WhatsApp Financial News

Titan's revenue jumped 17% year-on-year in the fourth quarter and 36 stores were added in the same period. The overall store count currently stands at 3,035.

Bank of India’s foreign exchange reserves touched a new record high of $645.58 billion in the week ended March 29, topping the previous high of $642.49, latest central bank data showed. Forex reserves increased by $2.9 billion in the week ended March 29, primarily driven by the central bank’s foreign currency assets that rose $2.3 billion to $570.61 billion during the week. “We have been consciously building reserves over the past four five years as the market moves prevailing upon the market situation,” said central bank governor Shaktikanta Das at the post-policy media briefing Friday. “That effort continues because it acts as a buffer against future risks especially in situations when the cycle turns and there is significant outflow of dollars”

Rameshwaram Cafe on March 1 which injured nearly 10 people. «As part of the investigation into the Rameshwaram Cafe Blast dated March 1 at ITPL Road in Bengaluru's, the NIA has identified the accused person who carried out the IED blast as one Mussavir Hussain Shazib and co-conspirator as Abdul Matheen Taahaa, both residents of Thirthahalli in Shivamogga district,» said NIA in its statement on X. The agency added that Muzammil Shareef of Chikkamagaluru, who extended logistics support to the main accused persons, was arrested on March 26 and was examined in police custody. As part of efforts to locate and arrest the absconding accused persons, NIA conducted searches on 18 locations in Karnataka, Tamil Nadu and Uttar Pradesh.

UPI, the Reserve Bank Governor said. “Given the experience gained from card-less cash withdrawal using UPI at the ATMs, it is now proposed to also facilitate deposit of cash in CDMs using UPI. This measure will further enhance customer convenience and make the currency handling process at banks more efficient”, said the RBI Governor Shaktikanta Das Prepaid payment instruments (PPI) or wallets could only be made by web or applications provided by the PPI issuers. This move will open wallets into the UPI ecosystem.

Lok Sabha elections. Navrattan Group founder Himansh Verma, recognizing the crucial role of democracy in shaping the nation's future, appealed to voters to actively engage in the electoral process. Verma emphasized the significance of electoral participation in bolstering India's democratic framework. He stressed the role of elected representatives in formulating policies that drive economic growth, foster innovation, and tackle societal issues. Moreover, he highlighted the importance of voters critically assessing the agendas and commitments presented by political parties and candidates. Verma encouraged voters to prioritize concerns such as job creation, economic stability, social equity, and environmental preservation when making their electoral decisions.

Kalyan Jewellers on Friday reported 34 per cent increase in consolidated revenue for the quarter ended March and a 31 per cent growth in the entire 2023-24 fiscal driven by better demand despite rise in gold prices. The company did not provide the actual revenue figures reported for the fourth quarter and entire FY24. Kochi-based Kalyan Jewellers, which has 253 showrooms across India and the Middle East, had posted a revenue of nearly Rs 3,400 crore during the fourth quarter of the last fiscal, and Rs 14,109.33 crore revenue for the entire 2022-23.

Benchmark NSE Nifty closed 0.96 points up at 22513.7 amid selling in frontline bluechip counters.

Russia must remain open despite its attack on Ukraine, Italy's defence minister said on Friday, commenting on recent talks between his French and Russian counterparts. On Wednesday, French Armed Forces Minister Sebastien Lecornu had a phone conversation with Russia's Sergei Shoigu — the first since October 2022 — during the course of which France condemned Russia's «war of aggression» in Ukraine. France later denied Russian claims that it expressed willingness to hold dialogue on Ukraine or discuss possible peace negotiations when the two countries' defence ministers spoke on Wednesday.

Shockwave Medical for $12.5 billion, in a deal that would help broaden its portfolio of medical devices used in treating heart diseases. The transaction — which is J&J's biggest since its $16.6 billion acquisition of heart pump maker Abiomed in 2022 — would give it access to a medical device that uses shockwaves to break down calcified plaque in heart vessels, similar to how kidney stones are treated.

Paytm parent company One97 Communications on Friday announced approval of grant of 91,250 stock options under ESOP 2019. The Nomination and Remuneration Committee of the company's board has also approved allotment of fully paid-up 2,91,388 equity shares having face value of Rs 1 each to eligible employees under ESOP 2008 and 2019, as per a stock exchange filing. It said each stock option (of 91,250 stock under ESOP 2019) is convertible into one fully paid up equity share having face value of Rs 1 each. The exercise price per stock option is Rs 9.

Shares of Balkrishna Industries Ltd.(up 2.64 per cent), Ashok Leyland Ltd.(up 1.74 per cent), Mahindra & Mahindra Ltd.(up 0.53 per cent), Tube Investments of India Ltd.(up 0.46 per cent) and Eicher Motors Ltd.(up 0.43 per cent) ended the day as top gainers in the pack.

Bandhan Bank on Friday announced that Chandra Shekhar Ghosh, Managing Director and Chief Executive Officer will retire from the position upon completion of his current tenure on July 9, 2024. «After leading the Bank for almost a decade including three consecutive tenure as MD & CEO, I feel that the time has now come for me to assume a larger strategic role at Bandhan group level. Hence, I have decided to retire from the services of Bandhan Bank at the end of my current tenure as MD & CEO, i.e. on July 09, 2024. I sincerely request the Board to accept my decision. I am grateful to the Board for continued support and advice over the years which has been a great source of strength,» said Ghosh in his letter. Bandhan Bank on Thursday said its loans and advances have clocked Rs 1.28 lakh crore at the end of the fourth quarter of the 2023-24 fiscal, registering a 17.8 per cent growth year-on-year. The lender said the same was Rs 1.09 lakh crore by the end of March 31, 2023.

Macrotech Developers has recorded its best quarterly performance ever with 40% year-on-year growth in pre-sales at Rs 4,230 crore for the quarter ended March. The performance has helped the company report its best-ever annual pre-sales at Rs 14,520 crore during the financial year 2023-24. With this, the company has met its guidance of 20% growth, Macrotech Developers said in a regulatory filing. The developer’s collection also rose 20% from a year ago to Rs 3,510 crore during the fourth quarter of the financial year. With this, the collections for the year rose to Rs 11,260 crore.

The NSE Nifty index ended the session 0.96 points down at 22513.7, while BSE Sensex rose 20.59 points to 74248.22.

Maldives, the government said on Friday, even as ties between Male and New Delhi remained tense amid rising Chinese influence. India, a leading exporter of rice, sugar and onions, has imposed various curbs on exports of these food commodities to keep a lid on local prices ahead of general election. Shipments of these commodities in the 2024/25 finiancial year which started on April 1 to Maldives «will be exempted from any existing or future restriction/prohibition on export,» the government said in a notification.

Supreme Court or high court to look into the matter, he added. «The governor has realised that all state-run university campuses have become mini-Sandeshkhali. Today, he ordered a judicial enquiry into corruption, violence and misuse of university campuses in West Bengal for electioneering and political purposes,» the official said. Allegations of sexual atrocities on women and land grabs were levelled against local leaders of the ruling Trinamool Congress at Sandeshkhali in North 24 Parganas district recently.

Kirandul police station limits when District Reserve Guard (DRG), Bastar Fighters and Central Reserve Police Force (CRPF) personnel were out on an anti-Naxal operation, the official said. «The operation was launched on Thursday based on inputs about the presence of Maoists in Purangel, Badepalli, Doditumnar and Gampur areas. After the exchange of fire ended, the body of a male Naxalite and a weapon were recovered from the spot. Further details are awaited as the operation is still underway,» he said. With this incident, the number of Naxalites killed in separate encounters in the seven districts in Bastar region this year has reached 47, the official said. On Tuesday, 13 Naxalites were killed in an encounter with security forces in Bijapur district in the region.

Domestic benchmark index NSE Nifty ended 0.96 points down at 22513.7, while the BSE Sensex closed 20.59 points up at 74248.22.

Shares of HCL Technologies Ltd.(up 0.37 per cent) ended the day as top gainers in the pack.

Immigration Services (USCIS) has unveiled a temporary final rule (TFR) to make work permits more accessible to immigrants. This move builds upon recent efforts to modernize immigration processes, particularly regarding eligibility for employment authorization documents (EADs). Under the new rule, the automatic 180-day period for certain EADs will be extended to 540 days. This decision follows substantial improvements in EAD processing times over the past year, ensuring that work-authorized noncitizens do not face interruptions in their employment status while awaiting USCIS decisions on EAD renewal applications. By extending the validity period of EADs, the USCIS aims to maintain continuity for both immigrants and US employers. The Biden Administration has been actively working to integrate work-authorized individuals into the labor force, thereby supporting local economies.