Business
Delhi Discoms Achieve A+ Rating In Consumer Service 2023-24
NEW DELHI: In a major achievement for Delhi’s power sector, the city’s discoms, including BSES Rajdhani Power Limited (BRPL) and BSES Yamuna Power Limited (BYPL), have been awarded the highest A+ rating in the fourth edition of the Consumer Service Ratings of Discoms for the year 2023-24. Released by...
Sensex Tumbles Over 850 Points On Weak Global Cues
MUMBAI: Falling for the fifth straight session on Monday, equity benchmark BSE Sensex plunged over 850 points to drop below the crucial 75,000 level, tracking a weak global market trend and unabated foreign fund outflows amid escalating trade tensions. Besides, deep losses in IT, telecom and metal stocks added...
US Reciprocal Tariffs May Hit Exports Of India-Made iPhones, Auto Parts
NEW DELHI: Apple could be one of the biggest losers in case the Trump administration decides to slap reciprocal tariffs on import of electronics and smartphones from India as the move may put a spanner in its growing manufacturing investments here. The situation is equally grave for auto component...
UK FTA Talks To Resume After Eight Months
NEW DELHI: After a gap of eight months, India and the UK will resume negotiations on a free trade agreement (FTA) on Monday under the shadow of Trump tariffs that have plunged the world into uncertainty. Prior to the opening of the 15th round of negotiations, UK secretary of...
Private Banks Pare CD Ratios Amid Tight Liquidity
MUMBAI: Private banks have pared their credit-deposit (CD) ratios as they focus on a deposit growth higher than advances amid tight liquidity conditions. The average CD ratio, also known as loan-to-deposit ratio (LDR), has decreased to 90.74% at the end of the December quarter of the current financial year...
SEBI Mulls Expanding Pool Of Investors For Angel Funds
NEW DELHI: Markets regulator Sebi is looking to expand the definition of qualified institutional buyers (QIB) and remove the 200-investor cap, allowing angel funds to access a broader pool of accredited investors. This move will enable more wealthy investors to participate, boosting funding for startups. It ensures that only...
IT Services Sector May See Cautious Salary Hikes In FY25: Experts
NEW DELHI: Salary increments in India’s $250 Billion IT services sector are projected to be moderate in fiscal year 2025, as companies navigate a complex landscape of global economic uncertainties, evolving skill demands, and the increasing adoption of artificial intelligence (AI), according to experts. Industry experts predict an average...
India’s Coal Imports Remain Flat At 201 Million Tonnes
NEW DELHI: India’s coal imports remained flat at 201.30 Million tonnes (MT) in the April-December period of the ongoing financial year. The country’s coal import was 201.52 MT in the year-ago period, according to the data compiled by mjunction services, a leading name in the e-auction space. Coal import...
Climate Change May Increase Probability Of Default In Agriculture Loan Portfolio: BCG
NEW DELHI: Rising temperature and growing threat of climate change may increase default risk in 30 per cent of agri and housing loans portfolio in the next five years, according to an analysis by BCG. According to the report, the average global temperature has already increased approximately 1.2 degree...
Adani Companies Tax Contribution Reaches Rs 58,104 Crore For FY 2023-24
AHMEDABAD: In line with its commitment to practising the highest standard of governance and commitment towards all its stakeholders, the Adani Group, a global leader in infrastructure development, has announced the release of its Tax Transparency Reports for the financial year 2023-24. For the financial year 2023-24, the Adani...
Rural Market At Inflection Point, Offers Opportunities: Marico CEO
MUMBAI: The “aspirational” rural market is at an “inflexion point”, which offers significant opportunities and long-term potential to the FMCG companies with price point packs, said Marico M D and CEO Saugata Gupta. The hinterland, with its large population base and rising disposable income offers ‘headroom for growth’ for...
Eight Of Top-10 Most Valued Firms Erodes Rs 1.65 Lakh Crore
NEW DELHI: The combined market valuation of eight of the top-10 most valued firms eroded Rs 1,65,784.9 Crore last week, with Tata Consultancy Services (TCS) taking the biggest hit, in line with bearish trends in equities. Last week, the BSE benchmark declined 628.15 points, or 0.82 per cent, while...
US Can Go Beyond Rates To Coerce India Under Reciprocal Tariff Plan
NEW DELHI: While the world awaits clarity on what the reciprocal tariff plan would look like, the US has kept sufficient leeway to impose punitive taxes on imports in the guise of addressing non-tariff barriers if the levelling of levies do not produce results it wants, according to a...
Five State-Run Firms Identified For Listing: Govt Explores Ways To Privatise Indebted Discoms
NEW DELHI: The government has identified five state-owned power generation and transmission companies for listing on the stock exchanges to enable them to meet the investment requirements for augmenting capacity. Andhra Pradesh Power Generation Corporation and Gujarat Energy Transmission Corporation are among the five companies that are in the...
Services Sector Growth Pushes India’s Private Sector Output To 6-Month High
NEW DELHI: Private sector output in India increased at the fastest pace in six months during February, amid a quicker expansion in services activity, according to the HSBC flash Purchasing Managers’ Index (PMI) survey released on Friday. The index compiled by S&P Global rose to 60.6 in February from...
Government’s Extra Outgo Due To UPS Likely Around Rs 8,500 Crore In FY26
NEW DELHI: The Centre has made an upfront provision of Rs 7,000 crore in the Budget for the next financial year and may top it up with another Rs 1,500 crore after an assessment of the contribution required for assured 50% of the pay as pension for its staff...
RBI Proposes Zero Foreclosure Fee On Business Loans Taken By Individuals/MSEs
MUMBAI: The RBI on Friday proposed to do away with foreclosure charges or pre-payment penalties charged by banks and other lenders on all floating rate loans, including for business purposes, availed by individuals as well as micro and small enterprises (MSEs). In terms of the extant norms, certain categories...
Rate Cut Appropriate Monetary Policy Response: RBI Governor
MUMBAI: Reserve Bank of India (RBI) Governor Sanjay Malhotra opined that rate reduction was an appropriate monetary policy response at this juncture citing movement of inflation towards the central bank’s 4 per cent target, said the Monetary Policy Committee (MPC) meeting minutes released on Friday. Malhotra, along with five...
