Business
FPIs Invest Rs 11,000 Crore In Indian Equities In September
NEW DELHI: Foreign investors infused nearly Rs 11,000 crore in domestic equities in the first week of the month owing to resilience of the Indian market and expectations of rate cut in the US. Foreign Portfolio Investors (FPIs) have been consistently buying equities since June. Before that, they had...
Govt Notifies Uniform Marketing Code For Medical Devices Sector
NEW DELHI: The government has notified a uniform code for marketing practices for the medical device industry in order to curb unethical practices. In a notification, Department of Pharmaceuticals (DoP) has asked the medical devices association to prohibit organising workshops abroad for healthcare professionals, offering them hotel stays or...
Gujarat Targets 48 MW Solar Rooftops On Govt Buildings
AHMEDABAD: Solar rooftop systems of 48 MW will be installed on various government buildings in Gujarat in the current financial year for which Rs 177 crore have been allocated, the state government said on Sunday. To tap into Gujarat’s solar energy potential, the state Climate Change Department is actively...
DICGC Introduces Daava Soochak For Depositors
NEW DELHI: The Deposit Insurance and Credit Guarantee Corporation (DICGC) has launched an online tool Daava Soochak for depositors to track their claim status. The DICGC’s mandate since its inception has been the reimbursement of insured amounts to depositors of failed banks. Daava Soochak, a user-friendly online tool, is...
Glenmark Forecasts Strong Growth For Domestic Formulations
NEW DELHI: The drug formulations market in India is expected to grow at a CAGR of 9-10 per cent over the next decade with Jan Aushadhi outlets anticipated to emerge as a much stronger player in the country, according to Glenmark Pharmaceuticals. The domestic formulations market is estimated to...
App-centric Gen Z Reshaping Consumer Landscape
NEW DELHI: The digitally-native, app-first Gen Z cohort is assuming the centre stage in India’s consumer markets by scripting “big shifts” in consumption trends, including the rise of quick commerce delivery and direct-to-consumer brands, according to a report by Bernstein. Brands are seeking a deeper connection with this digitally-native,...
GST Council To Discuss Slabs Rejig, Give Relief On Health Insurance
NEW DELHI: The 54th meeting of the Goods and Services Tax (GST) Council here on Monday will have a heavy agenda, including an introductory discussion among the Union finance minister and the state finance ministers on how to go forward on the much-awaited plan to revamp the tax’s slab...
India Set To Review Trade Pact With Malaysia As Deficit Grows
NEW DELHI: India has begun an exercise to review its trade agreement with Malaysia amid rising trade deficit with the Southeast Asian country and is examining the rules of origin under the pact. The India-Malaysia Comprehensive Economic Cooperation Agreement was signed in fiscal 2011 when the trade gap was...
India Pips US To Become Second Largest 5G Smartphone Market
NEW DELHI: India has overtaken the US to emerge as the second-largest market for 5G smartphones after China in the first half of 2024, with affordable models of Xiaomi, Vivo, Samsung and others driving the trend, a Counterpoint Research report said. Global shipments of fifth generation network-enabled smartphones increased...
RBI May Shift To Neutral Stance As Monsoon Eases Food Inflation Concerns
MUMBAI: With concern on food inflation ebbing with the monsoon progressing well, the Reserve Bank of India (RBI) is warming up to the idea of a change in stance to “neutral” from “withdrawal of accommodation”, according to economists. In his speech on Thursday during the annual event of the...
Revamp Of Gati Shakti Cargo Terminal Policy In Works To Woo Private Players
NEW DELHI: The Indian Railways is revamping the Gati Shakti Cargo Terminal (GCT) policy to increase private sector participation in setting up freight-oriented infrastructure, said people with knowledge of the matter. Guidelines will soon be issued to lower costs for private players in the development of new GCTs, they...
Revisiting Sri Lanka’s Debt Sustainability Assessment Can Derail IMF Programme: Finance Ministry
COLOMBO: Any attempt to revisit Sri Lanka’s debt sustainability assessment (DSA) can derail the ongoing IMF programme bailout, the finance ministry said on Friday. “Any country can of course stand its ground and refuse to move forward based on the IMF’s DSA if it disagrees with the outcomes of...
Allow Natural Growth Of India’s E-Vehicle Sector To Avoid Becoming EV Colony For China: GTRI
NEW DELHI: The government should allow the domestic electric vehicle sector to grow naturally without relying on incentives as it would avoid India becoming an ‘EV colony’ for China, think tank GTRI said on Friday. India faces unique challenges not faced by other countries in adopting EVs (electric vehicles)...
Bengaluru Sees 19 Per Cent Hike In Home Sales: Report
BENGALURU: Bengaluru’s residential market continues to display steady growth as registered transactions maintain upward momentum both sequentially and annually, a report by Square Yards, an integrated platform for real estate and mortgages, said on Friday. According to the data, 28,356 transactions were recorded in the city during the second...
Spicejet Plans To Raise Over Rs 3,200 Crore Via Debt, Equity
MUMBAI: Cash-strapped domestic carrier Spicejet plans to raise Rs 3,200 crore through QIP, warrants and capital infusion by the promoter, the airline said in a presentation on Friday. The funds will be utilised in taking back the grounded fleet in operations, liability settlement, new fleet induction and other general...
Rupee Rises Two Paise To Settle At 83.95 Against US Dollar
MUMBAI: The rupee gained 2 paise to close at 83.95 (provisional) against the US dollar on Friday amid a weak greenback in overseas markets. However, negative domestic markets, rise in crude oil prices, and outflow of foreign capital capped sharp gains, forex traders said. At the interbank currency market,...
Contraction In States’ Capex Continues, Down 17% In April-July
NEW DELHI: States’ capital expenditure likely fell by around 17% on year in the first four months of the current financial year, prolonging the moderation across the public sector capex space. As the impact of general elections on project implementations lingered on, the capex by the central public sector...
Strong Fundamentals Keep Growth Story Intact: RBI Governor
MUMBAI: Notwithstanding a moderation in growth in the first quarter (Q1) of 2024-25 (FY25), the fundamental growth drivers of the economy are gaining momentum, instilling confidence that India’s growth story remains intact, said Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday. He added that the central bank’s...
