Public sector banks' cumulative profit crossed Rs 1.4 trillion in the financial year ended March 2024, recording a growth of 35 per cent over the previous year on a high base of Rs 1 trillion.

The 12 Public Sector Banks (PSBs) together had earned a net profit of Rs Rs 1,04,649 crore in 2022-23.

Shares of Vedanta hit 14-year high of Rs 438.30, surging 6 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes after the company said its board will meet on Thursday, May 16 to consider fund raising plan. The board will also consider first interim dividend on equity shares, if any, for the financial year 2024-25.

Currently, Vedanta is trading at its highest level since May 2010. The stock had hit a record high of Rs 494.30 on April 8, 2010. In past two months, the market price of Vedanta has appreciated by 75 per cent.

Quant Money Managers has got the banking regulator's approval to acquire an aggregate holding of up to 9.98 per cent of the paid-up share capital or voting rights in RBL Bank within May 12, 2025.

The stake can be acquired through various schemes of Quant Mutual Fund, a subsidiary of the investment management firm. As of May 10, Quant Money held 4.68 per cent of RBL Bank's equity share capital.

Food tech major Zomato on Monday said its subsidiary Zomato Payment Pvt Ltd (ZPPL) has decided to voluntarily surrender the certificate of authorisation it obtained from the Reserve Bank to operate as an online payment aggregator.

"At Zomato, we do not see ourselves having a significant competitive advantage against the incumbents in the payments space and hence we don't foresee a business in payments space as commercially viable for us, at this stage.

Senior BJP leader and former Bihar Deputy Chief Minister Sushil Kumar Modi passed away at the age of 72 on Monday, said the Bihar unit of BJP.

Modi had in April this year revealed that he was suffering from cancer and that he would not contest the 2024 Lok Sabha elections due to his poor health.

In an exclusive interview with a leading media channel on Monday, Union Home Minister Amit Shah cautioned against linking recent stock market fluctuations with the 2024 Lok Sabha elections. Shah, a key figure in India's political landscape, urged investors to consider purchasing stocks before June 4, the pivotal date for the Lok Sabha election results. Expressing optimism, Shah forecasted a surge in the domestic stock market in the forthcoming period.

"I can't anticipate stock market moves. But normally whenever a stable government is formed at Centre, the market sees a rally. I see 400-plus seat wins for the Bharatiya Janata Party [BJP], a stable Modi government coming, and thus market rising," Shah told NDTV.

Auto major Tata Motors on Friday reported a consolidated net profit of Rs 17,407.18 crore for the quarter ending March 31 (Q4) in the financial year 2023-24 (FY24). This was a staggering 222 per cent growth in profit compared to Rs 5,407.79 crore reported during the same period last year. Sequentially, profit grew 49 per cent from Rs 11,666.07 crore in Q3.

The company's revenue from operations was Rs 1.19 trillion, a 13.5 per cent increase year-on-year (Y-o-Y) from Rs 1.05 trillion. Sequentially, revenue rose 8.6 per cent from Rs 1.10 trillion.

IT major Wipro has appointed Vinay Firake as the chief executive officer (CEO) of the Asia Pacific, India, Middle East, and Africa (APMEA) strategic market unit (SMU), effective immediately. Vinay will be based in Dubai and report to chief executive Srini Pallia. He will also join the Wipro executive board.

Wipro has undergone significant C-level restructuring this year. On April 6, Wipro appointed Srini Pallia as the CEO and managing director, succeeding Thierry Delaporte.

Congress national general secretary Priyanka Gandhi Vadra on Friday alleged the ruling BJP seeks votes in the name of God instead of talking about how it will control inflation or provide employment to people.

Addressing a number of 'nukkad sabhas' in support of Congress candidate from Amethi Lok Sabha seat Kishori Lal Sharma, Priyanka Gandhi said while Prime Minister Narendra Modi claims on TV that his government did in 10 years the work that was not done in the last 70 years, the situation on the ground level is different.

The Supreme Court will pass an order today on Delhi Chief Minister Arvind Kejriwal's interim bail in the money laundering case registered against him by the Enforcement Directorate (ED) in connection with the Delhi excise policy case.

A bench headed by Justice Sanjiv Khanna on Wednesday told Enforcement Directorate counsel Additional Solicitor General SV Raju that it may pass the order on interim relief to Kejriwal on Friday.

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