A round-up of the big stories
Here is a collection of the most important stories this evening:
Bajaj Auto Q4 net profit zooms 12% to Rs 1,704 crore, revenue jumps 12% as well
Bajaj Auto on April 25 reported consolidated net profit for the quarter ended March 2023 at Rs 1,704.74 crore, up 11.70 percent from Rs 1,526.16 crore in the same quarter last year. More here
No regulatory framework from Sebi, RBI yet, financial influencers turn threats to markets
With no regulation in place yet from Sebi and the Reserve Bank, financial influencers have turned into a risk for investors as they give investment advices without being qualified to do so, induce stock price movements, and appear detrimental to recent listings. More here
MC Exclusive | SBI Capital, Trust Investment, 2 others in race for merchant banking roles in Varanasi, Kanpur municipal bond issues
At least four companies, including SBI Capital Markets and Trust Investment Advisors, have submitted bids for merchant banking-cum-transaction advisor roles with Varanasi Nagar Nigam and Kanpur Municipal Corporations ahead of their proposed bond issues, according to two persons familiar with the development. More here
Russian FM: Launching new system for cross-border payments, ‘no restriction’ on digital currencies
Russia is launching a new alternative system for cross-border payments, which will have no restriction on the use of digital currencies, Russian Finance Minister Anton Siluanov said. More here
US President Joe Biden formally launches 2024 re-election bid
United States President Joe Biden on April 25 launched his reelection bid with a call for Americans to choose him again to save democracy, less than three years after he defeated his predecessor Donald Trump. More here
WHO says contaminated cough syrup made in India found in Western Pacific
Contaminated cough syrup made by an Indian company has been found in the Marshall Islands and Micronesia, the World Health Organization (WHO) said on Tuesday, after a spate of child deaths linked to similar syrups in some countries last year. More here
SEBI bars brokers from creating bank guarantees by pledging clients' fund
In a move that will add to the working capital requirements of stock brokers, the Securities and Exchange Board of India (SEBI), via a circular, has prohibited the utilisation of clients' funds for the creation of bank guarantees. More here