Business and financial news
New Delhi: India's index of industrial production (IIP) rose 10.3% year-on-year in August FY24 on the back of a surge in mining and electricity sector output, data released by the Ministry of Statistics & Programme Implementation (MoSPI) on Thursday showed.
New Delhi/UNI: Ruias-controlled Essar Group is set to announce plans to invest in green hydrogen, power generation and port sector during Vibrant Gujarat summit slated to take place in January next year.
Mumbai: RPG Group, one of India's leading business conglomerates, has announced the appointment of Anant Goenka to the position of Vice-Chairman of the diversified group, the company said in a statement.
Bharti Group has announced that it is acquiring French insurer AXA's 49% stake in Bharti AXA Life Insurance Co., a move that grants Bharti full control over a venture that the two companies jointly operated for nearly two decades, Reuters reported.
New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi approved the amendment to the Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957, also known as the MMDR Act, for specifying the rate of royalty in respect of three critical and strategic minerals, namely, Lithium, Niobium and Rare Earth Elements (REEs), the Ministry of Mines said.
Mumbai: The Reserve Bank of India (RBI), on Wednesday, granted permission to SBI Mutual Fund (SBIMF) to acquire up to 9.99% of paid-up share capital or voting rights in Induslnd Bank.
New Delhi: The government, on Tuesday, tweaked the Production Linked Incentive (PLI) scheme rules for white goods for the selected candidates by modifying the method for assessing production value for internal consumption, sales to affiliated firms, and associated entities.
At just 16 years old, Pranjali Awasthi, an Indian prodigy, has entered the tech arena with her startup, Delv.AI. Her venture, dedicated to streamlining the process of data extraction for research purposes, took off in January 2022.
Mumbai: Tata Consultancy Services (TCS) on Wednesday announced a net profit of Rs 11,342 crore for the Q2FY24, propelled by a robust order book, particularly in the BFSI sector, despite a challenging business environment.
The BSE Sensex on Wednesday gained further by 393.69 pts to close at 66,473.05 on the strength of Telecommunications, FMCG and Auto stocks amid strong global cues.
Kolkata: Bridgestone India and Tata Power have come together to install EV chargers for four-wheelers at Bridgestone dealerships on a pan-India basis.
Mumbai: The Reserve Bank of India (RBI), on Tuesday, directed state-owned lender Bank of Baroda to cease the onboarding of new customers through the BoB World, the bank's digital banking application.
New Delhi: Bibhu Prasad Mahapatra has assumed the charge as the Executive Director on the Board of Punjab National Bank, the Ministry of Finance said on Tuesday.
Mumbai: After its recent equity capital infusion of Rs 3,000 crore, IDFC First Bank is now gearing up to raise the same amount through debt capital, specifically Tier-II bonds, Business Standard reported.
New Delhi: For India to surpass China and emerge as the leading contributor to global growth, it would have to aim for an 8 percent growth rate, a Barclays report said.
Mumbai: Reliance Industries chairman Mukesh Ambani has surpassed Gautam Adani of Adani Group to claim the top spot as the wealthiest Indian in the 360 ONE Wealth Hurun India Rich List 2023.
New Delhi: The gross direct tax collections in October, so far, surpassed Rs 11 lakh crore, reaching Rs 11.07 lakh crore, the Finance Ministry said in a statement on October 10.
New Delhi: The Enforcement Directorate (ED) on Tuesday arrested four executives from the Chinese smartphone manufacturer Vivo, including a Chinese national, reported media.
Thirteen members of a gang, including four women, allegedly involved in trafficking of girls and women were arrested by a joint team of the police and the district probation officer from Robertsganj area of Sonbhadra district here in Uttar Pradesh, a police officer said here on Tuesday.
The BSE Sensex on Tuesday registered a solid gains of 566.97 pts to close at 66,079.36 on the strength of Realty, Metal, Telecommunications and BSE services amid positive global cues.
Mumbai: JSW Group is actively negotiating to acquire a stake in MG Motor India, aiming to introduce an electric vehicle tailored specifically for the Indian market.
San Francisco: ChatGPT’s developer OpenAI is considering the development of its own artificial intelligence chips and has even explored a potential acquisition target, Reuters reported, citing sources.
Mumbai: Abu Dhabi Investment Authority (ADIA) through its wholly-owned subsidiary is set to inject Rs 4,966.80 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, media reported.
New Delhi: World's top cocoa producer Ivory Coast is strategizing to reduce its reliance on Europe and bolster its cocoa industry. India, though not a major cocoa producer, is a key player in this plan, primarily importing beans to meet domestic demand, Moneycontrol reported.
Mumbai: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday announced it will maintain the repo rate at 6.5 percent for the fourth consecutive time.
The BSE Sensex remained strong for another day on Friday, as it spurted 364.06 pts to close strong at 65,995.63 following RBI decision to status quo on the policy rates,
New Delhi/IBNS: Air India, the Tata-owned global airline, has commissioned a mega warehouse facility in Delhi to facilitate storage of over 1,000,000 engineering spares that are integral to maintenance, checks and repairs of its aircraft and ground support equipment.
Atlanta (United States): Tata Consultancy Services (TCS) has been selected by the Georgia Department of Labor (GDOL) to replace its 1980s-era legacy platform with a proven, agile, secure, and scalable cloud-based unemployment insurance system that streamlines the claims process and ensures that eligible individuals receive prompt financial assistance and support when they need it most.
New Delhi/UNI: India's services sector activities continued to be strong in the month of September 2023 driven primarily by robust domestic demand and an upturn in demand from overseas clients.
New Delhi: The Goods and Service Tax (GST) fitment committee has declined the industry's request to reduce the tax on EV batteries and tobacco products, reported Moneycontrol.
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