MUMBAI: Benchmark equity indices Sensex and Nifty declined nearly 1 per cent on Wednesday, falling for the fourth day running amid profit-taking by cautious investors ahead of the results of the Lok Sabha polls. The 30-share BSE Sensex declined 667.55 points or 0.89 per cent to settle at 74,502.90....
NEW DELHI: The commerce ministry held deliberations with experts, former officers and senior officials from different departments on framing a standard operating procedure for free trade pacts and other related issues under these agreements, an official release said on Tuesday. The commerce ministry in the release stated that the...
MUMBAI: Bank credit growth is expected to moderate to 14 per cent in the current financial year (FY25) after an estimated robust growth of about 16 per cent year-on-year (Y-o-Y) in FY23 and FY24. The growth in FY25 will be tempered by a high base effect, a revision in...
NEW DELHI: India could increase its FY25 capital expenditure outlay by 8-10% from the ₹11.11 lakh crore allocated in the vote on account when the full budget is presented thanks to better-than-expected tax revenue and a record surplus transfer by the RBI to the government. “Both tax and non-tax...
NEW DELHI: As the multi-national companies recognise the importance of diversifying supply chains, India and Vietnam are the key beneficiaries as global firms are looking for supply chain alternatives outside of China, a new report by global investment bank Nomura has stressed. India and Vietnam are gaining the most...
NEW DELHI: Bharti Airtel, Reliance Jio, and Vodafone Idea have sought a 5-6 year interest-free payment gap or moratorium on the spectrum bought in auctions in 2025 and beyond. Spectrum is leased to operators for a 20-year period, so this means, the operators want that they pay for only...
NEW DELHI: The income tax department on Tuesday asked taxpayers to link PAN with Aadhaar by May 31 to avoid tax deduction at a higher rate. As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted...
NEW DELHI: Minority shareholders are expected to benefit from the demerger of ITC’s hotel business into a separate entity, ITC Hotels, as it may unlock value for them and improve return ratios of the FMCG major, as per reports of four proxy advisory firms. The reports from proxy advisory...
NEW DELHI: LIC chairman Siddhartha Mohanty has said that the insurer would enter into the health insurance segment and can explore inorganic options if such an opportunity arises. There are expectations that composite licences may be permitted by amending the Insurance Act. As per the Insurance Act, 1938, and...
NEW DELHI: A significant percentage of employers in India are taking active measures to promote diversity and gender parity through progressive policies, upskilling, and flexibility and have realigned their hiring strategies by mandating women hiring at every level across sectors, says a report. According to New research conducted by...
NEW DELHI: In an escalation of the ongoing dispute, SpiceJet on Tuesday said the claims made by KAL Airways and Kalanithi Maran for more than Rs 1,323 crore in damages are baseless and legally untenable. On Monday, KAL Airways and Kalanithi Maran said they will seek more than Rs...
NEW DELHI: KAL Airways and Kalanithi Maran on Monday said they will seek more than Rs 1,323 crore in damages from SpiceJet and its chief Ajay Singh as well as challenge the recent Delhi High Court order in the ongoing dispute between the two sides. On May 17, a...
NEW DELHI: A groundbreaking technology promises to enhance the incomes of millions of rice farmers using Direct Seeded Rice (DSR), while significantly reducing labor costs and greenhouse gas emissions by about 25 per cent. This innovation will also conserve water, promote sustainable agriculture, enhance yields, and support the Government...
CHENNAI: Automaker Hyundai Motor India Limited (HMIL) on Monday announced the inauguration of its fast electric-powered vehicles (EV) charging station here, and said this was first of the company’s target of installing 100 such facilities across Tamil Nadu. The 180 kW DC fast charging station, comprising of 150 kW...
MUMBAI: High Street Essentials, the makers of fashion brand Indya, on Monday announced a Rs 50-crore fundraise from JSW Group chairman Sajjan Jindal’s wife Sangita Jindal and other investors. Three fourths of the funding is equity infusion for a minority stake, while the rest is debt, Indya’s co-founder Shivani...
MUMBAI: The rupee pared its initial gains and settled for the day lower by 4 paise at 83.14 (provisional) against the US dollar on Monday, mirroring the benchmark indices that erased their gains and ended the day off their record-high levels. Forex traders said the rupee settled in a...
NEW DELHI: Goldman Sachs revised upwards its forecast for India’s gross domestic product (GDP) growth for calendar year 2024 (CY24) by 10 basis points (bps) to 6.7 per cent. It expects the Reserve Bank of India (RBI) to cut interest rates during the fourth quarter of the current calendar...
MUMBAI: Foreign portfolio investors (FPIs) are in a bind after a recent notification by the Reserve Bank of India (RBI) that aims to regularise the issuance of partly-paid units by alternative investment funds (AIFs). While the central bank’s move paves the way to issue these units, industry players fear...