Business
Analysts Bullish On Defence Stocks As DAC Okays Rs 1.4-Trillion Acquisition
NEW DELHI: The Defence Acquisition Council’s (DAC’s) approval for 10 capital acquisition proposals worth nearly Rs 1.45 trillion, to enhance defence preparedness, triggered a sharp surge in related stocks on Wednesday. On the BSE, Cochin Shipyard, Mazagon Dock Shipbuilders, Paras Defence and Space Technologies, Hindustan Aeronautics (HAL), and Garden...
Govt Mulls Import Duty Hike On Steel To Counter Chinese ‘Dumping’
NEW DELHI: The Steel Ministry has backed industry’s demand for an import duty hike on the metal offerings coming in, particularly from China and other South-East Asian nations. The pitch – to the PMO and Finance Ministry – would be to raise tariffs to 10-12 per cent, from the...
Steel Firms May Ward Off Import Threat With Higher Tariffs
NEW DELHI: India’s primary steel manufacturers including Tata Steel, JSW, AM/NS and state-run SAIL may get a reprieve from the prospect of “unsustainable prices’ wiping off their margins, in the form of higher import tariffs on their key products like hot rolled coil (HRC). Union Steel Minister H D...
India Must Avoid Sway Of Financial Markets’ Expectations Over Macro Outcomes: CEA
NEW DELHI: Chief Economic Advisor (CEA) V Anantha Nageswaran on Monday warned that as financial markets become bigger than the economy, it is natural, but not reasonable, that the priorities of the financial market dominate macroeconomic outcomes. But India, which looks ahead to 2047, should avoid this trend as...
Growth In Indian Manufacturing Sector Slows To 3-Month Low In August, PMI Dips To 57.5
NEW DELHI: Growth in the Indian manufacturing sector slowed to a three-month low in August, as firms saw softer growth in new orders and output. The headline Purchasing Managers Index (PMI) figure released by HSBC on Monday stood at 57.5, down from 58.1 in July. A figure above 50...
Single Corporate Filing With Exchanges Soon: SEBI Chief
MUMBAI: The Securities and Exchange Board of India (Sebi) will soon bring a system of single corporate filing with exchanges in a bid to ease compliance norms for companies, its chairperson Madhabi Puri Buch said. “It is a work in progress. If you file your disclosure with one exchange,...
Digital Gets Pride Of Place In ₹14,000-Crore Agro, Food Safety Schemes
NEW DELHI: The Union Cabinet Monday approved seven schemes totalling nearly ₹13,966 crore, aimed at improving farmer incomes through technological interventions and revamping existing farming practices. Key among them was the Digital Agriculture Mission with an outlay of ₹2,817 crore to build digital public infrastructure (DPI) for farmers. An...
Companies, Banks Struggle To Implement TRAI’s URL Whitelisting Norms
MUMBAI: Large enterprises and banks are finding it challenging to register unique, dynamic weblinks and shortened URLs-under the telecom regulator’s mandate-which are generated in real-time and cannot be pre-registered on the SMS filtering platform deployed by telecom companies. Shortened URLs such as bitly, shorturl, tinyurl etc are temporary links...
China Dominates Steel Imports In India
India is witnessing a significant surge in steel imports from China, contributing to a growing trade deficit and challenging the domestic steel industry. This trend is alarming for India’s economic stability, as the steel sector is a crucial component of its industrial growth. The influx of cheaper Chinese steel...
Cabinet Approves Rs 18,036 Crore Railway Line Connecting Manmad And Indore
NEW DELHI: The Union Cabinet Committee on Economic Affairs (CCEA) on Monday approved a new 309-kilometre railway line between Maharashtra and Madhya Pradesh worth Rs 18036 crore, which will connect Manmad and Indore. Speaking at a press conference, Union Minister for Railways, Electronics and Information Technology, and Information and...
Cabinet Approves ₹26,000 Crore Deal With HAL For 240 Aero-Engines For Su-30 MKIs
NEW DELHI: Prime Minister Narendra Modi-headed Cabinet Committee on Security in its meeting on Monday approved a proposal for procurement of 240 aero-engines (AL-31FP) for Russian-origin SU-30 MKI fighter aircraft from defence PSU Hindustan Aeronautics Limited (HAL) at a cost of over ₹26,000 crore. Earlier, the MoD had given...
Godrej Properties Wins Bid For Two Housing Plots In Gurugram Costing Rs 515 Crore
NEW DELHI: Realty firm Godrej Properties has won bid for two residential plots in Gurugram costing Rs 515 crore and will develop luxury homes worth Rs 3,400 crore on these land parcels. In a regulatory filing on Monday, Godrej Properties informed that it has “emerged as the highest bidder...
FICCI CASCADE Underlines Need For Global Cooperation To Curb Smuggling For Sustainable Growth
NEW DELHI: To combat the menace of smuggling and counterfeiting that feed into terror financing and organised crime, FICCI Committee Against Smuggling and Counterfeiting Destroying the Economy (CASCADE) will be organising the 10th edition of MASCARADE (Movement Against Smuggling and Counterfeit Trade) this month in the national Capital. MASCARADE...
Moody’s Raises India’s Growth Projection; Fitch Affirms ‘BBB-‘ Rating
NEW DELHI: Moody’s Ratings raised India’s gross domestic product (GDP) growth projection for this calendar year to 7.2 per cent from 6.8 per cent previously on the back of expectations of robust broad-based recovery and signs of improving rural demand, while Fitch affirmed the country’s sovereign credit rating, the...
Govt Lowers Minimum Public Shareholding Rule To 10% For GIFT City Listing
NEW DELHI: The finance ministry on Thursday issued a notification allowing companies to list on stock exchanges in GIFT City with a minimum of 10 per cent public shareholding, down from the previous requirement of 25 per cent for continued listing on stock exchanges in India and GIFT City....
India On The Cusp Of A New Revolution In Telecom, Can Lead The World In 6G
NEW DELHI: India can lead the world in 6G, after keeping pace with the world in 3G and 5G, communications minister Jyotiraditya Scindia said. Speaking with Kiran Rathee and Romit Guha, Scindia, also the minister of development of north eastern region (DoNER), said the government has fixed no timeline...
Centre Sets Milestones For States On Urban Land Reforms
NEW DELHI: The Centre has set three milestones in urban land reforms, which will lead to the finalisation of land parcel-based property cards, for states to become eligible for incentives in the form of grant-like capex loans. It has earmarked Rs 5,000 crore in FY25 for the participating states...
Adani Tops Ambani As India’s Richest On Hurun List, SRK Makes Debut
MUMBAI: Despite challenges following US-based short seller Hindenburg Research’s report against his companies in January last year, billionaire Gautam Adani and his family top the 2024 Hurun India Rich List, after their wealth increased 95 per cent to Rs 11.61 trillion. He replaced Reliance Industries Chairman Mukesh Ambani and...
