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MUMBAI: Stock markets rebounded on Thursday with benchmark Sensex closing higher by 128 points as record GST collections in April, positive manufacturing data, and foreign fund inflows boosted investor sentiment. The 30-share BSE Sensex climbed 128.33 points or 0.17 per cent to settle at 74,611.11. During the day, it...
NEW DELHI: Public investment will be the primary growth driver for India as the economy expands by 6.8% in the current fiscal, the International Monetary Fund said Tuesday in its Regional Economic Outlook for Asia and Pacific. “In China and India, we expect investment to contribute disproportionately to growth—much...
NEW DELHI: India’s core sector growth eased to 5.2% in March from 7.1% in the preceding month as most infrastructure industries slowed, according to government data released Tuesday. Sequentially, growth in the index of eight core industries that represent infrastructure output was up 9.9%. For FY24, core sector growth...
NEW DELHI: The government is rethinking a plan to usher in the cross-border insolvency regime, as some sections feel that enforcement may be challenging in the current circumstances, multiple official sources told FE. “It’s likely that the government may not introduce the cross-border insolvency norms anytime soon,” a senior...
MUMBAI: The Securities and Exchange Board of India’s (Sebi) board on Tuesday approved a proposal to increase participation from non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) through the foreign portfolio investor (FPI) route in local markets. The board also cleared a proposal to simplify norms for passive...
NEW DELHI: Exporters who witnessed a 3.1% annual decline in shipments last fiscal are again upbeat as order inflows have seen a significant rise in April, the first month of new fiscal year. Orders have risen across key sectors in April as compared to March and April of last...
India’s gold demand rose 8 per cent annually to 136.6 tonne in the March quarter helped by a strong economic environment despite prices touching historic highs, according to the World Gold Council. The aggressive gold buying by the Reserve Bank of India (RBI) also contributed to the rise in...
NEW DELHI: Patanjali Foods has been served a show cause notice by the GST intelligence department, asking the company to explain why input tax credit worth Rs 27.46 crore should not be recovered from it. The Yoga guru Ramdev-led Patanjali Ayurved Group firm, which is mainly into the edible...
MUMBAI: The rupee declined 10 paise to close at 83.48 (provisional) against the US dollar on Monday, as investors remained cautious ahead of the US Federal Reserve’s monetary policy decision. A robust sentiment in the domestic equity market and softening crude prices in the international market, however, cushioned the...
MUMBAI: The SEBI board on Tuesday approved measures to deter front-running at asset management companies. This will be through an institutional mechanism that will consist of enhanced surveillance systems, internal control procedures, and escalation processes to identify, monitor, and address specific types of misconduct, including front-running, insider trading, and...
Global Capability Centres (GCC) are leading the charge for a diverse workforce with 28 per cent women in their workforce, according to a report by Pure Storage in association with Zinnov. The report also highlighted challenges in achieving gender parity within deeptech organisations, where gender diversity currently stands at...
NEW DELHI: The growth in factory output, as measured by the Index of Industrial Production (IIP), is likely to slow down to around 4.7% in FY25 from an estimated 6.1% in FY24, in the backdrop of the statistical effect of a high base and fading away of pent-up demand,...
NEW DELHI: Despite paucity of manpower available with the government, a record 125 Advance Pricing Agreements (APAs) were signed during FY24, in what experts believe shows the APA teams have become more efficient. “The government has multiple APA teams spread across the country and with every year, both taxpayers...
NEW DELHI: India’s share in global services exports has more than doubled over the last 18 years and rise of global capability centres (GCCs) has played a crucial role in the expansion, a global report said on Monday. The proliferation of GCCs has given a boost to real estate,...
MUMBAI: At a time when overseas capital flows have been firm, foreign lenders have requested the banking regulator for flexibility in compliance with the central bank’s Large Exposures Framework (LEF), particularly in handling certain types of accounts that facilitate global transactions. Banks have requested the Reserve Bank of India...
BENGALURU: Escalating construction costs are forcing real estate players to optimise their expenditures and readjust their pricing strategies to strike a balance between profitability and meeting customer requirements. A recent JLL report stated that the overall construction cost in the country will experience an average increase of 6 per...
GURUGRAM: Nestle India Chairman & Managing Director Suresh Narayanan on Monday asserted that the company’s infant food formulation for children below 18 months is done on a global basis and the allegation that “it is racially stereotyped is unfortunate” and untrue. Addressing reporters here, he said the amount of...
NEW DELHI: HCL Technologies’ FY25 guidance of 3-5 per cent represents a “good growth” in current environment, CEO C Vijayakumar said, adding cloud migration and GenAI projects are gaining traction but financial services vertical could face ‘headwinds’. Vijayakumar told PTI in an interview that HCL Technologies (HCLTech) is keen...