Business and financial news
New Delhi: States remain divided over a proposal to exempt health insurance premiums from Goods and Services Tax (GST), with the Fitment Committee—comprising revenue officials from both state and Union governments—struggling to agree on this contentious issue, media reports said.
Mumbai/IBNS: Following a fall in global markets amid resurfacing slowdown fears, Indian benchmark indices Sensex and Nifty traded lower in the early hours of Wednesday (Sept 4) amid renewed concerns over a US economic slowdown and caution ahead of key data that could influence the Federal Reserve's interest rate decision, while selling pressure was evident across all sectors, reports said.
New Delhi: The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, on Tuesday, granted Acceptance of Necessity (AoN) for 10 capital acquisition proposals worth Rs 1,44,716 crore.
The world will spend an unprecedented amount of money on travel in 2024. According to the World Travel and Tourism Council (WTTC), $1 out of every $10 spent globally will go towards travel, as people eagerly book hotels, cruises, and flights, reported Reuters.
Mumbai: Yet another placement season unfolded at the Indian Institutes of Technology (IITs) this year, bringing to light the growing competition the graduates have to face every year in campus job interviews.
New Delhi: The Unified Payments Interface (UPI) has become the world's most popular alternative payment method, handling 3,729.1 transactions per second in 2023, media reports said.
New Delhi: The government is set to approve several major defence projects, including the construction of seven advanced frigates for the Indian Navy and the Indian Army's plan to acquire 1,700 new tanks to replace its aging fleet of Russian-origin T-72 tanks, media reports said.
The World Bank on Tuesday upgraded India's growth forecast for the FY24/25 to seven percent, giving a boost to the country's financial journey.
Mumbai/IBNS: Hours after Indian National Congress (INC) spokesperson Pawan Khera alleged that Securities and Exchange Board of India (SEBI) chair Madhabi Puri Buch had received Rs 16.8 crore from ICICI Group between FY18 and FY24, private sector lender ICICI Bank on Monday (Sept 2) denied paying salary or granting stock options to its former employee Buch.
Auto major Tata Motors on Monday announced the launch of Tata Curvv – The SUV Coupe, at a starting introductory price of Rs. 9.99 lakh.
New Delhi/IBNS: A monthly private-sector survey showed on Monday (Sept 2) that India's manufacturing activity growth eased to a three-month low in August 2024 as demand softened significantly, casting another shadow over the otherwise robust economic outlook.
Ahmedabad/IBNS: Shares of Gujarat Gas Limited (GGL) on Monday (Sept 2) surged 13.6 percent to its new all-time high of Rs 689.45 on BSE after the natural gas distribution company announced the restructuring of its group entities, including Gujarat State Petroleum Corporation (GSPC), Gujarat State Petronet Limited (GSPL), and Gujarat Gas, following which the brokerages have upgraded the stock's target price up to Rs 715.
New Delhi/IBNS: Maruti Suzuki Alto-K10 and S-Presso are getting cheaper as India's largest carmaker on Monday (Sept 2) announced to slash prices of select variants of these two entry level models amid rising inventory concerns in the automobile industry and drop in sales.
New Delhi/IBNS: Sales of passenger vehicles in the local market dropped for the second straight month in August 2024, on a high base, and with car manufacturers cutting down dispatches to rationalise stocks at dealerships, reports said.
New Delhi/IBNS: The new micro, small and medium enterprise (MSME) credit assessment model, based on digital footprints for public sector banks (PSBS), is expected to be unveiled by the end of March next year (2025), Business Standard reported, citing sources in the know.
Sensex zoomed past 82,600 point mark on Monday during early trading hours.
New Delhi: The model of the sleeper version of the highly awaited Vande Bharat train was unveiled today, media reports said.
NHPC Limited has been accorded with the prestigious status of ‘Navratna’ company by the Government of India.
Bengaluru/IBNS: Indian quick commerce start-up Zepto has raised $340 million in a follow-on financing round led by General Catalyst, with Dragon Fund and Epiq Capital joining as new investors.
New Delhi/IBNS: Vistara, a joint venture of Tata Sons Private Limited and Singapore Airlines Limited (SIA), has announced that it will operate in final flight on November 11, a day before officially merging into Air India.
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Friday (August 30) approved the upgradation of four Central Public Sector Enterprises (CPSEs) to a Navratna status.
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI), the regulatory body for securities and commodity market in the country, on Friday (August 30) cancelled the registration of 68 market intermediaries, including 39 stock brokers, seven commodity brokers and 22 depository participants, due to non-complaints, reports said.
Mumbai: Moody's on Thursday raised India's economic growth forecast to 7.2% for 2024 and 6.6% for 2025, up from its previous estimates of 6.8% and 6.4%, respectively, citing robust and broad-based growth.
Mumbai: Following approval from the chief national competition regulator, the Mumbai bench of the National Company Law Tribunal (NCLT) has cleared the mega merger between Reliance-promoted Viacom18 and Walt Disney-owned Star India, paving the way for the creation of the country’s largest media empire, valued at over Rs 70,000 crore, media reports said.
Mumbai: Bharat Petroleum Corp. (BPCL) is in discussions with lenders to secure nearly Rs 32,000 crore ($3.8 billion), which could become the largest local-currency loan in India this year, Bloomberg reported.
Ahmedabad: Adani Ports and Special Economic Zone Ltd (APSEZ) is set to acquire an 80 percent stake in Astro, a global offshore service vehicle operator, in an all-cash deal for $185 million, implying an EV of $235 million and EV/FY25E EBITDA at 4.4x, said a company press release.
New Delhi: India's GDP growth slowed in the first quarter of the current fiscal year due to the general elections and a reduction in government capital spending during that period, according to Chief Economic Advisor (CEA) V Anantha Nageswaran.
India's real Gross Domestic Product (GDP) growth moderated to 6.7 percent year-on-year during April-June quarter (Q1) of current financial year 2024-25 in contrary to 8.2% registered during the same quarter in the previous year, s per data released by the Indian government on Friday.
Mumbai: HDFC Bank's stock witnessed the exchange of around 4.69 crore shares in multiple block deals totalling Rs 6,997 crore, coinciding with the MSCI indices' August rebalancing, Moneycontrol reported.
Mumbai: India’s fintech industry has garnered an investment of over $31 billion in the last 10 years and the startups in this space have recorded a growth of over 500 percent.
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