'Suspicious' payout that exposed Rs 16,000 cr scam bigger than PNB con

Mumbai (IANS) It was one innocuous transaction among lakhs conducted daily, that was detected by a digital payments company and which finally helped blow the lid off a web of fraudulent transactions worth over Rs 16,180-crore – bigger than the Punjab…

ICICI Bank logs Q2 PAT of Rs 10,261 crore

Mumbai (IANS) Private sector ICICI Bank on Saturday said it closed the second quarter of FY24 with an increased net profit of Rs 10,261 crore.

In a regulatory filing, it said that for the quarter ended September 30, it had earned a total interest…

Global spending on GenAI software, solutions to reach $143 bn in 2027

New Delhi (IANS) Global spending on generative AI (GenAI) software and solutions is expected to reach $143 billion in 2027 with a compound annual growth rate (CAGR) of 73.3 per cent, according to a new report.

This is more than twice the rate…

Samsung leads India smartphone market in Q3 with 18% share

New Delhi (IANS) Samsung maintained its top position in the Indian smartphone market in the third quarter (Q3) with a market share of 18 per cent and a shipment of 7.9 million units, according to a new report.

Xiaomi advanced to the second…

Kotak Mahindra gets RBI nod to acquire Sonata Finance for Rs 537 crore

Mumbai (IANS) Kotak Mahindra has received RBI’s approval to acquire Sonata Finance for Rs 537 crore, the bank said in informed the Bombay Stock Exchange on Friday.

“We now wish to update you that the RBI has, vide its letter dated October 19,…

Gold prices rise to 3-month high on back of safe-haven demand

Mumbai, (IANS) Gold prices rose to a three-month high on Friday and were headed for a second consecutive weekly gain, on the back of a safe-haven demand due to the Middle East conflict and expectations that the US Federal Reserve was likely to pause…

Zomato shares worth Rs 1,040 cr change hands in bulk deal, Softbank likely seller

New Delhi (IANS) Nearly 9.28 crore equity shares of online food delivery platform Zomato worth Rs 1,040 crore were offloaded on Friday in a bulk deal, likely by SoftBank.

Japanese investment giant SoftBank, via its affiliate SVF Growth (Singapore)…

Israel-Hamas conflict negatively impacts market confidence

New Delhi (IANS) Nifty concluded on a downbeat tone, following the lead of the global market, with the majority of sectoral indices also doing so, said Vaibhav Vidwani, Research Analyst, Bonanza Portfolio.

The Nifty metal was down by 0.88 per…

Imports of laptops, servers for sale in market not exempt from licensing in new rules

New Delhi (IANS) The government issued a notification on Thursday stating that notified IT hardware items essential for Capital Goods are exempt from import licensing requirements.

For instance, laptops/tablets accompanying machinery such as…

Suzuki eyes to make India its global electric car manufacturing hub

New Delhi (IANS) Maruti Suzuki's parent Suzuki Motor Corporation plans to make India its global electric car manufacturing hub with the first batch of vehicles expected to be rolled out as early as 2025, according to a news report.

Suzuki…