Business News Highlights: Stock Market Closes Almost Flat, Sensex Settles Near 73,900, Nifty Marginally Lower
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Background
ICICI Bank Enables UPI Facility For NRI Customers For Payments In India
ICICI Bank on Monday said that it has now enabled the quick payment facility UPI for its non-resident Indian (RI) customers for conducting e-commerce transactions and paying utility and merchant bills. The bank in a statement said that the NRI customers can now access this facility with their international mobile number linked with their NRE/NRO ICICI bank account in India and make payments to any Indian QR code, mobile number, bank account, etc.
Jet Airways Founder Naresh Goyal Gets Interim Bail On Medical Grounds
The Bombay High Court on Monday approved Jet Airways' founder, Naresh Goyal,'s interim bail request. The court granted two months of interim bail on medical grounds to Goyal, who was arrested by the ED in a money laundering case. The court's single bench of Justice N J Jamadar said Goyal would pay a surety of Rs 1 lakh and not leave Mumbai without seeking permission. Further, the court also instructed Goyal to surrender his passport.
Zee Media Corp Terminates CEO Ojha's Employment
Zee Media Corporation announced via an official filing on Monday that it terminated its CEO Abhaj Ojha's employment, effective May 4, 2024. "We hereby inform you that the Board of Directors at their meeting held today has approved and confirmed the cessation of employment of Mr. Abhay Ojha from the organization and his consequent cessation as the Chief Executive Officer of the Company with effect from May 4, 2024," the company noted.
The firm didn't specify any reasoning behind the change.
Marico Q4: Net Profit Jumps 5 Per Cent YoY, Revenue Up 2 Per Cent
Fast moving consumer goods firm, Marico Limited, reported a 5 per cent jump in its net profit at Rs 318 crore in the fourth quarter earnings for the 2023-24 fiscal year (FY24). The company's net profit stood at Rs 302 crore in the corresponding January-March quarter in the preceding 2022-2023 fiscal year (FY23).
The FMCG firm's revenue grew almost 2 per cent to Rs 2,278 crore in Q4FY24, against Rs 2,240 crore logged in the same quarter a year earlier.
Rupee Settles 5 Paise Lower At 83.50 Against US Dollar
The rupee depreciated 5 paise to close at 83.50 (provisional) against the US dollar on Monday. Forex traders said surging crude oil prices and dampened domestic equities impacted the sentiments in the market. In the last trading session, the domestic unit settled at 83.45 against the greenback.
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