'Amazon racing to develop AI chips cheaper, faster than Nvidia's'
Through its homegrown chips, Amazon wants to help customers compute complex calculations and process enormous amounts of data more cheaply
Through its homegrown chips, Amazon wants to help customers compute complex calculations and process enormous amounts of data more cheaply
EQT Private Capital Asia, formerly known as Baring Private Equity Asia, on Thursday exited RBL Bank by selling its entire 7.89 per cent stake in the private sector lender for Rs 1,091 crore through an open market transaction. EQT Private Capital Asia through its vehicle Maple II BV sold shares of RBL Bank through a bulk deal on the BSE. As per the data available on the BSE, Maple II B V sold 4,78,40,700 shares, amounting to a 7.89 per cent stake in RBL Bank. The shares were offloaded at an average price of Rs 228.08 apiece... Читать дальше...
India needs medium-term targets
The edtech firm has urged the Court to stay the insolvency resolution process as well as the formation of the Committee of Creditors (CoC)
Minister for External Affairs S Jaishankar on Thursday met his counterparts from the Philippines, Enrique A Manalo, and Norway's Espen Barth Eide on the margins of the ASEAN meet and discussed strengthening bilateral collaboration and priorities in the Indo-Pacific region. Jaishankar also held bilateral meetings with Timor Leste's Foreign Minister Bendito Freitas and Deputy Prime Minister and Foreign Minister of Cambodia Sok Chenda Sophea. Jaishankar and all other leaders are in the Lao People's... Читать дальше...
The BJP government in Odisha presented its maiden budget on Thursday with a total estimate of Rs 2.65 lakh crore for the 2024-25 fiscal, laying emphasis on agriculture and women empowerment. The size of the budget for the current financial year was around 15 per cent more than the budgetary estimate of Rs 2.30 lakh crore for the 2023-24 fiscal, Chief Minister Mohan Charan Majhi said in the assembly. Majhi, who also holds the finance portfolio, proposed an outlay of Rs 33,919 crore for agriculture... Читать дальше...
State-owned BSNL's total income increased by about 3 per cent to Rs 21,302 crore in the financial year 2023-24, Parliament was informed on Thursday. Minister of State for Communications Pemmasani Chandra Sekhar, in a written reply to the Rajya Sabha, shared that BSNL's total income was Rs 20,699 crore in 2022-23. The financial data shared by Sekhar shows that BSNL has received Rs 1.16 lakh crore from the revival package approved by the government between financial year (FY) 2020 and FY24. The state-owned firm received Rs 60,203 crore in FY24. Читать дальше...
A spokesperson for Diageo India confirmed receiving the Delhi police notice and said the company would fully cooperate and was "in the process of providing the information sought"
Since Murdoch designed the trust nearly 25 years ago, the family's political views have diverged sharply
The Ramco Cements Ltd on Thursday reported a 50.82 per cent decline in its consolidated net profit to Rs 36.57 crore in the June 2024 quarter due to a fall in cement prices and weak demand amid the Lok Sabha polls. The company posted a net profit of Rs 74.36 crore during the April-June quarter of the previous fiscal, The Ramco Cements said in a regulatory filing. Its revenue from operations fell 6.81 per cent to Rs 2,093.55 crore during the quarter under review against Rs 2,246.66 crore a year ago. Читать дальше...
Markets regulator Sebi on Thursday proposed guidelines for credit rating agencies (CRAs) to include detailed reasons for rating actions, especially in cases of default and upgrades of default ratings. In its consultation paper, the regulator has recommended removing "technical default" from policies due to potential negative market signals and covenant triggers. CRAs have cited operational issues like force majeure events or bank strikes that should be considered in their policies. The proposed guidelines... Читать дальше...
Beer maker United Breweries Ltd, controlled by Dutch multinational brewing company Heineken NV, on Thursday reported a 27.47 per cent rise in consolidated net profit to Rs 173.80 crore for the first quarter ended on June 30. The company had posted a net profit of Rs 136.34 crore in the April-June quarter a year ago, according to a regulatory filing from United Breweries Ltd (UBL). UBL's revenue from operations rose 10.83 per cent to Rs 5,811.28 crore during the quarter under review. It was Rs 5,243.01... Читать дальше...
The turnover of the automotive component industry rose by 9.8 per cent year-on-year to Rs 6.14 lakh crore for the fiscal ended March 31, 2024, industry body ACMA said on Thursday. The industry had reported a turnover of Rs 5.59 lakh crore in the 2022-23 financial year. Component supply to OEMs (original equipment manufacturers) in the domestic market grew by 8.9 per cent to Rs 5.18 lakh crore, with supply to the EV manufacturing industry accounting for 6 per cent of the total component production in the country... Читать дальше...
Indian financial system looks stronger than in the past and the country's economy is an outlier even as strong headwinds globally, Reserve Bank of India Deputy Governor M Rajeshwar Rao said. Delivering the J P Morgan India Leadership Series Lecture here, the RBI official also highlighted that India has achieved the highest climate change performance index (CCPI) score among G20 members in 2024, which reflects the country's unwavering commitment to this cause. "This also shows that by aligning economic policies with climate action... Читать дальше...
Budget proposal to promote investments, create jobs, say industry players
Additional 5% 'run-off' factor imposed on retail deposits in view of proliferation of digital banking
The corporate component of the scheme is voluntary in nature and includes people working in public sector organisations, private limited companies, or public sector banks among others
After getting off to a rocky start last year, Olympics 2024 organizers said the Paris Games broke the record for the most number of tickets sold or allocated in the event's history. And yet, tickets are still available. Organizers say 9.7 million tickets were sold or allocated for this year's Olympic and Paralympic Games, with 8.7 million sold for the former and a million for the latter. For Paris, a total of 10 million tickets were put on sale for the Olympics meaning that despite the historic... Читать дальше...
Motilal Oswal Financial Services Ltd (MOFSL) on Thursday posted its highest-ever quarterly profit of Rs 1,021 crore for the April-June quarter of 2024-25, marking a 52 per cent jump from the year-ago period. The company reported a profit after tax (PAT) of Rs 671 crore in the same quarter preceding fiscal. Revenue from operations surged to Rs 2,312.3 crore in the April-June quarter of the current financial year (FY25) against Rs 1,501.5 crore in the corresponding period of the preceding fiscal, according to an exchange filing. Читать дальше...
The new credit guarantee scheme has now also been extended to NBFCs, MFIs and SFBs
The Reserve Bank of India (RBI) on Thursday released draft guidelines proposing banks to assign additional liquidity buffers for accounts having internet and mobile banking (IMB) facilities to stave off any risks during times of stress. The draft guidelines follow an announcement by Governor Shaktikanta Das in the April policy review, given the high usage of technological tools in banking that can lead to moving of funds without physically queuing up at bank branches. "While increased usage of technology... Читать дальше...
Comprehensive insights into ratings and returns offered by various players over different horizons
Both the finance minister and the economic survey have highlighted the success of IBC
UTI Asset Management Company on Thursday reported a nine per cent growth in profit after tax (PAT) to Rs 254 crore in the three months ended June 30, 2024. In comparison, the company had posted a PAT of Rs 234 crore in the same quarter a year ago, UTI AMC said in a regulatory filing to the stock exchanges. The company's total revenue from operations rose 13 per cent to Rs 529 crore during the quarter under review, as compared to Rs 468 crore in the April-June quarter of the preceding financial year (2023-24). Читать дальше...
Assuming valuations at around 30 times price-to-earnings and valuing holdings in listed subsidiaries at a discount of 25% to fair-value, there could still be an upside of 15-20%