Former HDFC chairman Deepak Parekh and ICICI Bank chief Chanda Kochhar MUMBAI: Former HDFC chairman Deepak Parekh, in a candid disclosure, said that then ICICI Bank chief Chanda Kochhar had proposed a merger between the two lenders – well before HDFC’s eventual reverse merger with its banking subsidiary. During an interaction with Kochhar on her…
US stocks traded in a narrow range on Friday, returning from the Juneteenth holiday to a market still clouded by geopolitical uncertainty and inflation concerns. The S&P 500 slipped 0.2% in midday trading, while the Nasdaq Composite dropped 0.6%. The Dow Jones Industrial Average rose 45 points, or 0.1%, as of 11 am Eastern Time.Bond…
RBI Governor Sanjay Malhotra said a front-loaded interest rate cut would offer clarity and confidence to economic agents and support growth as the global environment remains volatile, according to minutes of the June monetary policy meeting released on Friday.The Monetary Policy Committee (MPC), headed by Malhotra, cut the repo rate by 50 basis points on…
Navratna Defence Public Sector Undertaking Bharat Electronics Limited (BEL) has secured fresh orders worth Rs 585 crore since its last disclosure on June 5, the company said in a stock exchange filing.Major components of the new orders include fire control and sighting systems for missiles, communication equipment, jammers, spares, and services, according to the disclosure…
Accenture on Friday reported an 8% year-on-year rise in revenue to $17.7 billion for the March-May quarter of FY25, supported by growing demand for AI-related services. The Ireland-headquartered IT services firm, which follows –a September-August fiscal calendar, also raised the lower end of its full–year revenue growth guidance to 6-7% in local currency from 5-7%…
State-owned telecom firm BSNL has entered the 5G fixed wireless access (FWA) space, launching its home broadband service in Hyderabad, the company said on Friday. The move pits BSNL against private sector giants Reliance Jio and Bharti Airtel, which are already offering similar services using their 5G spectrum.“Quantum 5G FWA demonstrates how Indian engineers can…
A US Federal Reserve official said Friday that the central bank could start cutting interest rates as soon as next month, signaling flexibility amid global economic uncertainty and rising geopolitical risks.“We can start the process of bringing rates down, and then if there’s some big shock due to maybe the Middle East conflict, we can…
BENGALURU: Campus Fund, a venture capital firm focused on student and dropout-led startups, has announced a $100 million third fund, its largest to date. The fund has completed its first close with more than 50% of the capital already committed and has begun deploying capital with two investments already made.Founded by Richa Bajpai, Campus Fund…
ITR filing FY 2024-25: Pre-filling of ITR forms has several advantages. (AI image) Income Tax Return Filing FY 2024-25: The Income Tax Department has been aiming to make the e-filing of income tax returns easier for taxpayers, and one such step in that direction is pre-filled ITR forms. If you have been filing tax returns,…
Tesla’s first retail location is scheduled to open in Mumbai by mid July. (AI image) Elon Musk-led Tesla plans to inaugurate its first showrooms in India this July, according to informed sources, marking its official entry into the world’s third-largest car market, as the company seeks expansion amidst declining sales in European and Chinese markets.The…
