MUMBAI: State Bank of India reported a net profit of Rs 18,331 crore for the Sept quarter, up 28% from Rs 14,330 crore a year ago. This is the highest net profit reported by any entity for the period. SBI’s standalone profit in the preceding quarter stood at Rs 17,035 crore.On a consolidated basis, the…
MUMBAI: The Singapore govt is in talks with the Tata Group for a partnership to develop semiconductors. Senior Singapore govt officials, led by minister for law and home affairs K Shanmugam, met group chairman N Chandrasekaran this week to discuss semiconductors.Despite its small size, Singapore has 25 foundries and a robust semiconductor value chain. India…
MUMBAI: Swiggy’s Rs 11,327-crore IPO, the second-largest issue in India this year, was subscribed 3.6 times on Nov 8, the last day of its bidding, helped by backing from institutional investors. Swiggy shares will be listed on the bourses on Nov 13. Ready to Master Stock Valuation? ET’s Workshop is just around the corner! Source…
This is a representational image (Pic credit: Reuters/IANS) NEW DELHI: An investigation by Competition Commission of India found food delivery giants Zomato and Swiggy breached antitrust laws, with their business practices favouring select restaurants listed on their platforms, documents show.Zomato entered into “exclusivity contracts” with partners in return for lower commissions, while Swiggy guaranteed business…
Insurance Regulatory and Development Authority (IRDAI) chairman Debashish Panda (Pic credit: PTI) MUMBAI: Insurance regulator Irdai’s chief has made a case for increasing foreign direct investment in the insurance industry to 100% to achieve the goal of ‘insurance for all’ by 2047.“Perhaps it’s time to open up for 100% FDI so more players who want…
NEW DELHI: Air India will now have the option to take an alternative flight departing up to 12 hours before their originally booked flight, provided the departure dates of both flights is scheduled on the same date. This “fly prior” is complimentary for gold and platinum members of Air India’s Flying Returns loyalty programme. All…
India’s forex reserves decline for fifth week (Picture credit: ANI) NEW DELHI: India’s foreign exchange reserves fell for the fifth consecutive week after reaching an all-time high last month.In the week ending November 1, forex reserves declined by $2.675 billion to $682.130 billion, according to data released by the Reserve Bank of India (RBI) on…
NEW DELHI: India’s decision to purchase Russian oil during global market instability helped avert potential global price surges, according to Union petroleum and natural gas minister Hardeep Singh Puri.In a conversation with CNN’s Becky Anderson at ADIPEC in Abu Dhabi on Thursday, Puri said that global oil prices could have reached 200 dollars had India…
NEW DELHI: Global geopolitical unrest, particularly the ongoing conflict in the Middle East, has significantly impacted McDonald’s sales in West and South India, with some locations seeing sales fall to less than half of pre-crisis levels. “I don’t think a lot of stores which got impacted last year have come up to the level of…
The new scheme aims to provide loans of up to Rs 10 lakh for higher education in domestic institutions. (Image source: Freepik) PM Vidyalaxmi approved by Cabinet: Prime Minister Narendra Modi-led Cabinet on Wednesday approved the PM Vidyalaxmi scheme. The government has allocated Rs 3,600 crore for 2024-25 to 2030-31, aiming to assist 7 lakh…
