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NEW DELHI: Companies are bracing for further litigation, questioning the methodology used by the National Anti-Profiteering Authority (NAA), while arguing that the agency did not look at the overall costs before seeking a price cut in cases where GST or the total indirect tax was lowered. On Monday, the...
MUMBAI: Listed private sector banks reported a 23.8 per cent year-on-year (YoY) growth in net profit at Rs 43,543 crore in the third quarter of Financial Year 2023-24 (Q3 FY24) on, gaining from high credit offtake and fall in costs. Sequentially, however, profits sharply moderated with just 1.8 per...
CHENNAI: After India created history through Chandrayaan-3’s soft landing on the moon last year, the booming private sector space industry in the country is pinning hopes on this year’s interim Budget. The sector is upbeat that the Centre will open up foreign direct investment (FDI), introduce a production-linked incentive...
NEW DELHI: Former Railway Board Chief Anil Kumar Lahoti has been appointed as the chairman of the Telecom Regulatory Authority of India (TRAI). The top position at TRAI fell vacant after the tenure of former chairman PD Vaghela ended about four months back. “The Appointments Committee of the Cabinet...
NEW DELHI: India has sought investment commitments from Switzerland under the proposed free trade agreement with the four-nation EFTA bloc, a top government official said on Tuesday. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. The official also said negotiations for the pact are...
NEW DELHI: Leading furniture retailer Ikea has introduced doorstep delivery facility in 62 new markets in India, and the company expects online demand to go up in the coming years, the company’s India CEO Susanne Pulverer said. At present, Ikea India gets around 25 per cent of its sales...
NEW DELHI: State-owned Bharat Petroleum Corp Ltd has set it capital expenditure target for 2024-25 at Rs 15,000 crore, the company said on Tuesday. Further, it also aims to expand its market networks with new pipelines underway. “Augmenting strong marketing networks, we have approved two pipeline projects from Mumbai...
Steel makers expect continued focus on the infrastructure spending, push to domestic manufacturing, and measures to check rising imports in the upcoming interim Budget. In the 2023-24 Budget, Union Finance Minister Nirmala Sitharaman announced a capex of Rs 10 lakh crore for infrastructure development. “The government should continue the...
NEW DELHI: Finance ministry on Monday said the Indian economy has remained resilient amid global headwinds on the back of robust domestic demand, an investment-led strategy due to a transformed climate and high level of public spending, macro-economic stability, apart from a spate of reforms initiated by government over...
NEW DELHI: The Indian economy is likely to achieve a growth rate of 7% in fiscal year 2025 after growing at or above 7% in 2023-24, driven by resilient domestic demand despite risks and uncertainties in the global economic landscape, according to a review of the economy unveiled on...
MUMBAI: Drawing from a viral meme, Kumar Mangalam Birla, chairman of the Aditya Birla Group, on Monday said the Indian economy’s vibrant energy is ‘looking like a wow’. A deeply impactful pulse of confidence in the nation is palpable, the billionaire said in his new year message, adding that...
MUMBAI: Banks are unlikely to get any respite from declining current account-savings account (CASA) ratio in the first half of the current calendar year. Bankers do not expect any improvement in CASA ratio in near term as high interest rates on fixed deposits will keep attracting funds from current...
NEW DELHI: India’s import of crude oil reached a multi-year high of 4.9 million barrels a day in January and increased 13% from December 2023, according to data from energy cargo tracker Vortexa. Indian refiners cumulatively had imported 4.3 million barrels a day in December. The country imported 1.20...
NEW DELHI: Having reaped rich dividends from the Reserve Bank in the current financial year, the government will be looking forward to receiving about Rs 70,000 crore from the central bank and the financial institutions (FIs) in the next financial year. In the interim Budget to be unveiled in...
NEW DELHI: Union Agriculture Minister Arjun Munda on Monday launched a framework to promote the Voluntary Carbon Market (VCM) in the farm sector and said this will encourage small and medium farmers to avail benefits of carbon credit. Introducing farmers to the carbon market will not only benefit them...
NEW DELHI: Adani Green Energy Ltd (AGEL) on Monday said it has completed the funding for redemption of its USD 750 million bonds, eight months ahead of their maturity. The Adani Group company had raised USD 750 million through the issuance of NCDs (non-convertible debentures) which will mature in...
NEW DELHI: National Institute of Securities Market (NISM), an educational initiative by markets regulator Sebi, has invited applications for filling up the position of director. The director of NISM is the Principal and Chief Executive Officer of the institute. Sebi-run NISM is one of the largest financial market certifying...
GURUGRAM: Korean electronics major Samsung plans to start manufacturing laptops at its Noida factory in India this year, a senior company official said on Monday. Terming India as its important manufacturing base, Samsung Electronics President and Head of Mobile eXperience (MX) Business TM Roh told reporters here that the...