Business news India: Latest India business news headlines today 4 February 2023

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Here’s today business news, the latest business news India today 4 February 2023

• SBI reported a 68% year-on-year rise in net profit in the third quarter ending December 2022.
• The S&P Global India Services PMI Business Activity Index above the neutral 50 level for the 18th consecutive month. A reading above 50 on the Purchasing Managers’ Index (PMI) indicates expansion.
• Value of the Adani Group Halved, $120 Billion Wiped Out As Stocks Drop
• Amul Increases Milk Prices by 2 with New Rates Beginning Today

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Latest business news India today 4 February 2023 – business news headlines today

• InterGlobe Aviation, running IndiGo airline, posted its highest-ever quarterly revenue of ₹15,410.2 crore in the December 2022 quarter, up 63% from the year-ago period.
  
• Bank of Baroda reported a net profit of ₹3,853 crore for the quarter ending December 2022, up 75.4% from the year-ago period due to higher net interest income.
  
• One97 Communications reported its consolidated net loss of ₹392 crore in the quarter ending December 2022 as against a net loss of ₹778.4 crore in the year-ago period.
  
• Outlooks on some Adani group companies were reportedly downgraded to negative by S&P Global Ratings on 3 Feb evening. 3 state-run banks have an aggregate exposure of appro. Rs.40,000 crores to various entities of Adani Group reported livemint
  
• Wavemaker India, a GroupM-owned media agency, has appointed George Kovoor as its chief creative officer. He will be reporting to Ajay Gupte, CEO for South Asia.
  
• Minister of State for Commerce and Industry Som Parkash said that The Fund of Funds for Startups launched under the Startup India initiative in 2016, has committed ₹7,980 crore to 99 Alternative Investment Funds as of 31 December 2022.
  

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Latest business news India today 4 February 2023 – business news India today

• IOCL said that it will pump in Rs.250 crores in the West Bengal region in the current fiscal to ramp up infrastructure to push green auto fuels.
  
• Yes Bank is said to have elevated Rajan Pental, its head of retail portfolio, as the executive director.
  
• DoT has raised the minimum download speed under broadband services to 2 Mbps.
  
• NCLT has adjourned the matter of Zee Entertainment lenders looking to prevent a merger between Zee and Sony to February 2. IndusInd Bank, Axis Finance and IDBI Bank had reportedly sought permission to file applications to intervene in the proposed merger.
  
• NDTV reportedly said that its senior executives had stepped down and it was putting up a fresh leadership team. In a disclosure to the stock exchanges, the company said group president Suparna Singh, chief strategy officer Arijit Singh, and chief technology and product officer Kawaljit Singh Bedi had resigned.
  
• Govt gets 33% stake in Vodafone Idea, promoters to invest as well. The Centre has reportedly cleared Rs 16,133-crore dues conversion into equity.

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