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NEW DELHI: Fitch Ratings on Thursday affirmed the ratings of Axis Bank and ICICI Bank with a stable outlook citing supportive operating environment and large domestic franchise. Fitch Ratings has affirmed India-based Axis Bank and ICICI Bank’s Long-Term Issuer Default Rating (IDR) at ‘BB+’, the global agency said in...
NEW DELHI: Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported a 25 per cent fall in its March quarter net profit on lower refining margins and announced one free bonus share for every two shares held. Its consolidated net profit of Rs 2,709.31 crore in January-March – the fourth...
MUMBAI: Indian Hotels Company (IHCL) on Thursday announced a strategic partnership with CG Hospitality with a plan to grow its portfolio in the Indian sub-continent to 25 hotels by 2025, involving a total investment of around Rs 4,000 crore. The portfolio of 25 properties by 2025, will include 11...
NEW DELHI: Go Digit General Insurance Ltd, a firm backed by Canada-based Fairfax Group, is set to launch its initial public offering on May 15. The initial share sale will conclude on May 17 and the bidding for anchor investors will open for a day on May 14, according...
NEW DELHI: India could continue to grow at a rate of 6.5-7 per cent for the next decade with better balance sheet strength in the financial and non-financial sectors, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Wednesday. Speaking at an event organised by the National Council of...
NEW DELHI: Denouncing the claim by Congress leader Rahul Gandhi that central public sector enterprises (CPSEs) are being dismantled and are in disarray under the current government, Finance Minister Nirmala Sitharaman on Wednesday said the net worth of CPSEs increased by 82 per cent to Rs 17.33 trillion at...
MUMBAI/NEW DELHI: The draft guidelines released by the Reserve Bank of India (RBI) recently, calling for higher asset provisioning for infrastructure lending, could hit the pace of infra development in the country, say companies, but agree that it is a “sane” move for the sector’s long-term stability. The draft...
NEW DELHI: India has called for re-energising discussions in the World Trade Organisation (WTO) on the development dimension to achieve tangible progress and meaningful outcomes. In a communication to the WTO, the country said that there is a substantial unfinished development agenda emanating from the recently concluded 13th ministerial...
NEW DELHI: If the Reserve Bank of India’s (RBI) draft guidelines on financing of project loans gets implemented as proposed it would lead to a disruption in the highways sector, which has witnessed aggressive public capex over several years, and is expecting a return of private risk capital. Many...
NEW DELHI|MUMBAI: The government is evaluating Reserve Bank of India draft rules calling for higher provisioning in infrastructure projects, while lenders are likely to oppose them on multiple forums. Officials cited concerns that they could lead to a rise in interest rates and derail capital expenditure momentum. After the...
NEW DELHI/MUMBAI: State-run lender REC has lined up major plans to raise funds from overseas, preparing itself for the expected jump in demand for credit from all segments of the power industry, as the government aims to double capacities by 2032.The lender is planning to take a blended loan...
NEW DELHI: The government has managed to significantly bring down imports of toys with its fiscal and administrative measures, but its attempts have not made a dent on their exports, according to a study. India’s toy imports decreased drastically to $64.9 million in FY24 from $304.1 million in 2018-19....
NEW DELHI: The corporate affairs ministry is considering a faster way of transferring to beneficiaries shares, dividends and matured debentures in inactive accounts that have not been claimed for years, said a person privy to the development. Such securities, dividends and debentures that remain unclaimed for more than seven...
NEW DELHI: The government is considering various strategies to ensure a nationwide rollout of the four labour codes even though some states and Union territories are yet to come out with draft rules under one or more of these codes. The ministry of labour and employment is considering several...
NEW DELHI: The Government is in the process of formulating standards for over 2,000 medical devices being produced in the country in order to make them globally competitive. “Zero defect, full effect, this is our mission. Through BIS, we are making product standards for medical devices which would be...
NEW DELHI: The number of ghost shopping malls — those with vacancy of more than 40 per cent — increased to 64 last year from 57 in 2022 across eight major cities as retailers and consumers are preferring premium properties, according to Knight Frank. Real estate consultant Knight Frank...
NEW DELHI: The Indian FMCG industry experienced a 6.5 per cent growth in volume terms at a national level in the January-March period of 2024, with rural consumption surpassing urban for the first time in five quarters, according to consumer intelligence firm NielsenIQ. Both food and non-food sectors contributed...
NEW DELHI: The country’s toy exports declined marginally to USD 152.34 million in 2023-24 from USD 153.89 million in the previous financial year, according to a report by economic think tank GTRI. The Global Trade Research Initiative (GTRI) said that India’s toy exports did not benefit much from the...