Country’s largest private sector lender HDFC Bank on Saturday reported a 35 per cent year-on-year (Y-o-Y) growth in net profit at Rs 16,175 crore for the quarter ended June 2024 (Q1FY25), aided by healthy net interest income (NII) and lower provisions. Analysts at Bloomberg had estimated that the bank may post a net profit of Rs 15,652 crore.

However, sequentially net profit of the lender was down 2 per cent from Rs 16,511.85 crore in Q4FY24 due to lower income growth and higher tax expenses.

The newly elected BJP government has renamed Biju Patnaik Sports Award as Odisha Rajya Krida Samman'.

Odisha Sports and Youth Services Department on Friday issued guidelines for the Rajya Krida Samman' which will be awarded in eight categories annually, subject to availability of suitable candidates. The cash rewards remain unchanged.

ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has acquired Norwegian firm Equinor's stake in an Azerbaijan oilfield and an associated pipeline for $60 million, the firm said in a statement.

OVL "has signed a definitive sale purchase agreement (SPA) for directly acquiring 0.615 per cent participating interest (PI) in offshore Azeri Chirag Gunashli (ACG) oil field in Azerbaijan from Equinor.

In India, 1.19 million excess deaths occurred in 2020 during the Covid-19 pandemic, 17 per cent higher compared to 2019, an international study has found.

The estimate is about eight times higher than the official Covid-19 deaths in India, and 1.5 times the World Health Organization's estimates, researchers, including those from the University of Oxford, UK, said.

Private sector lender YES Bank’s net profit rose by 46.7 per cent to Rs 502 crore during first quarter of FY25 (Q1 FY25) from Rs 343 crore in the previous corresponding period, owing to healthy increase in net interest income and sharp fall in provisions.

Sequentially, the Mumbai-based lender’s profit rose by 11.2 per cent from Rs 452 crore in the last quarter of FY24.

Shares of Tata Teleservices (Maharashtra) (TTML) hit a 20-month high at Rs 111.48, surging 14 per cent on the BSE in Friday’s intra-day trade amid heavy volumes. The stock of the Tata group telecom - cellular & fixed line services provider was quoting at its highest level since October 2022. In the past two days, the stock has rallied 37 per cent, while in the past five trading sessions, it has zoomed 50 per cent from a level of Rs 74.97 on July 11.

The DMK on Friday approached the Madras High Court to declare as ultra vires and unconstitutional, the three new criminal laws brought in by the Union government.

The three laws-- Bharatiya Nagarik Suraksha Sanhita, Bharatiya Nyaya Sanhita and Bharatiya Sakshya Adhiniyam have come into effect from July 1. They have replaced the Indian Penal Code, The Code of Criminal Procedure Code and the Indian Evidence Act.

The Central Board of Direct Taxes (CBDT) has extended the tax relief for sovereign wealth funds (SWFs) and pension funds by a year to March 31, 2025, against the previous expiry of March 31, 2024.

With the changes, the funds can now enjoy exemption from tax on dividend income, interest income, or long-term capital gains tax arising from investments made in India.

The Rajiv Gandhi International Airport here, run by GMR group, on Friday put out an advisory saying that due to the global IT outage, the services of some airlines have been impacted.

Airport sources said that as many as 23 flights -- 12 departures and 11 arrivals -- including Indigo's flights to Visakhapatnam, Tirupati, Ahmedabad and Bengaluru have been cancelled.

US President Joe Biden is expected to make a major announcement on his re-election bid, with several senior Democratic leaders suggesting that he leave the race following his disastrous debate performance, a failed assassination attempt on his rival Donald Trump, his poor health, and falling poll numbers, according to media reports.

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