Mumbai, Jan 14 (IANS) IT major Infosys on Wednesday reported a decline in its consolidated net profit for the October–December quarter (Q3 FY26), mainly due to the impact of the Indian government’s recent Labour Code norms.Infosys said its consolidated net profit fell 2.2 per cent year-on-year (YoY) to Rs 6,666 crore in the third quarter, compared with Rs 6,822 crore in the same period last financial year (Q3 FY25).On a quarter-on-quarter (QoQ) basis, profit dropped sharply by nearly 9.6 per…
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Washington, Jan 14 (IANS) US President Donald Trump said the American economy has rebounded sharply in less than one year, citing strong growth, falling inflation, rising wages and record investment as evidence of what he called a historic turnaround.Speaking at the Detroit Economic Club, on Tuesday, Trump said the recovery followed what he described as severe economic damage under the previous administration.“Now after less than 12 months in office, I’m back in Michigan to report to you on th…
New Delhi, Jan 10 (IANS) The government in Pakistan is actively feeding ‘paper growth’ sectors that may bring some GDP growth but do not stimulate commercial investment — like real estate where the rich park their wealth and let it grow, according to a new report.Since 2019, the poorest 20 per cent of Pakistani households have seen their real monthly incomes plunge by nearly 12 per cent, said the Editorial in The Express Tribune.“In contrast, the wealthiest quintile enjoyed a 7 per cent incre…
Mumbai, Jan 6 (IANS) Shares of Tata Group retailer Trent Limited plunged sharply on Tuesday, rattling investors despite the company reporting double-digit revenue growth for the December quarter. The stock fell as much as 8.3 per cent to Rs 4,060.65 on the BSE, wiping out nearly Rs 13,000 crore in market capitalisation.The sharp sell-off came even as Trent posted a 17 per cent year-on-year (YoY) rise in standalone revenue to Rs 5,220 crore in the October–December quarter.However, investors foc…
Seoul, Jan 4 (IANS) Foreign ownership as a share of total market capitalisation reached its highest level in five years and eight months in December amid a rally in the South Korean equity market, a report showed on Sunday.Foreigners bought a net 3.5 trillion won (US$2.4 billion) worth of local shares in December, raising their stockholdings to 32.9 percent of total market capitalsation, the highest level since April 2020, according to a report published by the Korea Center for International Fin…
Ahmedabad, Jan 2 (IANS) The Directorate of Enforcement (ED), Ahmedabad Zonal Office, has made a major seizure in connection with a fraudulent stock market investment scam that targeted common investors. Acting under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, the ED recovered proceeds of crime worth several crores from the accused, Himanshu alias Pintu Bhavsar, and others.During the search and seizure operations, the ED recovered silver bullion weighing 110 kg valued a…
Mumbai, Dec 29 (IANS) Shares of Timex Group India fell sharply in early trade on Monday, after the company’s promoter launched a two-day offer for sale (OFS) at a steep discount. The stock dropped nearly 10 per cent in the morning session — reflecting selling pressure triggered by the OFS announcement.The share price of Timex Group India slipped as much as 9.6 per cent to an intra-day low of Rs 318.The decline came after the promoter fixed the OFS floor price at a significant discount to the …
Mumbai, Dec 22 (IANS) Shares of Meesho Limited came under sharp selling pressure on Monday, as the stock hit a 10 per cent lower circuit. This was the second straight session of decline for the newly listed e-commerce company.Over the last two trading days, Meesho shares have fallen nearly 17 per cent, after dropping around 7 per cent on Friday.The recent fall indicates that some investors may be booking profits after the stock’s strong rally following its market debut.Meesho shares had more t…
The Securities and Exchange Board of India (SEBI) has exposed one of the largest stock market education scams in recent…