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SBI delivers a strong performance. Yet it lags…

By Amriteshwar Mathur The results of State Bank of India, the largest bank in the country, were keenly awaited in a bid to see its ability to manage the impact of higher deposit rates and sluggish growth trends in the economy. And while SBI has shown strong growth in loans and net profit in the

Sixteen year wait ends: Work on Taj Bandstand begins this year

Mumbai’s famous Sea Rock Hotel’s landmark silhouette as well as its history was consigned to the past in 2009 when the structure was demolished after the opening of the Bandra-Worli sea link. Sixteen years and many litigations later, the site with a majestic view of the Arabian Sea will finally see construction work starting for

Trent posts lower-than-expected profit

Tata group’s value fashion brand Trent on Thursday reported a lower-than-expected consolidated net profit of Rs 496.54 crore, up 34% from Rs 370.64 crore a year ago. Bloomberg consensus estimates had pegged the net profit at Rs 507 crore. The revenue from operations also came in below Street estimates of Rs 4,760 crore, at Rs

TCS cuts variable pay for senior execs for second quarter

Senior executives at IT major Tata Consultancy Services (TCS) suffered a cut in quarterly variable payouts by 30% for a second consecutive quarter in Q3FY25, sources close to the company said. For the second quarter of the fiscal year too, the senior grade employees at India’s largest IT company saw 20%-30% cut in variable pay.

Hexaware seeks Rs 8,750 crore in trimmed listing

Hexaware Technologies, backed by private equity major Carlyle Group, on Thursday fixed a price band of Rs 674-708 per share for its Rs 8,750-crore ($1 billion) initial public offering (IPO). This will be the largest IPO in the Indian IT services sector, surpassing Tata Consultancy Services’ Rs 4,713-crore issue in 2004. ALSO READNomura cuts target

EPFO settles record 50.8 million claims in FY25

The Employees’ Provident Fund Organisation (EPFO) has processed a record 50.8 million claims in the current financial year so far, which is 14.1% more than 44.5 million claims settled in FY24, an official release said. You still need EPF, NPS, insurance In FY25 so far, the claims processes are for a sum of more than

ArcelorMittal Ebitda down 56% annually

ArcelorMittal/Nippon Steel India (AM/NS), the Indian arm of UK based steel giant ArcelorMittal, reported 56.4% drop in Ebitda for the 12 months ended December 31, 2024, due to negative price-cost impact, the company said. Sales for the year dropped 2.9% to $6.52 billion, though  the October-December quarter showed signs of recovery in demand with increased

MRF Q3 net drops 38% to Rs 315 crore amid rising raw material costs

Tyre maker MRF reported a 38% year-on-year drop in its net profit, at Rs 315.46 crore, for Q3FY25 due to rising raw material costs and a weakening rupee. The net profit was also down sequentially, from Rs 470.70 crore posted in the previous quarter. The decline in profit came despite a 14% increase in consolidated

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Zerodha’s Nithin Kamath on SEBI’s new algo trading rules: API limits, strategy restrictions and other key details

Retail traders using broker APIs for automated trades now have new regulations to consider. The market regulator SEBI has rolled out a framework to regulate retail participation in algorithmic trading. Zerodha co-founder Nithin Kamath took to X, formerly Twitter to break down the key points of the new regulations for traders relying on broker APIs

Bank stocks in focus as RBI cuts Policy rate by 25 bps

Banking stocks are in the limelight as the Reserve Bank of India slashed the key lending rates by 25 basis points to 6.25% from 6.5%. The RBI Governor added that “Bank liquidity buffers are sufficient. Though the net interest margin (NIM) moderated, return on assets (RoA) and return on equity (RoE) are robust. The system-level

ITC Share Price Today Live Updates, 07 Feb, 2025: ITC on the radar

Go to Live UpdatesITC Share Price Today Live Updates, 07 Feb, 2025: The ITC share is in news and the counter closed trade on 06 Feb, 2025 at Rs 441.4. The shares touched intraday high of Rs 450.1 in the last trading session while the intraday low was at Rs 438.25. The company’s market capitalization

RBI announces additional authentication layer for online international digital payments

Newly appointed RBI Governor Sanjay Malhotra on Friday announced a 25-bps repo rate cut, giving much-needed relief to home and other loan borrowers who have long been waiting for their respective banks to slash rates. It, however, has to be seen how banks respond to RBI rate cut and whether they pass on this benefit

RBI Cuts Repo Rate by 25 bps: What should homebuyers do now?

In a widely-anticipated move, the Reserve Bank of India (RBI) has announced a 25-basis point (bps) reduction in the repo rate, marking a significant step to ease borrowing costs and stimulate economic growth. The decision, unveiled by RBI Governor Sanjay Malhotra on Friday, February 7, follows extensive deliberations by the Monetary Policy Committee (MPC). The