Business

New Delhi: The auction of 5G spectrum for ultra-high-speed internet services entered day four on Friday after garnering bids worth Rs 1,49,623 crore in 16 rounds of bidding conducted so far. The high interest for spectrum in the 1800 MHz band in Uttar Pradesh East circle saw Jio and Airtel locked in intense bidding on […]

San Francisco: Despite the global macro-economic environment, Apple saw a record June quarter with 2 per cent (year-over-year) revenue increase at $83 billion, riding on a 12 per cent sales increase in services. iPhone revenue was up from $39.5 billion to $40.7 billion in the April-June period — a 3 per cent increase from the same […]

Mumbai: The rupee appreciated 30 paise to 79.39 against the US dollar in opening trade on Friday, buoyed by fresh foreign fund inflows into capital markets and a firm trend in the domestic equities. Besides, a weak greenback overseas against key rivals supported the local unit, traders said. At the interbank foreign exchange, the rupee […]

Mumbai: Benchmark indices continued to rally for the third day running on Friday with the Sensex climbing 619 points in early trade to reclaim the 57,000 level. The 30-share BSE benchmark jumped 619.27 points to 57,477.06. The broader NSE Nifty advanced 189.15 points to 17,118.75. Among the Sensex constituents, Tata Steel, Bajaj Finserv, Asian Paints, […]

Hyderabad: Packaging products company AGI Greenpac (formerly known as HSIL) recorded a profit of Rs 66 crore for the June quarter. This is close to six-fold increase from Rs 11.2 crore it registered in the corresponding period last year. Its revenues were Rs 523.6 crore, up from Rs 419.94 crore last year. Its expenses were […]

Hyderabad: Pharma major Dr Reddy’s Laboratories (DRL) reported a profit after tax of Rs 1,188 crore for the June quarter. This is an increase of Rs 108% from Rs 570.8 crore during the corresponding period last year. Its revenues during the June quarter were Rs 5,215 crore, up 6% from Rs 4,919 crore. During the […]

Hyderabad: Hyderabad-based Zenara Pharma, a fully owned subsidiary of Biophore India Pharmaceuticals, has announced that it has received approval from the Central Drugs Standard Control Organization (CDSCO) to manufacture and market Nirmatrelvir and Ritonavir tablets in a combi pack as a treatment option for patients with mild to moderate symptoms of Covid-19 in adults. The […]

Chennai: India’s demand for gold will be between 800-850 tonne in 2022, said a top official of World Gold Council-India. He also said 80 per cent of the demand will be for jewellery and the balance in the form of gold coins. The gold demand in India for 2022 will be above 800 tonne. It will […]

Mumbai: The already buzzing Indian Information Technology (IT) sector got a shot in the arm when the industry body National Association of Software and Service Companies (Nasscom) predicted that the sector will grow twice as much the Indian gross domestic product (GDP) in the last financial year. It is around $227 billion industry, which added […]

Mumbai: The rupee appreciated 14 paise to 79.77 against the US dollar in early trade on Thursday tracking the overnight weakness of the American currency. However, higher oil prices, month-end importer demand and global recession fears could restrict the gains for the local unit, forex traders said. At the interbank foreign exchange, the rupee opened […]

New Delhi: The auction for the 5G telecom spectrum has garnered bids worth Rs 1,49,454 crore at the end of the second day and the bids for the much-awaited spectrum sale are extended for the third day. A comparison of the two-day figures shows that the 5G spectrum auction fetched Rs 71,639.2 crore more than […]

Hyderabad: Hyderabad-based pharma company Laurus Labs reported a profit after tax of Rs 251 crore for the June quarter. This is an increase of four per cent over last year. Its revenues were Rs 1,539 crore, up 20% over the corresponding period last year. Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) was Rs […]

Hyderabad: On July 24, the Reserve Bank of India (RBI) extended the deadline for credit and debit card tokenization by three months, to September 30, from the previous deadline of June 30. The RBI has directed payment aggregators, wallets, and online merchants (other than card issuers/card networks) not to store any sensitive card-related customer information, […]

Mumbai: Benchmark indices fell in early trade on Wednesday amid weak trends in global markets, fresh funds outflows and firm crude oil prices. The 30-share BSE benchmark declined 75 points to 55,193.49 points in the early trade. The broader NSE Nifty dipped 33.6 points to 16,450.25 points. Among the Sensex constituents, Bajaj Finserv, Bharti Airtel, […]

Mumbai: The rupee depreciated 10 paise to 79.88 against the US dollar in opening trade on Wednesday tracking the strength of the greenback in the overseas market and firm crude oil prices. At the interbank foreign exchange, the rupee opened at 79.83 against the US dollar, then fell to 79.88 against the greenback, registering a […]

New Delhi: Department of Telecom received total bids worth Rs 1.45 lakh crore on the first day of the much-awaited auction of the 5G telecom spectrum, said Union Communications Minister Ashwini Vaishnaw. Industry estimates put auction sales to surpass Rs 80,000 crore to Rs 90,000 crore. Four rounds of auction of the 5G spectrum were […]

Hyderabad: Putting technology to solve societal problems, city-based A-Eye.ai has used camera vision technology to evolve products that come handy in traffic management, security management at hotels, IT Parks and housing societies and also help the toll operators in optimising their revenue stream. Coming back from a Covid hit in the last two years, the […]

New Delhi: Leading insuretech platform Policybazaar has admitted it was hit by a cyber security incident last week but no significant customer data was exposed. In a stock exchange filing, the platform which sells several insurable coverage, said that on July 19, certain vulnerabilities were identified in Policybazaar IT systems and the same were subject to […]

New Delhi: Continuing its growth in India driven by local manufacturing, Apple sold over 1.2 million iPhones in the country in the second quarter (Q2) this year, registering a massive 94 per cent growth (year-on-year), the data showed on Monday. According to data shared by market intelligence firm CyberMedia Research (CMR), the growth was driven by […]

New Delhi: Ride-hailing major Uber on Monday announced to bring Moove, its largest vehicle supply partner in the Europe, the Middle East and Africa (EMEA) market, to India to help people buy new vehicles using a percentage of their weekly revenue, first in Mumbai, Bengaluru and Hyderabad, and become its driver-partners. Founded in 2020, mobility […]

Mumbai: Benchmark indices fell in early trade on Monday with the BSE Sensex declining over 255 points, largely dragged down by Reliance Industries and weak global equity markets. The 30-share BSE benchmark fell 255.39 points to 55,816.84 in early trade. The broader NSE Nifty dipped 70.35 points to 16,649.10. Among the Sensex constituents, Reliance Industries […]

Mumbai: The rupee appreciated 9 paise to 79.81 against the US dollar in early trade on Monday, supported by the fall in crude oil prices. At the interbank foreign exchange, the rupee opened at 79.86 against the American dollar. In initial trade, the local currency witnessed a high of 79.81 and a low of 79.87 […]

Hyderabad: Innovation ecosystem enabler T-Hub launched its ninth cohort of Lab32 seed accelerator programme. It will focus on startups working in deep technology, artificial intelligence, machine learning, augmented reality(AR) and virtual reality, blockchain, metaverse, Web 3.0, fintech, agritech and healthTech. The curriculum will be based on guidance by consultants, mentors, and entrepreneurs to promote collaboration […]

Hyderabad: Olectra Greentech has bagged an order worth Rs 500 crore to supply 300 electric buses. The MEIL Group company, Evey Trans Private Limited (EVEY), has received the Letter of Award (LoA) from TSRTC. The order is under the FAME-II scheme of the Government of India. These buses will be supplied on a Gross Cost […]