Volvo CE aims to double market share in India, says MD Dimitrov Krishnan
Volvo CE India, the construction equipment subsidiary of the Swedish major Volvo group, is aiming to double its market share in India, a company's top official said.
Finance
Cabinet approves Viability Gap Funding (VGF) scheme for implementation of offshore wind energy projects
New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, Wednesday approved the Viability Gap Funding (VGF) scheme for offshore wind energy projects at a total outlay of Rs.7453 crore.
Cabinet approves development of an all-weather greenfield deepdraft major port at Vadhavan in Maharashtra for Rs 76,220 cr
New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, today approved setting up a Major Port at Vadhavan near Dahanu in Maharastra.
Union Cabinet green lights MSP for 14 Kharif crops; farmers to gain Rs 35,000 cr compared to previous year
New Delhi: The Union Cabinet announced on Wednesday the minimum support price (MSP) for 14 Kharif season crops, including paddy, ragi, bajra, jowar, maize, and cotton.
Vodafone sells 18% stake in Indus Towers for 1.7 billion euros
Mumbai: British telecom company Vodafone announced on Wednesday that it has sold an 18 percent stake in Indus Towers for 1.7 billion euros (approximately Rs 15,300 crore), reported media.
Banks flag shortage of ATMs to govt, RBI: Report
New Delhi: Banks have reportedly informed the government and Reserve Bank of India (RBI) about shortage in supply of automated teller machines (ATMs), reported Economic Times.
Tata Motors: Jaguar Land Rover signs LoI with JV partner Chery to licence Freelander brand for EV manufacturing in China
Mumbai: Jaguar Land Rover, owned by Tata Motors, announced on Wednesday that it has signed a letter of intent with its Chinese joint venture partner, Chery, to license the Freelander brand for developing electric vehicles in China.
Chipmaker Nvidia is now world's most valuable company
Chipmaking major Nvidia has become the world's most valuable company after its stocks reached all-time high on Tuesday, media reports said.
Elon Musk's salary exceeds Tata Motor's FY24 total revenue: Report
Mumbai: Elon Musk's $56 billion remuneration package exceeds Tata Motors' total revenue for the 2023-24 financial year, which amounted to $52.44 billion (Rs 4.38 lakh crore), reported the Economic Times.
PM Modi releases 17th installment of PM Kisan Samman Nidhi Yojana benefitting over 9.26 cr farmers
Varanasi: During his visit to Varanasi on Tuesday, Prime Minister Narendra Modi released the 17th installment of the PM Kisan Samman Nidhi Yojana, benefiting more than 9.26 crore farmers with a total disbursement exceeding Rs 20,000 crore.
Vodafone Group Plc to sell 9.9% stake in Indus Towers on Wednesday
Mumbai: Vodafone Group Plc, a promoter entity of Vodafone Idea Ltd, is expected to sell up to 9.94% equity through block deals in Indus Towers Ltd on Wednesday, reported CNBC-TV18.
Net direct tax collection grows 21% YoY to over Rs 4.62 lakh cr in Apr-Jun
New Delhi: India's net direct tax collections have increased by 21 percent year-on-year, reaching over Rs 4.62 lakh crore from April 1 to June 17, according to the income tax department on Tuesday.
Food inflation biggest challenge in disinflationary process: RBI Guv Shaktikanta Das
Mumbai: Despite the central bank's efforts to reduce India's retail inflation to its 4 percent target, the final stages of the disinflationary process are challenging due to persistently high food prices, Reserve Bank of India Governor Shaktikanta Das stated at an event on Tuesday.
SBI to raise Rs 10,000 cr via infra bonds: Report
Mumbai: The State Bank of India (SBI), the country's largest lender, has initiated discussions with market participants to raise approximately Rs 10,000 crore ($1.20 billion) through infrastructure bonds, reported Reuters, citing to two merchant bankers on Tuesday.
Coal India to explore lithium blocks in Argentina in collab with US company: Report
New Delhi: State-owned Coal India Ltd is exploring lithium blocks in Argentina in collaboration with a US company to secure supplies of this crucial battery material, reported Reuters.
Indian Hotels Company expands its footprint in Bhutan with the signing of an 83-key hotel in Thimphu
Indian Hotels Company (IHCL), India’s largest hospitality company, further strengthens their footprint in Bhutan with the signing of an 83-key hotel in Thimphu. This hotel will be rebranded to an IHCL – SeleQtions.
CII President Sanjiv Puri feels India will be third-largest economy in next few years
A top Indian industry chambers body's head has claimed India will become the world's third-largest economy in the next few years.
Sensex, Nifty 50 hit lifetime highs after Narendra Modi takes oath as PM
Mumbai/IBNS: Indian stock market hit a fresh lifetime high in early trade on Monday (June 10), with benchmark indices Sensex and Nifty 50 rising above 77,000 and 23,400, respectively, after Narendra Modi took oath as India's Prime Minister for a third consecutive time.
RBI says India's forex reserves hit all-time high of $651.5 billion
The Reserve Bank of India recently said India's forex reserves has moved up to touch USD 4.837 billion to touch a new all-time high of USD 651.51 billion for the week ended May 31.
Entrepreneur Elon Musk posts 'Thank You' note for Indian-origin techie Ashok Elluswamy behind success of Tesla's AI team
Tech entrepreneur Elon Musk on Sunday expressed gratitude to Indian-origin techie Ashok Elluswamy, appointed as the first member of the Tesla autopilot team.
Adani Ports bags 5-year O&M contract of container facility in Kolkata's Syama Prasad Mookerjee Port
New Delhi/IBNS: Adani Ports and Special Economic Zone Limited (APSEZ) announced that it has received the letter of intent (LOI) for the operation and maintenance (O&M) of the container facility in Kolkata's Syama Prasad Mookerjee Port, reports said.
NCLT gives nod for Vistara-Air India merger
Chandigarh/IBNS: The National Company Law Tribunal (NCLT), a quasi-judicial body in India that adjudicates issues relating to Indian companies, at Chandigarh has given its nod for a merger between two airline companies -- Air India and Vistara.
Oil prices plunge on deflated US interest rate cut expectations, OPEC+ decision
New York/IBNS: Oil prices plunged on Friday and posted a third straight weekly loss as investors weighed OPEC+ reassurances against the latest United States jobs data that lowered expectations that the Federal Reserve will cut interest rates soon, reports said.
Chandrababu Naidu's wife earns Rs 584 cr as Heritage Foods stock soars 64% in 5 days
Mumbai/IBNS: With a 64 percent surge in the last five days, the post-Lok Sabha election results uptrend in Heritage Foods shares is one of the significant stock-specific developments in the Indian stock market.
Nifty Realty Index rises 1.55% as RBI keeps repo rate unchanged
Mumbai/IBNS: The rate-sensitive Nifty Realty Index on Friday surged over 1.55 percent as the Reserve Bank of India (RBI) kept the repo rate and liquidity stance unchanged during the June 2024 monetary policy review.
Tata Motors launches Altroz Racer
Indian automobile major Tata Motors on Friday announced the launch of the Altroz Racer - the sporty avatar of the company’s premium hatchback.
Fractured Lok Sabha election verdict unlikely to impact RBI’s monetary policy: Experts
Mumbai/IBNS: The Lok Sabha election 2024 results, which did not throw up a clear mandate for any party, are unlikely to have any bearing on the stance of the Monetary Policy Committee (MPC), as the MPC's decisions are based on domestic and global economic conditions, Moneycontrol reported citing experts.
RBI keeps lending rate unchanged at 6.5%
New Delhi/IBNS: The Reserve Bank of India (RBI) has kept the key lending rate unchanged at 6.5% in its new monetary policy announced on Friday.
Boeing's Starliner launches its 1st astronaut-crewed space flight on third try
Washington/IBNS: Boeing on Wednesday successfully lifted off its new Starliner astronaut capsule from Florida in a much-delayed first test flight carrying a crew, a milestone in the aerospace giant’s ambitions to step up its competition with Elon Musk’s SpaceX.
Heritage Foods, other TDP-linked stocks extend record run after Chandrababu Naidu's election triumph
Mumbai/IBNS: Shares of Telugu Desam Party (TDP)-linked stocks, including Heritage Foods Ltd and Amara Raja Energy & Mobility Ltd, on Thursday (June 6) extended their winning runs for the second straight day on Dalal Street, as the TDP leader N Chandrababu Naidu -- an NDA ally -- is seen playing a key role in the formation of next NDA 3.0 government at Centre.