The government will launch an open network for digital commerce (ONDC) as the government tries to end the dominance of U.S. companies Amazon.com and Walmart in the fast-growing e-commerce market, a government document showed. The launch of the platform comes after competition commission of india on Thursday raided domestic sellers of Amazon and some of Walmart’s Flipkart following accusations of competition law violations.
Axis Bank: The bank posted a 54% rise in fourth-quarter profit after earnings were helped by robust growth in loans and lower provisioning. Net income was 41.2 billion rupees ($538 million) in the January to March quarter, compared with 26.8 billion rupees a year earlier.
Tata Power: The Tata group firm has inked a pact with National Real Estate Development Council (NAREDCO) to install 5,000 EV charging points across Maharashtra, a statement said on Thursday. Tata Power will provide a comprehensive EV charging solutions across properties of member developers of NAREDCO, the statement said.
Colgate Palmolive: The company appointed Prabha Narasimhan as CEO and MD for five years effective September 1. Current MD and CEO Ram Raghavan resigned after being promoted as the President – Enterprise Oral Care, Colgate-Palmolive Company, New York. It also declared second interim dividend of Rs 21 per share of face value of Rs 1 each.
Vedanta: Profit skids 5 percent; revenue spikes 41 percent. Billionaire Anil Agarwal-owned Vedanta reported a 5 percent year-on-year decline in consolidated profit at Rs 7,261 crore in the quarter ended March 2022 impacted by higher tax cost and expenses, but saw healthy topline and operating income Moving on to markets
Indian indices are likely to witness a flat start on Friday.
On Thursday, the markets bounced back strongly after registering losses in the previous session.
However, the global indices were bolstered by upbeat technology earnings in the US, brushing aside fears of economic slowdown.
The Wall Street indices ended sharply higher in Thursday’s overnight session after reports of strong quarterly results by Facebook parent Meta
In Asia, shares rose in South Korea, Shanghai, and Australia, while that in Hong Kong declined in early trade on Friday.
Business Term of the day
A hostile takeover occurs when an acquiring company attempts to take over a target company against the wishes of the target company’s management. An acquiring company can achieve a hostile takeover by going directly to the target company’s shareholders or fighting to replace its management.
In this episode, find out about Maruti Suzuki's Q1 sales figure, also about ED raid on Hero Motocorp chairperson Pawan Munjal. Business Term of the Day: Remittance Read more
In this episode, find out about Maruti Suzuki's Q1 sales figure, also about ED raid on Hero Motocorp chairperson Pawan Munjal. Business Term of the Day: Remittance Read more
In this episode, find out about SBI's fund raising via infrastructure bonds, also about promoter Padmaja Reddy selling stake in Spandana Sphoorty. Business Term of the Day: Alterna ... Read more
In this episode, find out about SBI's fund raising via infrastructure bonds, also about promoter Padmaja Reddy selling stake in Spandana Sphoorty. Business Term of the Day: Alternate Investment Fund (AIF) Read more
In this episode, find out why TCS announces change in senior management, also about Power Grid fund raising plan of upto Rs 5700 Cr via private placement of bonds. Business Term of ... Read more
In this episode, find out why TCS announces change in senior management, also about Power Grid fund raising plan of upto Rs 5700 Cr via private placement of bonds. Business Term of the Day: Angel investor Read more
In this episode, find out why ITC Ltd chose to retain 40% in de-merged ITC hotels, also about US court denying Go First emergency arbitration. Business Term of the Day: Arbitration Read more
In this episode, find out why ITC Ltd chose to retain 40% in de-merged ITC hotels, also about US court denying Go First emergency arbitration. Business Term of the Day: Arbitration Read more
In this episode, find out why Tata Motors is looking to convert its DVR shares into ordinary shares, also about Marico's deal with Satiya Nutraceuticals. Business Term of the Day: ... Read more
In this episode, find out why Tata Motors is looking to convert its DVR shares into ordinary shares, also about Marico's deal with Satiya Nutraceuticals. Business Term of the Day: Differential Voting Rights Read more
In this episode, find out why institutional investors voted against ACC, Ambuja resolutions, also about the fraud at Can Fin Homes. Business Term of the Day: Green finance Read more
In this episode, find out why institutional investors voted against ACC, Ambuja resolutions, also about the fraud at Can Fin Homes. Business Term of the Day: Green finance Read more
Description – In this episode, find out about ITC's de-merger plans also about Samvardhana Motherson's new global acquisition. Business Term of the Day: ChatGPT Read more
Description – In this episode, find out about ITC's de-merger plans also about Samvardhana Motherson's new global acquisition. Business Term of the Day: ChatGPT Read more
In this episode, find out why Reliance Industries reported decline in Q1 profit, also about HDFC Bank's growth target for this fiscal year. Business Term of the Day: Non-banking fi ... Read more
In this episode, find out why Reliance Industries reported decline in Q1 profit, also about HDFC Bank's growth target for this fiscal year. Business Term of the Day: Non-banking finance company Read more
In this episode, find out why Arbitrator has rejected Max healthcare's claim on Care Hospital, also about L&T's first share buyback plan. Business Term of the Day: Share buybac ... Read more
In this episode, find out why Arbitrator has rejected Max healthcare's claim on Care Hospital, also about L&T's first share buyback plan. Business Term of the Day: Share buyback Read more
In this episode, find out about BL Kashyap's contract from DLF, also about Piramal Pharma's capital raising plan. Business Term of the Day: Trust company Read more
In this episode, find out about BL Kashyap's contract from DLF, also about Piramal Pharma's capital raising plan. Business Term of the Day: Trust company Read more
