Zomato's Q4 profit of Rs 175 crore marked a significant turnaround. Revenue reached Rs 3,562 crore, missing estimates. Blinkit achieved EBITDA positivity, but Zomato's stock declined over 7% on NSE.

The government is planning to enforce mandatory anti-fake review norms for e-commerce companies in order to safeguard consumer interests. Consumer affairs department intends to implement QCO for online consumer reviews following unsuccessful voluntary attempt to control fake reviews. The department issued quality standards for online retailers one year ago, which banned publication of paid reviews and required disclosure of promotional content.

The world's biggest banks financed fossil fuels to the tune of $705 billion in 2023, with US and Japanese lenders leading the way, an annual report by climate campaigners said Monday. Since the 2015 Paris climate agreement, the top 60 banks have provided a total of $6.9 trillion to the sector, according to the coalition's 15th annual report titled "Banking on Climate Chaos".

Retail inflation decreased to its lowest level in 11 months in April, driven by deflation in the fuel and light segment and reduced pressures on various other segments. However, food and beverages inflation remained high, hindering the possibility of interest rate reductions. Rural inflation stood higher at 5.4%, while urban inflation was at 4.1%.

​​Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, reversed losses in afternoon to trade in green on Monday. While BSE Sensex rose over 160 points from its Friday closing, Nifty50 was above 22,100.

The Income Tax Department streamlines ITR filing for FY 2023-24 with various utilities. Taxpayers have until July 31, 2024, to file returns. Different utilities cater to diverse taxpayer needs, offering online, offline, or Excel-based options.

Foreign funds are selling Indian equities not because of election uncertainty but because they find other markets more compelling, and D-St valuations are providing them an exit opportunity, said HSBC India CEO Hitendra Dave. On Monday, Foreign Portfolio Investors were net sellers, selling shares worth Rs 4,499 crore in the capital markets.

As Chandrasekaran already chairs several key Tata group companies, his appointment as chairman of Tata Electronics underscores the importance of the semiconductor business to the conglomerate.

The income tax department introduces a new functionality in the Annual Information Statement (AIS) allowing taxpayers to view and confirm financial data affecting taxes. Taxpayers can provide feedback on displayed transactions to ensure accuracy. CBDT states that the system is operational for data from tax deductors, collectors, and reporting entities.

Cocoa futures in New York and London saw significant price drops due to predictions of wetter weather for major producers, leading to increased volatility in the market. The improved rainfall outlook is benefiting cocoa crops in key producing countries like Ghana, Indonesia, and Ivory Coast.

Tata Motors stock after plummeting 8.34% or Rs 87.25 settled at Rs 959.80 on the BSE. The steep decline in the automaker's share price wiped off Rs 29,016.23 crore from its market capitalization, bringing it down to Rs 3,19,012.47 crore.

US private equity major Warburg Pincus is set to purchase Shriram Housing Finance for Rs 4,630 crore, marking the largest acquisition of a home loan company by a private equity fund in India. This deal represents the largest investment by Warburg in the country so far.

Senior citizens can enjoy tailored FDs with higher interest rates at various banks, including DCB Bank, IDFC First Bank, Bandhan Bank, IndusInd Bank, YES Bank, and DBS Bank India. Rates apply up to Rs 2 crore.

SoftBank Group, based in Tokyo, announces intention to be more assertive in AI and chip venture following profitable second quarter. Net income exceeds expectations with help from investment gains and increase in Arm's stock. CFO Yoshimitsu Goto says the company's net asset value reaches record $178 billion. Founder Masayoshi Son seeks $100 billion for chip venture to rival Nvidia.

The Sensex experienced significant fluctuations, dropping almost 200 points before recovering and closing with a slight increase. Market sentiment is influenced by uncertainties related to polls and foreign fund selling activities. Foreign investors have sold stocks worth Rs 22,800 crore in May, while domestic investors have purchased stocks worth close to Rs 23,000 crore.

Zomato announced on Monday that its subsidiary has chosen to voluntarily give up the authorization certificate it received from RBI to function as an online payment aggregator. "We do not see ourselves having a significant competitive advantage against the incumbents...," Zomato said. It also announced a net profit of 175 crore rupees on a consolidated basis in the March quarter.

April 2024 CPI Inflation: The Consumer Price Index (CPI) inflation for the month of April eased to 4.83%. The rural inflation was reported at 5.43% and urban inflation came in at 4.11%. The CPI inflation for the month of March 2024 stood at 4.85%.