India’s third-largest IT services firm, HCLTech, has raised the lower end of its FY25 revenue growth guidance to the range of 4.5 per cent to 5 per cent. Earlier, the firm had provided a revenue guidance of 3.5–5 per cent. The Noida-headquartered IT services major, HCLTech, reported a net profit for the third quarter (October–December) of…
The Indian rupee slid to an all-time low on Friday, closing at 85.9650 against the US dollar, down 0.2% for the week. The rupee has hit new closing lows for the third consecutive day this week and this marked its tenth consecutive weekly decline, surpassing the previous record low of 85.9325 reached on Thursday. The…
India’s Finance Minister Nirmala Sitharaman will present the Union Budget on February 1, 2025, a day keenly awaited by taxpayers across the country. Many tune in specifically for the segment on income tax, eager to see if any changes are announced to provide relief for the common man. This year, speculation revolves around…
India’s largest IT services player Tata Consultancy Services (TCS) saw its net profit for the third quarter of the fiscal year 2024-25 at Rs 12,380 crore, up 11.9 per cent compared to Rs 11,058 crore in the same quarter of FY24. Revenue for the company grew 5.6 per cent to Rs 63,973 crore in Q3 FY25.…
Equity mutual funds (MFs) capped a strong 2024 with near-record inflows in December. With net inflows of Rs 41,156 crore in December, the 2024 tally surged to Rs 3.9 trillion, up 144 per cent compared to 2023. The December tally, which was only slightly short of the record-high inflows of Rs 41,887 crore achieved…
Sunny Agrawal of SBI Securities said the entire railway story is well-discovered and there may not be any cutting down on spending by the government in the forthcoming Union Budget 2025, scheduled to be presented on February 1 (Saturday). “The railway sector will remain under focus for the next three to five years. Both passenger-…
The gross domestic product (GDP) estimates for financial year 2024-25 (FY25) have been maintained at 6.4 per cent, the Ministry of Statistics said on Tuesday. This is significantly lower than the 8.2 per cent GDP growth witnessed in the previous financial year 2023-24. Despite a dull first half of FY25, the ministry expected an uptick in…
Central banks around the world collectively, in November 2024, added 53 tonnes of gold to their reserves, of which the Reserve Bank of India’s addition was 8 tonnes, the World Gold Council (WGC) said in a report on Monday. In 2024, central banks – mostly those from emerging markets – remained keen buyers of gold,…
The Indian market collapsed in trade on Monday, January 6, 2025. The BSE Sensex slumped 1,441.49 points or 1.8 per cent and logged an intraday low at 77,781.62, similarly, the National Stock Exchange (NSE) Nifty tanked 452.85 points or 1.88 per cent to the day’s low at 23,551.90. At close, on BSE, Tata Steel, Kotak…
While some stocks ascend to large-cap, others are moving to mid-cap. Adani Total Gas, NHPC, IDBI Bank, Shree Cements, and others will drop from large-cap to mid-cap as thresholds rise. The mid-cap cutoff has increased to ₹33,200 crore from ₹27,500 crore in June. Hyundai Motor, Bajaj Housing Finance, Swiggy, and NTPC Green Energy are…