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NEW DELHI: India’s economy growth slowed to a four-quarter low of 7.8 per cent in the January-March period, but pushed the annual growth rate for FY24 to 8.2 per cent, mainly on account of good showing by manufacturing, official data showed on Friday. The growth propelled the Indian economy...
MUMBAI: Notwithstanding the lacklustre performance in the March quarter, some of the leading steel company stocks have rallied on hopes revival in government spending in infrastructure to boost demand post-election. Shares of Tata Steel has moved up 9 per cent to ₹164 on Friday against ₹150 a piece on...
NEW DELHI: The Centre contained its fiscal deficit at 5.6% of gross domestic product (GDP) in FY24, beating revised estimate of 5.8% on the back of improved resource mop-up and curtailed revenue expenditure, putting it on track to adhere to the glide path. In absolute terms, the FY24 fiscal...
NEW DELHI: The output of India’s eight key infrastructure industries expanded 6.2 per cent year-on-year (Y-o-Y) in April, aided by robust growth in sectors such as steel, electricity and natural gas. In comparison, the growth in output was 4.6 per cent in April 2023. However, growth in these industries...
NEW DELHI: After mopping up nearly Rs 4,300 crore from the proceeds of Bharti Hexacom’s public listing in April by selling a 15% stake, state-owned Telecom Consultants of India (TCIL) is now looking at selling the balance 15%, after telecom tariff hikes, officials said. The market is expecting a...
MUMBAI: The India hubs of multinationals that employ millions are increasingly resorting to hiring of contingent workforce, which helps them address immediate talent requirements even as they remain cautious on permanent recruitments amid a bearish global outlook. There has been a considerable increase in demand for gig employees in...
NEW DELHI: Finance minister Nirmala Sitharaman on Friday said the Modi government has turned around the banking sector through various reforms and improved governance which has led to banks recovering more than Rs 10 lakh crore from bad loans between 2014 and 2023. She said the Enforcement Directorate has...
NEW DELHI: Travel tech platform OYO reported financial year 2023-24 as the maiden profitable fiscal with a net earning of nearly Rs 100 crore, founder Ritesh Agarwal said on Thursday. In a post on social media platform X, Agarwal said he sees growth ahead “not just in India” but...
NEW DELHI: Raj Comics, the venerated publishing house that has long been synonymous with Indian comic book superheroes, announces the launch of the live-action short film series, “The Alliance: Project Metamorphosis Chapter 1 released today. This ambitious project reintroduces beloved characters such as Super Commando Dhruva and Doga, reigniting...
MUMBAI: Equity benchmark indices rebounded in early trade on Friday, after falling for the past five days, amid a rally in Asian markets along with buying in index majors Larsen & Toubro and Mahindra & Mahindra. The 30-share BSE Sensex climbed 550.22 points to 74,435.82 in early trade. The...
NEW DELHI: The Indian economy is on a firm footing with improved external sector sustainability and robust corporate balance sheets, which along with a thrust on production-linked incentive (PLI) schemes would foster job creation, the Reserve Bank of India said in its annual report issued Thursday. The central bank...
MUMBAI: The Reserve Bank of India (RBI) will boost ongoing efforts toward the internationalisation of the rupee by bringing regulatory changes for non-residents while taking steps to bolster the GIFT City’s appeal vis-à-vis other international financial centres. “Efforts are underway toward internationalisation of the Indian Rupee (INR) through settlement...
MUMBAI: From adoption of the expected credit loss (ECL) model for asset classification to a comprehensive review of loan rates, the Reserve Bank of India (RBI) will be announcing far-reaching regulatory measures in 2024-25 (FY25) for the financial sector with a view to making regulations “more principle-based, actively-oriented and...
NEW DELHI: The R&D spends of Indian firms are growing faster than global firms albeit on a low base, said a latest report by Foundation for Advancing Science and Technology (FAST India). The study pointed out that the Indian firms have reported higher growth in R&D spends than global...
SINGAPORE: The United Arab Emirates is looking to expand the scope of trade and services covered under the Comprehensive Economic Partnership Agreement (CEPA) with India to further accelerate bilateral trading volume, a senior UAE official said here on Thursday. India and the UAE signed the historic CEPA on February...
NEW DELHI: India’s peak electricity demand touched a new high of 250 GW on Thursday as the temperatures rose across states, according to data provided by the power ministry. At this level, the peak power demand had already crossed last year’s peak of 243.3 GW recorded in September. Meanwhile,...
MUMBAI: Hiring of women for leadership roles has increased to 23.2 per cent across sectors in early 2024 even though employers are yet to achieve gender parity in top management, a report said on Thursday. Women leadership hires have shown significant growth over the years to 23.2 per cent...
MUMBAI: The number of frauds in the banking sector went up to 36,075 in 2023-24 year-on-year, but the amount involved reduced by 46.7 per cent to Rs 13,930 crore, according to the Reserve Bank’s annual report released on Thursday. The RBI report also said that with an aim to...