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NEW DELHI: The world’s largest asset manager BlackRock, as well as the Abu Dhabi Investment Authority, along with domestic mutual funds like ICICI Mutual Fund and Nippon India Mutual Fund have increased their holdings in Vedanta by almost 2 per cent during the last four months, said market participants....
NEW DELHI: Clamping down for illegal fundraising activities, the corporate affairs ministry has slapped fines totalling nearly Rs 10 crore on two companies and nine individuals as they violated private placement norms. The fines have been imposed on Planify Capital and four individuals as well as on Mayasheel Retail...
NEW DELHI: Leading industry players expect improving macro-indicators and expectations of good monsoon and rabi crops to drive consumer demand for FMCG in the current fiscal. Consumer demand for FMCG (fast-moving consumer goods) remained sluggish amid a subdued operating condition in the March quarter. The industry expects a mid-to-high-single-digit...
MUMBAI: The Reserve Bank of India’s (RBI’s) six-member Monetary Policy Committee (MPC), led by Governor Shaktikanta Das, has decided to maintain the status quo on both policy rate and stance for the seventh consecutive time. This decision is driven by the central bank’s commitment to ensuring last-mile disinflation, with...
HYDERABAD: The Insurance Regulatory and Development Authority of India (Irdai) is increasing its scrutiny of venture-funded startups that are aiming to become insurance companies, following the spate of financial irregularities at several new-economy firms, people aware of the matter said. To begin with, companies seeking a licence are required...
NEW DELHI: Consumer confidence in India is at the highest level since mid-2019, according to the latest bi-monthly survey conducted by the Reserve Bank of India on Friday. “Consumer confidence for the current period has been on a path of sustained recovery; respondents assessed improvement in all survey parameters;...
NEW DELHI: The government is likely to abandon the plan to set up three more dedicated freight corridors (DFCs) – East Coast, East-West and North-South – at an estimated combined cost of Rs 2 trillion. The Centre may instead opt for a few commodity-specific rail networks, a senior railway...
As most workplaces are in the midst of the appraisal season, a talent company has told Business Standard that the average corporate salary increment in India was expected to be somewhere in the range of eight to 11 per cent across levels this year. According to Randstad India, junior...
India’s diesel exports to Asia slumped 63% month-on-month in March as increased competition from Chinese and South Korean suppliers eroded margins. Indian refiners exported 61,000 barrels per day (bpd) of diesel in March to customers in Asia, down from 163,000 bpd in February, according to energy cargo tracker Vortexa....
NEW DELHI: An increasing trend in gas prices and an extended winter, which reduced gas-based power demand, led to over 80 per cent fall in monthly natural gas volumes traded on the Indian Gas Exchange Limited (IGX) to 1.13 metric million British thermal units (mmBtu) in March, the company...
Hydroelectric power projects with an aggregate capacity of 15 GW are under construction in the country, which will increase the hydro capacity by more than 50 per cent from 42 GW to 67 GW by 2031-32, the Ministry of Power said on Friday. The Indian Meteorological Department (IMD) has...
Israel Aerospace Industries (IAI) has enhanced its defence collaboration with India, focusing on joint development and support for the Medium-Range Surface-to-Air Missile (MR-SAM) system, alongside the establishment of a dedicated local subsidiary for maintenance and upgrades. IAI has strengthened its defence partnership with India by focusing on MRSAM which...
MOSCOW: One ship is likely to be handed to the Indians in September, with another being delivered early next year. The delivery of the ships are two years behind schedule due to the war in Ukraine, the officials said, asking not to be named because of the sensitivity around...
MUMBAI: Giving a temporary relief to forex traders that could lead to significant reduction in the impact cost and cool down the exchange-traded currency derivatives (ETCD) market, the Reserve Bank of India (RBI) on Thursday deferred the implementation of new rules for foreign exchange derivatives to May 3. The...
NEW DELHI: The government has decided to expand the whet procurement drive to more regions, to bolster the stocks that are hovering around the buffer level. However, it won’t lift the export restrictions on rice anytime soon or allow shipments of sugar this season, as it remains focussed on...
NEW DELHI: India’s services sector posted one of the strongest expansions in total sales and business activity in nearly 14 years in March, led by buoyant demand and record export orders, a private survey showed Thursday. The seasonally adjusted HSBC India Services Business Activity Index rose to 61.2 in...
MUMBAI: The Reserve Bank of India on Thursday provided an additional month to comply with directions on exchange traded currency derivatives while aiming to quell speculation about the status of mandatory underlying contracts. This comes after recent market turbulence sparked by uncertainty over the need to prove that trades...
NEW DELHI: India is expected to lose around 5.8 per cent of daily working hours due to rising temperatures by 2030, leading to erosion in productivity and lower collection of fiscal revenue, said a recent report released by the United Nations Economic and Social Commission for Asia and the...