Business

[ad_1] Life Insurance Corporation of India (LIC) has delivered another strong quarterly performance, with higher premium income and expanding assets driving a 31% year-on-year rise in consolidated net profit to Rs 10,098 crore for the September quarter.The state-run insurer’s premium income rose 5.5% to Rs 1,26,930 crore from Rs 1,20,326 crore a year earlier, even…

[ad_1] File photo (Picture credit: ANI) India’s services sector saw its slowest pace of growth in five months during October, as competitive market pressures and heavy rainfall in some regions weighed on business activity.According to the monthly HSBC India Services PMI Business Activity Index, compiled by S&P Global, the seasonally adjusted reading fell to 58.9…

[ad_1] Lenskart Solutions’ Rs 7,278 crore initial public offering (IPO) witnessed robust investor interest, with the issue being subscribed 28.2 times when it closed on November 4.The eyewear major received bids for 281.9 crore shares against 9.97 crore shares on offer.The basis of allotment will be finalised on November 6, and investors can check their…

[ad_1] MUMBAI: Mahindra & Mahindra has sold its entire 3.5% stake in RBL Bank for Rs 678 crore, booking a 62.5% gain on its treasury investment made in Jul 2023 for Rs 417 crore. The sale comes weeks before Emirates NBD launches an open offer on Dec 12 to buy shares from public investors at…

[ad_1] The Indian National Space Promotion and Authorization Centre (IN-SPACe) has denied applications from Chinasat and Hong Kong-based operators ApStar and AsiaSat. (AI image) India has started the process of restricting satellite usage linked to Chinese entities for domestic broadcasters and teleporters, as part of its strategy to strengthen security measures against its northern neighbour…

[ad_1] India plans to reduce direct imports of Russian crude from late November following the introduction of new US sanctions targeting Rosneft and Lukoil, which come into effect on November 21. Analysts expect Indian refiners—responsible for over half of the country’s Russian crude used in petrol and diesel production—to comply with the sanctions.According to maritime…

[ad_1] Watchdog FATF hails ED’s asset recovery efforts NEW DELHI: The Financial Action Task Force (FATF) acknowledged India’s efforts in recovering public assets lost to financial crimes, highlighting a money laundering case where land confiscated by the Enforcement Directorate (ED) was identified for the construction of a new airport that would serve the public.The acknowledgment…

[ad_1] China on Wednesday announced it will extend the suspension of an additional 24 per cent tariff on American goods for another year, while retaining a 10 per cent general tariff.According to a statement on the Ministry of Finance website, as cited by AFP, the State Council approved the measure, saying that “for one year,…