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SBI earned ₹23,038 crore in a quarter and its shares still fell 1.77%
State Bank of India reported a 14 per cent rise in standalone net profit to ₹23,038 crore for the September quarter, ahead of the ₹22,619 crore analyst consensus, on 18 per cent loan growth. The stock fell 1.77 per cent to ₹970.25 as analysts flagged one-off gains. The NSE separately posted a 23 per cent jump in profit to ₹2,578 crore.
₹50,000 crore on offer, ₹23,905 crore bid: RBI's liquidity drain draws a shrug
The RBI announced a ₹50,000 crore variable rate reverse repo operation after banking system liquidity reached nearly ₹2 lakh crore on Monday. Banks bid only ₹23,905 crore. The weighted average call rate eased to 5.45% from 5.50%, and another VRRR is scheduled for Wednesday.
Pay per token: E2E opens Blaze, an India-hosted AI inference service on Nvidia
E2E Networks launched Blaze on Tuesday, a pay-per-token inference service for open AI models with a single OpenAI-compatible endpoint. It runs on Nvidia GPU infrastructure and DSX OS components. The company's India-hosted AI factory capacity is being scaled to 14.6 MW.
Jio wants equity, not fees: talks with Comcast and Charter to licence its broadband tech
Jio Platforms is in talks with global telecom and cable firms including Comcast and Charter to licence its unlicensed band radio technology in exchange for possible equity stakes. Talks with South Africa's MTN fell through.
₹10.24 crore gone from Greater Noida PNB accounts; CBI arrests clerk and her associate
The CBI has arrested a PNB office assistant, Deepanshi, and her associate Ashutosh Kumar Pathak over the disappearance of ₹10.24 crore from accounts at the bank's Greater Noida branch. Pathak was picked up in Pune and granted transit remand. Complainants say the money taken from savings accounts and FDs was far higher.
NSE's first result after listing: profit up 23% to ₹2,578 crore, but the stock sits near its IPO price
NSE reported a 23% rise in consolidated net profit to ₹2,578 crore for the September quarter, its first set of earnings since listing. Transaction-charge revenue rose 9% to ₹3,035 crore and operating EBITDA more than doubled. MCX's profit jumped 130% to ₹454.57 crore, yet its shares fell about 7% on Wednesday.
Fifth day of gains: Nifty back above 23,900 as foreign funds return
The Sensex was up 309 points at 77,227 and the Nifty 98 points at 23,908 in afternoon trade on Wednesday, the fifth straight session of gains. Foreign investors bought Rs 6,837 crore of equities on Tuesday and Rs 25,400 crore over 11 sessions. Crude falling to $105 a barrel has helped.
Bus commute gets dearer from midnight: BMTC up 33-35%, KSRTC 23%
Transport Minister Byrathi Suresh announced fare revisions for all four state-run bus corporations on Wednesday. KSRTC fares rise 23% on average and BMTC 33-35%, with the new rates applying from Wednesday midnight. The minister said the aim was to cut losses, not to earn a profit.
Canva cuts 1,271 jobs, a fifth of its staff, and calls it the hardest year yet
Canva will cut, change or relocate 1,271 roles, about 22% of its global workforce, in a restructure announced by CEO Melanie Perkins. Growth slowed for the first time in a decade, she told staff. The company employs more than 5,700 people across 37 countries, including India.
Rs 53,866 crore for eight warships the Navy designed itself
The Defence Ministry signed contracts with GRSE and Goa Shipyard on Monday for eight Next Generation Corvettes, the first project where the Navy's own design goes to defence PSU yards picked through competition. GRSE shares rose over 4 per cent on Tuesday. The first ship is due in 2030.
Airtel and Carlyle put $1 billion into Nxtra, valuing the data centre arm at $3.1 billion
Bharti Airtel, Carlyle, Alpha Wave Global and Anchorage Capital will invest $1 billion in Nxtra Data, Airtel's data centre arm. Alpha Wave puts in $435 million, Carlyle $240 million, Anchorage $35 million and Airtel about $290 million. The deal values Nxtra at around $3.1 billion, up from $1.2 billion in 2020.
UPI clocks a record 25.47 billion transactions in October as daily value tops Rs 1 lakh crore
UPI recorded 25.47 billion transactions in October, and the daily value of transactions crossed Rs 1 lakh crore for the first time. Razorpay received its final IFSCA licence to run cross-border payments from GIFT City in the same month. MobiKwik posted a record quarterly profit of Rs 11.8 crore, while Capillary Technologies turned profitable with Rs 22 crore on Rs 271 crore of revenue.
GST mop-up crosses ₹2.31 lakh crore in October; UPI sets a new record at 25.47 billion
Gross GST collections for October stood at ₹2.31 lakh crore, about 23% higher than a year earlier, while UPI logged a record 25.47 billion transactions with daily value crossing ₹1 lakh crore. The manufacturing PMI eased to 54.7 from 55.1 in September, still firmly in expansion.
In one afternoon, SBI's ₹23,038 crore, ITC's 18.7% slide and Marico's 10% leap
State Bank of India reported a 14.3 per cent year-on-year rise in Q2FY27 net profit to ₹23,038 crore, helped by higher net interest income and lower provisions, with gross NPA down to 1.39 per cent. ITC's consolidated net profit fell 18.7 per cent to ₹4,168 crore. Marico's profit rose 29.16 per cent and its stock jumped about 10 per cent.
Tata Motors plants a global flag: Iveco deal creates a Rs 2.28 lakh crore giant
Tata Motors and Italy's Iveco Group announced their coming together at a global press meet in Turin on Tuesday. The combined business has revenues of about 21 billion euros, or over Rs 2.28 lakh crore, and ranks fourth among commercial vehicle makers worldwide. Iveco will keep its headquarters in Turin.
Sensex adds 1,225 points, up 5% in four sessions; investors richer by Rs 4.74 lakh crore
The Sensex closed at 76,917.85 on Tuesday, up 1,225.07 points or 1.62 per cent, and the Nifty at 23,810.85, up 370.05 points. It was the fourth straight session of gains. Softer crude and returning foreign flows did the work, with FMCG leading the sectors.
From Sunday, your fund app will show the cheaper plan first
SEBI chairman Tuhin Kanta Pandey has said direct plans will become the default option on asset management companies' digital platforms from November 1. Investors who pick regular plans must be told about the higher expense ratio. Direct plans carry no distributor commission, so they cost less.
A Taj at Mumbai's T2 and a Ginger in Lucknow: Adani and IHCL line up eight airport hotels
Adani Airport Holdings and Indian Hotels Company have signed a multi-hotel operating agreement for eight hotels with more than 2,000 rooms in Mumbai, Ahmedabad, Lucknow and Guwahati. The properties will run under the Taj, Vivanta, Gateway and Ginger brands, mostly within three to four years.
A third straight loss and a ₹1,333-crore forex hit: IndiGo's quarter in two numbers
InterGlobe Aviation, which runs IndiGo, posted a consolidated loss of ₹1,879.1 crore for the September quarter against ₹2,582.1 crore a year earlier, its third straight quarterly loss, even as revenue rose 25.9% to ₹23,363.8 crore.
Dearness allowance goes to 63%: the arrears ride with this month's salary, the order says
The Finance Ministry has issued the order for a three-percentage-point DA and DR increase, taking both to 63% of basic pay and pension from July 1. It covers 48.54 lakh employees and 68.71 lakh pensioners, and costs Rs 10,016.10 crore a year.
A bank CEO, his daughter's NBFC and a licence: Equitas shares fall another 15%
Shares of Equitas Small Finance Bank fell about 15-16% on Friday, extending Thursday's 20% slide, after MD and CEO PN Vasudevan resigned with immediate effect, citing a perceived conflict of interest involving an NBFC co-promoted by his daughter that has received an RBI licence. Vasudevan, who will stay until a successor takes over, said the decision was not taken overnight and that the board has begun the search.
Yes Bank gets three working days to revive ₹8,415 crore of bonds it wrote off in 2020
Axis Trusteeship has asked Yes Bank to restore ₹8,415 crore of additional tier-1 bonds written off in March 2020, after the Supreme Court upheld a Bombay High Court ruling setting aside the write-off. The notice gives the bank three working days and seeks clarity on unpaid coupons. A bondholder meeting is called for November 16.
10,000 km of fibre for AI: Tata Communications bets ₹4,350 crore on data centre corridors
Tata Communications will spend ₹4,350 crore, or $400-450 million, to lay about 10,000 km of long-haul fibre linking India's AI and data centre hubs, funded from operating cash flows. The first phase covers Mumbai, Pune, Hyderabad and Chennai. The company expects to add about 6 petabits per second of capacity between FY2030 and FY2036.
Tankers burning in Hormuz and drones over Mecca: Brent at $117.7 is India's problem too
Iran said four tankers caught fire after hitting mines in the Strait of Hormuz, a day after the US military said key routes had been cleared, while Yemen's Houthis claimed six attacks on Saudi airports and oil facilities. Brent crude rose 2.3% to $117.7 in Asian trade, its highest intraday level since April 30. India imports most of its crude.
ED searches homes of two chartered accountants over a Jharkhand power plant loan that never reached the plant
The Enforcement Directorate searched premises in Kolkata's Lake Town and in Uttarpara on Friday in a ₹290 crore bank fraud and money laundering case. The probe concerns a loan taken for a 66-MW power plant in Jharkhand by Kohinoor Power Private Limited, which investigators allege was routed through shell companies instead of being spent on the project.
One engineer's laptop, $6.3 billion gone: Binance says it will repay every user
Binance put the impact of its security breach at about $6.3 billion, the largest crypto theft on record, and said roughly $3 billion has been frozen on-chain. The exchange's preliminary probe points to a compromised DevOps engineer's laptop that gave an attacker access to a service container. Binance says the SAFU fund will cover all losses and withdrawals resume within 45 hours.
Trent and Infosys lift the Sensex 308 points, but small-cap investors get no such relief
The Sensex closed 308.49 points, or 0.42%, up at 74,459.53 and the Nifty gained 116.35 points, or 0.51%, to end at 23,053.10 on Friday, the second straight session of gains. Trent rose 5.20% after a 25% jump in September-quarter profit. The Nifty Smallcap 100 fell 1.85% and Brent crude closed above $117 a barrel.
Court tells CBI it cannot re-open charges in the Rs 34,000 crore DHFL case
A Delhi court has refused the CBI's request to alter charges against former DHFL CMD Kapil Wadhawan, former director Dheeraj Wadhawan and businessman Ajay Ramesh Nawandar in the Rs 34,000 crore bank fraud case. In an order dated October 29, Special Judge Sanjeev Kumar Malhotra said the court cannot review its own charge-framing order except to fix clerical or typographical errors.
₹80,000 crore and 10,000 jobs: Agarwal brings Vedanta's first Bengal bet to Nabanna
Vedanta chairman Anil Agarwal said the group is exploring ₹70,000-80,000 crore of investment in West Bengal for power generation and an aluminium smelter, likely at Asansol. Chief Minister Suvendu Adhikari said the project could create 10,000 direct jobs. A feasibility study comes first.
Google opens AI Mode to ads in India as Alphabet's profit slides 25%
Google will run labelled 'Sponsored' ads inside AI Mode in 10 markets including India, after Alphabet's September quarter missed estimates. Revenue rose 25% to $127.6 billion but net profit fell 25% and free cash flow stayed negative. The stock dropped 10% after hours.