KPIT Tech Q1 profit jumps 54% on one-time gain, revenue up 24%
Pune-based KPIT, an automotive-focussed software services company, saw its net profit jump over 50% on year, while revenue was up over 24% in the first quarter of fiscal 2025.
Pune-based KPIT, an automotive-focussed software services company, saw its net profit jump over 50% on year, while revenue was up over 24% in the first quarter of fiscal 2025.
Netflix is gearing up to launch its latest period drama, The Decameron. After the Bridgerton Season 3, Netflix is set to captivate audiences once again with this new dramedy.
U.S. business activity reached a 27-month high in July, with S&P Global reporting its flash Composite PMI Output Index at 55.0, up from June's 54.8. This expansion was driven by a strong services sector, despite a slight easing in manufacturing. Prices charged for goods and services rose at the slowest rate since January, aligning closely with the Federal Reserve's 2% inflation target.
RBI cancelled the licence of The Mahabhairab Cooperative Urban Bank due to poor financial health, effective July 24, 2024. The bank can't continue operations and will be liquidated. Depositors will receive insurance claims up to Rs 5 lakh from the DICGC. As of June 13, 2024, DICGC has already paid Rs 20.03 crore in insured deposits.
CG Power and Industrial Solutions Ltd on Wednesday reported a 21 per cent hike in its standalone profit after tax of Rs 232.13 crore for the April-June 2024 quarter. The company, part of the diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 192.06 crore during the corresponding quarter of last year.
The Paris Olympics are knocking on the doors of France's iconic city, with swimming being one of the most important sports to look out for amid a plethora of other events. Swimming will see some of the leading sports stars from countries like United States, France, UK, Australia and others eyeing for multiple medals across various categories. Here's how you will be able to catch all the action live
Cooperation Minister Amit Shah informed Parliament that Rs 362.91 crore has been disbursed to more than 4.2 lakh depositors of Sahara Group of Cooperative Societies as of July 16, 2024. This disbursement is facilitated through the CRCS-Sahara Refund Portal, established following a Supreme Court order on March 29, 2023.
JK Paper Ltd on Wednesday reported a 55 per cent decline in consolidated net profit to Rs 140.79 crore in the June 2024 quarter, hit by a fall in market prices coupled with a surge in wood cost.
The Delhi High Court quashed proceedings against Hero MotoCorp Chairman Pawan Munjal in a foreign currency case filed by the Directorate of Revenue Intelligence in 2022. Munjal's appeal to nullify the proceedings at Patiala House Court succeeded which could impact related Enforcement Directorate money-laundering charges. The DRI had accused Munjal of illegally exporting foreign currency.
In response to a written question, Minister of State for Home Affairs Bandi Sanjay Kumar said the 'Citizen Financial Cyber Fraud Reporting and Management System' was launched in 2021 under Indian Cybercrime Coordination Centre I4C to immediately report and prevent siphoning of funds through financial frauds.
Former finance minister P Chidambaram warned the government about the consequences of underestimating inflation, which he said was severely affecting families. He questioned why the RBI hadn't reduced bank rates if inflation was low. Chidambaram also criticized the purported lack of employment generation and accused the government of failing to address economic disparities effectively.
Republican candidate Donald Trump has claimed that senior Democrat leaders like Barack Obama and Nancy Pelosi forced Joe Biden to pull out of the US Presidential Election 2024. He also claimed that it is easier to beat Kamala Harris.
Indian equity benchmark indices turned volatile on Wednesday, but recouped losses towards the end of the day. Sectorally, buying was seen in utilities, energy, oil & gas and smallcaps while auto, FMCG and banks saw selling pressure.
KuCoin announced its 28th Spotlight Initial Exchange Offering (IEO) with Liquidswap, backed by Pontem Network. The IEO will feature 420,000 LSD tokens with a lottery format for allocation. The event was scheduled from July 24, 2024 to July 30, 2024. This move reaffirmed KuCoin's commitment to innovative projects.
SBI Life Insurance reported a 36% increase in net profit to Rs 520 crore for the first quarter ended June 2024, compared to Rs 381 crore in the same quarter the previous year.
The Dow Jones Industrial Average fell 147.46 points, or 0.37%, at the open to 40,210.63.
The Indian market stood out for BMW as it continued to grow steadily, unlike several developed countries where premium vehicle demand has slowed. Senior BMW executives, including Jean-Philippe Parain, visited India to assess business operations. BMW Group India reported record half-yearly sales of 7,098 cars and 3,614 motorcycles in the first half of 2024. Globally, BMW's car sales increased by approximately 2% to 1,096,486 units during the same period. With India emerging as a significant sourcing hub... Читать дальше...
Tamil Nadu Chief Minister MK Stalin criticized Prime Minister Narendra Modi for prioritizing the government over the nation in the Union Budget. Stalin accused Modi of excluding several states from the budget's benefits and warned him against governing vindictively towards the opposition. He emphasized the need for impartial governance to avoid isolation.
The first 'Vivad se Vishwas' scheme for cases under the direct taxes or income tax category was brought out by the government in 2020 and, according to the CBDT chief, it was "quite successful" with about Rs 75,000 crore revenue being garnered and about a lakh taxpayers availing the scheme.
Jerry Nadler, a leading Democrat, has urged the House Judiciary Committee to investigate allegations that Elon Musk’s social media platform, X, has restricted users from following Vice President Kamala Harris’ official campaign account.
The Indian space sector has immense economic potential, likely to be worth Rs 35,200 crore, about 8% of the global share by 2033. On 23 July, the Finance Minister announced the creation of a dedicated “space fund” worth Rs 1,000 crore, aiming to boost India’s space economy, attract investment and in the global space industry.
The BJP criticized the Congress and other opposition parties for their negative reactions to the Union Budget, labeling the criticism as politically frustrated. BJP MP GVL Narasimha Rao stated that the budget focuses on the development of backward states like Andhra Pradesh and Bihar, dismissing opposition claims of discriminatory practices.