Moneycontrol Selects: Top stories this evening

Here are the top stories this evening:

Twitter shares slump as Musk puts $44 billion acquisition deal on hold

Shares of Twitter fell 17.7 percent to $37.10 in premarket trading, their lowest since April, as Elon Musk announced that he is putting the $44 billion acquisition deal on hold till it is ascertained whether the spam or fake users on the platform account for less than 5 percent of the total active users.

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Tesla puts India entry plan on hold after deadlock on tariffs

Tesla Inc has put on hold plans to sell electric cars in India, abandoned a search for showroom space and reassigned some of its domestic team after failing to secure lower import taxes, three people familiar with the matter told Reuters.

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SBI net profit rises 41% in Q4 to Rs 9,113.5 crore, misses estimate

State Bank of India on May 13 reported a 41 percent year-on-year rise in net profit at Rs 9,113.5 crore for the quarter ended March 2022 (Q4FY22), which was below Street's estimate of Rs 9,927.6 crore. The lender's net interest income for the reported quarter came in at Rs 31,198 crore as against analysts' expectations of Rs 31,570 crore.

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Maruti Suzuki to invest Rs 11,000 crore in first phase of new manufacturing unit in Haryana

The country's largest carmaker Maruti Suzuki India (MSI) on Friday said it will invest Rs 11,000 crore in the first phase of its new manufacturing facility in Haryana. The new plant's first phase with a manufacturing capacity of 2.5 lakh units per annum is expected to be commissioned by 2025, subject to administrative approvals.

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Bank of Baroda Q4 result | Net profit jumps nine-fold YoY to Rs 7,272 crore; NII grows 13%

The state-owned lender Bank of Baroda on May 13 declared a nine-fold jump in its profit after tax (PAT) of Rs 7,272 crore for the year ended March 2022 as compared to a PAT of Rs 829 crore registered in the corresponding quarter of the previous fiscal.

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Tech Mahindra Q4 consolidated PAT rises 10% QoQ to Rs 1,506 crore

Tech Mahindra on May 13 reported a 10 percent sequential rise in its consolidated net profit to Rs 1,506 crore for the quarter ended March 2022, which was above analysts' expectations of Rs 1,411 crore.

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Monsoon forecast: Rainfall to hit Kerala on May 26, to be 98% 'normal', says Skymet Weather

The southwest monsoon, which marks the onset of rainfall season in most parts of peninsular India, will hit the southern coastal state of Kerala by May 26, private weather forecaster Skymet Weather said on May 13.

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