HCL Tech Q4 net profit flat at Rs 3,986 cr

India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. Photograph: PTI Photo from the Rediff Archives However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as decent in view of the global macroeconomic conditions.   The company posted a consolidated net ...
Rediff.com, 15 hour(s) ago
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Markets snap five-day rally; Sensex tumbles over 600 pts

Market benchmarks Sensex and Nifty wilted under selling pressure on Friday after a five-day rally as investors pared exposure to banking, financial and consumer durable stocks amid mixed trends in global markets. Photograph: Danish Siddiqui/Reuters Rising global crude prices, a depreciating rupee and persistent foreign fund outflows further weighed on sentiment, traders said. Profit-taking also came into play as the 30-share BSE Sensex tanked 609.28 points or 0.82 per cent to settle at ...
Rediff.com, 21 hour(s) ago
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NDTV earning jumps 59%, digital traffic up 39%

News broadcaster NDTV Ltd on Friday reported a 59 per cent jump in March quarter revenue as it expanded digital footprint, gaining a 39 per cent rise in traffic. Illustration: Dominic Xavier/Rediff.com Consolidated net loss of Rs 8.74 crore in January-March compared with loss of Rs 1.35 crore profit in the same period a year back, according to a stock exchange filing by the company. Loss, however, narrowed from Rs 10.13 crore in the December quarter as its digital footprint expanded and ...
Rediff.com, 14 hour(s) ago
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Swiggy gets one step closer to $1.25 bn IPO

Shareholders’ nod to raise $450 mn via fresh issue, $800 mn via OFS Photograph: PTI Photo from the Rediff Archives Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an ...
Rediff.com, 16 hour(s) ago
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India's forex kitty drops $2.28 bn to $640.33 bn

India's forex reserves decreased $2.282 billion to $640.33 billion for the seven days ended April 19 in the second consecutive week of drop in the kitty, the Reserve Bank of India (RBI) said on Friday. Photograph: Dado Ruvic/Reuters The reserves had dropped $5.40 billion to $643.16 billion in the previous reporting week, ending a multi-week trend of an increase, which also saw the overall reserves touching a new all-time high of $648.56 billion for the week ended April 5. In September 2021, ...
Rediff.com, 17 hour(s) ago
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Above-normal monsoon likely to ease food prices: FinMin

With the prediction of an above normal monsoon in 2024, the government is expecting food prices to come down, the finance ministry’s monthly economic report for March has said. Photograph: Amit Dave/Reuters The report, released on Thursday, said robust foreign inflows and comfortable trade deficits were expected to keep the rupee within a comfortable range. “Further easing of food prices is on the anvil as IMD (India Meteorological Department) has predicted above-normal rainfall ...
Rediff.com, 1 day(s) ago
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Kotak Mahindra Bank's loan, deposit growth may be impacted after RBI curbs

Kotak Mahindra Bank’s loan and deposit growth are likely to be affected after the Reserve Bank of India (RBI) asked the private-sector lender not to take on board new customers through the bank’s online and mobile banking channels and not to issue any new credit cards, according to analysts. Photograph: Adnan Abidi/Reuters The bank’s share price fell 10.85 per cent on Thursday to close the day at Rs 1,643 on the BSE. The RBI’s action came after market hours on ...
Rediff.com, 1 day(s) ago
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Deloitte pegs India's FY25 GDP growth at 6.6%

Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. Photograph: Anushree Fadnavis/Reuters In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two ...
Rediff.com, 1 day(s) ago
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Good times ahead for United Breweries as heatwave, IPL set the tone

A cocktail of heatwave and upcoming cricketing events is expected to usher in the peak season for the country’s largest beer maker, United Breweries. Photograph: Rupak De Chowdhuri/Reuters The beer maker, which has gained share in some key markets, will be a major beneficiary as April to July is an important period contributing to 40-45 per cent of its annual beer volumes. Going ahead, the T20 Cricket World Cup in June and the ongoing IPL will have a positive impact on volumes and ...
Rediff.com, 1 day(s) ago
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Tech Mahindra jumps over 12% in opening trade

Equity benchmark indices climbed in early trade on Friday, extending their rally for the sixth day running, on heavy buying in Tech Mahindra and firm trends in Asian markets. Photograph: Adnan Abidi/Reuters The 30-share BSE Sensex climbed 176.47 points to 74,515.91 in early trade. The NSE Nifty went up by 50.05 points to 22,620.40.   From the Sensex basket, Tech Mahindra jumped over 12.50 per cent after the IT services company's CEO outlined an ambitious three-year roadmap to accelerate ...
Rediff.com, 1 day(s) ago
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