Digital Financial News

Q4 results 2024: Ahead of the announcement of Vedanta Q4 results today, the Indian metal major Vedanta shares witnessed selling pressure in early morning deals. Vedanta share price today opened downside at ₹380 apiece on NSE and went on to touch an intraday low of ₹377.10 per share, recording around 1.65 percent intraday loss during Thursday deals.

₹2,218.00 apiece on the BSE after muted Q4 results. FMCG major Hindustan Unilever (HUL) reported a standalone net profit of ₹2,406 crore in Q4FY24, registering a decline of 6% from ₹2,552 crore in the same period last year. The company’s revenue from operations rose marginally to ₹14,693 crore from 14,638 crore, YoY, with 2% volume growth.

₹ ₹1,658.75 apiece on the BSE. RBI on Wednesday directed Kotak Mahindra Bank to cease onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect. The central bank has barred the private sector lender from new issuances due to deficiencies in the bank’s IT system in 2022 and 2023.

AI adoption, showcasing how Indians are increasingly turning to smart technologies to simplify tasks, from home automation to virtual assistance. An impressive 724 million Indians are already integrated into the AI ecosystem, a number expected to grow by 6% annually. These users engage with AI through a variety of features, including image filters, personalized recommendations, and smart devices, making AI a prevalent force among nearly every internet user in the country.

Kotak Mahindra Bank after the Reserve Bank of India barred the lender from taking on new clients digitally. The BSE Sensex was trading 187 points or 0.25% lower at 73,668. Nifty50 was trading at 22,345, down 57 points or 0.26% at around 9.19 am.

Aditya Birla Group (ABG) chairman Kumar Mangalam Birla said Vodafone Idea (Vi) is a national asset, and the successful conclusion of its Rs 18,000 crore follow-on public offer (FPO), India’s largest, marks one such turning point for the telecom industry. “Vi is not just a telecom company. It’s a national asset with 215 million users and about 8000 MHz spectrum. That so many marquee investors participated in this equity issuance is a testament to the government’s vision of a digital India,” Birla said in an official statement following Vi’s FPO listing on the NSE Thursday. He added that the emphatic oversubscription of Vi’s FPO, with the overall book being subscribed 7 times and the institutional book being subscribed 19 times, demonstrates the tremendous potential of the India digital story and Vi’s role in it. “The robust engagement from both foreign and domestic investors is heartening. Notably, the full subscription of the retail portion is truly commendable, given the sheer scale of the offer.”

Nilesh Shah, MD & CEO, Envision Capital, says over the next 5 to 10 years, the pecking order in the Energy, Manufacturing, Infra (EMI) space will still be dominated by ABB, Siemens, L&T. These are essentially the companies which essentially are going to be the enablers of the EMI space. I do not think they are going to get bigger and bigger and you are really not seeing new players coming in there and they have the trust of their customers because these are such critical equipment that you are not going to compromise on anybody else and you are essentially going to go for the established players. It is these kinds of companies which will continue to dominate for the foreseeable future. Shah says: “Within EMI, if I were to use energy as well as infra, Hitachi Energy has been a position that we have now owned for three, three-and-a-half years. In this space, we have been owning KSB, which we have partly exited. We have been owning TD Power. We have been owning Jash Engineering” We currently are a $4 trillion economy. The financial market is about $4-4.5 trillion. In the journey from $4 to $10 trillion, when it will happen, we do not know. What will happen is what we both know, which is that $5-6 trillion will get created in the next three to five years. Do you agree with me? Nilesh Shah: Yes, that is right.

American credit ratings firm S&P Global said that a change in rules under the Lummis-Gillibrand Payment Stablecoin Act could see U.S. stablecoin adoption soar as the regulatory framework could bolster confidence.

The South Korean city of Busan’s plans to launch a city-run, blockchain-powered digital assets exchange may be in peril, a report claimed on April 24.

Mint spoke with said the contribution of automotive firms to revenue from manufacturing or engineering, research and development (ER&D) services of IT companies is now 25-35% compared to 15-20% four years ago. (IT companies do not divulge automotive numbers separately, apart from clubbing them under manufacturing or ER&D heads.) Automotive clients comprise at least 10% of the global ER&D market, which is worth $1.8 trillion, said Kumar Rakesh, India analyst for IT and automotive sectors at financial services firm, BNP Paribas.

database company MongoDB sees a “great opportunity” in India as large banks, airlines and financial services companies here launch AI business models, a top company executive said. Valued at about $30 billion, MongoDB counts Tata Digital, Tata AIG, Canara HSBC Life Insurance, Zomato, Devnagri, Ambee, Inovaare and Observe.AI among its key clients.

RBI) barred Kotak Mahindra Bank from signing up new customers through its online and mobile banking channels, and issuing fresh credit cards, among the toughest curbs imposed on a scheduled bank. The regulator said Kotak had failed to fix its IT systems after being asked to do so continuously over the past two years. The regulator cited «serious deficiencies and non-compliances» by Kotak in a statement shortly after the stock market closed on Wednesday. The third-most valued private bank in terms of market capitalisation was asked to stop the functions cited «with immediate effect». The stock closed at ₹1,843.05, up 1.64% on the BSE, at a market cap of ₹3.66 lakh crore. Kotak said it would resolve the matter quickly and assured customers there wouldn't be any interruption to services.

Luca Guadagnino, the sports drama has a cast of Josh O'Connor, and Mike Faist. With the film releasing at theatres, questions are asked about the movie's premier on OTT streaming platform and digital release.

Investing in cryptocurrencies is picking up steam, according to a new survey, even in the face of potential volatility and massive fraud that has been uncovered.

BlackRock has officially launched a new product to help American workers take on the all-encompassing problem of retirement security.

TikTok is halting a feature on its new app rewarding users in Europe for watching videos, after facing pressure from regulators worried about its addictive features

bitcoin prices breaking new records in recent months, fights over the cryptocurrency's energy usage and environmental impact are escalating across the United States. President Joe Biden's administration is demanding the industry disclose how much electricity mining operations use, while cryptocurrency groups are pushing for legislation to shield mines from local regulations that limit their expansion.

spot bitcoin and ether exchange traded funds aim to start trading on April 30, three asset managers that provide the products said on Wednesday. The financial hub is set to be Asia's first to accept cryptocurrency products as a mainstream investment tool, and the products have also received official regulatory approval from the Securities and Futures Commission, according to the Hong Kong markets watchdog's website.

As cryptocurrency integration is slowly becoming a cogent part of different sectors in the economy, it’s safe to assume that it’s becoming one with the world. Aiming to rank among the next top crypto coins to watch out for this year, Rollblock (RBLK) , a new gaming cryptocurrency platform, is gaining ground with an advanced digital casino gameplay that prioritizes transparency and speed. While Polygon show’s decline lately and Ripple sets to settle with SEC on April 23rd, investors are looking beyond the positive outcome that could later occur, as many eye Rollblock as the best crypto to buy.

Telecom Regulatory Authority of India (Trai) has recommended the use of active and passive infrastructure sharing among telecom service licensees, in a bid to promote optimum resource utilisation. The regulator Wednesday also recommended inter-band spectrum sharing between service providers in a licensed service area (LSA), along with suggesting exploring the possibility of allowing service providers to access globally harmonised spectrum bands assigned to government agencies or other non-telecom entities through authorised shared access (ASA) technique-based spectrum-sharing. The authority also recommended conditions for spectrum sharing, trading and leasing, which has been permitted under the new Telecommunications Act, 2023.

edtech platforms to upskill themselves in green technology and sustainability. Edtech firms like Coursera, Emeritus, UpGrad and Terra.do are seeing high enrolment rates for courses related to ESG reporting, climate technology, carbon accounting, lifecycle analyses, etc. There is also an increasing trend of engineers wanting to learn the tech stacks used in the climate tech industry, or product managers learning how to reduce emissions of their digital products.