-->

Ad Unit (Iklan) BIG

Home  ›  Uncategorized

IndiaTV Business: Google News Feed: Digest for January 12, 2024

IndiaTV Business: Google News Feed

IndiaTV: Business RSS Feed

Table of Contents

The BSE Sensex rose by 30.99 points to end Tuesday's trading session at 71,386.21, while the Nifty index climbed by 31.85 points to settle at 21,544.85.
White collar hiring in India witnessed a 16 per cent decline in December compared to the year-ago period due to cautious hiring sentiments in the IT, BPO, education, retail, and healthcare sectors, a report said on Tuesday.
The Directorate General of Civil Aviation (DGCA) said on Tuesday that 40 Boeing 737 Max planes of domestic carriers have been inspected for possible loose hardware, and a washer was missing in one aircraft where rectification was done. Akasa Air, Air India Express, and SpiceJet collectively operate 40 Boeing 737 Max planes within their fleets.

India, Sri Lanka discuss UPI payment system's early launch

Tuesday 09 January 2024 05:24 PM UTC+00
Six months after it was announced by the heads of both countries, India has discussed the early launch of the UPI payment system with Sri Lanka and reiterated its support in the cash-strapped island nation's debt restructuring process.
Stock markets update: After three consecutive days of positive rally, the stock markets of Wednesday once again opened in red amid weak global clues. The 30-share BSE Sensex dropped 81.35 points to 71,304.86 in early trade. Meanwhile, the Nifty fell by 27 points to 21,517.85. 
The Adani Group revealed its plans to invest a massive sum of Rs 2 lakh crore in Gujarat in the field of green energy and renewable sectors over the next five years. Speaking at the Vibrant Gujarat Summit 2024, Adani Group chairman Gautam Adani said that the investment would help in generating over 1 lakh direct and indirect jobs. 
Prime Minister Narendra Modi Vibrant Gujarat Global Summit 2024 in Gandhinagar said that it is the responsibility of the government that India should be a developed nation by 2047. On Tuesday, a bilateral meeting was held between Prime Minister Narendra Modi and United Arab Emirates President Mohamed bin Zayed Al Nahyan where several MoUs were signed. The UAE president is the chief guest at the 10th edition of the Vibrant Gujarat Global Summit (VGGS) which will be inaugurated by PM Modi at Mahatma Mandir Convention Centre in Gandhinagar on Wednesday. UPDATES
Ram temple inauguration: Radisson Hotel Group on Wednesday announced the opening of its new hotel in Ayodhya, ahead of the inauguration of Ram Temple in the city on January 22. With the inauguration of the temple expected to stimulate religious tourism, hotel chains are strategically increasing their focus on the destination in anticipation of a surge in demand.
In a remarkable turnaround, the Indian equity benchmarks, Sensex and Nifty, experienced a late surge, closing higher on Wednesday, bolstered by robust buying in key players like Reliance Industries (RIL), ICICI Bank, and HDFC Bank. Despite a subdued start, the BSE benchmark witnessed fluctuations between gains and losses before concluding 271.50 points, or 0.38%, higher at 71,657.71. The index fluctuated between a low of 71,110.98 and a high of 71,733.84 during the trading session. The Nifty also saw an upswing, gaining 73.85 points, or 0.34%, and settling at 21,618.70.
SpiceJet CEO Ajay Singh on Wednesday said his airline will soon start flights to Lakshadweep and Ayodhya. "SpiceJet will soon launch flights to Lakshadweep as well as to Ayodhya," said Singh asserting the latest fund infusion will help the airline become more stronger.
The BSE Sensex rose by 30.99 points to end Tuesday's trading session at 71,386.21, while the Nifty index climbed by 31.85 points to settle at 21,544.85.
White collar hiring in India witnessed a 16 per cent decline in December compared to the year-ago period due to cautious hiring sentiments in the IT, BPO, education, retail, and healthcare sectors, a report said on Tuesday.

India, Sri Lanka discuss UPI payment system's early launch

Tuesday 09 January 2024 05:24 PM UTC+00
Six months after it was announced by the heads of both countries, India has discussed the early launch of the UPI payment system with Sri Lanka and reiterated its support in the cash-strapped island nation's debt restructuring process.
Stock markets update: After three consecutive days of positive rally, the stock markets of Wednesday once again opened in red amid weak global clues. The 30-share BSE Sensex dropped 81.35 points to 71,304.86 in early trade. Meanwhile, the Nifty fell by 27 points to 21,517.85. 
The Adani Group revealed its plans to invest a massive sum of Rs 2 lakh crore in Gujarat in the field of green energy and renewable sectors over the next five years. Speaking at the Vibrant Gujarat Summit 2024, Adani Group chairman Gautam Adani said that the investment would help in generating over 1 lakh direct and indirect jobs. 
Prime Minister Narendra Modi Vibrant Gujarat Global Summit 2024 in Gandhinagar said that it is the responsibility of the government that India should be a developed nation by 2047. On Tuesday, a bilateral meeting was held between Prime Minister Narendra Modi and United Arab Emirates President Mohamed bin Zayed Al Nahyan where several MoUs were signed. The UAE president is the chief guest at the 10th edition of the Vibrant Gujarat Global Summit (VGGS) which will be inaugurated by PM Modi at Mahatma Mandir Convention Centre in Gandhinagar on Wednesday. UPDATES
Ram temple inauguration: Radisson Hotel Group on Wednesday announced the opening of its new hotel in Ayodhya, ahead of the inauguration of Ram Temple in the city on January 22. With the inauguration of the temple expected to stimulate religious tourism, hotel chains are strategically increasing their focus on the destination in anticipation of a surge in demand.
In a remarkable turnaround, the Indian equity benchmarks, Sensex and Nifty, experienced a late surge, closing higher on Wednesday, bolstered by robust buying in key players like Reliance Industries (RIL), ICICI Bank, and HDFC Bank. Despite a subdued start, the BSE benchmark witnessed fluctuations between gains and losses before concluding 271.50 points, or 0.38%, higher at 71,657.71. The index fluctuated between a low of 71,110.98 and a high of 71,733.84 during the trading session. The Nifty also saw an upswing, gaining 73.85 points, or 0.34%, and settling at 21,618.70.
SpiceJet CEO Ajay Singh on Wednesday said his airline will soon start flights to Lakshadweep and Ayodhya. "SpiceJet will soon launch flights to Lakshadweep as well as to Ayodhya," said Singh asserting the latest fund infusion will help the airline become more stronger.
Stock markets update: Equity benchmark indices opened higher in early trade on Thursday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 341.76 points to  71,999.47. Meanwhile, the Nifty was also up by 107.8 points to 21,726.50 points.
White collar hiring in India witnessed a 16 per cent decline in December compared to the year-ago period due to cautious hiring sentiments in the IT, BPO, education, retail, and healthcare sectors, a report said on Tuesday.

India, Sri Lanka discuss UPI payment system's early launch

Tuesday 09 January 2024 05:24 PM UTC+00
Six months after it was announced by the heads of both countries, India has discussed the early launch of the UPI payment system with Sri Lanka and reiterated its support in the cash-strapped island nation's debt restructuring process.
Stock markets update: After three consecutive days of positive rally, the stock markets of Wednesday once again opened in red amid weak global clues. The 30-share BSE Sensex dropped 81.35 points to 71,304.86 in early trade. Meanwhile, the Nifty fell by 27 points to 21,517.85. 
The Adani Group revealed its plans to invest a massive sum of Rs 2 lakh crore in Gujarat in the field of green energy and renewable sectors over the next five years. Speaking at the Vibrant Gujarat Summit 2024, Adani Group chairman Gautam Adani said that the investment would help in generating over 1 lakh direct and indirect jobs. 
Prime Minister Narendra Modi Vibrant Gujarat Global Summit 2024 in Gandhinagar said that it is the responsibility of the government that India should be a developed nation by 2047. On Tuesday, a bilateral meeting was held between Prime Minister Narendra Modi and United Arab Emirates President Mohamed bin Zayed Al Nahyan where several MoUs were signed. The UAE president is the chief guest at the 10th edition of the Vibrant Gujarat Global Summit (VGGS) which will be inaugurated by PM Modi at Mahatma Mandir Convention Centre in Gandhinagar on Wednesday. UPDATES
Ram temple inauguration: Radisson Hotel Group on Wednesday announced the opening of its new hotel in Ayodhya, ahead of the inauguration of Ram Temple in the city on January 22. With the inauguration of the temple expected to stimulate religious tourism, hotel chains are strategically increasing their focus on the destination in anticipation of a surge in demand.
In a remarkable turnaround, the Indian equity benchmarks, Sensex and Nifty, experienced a late surge, closing higher on Wednesday, bolstered by robust buying in key players like Reliance Industries (RIL), ICICI Bank, and HDFC Bank. Despite a subdued start, the BSE benchmark witnessed fluctuations between gains and losses before concluding 271.50 points, or 0.38%, higher at 71,657.71. The index fluctuated between a low of 71,110.98 and a high of 71,733.84 during the trading session. The Nifty also saw an upswing, gaining 73.85 points, or 0.34%, and settling at 21,618.70.
SpiceJet CEO Ajay Singh on Wednesday said his airline will soon start flights to Lakshadweep and Ayodhya. "SpiceJet will soon launch flights to Lakshadweep as well as to Ayodhya," said Singh asserting the latest fund infusion will help the airline become more stronger.
Stock markets update: Equity benchmark indices opened higher in early trade on Thursday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 341.76 points to  71,999.47. Meanwhile, the Nifty was also up by 107.8 points to 21,726.50 points.

Amazon's Twitch trims over 500 jobs to turn platform profitable

Thursday 11 January 2024 06:12 AM UTC+00
Twitch, the video game streaming platform acquired by Amazon almost ten years ago for approximately USD 1 billion, is laying off more than 500 employees as the company tries to turn the tremendously expensive division profitable.
SpiceJet CEO Ajay Singh on Wednesday said his airline will soon start flights to Lakshadweep and Ayodhya. "SpiceJet will soon launch flights to Lakshadweep as well as to Ayodhya," said Singh asserting the latest fund infusion will help the airline become more stronger.
Stock markets update: Equity benchmark indices opened higher in early trade on Thursday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 341.76 points to  71,999.47. Meanwhile, the Nifty was also up by 107.8 points to 21,726.50 points.

Amazon's Twitch trims over 500 jobs to turn platform profitable

Thursday 11 January 2024 06:12 AM UTC+00
Twitch, the video game streaming platform acquired by Amazon almost ten years ago for approximately USD 1 billion, is laying off more than 500 employees as the company tries to turn the tremendously expensive division profitable.
Reserve Bank of India (RBI) Governor Shaktikanta Das said that the central bank will not follow other countries in regulating cryptocurrencies, emphasising that decisions taken in other markets may not necessarily be suitable for India. His comments were made in response to the recent approval by the US Securities and Exchange Commission for the creation of bitcoin exchange-traded funds (ETFs) in the United States.
Maxposure, a media and entertainment services company, is gearing up for its initial public offering (IPO), with the SME issue scheduled to open for subscription on January 15.
The government is planning to decrease its budget deficit by at least 50 basis points in the fiscal year 2024-25, aiming for a target lower than the current year's 5.9 per cent of gross domestic product (GDP). Simultaneously, it also plans to boost capital spending by up to 20 per cent, according to a Reuters report citing government officials.
Netflix's India arm, Netflix Entertainment Services India LLP, received a 24 per cent year-on-year growth in its FY23 revenue, reaching Rs 2,214 crore, as per regulatory filings with the Registrar of Companies (RoC). The net profit also witnessed a substantial increase, growing by 75 per cent compared to the previous year to Rs 35 crore.
Finance Minister Nirmala Sitharaman on Thursday said India has a USD 10.1 trillion funding gap to meet its net zero commitment and asked IFSC to set up a platform where green credits can be traded.

Sensex rises 0.09 per cent, Nifty settles 0.13 per cent higher

Thursday 11 January 2024 10:45 AM UTC+00
Sensex, Nifty ended marginally higher on Thursday, reducing most of their intra-day gains, as investors turned cautious ahead of the quarterly results of IT behemoths TCS and Infosys later in the day.   The BSE Sensex, a 30-share index, inched up by 0.09 per cent, or 63.47 points, to settle at 71,721.18, after peaking at 71,999.47 during the day. Nifty rose by 0.13 per cent, adding 28.50 points to reach 21,647.20.   Major gainers among Sensex constituents included Reliance Industries, UltraTech Cement, Axis Bank, IndusInd Bank, Power Grid, Tata Motors, Tech Mahindra, and Tata Consultancy Services. Conversely, Infosys, Hindustan Unilever, Wipro, Larsen & Toubro, and Nestle witnessed declines.   Market sentiments were influenced by the impending release of US inflation data and domestic macroeconomic figures, prompting investors to adopt a cautious stance. Asian markets exhibited mixed trends, with Tokyo, Shanghai, and Hong Kong closing higher, while Seoul ended lower. Meanwhile, European markets traded higher, and the US markets closed positively on the previous day.   Vinod Nair, Head of Research at Geojit Financial Services, attributed the cautious trading to expectations of US inflation easing, although global markets, anticipating a 2024 interest rate cut, had already factored in optimism. Additionally, concerns about premium valuations and profit booking amid moderating Q3 corporate earnings played a role.   "In anticipation of inflation data from the US, the Indian market exhibited range-bound trade. Though investors anticipate US inflation to ease, global markets, expecting a CY24 interest rate cut, have already priced in optimism. Profit booking occurred amid moderating Q3 corporate earnings and concerns about premium valuations," said Nair.   Brent crude, the global oil benchmark, experienced a 1.56 per cent increase, reaching USD 78 per barrel. Foreign institutional investors (FIIs) were net sellers on Wednesday, offloading equities valued at Rs 1,721.35 crore. In the preceding session, the BSE benchmark closed 0.38 per cent higher at 71,657.71, while the Nifty advanced by 0.34 per cent to 21,618.70 points. (With PTI inputs)

Infosys Q3 profit declines 7.3 per cent YoY to Rs 6,106 crore

Thursday 11 January 2024 11:22 AM UTC+00
Infosys, led by Salil Parekh, reported a 7.3 per cent year-on-year (YoY) decline in net profit for the December quarter, amounting to Rs 6,106 crore compared to Rs 6,586 crore in the corresponding quarter of the previous year.

Amazon's Twitch trims over 500 jobs to turn platform profitable

Thursday 11 January 2024 06:12 AM UTC+00
Twitch, the video game streaming platform acquired by Amazon almost ten years ago for approximately USD 1 billion, is laying off more than 500 employees as the company tries to turn the tremendously expensive division profitable.
Reserve Bank of India (RBI) Governor Shaktikanta Das said that the central bank will not follow other countries in regulating cryptocurrencies, emphasising that decisions taken in other markets may not necessarily be suitable for India. His comments were made in response to the recent approval by the US Securities and Exchange Commission for the creation of bitcoin exchange-traded funds (ETFs) in the United States.
Maxposure, a media and entertainment services company, is gearing up for its initial public offering (IPO), with the SME issue scheduled to open for subscription on January 15.
The government is planning to decrease its budget deficit by at least 50 basis points in the fiscal year 2024-25, aiming for a target lower than the current year's 5.9 per cent of gross domestic product (GDP). Simultaneously, it also plans to boost capital spending by up to 20 per cent, according to a Reuters report citing government officials.
Netflix's India arm, Netflix Entertainment Services India LLP, received a 24 per cent year-on-year growth in its FY23 revenue, reaching Rs 2,214 crore, as per regulatory filings with the Registrar of Companies (RoC). The net profit also witnessed a substantial increase, growing by 75 per cent compared to the previous year to Rs 35 crore.
Finance Minister Nirmala Sitharaman on Thursday said India has a USD 10.1 trillion funding gap to meet its net zero commitment and asked IFSC to set up a platform where green credits can be traded.

Sensex rises 0.09 per cent, Nifty settles 0.13 per cent higher

Thursday 11 January 2024 10:45 AM UTC+00
Sensex, Nifty ended marginally higher on Thursday, reducing most of their intra-day gains, as investors turned cautious ahead of the quarterly results of IT behemoths TCS and Infosys later in the day.   The BSE Sensex, a 30-share index, inched up by 0.09 per cent, or 63.47 points, to settle at 71,721.18, after peaking at 71,999.47 during the day. Nifty rose by 0.13 per cent, adding 28.50 points to reach 21,647.20.   Major gainers among Sensex constituents included Reliance Industries, UltraTech Cement, Axis Bank, IndusInd Bank, Power Grid, Tata Motors, Tech Mahindra, and Tata Consultancy Services. Conversely, Infosys, Hindustan Unilever, Wipro, Larsen & Toubro, and Nestle witnessed declines.   Market sentiments were influenced by the impending release of US inflation data and domestic macroeconomic figures, prompting investors to adopt a cautious stance. Asian markets exhibited mixed trends, with Tokyo, Shanghai, and Hong Kong closing higher, while Seoul ended lower. Meanwhile, European markets traded higher, and the US markets closed positively on the previous day.   Vinod Nair, Head of Research at Geojit Financial Services, attributed the cautious trading to expectations of US inflation easing, although global markets, anticipating a 2024 interest rate cut, had already factored in optimism. Additionally, concerns about premium valuations and profit booking amid moderating Q3 corporate earnings played a role.   "In anticipation of inflation data from the US, the Indian market exhibited range-bound trade. Though investors anticipate US inflation to ease, global markets, expecting a CY24 interest rate cut, have already priced in optimism. Profit booking occurred amid moderating Q3 corporate earnings and concerns about premium valuations," said Nair.   Brent crude, the global oil benchmark, experienced a 1.56 per cent increase, reaching USD 78 per barrel. Foreign institutional investors (FIIs) were net sellers on Wednesday, offloading equities valued at Rs 1,721.35 crore. In the preceding session, the BSE benchmark closed 0.38 per cent higher at 71,657.71, while the Nifty advanced by 0.34 per cent to 21,618.70 points. (With PTI inputs)

Infosys Q3 profit declines 7.3 per cent YoY to Rs 6,106 crore

Thursday 11 January 2024 11:22 AM UTC+00
Infosys, led by Salil Parekh, reported a 7.3 per cent year-on-year (YoY) decline in net profit for the December quarter, amounting to Rs 6,106 crore compared to Rs 6,586 crore in the corresponding quarter of the previous year.
India's largest IT services company, Tata Consultancy Services (TCS), reported a net profit of Rs 11,058 crore in the quarter ended December 31, 2023, marking a 2 percent YoY increase from Rs 10,846 crore in the corresponding quarter of the previous fiscal year.
On New Year's Eve 2023, online food delivery platforms in India processed 5 million orders, an 18 percent. On New Year's Eve 2022, online food delivery platforms in the country recorded 5.50 million orders.
Reserve Bank of India (RBI) Governor Shaktikanta Das said that the central bank will not follow other countries in regulating cryptocurrencies, emphasising that decisions taken in other markets may not necessarily be suitable for India. His comments were made in response to the recent approval by the US Securities and Exchange Commission for the creation of bitcoin exchange-traded funds (ETFs) in the United States.
Maxposure, a media and entertainment services company, is gearing up for its initial public offering (IPO), with the SME issue scheduled to open for subscription on January 15.
The government is planning to decrease its budget deficit by at least 50 basis points in the fiscal year 2024-25, aiming for a target lower than the current year's 5.9 per cent of gross domestic product (GDP). Simultaneously, it also plans to boost capital spending by up to 20 per cent, according to a Reuters report citing government officials.
Netflix's India arm, Netflix Entertainment Services India LLP, received a 24 per cent year-on-year growth in its FY23 revenue, reaching Rs 2,214 crore, as per regulatory filings with the Registrar of Companies (RoC). The net profit also witnessed a substantial increase, growing by 75 per cent compared to the previous year to Rs 35 crore.
Finance Minister Nirmala Sitharaman on Thursday said India has a USD 10.1 trillion funding gap to meet its net zero commitment and asked IFSC to set up a platform where green credits can be traded.

Sensex rises 0.09 per cent, Nifty settles 0.13 per cent higher

Thursday 11 January 2024 10:45 AM UTC+00
Sensex, Nifty ended marginally higher on Thursday, reducing most of their intra-day gains, as investors turned cautious ahead of the quarterly results of IT behemoths TCS and Infosys later in the day.   The BSE Sensex, a 30-share index, inched up by 0.09 per cent, or 63.47 points, to settle at 71,721.18, after peaking at 71,999.47 during the day. Nifty rose by 0.13 per cent, adding 28.50 points to reach 21,647.20.   Major gainers among Sensex constituents included Reliance Industries, UltraTech Cement, Axis Bank, IndusInd Bank, Power Grid, Tata Motors, Tech Mahindra, and Tata Consultancy Services. Conversely, Infosys, Hindustan Unilever, Wipro, Larsen & Toubro, and Nestle witnessed declines.   Market sentiments were influenced by the impending release of US inflation data and domestic macroeconomic figures, prompting investors to adopt a cautious stance. Asian markets exhibited mixed trends, with Tokyo, Shanghai, and Hong Kong closing higher, while Seoul ended lower. Meanwhile, European markets traded higher, and the US markets closed positively on the previous day.   Vinod Nair, Head of Research at Geojit Financial Services, attributed the cautious trading to expectations of US inflation easing, although global markets, anticipating a 2024 interest rate cut, had already factored in optimism. Additionally, concerns about premium valuations and profit booking amid moderating Q3 corporate earnings played a role.   "In anticipation of inflation data from the US, the Indian market exhibited range-bound trade. Though investors anticipate US inflation to ease, global markets, expecting a CY24 interest rate cut, have already priced in optimism. Profit booking occurred amid moderating Q3 corporate earnings and concerns about premium valuations," said Nair.   Brent crude, the global oil benchmark, experienced a 1.56 per cent increase, reaching USD 78 per barrel. Foreign institutional investors (FIIs) were net sellers on Wednesday, offloading equities valued at Rs 1,721.35 crore. In the preceding session, the BSE benchmark closed 0.38 per cent higher at 71,657.71, while the Nifty advanced by 0.34 per cent to 21,618.70 points. (With PTI inputs)

Infosys Q3 profit declines 7.3 per cent YoY to Rs 6,106 crore

Thursday 11 January 2024 11:22 AM UTC+00
Infosys, led by Salil Parekh, reported a 7.3 per cent year-on-year (YoY) decline in net profit for the December quarter, amounting to Rs 6,106 crore compared to Rs 6,586 crore in the corresponding quarter of the previous year.
India's largest IT services company, Tata Consultancy Services (TCS), reported a net profit of Rs 11,058 crore in the quarter ended December 31, 2023, marking a 2 percent YoY increase from Rs 10,846 crore in the corresponding quarter of the previous fiscal year.
On New Year's Eve 2023, online food delivery platforms in India processed 5 million orders, an 18 percent. On New Year's Eve 2022, online food delivery platforms in the country recorded 5.50 million orders.

Microsoft becomes world's most valuable company overtaking Apple

Thursday 11 January 2024 04:14 PM UTC+00
In the race to be the most valuable IT company, Microsoft (MSFT.O) overtook Apple (AAPL.O) on Thursday. Washington-based Microsoft became the world's most valuable company after the iPhone maker's shares made a weak start to 2024 due to growing concerns over demand.
Reserve Bank of India (RBI) Governor Shaktikanta Das said that the central bank will not follow other countries in regulating cryptocurrencies, emphasising that decisions taken in other markets may not necessarily be suitable for India. His comments were made in response to the recent approval by the US Securities and Exchange Commission for the creation of bitcoin exchange-traded funds (ETFs) in the United States.
Maxposure, a media and entertainment services company, is gearing up for its initial public offering (IPO), with the SME issue scheduled to open for subscription on January 15.
The government is planning to decrease its budget deficit by at least 50 basis points in the fiscal year 2024-25, aiming for a target lower than the current year's 5.9 per cent of gross domestic product (GDP). Simultaneously, it also plans to boost capital spending by up to 20 per cent, according to a Reuters report citing government officials.
Netflix's India arm, Netflix Entertainment Services India LLP, received a 24 per cent year-on-year growth in its FY23 revenue, reaching Rs 2,214 crore, as per regulatory filings with the Registrar of Companies (RoC). The net profit also witnessed a substantial increase, growing by 75 per cent compared to the previous year to Rs 35 crore.
Finance Minister Nirmala Sitharaman on Thursday said India has a USD 10.1 trillion funding gap to meet its net zero commitment and asked IFSC to set up a platform where green credits can be traded.

Sensex rises 0.09 per cent, Nifty settles 0.13 per cent higher

Thursday 11 January 2024 10:45 AM UTC+00
Sensex, Nifty ended marginally higher on Thursday, reducing most of their intra-day gains, as investors turned cautious ahead of the quarterly results of IT behemoths TCS and Infosys later in the day.   The BSE Sensex, a 30-share index, inched up by 0.09 per cent, or 63.47 points, to settle at 71,721.18, after peaking at 71,999.47 during the day. Nifty rose by 0.13 per cent, adding 28.50 points to reach 21,647.20.   Major gainers among Sensex constituents included Reliance Industries, UltraTech Cement, Axis Bank, IndusInd Bank, Power Grid, Tata Motors, Tech Mahindra, and Tata Consultancy Services. Conversely, Infosys, Hindustan Unilever, Wipro, Larsen & Toubro, and Nestle witnessed declines.   Market sentiments were influenced by the impending release of US inflation data and domestic macroeconomic figures, prompting investors to adopt a cautious stance. Asian markets exhibited mixed trends, with Tokyo, Shanghai, and Hong Kong closing higher, while Seoul ended lower. Meanwhile, European markets traded higher, and the US markets closed positively on the previous day.   Vinod Nair, Head of Research at Geojit Financial Services, attributed the cautious trading to expectations of US inflation easing, although global markets, anticipating a 2024 interest rate cut, had already factored in optimism. Additionally, concerns about premium valuations and profit booking amid moderating Q3 corporate earnings played a role.   "In anticipation of inflation data from the US, the Indian market exhibited range-bound trade. Though investors anticipate US inflation to ease, global markets, expecting a CY24 interest rate cut, have already priced in optimism. Profit booking occurred amid moderating Q3 corporate earnings and concerns about premium valuations," said Nair.   Brent crude, the global oil benchmark, experienced a 1.56 per cent increase, reaching USD 78 per barrel. Foreign institutional investors (FIIs) were net sellers on Wednesday, offloading equities valued at Rs 1,721.35 crore. In the preceding session, the BSE benchmark closed 0.38 per cent higher at 71,657.71, while the Nifty advanced by 0.34 per cent to 21,618.70 points. (With PTI inputs)

Infosys Q3 profit declines 7.3 per cent YoY to Rs 6,106 crore

Thursday 11 January 2024 11:22 AM UTC+00
Infosys, led by Salil Parekh, reported a 7.3 per cent year-on-year (YoY) decline in net profit for the December quarter, amounting to Rs 6,106 crore compared to Rs 6,586 crore in the corresponding quarter of the previous year.
India's largest IT services company, Tata Consultancy Services (TCS), reported a net profit of Rs 11,058 crore in the quarter ended December 31, 2023, marking a 2 percent YoY increase from Rs 10,846 crore in the corresponding quarter of the previous fiscal year.
On New Year's Eve 2023, online food delivery platforms in India processed 5 million orders, an 18 percent. On New Year's Eve 2022, online food delivery platforms in the country recorded 5.50 million orders.

Microsoft becomes world's most valuable company overtaking Apple

Thursday 11 January 2024 04:14 PM UTC+00
In the race to be the most valuable IT company, Microsoft (MSFT.O) overtook Apple (AAPL.O) on Thursday. Washington-based Microsoft became the world's most valuable company after the iPhone maker's shares made a weak start to 2024 due to growing concerns over demand.
You received this email because you set up a subscription at Feedrabbit. This email was sent to you at epaperindia10@gmail.com. Unsubscribe or change your subscription.

Related Posts

There is no other posts in this category.
Subscribe Our Newsletter