Business
Another Stellar Year Likely For Initial Public Offerings
MUMBAI: After a record Rs 1.6 lakh crore raised through initial public offerings (IPOs) in 2024, more companies are expected to tap the primary market in the coming year, despite the not-so-rosy outlook for equities next year. Experts anticipate companies to mop-up around Rs 2 lakh crore with the...
FMCG Companies Bet On Premium Trend Amid Demand Slump
MUMBAI/NEW DELHI: The FMCG industry does not see a full revival in urban demand to set in until at least mid-next year. This is even when companies are betting on premiumisation to derive growth from the bigger cities, where consumers are seeking high-quality products and convenience to partly make...
India Eyes $25 Billion Export Opportunity In US Amid China Tariff Dispute
MUMBAI: Ahead of the Union Budget 2025-26, exporters urged the finance ministry to approve a US-focused marketing scheme worth Rs 750 crore to generate an additional $25 billion in exports to the US over the next three years. According to the Federation of Indian Export Organisations (FIEO), the US’...
NBFCs Need To Further Diversify Funding Sources To Mitigate Risk: RBI
MUMBAI: Non-banking financial companies (NBFCs) need to further diversify their sources of funding as a risk mitigation strategy, as their dependence on banks remains high despite some moderation in recent times, the Reserve Bank of India (RBI) has said in a report. Apart from direct lending to NBFCs, banks...
Monetary Policy, Structural Reasons Too Behind Slowdown: FinMin
NEW DELHI: The finance ministry on Wednesday said the Reserve Bank of India’s monetary policy stance and macro-prudential measures may have contributed to the demand slowdown in the economy. However, the possibility that structural factors may also have contributed to the slowdown in H1 should not be ruled out,...
India’s Oil Demand Growth Surpasses China’s, Crude Diversification Efforts May Gather Steam: S&P
NEW DELHI: India, which is the world’s third-largest consumer of crude oil, is expected to end 2024 with an oil demand growth rate surpassing that of China — a trend that is expected to continue in the coming year as well — making the South Asian country one of...
CSR Spending By CPSEs Surge 19% To Rs 4,911 Crore, Reaches 4-Year High In FY24
NEW DELHI: Corporate social responsibility (CSR) spending by central public sector enterprises (CPSEs) surged by 19 per cent to Rs 4,911 crore in 2023-24 (FY24), marking a four-year high after a dip in 2022-23 (FY23), according to the latest edition of the Public Enterprises Survey released by the Ministry...
Lohia Global Launches EV ‘Youdha’ TO HONOR INDIA’S REAL WARRIORS
NEW DELHI: Lohia Global has unveiled its new electric vehicle brand, Youdha, at the EV Expo, New Delhi, marking a significant milestone in India’s electric mobility journey. Derived from the word “warrior,” Youdha celebrates the unsung heroes driving progress through hard work and determination. Youdha’s initial lineup includes the...
RBI Sets Up Eight-Member Panel On Ethical Use Of AI
MUMBAI: The Reserve Bank on Thursday announced the setting up of an eight-member committee to develop a framework for responsible and ethical enablement of artificial intelligence (FREE-AI) in the financial sector. Headed by IIT Bombay professor Pushpak Bhattacharyya (Department of Computer Science and Engineering), the panel will assess the...
Rupee Plunges 12 Paise To Close At 85.27 Against US Dollar
MUMBAI: The rupee stayed weak for the third straight session and fell 12 paise to settle at a fresh all-time low of 85.27 (provisional) against the US dollar on Thursday, amid a strong greenback and rising crude oil prices. Forex traders said, increased month-end as well as year-end dollar...
New Manufacturing Golden Age For India Beckons: Tata Sons Chief To Staff
NEW DELHI: With global supply chains continuing to shift in India’s favour as the world’s largest businesses strike a new balance between resilience and efficiency, manufacturing has the potential to transform the country’s economy, Tata Sons Chairman N Chandrasekaran said on Thursday. In his New Year message to employees...
AI, Machine Learning To Help Indian Pharma Industry To Pivot On Innovation
NEW DELHI: As technological advancements like AI, machine learning and precision medicine revolutionise drug discovery, manufacturing and patient care, Indian pharmaceutical industry is set for a ‘profound transformation’ in 2025 with innovation, wider global access and improvement in quality becoming key themes for the future. The industry, which is...
Experts Want PDS Out Of New Inflation Series
NEW DELHI: The ministry of statistics & programme implementation (MoSPI) has floated a discussion paper to seek views on the treatment of “free public distribution system (PDS) items in the Consumer Price Index (CPI) compilation”, as it feels the current mechanism doesn’t properly capture the impact of free food...
EY Report Forecasts India’s GDP Growth Seen At 6.5 Percent In FY25, FY26
NEW DELHI: India’s economy is likely to grow by 6.5 per cent in the current and the next financial year, an EY report said, attributing lower than anticipated expansion in the September quarter to fall in private consumption expenditure and gross fixed capital formation. Real GDP growth eased to...
Regular Employees In CPSEs Dropped 3.1% To 0.81 Million In FY24: Survey
NEW DELHI: The number of regular employees hired by Central Public Sector Enterprises (CPSEs) declined 3.14 per cent to 814,018, while that of contract workers rose 8.8 per cent to 704,565 in the financial year 2023-24 (FY24), according to the latest Public Enterprises Survey released last week. CPSEs across...
Investors Get Good Exits In IPO Frenzy
MUMBAI: Investors and promoters have taken home close to Rs 1 lakh crore through the sale of shares in initial public offerings (IPOs) in 2024, the highest level in at least 10 years. The amount raised through the sale of fresh shares was around Rs 64,300 crore. This is...
Rupee Sees Relative Gain As Other Currencies Fall More VS $: RBI
MUMBAI: A relatively weak rupee, in the short term, benefits India’s trade balance, a report published by RBI said. However, in the long run, a stronger rupee is more beneficial to trade balance. Trade balance is the difference between exports and imports of goods and services. The report, published...
Markets Surge In Early Trade On Buying In Blue-Chip Bank Stocks
MUMBAI: Benchmark indices Sensex and Nifty surged in early trade on Thursday amid a rally in Asian markets and buying in blue-chip bank stocks. The 30-share BSE benchmark Sensex jumped 425.5 points to 78,898.37 in early trade. The NSE Nifty surged 123.85 points to 23,851.50. From the 30 blue-chip...
