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RBI instructs IIFL Finance to cease gold lending, allows servicing of existing portfolio

05 Mar 2024 10:54 AM IST

The Reserve Bank of India (RBI) has instructed IIFL Finance to cease gold lending activities immediately but has permitted the company to manage its existing gold loan portfolio through standard collection and recovery processes. The company’s gold loan asset under management has witnessed a 35% YoY growth to ₹24,692 crore,

Tata Motors to demerge commercial and passenger vehicle businesses into separate entities

04 Mar 2024 17:38 PM IST

On March 4, Tata Motors Ltd (TML) announced its decision to separate its businesses into two distinct listed entities: commercial vehicles (CV) and passenger vehicles (PV). The company stated, “The demerger follows the prior subsidiarisation of PV and EV businesses in 2022, enhancing each business’s ability to pursue its strategies

Economist Daniel Lacalle on Bitcoin vs Dollar battle

04 Mar 2024 16:47 PM IST

Renowned economist Daniel Lacalle expresses concerns regarding the future trajectory of the US dollar, attributing it not to cryptocurrencies like Bitcoin, but rather to fiscal policies. Lacalle highlights the alarming surge in national debt, now exceeding $34 trillion and growing by $1 trillion every hundred days. He contends that this

Spending on paan, tobacco, intoxicants rises in last 10 yrs

04 Mar 2024 13:41 PM IST

According to a survey, the consumption of paan, tobacco, and other intoxicants has increased over the last 10 years, with people spending a larger portion of their income on these products. Last week’s release of the Household Consumption Expenditure Survey 2022-23 revealed a notable increase in the proportion of household

India’s used Car Mkt set to hit USD 100 BN mark by 2034: Vikram Chopra

04 Mar 2024 13:37 PM IST

According to CARS24 CEO and Co-Founder Vikram Chopra, the Indian used car market is expected to touch the $100 billion mark in the next 10 years, on the back of rising disposable incomes and a growing middle class. The Gurugram-based online used car marketplace has seen changes in market dynamics,

JG Chemicals’ IPO: All you need to know

04 Mar 2024 13:08 PM IST

J.G. Chemicals Ltd is all set to launch its IPO on March 5, 2024. The Equity shares are valued at Rs 10 each. The price range of the IPO is between Rs 210 and Rs 221 per equity share. The total issue size is around Rs 250 crore at the

Mukka Proteins IPO: Idea to apply or not as bidding ends today

04 Mar 2024 12:27 PM IST

The subscription for the initial public offering (IPO) of Mukka Proteins Limited commenced on February 29, 2024, and will conclude on March 4, 2024. The IPO has garnered significant interest, with anchor investors contributing ₹67.20 crore. The company’s promoters aim to raise a total of ₹224 crore through the issuance

CFX Fund Review Uncovers Exceptional Features and Services for Traders

02 Mar 2024 07:47 AM IST

CFX Fund has garnered attention in the trading industry for its exceptional features and services. The CFX Fund review aims to evaluate the platform’s capabilities for potential traders objectively. Notably, the platform offers exceptionally tight spreads, starting at 0.0, minimising the difference between buying and selling prices of financial instruments.

Dell Technologies posts strong financial results, exceeds expectations

01 Mar 2024 18:02 PM IST

Following the release of the company’s fourth-quarter earnings, which exceeded analyst projections and demonstrated strong demand for its artificial intelligence servers, Dell Technologies’ shares surged more than 15% during extended trading on Thursday. Revenue: $22.32 billion vs. $22.16 billion predicted by LSEG, formerly known as Refinitiv; earnings per share: $2.20

Citigroup to give pink slips to 286 employees: Report

01 Mar 2024 17:12 PM IST

Citigroup, a global American investment bank and financial services provider, plans to let go of 286 workers in New York. The bank, which is undergoing a significant transformation, announced in January 2024 that it would eliminate 20,000 positions over the following two years. Three different letters from the company indicated

PM Modi lauds Indian economy’s strength after 8.4 pc GDP growth in Q3

01 Mar 2024 11:07 AM IST

Prime Minister Narendra Modi has once again reiterated that his government will continue in its mission to ensure India’s economic growth is on the upward trajectory soon after data showed that the country’s gross domestic product (GDP) had registered a robust 8.4 per cent growth in the third quarter of

Commercial LPG cylinder price increased, check new rate

01 Mar 2024 10:51 AM IST

The price of commercial liquefied petroleum gas cylinders has increased. State-run oil marketing companies (OMCs) have announced new and increased prices of 19 kg commercial LPG gas cylinders from today (1 March 2024). In Delhi, the retail price of 19 kg commercial gas cylinder is now ₹ 1,795. In Mumbai,