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Mutual funds weightage to utilities at 35 month high

Oct 13, 2023

New Delhi, Oct 13 (IANS) September saw notable changes in the sector and stock allocation of mutual funds and on a month on month basis, the weights of utilities, NBFCs, PSU banks, automobiles, healthcare, telecom, and cement increased, while that of private banks, technology, consumer, oil and gas, and chemicals moderated, as per a report by…

Govt will support AI chip development via PPP model: MoS IT

Oct 13, 2023

New Delhi, Oct 13 (IANS) The government on Friday announced to support the development of artificial intelligence (AI) chips via a public-private partnership (PPP) model following recommendations of a government-appointed panel.Minister of…

Business

Results of IT majors struggling with weak numbers impacting market

Oct 13, 2023

New Delhi, Oct 13 (IANS) The market is likely to be weighed by results of IT majors which are struggling with weak numbers on revenue guidance for FY24 and lack of clarity on growth recovery, says V. K. Vijayakumar, the Chief Investment…

Business

OpenAI’s revenue on track to reach $1.3 bn this year: Report

Oct 13, 2023

San Francisco, Oct 13 (IANS) ChatGPT developer OpenAI is reportedly going to make $1.3 billion in revenue this year, according to its CEO Sam Altman, amid reports that the AI company is witnessing a slow down in sales. Microsoft-backed AI…

Business

Cyber protection company Acronis lays off employees amid restructuring

Oct 13, 2023

New Delhi, Oct 13 (IANS) Global cyber-protection company Acronis is laying off some of its employees as part of a restructuring exercise.Founded in Singapore in 2003 and incorporated in Switzerland in 2008, the company, however, did not…

Business

US sues bankrupt crypto platform Voyager’s CEO, permanently bans company

Oct 13, 2023

Washington, Oct 13 (IANS) The US Federal Trade Commission (FTC) has announced a settlement with bankrupt crypto company Voyager that will permanently ban it from handling consumers’ assets.The Commission said late on Thursday it is also…

Business

Domestic air passengers annual traffic volume surged to 29.10%: DGCA

Oct 13, 2023

New Delhi, Oct 13 (IANS) Domestic airline passenger numbers for the period spanning January to September soared to 1,128.62 lakh, showcasing a substantial increase from the 874.24 lakh recorded during the same period the previous year, said…

Business

Gangajal exempt from GST, says govt

Oct 12, 2023

New Delhi, Oct 12 (IANS) As the festival season is round the corner, the Finance Ministry clarified on Thursday that 'Gangajal', which is holy water from river Ganga, remains exempt from GST.In a clarification issued by the Central Board of…

Business

Mining stocks soar in Thursday’s trade

Oct 12, 2023

Mumbai, Oct 12 (IANS) Mining stocks soared on Thursday because of which the Nifty Metal index posted strong gains, said Vaibhav Vidwani, Research Analyst at Bonanza Portfolio.MOIL jumped 7.9 per cent, while NMDC and Gujarat Mineral…

Business

Infosys logs Rs 6,212 cr profit for Q2, declares interim dividend of Rs 18

Oct 12, 2023

Chennai, Oct 12 (IANS) Information technology (IT) major Infosys announced on Thursday that it closed the second quarter of FY24 with higher revenue and net profit.The company said the Board of Directors has approved payment of interim…

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