Thursday, March 12
ICICI Bank announced a robust 15.9% YoY increase in consolidated net profit, reaching Rs 13,558 crore for the June 2025 quarter. Core net interest income also saw a rise of 10.6%, climbing to Rs 21,635 crore. The bank's asset quality improved, with the gross non-performing assets ratio falling to 1.67%.
India's pain relief market is booming, fueled by easy access to over-the-counter options and lifestyle-related ailments. The segment has doubled since 2020, outpacing the broader OTC market. While convenient, experts warn against indiscriminate use, citing potential health risks. Demand for dermatological creams is also surging, especially among younger consumers, making it the second-largest non-prescription category after pain relief.
Karnataka's commercial taxes department clarifies GST rules for Bengaluru vendors. Small businesses must pay GST regardless of payment method. Notices were issued to those exceeding turnover limits via UPI. Traders should submit documents for verification. Officials are assisting with compliance and registration. The department aims to meet revenue targets amid financial pressures.
Prime Minister Narendra Modi is set to inaugurate four new Amrit Bharat Express trains in Bihar, significantly boosting rail infrastructure and regional connectivity. The launch, part of a larger development project worth over Rs 7,200 crore, aims to provide affordable and comfortable travel, especially in eastern India.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, tanked in trade on Friday. While Nifty50 went below 25,000, BSE Sensex was down over 500 points.
Donald Trump has escalated his criticism of Federal Reserve Chair Jerome Powell, accusing him of stalling the housing market with high interest rates. Trump hinted at a possible dismissal over a controversial $2.5 billion renovation at the Fed's headquarters, branding Powell a "numbskull.
Stock market today: The NSE Nifty decreased by 143.05 points or 0.57 per cent, ending at 24,968.40. The BSE Sensex fell by 501.51 points or 0.61 per cent, closing at 81,757.73. During trading, it reached a low of 81,608.13, down by 651.11 points or 0.79 per cent.
India's EV charging network has surged, witnessing a nearly five-fold increase from FY22 to early FY25, fueled by government initiatives and state-specific EV policies. While charging infrastructure is rapidly expanding, a disparity exists between EV adoption and charger availability, with one public charging station serving 235 electric vehicles.
