India is different from what it was in 2013: Morgan Stanley Research report
A report published by Morgan Stanley Research said India has gained positions in the world order with significant positive consequences for the macro and market outlook.
Finance
Annapurna Swadisht FY23 PAT leaps 196%; Product Basket expands to 10 categories
Kolkata: Annapurna Swadisht, a Kolkata-based FMCG company, Saturday reported a whopping 163% jump in its revenue at Rs 160.64 crore for the financial year ending March 2022-23 (FY23) compared with Rs 61.05 crore registered in the year-ago period.
Senco Gold & Diamonds becomes first Qualified Jeweller from east India to import bullion on GIFT City’s IIBX post ICEGATE integration
Kolkata: Senco Gold & Diamonds has announced that it became the first Qualified Jeweller from East India to import gold on India International Bullion Exchange (IIBX) post ICEGATE integration.
India's GDP moves up by 6.1 pc in Q4
New Delhi: India's gross domestic product (GDP) grew 6.1% year-on-year in January-March quarter (Q4) of financial year 2022-23, as per data released by Ministry of Statistics & Programme Implementation (MoSPI) on Wednesday.
Output of eight core sectors slows down to 3.5 pc in April
New Delhi: The output of eight core infrastructure sectors slowed down to 3.5% in April 2023 as against 9.5% in April, 2022, revealed data released by the Ministry of Commerce & Industry on Wednesday.
Indian Rupee falls 8 paise to 82.74 against USD
Mumbai: The Rupee on Wednesday slipped eight paise to close at 82.74 on rising demand for US Dollar by bankers and importers, dealers at the Foreign Exchange said.
Indian Market: Sensex drops 346 pts
Mumbai: Snapping a winning streak of the last four sessions, the BSE Sensex on Wednesday dropped 346 pts to close at 62,622.24 ahead of the U.S. Congress's approval of the debt deal.
India's goods exports to touch USD 773 billion by 2030, says report
New Delhi: Registering annual growth rate of 7.5%, India’s exports of goods could reach US$ 773 billion by 2030 with exports to Turkiye, Vietnam and Indonesia to be among the highest-growing export destinations, said a Standard Chartered Bank report on Wednesday.
Strides Pharma Q4FY23 sales at Rs 9,904 million cr, up 14%Y-o-Y; loss narrows 133% YoY to Rs 9.54 cr
Mumbai: Strides Pharma’s quarterly sales stood at Rs 9,904 million, growing 14% increase both sequentially and year-on-year.
Liquidity in banks likely to cross estimate of Rs 1 trillion as per market trends show 80% of the total Rs 2000 notes are deposited: SBI report
Mumbai: Around 80% of the total Rs 2000 notes received are deposited and the rest 20% are exchanged for smaller denominations as per market trends. Even if a fraction of these trends is extrapolated at the banking level, the liquidity in the banking system will shoot much higher compared to previous estimates of around Rs 1 trillion bulge in deposits even if a fraction, said SBI Ecowrap report on Tuesday.
S Chand Publishing reports Rs 576 million net profit in FY23
New Delhi: S Chand Publishing reported a net profit of Rs 576 million in FY23 while the company achieved a significant milestone by becoming net debt-free in April 2023, with a net debt of Rs 60 million and a gross debt of Rs1,268 million.
Adani Ports and Special Economic Zone Q4FY23 net profit soras 5.1% to Rs 1,158.88 cr
Mumbai: Adani Ports and Special Economic Zone (ASPEZ) reported a consolidated net profit of Rs 1,158.88 crore in the fourth quarter of FY23, marking a growth of 5.1% compared to Rs 1,102.61 crore in the same quarter of the previous year.
132.19 crore pieces of soiled Rs 2,000 banknotes disposed in last 3 FYs
Mumbai: A total of 132.19 crore pieces of soiled Rs 2,000 banknotes were disposed of in the last three financial years, according to the annual report of the Reserve Bank of India (RBI).
Coal India raises prices of non-coking coal by 8%
Kolkata: Coal India Ltd (CIL) has raised the prices of non-coking coal by 8 percent, the state-run miner said in a regulatory filing.
MeitY invites applications for PLI 2.0 for IT hardware; introduces penalty for falling short of manufacturing targets
New Delhi: The Production-Linked Incentive (PLI) Scheme 2.0 for IT Hardware has been approved by the Union Cabinet with a budgetary outlay of Rs 17,000 crore.
Sikh Entrepreneurs: Navigating the world of business with Faith and Culture as Their Guiding Light
As the world continues to evolve, so do the factors that drive entrepreneurship and business success. For many Sikh entrepreneurs, faith and culture have become essential guiding lights on their journey through the business world.
5 Factors Affecting Your CIBIL Score for a Gold Loan and Other Credit
Loans are a popular way of getting through a financial crunch or meeting emergency requirements. Among the numerous options available in the secured and unsecured categories, gold loans are a popular form of availing secured credit.
Nepal: Investment Board approves Project Development Agreement that will be signed with India’s SVJN
A meeting of the Investment Board Nepal (IBN) has approved the final Project Development Agreement (PDA) draft which will be signed with India’s state-owned SJVN to develop 669 MW Lower Arun Hydropower project, media reports said.
ONGC turnover touches Rs 6,84,829 cr
Mumbai: ONGC's consolidated turnover stood at Rs 6,84,829 crore in FY23, compared to Rs 5,31,793 crore in FY22.
Reliance Jio Kolkata consolidates leadership in Kolkata Metro with strong customer additions in March
Kolkata: Reliance Jio has consolidated its leadership in Kolkata with strong customer additions in March 2023.
Vinsys completes the pre-IPO round at Rs. 200 crore valuation
Kolkata: Vinsys, a IT and software services and software company headquartered in Pune, successfully closed its pre-IPO round.
US reaches debt ceiling deal amid a looming financial crisis
Washington: As the US faces a potential debt default, President Joe Biden and his Republican opponents have reached an in-principle agreement to raise the US debt ceiling to avert a default, media reports said.
Indian shipping company transporting Russian oil in trouble after certification of over 20 vessels cancelled: Report
Maritime services company Lloyd's Register has informed Gatik Ship Management, a major carrier of Russian oil following the Ukraine war, that it will revoke certification for 21 of its vessels by June 3, according to a statement by the company to Reuters.
India's FY23 GDP growth likely to surpass 7%, manufacturing sector to rebound: SBI report
Despite the global economic slowdown, India is expected to continue its showdown in pursuing a different pathway of zeroing in on drivers of growth, looking for a renewed surge in resilient manufacturing while supporting the services sector to embrace enhanced efficiency, an SBI report said on Friday.
National Highways & Infrastructure Development Corporation signs MoU with IIT Guwahati for R&D
New Delhi/ Guwahati: The National Highways & Infrastructure Development Corporation Ltd (NHIDCL) signed a Memorandum of Understanding (MoU) with IIT Guwahati via a video conferencing session on Thursday.
Centre to organise first ever Mining Start-up Summit on May 29 in collaboration with IIT, Bombay
New Delhi: The Union mine ministry will organise the first Mining Start-up Summit in collaboration with the Indian Institute of Technology, Bombay.
DGCA allows Go First 30 days to submit revival plan
New Delhi: Aviation regulator Directorate General of Civil Aviation (DGCA) has allowed cash-strapped airline Go First a 30-day period to present a detailed plan for reviving its operations, media reports said.
Reliance Partners with General Mills to bring Alan's Bugles to India
Mumbai: Reliance Consumer Products Limited (RCPL), the fast-moving consumer goods (FMCG) division of Reliance Retail Ventures Limited (RRVL), on Friday introduced Alan's Bugles in India.
UTI Mutual Fund launches ‘UTI Nifty50 Equal Weight Index Fund’
New Delhi: UTI Mutual Fund (UTI) launches an open-ended scheme replicating / tracking Nifty50 Equal Weight Total Return Index (TRI) – ‘UTI Nifty50 Equal Weight Index Fund’.
Nissan introduces the Magnite GEZA Special Edition at INR 7.39 Lakhs
New Delhi: Nissan Motor India on Friday introduced its Big, Bold, Beautiful SUV, the Nissan Magnite GEZA Special Edition at a starting price of INR 7,39,000 (ex-showroom, Delhi).