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NEW DELHI: The weak refining margins that weighed on the state-owned oil marketing companies’ (OMCs) profitability in Q4FY24 is likely to persist and result in subdued earnings for the country’s downstream petroleum sector in the first quarter of 2024-25. “We expect average gross refining margins of PSU refiners –...
JAIPUR: Rajasthan Finance Minister Diya Kumari on Wednesday proposed Rs 27,000 crore for the health sector and Rs 15,000 crore to provide tap water to 25 lakh rural houses in the state Budget for FY25. Presenting the full budget for the fiscal, she said four lakh vacancies will be...
MUMBAI: Equity benchmark indices declined after hitting their fresh record high levels in early trade on Wednesday amid weak global market trends. The 30-share BSE Sensex climbed 129.72 points to hit a new all-time high of 80,481.36 during the opening trade. But, soon the benchmark retreated and declined 207.47...
NEW DELHI: The Andhra Pradesh government led by Telugu Desam Party (TDP) is likely to support the Centre’s plan for strategic disinvestment of Rashtriya Ispat Nigam Ltd (RINL), also known as Vizag Steel, to revive its fortunes, TDP sources said. The stance of TDP, a key ally of the...
NEW DELHI: Arms of the ministry of corporate affairs (MCA) have stepped up enforcement action in recent quarters to ensure stricter conformity to rules even as the government has reduced the compliance burden of India Inc. Various Registrars of Companies (RoCs) issued a total of 321 orders against firms...
NEW DELHI: The upcoming budget on July 23 is likely to stick to the path of fiscal consolidation, said analysts at Goldman Sachs in a recent note, who expect finance minister Nirmala Sitharaman’s Modi 3.0 budget to focus on the broad economic agenda rather than doling out minor stimulus...
NEW DELHI: The government on Monday reopened the window for fresh applications from companies willing to invest under the Production Linked Incentive (PLI) scheme for white goods and shifted to a system of quarterly processing of incentive claims for the sector. This will be the third round of applications...
NEW DELHI: The divide between the government and the private agencies on India’s employment scenario exacerbated on Monday, with two sets of official statements painting a rosier picture that the private-sector narrative. The labour ministry has issued a “rebuttal” to a recent Citibank report that said the country would...
NEW DELHI: The government should go ahead with disinvestment of public sector banks (PSBs) as they are in good condition, SBI said in its research report on Monday. The report also pitched for the consolidation of existing government-owned banks. “As banks are in good condition, the government should take...
NEW DELHI: The Union Budget FY25 should focus on offering relief to taxpayers, especially in the lower income brackets, to stimulate consumption, industry players suggested. Finance Minister Nirmala Sitharaman is scheduled to present the full Budget for fiscal 2024-25 on July 23 which will be the first major policy...
KOLKATA: Retail prices for vegetables, eggs, and poultry meat remain high in Kolkata markets, causing suffering for the common man. Tomato prices have soared to Rs 80-100 per kg from Rs 45-50 a month ago, while Brinjal is selling for Rs 110-140 per kg, a jump of nearly 150...
NEW DELHI: German luxury carmaker Mercedes-Benz on Monday reported a 9 per cent growth in sales at 9,262 units in India in the first half of 2024, its highest ever half-yearly sales in the country, riding on strong demand across categories and availability of volume models. The company had...
NEW DELHI: The Artificial Intelligence (AI)-Powered Skill India Digital Hub (SIDH) Masterclass, held last week, showcased remarkable global participation, with notable engagement from South African countries. Interestingly, a few from Pakistan and China also took part under India’s flagship skilling platform SIDH. This significant event on July 4, focusing...
MUMBAI: The ‘silence’ of many ‘portfolio management service’ (PMS) firms has raised the regulator’s hackles in a runaway market. The Securities and Exchange Board of India (Sebi) is unable to reach out to a large number of PMS service providers who are not responding to queries, said a senior...
NEW DELHI: The Union Budget for 2024-25 may announce a set of measures to placate the middle class, and the low-income population, which are hit by sticky food inflation and an income stagnation. While policymakers are working out the incentives, official sources said these could include personal income tax...
MUMBAI: The telecom sector workforce growth in FY25 is expected to taper down to around 30% to 6.79 million, just a tad below 31% in FY24, but sharply lower than the 51% in FY23, reflecting the slowing capex of the country’s two large operators – Reliance Jio and Bharti...
NEW DELHI: India Inc is expected to post good profit numbers for the April-June quarter, with sectors like automobiles, banking, metals, capital goods and pharmaceuticals doing reasonably well during the period. Information technology (IT) players are also expected to chip in with a decent performance thanks to an improving...
NEW DELHI: An exporter in Chennai, who runs multiple units, was forced to deregister one of the entities that was registered on Udyam – the portal for micro, small and medium enterprises – as some large buyers did not want to be caught in govt mandate requiring actual payment...