portion witnessed a subscription of 0.41 times; while the retail individual investors RIIs portion subscribed at 1.14 times, and employee portion witnessed a subscription of 1.65 times.
India's Forex Reserves Reach $684.8 Billion, Gold Reserves Increase by $1.2 Billion
Gold reserves, though, part of the country's forex kitty and monitored by the central bank, increased by $1.2 billion during the week to $69.8 billion.
Indian Stock Market Opens Flat Following US Fed Rate Cut
The market trend remained in red. On NSE, as many as 746 stocks traded in the green zone, whereas 1463 traded in the red zone.
US Fed Cuts Interest Rates by 25 Basis Points Amid Weakening Labor Market
Since earlier in the year, labor market conditions have eased on net, and the unemployment rate has continued to edge up but remains low. Inflation moved somewhat closer to the Committee's 2 per cent objective but remains somewhat elevated, the Federal Open Market Committee said on Thursday in a statement.
ArcelorMittal Reports 69% Drop in Net Income to USD 287 Million in September Quarter
ArcelorMittal follows the January-December calendar as the financial year.
Jyotiraditya Scindia Rejects Spectrum Auction Proposal from Ambani and Mittal
"Every country has to follow the International Telecommunications Union, which is the organisation that lays out the policy for spectrum in space or satellites, and the ITU has been very clear in terms of the spectrum being given out on an assignment basis. In addition, if you look across the world today, I cannot think of a single country that auctions spectrum for satellite," Scindia said.
SC Orders Liquidation of Jet Airways
A Bench led by CJI, D.Y. Chandrachud allowed the plea from lenders against the passing of ownership of the grounded airline to Jalan Kalrock Consortium (JKC).
ED Raids Multiple Sellers Linked to E-Commerce Giants Amazon and Flipkart
According to reports, the ED is conducting a pan-India search against subsidiaries and sellers of leading e-commerce players. So far, it is said that the regulator is raiding nearly 24 seller locations in cities such as Delhi, Mumbai, Hyderabad, and Bengaluru.
India’s Domestic Air Passenger Traffic Rises by 6.3% to 13.85 Million in October
Year-on-year growth for October domestic air passenger traffic was at 9.6% and quite significantly higher by 12.8% compared with pre-Covid levels of 122.8 lakh in October 2019, data by credit rating ICRA showed.
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