India's retail inflation drops to 5 pc in Sept, below RBI's upper band
Oct 13, 2023, at 04:07 am
New Delhi: India's retail inflation measured by consumer price index (CPI) eased to 5.02% year-on-year in September 2023 from 6.83% in the previous month on the back of softening food prices, showed the data released by the Ministry of Statistics & Programme Implementation (MoSPI) on Thursday.
India's industrial production zooms 10.3 pc in August
Oct 13, 2023, at 03:46 am
New Delhi: India's index of industrial production (IIP) rose 10.3% year-on-year in August FY24 on the back of a surge in mining and electricity sector output, data released by the Ministry of Statistics & Programme Implementation (MoSPI) on Thursday showed.
Essar plans green hydrogen projects in Gujarat
Oct 12, 2023, at 08:14 am
New Delhi/UNI: Ruias-controlled Essar Group is set to announce plans to invest in green hydrogen, power generation and port sector during Vibrant Gujarat summit slated to take place in January next year.
RPG Group announces appointment of Anant Goenka as Group Vice-Chairman
Oct 12, 2023, at 08:03 am
Mumbai: RPG Group Wednesday announced the appointment of Anant Goenka as the vice-chairman of the $ 4.4 billion diversified group, the company said in a statement.
Bharti Group acquires French insurer AXA's stake in Bharti AXA Life Insurance: Report
Oct 12, 2023, at 07:57 am
Bharti Group has announced that it is acquiring French insurer AXA's 49% stake in Bharti AXA Life Insurance Co., a move that grants Bharti full control over a venture that the two companies jointly operated for nearly two decades, Reuters reported.
Cabinet approves royalty rates for mining of Lithium, Niobium and Rare Earth Elements
Oct 12, 2023, at 05:35 am
New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi approved the amendment to the Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957, also known as the MMDR Act, for specifying the rate of royalty in respect of three critical and strategic minerals, namely, Lithium, Niobium and Rare Earth Elements (REEs), the Ministry of Mines said.
RBI permits SBI Mutual Fund to acquire 9.99% paid-up share capital in IndusInd Bank
Oct 12, 2023, at 05:04 am
Mumbai: The Reserve Bank of India (RBI), on Wednesday, granted permission to SBI Mutual Fund (SBIMF) to acquire up to 9.99% of paid-up share capital or voting rights in Induslnd Bank.
Govt amends white goods PLI scheme rules for chosen candidates
Oct 12, 2023, at 04:59 am
New Delhi: The government, on Wednesday, tweaked the Production Linked Incentive (PLI) scheme rules for white goods for the selected candidates by modifying the method for assessing production value for internal consumption, sales to affiliated firms, and associated entities.
Indian-American teen's AI startup valued at Rs 100 cr
Oct 12, 2023, at 03:34 am
At just 16 years old, Pranjali Awasthi, an Indian prodigy, has entered the tech arena with her startup, Delv.AI. Her venture, dedicated to streamlining the process of data extraction for research purposes, took off in January 2022.
TCS reports Rs 11,342 cr net profit for Q2FY24; declares Rs 9 dividend per share
Oct 12, 2023, at 02:34 am
Mumbai: Tata Consultancy Services (TCS) on Wednesday announced a net profit of Rs 11,342 crore for the Q2FY24, propelled by a robust order book, particularly in the BFSI sector, despite a challenging business environment.
Indian Market: Sensex advanced 393.69 pts
Oct 11, 2023, at 11:25 pm
The BSE Sensex on Wednesday gained further by 393.69 pts to close at 66,473.05 on the strength of Telecommunications, FMCG and Auto stocks amid strong global cues.
Bridgestone India partners with Tata Power to install EV chargers across select tyre dealerships
Oct 11, 2023, at 06:50 am
Kolkata: Bridgestone India and Tata Power have come together to install EV chargers for four-wheelers at Bridgestone dealerships on a pan-India basis.
RBI directs Bank of Baroda to halt adding new customers via app
Oct 11, 2023, at 06:35 am
Mumbai: The Reserve Bank of India (RBI), on Tuesday, directed state-owned lender Bank of Baroda to cease the onboarding of new customers through the BoB World, the bank's digital banking application.
Bibhu Prasad Mahapatra assumes charge as Executive Director on the Board of PNB
Oct 11, 2023, at 06:15 am
New Delhi: Bibhu Prasad Mahapatra has assumed the charge as the Executive Director on the Board of Punjab National Bank, the Ministry of Finance said on Tuesday.
IDFC First Bank planning to raise Rs 3,000 crore in debt capital through Tier-ii bonds
Oct 11, 2023, at 06:12 am
Mumbai: After its recent equity capital infusion of Rs 3,000 crore, IDFC First Bank is now gearing up to raise the same amount through debt capital, specifically Tier-II bonds, Business Standard reported.
India must aim for 8% growth rate to surpass China: Barclays
Oct 11, 2023, at 05:45 am
New Delhi: For India to surpass China and emerge as the leading contributor to global growth, it would have to aim for an 8 percent growth rate, a Barclays report said.
Mukesh Ambani takes over Gautam Adani to be the richest Indian: Report
Oct 11, 2023, at 05:39 am
Mumbai: Reliance Industries chairman Mukesh Ambani has surpassed Gautam Adani of Adani Group to claim the top spot as the wealthiest Indian in the 360 ONE Wealth Hurun India Rich List 2023.
Direct Tax collection in Oct FY24 crosses Rs 11.07 lakh cr
Oct 11, 2023, at 02:36 am
New Delhi: The gross direct tax collections in October, so far, surpassed Rs 11 lakh crore, reaching Rs 11.07 lakh crore, the Finance Ministry said in a statement on October 10.
ED arrests 4 Vivo execs including 1 Chinese national
Oct 11, 2023, at 02:12 am
New Delhi: The Enforcement Directorate (ED) on Tuesday arrested four executives from the Chinese smartphone manufacturer Vivo, including a Chinese national, reported media.
Indian Market: Sensex jumps 566.97 pts
Oct 10, 2023, at 11:05 pm
The BSE Sensex on Tuesday registered a solid gains of 566.97 pts to close at 66,079.36 on the strength of Realty, Metal, Telecommunications and BSE services amid positive global cues.
JSW Group likely to seal deal with MG Motors India for EV manufacturing in India: Report
Oct 07, 2023, at 08:09 am
Mumbai: JSW Group is actively negotiating to acquire a stake in MG Motor India, aiming to introduce an electric vehicle tailored specifically for the Indian market.
ChatGPT developer OpenAI planning to make its own AI chips: Report
Oct 07, 2023, at 07:50 am
San Francisco: ChatGPT’s developer OpenAI is considering the development of its own artificial intelligence chips and has even explored a potential acquisition target, Reuters reported, citing sources.
ADIA to invest Rs 4,966.80 cr in Mukesh Ambani's Reliance Retail Ventures
Oct 07, 2023, at 07:34 am
Mumbai: Abu Dhabi Investment Authority (ADIA) through its wholly-owned subsidiary is set to inject Rs 4,966.80 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, media reported.
World's top cocoa producer Ivory Coast targets Indian market to reduce dependence on Europe: Report
Oct 07, 2023, at 06:35 am
New Delhi: World's top cocoa producer Ivory Coast is strategizing to reduce its reliance on Europe and bolster its cocoa industry. India, though not a major cocoa producer, is a key player in this plan, primarily importing beans to meet domestic demand, Moneycontrol reported.
Oct 07, 2023, at 06:05 am
Mumbai: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday announced it will maintain the repo rate at 6.5 percent for the fourth consecutive time.
Oct 06, 2023, at 11:20 pm
The BSE Sensex remained strong for another day on Friday, as it spurted 364.06 pts to close strong at 65,995.63 following RBI decision to status quo on the policy rates,
Air India sets up integrated mega engineering warehouse in Delhi
Oct 06, 2023, at 05:43 pm
New Delhi/IBNS: Air India, the Tata-owned global airline, has commissioned a mega warehouse facility in Delhi to facilitate storage of over 1,000,000 engineering spares that are integral to maintenance, checks and repairs of its aircraft and ground support equipment.
Administrative agency of the U.S. state of Georgia hires TCS to replace its insurance claim platform
Oct 06, 2023, at 02:02 am
Atlanta (United States): Tata Consultancy Services (TCS) has been selected by the Georgia Department of Labor (GDOL) to replace its 1980s-era legacy platform with a proven, agile, secure, and scalable cloud-based unemployment insurance system that streamlines the claims process and ensures that eligible individuals receive prompt financial assistance and support when they need it most.
India's services PMI rises to 61 in September, signals strong momentum
Oct 05, 2023, at 06:29 pm
New Delhi/UNI: India's services sector activities continued to be strong in the month of September 2023 driven primarily by robust domestic demand and an upturn in demand from overseas clients.
Fitment committee refuses industry's demand to reduce GST on EV batteries, tobacco products: Report
Oct 05, 2023, at 04:26 am
New Delhi: The Goods and Service Tax (GST) fitment committee has declined the industry's request to reduce the tax on EV batteries and tobacco products, reported Moneycontrol.