BENGALURU: Amazon’s quick commerce push in India is gaining early traction, with orders on its Amazon Now service growing about 25% month on month, chief executive Andy Jassy said during an analyst call, as the company ramps up investments in one of its fastest-growing markets. “We continue to expand our ultrafast delivery service, Amazon Now,…
MUMBAI: Federal Bank said it agreed to acquire a select credit card portfolio of around 4.5 lakh cards from Standard Chartered Bank, India, comprising customers with standalone card relationships. The transaction will strengthen Federal Bank’s retail strategy with a sharper push in the non-co-branded segment. and provide access to a seasoned, high-quality customer base. The…
The rupee hit a record low of 95.33 against the dollar on Thursday, driven by surging crude oil prices and concerns over inflation and capital flows. Suspected RBI intervention helped the currency recover to close at 94.91, though it remains under pressure. The outlook for the rupee is closely tied to the trajectory of global…
NEW DELHI: In a massive relief for beleaguered Vodafone Idea, the Department of Telecom (DoT) has reassessed the company’s adjusted gross revenue (AGR) dues at Rs 64,046 crore at the end of Dec, as against Rs 87,695 crore estimated earlier.In a stock exchange filing, Vodafone Idea said on Thursday that the committee set up by…
MUMBAI: Hindustan Unilever (HUL) has hiked prices by 2-5%, signalling more increases could be in the offing going ahead as the company copes with a 8-10% cost inflation on the back of the West Asia war that sent oil prices soaring, weighing on raw material costs for a host of consumer goods ranging from detergents…
NEW DELHI: Monthly domestic urea production has rebounded to last year’s levels, fertiliser ministry said on Thursday, noting that output of the most widely used soil nutrient reached 21 lakh tonnes in April, which was the same as the level recorded a year earlier.In March, domestic urea output had tumbled to around 16 lakh tonnes…
New Delhi: Govt on Thursday replaced National Building Code (NBC) with National Building Construction Standards (NBCS) by withdrawing the earlier code. The new standards will serve more as guidelines, with this being done following directives from Deregulation Cell under Cabinet Secretariat.TOI has learnt that one of the main reasons for replacing NBC with NBCS was…
Indian markets are set for a shortened trading week, with the NSE and BSE remaining closed on Friday, May 1, for Maharashtra Day. The holiday will pause trading across equity, equity derivatives and related segments.For investors planning trades or settlements, Friday’s closure will be the latest scheduled market break after the April 14 holiday observed…
Infosys has appointed Hindustan Unilever Ltd’s non-executive chairman Nitin Paranjpe as non-executive vice chairman of its board with immediate effect, PTI reported on Wednesday.“The Board of Directors has approved the appointment of Nitin Paranjpe as non-executive Vice Chairman of the Board with immediate effect,” the company said in a statement.Paranjpe is also non-executive vice chairman…
US markets traded mixed on Thursday as strong corporate earnings helped Wall Street stay near record highs despite sharp swings in crude oil prices linked to the Iran war, AP reported.The S&P 500 rose 0.1 per cent and remained just below the all-time high touched earlier this week. The Dow Jones Industrial Average gained 413…