In the top developments today, IT services major Tata Consultancy Services (TCS) reported 7.3 percent year-on-year (YoY) increase in consolidated net profit for the quarter ending March 31, 2022 at Rs 9,926 crore. Meanwhile, the Reserve Bank of India announced that money and other market trading hours, that fall under its purview, will be restored to their pre-pandemic timing of 9 am, with effect from April 18. In global news, Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif was elected as the 23rd Prime Minister of Pakistan.

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BUSINESS/ECONOMY

TCS Q4: IT giant meets street estimate; net profit at Rs 9,926 crore, revenue at Rs 50,591 crore

The country's largest software services firm Tata Consultancy Services (TCS) on Monday reported a 7.3 percent year-on-year (YoY) jump in net profit at Rs 9,926 crore for the fourth quarter ended March 31, 2022. Check details

TRAI recommends over 35% cut in prime 5G spectrum base price

Telecom Regulatory Authority of India (TRAI) said that all available spectrum in the existing bands of 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz and the new spectrum bands of 600 MHz, 3300-3670 MHz and 24.25-28.5 GHz, will be put to auction. Check details

KKR to acquire 9.99 percent in Shriram General Insurance, here's what sealed the deal...

Global investment firm KKR has acquired a 9.99 percent stake in the 13-year-old Shriram General Insurance (SGI), a joint venture between Shriram Capital and South-Africa-based Sanlam Ltd. Read more

MARKET

RBI restores money market trading hours

The trading hours for the various markets regulated by the Reserve Bank which were amended with effect from April 7, 2020, in view of the operational dislocations and elevated levels of health risks posed by COVID-19, will be restored to their pre-pandemic timing of 9 am, with effect from April 18. Read more

Veranda Learning Solutions shares debut on BSE, NSE

Veranda Learning Solutions' shares debuted on stock exchanges BSE and NSE on Monday. The stock of the coaching services provider began its journey on BSE at Rs 157 apiece, a premium of 14.6 percent over its issue price of Rs 137. On NSE, Veranda Learning shares listed at Rs 125 apiece, a discount of 8.8 percent to the issue price. Check details

Kotak Institutional Equities raises JSPL target price by 24%, shares gain

Jindal Steel & Power Ltd (JSPL) shares rose on Monday after Kotak Institutional Equities raised its target price for the stock by 23.9 percent. JSPL shares finished the day 1.4 percent higher at Rs 571.1 apiece on BSE, having risen as much as 2.6 percent to Rs 577.7 during the session. Read more

INDIA

No reason to worry until a new COVID-19 variant of concern gets detected, says Satyendar Jain

The Delhi government is keeping a watchful eye over the COVID-19 situation and there was no reason to worry until a new variant of concern is detected, Health Minister Satyendar Jain said on Monday. Read more

Jagan Mohan Reddy to have five Deputy Chief Ministers

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy will continue to have five deputies along with 20 other ministers in his reconstituted Cabinet. Read more

Clash of students at JNU hostel unfortunate, says Delhi home minister

The clash of students at the Jawaharlal Nehru University's Kaveri Hostel was an "unfortunate" incident, Delhi Home Minister Satyendar Jain said on Monday. Two groups of students had clashed allegedly over serving of non-vegetarian food in the mess on Ram Navami on Sunday Read more

WORLD

PML-N's Shehbaz Sharif elected as Pakistan’s new Prime Minister

Shehbaz Sharif, the president of Pakistan Muslim League-Nawaz (PML-N) on Monday was elected as the new Prime Minister of Pakistan. The opposition leader secured 174 votes in the Pakistan National Assembly becoming the 23rd Prime Minister of Pakistan. Read more

World Bank: Russian invasion to shrink its economy by 11% and Ukraine's by 45%

As a result of Moscow's ongoing war on Kyiv, Ukraine's economy is expected to shrink by 45.1 percent this year, and Russia's economy is projected to contract by 11.2 percent, the World Bank has projected. Check details

North Korea celebrates 10 years of Kim Jong Un as top party leader, may conduct nuclear test in show of strength

Celebrating 10 years of Kim's leadership, North Korea unveiled new portrait of its supreme leaders along with holding exhibitions. Many Analysts suspect that North Korea could display its ICBM missile at a public event in a show of strength to its enemies. Read more

YOU & I

SBI OTP-based cash withdrawal from ATM; here's how it works

In a bid to provide extra security to customers conducting cash transactions, the State Bank of India (SBI) has introduced the 24-hour OTP-based cash withdrawal facility, which will guard them against unauthorised transactions at ATMs. Check details

Banks to be closed for 4 days this week; check full list here

Public and private sector banks will remain shut for four days this week, starting Thursday (April 14). If you are planning to visit your bank branch, please check for these dates to avoid any inconvenience. Check details

(Edited by : Priyanka Deshpande)

First Published:Apr 11, 2022 8:37 PM IST