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NEW DELHI: Compensation in the private sector reached a new high of 22% of gross domestic product (GDP) in 2022-23, up from 21.2% in FY22, widening the gap with government sector compensation, an ET analysis of government data released earlier this month showed. Total compensation of employees working with...
MUMBAI: The stock prices of listed companies continue to outpace growth in India’s gross domestic product (GDP). The market capitalisation (mcap) of all companies listed and traded on the BSE is up 61 per cent since the end of March 2023, compared to an estimated 10 per cent growth...
NEW DELHI: Smartphone PLI (production-linked incentive), the most successful of all 14 such schemes, may be extended by a couple of years beyond 2025-26 when it officially ends. The five-year PLI scheme, which started in 2020 ends in 2026, and each company has the flexibility to choose any five...
NEW DELHI: Maximum cases of advertisement norms violations were reported from the healthcare sector during 2023-24, followed by illegal offshore betting and personal care categories, according to the Advertising Standards Council of India’s (Asci’s) Annual Complaints Report released on Wednesday. The healthcare sector accounted for a maximum 19 per...
NEW DELHI: Domestic oil marketing companies (OMCs) are likely to face margin pressures in FY25 on account of a moderation in Gross Refining Margins (GRMs) due to reduction in product cracks, particularly diesel, and shrinking discounts on Russian crude oil. Also read: Crude oil declines as industry report indicates...
NEW DELHI: Services have edged up India’s flash composite purchasing managers’ index (PMI) to 61.7 in May, as against 61.5 in April. More importantly, the month under discussion saw the steepest expansion in private sector jobs since September 2006. The HSBC Flash India PMI is compiled by S&P Global...
NEW DELHI: Fintech firm One97 Communications, which owns the Paytm brand, on Wednesday said its loss in the fourth quarter of the financial year 2023-24 has widened to Rs 550 crore following the ban imposed by the RBI on transactions related to its payments bank. The company had posted...
NEW DELHI: Tata Power Delhi Distribution Limited (Tata Power-DDL), a leading power utility supplying electricity to a populace of 7 million in North Delhi, signed a Memorandum of Understanding (MoU) with the India Smart Grid Forum (ISGF) to collaborate on a ground-breaking Vehicle-to-Grid (V2G) Technology Demonstration Project on 15th...
NEW DELHI: Less than two weeks after the airline’s cabin crew called off their strike, a union of the Air India Express has flagged concerns about flight delays and cancellations, saying that the reduced number of departures is adversely impacting the salaries of the cabin crew. The Air India...
NEW DELHI: The Indian economy likely grew a better-than-expected 6.8% in the last quarter of FY24, according to the median forecast of a poll of 15 economists, propelled by strong growth momentum and strengthening demand. The strong March quarter print could lift overall gross domestic product (GDP) growth for...
NEW DELHI: The ministry of commerce is working to codify the experience gained through intensive negotiations on the Free Trade Agreements (FTAs) in the past few years and compile it as Standard Operating Procedure for future guidance and reference. “After doing several agreements now we have got this experience,...
NEW DELHI: The finance ministry is likely to raise the CPSE dividend estimates by Rs 5,000 crore to around Rs 53,000 crore for the current fiscal in the full budget to be presented in July. In the interim budget 2024-25, the government had pegged dividend estimates from non-financial central...
NEW DELHI: India Ratings and Research (Ind-Ra) on Tuesday said the revamping of the built-operate-transfer (BOT) model is a tactical move to attract private capex, which is estimated to surpass Rs 1 trillion by 2030, as per the government. According to the rating agency, during the past seven years,...
CHENNAI: Chemplast Sanmar Ltd, part of the SHL Chemicals Group on Tuesday said the phase II expansion of the Custom Manufactured Chemicals division was on track for completion. The city-based company, engaged in the manufacturing of specialty chemicals declared revenues of Rs 1,051 crore for the January-March 2024 quarter...
NEW DELHI: India’s rank on the World Economic Forum’s Travel & Tourism Development Index 2024 has risen to 39th place, with global tourism activities returning to pre-pandemic levels, the annual report showed on Tuesday. While the US topped the list, India is ranked highest in South Asia and among...
NEW DELHI: Glenmark Pharmaceuticals on Tuesday said its unit has inked a marketing and distribution agreement with BeiGene to commercialise the latter’s oncology medicines, Tislelizumab and Zanubrutinib in India. Glenmark Specialty SA, a unit of Mumbai-based drug maker, has inked exclusive marketing and distribution agreement with BeiGene. “The addition...
NEW DELHI: State-owned Oil and Natural Gas Corporation’s (ONGC) March quarter net profit soared 19 times as the year-ago period had a one-time exceptional provision, while it posted a record earning for the full fiscal. The company’s standalone net profit of Rs 9,869 crore in January-March — the fourth...
NEW DELHI: Markets regulator Sebi has revamped the method for calculating the market capitalisation of listed companies under the Listing Obligations and Disclosure Requirements (LODR) rules. Instead of using the market capitalisation of a single day (currently March 31), listed companies will now use the “average market capitalisation” for...