Freight rates from Asia spike 53% in a month amid Red Sea attacks

New Delhi (IANS) Freight rates from Asia have spiked 53 per cent in a month depending on the route plus container shipping giants and oil supermajor British Petroleum have halted transit via the Red Sea/Suez Canal route after the attacks, Madhavi…

Markets to remain range bound

New Delhi (IANS) Markets were on a smooth course during the last week until a tsunami hit them on Wednesday. Even two trading sessions later what happened on that day remains a mystery.

On that fateful day, markets made new highs with BSESENSEX…

Tata Steel to consider scheme for merger of Indian Steel & Wire Products, calls shareholders meeting on Jan 25

New Delhi (IANS) A meeting of the equity shareholders of Tata Steel Limited is scheduled to be held on January 25 to consider and approve the 'Scheme of Amalgamation' amongst Tata Steel Limited and The Indian Steel and Wire Products Limited…

Undisclosed global client terminates $1.5bn AI deal with Infosys

New Delhi (IANS) IT major Infosys on Saturday announced that a global client has decided to terminate the Memorandum of Understanding (MoU) for a $1.5 billion deal focused on artificial intelligence (AI) solutions.

The 15-year deal was signed…

Over 35K lose jobs at Indian startups, job cuts to continue in 2024

New Delhi (IANS) More than 35,000 people have lost jobs at Indian startups in the last two years, and job cuts will likely continue unabated as we enter 2024.

In 2022, more than 18,000 employees were fired by Indian startups from across verticals,…

Nifty midcap100 up 44% while Nifty smallcap100 surges 54%

New Delhi (IANS) Domestic markets are ending the year 2023 on a buoyant note as Nifty scales above 21,500 mark while Sensex crosses 71,000. Investor’s sentiments got a big boost in November and December which helped both domestic as well as global…

Shareholders approve Byju’s FY22 audited financials

New Delhi (IANS) Edtech major Byju’s shareholders have approved the company’s audited financials for the fiscal year 2022 at its high-voltage Annual General Meeting (AGM).

The AGM also cleared a resolution on the reappointment of MSKA & ASSOCIATES,…

RBI directs banks to roll out Card-on-File token facility for customers

Mumbai (IANS) The RBI has issued a circular to all banks for introducing the Card-on-File (CoF) token facility at the level of banks and other institutions to provide convenience for cardholders to get tokens created and linked to their existing…

Centre rakes in Rs 26,644 cr as dividend from CPSEs

New Delhi (IANS) The central government has realized Rs 26,644 crore as dividend receipts from the Central Public Sector Enterprises (CPSEs) so far (as on December 4) during the current financial year, the Finance Ministry said on Wednesday.

Dividend…

Sharp up-move in IT stocks implying faster demand inflection than what Accenture commentary indicates

New Delhi (IANS) Accenture’s 1QFY24 growth albeit within its guided band was the slowest since the pandemic and interestingly, incremental deceleration over the past couple of quarters has come from Managed Services, a closer proxy for India IT Services…