News Archives - Page 36 of 40

Abhinav Bindra honored with Olympic Order award by IOC

23Jul

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News, Sports

Abhinav Bindra honored with Olympic Order award by IOC

Olympic gold medalist Abhinav Bindra was honored with the Olympic Order by the International Olympic Committee (IOC) on Monday. He was awarded the highest honor for "outstanding services to the Olympic Movement". He will be given the honor at a ceremony at the 142nd IOC Session, which will take place in Paris on August 10."Bindra is the first Indian to win a gold medal in an individual event at the Olympic Games". He achieved this feat by winning the gold medal in the men's 10 meter air rifle event at the 2008 Beijing Olympics. After retiring from sports after Rio 2016, Bindra has actively promoted sports through his foundation – "Abhinav Bindra Foundation". The Foundation primarily focuses on applying sports science and developing the Indian sports ecosystem. what is the olympic order...

Airbus shortlists eight sites for H125 helicopter final assembly line in India

22Jul

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Business, News

Airbus shortlists eight sites for H125 helicopter final assembly line in India

European major Airbus has shortlisted eight sites in India to set up its final assembly line for H125 helicopters and the ground-breaking ceremony for the facility is expected to take place later this year.Airbus officials said the facility, which will be the fourth final assembly line (FAL) for the single-engine H125, will initially produce 10 helicopters annually and the capacity will be increased depending on market demand."India is the future market for helicopters... Currently, the market is extremely nascent, very small compared to what the potential could be," said Oliver Michelon, executive vice president, Global Business, Airbus Helicopters.The foundation stone laying ceremony for FAL is expected to take place in October or November this year and the facility will be commissioned...

RIL profit down 5.45% in June quarter due to weak oil-to-chemicals business, higher depreciation

20Jul

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Business, News

RIL profit down 5.45% in June quarter due to weak oil-to-chemicals business, higher depreciation

Reliance Industries Ltd (RIL) has reported 5.45 percent decline in net profit at Rs 15,138 crore during the quarter ended June 2024 compared to Rs 16,011 crore during the same period a year ago due to weak O2C business and higher depreciation. Was. On a sequential basis, net profit declined 20.12 percent to Rs 18,951 crore in the March 2024 quarter.RIL's total income rose 11.90 percent to Rs 240,200 crore during the June 2024 quarter from Rs 214,644 crore a year ago.The company's oil-to-chemicals (O2C) EBITDA was down 14.3 percent due to lower gasoline cracks (-30 percent) and lower downstream chemical deltas, particularly PE (-17 percent), PP (-16 percent). ) and integrated polyester margin (-15 percent). Depreciation increased 15.5 percent to Rs 13,596 crore ($1.6 billion) due to expand...

Rupee relapse by 6 paise and closed at an all-time low of 83.64 against the US dollar

19Jul

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Business, News

Rupee relapse by 6 paise and closed at an all-time low of 83.64 against the US dollar

The rupee on Thursday weakened by 6 paise to close at 83.64 (provisional) against the US dollar as the strength of the US currency in the overseas market and overnight rise in crude oil prices weighed on investor sentiments.Forex traders expect the rupee to trade with a slight negative bias due to the strong US dollar and weak Asian and European currencies. The US dollar strengthened while the pound weakened amid disappointing UK labor market data.However, positive domestic markets and foreign fund inflows somewhat mitigated the decline in the domestic unit. At the interbank foreign exchange market, the local unit opened at 83.57, and touched an intraday high of 83.55 and low of 83.66 against the dollar during the trading session.It finally closed at 83.64 (provisional) against the US cur...

Nawazuddin Siddiqui told he felt guilty after doing Rajinikanth’s film Petta

18Jul

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Entertainment, News

Nawazuddin Siddiqui told he felt guilty after doing Rajinikanth’s film Petta

Actor Nawazuddin Siddiqui said he doesn't care about money, but admitted that the only reason he works in South Indian industries is that they pay well.In an interview, the actor admitted that he is 'cheating' in his performances in these South films, as he does not have complete control over his characters, and he needs someone to explain his lines before filming, because the money is so good, he chose to participate.In conversation with Filmfare, Nawaz was asked about his move to the 8South, where he has worked in films starring Rajinikanth and Venkatesh. Admitting that he experiences a 'lack of control' on these performances, he said, "When I am doing something like Raman Raghav, I am in control of my emotions, my thoughts, my soul.When I do South films, I am not so sure. But since I'm...

Bajaj Auto Reduce; Target Rs 8300: Emkay Global Financial

17Jul

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Business, News

Bajaj Auto Reduce; Target Rs 8300: Emkay Global Financial

BJAUT reported stable Q1 (revenue/EBITDA growth of 16%/24% YoY; 20.2% EBITDA margin, aided by 50bps of PLI gain). Domestic 2W prospects are good, although BJAUT's position has now fallen (even in 125cc motorcycles); The reaction to the newly-launched CNG motorcycle needs to be monitored. MGMT is guided to make export recovery gradual, and its focus on Triumph is to build brand awareness. However, valuations remain expensive (trades close to 2SD above LTA, at 28x per FY26E).outlookWe raise FY26E EPS by ~2.6% (higher margin) and raise FY27 estimates (13% FY24-27E EPS CAGR); We retain REDUCE and revise TP to Rs8,300/sh (rollover from core 23x multiple to Jun-26E) + Rs900 cash and investments/sh. Amid growth/rerating triggers (successful Xtreme 125R launch) and attractive risk-reward, we pref...

Automobile retail sales progress 9% in April-June: FADA

16Jul

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Business, News

Automobile retail sales progress 9% in April-June: FADA

Dealers' body FADA on Monday said that automobile retail sales grew by 9 percent year-on-year in the June quarter of FY25, with all segments except tractors registering increment. Total retail sales increased to 61,91,225 units in the April-June period from 56,59,060 units in the same quarter of FY24. Passenger vehicle retail sales rose 2.53 percent to 9,20,047 units from 8,97,361 units a year ago. He said dealers reported significant impacts from the election, extreme heat and liquidity issues in the market. Singhania said showroom footfalls declined 18 percent in May due to extreme heat, with inventory levels reaching a 62-67-day high by the end of June. He said that "Despite substantial discounts aimed at increasing product availability and growing demand, market sentiment rem...

SBI has jump lending rates by 5-10 bps for most tenures from today

15Jul

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Business, News

SBI has jump lending rates by 5-10 bps for most tenures from today

State Bank of India (SBI) has increased its marginal cost of lending rates (MCLR) by 5 to 10 basis points (bps) for most tenures from today, July 15. Shares of State Bank of India, India's largest public sector bank (PSB), are trading at ₹868.00, up 0.97 percent from its previous close. SBI MCLR increase MCLR on overnight lending period increased by 5 bps to 8.10 percent.MCLR on loan tenure of one month increased by 10 bps to 8.35 percent.MCLR on loan tenure of three months increased by 10 bps to 8.40 percent.MCLR on loan tenure of six months increased by 10 bps to 8.75 percent.MCLR on loan tenure of one year increased by 10 bps to 8.85 percent.MCLR on loan tenure of two years increased by 10 bps to 8.95 percent.MCLR on loan tenure of three years increased by 5 bps to 9.00 percent.L...

As income tax overtook corporation tax, net direct tax collections upsurge by nearly 20 percent

13Jul

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Business, News

As income tax overtook corporation tax, net direct tax collections upsurge by nearly 20 percent

Personal income tax collections are overtaking corporate tax collections, with cumulative net direct tax collections rising by nearly 20 percent to Rs 5.74 lakh crore during the period April 1 to July 11 of the current financial year (2024-25), Income Tax Department said in a statement late Friday night. Personal income tax collections continue to exceed corporate tax collections, with Securities Transaction Tax (STT) collections more than doubling to Rs 16,634 crore in FY20. Direct taxes essentially include personal income tax and corporate tax. STT collections, which are counted in the overall personal income tax collections, have increased due to the sharp increase in stock market trading activity. In FY24, STT collection from April 1 to July 11 was Rs 7,285 crore.Personal income ta...

Shipping Corporation of India stock up 40% in 3 sessions, increase 16.5%

12Jul

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Business, News

Shipping Corporation of India stock up 40% in 3 sessions, increase 16.5%

Shipping stocks continued their impressive rally for the second consecutive session on Friday, with Shipping Corporation of India (SCI) rising 16.40% to hit a record high of ₹384.20 per share. In the previous trading day, the stock had touched the upper circuit limit of 20% due to positive developments. This recent rally in the stock has propelled it upturn 40% in 3 sessions and 113% so far in the current year.Indian Oil Corporation Limited (IOCL), the country's largest oil marketing company and refiner, is being considered as the preferred partner for this joint initiative with SCI.India currently accounts for less than 1% of the global shipbuilding market, which is dominated by China, South Korea and Japan, and has never produced an oil tanker before. The proposal is in line with the go...